WILSHIRE ASSOCIATES Wilshire Consulting
C h a t h a m U n i v e r s i t y Investment Performance Analysis March 31, 2018 Table of Contents
Chatham University
I. MARKET ENVIRONMENT
II. TOTAL FUND
III. U.S. EQUITY Mellon Large Cap Stock Index Tab 1 Mellon Carbon Efficiency Broad Market Tab 2 DFA Small Cap Tab 3 DFA US Sustainability Core Tab 4
IV. U.S. FIXED INCOME Vanguard Short Term TIPS Admiral Tab 5 BlackRock Total Return Tab 6 Vanguard High Yield Tab 7
V. NON-U.S. EQUITY DFA Emerging Value Tab 8 Oppenheimer Emerging Tab 9 Vanguard Developed Markets Tab 10
VI. GLOBAL EQUITY Aberdeen Global Equity Tab 11 Epoch Global Equity Tab 12
VII. HEDGE FUND Davidson Kempner Tab 13 Mangnitude International Tab 14
VIII. COMMODITIES Tab 15
IX. ALTERNATIVE INVESTMENTS Tab 16
X. REAL ESTATE Tab 17
XI. GLOSSARY Market Environment Overview of Major Asset Classes As of 3/31/18
Returns 10 Year Indices Legend Qtr Ytd 1Yr 3Yrs 5Yrs 10Yrs 20Yrs Std Dev U.S. Equity (Wilshire 5000) w -0.76 -0.76 13.69 10.48 13.13 9.65 6.76 16.37 U.S. Bonds (Barclays Aggregate) a -1.46 -1.46 1.20 1.20 1.82 3.63 4.83 3.37 Non U.S. Equity (ACWI X US Net) x -1.18 -1.18 16.53 6.18 5.89 2.70 -- 20.19 Developed Equity (EAFE Net) m -1.53 -1.53 14.80 5.55 6.50 2.74 4.45 19.63 Emerging Equity (Emg Mkts Net) z 1.42 1.42 24.93 8.81 4.98 3.02 7.54 23.55 Int'l Bonds (Citigroup Non-US Gov't Bond) s 4.42 4.42 12.93 5.02 1.36 1.82 4.55 8.89 Treasury Bills (91 Day) n 0.35 0.35 1.10 0.53 0.34 0.34 2.02 0.26 Consumer Price Index b 1.23 1.23 2.36 1.86 1.40 1.57 2.18 2.09
Last 10 Years(4/08 to 3/18) Previous 10 Years(4/98 to 3/08) 20.0 13.0
11.9
16.0 10.8
9.7
12.0 8.6
w 7.5 s Return Return 8.0 6.4 a m 5.3
4.0 4.2 a w mx z n 3.1 b s b 0.0n 2.0 0.0 4.0 8.0 12.0 16.0 20.0 24.0 28.0 0.0 2.1 4.2 6.3 8.4 10.5 12.6 14.7 16.8 18.9 21.0 Annual Standard Deviation Annual Standard Deviation 1 Market Environment U.S. Common Stocks As of 3/31/18
Returns Qtr Ytd 1Yr 3Yrs 5Yrs 10Yrs 20Yrs Indices Standard & Poor's 500 -0.76 -0.76 13.99 10.78 13.31 9.49 6.46 Wilshire 5000 -0.76 -0.76 13.69 10.48 13.13 9.65 6.76 Wilshire 4500 -0.13 -0.13 13.01 8.86 12.43 10.57 7.97 Wilshire US Large Cap -0.76 -0.76 14.06 10.80 13.32 9.51 6.59 Wilshire US Small Cap -0.73 -0.73 10.13 7.86 11.48 10.90 8.55 Wilshire Real Est. Secs -7.42 -7.42 -3.43 1.49 6.49 6.32 8.68
Styles Wilshire US Large Growth 1.30 1.30 19.64 12.04 15.52 11.03 6.24 Wilshire US Large Value -2.95 -2.95 8.58 9.29 11.17 7.93 6.71 Wilshire US Small Growth 1.41 1.41 16.96 8.31 12.36 11.46 7.42 Wilshire US Small Value -2.92 -2.92 3.44 7.16 10.48 10.22 9.17
Sectors (Wilshire 5000) Consumer Discretionary 2.15 2.15 16.32 11.40 15.39 14.17 -- Consumer Staples -6.78 -6.78 -0.70 5.18 8.69 9.38 -- Energy -5.87 -5.87 -0.79 -2.07 -0.86 1.29 -- Financials -0.71 -0.71 16.98 13.86 14.77 6.35 -- Health Care -0.61 -0.61 12.65 6.22 14.59 12.73 -- Industrials -1.78 -1.78 14.80 11.50 13.88 9.19 -- Information Technology 4.09 4.09 27.70 18.55 19.88 13.80 -- Materials -5.32 -5.32 9.88 8.41 9.60 6.35 -- Telecommunication Services -7.34 -7.34 -4.97 5.51 5.54 6.64 -- Utilities -3.35 -3.35 2.46 8.70 9.57 7.73 --
Index Definitions Style Definitions (Wilshire Style Indices) Wilshire 5000: All publicly traded U.S. corporations Large Co: Largest 750 companies in the Wilshire 5000 Wilshire 4500: All Wilshire 5000 companies excluding large S&P500 companies Small Co: Next 1750 companies in the Wilshire 5000 Wilshire US Large Cap: Largest 750 publicly traded companies Value: Relatively low P/E and P/B ratios Wilshire US Small Cap: Companies ranking between 750 and 2500 by market capitalization Growth: Relatively high P/E and P/B ratios 2 Market Environment U.S. Common Stocks Relative Return As of 3/31/18
Small vs Large Growth vs Value 1.40 1.35 Small Favored Growth Favored 1.33 1.29
1.26 1.22
1.19 1.16
1.12 1.09
1.05 1.02
0.98 0.96
0.91 0.89
0.84 0.83
0.77 0.76 Large Favored Value Favored 0.70 0.70 03/08 03/09 03/10 03/11 03/12 03/13 03/14 03/15 03/16 03/17 03/18 03/08 03/09 03/10 03/11 03/12 03/13 03/14 03/15 03/16 03/17 03/18
Based on Wilshire Style Indices
3 Market Environment U.S. Fixed Income Indices As of 3/31/18
Returns Characteristics (Current Qtr) Indices Legend Qtr Ytd 1Yr 3Yrs 5Yrs 10Yrs 20Yrs Eff MaturityEff Duration Yld to Mat Barclays Aggregate a -1.46 -1.46 1.20 1.20 1.82 3.63 4.83 8.42 6.08 3.12 Barclays Treasury l -1.18 -1.18 0.43 0.45 1.07 2.74 4.47 7.66 6.13 2.55 Barclays Credit (Corporate) c -2.13 -2.13 2.59 2.16 2.83 5.15 5.54 10.72 7.22 3.69 Barclays Mortgage m -1.19 -1.19 0.77 1.12 1.80 3.46 4.72 7.43 5.05 3.30 Barclays High Yield e -0.86 -0.86 3.78 5.17 4.99 8.27 6.53 6.20 4.06 6.50 Citigroup High Grade h -4.30 -4.30 6.07 3.21 4.84 7.48 6.99 27.56 15.42 3.84 Barclays Universal u -1.41 -1.41 1.52 1.73 2.19 4.01 5.03 8.19 5.86 3.46 Barclays US TIPS ⊕ -0.79 -0.79 0.92 1.30 0.05 2.93 5.43 8.21 5.01 2.80
Current Qtr Last Year 1.5 22.0
0.85 19.5556
0.2 17.1111 -0.45 14.6667 e ⊕ -1.1 m l u a 12.2222 -1.75
Return c 9.77778Return -2.4 7.33333 -3.05 h -3.7 4.88889 e -4.35 h 2.44444 c ⊕ua -5.0 0.0 m l 0.0 3.0 6.0 9.0 12.0 15.0 0.0 3.0 6.0 9.0 12.0 15.0 Duration Duration 4 Market Environment U.S. Fixed Income Markets Historical Spread Comparison to Treasuries As of 3/31/18 20.00
18.00
16.00
14.00
12.00
10.00
8.00 Current Yield Spread 6.00
4.00
2.00
0.00 06/08 06/09 06/10 06/11 06/12 06/13 06/14 06/15 06/16 06/17
Current Qtr Median Spread Description Legend Spread (10 Years) Barclays Mortgage 0.79 1.75 Barclays Long Agencies 0.44 1.07 Barclays AAA Long Corp 0.88 1.13 Barclays BAA Long Corp 1.92 2.74 Barclays High Yield 4.02 5.86
5 Market Environment U.S. Fixed Income Markets Yield Spread To Treasuries As of 3/31/18
Treasury Yield Curve Comparative Yields 9.0 12.0
8.0 10.7
9.4 7.0 8.1 6.0 6.8 5.0 e 5.5 4.0 4.2
Yield to MaturityYield to Maturity Yield to Maturity c h 3.0 1 Year Ago mu Current Treasury 2.9 a Current Treasury l⊕ 2.0 1.6
1.0 0.3
0.0 -1.0 0.0 5.0 10.0 15.0 20.0 25.0 0.0 5.0 10.0 15.0 20.0 25.0 30.0 Maturity Maturity
Description Legend Eff Maturity Yield to Mat Bloomberg Aggregate a 8.42 3.12 Bloomberg Treasury l 7.66 2.55 Bloomberg Credit c 10.72 3.69 Bloomberg Mortgage m 7.43 3.30 Bloomberg High Yield e 6.20 6.50 Citigroup High Grade h 27.56 3.84 Bloomberg Universal u 8.19 3.46 Bloomberg U.S. TIPS ⊕ 8.21 2.80
6 Market Environment International Markets As of 3/31/18 Returns 10 Year Qtr Ytd 1Yr 3Yrs 5Yrs 10Yrs 20Yrs Std Dev Equity(in U.S. dollars) U.S. (S & P 500) -0.76 -0.76 13.99 10.78 13.31 9.49 6.46 15.93 Non U.S. (ACWI X U.S.) Net -1.18 -1.18 16.53 6.18 5.89 2.70 -- 20.19 Developed (EAFE) Net -1.53 -1.53 14.80 5.55 6.50 2.74 4.45 19.63 Emerging (Emg Mkts) Net 1.42 1.42 24.93 8.81 4.98 3.02 7.54 23.55 Europe -1.98 -1.98 14.49 4.79 6.37 2.06 4.29 21.37 Pacific -0.68 -0.68 15.77 7.25 6.84 4.32 4.87 17.71 France 0.34 0.34 20.41 8.93 8.90 1.97 5.01 22.98 Germany -3.58 -3.58 13.62 4.66 7.85 2.70 4.69 24.42 Japan 0.83 0.83 19.64 8.36 8.92 4.10 3.77 16.68 United Kingdom -3.88 -3.88 11.91 3.10 3.87 2.27 3.38 20.14
Equity(in local currency) Non U.S. (ACWI X US) Net -2.82 -2.82 9.91 5.58 9.10 5.24 -- 15.42 Developed (EAFE) Net -4.18 -4.18 6.01 4.10 9.29 5.18 4.01 15.76 Emerging (Emg Mkts) Net 0.70 0.70 22.87 10.18 9.44 6.21 -- 17.34 Europe -4.31 -4.31 2.60 3.55 8.48 5.20 4.20 15.80 Pacific -3.96 -3.96 12.41 5.12 10.81 5.39 3.86 18.00 France -1.99 -1.99 5.71 5.08 10.91 5.36 4.61 17.68 Germany -5.79 -5.79 -1.08 0.51 9.42 5.80 4.24 20.43 Japan -4.67 -4.67 14.40 4.34 11.90 4.95 2.68 21.41 United Kingdom -7.57 -7.57 -0.26 4.93 5.87 6.20 4.45 14.41
% Change in Exchange Rates Euro vs Dollar 2.42 2.42 14.99 4.62 -0.86 -2.50 -- 9.98 Yen vs Dollar 5.92 5.92 4.78 4.09 -2.43 -0.66 1.14 12.01 Pound vs Dollar 3.70 3.70 12.18 -1.87 -1.57 -3.42 -0.88 10.84
International Fixed Income Citigroup Non-US Gov't Bond 4.42 4.42 12.93 5.02 1.36 1.82 4.55 8.89 Citigroup World Bond 2.50 2.50 8.49 3.45 1.18 1.97 4.56 7.13 Citigroup Non-US Hedged 1.50 1.50 3.95 2.65 3.98 4.14 4.88 3.49 Barclays Global Aggregate 1.36 1.36 6.97 3.14 1.49 2.57 4.58 5.95 7 Market Environment U.S. Dollar Cost of Foreign Currencies As of 3/31/18 0.50 Weaker Dollar 0.40
0.30
0.20
0.10
-0.00
-0.10
-0.20
-0.30
-0.40 Stronger Dollar -0.50 06/08 09/09 12/10 03/12 06/13 09/14 12/15 03/17
Description Legend Japanese Yen U.K. Pound Euro Canadian Dollar Chinese Yuan
8 Chatham University Asset Allocation Total Fund Composite Quarter Ended 3/31/18
Intl Intl Real Special As Allocated Manager Name Equity Bonds Cash Equity Bonds Estate Invest Other To Manager $(000) % $(000) % $(000) % $(000) % $(000) % $(000) % $(000) % $(000) % $(000) % Mellon Lg Cap Stock Index 7,750 9.8 0.0 0 0.0 0.0 0.0 0.0 0.0 0.0 7,750 9.8 DFA Small Cap 1,751 2.2 0.0 0 0.0 0.0 0.0 0.0 0.0 0.0 1,751 2.2 DFA US Sustainability Core 5,207 6.6 0.0 0 0.0 0.0 0.0 0.0 0.0 0.0 5,207 6.6 Mellon Carbon Eff Brd Mkt 4,040 5.1 0.0 0 0.0 0.0 0.0 0.0 0.0 0.0 4,040 5.1 Domestic Equity Composite 18,748 23.8 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 18,748 23.8
BlackRock Total Return Bond Fund 0.0 3,380 4.3 0 0.0 0.0 0.0 0.0 0.0 0.0 3,380 4.3 Vanguard S-T TIPS Admiral 0.0 3,761 4.8 0 0.0 0.0 0.0 0.0 0.0 0.0 3,761 4.8 Vanguard HY Corp Admiral 0.0 2,176 2.8 0 0.0 0.0 0.0 0.0 0.0 0.0 2,176 2.8 Fixed Income Composite 0 0.0 9,318 11.8 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 9,318 11.8
DFA Emerging Markets Value 0.0 0.0 0 0.0 1,515 1.9 0.0 0.0 0.0 0.0 1,515 1.9 Oppenheimer Emerging 0 0.0 0.0 0 0.0 1,590 2.0 0.0 0.0 0.0 0.0 1,590 2.0 Vanguard Dev Mkt 0.0 0.0 0 0.0 10,897 13.8 0.0 0.0 0.0 0.0 10,897 13.8 International Equity Composite 0 0.0 0 0.0 0 0.0 14,002 17.8 0 0.0 0 0.0 0 0.0 0 0.0 14,002 17.8
Aberdeen Global 0 0.0 0.0 0 0.0 2,209 2.8 0.0 0.0 0.0 0.0 2,209 2.8 Epoch Global 0 0.0 0.0 0 0.0 2,043 2.6 0.0 0.0 0.0 0.0 2,043 2.6 Global Equity Composite 0 0.0 0 0.0 0 0.0 4,252 5.4 0 0.0 0 0.0 0 0.0 0 0.0 4,252 5.4
Clarion Lion 0.0 0.0 0 0.0 0.0 0.0 7,586 9.6 0.0 0.0 7,586 9.6 Real Estate Composite 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 7,586 9.6 0 0.0 0 0.0 7,586 9.6
Davidson Kempner Instit Prtnrs, LP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3,984 5.1 3,984 5.1 Magnitude International 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3,878 4.9 3,878 4.9 Hedge Fund Composite 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 7,863 10.0 7,863 10.0
CF Private Equity Capital V 0.0 0.0 0.0 0.0 0.0 0.0 134 0.2 0.0 134 0.2 CF Private Equity Capital VI 0.0 0.0 0.0 0.0 0.0 0.0 532 0.7 0.0 532 0.7 CF Private Equity Capital VII 0.0 0.0 0.0 0.0 0.0 0.0 2,247 2.8 0.0 2,247 2.8 CF Venture Capital IV 0.0 0.0 0.0 0.0 0.0 0.0 26 0.0 0.0 26 0.0 CF Venture Capital V 0.0 0.0 0.0 0.0 0.0 0.0 124 0.2 0.0 124 0.2 CF Venture Capital VI 0.0 0.0 0.0 0.0 0.0 0.0 123 0.2 0.0 123 0.2 CF Venture Capital VII 0.0 0.0 0.0 0.0 0.0 0.0 484 0.6 0.0 484 0.6 1 Chatham University Asset Allocation by Composite Total Fund Composite Quarter Ended 3/31/18
Intl Intl Real Special As Allocated Manager Name Equity Bonds Cash Equity Bonds Estate Invest Other To Manager $(000) % $(000) % $(000) % $(000) % $(000) % $(000) % $(000) % $(000) % $(000) % CF Venture Capital VIII 0.0 0.0 0.0 0.0 0.0 0.0 1,943 2.5 0.0 1,943 2.5 CF Venture Partners IX 0.0 0.0 0 0.0 0.0 0.0 0.0 1,601 2.0 0.0 1,601 2.0 CF International Partners V 0.0 0.0 0.0 0.0 0.0 0.0 431 0.5 0.0 431 0.5 CF International Partners VI 0.0 0.0 0.0 0.0 0.0 0.0 576 0.7 0.0 576 0.7 CF International Partners VII 0.0 0.0 0 0.0 0.0 0.0 0.0 1,200 1.5 0.0 1,200 1.5 CF Natural Resources Partners VII 0.0 0.0 0.0 0.0 0.0 0.0 461 0.6 0.0 461 0.6 CF Natural Resources Ptrs VIII 0.0 0.0 0 0.0 0.0 0.0 0.0 634 0.8 0.0 634 0.8 CF Venture Partners X 0.0 0.0 0 0.0 0.0 0.0 0.0 320 0.4 0.0 320 0.4 CF Emerging Markets 2013 0.0 0.0 0.0 0.0 0.0 0.0 412 0.5 0.0 412 0.5 CF Global Distressed II 0.0 0.0 0.0 0.0 0.0 0.0 173 0.2 0.0 173 0.2 Portfolio Advisors PE VI 0.0 0.0 0.0 0.0 0.0 0.0 763 1.0 0.0 763 1.0 Portfolio Advisors Pan Asia Select 0.0 0.0 0.0 0.0 0.0 0.0 287 0.4 0.0 287 0.4 HarbourVest Global Annual Fund 0.0 0.0 0.0 0.0 0.0 0.0 1,108 1.4 0.0 1,108 1.4 Oaktree Private Investment Fund IV 0.0 0.0 0.0 0.0 0.0 0.0 295 0.4 0.0 295 0.4 Private Equity Composite 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 0 0.0 13,875 17.6 0 0.0 13,875 17.6
Cash Transition Account 0.0 0.0 336 0.4 0.0 0.0 0.0 0.0 0.0 336 0.4
MCM Active Commodities Fund 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2,887 3.7 2,887 3.7
Total Fund Composite 18,748 23.8 9,318 11.8 336 0.4 18,253 23.1 0 0.0 7,586 9.6 13,875 17.6 10,750 13.6 78,866 100.0
As Invested by Managers 18,748 23.8 9,318 11.8 336 0.4 18,253 23.1 0 0 7,586 9.6 13,875 17.6 10,750 13.6 78,866 100.0 As Allocated to Managers 18,748 23.8 9,318 11.8 0 0 18,253 23.1 0 0 7,586 9.6 13,875 17.6 11,086 14.1 78,866 100.0 Total Fund Policy Targets 17,745 22.5 11,830 15.0 0 0 17,745 22.5 0 0 3,943 5.0 9,858 12.5 17,745 22.5 78,866 100.0 2 Chatham University Sources of Fund Growth Total Fund Composite Quarter Ended 3/31/18
Beginning Net Distrib & Invest Invest Ending Time Wtd Value Contrib Adm Fees Fees Gain/Loss Value Return Manager Name $(000) $(000) $(000) $(000) $(000) $(000) (%) Mellon Lg Cap Stock Index 8,014 -200 0 0 -65 7,750 -0.69 DFA Small Cap 1,778 0 0 0 -27 1,751 -1.52 DFA US Sustainability Core 5,218 0 0 0 -11 5,207 -0.21 Mellon Carbon Eff Brd Mkt 4,061 0 0 0 -22 4,040 -0.50 Domestic Equity Composite 19,072 -200 0 0 -124 18,748 -0.57
BlackRock Total Return Bond Fund 3,456 0 28 0 -48 3,380 -1.38 Vanguard S-T TIPS Admiral 3,755 0 0 0 6 3,761 0.20 Vanguard HY Corp Admiral 2,208 0 0 0 -32 2,176 -1.45 Fixed Income Composite 9,419 0 28 0 -73 9,318 -0.78
DFA Emerging Markets Value 1,481 0 0 0 33 1,515 2.24 Oppenheimer Emerging 1,544 0 0 0 46 1,590 2.96 Vanguard Dev Mkt 11,017 0 0 0 -119 10,897 -1.08 International Equity Composite 14,042 0 0 0 -40 14,002 -0.29
Aberdeen Global 2,238 4 0 4 -30 2,209 -1.51 Epoch Global 2,151 0 0 4 -104 2,043 -5.02 Global Equity Composite 4,389 4 0 8 -133 4,252 -3.23
Clarion Lion 7,417 0 0 20 189 7,586 2.28 Real Estate Composite 7,417 0 0 20 189 7,586 2.28
3 Chatham University Sources of Fund Growth Total Fund Composite Quarter Ended 3/31/18
Beginning Net Distrib & Invest Invest Ending Time Wtd Value Contrib Adm Fees Fees Gain/Loss Value Return Manager Name $(000) $(000) $(000) $(000) $(000) $(000) (%) Davidson Kempner Instit Prtnrs, LP 3,928 0 0 0 56 3,984 1.42 Magnitude International 3,780 0 0 0 98 3,878 2.60 Hedge Fund Composite 7,709 0 0 0 154 7,863 2.00
CF Private Equity Capital V 138 5 9 0 0 134 0.00 CF Private Equity Capital VI 514 0 11 0 29 532 5.66 CF Private Equity Capital VII 2,367 4 124 0 0 2,247 0.00 CF Venture Capital IV 26 0 0 0 1 26 2.81 CF Venture Capital V 132 0 10 0 2 124 1.84 CF Venture Capital VI 134 0 12 0 0 123 0.30 CF Venture Capital VII 509 0 36 0 11 484 2.39 CF Venture Capital VIII 1,960 15 80 0 48 1,943 2.50 CF Venture Partners IX 1,552 0 68 0 117 1,601 7.76 CF International Partners V 492 0 62 0 1 431 0.31 CF International Partners VI 597 0 21 0 0 576 0.00 CF International Partners VII 1,163 37 0 0 0 1,200 0.00 CF Natural Resources Partners VII 479 0 18 0 0 461 0.00 CF Natural Resources Ptrs VIII 646 0 12 0 0 634 0.00 CF Venture Partners X 303 1 3 0 19 320 6.45 CF Emerging Markets 2013 392 44 16 0 -8 412 -1.89 CF Global Distressed II 208 -35 0 0 0 173 0.00 Portfolio Advisors PE VI 753 17 0 0 -8 763 -1.01 Portfolio Advisors Pan Asia Select 259 -7 0 0 35 287 13.51
4 Chatham University Sources of Fund Growth Total Fund Composite Quarter Ended 3/31/18
Beginning Net Distrib & Invest Invest Ending Time Wtd Value Contrib Adm Fees Fees Gain/Loss Value Return Manager Name $(000) $(000) $(000) $(000) $(000) $(000) (%) HarbourVest Global Annual Fund 1,081 21 0 0 7 1,108 0.61 Oaktree Private Investment Fund IV 254 35 0 0 6 295 2.18 Private Equity Composite 13,959 137 483 0 262 13,875 1.90
Cash Transition Account 179 141 6 0 22 336 0.35 MCM Active Commodities Fund 2,761 0 0 0 127 2,887 4.59
Total Fund Composite 78,947 82 517 29 382 78,866 0.50
5 Chatham University Growth of One Dollar Total Fund Composite Quarter Ended 3/31/18
13.00 12.00 11.00 10.00 9.00 8.00 7.00 6.00 Value 5.00 4.00 3.00 2.00 1.00 0.00 3/92 3/94 3/96 3/98 3/00 3/02 3/04 3/06 3/08 3/10 3/12 3/14 3/16 3/18
Return $ Legend 3 Years Inception 3/31/91 Value Total 6.96 9.87 12.71 Policy Index 5.85 7.86 7.71
6 Chatham University Value Added Analysis Total Fund Composite Quarter Ended 3/31/18
6.5%
6.0%
5.5%
5.0%
4.5%
4.0%
3.5%
3.0%
2.5%
2.0% 1.62 1.5%
1.0% 0.92 0.77 0.73 0.5% 0.45 0.36 0.35 0.29 0.26 0.18 0.24 0.24 0.25 0.24 0.0% 0.01 -0.12 -0.06 -0.5% -0.34 -0.34 -0.37 -1.0% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. Policy Index Cumulative Value Added 2 Yr Rolling Avg (Annualized)
7 Chatham University Fund Return Table Quarter Ended 3/31/18
Inception Inception Manager Qtr 2 Qtrs 3 Qtrs 1 Yr 3 Yrs 5 Yrs 10 Yrs Date Return
Mellon Lg Cap Stock Index Net of Fee Return -0.69 5.86 10.60 14.01 10.47 13.29 9.65 12/31/06 8.13 Russell 1000 -0.69 5.85 10.59 13.98 10.39 13.17 9.61 12/31/06 8.07 Value Added 0.00 0.00 0.01 0.03 0.08 0.11 0.05 0.05
Mellon Carbon Eff Brd Mkt Net of Fee Return -0.50 5.81 10.80 14.52 3/31/17 14.52 Russell 3000 -0.64 5.65 10.48 13.81 3/31/17 13.81 Value Added 0.15 0.16 0.32 0.71 0.71
DFA Small Cap Net of Fee Return -1.52 2.22 7.76 8.75 8.06 11.62 6/30/09 16.01 Russell 2000 -0.08 3.25 9.11 11.79 8.39 11.47 6/30/09 14.97 Value Added -1.44 -1.04 -1.34 -3.04 -0.33 0.15 1.04
DFA US Sustainability Core Net of Fee Return -0.21 6.68 11.70 14.80 10.13 12.94 9/30/12 14.28 Russell 3000 -0.64 5.65 10.48 13.81 10.22 13.03 9/30/12 13.99 Value Added 0.44 1.03 1.22 0.98 -0.10 -0.09 0.29
Domestic Equity Composite Net of Fee Return -0.57 5.75 10.72 13.90 10.05 13.03 9.68 3/31/91 10.14 Wilshire 5000 -0.76 5.58 10.43 13.69 10.48 13.13 9.65 3/31/91 9.87 Value Added 0.19 0.17 0.29 0.21 -0.43 -0.10 0.03 0.27
8 Chatham University Fund Return Table Quarter Ended 3/31/18
Inception Inception Manager Qtr 2 Qtrs 3 Qtrs 1 Yr 3 Yrs 5 Yrs 10 Yrs Date Return
DFA Emerging Markets Value Net of Fee Return 2.24 10.34 16.47 19.75 10.08 4.33 6/30/09 6.98 MSCI EM Index (N) 1.42 8.96 17.56 24.93 8.81 4.98 6/30/09 7.53 Value Added 0.82 1.39 -1.09 -5.17 1.27 -0.66 -0.56
Oppenheimer Emerging Net of Fee Return 2.96 8.19 17.14 25.25 9.17 5.86 5.95 12/31/05 8.47 MSCI EM Index (N) 1.42 8.96 17.56 24.93 8.81 4.98 3.02 12/31/05 6.68 Value Added 1.55 -0.77 -0.42 0.33 0.36 0.88 2.94 1.79
Vanguard Dev Mkt Net of Fee Return -1.08 3.32 9.06 16.02 3/31/17 16.02 FTSE Developed All Cap ex US Ind -1.72 3.18 9.07 15.93 3/31/17 15.93 Value Added 0.63 0.14 -0.01 0.09 0.09
International Equity Composite Net of Fee Return -0.29 4.57 10.66 17.34 8.46 5.73 2.58 9/30/01 7.54 Policy Index -0.94 3.88 10.03 16.80 5.80 5.04 2.61 9/30/01 7.29 Value Added 0.65 0.69 0.63 0.55 2.66 0.69 -0.03 0.25 MSCI ACWI X US (N) -1.18 3.76 10.16 16.53 6.18 5.89 2.70 9/30/01 7.35 Value Added 0.89 0.81 0.51 0.82 2.28 -0.15 -0.11 0.20
9 Chatham University Fund Return Table Quarter Ended 3/31/18
Inception Inception Manager Qtr 2 Qtrs 3 Qtrs 1 Yr 3 Yrs 5 Yrs 10 Yrs Date Return
Aberdeen Global Net of Fee Return -1.51 3.54 7.40 13.97 5.99 5.46 3/31/12 6.71 MSCI All Country World Index -0.84 4.94 10.51 15.43 8.71 9.79 3/31/12 10.02 Value Added -0.67 -1.40 -3.11 -1.47 -2.72 -4.33 -3.30
Epoch Global Net of Fee Return -5.02 -1.86 1.53 4.54 4.22 6.67 3/31/12 7.76 MSCI All Country World Index -0.84 4.94 10.51 15.43 8.71 9.79 3/31/12 10.02 Value Added -4.17 -6.81 -8.98 -10.90 -4.48 -3.11 -2.26
Global Equity Composite Net of Fee Return -3.23 0.87 4.50 9.38 5.37 6.25 3/31/12 7.39 MSCI All Country World Index -0.84 4.94 10.51 15.43 8.71 9.79 3/31/12 10.02 Value Added -2.38 -4.07 -6.02 -6.05 -3.33 -3.53 -2.63
10 Chatham University Fund Return Table Quarter Ended 3/31/18
Inception Inception Manager Qtr 2 Qtrs 3 Qtrs 1 Yr 3 Yrs 5 Yrs 10 Yrs Date Return
BlackRock Total Return Bond Fund Net of Fee Return -1.38 -1.13 -0.02 1.74 1.50 12/31/14 2.08 Bloomberg Aggregate -1.46 -1.08 -0.24 1.20 1.20 12/31/14 1.60 Value Added 0.08 -0.05 0.22 0.53 0.30 0.48
Vanguard S-T TIPS Admiral Net of Fee Return 0.20 0.41 0.86 0.33 3/31/17 0.33 Bloomberg Barclays US 0-5 TIPS 0.21 0.42 0.90 0.40 3/31/17 0.40 Value Added -0.01 -0.00 -0.04 -0.06 -0.06
Vanguard HY Corp Admiral Net of Fee Return -1.45 12/31/17 -1.45 Policy Index -1.06 12/31/17 -1.06 Value Added -0.39 -0.39
Fixed Income Composite Net of Fee Return -0.78 -0.61 0.50 1.38 2.17 2.26 5.03 6/30/01 5.47 Policy Index -1.03 -0.31 0.92 1.93 2.58 2.28 5.31 6/30/01 5.51 Value Added 0.25 -0.30 -0.42 -0.56 -0.41 -0.02 -0.28 -0.04
11 Chatham University Fund Return Table Quarter Ended 3/31/18
Inception Inception Manager Qtr 2 Qtrs 3 Qtrs 1 Yr 3 Yrs 5 Yrs 10 Yrs Date Return Davidson Kempner Instit Prtnrs, LP Net of Fee Return 1.42 2.25 3.72 5.59 5.08 5.39 12/31/12 5.76 HFRI Event-Driven (Total) Index 0.20 2.12 3.65 5.24 4.13 4.74 12/31/12 5.24 Value Added 1.22 0.13 0.07 0.35 0.94 0.65 0.53
Magnitude International Net of Fee Return 2.60 4.44 6.68 7.17 3.43 4.73 3/31/13 4.73 HFRI Fund-of-Funds Composite 0.29 2.36 4.73 5.57 1.87 3.38 3/31/13 3.38 Value Added 2.31 2.08 1.95 1.60 1.56 1.34 1.34
Hedge Fund Composite Net of Fee Return 2.00 3.32 5.18 6.35 3.30 4.65 3.38 6/30/98 6.54 HFRI Fund-of-Funds Composite 0.29 2.36 4.73 5.57 1.87 3.38 1.55 6/30/98 3.99 Value Added 1.71 0.96 0.45 0.78 1.43 1.27 1.83 2.55
Clarion Lion Net of Fee Return 2.28 4.13 6.06 7.80 9.72 11.23 12/31/08 5.30 NCREIF Open End Div Core EQ NOF 1.97 3.86 5.56 7.11 9.00 10.41 12/31/08 5.92 Value Added 0.31 0.28 0.50 0.69 0.72 0.82 -0.62
Real Estate Composite Net of Fee Return 2.28 4.13 6.06 7.80 9.72 11.23 12/31/08 5.30 NCREIF Open End Div Core EQ NOF 1.97 3.86 5.56 7.11 9.00 10.41 12/31/08 5.92 Value Added 0.31 0.28 0.50 0.69 0.72 0.82 -0.62
12 Chatham University Fund Return Table Quarter Ended 3/31/18
Inception Inception Manager Qtr 2 Qtrs 3 Qtrs 1 Yr 3 Yrs 5 Yrs 10 Yrs Date Return CF Private Equity Capital V Net of Fee Return 0.00 0.17 5.74 8.18 12.70 12.86 10.00 12/31/01 8.79
CF Private Equity Capital VI Net of Fee Return 5.66 6.42 11.27 11.89 8.10 9.45 7.64 6/30/05 1.38
CF Private Equity Capital VII Net of Fee Return 0.00 3.85 10.19 13.57 15.36 19.53 8.73 3/31/07 -24.18
CF Venture Capital IV Net of Fee Return 2.81 3.29 9.03 7.80 -0.31 -3.59 3.11 9/30/98 3.46
CF Venture Capital V Net of Fee Return 1.84 2.78 -2.53 -3.67 -7.86 -3.67 -2.84 12/31/99 -3.08
CF Venture Capital VI Net of Fee Return 0.30 3.79 2.97 6.30 1.27 6.00 7.96 12/31/01 1.36
CF Venture Capital VII Net of Fee Return 2.39 3.74 5.71 6.86 4.41 8.21 8.45 6/30/05 -0.97
CF Venture Capital VIII Net of Fee Return 2.50 7.60 9.40 8.35 3.43 13.58 7.99 9/30/07 3.59
CF Venture Partners IX Net of Fee Return 7.76 13.19 15.06 22.95 16.42 29.35 6/30/10 15.77
13 Chatham University Fund Return Table Quarter Ended 3/31/18
Inception Inception Manager Qtr 2 Qtrs 3 Qtrs 1 Yr 3 Yrs 5 Yrs 10 Yrs Date Return
CF Venture Partners X Net of Fee Return 6.45 11.95 14.80 18.69 14.62 26.39 9/30/12 4.95
CF International Partners V Net of Fee Return 0.31 1.52 4.52 -6.24 4.76 4.06 4.64 6/30/05 2.07
CF International Partners VI Net of Fee Return 0.00 1.24 9.01 5.58 14.87 13.13 5.55 3/31/07 -2.63
14 Chatham University Fund Return Table Quarter Ended 3/31/18
Inception Inception Manager Qtr 2 Qtrs 3 Qtrs 1 Yr 3 Yrs 5 Yrs 10 Yrs Date Return
CF International Partners VII Net of Fee Return 0.00 2.96 8.06 20.71 10.19 15.23 12/31/09 -4.97
CF Natural Resources Partners VII Net of Fee Return 0.00 -0.05 -2.78 -2.21 -4.37 -2.66 5.37 12/31/06 -9.48
CF Natural Resources Ptrs VIII Net of Fee Return 0.00 -0.19 -3.38 -12.28 1.36 1.41 6/30/08 2.91
Private Equity Composite Net of Fee Return 1.90 5.98 9.56 11.69 10.14 12.43 8.19 12/31/90 12.56 Chatham Custom PE Benchmark 2.59 5.20 6.81 8.76 5.87 7.84 5.60 12/31/90 11.75 Value Added -0.69 0.78 2.76 2.93 4.27 4.59 2.59 0.81
15 Chatham University Fund Return Table Quarter Ended 3/31/18
Inception Inception Manager Qtr 2 Qtrs 3 Qtrs 1 Yr 3 Yrs 5 Yrs 10 Yrs Date Return
Cash Transition Account Net of Fee Return 0.35 0.63 0.90 1.10 0.53 0.35 0.38 9/30/05 1.02
Total Fund Composite Net of Fee Return 0.50 4.41 8.10 10.82 6.96 7.81 5.73 3/31/91 9.87 Policy Index 0.24 3.89 7.26 10.02 5.96 6.68 4.86 3/31/91 7.83 Value Added 0.26 0.53 0.84 0.81 1.01 1.14 0.87 2.05
16 Chatham University Sources of Portfolio Growth Total Fund Composite Quarter Ended 3/31/18
Beginning Net Distrib & Invest Invest Ending Time Wtd Value Contrib Adm Fees Fees Gain/Loss Value Return Quarter $(000) $(000) $(000) $(000) $(000) $(000) (%) 06/91 NA NA NA NA NA 5,033 -0.49 09/91 5,033 NA NA NA NA 5,276 5.80 12/91 5,276 NA NA NA NA 6,948 6.96
03/92 6,948 NA NA NA NA 7,104 3.63 06/92 7,104 NA NA NA NA 10,137 1.16 09/92 10,137 NA NA NA NA 10,008 -0.69 12/92 10,008 NA NA NA NA 10,797 8.65 1992 6,948 NA NA NA NA 10,797 13.12 03/93 10,797 NA NA NA NA 11,416 5.73 06/93 11,416 NA NA NA NA 11,479 1.28 09/93 11,479 NA NA NA NA 12,219 7.25 12/93 12,219 NA NA NA NA 12,306 1.09 1993 10,797 NA NA NA NA 12,306 16.11 03/94 12,306 NA NA NA NA 11,950 -2.71 06/94 11,950 NA NA NA NA 11,894 -0.04 09/94 11,894 NA NA NA NA 12,196 3.41 12/94 12,196 NA NA NA NA 11,923 -1.80 1994 12,306 NA NA NA NA 11,923 -1.24 03/95 11,923 NA NA NA NA 12,948 9.22 06/95 12,948 NA NA NA NA 12,222 10.60 09/95 12,222 NA NA NA NA 13,350 9.71 12/95 13,350 NA NA NA NA 11,850 4.90 1995 11,923 NA NA NA NA 11,850 39.02 03/96 11,850 NA NA NA NA 12,645 7.43
17 Chatham University Sources of Portfolio Growth Total Fund Composite Quarter Ended 3/31/18
Beginning Net Distrib & Invest Invest Ending Time Wtd Value Contrib Adm Fees Fees Gain/Loss Value Return Quarter $(000) $(000) $(000) $(000) $(000) $(000) (%) 06/96 12,645 NA NA NA NA 13,171 4.23 09/96 13,171 NA NA NA NA 13,460 3.01 12/96 13,460 NA NA NA NA 14,368 7.81 1996 11,850 NA NA NA NA 14,368 24.35 03/97 14,368 NA NA NA NA 12,620 2.89 06/97 12,620 NA NA NA NA 14,409 14.92 09/97 14,409 NA NA NA NA 15,564 8.92 12/97 15,564 NA NA NA NA 29,124 -2.98 1997 14,368 NA NA NA NA 29,124 24.95 03/98 29,124 NA NA NA NA 32,142 13.05 06/98 32,142 NA NA NA NA 28,121 1.34 09/98 28,121 NA NA NA NA 27,652 -13.08 12/98 27,652 NA NA NA NA 32,154 18.90 1998 29,124 NA NA NA NA 32,154 18.39 03/99 32,154 NA NA NA NA 34,168 5.88 06/99 34,168 NA NA NA NA 36,476 7.73 09/99 36,476 NA NA NA NA 35,008 -4.51 12/99 35,008 NA NA NA NA 39,156 19.55 1999 32,154 NA NA NA NA 39,156 30.22 03/00 39,156 NA NA NA NA 44,089 9.77 06/00 44,089 NA NA NA NA 43,737 -0.59 09/00 43,737 NA NA NA NA 46,330 3.57 12/00 46,330 NA NA NA NA 44,879 -3.35 2000 39,156 NA NA NA NA 44,879 9.24 03/01 44,879 NA NA NA NA 42,160 -10.65
18 Chatham University Sources of Portfolio Growth Total Fund Composite Quarter Ended 3/31/18
Beginning Net Distrib & Invest Invest Ending Time Wtd Value Contrib Adm Fees Fees Gain/Loss Value Return Quarter $(000) $(000) $(000) $(000) $(000) $(000) (%) 06/01 42,160 NA NA NA NA 49,011 4.66 09/01 49,011 NA NA NA NA 44,171 -9.04 12/01 44,171 NA NA NA NA 50,918 6.16 2001 44,879 NA NA NA NA 50,918 -9.70 03/02 50,918 NA NA NA NA 50,396 -0.71 06/02 50,396 NA NA NA NA 48,156 -5.97 09/02 48,156 NA NA NA NA 43,095 -10.73 12/02 43,095 NA NA NA NA 47,275 3.66 2002 50,918 NA NA NA NA 47,275 -13.61 03/03 47,275 NA NA NA NA 45,959 -2.39 06/03 45,959 NA NA NA NA 49,433 10.48 09/03 49,433 NA NA NA NA 52,842 3.69 12/03 52,842 NA NA NA NA 56,964 8.43 2003 47,275 NA NA NA NA 56,964 21.24 03/04 56,964 NA NA NA NA 58,829 3.59 06/04 58,829 NA NA NA NA 53,507 0.19 09/04 53,507 NA NA NA NA 53,349 -0.35 12/04 53,349 NA NA NA NA 56,855 7.52 2004 56,964 NA NA NA NA 56,855 11.21 03/05 56,855 NA NA NA NA 55,493 0.10 06/05 55,493 NA NA NA NA 56,437 2.37 09/05 56,437 NA NA NA NA 56,270 5.13 12/05 56,270 NA NA NA NA 57,575 2.85 2005 56,855 NA NA NA NA 57,575 10.81 03/06 57,575 30 14 0 2,606 60,197 4.56
19 Chatham University Sources of Portfolio Growth Total Fund Composite Quarter Ended 3/31/18
Beginning Net Distrib & Invest Invest Ending Time Wtd Value Contrib Adm Fees Fees Gain/Loss Value Return Quarter $(000) $(000) $(000) $(000) $(000) $(000) (%) 06/06 60,197 29 3,893 0 -1,253 55,080 -2.11 09/06 55,080 81 225 0 864 55,801 1.57 12/06 55,801 114 212 0 3,202 58,906 5.79 2006 57,575 255 4,343 0 5,419 58,906 9.98 03/07 58,906 210 266 0 1,401 60,250 2.64 06/07 60,250 113 4,001 2 3,492 59,853 5.88 09/07 59,853 448 883 7 1,253 60,663 2.37 12/07 60,663 2,507 4,805 10 423 58,778 0.69 2007 58,906 3,277 9,955 20 6,569 58,778 12.01 03/08 58,778 169 471 14 -2,661 55,801 -4.55 06/08 55,801 232 1,730 9 260 54,553 0.34 09/08 54,553 214 848 9 -6,328 47,583 -11.71 12/08 47,583 3 1,116 15 -7,211 39,245 -15.19 2008 58,778 618 4,164 46 -15,940 39,245 -28.29 03/09 39,245 1,256 385 5 -2,599 37,512 -6.50 06/09 37,512 7 111 5 3,711 41,114 9.89 09/09 41,114 21 94 5 4,519 45,555 10.99 12/09 45,555 4 77 16 2,163 47,629 4.69 2009 39,245 1,288 667 30 7,793 47,629 19.39 03/10 47,629 1 109 1 1,761 49,281 3.70 06/10 49,281 22 95 6 -2,534 46,667 -5.16 09/10 46,667 376 496 10 3,761 50,297 8.14 12/10 50,297 1,602 1,720 7 3,477 53,649 6.81 2010 47,629 2,001 2,421 24 6,464 53,649 13.60 03/11 53,649 1,590 236 3 2,320 57,321 4.21
20 Chatham University Sources of Portfolio Growth Total Fund Composite Quarter Ended 3/31/18
Beginning Net Distrib & Invest Invest Ending Time Wtd Value Contrib Adm Fees Fees Gain/Loss Value Return Quarter $(000) $(000) $(000) $(000) $(000) $(000) (%) 06/11 57,321 2,612 217 14 370 60,072 0.67 09/11 60,072 14 224 10 -5,270 54,582 -8.80 12/11 54,582 660 396 11 1,920 56,755 3.55 2011 53,649 4,876 1,073 38 -660 56,755 -0.93 03/12 56,755 17 186 13 4,087 60,661 7.25 06/12 60,661 438 2,423 16 -195 58,465 -0.07 09/12 58,465 45 343 12 2,128 60,283 3.63 12/12 60,283 469 929 12 1,505 61,316 2.37 2012 56,755 969 3,881 52 7,524 61,316 13.70 03/13 61,316 1,520 426 12 343 62,740 4.37 06/13 62,740 411 425 12 -17 62,697 0.00 09/13 62,697 315 556 5 2,624 65,075 4.27 12/13 65,075 5,398 2,442 5 3,278 71,305 4.93 2013 61,316 7,643 3,849 34 6,228 71,305 14.20 03/14 71,305 4,144 815 14 1,828 76,449 2.39 06/14 76,449 5,776 1,851 14 3,338 83,698 4.15 09/14 83,698 299 985 6 -670 82,336 -0.81 12/14 82,336 465 3,746 6 622 79,672 0.75 2014 71,305 10,685 7,396 39 5,118 79,672 6.56 03/15 79,672 2,906 931 6 1,717 83,358 2.09 06/15 83,358 6,129 8,560 6 536 81,458 0.62 09/15 81,458 1,514 517 24 -2,528 79,904 -3.09 12/15 79,904 203 1,017 24 1,648 80,714 2.13 2015 79,672 10,753 11,025 59 1,373 80,714 1.68 03/16 80,714 181 402 25 926 81,395 1.12
21 Chatham University Sources of Portfolio Growth Total Fund Composite Quarter Ended 3/31/18
Beginning Net Distrib & Invest Invest Ending Time Wtd Value Contrib Adm Fees Fees Gain/Loss Value Return Quarter $(000) $(000) $(000) $(000) $(000) $(000) (%) 06/16 81,395 5,635 13,554 25 1,054 74,506 1.32 09/16 74,506 232 797 25 2,035 75,950 2.81 12/16 75,950 68 786 4 1,040 76,268 1.61 2016 80,714 6,116 15,539 79 5,056 76,268 7.03 03/17 76,268 384 913 23 2,267 77,983 3.59 06/17 77,983 287 3,165 23 1,959 77,041 2.52 09/17 77,041 55 2,469 23 2,698 77,302 3.54 12/17 77,302 37 1,411 24 3,044 78,947 3.89 2017 76,268 763 7,958 93 9,967 78,947 14.23 03/18 78,947 82 517 29 382 78,866 0.50
Total 5,033 49,327 72,787 543 45,295 78,866 9.87 Period (Sum) (Sum) (Sum) (Sum) (Annualized)
22 Chatham University Custom Benchmark Specification Total Fund Composite Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Policy Index 3/91 12/04 70.00 Russell 3000 10.00 MSCI EAFE Index (N) 15.00 Bloomberg Int Govt/Credit Index 5.00 91 Day T-Bill Index 3/05 3/06 70.00 Russell 3000 12.00 MSCI EAFE Index (N) 15.00 Bloomberg Int Govt/Credit Index 3.00 Bloomberg Commodity Index 6/06 12/06 5.00 Chatham Custom PE Benchmark 3.00 Bloomberg Commodity Index 20.00 HFRI Fund-of-Funds Composite 12.00 Bloomberg Aggregate 3.00 Merrill Lynch BB/B High Yield 45.00 Wilshire 5000 12.00 MSCI ACWI ex US (N) 3/07 6/07 5.00 Chatham Custom PE Benchmark 3.00 ML High Yield Cash Pay 5.00 Bloomberg Commodity Index 5.50 MSCI EM Index (N) 12.00 Bloomberg Aggregate 17.00 MSCI World X-US (N) 20.00 HFRI Fund-of-Funds Composite 32.50 Wilshire 5000 9/07 9/08 5.00 Chatham Custom PE Benchmark 5.00 Bloomberg Commodity Index
23 Chatham University Custom Benchmark Specification Total Fund Composite Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Policy Index (cont.) 5.50 MSCI EM Index (N) 15.00 Bloomberg Aggregate 17.00 MSCI World X-US (N) 20.00 HFRI Fund-of-Funds Composite 32.50 Wilshire 5000 12/08 12/08 12.50 Chatham Custom PE Benchmark 1.00 NCREIF ODCE NOF 2.50 Bloomberg Commodity Index 5.50 MSCI EM Index (N) 15.00 Bloomberg Aggregate 17.00 MSCI World X-US (N) 20.00 HFRI Fund-of-Funds Composite 26.50 Wilshire 5000 3/09 6/09 12.50 Chatham Custom PE Benchmark 2.50 Bloomberg Commodity Index 5.00 NCREIF ODCE NOF 5.50 MSCI EM Index (N) 15.00 Bloomberg Aggregate 17.00 MSCI World X-US (N) 20.00 HFRI Fund-of-Funds Composite 22.50 Wilshire 5000 9/09 9/09 12.50 Chatham Custom PE Benchmark 2.50 Bloomberg Commodity Index 5.00 NCREIF ODCE NOF 5.00 Bloomberg U.S. TIPS
24 Chatham University Custom Benchmark Specification Total Fund Composite Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Policy Index (cont.) 5.00 CS High Yield 5.00 Bloomberg Aggregate 11.25 MSCI EM Index (N) 11.25 MSCI World X-US (N) 20.00 HFRI Fund-of-Funds Composite 22.50 Wilshire 5000 12/09 6/10 12.50 Chatham Custom PE Benchmark 20.00 HFRI Fund-of-Funds Composite 2.50 Bloomberg Commodity Index 5.00 NCREIF ODCE NOF 5.00 Bloomberg U.S. TIPS 5.00 CS High Yield 5.00 Bloomberg Aggregate 7.50 MSCI World X-US (N) 15.00 MSCI EM Index (N) 22.50 Wilshire 5000 9/10 12/11 12.50 Chatham Custom PE Benchmark 7.50 MSCI EAFE Index (N) 15.00 MSCI EM Index (N) 20.00 HFRI Fund-of-Funds Composite 2.50 Bloomberg Commodity Index 5.00 NCREIF ODCE NOF 5.00 Bloomberg U.S. TIPS 5.00 CS High Yield 5.00 Bloomberg Aggregate
25 Chatham University Custom Benchmark Specification Total Fund Composite Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Policy Index (cont.) 22.50 Wilshire 5000 3/12 12/14 12.50 Chatham Custom PE Benchmark 11.25 MSCI EM Index (N) 20.00 HFRI Fund-of-Funds Composite 2.50 Bloomberg Commodity Index 5.00 NCREIF ODCE NOF 5.00 Bloomberg U.S. TIPS 5.00 CS High Yield 5.00 Bloomberg Aggregate 22.50 Wilshire 5000 11.25 MSCI EAFE Index (N) 3/15 3/15 20.00 Chatham Custom PE Benchmark 14.50 MSCI EAFE Index (N) 8.00 MSCI EM Index (N) 22.50 Wilshire 5000 5.00 Bloomberg Aggregate 5.00 CS High Yield 5.00 Bloomberg U.S. TIPS 5.00 NCREIF ODCE NOF 2.50 Bloomberg Commodity Index 12.50 HFRI Fund-of-Funds Composite 6/15 9/15 20.00 Chatham Custom PE Benchmark 12.50 HFRI Fund-of-Funds Composite 22.00 Wilshire 5000 5.00 Bloomberg Aggregate
26 Chatham University Custom Benchmark Specification Total Fund Composite Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Policy Index (cont.) 2.50 CS High Yield 5.00 Bloomberg U.S. TIPS 7.50 NCREIF ODCE NOF 3.50 Bloomberg Commodity Index 14.00 MSCI EAFE Index (N) 8.00 MSCI EM Index (N) 12/15 3/18 20.00 Chatham Custom PE Benchmark 12.50 HFRI Fund-of-Funds Composite 22.00 Wilshire 5000 5.00 Bloomberg Aggregate 2.50 CS High Yield 5.00 Bloomberg U.S. TIPS 7.50 NCREIF ODCE NOF 3.50 Bloomberg Commodity Index 17.60 MSCI EAFE Index (N) 4.40 MSCI EM Index (N)
27 Chatham University Fund Return Table Quarter Ended 3/31/18
Since Inception Inception Manager 1 Quarter 2 Quarters 3 Quarters 1 Year 3 Years 5 Years 3/31/08 Date Return Mellon Lg Cap Stock Index -0.69 5.86 10.60 14.01 10.47 13.29 9.65 12/31/06 8.13 Russell 1000 -0.69 5.85 10.59 13.98 10.39 13.17 9.61 12/31/06 8.07 Value Added 0.00 0.00 0.01 0.03 0.08 0.11 0.05 0.05
Mellon Carbon Eff Brd Mkt -0.50 5.81 10.80 14.52 3/31/17 14.52 Russell 3000 -0.64 5.65 10.48 13.81 3/31/17 13.81 Value Added 0.15 0.16 0.32 0.71 0.71
DFA Small Cap -1.52 2.22 7.76 8.75 8.06 11.62 6/30/09 16.01 Russell 2000 -0.08 3.25 9.11 11.79 8.39 11.47 6/30/09 14.97 Value Added -1.44 -1.04 -1.34 -3.04 -0.33 0.15 1.04
DFA US Sustainability Core -0.21 6.68 11.70 14.80 10.13 12.94 9/30/12 14.28 Russell 3000 -0.64 5.65 10.48 13.81 10.22 13.03 9/30/12 13.99 Value Added 0.44 1.03 1.22 0.98 -0.10 -0.09 0.29
Domestic Equity Composite -0.57 5.75 10.72 13.90 10.05 13.03 9.68 3/31/91 10.14 Wilshire 5000 -0.76 5.58 10.43 13.69 10.48 13.13 9.65 3/31/91 9.87 Value Added 0.19 0.17 0.29 0.21 -0.43 -0.10 0.03 0.27
1 Chatham University Growth of One Dollar Domestic Equity Composite Quarter Ended 3/31/18
14.00 13.00 12.00 11.00 10.00 9.00 8.00 7.00
Value 6.00 5.00 4.00 3.00 2.00 1.00 0.00 3/92 3/94 3/96 3/98 3/00 3/02 3/04 3/06 3/08 3/10 3/12 3/14 3/16 3/18
Return $ Legend 3 Years Inception 3/31/91 Value Total 10.05 10.14 13.57 Wilshire 5000 10.48 9.87 12.71
2 Chatham University Value Added Analysis Domestic Equity Composite Quarter Ended 3/31/18
1.2%
1.0%
0.8%
0.6% 0.48 0.4% 0.41 0.39 0.33 0.31
0.2% 0.21 0.21 0.19 0.15 0.14 0.11
-0.0% -0.04 -0.08 -0.08 -0.2% -0.1
-0.4% -0.38 -0.46 -0.49 -0.6%
-0.8% -0.7
-1.0% -1.0 -1.2% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. Wilshire 5000 Cumulative Value Added 2 Yr Rolling Avg (Annualized)
3 Chatham University Performance Comparison TUCS Total Ret of US Equity Investment Pools Periods Ended 3/31/18 22% 20% 18%
16% e 1 14% e 1 e 1 12% 10% e 1 1 e e 1 8%
Rate of Return 6% e 1 4%
2% 5th 0% 25th Med 75th e 1 -2% 95th -4% Manager returns are Gross of Fees 1 Quarter 2 Quarters 3 Quarters 1 Year 2 Years 3 Years 5 Years 10 Years
e Domestic Equity Composit -0.57 (48) 5.75 (43) 10.72 (38) 13.90 (44) 15.76 (60) 10.05 (38) 13.03 (38) 9.71 (37) 1 Wilshire 5000 -0.76 (64) 5.58 (53) 10.43 (56) 13.69 (58) 15.99 (45) 10.48 (18) 13.13 (27) 9.65 (40)
Median -0.60 5.65 10.51 13.86 15.93 9.89 12.78 9.52 Number of Funds 109 108 105 104 100 93 78 66
4 Chatham University Performance Comparison TUCS Total Ret of Large Neutral Equity Portfolios Periods Ended 3/31/18 22% 20% 18% 16% 1 14% 1 1 12% 10% 1 1 1 8%
Rate of Return 6% 1 4%
2% 5th 0% 25th Med 1 -2% 75th -4% 95th Manager returns are Gross of Fees 1 Quarter 2 Quarters 3 Quarters 1 Year 2 Years 3 Years 5 Years 10 Years
Mellon Lg Cap Stock Inde -0.69 (48) 5.86 (45) 10.60 (45) 14.01 (45) 15.73 (51) 10.47 (46) 13.29 (41) 9.69 (41) 1 Russell 1000 -0.69 (48) 5.85 (48) 10.59 (46) 13.98 (47) 15.69 (52) 10.39 (51) 13.17 (50) 9.61 (47)
Median -0.70 5.83 10.57 13.96 15.84 10.39 13.17 9.59 Number of Funds 94 93 92 92 91 91 81 48
5 Chatham University Performance Comparison Total Returns of Lipper Equity Income Mutual Funds Periods Ended 3/31/18 18% 16% c 14% 1 12% 10% c 1 8% 6% c 1 4% Rate of Return 2%
0% 5th c 1 25th -2% Med 75th -4% 95th -6% Manager returns are Gross of Fees 1 Quarter 2 Quarters 3 Quarters 1 Year 2 Years 3 Years 5 Years 10 Years
c Mellon Carbon Eff Brd Mk -0.50 ( 7) 5.81 ( 9) 10.80 ( 6) 14.52 ( 3) 1 Russell 3000 -0.64 ( 8) 5.65 (10) 10.48 ( 8) 13.81 ( 4)
Median -2.38 3.18 7.08 9.26 12.36 7.69 9.79 7.83 Number of Funds 564 554 540 532 486 454 376 232
6 Chatham University Performance Comparison Total Returns of Lipper Equity Income Mutual Funds Periods Ended 3/31/18 20% 18% 1 16% 14% 12% 1 1 10% 1 8% 1 6%
Rate of Return 4% 1 2%
0% 5th 1 25th -2% Med 75th -4% 95th -6% Manager returns are Gross of Fees 1 Quarter 2 Quarters 3 Quarters 1 Year 2 Years 3 Years 5 Years 10 Years
DFA Small Cap -1.52 (23) 2.22 (65) 7.76 (40) 8.75 (56) 15.42 ( 7) 8.06 (42) 11.62 (10) 1 Russell 2000 -0.08 ( 3) 3.25 (48) 9.11 (19) 11.79 (15) 18.79 ( 2) 8.39 (36) 11.47 (12)
Median -2.38 3.18 7.08 9.26 12.36 7.69 9.79 7.83 Number of Funds 564 554 540 532 486 454 376 232
7 Chatham University Performance Comparison TUCS Total Ret of Large Neutral Equity Portfolios Periods Ended 3/31/18 22% 20% 18% 16% 14% 12% 10% 8%
Rate of Return 6% 4%
2% 5th 0% 25th Med -2% 75th -4% 95th Manager returns are Gross of Fees 1 Quarter 2 Quarters 3 Quarters 1 Year 2 Years 3 Years 5 Years 10 Years
DFA US Sustainability Co -0.21 (35) 6.68 (32) 11.70 (26) 14.80 (34) 16.56 (38) 10.13 (60) 12.94 (61) Standard & Poor's 500 -0.76 (60) 5.84 (48) 10.58 (48) 13.99 (46) 15.57 (61) 10.78 (38) 13.31 (40) 9.49 (56)
Median -0.70 5.83 10.57 13.96 15.84 10.39 13.17 9.59 Number of Funds 94 93 92 92 91 91 81 48
8 Chatham University Equity Fund Structural Characteristics Domestic Equity Composite Quarter Ended 3/31/18
% % % Sectors Turn- Manager $(000) # Equity Cash Other ENR MAT IND CDI CST HTH FIN INF TEL UTI RES Over Mellon Lg Cap Stock Index 7,750 975 100 0 0 6 3 11 13 7 13 15 24 2 3 3 NA DFA Small Cap 1,751 1,816 100 0 0 6 5 20 16 4 9 21 14 1 3 1 NA DFA US Sustainability Core 5,207 2,113 100 0 0 2 3 14 18 6 13 17 23 2 1 0 NA Mellon Carbon Eff Brd Mkt 4,040 854 100 0 0 5 3 11 13 7 13 15 25 2 3 4 NA Domestic Equity Composite 18,748 2,864 100 0 0 5 3 12 15 7 13 16 23 2 2 2 NA
Wilshire 5000 23,471,447 3,483 100 0 0 6 3 11 13 7 13 16 24 2 3 4 NA
9 Chatham University Equity Structural Characteristics Domestic Equity Composite Quarter Ended 3/31/18
# % % % Sectors Turn- Quarter $(000) Stocks Equity Cash Other ENR MAT IND CDI CST HTH FIN INF TEL UTL RES Over 06/30/13 14,869 3,147 100 0 0 10 4 12 14 9 12 17 17 3 3 0 NA 09/30/13 15,820 3,139 100 0 0 10 4 12 14 8 12 17 18 2 3 0 NA 12/31/13 17,464 3,115 100 0 0 9 4 12 14 8 12 16 18 2 3 0 NA 03/31/14 17,802 3,118 100 0 0 10 4 12 14 8 13 16 18 2 3 0 NA 06/30/14 18,649 2,463 100 0 0 11 4 12 13 8 13 15 18 3 3 0 NA 09/30/14 18,562 3,078 100 0 0 9 4 12 13 8 13 16 19 3 3 0 NA 12/31/14 19,544 2,997 100 0 0 8 4 12 14 8 13 16 19 2 3 0 NA 03/31/15 19,922 2,958 100 0 0 7 4 12 14 8 14 16 19 2 3 0 NA 06/30/15 17,984 2,971 100 0 0 7 4 12 14 8 14 17 19 2 3 0 0.0 09/30/15 16,650 2,948 100 0 0 7 3 12 15 9 14 18 18 2 3 0 NA 12/31/15 17,578 2,878 100 0 0 6 3 12 14 8 14 17 20 2 3 0 0.1 03/31/16 17,798 2,821 100 0 0 5 3 12 15 9 13 16 21 3 3 0 0.0 06/30/16 14,075 2,768 100 0 0 6 4 11 15 9 14 16 19 3 3 0 NA 09/30/16 14,703 2,743 100 0 0 6 4 12 14 8 14 16 21 3 3 0 NA 12/31/16 15,422 2,745 100 0 0 6 4 12 14 8 13 16 20 3 3 2 NA 03/31/17 17,653 2,885 100 0 0 5 3 12 14 8 13 16 21 2 3 3 NA 06/30/17 18,142 2,907 100 0 0 5 3 12 14 8 13 16 21 2 3 3 NA 09/30/17 17,947 2,874 100 0 0 5 4 12 14 7 13 16 22 2 3 3 NA 12/31/17 19,072 2,857 100 0 0 5 4 12 14 7 13 16 22 2 2 3 NA 03/31/18 18,748 2,864 100 0 0 5 3 12 15 7 13 16 23 2 2 2 NA
Wilshire 5000 23,471,447 3,483 100 0 0 6 3 11 13 7 13 16 24 2 3 4 NA ENR - Energy CST - Consumer Staples TEL - Telecommunication Services MAT- Materials HTH- Health Care UTL - Utilities IND - Industrials FIN - Financials RES - Real Estate CDI - Consumer Discretionary INF - Information Technology 10 Chatham University Equity Investment Characteristics Domestic Equity Composite Quarter Ended 3/31/18
Growth Average $ Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Market Cap(Mil) P/E P/B YLD ROE Beta Debt/Eqt R Square 06/30/13 7.5 5.2 79,196 19.0 2.2 1.9 16.4 1.09 0.50 0.96 09/30/13 7.8 6.1 78,499 19.5 1.9 1.8 16.0 1.10 0.50 0.96 12/31/13 7.8 6.1 87,857 20.5 2.1 1.7 15.8 1.10 0.49 0.95 03/31/14 11.0 7.5 86,445 20.2 2.5 1.7 16.8 1.09 0.52 0.95 06/30/14 11.4 8.0 96,961 20.4 2.6 1.8 17.2 1.06 0.52 0.98 09/30/14 10.7 6.6 95,878 20.1 2.2 1.8 16.9 1.07 0.52 0.98 12/31/14 10.8 7.8 96,051 20.2 2.4 1.8 17.4 1.06 0.53 0.98 03/31/15 10.5 7.8 97,666 20.7 2.4 1.8 17.5 1.07 0.54 0.98 06/30/15 10.3 7.8 98,866 21.5 2.3 1.8 17.3 1.06 0.54 0.98 09/30/15 9.2 7.4 90,582 19.5 2.1 2.1 17.8 1.06 0.57 0.97 12/31/15 7.3 7.6 103,302 21.0 2.2 2.0 18.4 1.06 0.57 0.97 03/31/16 7.5 7.6 106,929 20.8 2.6 1.9 18.8 1.05 0.57 0.98 06/30/16 7.1 7.6 104,517 21.4 2.6 2.0 18.4 1.05 0.58 0.98 09/30/16 7.1 7.6 111,125 22.7 2.4 1.9 18.3 1.04 0.58 0.97 12/31/16 6.5 7.3 112,337 24.2 2.5 1.9 17.7 1.04 0.58 0.95 03/31/17 5.2 7.4 121,886 26.0 2.5 1.8 16.4 1.04 0.63 0.95 06/30/17 5.6 7.3 123,881 25.3 2.6 1.8 16.4 1.05 0.63 0.94 09/30/17 5.9 7.2 129,000 25.6 2.6 1.7 16.8 1.05 0.65 0.93 12/31/17 5.7 6.8 149,762 26.7 2.8 1.7 16.6 1.05 0.63 0.94 03/31/18 6.2 6.5 145,653 26.2 2.6 1.7 16.6 1.04 0.65 0.94
Wilshire 5000 8.3 7.1 176,625 26.2 2.6 1.9 16.7 1.00 0.94 0.97
11 Chatham University Equity Return Analysis Domestic Equity Composite Quarter Ended 3/31/18
Net Management Effect Total Equity Sector Stock Quarter Index* Return Return Timing Weighting Selection Trading Total 06/13 2.77 2.92 3.16 -0.24 0.02 0.21 0.16 0.15 09/13 6.03 6.44 6.41 0.03 0.14 0.25 -0.01 0.41 12/13 10.11 10.50 10.40 0.09 0.06 0.46 -0.22 0.39
03/14 2.04 1.94 1.94 0.00 -0.09 0.01 -0.02 -0.10 06/14 4.86 4.79 4.76 0.03 0.04 -0.06 -0.08 -0.08 09/14 0.08 -0.38 -0.46 0.08 -0.12 0.13 -0.55 -0.46 12/14 5.26 5.40 5.27 0.13 -0.07 0.19 -0.11 0.14 2014 12.71 12.16 11.90 0.26 -0.26 0.29 -0.85 -0.55 03/15 1.61 1.94 1.94 0.01 0.08 0.31 -0.06 0.33 06/15 0.06 0.26 0.17 0.09 -0.01 0.30 -0.17 0.21 09/15 -6.91 -7.40 -7.41 0.01 -0.05 -0.35 -0.10 -0.49 12/15 6.36 5.67 5.56 0.10 -0.00 -0.94 0.14 -0.70 2015 0.67 0.01 -0.19 0.20 0.01 -0.67 -0.20 -0.65 03/16 1.17 1.38 0.91 0.47 0.06 0.03 -0.36 0.21 06/16 2.78 1.78 1.62 0.15 -0.29 -0.77 -0.09 -1.00 09/16 4.29 4.60 4.17 0.43 0.15 0.12 -0.40 0.31 12/16 4.54 5.02 4.57 0.45 -0.16 1.20 -1.00 0.48 2016 13.37 13.35 11.71 1.64 -0.26 0.60 -2.00 -0.02 03/17 5.61 5.23 4.84 0.39 0.26 -0.37 -0.66 -0.38 06/17 2.95 2.86 2.78 0.09 0.16 -0.22 -0.11 -0.08 09/17 4.59 4.70 4.71 -0.02 0.07 0.05 0.01 0.11 12/17 6.39 6.36 6.27 0.09 0.15 -0.15 -0.13 -0.04 2017 20.99 20.54 19.90 0.63 0.73 -0.80 -1.02 -0.45 Index* : Wilshire 5000 12 Chatham University Equity Return Analysis Domestic Equity Composite Quarter Ended 3/31/18
Net Management Effect Total Equity Sector Stock Quarter Index* Return Return Timing Weighting Selection Trading Total 03/18 -0.76 -0.57 -0.68 0.11 0.20 -0.02 -0.11 0.19
From Inception 13.13 13.03 12.48 0.55 0.13 0.07 -0.84 -0.10 Avg Up Markets 3.97 3.97 3.83 0.13 -0.00 Avg Down Markets -3.83 -3.98 -4.04 0.06 -0.15 Index* : Wilshire 5000 13 Chatham University Equity Sector Attribution Analysis Domestic Equity Composite Quarter Ended 3/31/18
Portfolio Wilshire 5000 Selection Sector Mkt Val % Return Mkt Val % Return Stock Sector Total Real Estate 2.50 -5.14 4.22 -6.21 0.03 0.09 0.12 Financials 16.19 -0.16 15.60 -0.73 0.09 0.00 0.09 Consumer Staples 6.99 -6.23 7.71 -6.80 0.04 0.04 0.08 Energy 4.81 -5.83 5.87 -5.89 0.00 0.05 0.06 Health Care 12.76 -0.43 12.59 -0.63 0.03 0.00 0.03 Telecom Services 2.03 -6.99 2.03 -7.35 0.01 0.00 0.01 Materials 3.58 -5.08 3.25 -5.33 0.01 -0.01 -0.01 Utilities 2.44 -4.25 2.98 -3.37 -0.02 0.01 -0.01 Industrials 12.43 -1.98 10.79 -1.79 -0.02 -0.02 -0.04 Consumer Discretionary 14.18 1.31 12.36 2.13 -0.12 0.05 -0.06 Information Technology 22.09 3.79 22.61 4.07 -0.06 -0.02 -0.09 Quarter Total 100.00 -0.57 100.00 -0.76 -0.02 0.20 0.19
Stock Selection Return Attribution = [ Portfolio Market Value Sector Percent ] x [ Portfolio Sector Return - Index Sector Return]
Sector Selection Return Attribution = [ Portfolio Sector Percent - Index Sector Percent ] x [ Index Sector Return - Index Total Return ]
Trading Effect -0.11% = [ Actual Return -0.68% ] - [ Buy Hold Return -0.57% ]
14 Chatham University Equity Summary Statistics Domestic Equity Composite Quarter Ended 3/31/18
10 Largest Holdings 10 Best Performers Name %Port $(000) Name %Port %Return Apple Inc 3.2 606 Bluelinx Hldgs Inc 0.0 233.91 Amazon Com Inc 2.3 427 Pfenex Inc 0.0 125.56 Microsoft Corp 2.3 423 Atara Biotherapeutic 0.0 115.47 J P Morgan Chase & C 1.3 245 Iovance Biotherapeut 0.0 111.25 Facebook Inc 1.2 229 Juniper Pharmaceutic 0.0 109.28 Alphabet Inc Cl-A 1.2 221 Cambium Learning Grp 0.0 97.18 Johnson & Johnson 1.2 220 Alliance One Intl In 0.0 96.60 Berkshire Hathaway I 0.9 174 Arrowhead Pharmaceut 0.0 95.92 Bank Amer Corp 0.9 162 Catalyst Biosciences 0.0 89.15 Intel Corp 0.8 156 Performant Finl Corp 0.0 81.82
Portfolio Characteristic Distribution (%) 10 Worst Performers Quartile Mkt. Cap P/E Yield Name %Port %Return 1st 84.6 32.9 39.7 Dermira Inc 0.0 -71.27 2nd 12.2 37.9 60.3 Ascent Media Corp 0.0 -67.97 3rd 3.0 29.3 0.0 Roadrunner Trnsn Svc 0.0 -67.06 4th 0.2 0.0 0.0 Autoweb Inc 0.0 -66.93 Wilshire 5000 Willbros Group Inc D 0.0 -61.09 Sino Global Shipping 0.0 -56.25 25th Percentile 4,118,497 29.2 2.0 Lipocine Inc New 0.0 -55.52 50th Percentile 1,088,410 17.4 0.0 Ultra Petroleum Corp 0.0 -53.97 75th Percentile 240,505 -3.5 0.0 Melinta Therapeutics 0.0 -53.16 Tetraphase Pharmaceu 0.0 -51.27
15 Chatham University Custom Benchmark Specification Domestic Equity Composite Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Wilshire 5000 3/91 3/18 100.00 Wilshire 5000
16 Chatham University Growth of One Dollar Mellon Lg Cap Stock Index Quarter Ended 3/31/18
2.60
2.40
2.20
2.00
1.80
1.60
Value 1.40
1.20
1.00
0.80
0.60
0.40 3/07 3/08 3/09 3/10 3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 12/31/06 Value Total 10.47 8.13 2.41 Russell 1000 10.39 8.07 2.40
1 Chatham University Value Added Analysis Mellon Lg Cap Stock Index Quarter Ended 3/31/18
0.6%
0.5%
0.4%
0.3%
0.2% 0.19
0.1% 0.09 0.10 0.07 0.07
0.01 0.02 0.01 0.02 0.02 0.01 0.0% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.01
-0.06 -0.1%
-0.2% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. Russell 1000 Cumulative Value Added 2 Yr Rolling Avg (Annualized)
2 Chatham University Equity Structural Characteristics Mellon Lg Cap Stock Index Quarter Ended 3/31/18
# % % % Sectors Turn- Quarter $(000) Stocks Equity Cash Other ENR MAT IND CDI CST HTH FIN INF TEL UTL RES Over 06/30/07 13,932 1,021 27 73 0 11 4 12 11 9 11 21 15 4 4 0 NA 09/30/07 13,537 1,011 100 0 0 11 4 12 10 9 11 19 16 4 4 0 NA 12/31/07 9,113 999 100 0 0 12 4 12 9 10 12 18 16 3 4 0 NA 03/31/08 8,250 998 100 0 0 13 4 12 9 10 12 17 15 3 4 0 NA 06/30/08 8,092 1,005 100 0 0 16 5 11 9 10 12 14 17 3 4 0 NA 09/30/08 6,862 998 100 0 0 13 4 11 9 11 13 16 16 3 4 0 NA 12/31/08 5,314 985 100 0 0 13 3 11 9 12 14 14 15 4 4 0 NA 03/31/09 4,763 882 100 0 0 13 4 10 9 13 13 10 18 4 5 0 NA 06/30/09 5,553 971 100 0 0 12 4 10 10 11 14 14 18 3 4 0 NA 09/30/09 6,442 967 100 0 0 11 4 10 10 11 13 15 18 3 4 0 NA 12/31/09 6,819 965 100 0 0 11 4 10 10 11 13 14 19 3 4 0 NA 03/31/10 7,225 961 100 0 0 11 4 11 11 11 12 16 19 3 4 0 NA 06/30/10 6,402 978 100 0 0 10 4 11 11 10 12 17 18 3 4 0 NA 09/30/10 7,140 982 100 0 0 10 4 11 11 10 12 16 19 3 4 0 NA 12/31/10 7,939 976 100 0 0 12 4 11 11 10 11 16 18 3 3 0 NA 03/31/11 8,435 973 100 0 0 12 4 12 11 9 11 16 18 3 3 0 NA 06/30/11 8,449 985 100 0 0 12 4 11 12 9 12 15 18 3 3 0 NA 09/30/11 7,208 980 100 0 0 11 4 10 12 11 12 14 19 3 4 0 NA 12/31/11 8,062 979 100 0 0 12 4 11 12 10 12 14 18 3 4 0 NA 03/31/12 9,102 979 100 0 0 11 4 11 12 10 11 15 20 3 3 0 NA 06/30/12 7,783 990 100 0 0 10 4 11 12 10 12 15 19 3 4 0 NA 09/30/12 5,648 986 100 0 0 11 4 10 12 10 12 16 19 3 4 0 NA Russell 1000 24,959,647 975 100 0 0 6 3 11 13 7 13 15 24 2 3 3 NA ENR - Energy CST - Consumer Staples TEL - Telecommunication Services MAT- Materials HTH- Health Care UTL - Utilities IND - Industrials FIN - Financials RES - Real Estate CDI - Consumer Discretionary INF - Information Technology Characteristics represent 100% of portfolio's market value. 3 Chatham University Equity Structural Characteristics Mellon Lg Cap Stock Index Quarter Ended 3/31/18
# % % % Sectors Turn- Quarter $(000) Stocks Equity Cash Other ENR MAT IND CDI CST HTH FIN INF TEL UTL RES Over 12/31/12 5,660 990 100 0 0 10 4 11 12 10 12 16 18 3 3 0 NA 03/31/13 6,264 993 100 0 0 10 4 11 12 10 12 17 17 3 4 0 NA 06/30/13 6,426 1,003 100 0 0 10 4 11 13 10 12 17 17 3 3 0 NA 09/30/13 6,813 1,009 100 0 0 10 4 11 13 9 13 17 18 2 3 0 NA 12/31/13 7,509 1,014 100 0 0 10 4 11 13 9 13 17 18 2 3 0 NA 03/31/14 7,664 1,021 100 0 0 10 4 11 13 9 13 17 18 2 3 0 NA 06/30/14 8,056 1,027 100 0 0 10 4 11 12 9 13 17 18 2 3 0 NA 09/30/14 8,110 1,036 100 0 0 9 4 11 12 9 14 17 19 2 3 0 NA 12/31/14 8,508 1,043 100 0 0 8 4 11 13 9 14 17 19 2 3 0 NA 03/31/15 8,645 1,035 100 0 0 8 4 11 13 9 15 17 19 2 3 0 NA 06/30/15 8,211 1,028 100 0 0 7 3 11 13 9 15 17 19 2 3 0 NA 09/30/15 7,657 1,032 100 0 0 7 3 11 14 9 15 18 18 2 3 0 NA 12/31/15 8,154 1,032 100 0 0 6 3 11 13 9 15 18 20 2 3 0 NA 03/31/16 8,249 1,016 100 0 0 6 3 11 14 10 14 16 20 3 3 0 NA 06/30/16 6,945 1,001 100 0 0 7 3 10 13 10 15 16 19 3 4 0 NA 09/30/16 7,227 998 100 0 0 7 3 10 13 9 14 16 21 3 3 0 NA 12/31/16 7,503 999 100 0 0 7 3 11 12 9 13 15 20 3 3 4 NA 03/31/17 7,979 998 100 0 0 6 3 10 13 9 13 15 21 2 3 4 NA 06/30/17 8,209 989 100 0 0 6 3 10 13 8 14 15 22 2 3 4 NA 09/30/17 7,534 980 100 0 0 6 3 11 12 8 14 15 23 2 3 4 NA 12/31/17 8,014 978 100 0 0 6 3 11 12 8 13 15 23 2 3 4 NA 03/31/18 7,750 975 100 0 0 6 3 11 13 7 13 15 24 2 3 3 NA Russell 1000 24,959,647 975 100 0 0 6 3 11 13 7 13 15 24 2 3 3 NA ENR - Energy CST - Consumer Staples TEL - Telecommunication Services MAT- Materials HTH- Health Care UTL - Utilities IND - Industrials FIN - Financials RES - Real Estate CDI - Consumer Discretionary INF - Information Technology Characteristics represent 100% of portfolio's market value. 4 Chatham University Equity Investment Characteristics Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Growth Average $ Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Market Cap(Mil) P/E P/B YLD ROE Beta Debt/Eqt R Square 06/30/07 14.6 5.4 90,317 18.3 2.9 1.7 20.1 1.02 0.42 0.99 09/30/07 15.0 5.4 96,714 18.1 2.9 1.8 20.6 1.02 0.40 0.97 12/31/07 15.6 5.4 96,305 18.0 2.7 1.9 21.0 1.03 0.39 0.96 03/31/08 15.9 6.2 86,508 17.3 2.4 2.1 19.9 1.02 0.41 0.97 06/30/08 16.3 6.0 79,181 17.9 2.3 2.1 20.2 1.02 0.40 0.94 09/30/08 15.3 6.2 77,355 15.6 2.1 2.3 20.3 1.02 0.41 0.98 12/31/08 15.4 5.9 72,588 11.7 1.7 2.9 20.8 1.03 0.40 0.98 03/31/09 12.7 6.3 64,496 13.5 1.6 2.8 22.7 1.01 0.44 0.98 06/30/09 10.2 5.9 64,058 17.7 1.7 2.2 20.5 1.02 0.45 0.98 09/30/09 9.3 5.6 69,197 27.8 1.9 1.9 19.4 1.02 0.47 0.98 12/31/09 9.3 5.7 73,517 33.0 2.1 1.9 19.0 1.02 0.47 0.98 03/31/10 4.7 3.9 75,137 22.8 2.1 1.8 15.9 1.02 0.46 0.98 06/30/10 4.9 4.0 66,407 17.2 1.8 2.1 15.9 1.02 0.44 0.98 09/30/10 4.9 4.0 71,430 17.7 2.0 1.9 16.0 1.02 0.44 0.98 12/31/10 4.5 4.3 78,159 18.0 2.3 1.8 15.8 1.02 0.43 0.98 03/31/11 4.4 4.1 82,505 17.8 2.2 1.8 17.0 1.02 0.47 0.98 06/30/11 4.7 4.1 78,896 16.9 2.3 1.9 17.4 1.03 0.48 0.98 09/30/11 5.9 4.5 77,197 13.8 1.9 2.3 18.2 1.02 0.47 0.98 12/31/11 5.6 4.5 85,098 14.8 2.1 2.1 18.0 1.03 0.47 0.99 03/31/12 6.0 4.6 99,699 16.7 2.4 2.0 18.1 1.03 0.47 0.98 06/30/12 7.5 4.6 98,075 15.8 2.2 2.1 19.3 1.03 0.49 0.98 09/30/12 7.7 4.5 108,177 16.7 2.3 2.1 19.2 1.02 0.48 0.98 Russell 1000 8.3 7.6 174,105 25.2 2.7 1.9 17.3 1.00 0.96 0.98
Characteristics represent 100% of portfolio's market value. 5 Chatham University Equity Investment Characteristics Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Growth Average $ Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Market Cap(Mil) P/E P/B YLD ROE Beta Debt/Eqt R Square 12/31/12 7.1 4.4 94,298 16.3 2.3 2.2 18.7 1.02 0.50 0.98 03/31/13 7.8 6.2 94,448 18.4 2.3 2.0 17.6 1.02 0.51 0.98 06/30/13 7.8 6.0 94,202 18.8 2.4 2.1 17.2 1.02 0.51 0.98 09/30/13 8.1 7.2 94,714 18.9 2.0 2.0 17.0 1.02 0.50 0.98 12/31/13 8.3 7.3 107,446 20.0 2.2 1.9 17.0 1.04 0.50 0.97 03/31/14 10.8 8.6 106,643 19.6 2.7 1.9 17.7 1.03 0.53 0.97 06/30/14 10.9 8.7 110,643 20.7 2.7 1.9 17.5 1.02 0.53 0.99 09/30/14 10.4 7.3 115,256 20.4 2.3 1.9 17.5 1.01 0.54 0.99 12/31/14 10.3 8.7 115,870 20.4 2.4 1.9 17.7 1.01 0.55 0.99 03/31/15 10.1 8.5 117,103 21.1 2.4 1.9 18.0 1.01 0.56 0.99 06/30/15 9.8 8.4 117,689 21.9 2.4 2.0 17.7 1.01 0.56 0.99 09/30/15 9.1 8.0 107,992 20.0 2.2 2.2 18.1 1.01 0.59 0.98 12/31/15 7.1 8.1 120,781 21.6 2.3 2.1 18.5 1.01 0.59 0.98 03/31/16 7.0 8.3 122,593 21.7 2.7 2.1 18.7 1.01 0.59 0.99 06/30/16 6.5 8.1 120,727 22.2 2.8 2.1 18.4 1.01 0.61 0.99 09/30/16 6.7 8.1 127,867 23.4 2.4 2.0 18.5 1.00 0.60 0.98 12/31/16 6.1 7.9 131,846 24.7 2.4 2.0 17.9 1.00 0.61 0.98 03/31/17 5.0 7.9 144,960 25.7 2.6 2.0 16.7 1.00 0.66 0.98 06/30/17 5.4 7.7 147,030 24.7 2.6 1.9 16.7 1.01 0.66 0.97 09/30/17 5.8 7.7 156,197 24.7 2.7 1.9 17.2 1.01 0.68 0.98 12/31/17 5.4 7.4 179,035 25.8 2.9 1.8 17.1 1.01 0.66 0.98 03/31/18 6.3 7.0 174,244 25.7 2.7 1.9 17.2 1.02 0.68 0.98 Russell 1000 8.3 7.6 174,105 25.2 2.7 1.9 17.3 1.00 0.96 0.98
Characteristics represent 100% of portfolio's market value. 6 Chatham University Equity Return Analysis Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Net Management Effect Total Equity Sector Stock Quarter Index* Return Return Timing Weighting Selection Trading Total 03/07 1.22 1.20 1.20 -0.00 NA NA NA -0.02 06/07 5.89 6.08 6.08 0.00 NA NA NA 0.19 09/07 1.98 1.99 1.99 -0.00 0.00 -0.04 0.05 0.01 12/07 -3.23 -3.28 -3.28 0.00 -0.00 -0.08 0.02 -0.06 2007 5.77 5.89 5.90 -0.00 NA NA NA 0.12 03/08 -9.50 -9.47 -9.47 -0.00 -0.00 -0.02 0.04 0.02 06/08 -1.90 -1.92 -1.92 0.00 -0.00 0.07 -0.08 -0.02 09/08 -9.35 -9.24 -9.24 0.00 0.00 0.14 -0.03 0.11 12/08 -22.48 -22.59 -22.59 -0.00 -0.00 -0.09 -0.01 -0.11 2008 -37.60 -37.61 -37.61 -0.00 -0.00 0.05 -0.06 -0.01 03/09 -10.45 -10.46 -10.46 0.00 -0.00 -0.02 0.01 -0.01 06/09 16.49 16.56 16.56 -0.00 -0.20 0.02 0.25 0.07 09/09 16.07 16.11 16.11 0.00 -0.00 -0.11 0.16 0.05 12/09 6.07 6.00 6.00 0.00 0.01 0.06 -0.13 -0.07 2009 28.42 28.45 28.45 -0.00 -0.21 -0.05 0.30 0.03 03/10 5.70 5.73 5.73 -0.00 -0.00 -0.04 0.08 0.03 06/10 -11.45 -11.43 -11.43 0.00 0.00 0.05 -0.03 0.02 09/10 11.56 11.52 11.52 -0.00 -0.01 0.11 -0.14 -0.04 12/10 11.20 11.20 11.20 0.00 -0.06 -0.03 0.09 0.00 2010 16.10 16.13 16.13 -0.00 -0.08 0.10 0.00 0.03 03/11 6.24 6.27 6.27 0.00 0.01 0.09 -0.07 0.03 06/11 0.12 0.06 0.06 0.00 0.03 0.01 -0.11 -0.07 09/11 -14.68 -14.71 -14.71 0.00 0.01 -0.05 0.02 -0.03 12/11 11.85 11.79 11.79 -0.00 -0.00 0.02 -0.08 -0.06 Index* : Russell 1000 7 Chatham University Equity Return Analysis Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Net Management Effect Total Equity Sector Stock Quarter Index* Return Return Timing Weighting Selection Trading Total 2011 1.51 1.38 1.38 0.00 0.05 0.05 -0.23 -0.13 03/12 12.90 12.87 12.87 -0.00 -0.03 -0.01 0.01 -0.03 06/12 -3.12 -3.10 -3.10 0.00 -0.00 -0.01 0.03 0.02 09/12 6.31 6.31 6.31 -0.00 -0.01 0.02 -0.02 -0.00 12/12 0.12 0.14 0.14 -0.00 -0.04 -0.00 0.06 0.02 2012 16.42 16.44 16.44 0.00 -0.08 0.00 0.09 0.02 03/13 10.96 10.98 10.98 0.00 0.00 0.02 -0.00 0.02 06/13 2.65 2.66 2.66 0.00 -0.00 -0.00 0.00 0.00 09/13 6.02 6.02 6.02 -0.00 -0.00 -0.02 0.02 -0.00 12/13 10.23 10.32 10.32 0.00 -0.00 -0.01 0.10 0.09 2013 33.11 33.24 33.24 0.00 -0.01 -0.01 0.15 0.13 03/14 2.06 2.00 2.00 -0.00 0.00 0.00 -0.06 -0.06 06/14 5.12 5.11 5.11 0.00 -0.00 0.00 -0.02 -0.01 09/14 0.65 0.75 0.75 0.00 0.00 -0.00 0.10 0.10 12/14 4.88 5.07 4.85 0.21 -0.00 -0.01 -0.02 0.19 2014 13.25 13.48 13.25 0.23 0.00 -0.01 0.00 0.23 03/15 1.59 1.60 1.61 -0.02 -0.00 -0.00 0.02 0.00 06/15 0.11 0.12 0.09 0.03 -0.00 0.00 -0.03 0.01 09/15 -6.83 -6.76 -6.76 -0.00 0.02 0.01 0.04 0.07 12/15 6.50 6.49 6.37 0.13 -0.00 -0.32 0.19 -0.00 2015 0.92 1.00 0.87 0.13 0.02 -0.29 0.23 0.09 03/16 1.17 1.24 0.58 0.66 -0.01 -0.02 -0.57 0.07 06/16 2.54 2.53 2.32 0.21 -0.00 -0.10 -0.11 -0.00 09/16 4.03 4.05 3.50 0.55 -0.06 0.05 -0.52 0.02 Index* : Russell 1000 8 Chatham University Equity Return Analysis Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Net Management Effect Total Equity Sector Stock Quarter Index* Return Return Timing Weighting Selection Trading Total 12/16 3.83 3.84 3.27 0.57 -0.00 0.84 -1.39 0.01 2016 12.05 12.16 10.00 2.16 -0.09 0.83 -2.80 0.10 03/17 6.03 6.04 5.27 0.77 -0.01 -0.01 -0.73 0.02 06/17 3.06 3.08 2.88 0.20 0.00 0.03 -0.21 0.02 09/17 4.48 4.49 4.30 0.19 0.00 -0.02 -0.16 0.01 12/17 6.59 6.59 6.38 0.21 -0.00 0.01 -0.22 0.00 2017 21.69 21.74 20.17 1.57 -0.00 -0.00 -1.51 0.05 03/18 -0.69 -0.69 -0.90 0.21 -0.00 0.01 -0.22 0.00
From Inception 8.07 8.13 7.76 0.36 0.05 From 06/07 To Present 7.77 7.81 7.43 0.38 -0.03 0.05 -0.36 0.04 Avg Up Markets 5.77 5.79 5.68 0.11 0.02 Avg Down Markets -8.52 -8.51 -8.53 0.02 0.00 Index* : Russell 1000 9 Chatham University Equity Sector Attribution Analysis Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Portfolio Russell 1000 Selection Sector Mkt Val % Return Mkt Val % Return Stock Sector Total Information Technology 23.32 3.89 23.33 3.88 0.00 -0.00 0.00 Industrials 10.58 -1.68 10.59 -1.69 0.00 0.00 0.00 Financials 14.90 -0.57 14.91 -0.58 0.00 -0.00 0.00 Consumer Staples 7.69 -6.79 7.70 -6.79 0.00 0.00 0.00 Real Estate 3.61 -5.86 3.62 -5.88 0.00 0.00 0.00 Energy 5.91 -5.78 5.91 -5.79 0.00 0.00 0.00 Utilities 2.93 -3.07 2.93 -3.08 0.00 0.00 0.00 Telecom Services 1.99 -7.36 1.99 -7.37 0.00 -0.00 0.00 Materials 3.38 -5.52 3.37 -5.51 -0.00 -0.00 -0.00 Consumer Discretionary 12.49 2.35 12.50 2.35 -0.00 -0.00 -0.00 Health Care 13.20 -0.94 13.15 -0.93 -0.00 -0.00 -0.00 Quarter Total 100.00 -0.68 100.00 -0.69 0.01 -0.00 0.01
Stock Selection Return Attribution = [ Portfolio Market Value Sector Percent ] x [ Portfolio Sector Return - Index Sector Return]
Sector Selection Return Attribution = [ Portfolio Sector Percent - Index Sector Percent ] x [ Index Sector Return - Index Total Return ]
Trading Effect -0.22% = [ Actual Return -0.90% ] - [ Buy Hold Return -0.68% ]
10 Chatham University Equity Summary Statistics Mellon Lg Cap Stock Index Quarter Ended 3/31/18
10 Largest Holdings 10 Best Performers Name %Port $(000) Name %Port %Return Apple Inc 3.4 264 Xl Group Ltd 0.1 57.79 Microsoft Corp 2.7 212 Abiomed Inc 0.0 55.27 Amazon Com Inc 2.3 181 Netflix Com Inc 0.5 53.86 Berkshire Hathaway I 1.5 119 Validus Holdings Ltd 0.0 44.56 J P Morgan Chase & C 1.5 118 Herbalife Ltd 0.0 43.93 Facebook Inc 1.5 117 Agios Pharmaceutical 0.0 43.05 Johnson & Johnson 1.4 107 Match Group Inc 0.0 41.94 Exxon Mobil Corp 1.3 98 Square Inc 0.0 41.91 Alphabet Inc Cl-C 1.3 97 Csra Inc 0.0 38.59 Alphabet Inc Cl-A 1.2 95 Dst Sys Inc Del 0.0 34.77
Portfolio Characteristic Distribution (%) 10 Worst Performers Quartile Mkt. Cap P/E Yield Name %Port %Return 1st 76.9 26.3 25.7 Colony Northstar Inc 0.0 -49.79 2nd 13.4 31.8 38.0 Weatherford Intl Plc 0.0 -45.08 3rd 6.5 29.8 36.3 Akorn Inc 0.0 -41.95 4th 3.2 12.2 0.0 Universal Display Co 0.0 -41.47 Russell 1000 Macquarie Infrastruc 0.0 -40.33 Patterson Companies 0.0 -38.04 25th Percentile 22,409,393 33.8 2.7 Mallinckrodt Pub Ltd 0.0 -35.82 50th Percentile 10,331,124 21.5 1.4 L Brands Inc 0.0 -35.76 75th Percentile 5,527,764 13.0 0.0 Opko Health Inc 0.0 -35.31 Coherent Inc 0.0 -33.60
11 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy Anadarko Pete Corp 172 169 53.640 60.410 9 10 0.1 0.1 13.10 Andeavor 49 49 114.340 100.560 6 5 0.1 0.1 -11.50 Antero Res Corp 74 68 19.000 19.850 1 1 0.0 0.0 4.47 Apache Corp 121 118 42.220 38.480 5 5 0.1 0.1 -8.36 Baker Hughes A Ge Co 135 131 31.640 27.770 4 4 0.1 0.0 -11.72 Cabot Oil & Gas Corp 145 142 28.600 23.980 4 3 0.1 0.0 -15.98 Centennial Resource 41 51 19.800 18.350 1 1 0.0 0.0 -7.32 Cheniere Energy Inc 65 62 53.840 53.450 3 3 0.0 0.0 -0.72 Chesapeake Energy Co 290 280 3.960 3.020 1 1 0.0 0.0 -23.74 Chevron Corp 597 586 125.190 114.040 75 67 0.9 0.9 -8.00 Cimarex Energy Co 29 28 122.010 93.500 4 3 0.0 0.0 -23.31 Cnx Resources Corpor 71 68 14.630 15.430 1 1 0.0 0.0 5.47 Concho Res Inc 47 46 150.220 150.330 7 7 0.1 0.1 0.07 Conocophillips 378 366 54.890 59.290 21 22 0.3 0.3 8.61 Consol Energy Inc Ne 9 10 39.510 28.970 0 0 0.0 0.0 -26.68 Continental Resource 27 27 52.970 58.950 1 2 0.0 0.0 11.29 Devon Energy Corp 166 163 41.400 31.790 7 5 0.1 0.1 -23.07 Diamondback Energy I 31 30 126.250 126.520 4 4 0.0 0.0 0.21 Energen Corp 31 29 57.570 62.860 2 2 0.0 0.0 9.19 Eog Res Inc 182 179 107.910 105.270 20 19 0.2 0.2 -2.30 Eqt Corp 74 75 56.920 47.510 4 4 0.1 0.0 -16.48 Extraction Oil and G 38 40 14.310 11.460 1 0 0.0 0.0 -19.92
12 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy (cont.) Exxon Mobil Corp 1,340 1,315 83.640 74.610 112 98 1.4 1.3 -9.89 Gulfport Energy Corp 53 49 12.760 9.650 1 0 0.0 0.0 -24.37 Halliburton Co 274 268 48.870 46.940 13 13 0.2 0.2 -3.57 Helmerich & Payne In 34 33 64.640 66.560 2 2 0.0 0.0 4.10 Hess Corp 89 87 47.470 50.620 4 4 0.1 0.1 7.18 Hollyfrontier Corp 55 56 51.220 48.860 3 3 0.0 0.0 -3.90 Kinder Morgan Inc De 606 592 18.070 15.060 11 9 0.1 0.1 -16.09 Kosmos Energy Ltd 76 63 6.850 6.300 1 0 0.0 0.0 -8.03 Laredo Pete Hldgs In 49 50 10.610 8.710 1 0 0.0 0.0 -17.91 Marathon Oil Corp 266 261 16.930 16.130 5 4 0.1 0.1 -4.42 Marathon Pete Corp 153 150 65.980 73.110 10 11 0.1 0.1 11.58 Murphy Oil Corp 53 52 31.050 25.840 2 1 0.0 0.0 -16.00 Nabors Industries Lt 88 91 6.830 6.990 1 1 0.0 0.0 3.19 National-Oilwell Inc 120 119 36.020 36.810 4 4 0.1 0.1 2.33 Newfield Expl Co 64 63 31.530 24.420 2 2 0.0 0.0 -22.55 Noble Energy Inc 152 149 29.140 30.300 4 5 0.1 0.1 4.39 Occidental Pete Corp 241 236 73.660 64.960 18 15 0.2 0.2 -10.73 Oceaneering Intl Inc 31 32 21.140 18.540 1 1 0.0 0.0 -12.30 Oneok Inc New 113 120 53.450 56.920 6 7 0.1 0.1 7.86 Parsley Energy Inc 73 72 29.440 28.990 2 2 0.0 0.0 -1.53 Patterson Uti Energy 65 62 23.010 17.510 1 1 0.0 0.0 -23.82 Pbf Energy Inc 34 35 35.450 33.900 1 1 0.0 0.0 -3.43
13 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy (cont.) Phillips 66 137 131 101.150 95.920 14 13 0.2 0.2 -4.45 Pioneer Nat Res Co 54 52 172.850 171.780 9 9 0.1 0.1 -0.52 Qep Res Inc 76 69 9.570 9.790 1 1 0.0 0.0 2.30 RPC Energy Svcs Inc 17 18 25.530 18.030 0 0 0.0 0.0 -29.00 Range Res Corp 70 73 17.060 14.540 1 1 0.0 0.0 -14.66 Rsp Permian Inc 42 39 40.680 46.880 2 2 0.0 0.0 15.24 Schlumberger Ltd 439 432 67.390 64.780 30 28 0.4 0.4 -3.20 Sm Energy Co 36 35 22.080 18.030 1 1 0.0 0.0 -18.34 Southwestern Energy 162 175 5.580 4.330 1 1 0.0 0.0 -22.40 Targa Res Corp 67 66 48.420 44.000 3 3 0.0 0.0 -7.41 Transocean Ltd Zug 120 124 10.680 9.900 1 1 0.0 0.0 -7.30 Valero Energy Corp N 138 135 91.910 92.770 13 13 0.2 0.2 1.84 Weatherford Intl Plc 275 284 4.170 2.290 1 1 0.0 0.0 -45.08 Whiting Pete Corp Ne 29 27 26.480 33.840 1 1 0.0 0.0 27.79 Williams Cos 261 258 30.490 24.860 8 6 0.1 0.1 -17.44 World Fuel Svcs Corp 21 21 28.140 24.550 1 1 0.0 0.0 -12.54 Wpx Energy Inc 123 122 14.070 14.780 2 2 0.0 0.0 5.05 473 434 5.9 5.6 -5.78 Materials Air Prods & Chems In 67 66 164.080 159.030 11 10 0.1 0.1 -2.41 Albemarle Corp 35 34 127.890 92.740 4 3 0.1 0.0 -27.24 Alcoa Corporation 59 57 53.870 44.960 3 3 0.0 0.0 -16.54
14 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) Aptargroup Inc 19 19 86.280 89.830 2 2 0.0 0.0 4.49 Ardagh Group S A 8 8 21.100 18.680 0 0 0.0 0.0 -10.79 Ashland Global Hldgs 20 20 71.200 69.790 1 1 0.0 0.0 -1.67 Avery Dennison Corp 28 28 114.860 106.250 3 3 0.0 0.0 -7.13 Axalta Coating Sys L 68 65 32.360 30.190 2 2 0.0 0.0 -6.71 Ball Corp 110 106 37.850 39.710 4 4 0.1 0.1 5.18 Bemis Inc 29 28 47.790 43.520 1 1 0.0 0.0 -8.32 Berry Plastics Group 40 40 58.670 54.810 2 2 0.0 0.0 -6.58 Cabot Corp 19 19 61.590 55.720 1 1 0.0 0.0 -9.08 Celanese Corp Del 43 42 107.080 100.210 5 4 0.1 0.1 -6.00 Cf Inds Hldgs Inc 73 71 42.540 37.730 3 3 0.0 0.0 -10.66 Chemours Co 58 57 50.060 48.710 3 3 0.0 0.0 -2.36 Crown Holdings Inc 42 41 56.250 50.750 2 2 0.0 0.0 -9.78 Domtar Corp 19 20 49.520 42.540 1 1 0.0 0.0 -13.22 Dowdupont Inc 737 725 71.220 63.710 52 46 0.7 0.6 -10.07 Eagle Materials Inc 15 14 113.300 103.050 2 1 0.0 0.0 -9.05 Eastman Chem Co 46 44 92.640 105.580 4 5 0.1 0.1 14.56 Ecolab Inc 81 80 134.180 137.070 11 11 0.1 0.1 2.46 F M C Corp 42 42 94.660 76.570 4 3 0.0 0.0 -18.93 Freeport-McMoran Cop 429 421 18.960 17.570 8 7 0.1 0.1 -7.33 Grace W R & Co Del N 21 22 70.130 61.230 1 1 0.0 0.0 -12.37 Graphic Packaging Hl 100 97 15.450 15.350 2 1 0.0 0.0 -0.16
15 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) Huntsman Corp 66 62 33.290 29.250 2 2 0.0 0.0 -11.68 International Flav&F 25 25 152.610 136.910 4 3 0.0 0.0 -9.82 International Paper 130 128 57.940 53.430 8 7 0.1 0.1 -7.03 Lyondellbasell Indus 103 101 110.320 105.680 11 11 0.1 0.1 -3.31 Martin Marietta Matl 20 19 221.040 207.300 4 4 0.1 0.1 -6.01 Monsanto Co New 138 136 116.780 116.690 16 16 0.2 0.2 0.38 Mosaic Co New 111 107 25.660 24.280 3 3 0.0 0.0 -5.29 Newmarket Corp 2 2 397.390 401.680 1 1 0.0 0.0 1.50 Newmont Mng Corp Hld 169 166 37.520 39.070 6 6 0.1 0.1 4.52 Nucor Corp 101 99 63.580 61.090 6 6 0.1 0.1 -3.30 Olin Corp 53 49 35.580 30.390 2 1 0.0 0.0 -14.04 Owens Ill Inc 53 51 22.170 21.660 1 1 0.0 0.0 -2.30 PPG Inds Inc 82 79 116.820 111.600 10 9 0.1 0.1 -4.10 Packaging Corp Amer 30 29 120.550 112.700 4 3 0.0 0.0 -6.01 Platform Specialty P 74 67 9.920 9.630 1 1 0.0 0.0 -2.92 Praxair Inc 90 88 154.680 144.300 14 13 0.2 0.2 -6.21 RPM Inc Ohio 42 42 52.420 47.670 2 2 0.0 0.0 -8.51 Reliance Steel & Alu 23 22 85.790 85.740 2 2 0.0 0.0 0.50 Royal Gold Inc 21 21 82.120 85.870 2 2 0.0 0.0 4.88 Scotts Co 14 14 106.990 85.750 1 1 0.0 0.0 -19.38 Sealed Air Corp New 57 57 49.300 42.790 3 2 0.0 0.0 -12.87 Sherwin Williams Co 26 25 410.040 392.120 11 10 0.1 0.1 -4.16
16 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) Silgan Holdings Inc 24 22 29.390 27.850 1 1 0.0 0.0 -4.91 Sonoco Prods Co 32 29 53.140 48.500 2 1 0.0 0.0 -8.00 Southern Copper Corp 25 26 47.450 54.180 1 1 0.0 0.0 14.91 Steel Dynamics Inc 72 72 43.130 44.220 3 3 0.0 0.0 2.98 Tahoe Res Inc 104 92 4.790 4.690 0 0 0.0 0.0 -2.09 United States Stl Co 55 55 35.190 35.190 2 2 0.0 0.0 0.15 Valvoline Inc 65 59 25.060 22.130 2 1 0.0 0.0 -11.40 Vulcan Matls Co 42 40 128.370 114.170 5 5 0.1 0.1 -10.86 Westlake Chem Corp 11 11 106.530 111.150 1 1 0.0 0.0 4.53 Westrock Co 79 78 63.210 64.170 5 5 0.1 0.1 2.19 271 249 3.4 3.2 -5.52 Industrials 3m Co 183 180 235.370 219.520 43 40 0.5 0.5 -6.19 AGCO Corp 21 21 71.430 64.850 2 1 0.0 0.0 -9.01 Acuity Brands Inc 13 13 176.000 139.190 2 2 0.0 0.0 -20.85 Adt Inc 0 31 NA 7.930 0 0 0.0 0.0 NA Aecom Technology Cor 48 48 37.150 35.630 2 2 0.0 0.0 -4.09 Air Lease Corp 30 29 48.090 42.620 1 1 0.0 0.0 -11.17 Alaska Airgroup 39 36 73.510 61.960 3 2 0.0 0.0 -15.30 Allegion Pub Ltd Co 30 30 79.560 85.290 2 3 0.0 0.0 7.47 Allison Transmission 39 37 43.070 39.060 2 1 0.0 0.0 -8.96 Amerco 2 2 377.910 345.100 1 1 0.0 0.0 -8.55
17 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) American Airls Group 137 134 52.030 51.960 7 7 0.1 0.1 0.07 Ametek Inc New 72 70 72.470 75.970 5 5 0.1 0.1 5.02 Arconic Inc 125 131 27.250 23.040 3 3 0.0 0.0 -15.28 Armstrong World Inds 14 13 60.550 56.300 1 1 0.0 0.0 -7.02 Boeing Co 176 173 294.910 327.880 52 57 0.6 0.7 11.76 Bwx Technologies Inc 29 29 60.490 63.530 2 2 0.0 0.0 5.28 C H Robinson Worldwi 44 43 89.090 93.710 4 4 0.0 0.1 5.73 CSX Corp 268 264 55.010 55.710 15 15 0.2 0.2 1.69 Carlisle Corp 19 19 113.650 104.410 2 2 0.0 0.0 -7.81 Caterpillar Inc 179 176 157.580 147.380 28 26 0.4 0.3 -6.04 Cintas Corp 27 27 155.830 170.580 4 5 0.1 0.1 9.47 Clean Harbors Inc 17 16 54.200 48.810 1 1 0.0 0.0 -9.94 Colfax Corp 28 27 39.620 31.900 1 1 0.0 0.0 -19.49 Copa Holdings Sa 10 10 134.060 128.630 1 1 0.0 0.0 -3.43 Copart Inc 62 61 43.190 50.930 3 3 0.0 0.0 17.92 Costar Group Inc 11 11 296.950 362.680 3 4 0.0 0.1 22.14 Crane Co 16 16 89.220 92.740 1 1 0.0 0.0 4.33 Cummins Engine Inc 50 49 176.640 162.090 9 8 0.1 0.1 -7.64 Deere & Co 100 100 156.510 155.320 16 16 0.2 0.2 -0.37 Delta Air Lines Inc 207 203 56.000 54.810 12 11 0.1 0.1 -1.56 Donaldson Inc 41 40 48.950 45.050 2 2 0.0 0.0 -7.61 Dover Corp 49 48 100.990 98.220 5 5 0.1 0.1 -2.29
18 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Dun & Bradstreet Cor 12 11 118.410 117.000 1 1 0.0 0.0 -0.76 Eaton Corp Plc 141 136 79.010 79.910 11 11 0.1 0.1 1.94 Emerson Elec Co 203 195 69.690 68.300 14 13 0.2 0.2 -1.33 Equifax Inc 37 37 117.920 117.810 4 4 0.1 0.1 0.22 Expeditors Intl Wash 56 55 64.690 63.300 4 3 0.0 0.0 -2.15 Fastenal Co 91 89 54.690 54.590 5 5 0.1 0.1 0.48 Fedex Corp 78 77 249.540 240.110 19 18 0.2 0.2 -3.58 Flowserve Corp 42 41 42.130 43.330 2 2 0.0 0.0 3.77 Fluor Corp 44 44 51.650 57.220 2 3 0.0 0.0 11.19 Fortive Corp 98 95 72.350 77.520 7 7 0.1 0.1 7.24 Fortune Brands Home 48 46 68.440 58.890 3 3 0.0 0.0 -13.68 Gardner Denver Hldgs 20 21 33.930 30.680 1 1 0.0 0.0 -9.58 Gates Industrial Cor 0 8 NA 17.510 0 0 0.0 0.0 NA General Dynamics Cor 82 79 203.450 220.900 17 17 0.2 0.2 9.02 General Elec Co 2,748 2,699 17.450 13.480 48 36 0.6 0.5 -22.11 Genesee & Wyo Inc 19 19 78.730 70.790 1 1 0.0 0.0 -10.09 Graco Inc 53 51 45.220 45.720 2 2 0.0 0.0 1.39 Grainger W W Inc 16 16 236.250 282.270 4 5 0.0 0.1 20.05 Harris Corp Del 38 37 141.650 161.280 5 6 0.1 0.1 14.27 Hd Supply Hldgs Inc 58 57 40.030 37.940 2 2 0.0 0.0 -5.22 Heico Corp New 19 19 79.050 70.950 1 1 0.0 0.0 12.29 Heico Corp New 10 9 94.350 86.810 1 1 0.0 0.0 15.10
19 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Hexcel Corp New 29 27 61.850 64.590 2 2 0.0 0.0 4.63 Honeywell Intl Inc 240 233 153.360 144.510 37 34 0.5 0.4 -5.31 Hubbell Inc 17 17 135.340 121.780 2 2 0.0 0.0 -9.50 Hunt J B Trans Svcs 27 27 114.980 117.150 3 3 0.0 0.0 2.10 Huntington Ingalls I 14 14 235.700 257.760 3 4 0.0 0.0 9.66 Idex Corp 24 23 131.970 142.510 3 3 0.0 0.0 8.28 Ihs Markit Ltd 121 120 45.150 48.240 5 6 0.1 0.1 6.84 Illinois Tool Wks In 96 94 166.850 156.660 16 15 0.2 0.2 -5.63 Ingersoll-Rand Plc 79 77 89.190 85.510 7 7 0.1 0.1 -3.63 Itt Inc 29 28 53.370 48.980 2 1 0.0 0.0 -7.99 Jacobs Engr Group In 37 37 65.960 59.150 2 2 0.0 0.0 -10.11 Jetblue Awys Corp 101 100 22.340 20.320 2 2 0.0 0.0 -9.04 Johnson Ctls Intl Pl 295 287 38.110 35.240 11 10 0.1 0.1 -6.88 Kansas City Southn 33 32 105.220 109.850 3 4 0.0 0.0 4.74 Kar Auction Svcs Inc 42 41 50.510 54.200 2 2 0.0 0.0 7.98 Kirby Expl Co. 17 16 66.800 76.950 1 1 0.0 0.0 15.19 L3 Technologies Inc 25 24 197.850 208.000 5 5 0.1 0.1 5.54 Landstar Sys Inc 13 13 104.100 109.650 1 1 0.0 0.0 6.94 Lennox Intl Inc 12 12 208.260 204.370 2 2 0.0 0.0 -1.62 Lincoln Elec Hldgs I 19 18 91.580 89.950 2 2 0.0 0.0 -1.35 Lockheed Martin Corp 79 77 321.050 337.930 25 26 0.3 0.3 5.86 Macquarie Infrastruc 25 25 64.200 36.930 2 1 0.0 0.0 -40.33
20 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Manpower Inc 21 21 126.110 115.100 3 2 0.0 0.0 -8.73 Masco Corp 98 97 43.940 40.440 4 4 0.1 0.1 -7.75 Middleby Corp 17 17 134.950 123.790 2 2 0.0 0.0 -8.27 Msc Indl Direct Inc 13 14 96.660 91.710 1 1 0.0 0.0 -4.54 Nielsen Hldgs Plc 113 112 36.400 31.790 4 4 0.1 0.0 -11.77 Nordson Corp 18 18 146.400 136.340 3 2 0.0 0.0 -6.67 Norfolk Southern Cor 91 87 144.900 135.780 13 12 0.2 0.2 -5.84 Northrop Corp 51 50 306.910 349.120 16 17 0.2 0.2 14.12 Old Dominion Fght Li 19 19 131.550 146.970 2 3 0.0 0.0 11.83 Orbital Atk Inc 18 18 131.500 132.610 2 2 0.0 0.0 1.09 Oshkosh Truck Corp 23 23 90.890 77.270 2 2 0.0 0.0 -14.75 Owens Corning New 35 34 91.940 80.400 3 3 0.0 0.0 -12.33 Paccar Inc 109 105 71.080 66.170 8 7 0.1 0.1 -6.57 Parker Hannifin Corp 42 41 199.580 171.030 8 7 0.1 0.1 -13.98 Pentair Plc 52 51 70.620 68.130 4 3 0.0 0.0 -3.07 Pitney Bowes Inc 59 55 11.180 10.890 1 1 0.0 0.0 -1.11 Quanta Svcs Inc 46 45 39.110 34.350 2 2 0.0 0.0 -12.17 Raytheon Co 92 90 187.850 215.820 17 19 0.2 0.3 15.38 Regal Beloit Corp 14 13 76.600 73.350 1 1 0.0 0.0 -3.89 Republic Svcs Inc 73 70 67.610 66.230 5 5 0.1 0.1 -1.53 Robert Half Intl Inc 39 37 55.540 57.890 2 2 0.0 0.0 4.74 Rockwell Automation 41 40 196.350 174.200 8 7 0.1 0.1 -10.88
21 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Rockwell Collins Inc 51 50 135.620 134.850 7 7 0.1 0.1 -0.32 Rollins Inc 30 29 46.530 51.030 1 1 0.0 0.0 10.01 Roper Inds Inc New 32 31 259.000 280.690 8 9 0.1 0.1 8.54 Ryder Sys Inc 17 16 84.170 72.790 1 1 0.0 0.0 -12.93 Sensata Technologies 0 52 51.110 51.830 0 3 0.0 0.0 NA Sensata Technologies 54 0 51.110 51.830 3 0 0.0 0.0 1.41 Smith A O Corp 'b' 45 44 61.280 63.590 3 3 0.0 0.0 4.05 Snap On Tools Corp 18 18 174.300 147.540 3 3 0.0 0.0 -14.90 Southwest Airls Co 174 169 65.450 57.280 11 10 0.1 0.1 -12.30 Spirit Aerosystems H 36 36 87.250 83.700 3 3 0.0 0.0 -3.96 Spirit Airls Inc 22 21 44.850 37.780 1 1 0.0 0.0 -15.76 Stanley Black & Deck 48 48 169.690 153.200 8 7 0.1 0.1 -9.36 Stericycle Inc 26 26 67.990 58.530 2 2 0.0 0.0 -13.91 Teledyne Technologie 11 11 181.150 187.170 2 2 0.0 0.0 3.32 Terex Corp New 24 25 48.220 37.410 1 1 0.0 0.0 -22.22 Textron Inc 84 82 56.590 58.970 5 5 0.1 0.1 4.24 Timken Co 22 21 49.150 45.600 1 1 0.0 0.0 -6.67 Toro Co 34 33 65.230 62.450 2 2 0.0 0.0 -4.26 Transdigm Group Inc 15 15 274.620 306.940 4 5 0.1 0.1 11.77 Transunion 49 56 54.960 56.780 3 3 0.0 0.0 3.31 Trinity Inds Inc 48 47 37.460 32.630 2 2 0.0 0.0 -12.59 U S G Corp 28 27 38.560 40.420 1 1 0.0 0.0 4.82
22 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Union Pac Corp 249 244 134.100 134.430 33 33 0.4 0.4 0.79 United Contl Hldgs I 85 82 67.400 69.470 6 6 0.1 0.1 3.07 United Parcel Servic 218 214 119.150 104.660 26 22 0.3 0.3 -11.41 United Rentals Inc 27 26 171.910 172.730 5 4 0.1 0.1 0.48 United States Treas 0 965 NA NA 0 0 0.0 0.0 NA United Technologies 236 232 127.570 125.820 30 29 0.4 0.4 -0.84 Univar Inc 34 35 30.960 27.750 1 1 0.0 0.0 -10.37 Valmont Inds Inc 7 7 165.850 146.300 1 1 0.0 0.0 -11.56 Verisk Analytics Inc 48 47 96.000 104.000 5 5 0.1 0.1 8.33 Wabco Hldgs Inc 16 15 143.500 133.870 2 2 0.0 0.0 -6.71 Wabtec Corp 27 26 81.430 81.400 2 2 0.0 0.0 0.13 Waste Mgmt Inc Del 138 134 86.300 84.120 12 11 0.1 0.1 -1.99 Watsco Inc 10 9 170.040 180.970 2 2 0.0 0.0 7.19 Welbilt Inc 42 38 23.510 19.450 1 1 0.0 0.0 -17.27 Wesco Intl Inc 14 15 68.150 62.050 1 1 0.0 0.0 -8.95 Xpo Logistics Inc 38 37 91.590 101.810 3 4 0.0 0.0 11.16 Xylem Inc 58 54 68.200 76.920 4 4 0.0 0.1 13.11 852 816 10.6 10.5 -1.68 Consumer Discretionary Adient Plc 30 30 78.700 59.760 2 2 0.0 0.0 -23.80 Advance Auto Parts 23 21 99.690 118.550 2 2 0.0 0.0 18.98 Amazon Com Inc 126 125 1169.470 1447.340 147 181 1.8 2.3 23.76
23 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Amc Networks Inc 15 15 54.080 51.700 1 1 0.0 0.0 -4.40 Aptiv Plc 85 83 84.830 84.970 7 7 0.1 0.1 0.40 Aramark Hldgs Corp 77 74 42.740 39.560 3 3 0.0 0.0 -7.20 Autonation Inc 19 18 51.330 46.780 1 1 0.0 0.0 -8.86 Autozone Inc 9 8 711.370 648.690 6 5 0.1 0.1 -8.81 Bed Bath & Beyond In 42 43 21.990 20.990 1 1 0.0 0.0 -3.89 Best Buy Inc 81 78 68.470 69.990 6 5 0.1 0.1 2.89 Block H & R Inc 66 61 26.220 25.410 2 2 0.0 0.0 -2.25 Booking Hldgs Inc 0 15 1737.740 2080.390 0 31 0.0 0.4 NA Borg-Warner Automoti 66 66 51.090 50.230 3 3 0.0 0.0 -1.34 Bright Horizons Fam 17 18 94.000 99.720 2 2 0.0 0.0 6.09 Brunswick Corp 29 27 55.220 59.390 2 2 0.0 0.0 7.90 Burlington Stores In 21 21 123.030 133.150 3 3 0.0 0.0 8.23 Cable One Inc 1 1 703.350 687.110 1 1 0.0 0.0 -2.06 Calatlantic Group In 26 0 56.390 NA 1 0 0.0 0.0 NA Carmax Inc 57 55 64.130 61.940 4 3 0.0 0.0 -3.41 Carnival Corp 129 125 66.370 65.580 9 8 0.1 0.1 -0.54 Carter Hldgs Inc 14 14 117.490 104.100 2 1 0.0 0.0 -11.05 Cbs Corp 106 103 59.000 51.390 6 5 0.1 0.1 -12.60 Charter Communicatio 58 55 335.960 311.220 19 17 0.2 0.2 -7.36 Chipotle Mexican Gri 8 8 289.030 323.110 2 3 0.0 0.0 11.79 Choice Hotels Intl I 11 10 77.600 80.150 1 1 0.0 0.0 3.56
24 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Cinemark Holdings In 33 34 34.820 37.670 1 1 0.0 0.0 9.02 Comcast Corp New 1,466 1,439 40.050 34.170 59 49 0.7 0.6 -14.35 D R Horton Inc 107 106 51.070 43.840 5 5 0.1 0.1 -13.91 Darden Restaurants I 39 38 96.020 85.250 4 3 0.0 0.0 -10.64 Delphi Technologies 29 28 52.470 47.650 2 1 0.0 0.0 -8.89 Dicks Sporting Goods 28 26 28.740 35.050 1 1 0.0 0.0 22.83 Discovery Communicat 47 48 22.380 21.430 1 1 0.0 0.0 -4.24 Discovery Communicat 66 93 21.170 19.520 1 2 0.0 0.0 -7.79 Dish Network Corp 70 68 47.750 37.890 3 3 0.0 0.0 -20.65 Disney Walt Prodtns 487 465 107.510 100.440 52 47 0.7 0.6 -6.58 Dollar Gen Corp New 87 84 93.010 93.550 8 8 0.1 0.1 0.86 Dollar Tree Inc 73 72 107.310 94.900 8 7 0.1 0.1 -11.56 Dominos Pizza Inc 14 14 188.960 233.560 3 3 0.0 0.0 23.90 Dunkin Brands Group 29 28 64.470 59.690 2 2 0.0 0.0 -6.88 Expedia Inc Del 39 38 119.770 110.410 5 4 0.1 0.1 -7.57 Extended Stay Amer I 63 57 19.000 19.770 1 1 0.0 0.0 5.15 Floor & Decor Hldgs 6 10 48.680 52.120 0 1 0.0 0.0 7.07 Foot Locker Inc 39 39 46.880 45.540 2 2 0.0 0.0 -2.24 Ford Mtr Co Del 1,228 1,204 12.490 11.080 15 13 0.2 0.2 -9.06 Gamestop Corp New 33 29 17.950 12.620 1 0 0.0 0.0 -28.02 Gap Inc 76 75 34.060 31.200 3 2 0.0 0.0 -7.77 Garmin Ltd 38 37 59.570 58.930 2 2 0.0 0.0 -0.24
25 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Gci Liberty Inc 0 30 54.240 52.860 0 2 0.0 0.0 NA General Motors Corp. 407 404 40.990 36.340 17 15 0.2 0.2 -10.45 Gentex Corp 89 85 20.950 23.020 2 2 0.0 0.0 10.39 Genuine Parts Co 46 45 95.010 89.840 4 4 0.1 0.1 -4.69 Goodyear Tire & Rubr 78 76 32.310 26.580 3 2 0.0 0.0 -17.40 Graham Hldgs Co 1 1 558.350 602.250 1 1 0.0 0.0 8.11 Hanesbrands Inc 113 111 20.910 18.420 2 2 0.0 0.0 -11.26 Harley Davidson Inc 54 52 50.880 42.880 3 2 0.0 0.0 -15.06 Hasbro Bradley Inc 36 35 90.890 84.300 3 3 0.0 0.0 -6.69 Hilton Grand Vacatio 23 29 41.950 43.020 1 1 0.0 0.0 2.55 Hilton Worldwide Hld 69 66 79.860 78.760 6 5 0.1 0.1 -1.19 Home Depot Inc 373 366 189.530 178.240 71 65 0.9 0.8 -5.41 Hyatt Hotels Corp 14 14 73.540 76.260 1 1 0.0 0.0 3.89 International Game T 36 34 26.510 26.730 1 1 0.0 0.0 1.53 Interpublic Group Co 122 117 20.160 23.030 2 3 0.0 0.0 15.26 Kohls Corp 53 51 54.230 65.510 3 3 0.0 0.0 21.95 L Brands Inc 75 76 60.220 38.210 5 3 0.1 0.0 -35.76 Las Vegas Sands Corp 115 111 69.490 71.900 8 8 0.1 0.1 4.53 Lear Corp 22 21 176.660 186.090 4 4 0.0 0.1 5.73 Leggett & Platt Inc 42 41 47.730 44.360 2 2 0.0 0.0 -6.35 Lennar Corp 5 5 51.680 47.690 0 0 0.0 0.0 -7.65 Lennar Corp- Cl A 62 79 63.240 58.940 4 5 0.0 0.1 -6.75
26 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Liberty Broadband Co 8 8 85.050 84.800 1 1 0.0 0.0 -0.29 Liberty Broadband Co 33 33 85.160 85.690 3 3 0.0 0.0 0.62 Liberty Expedia Hold 18 18 44.330 39.280 1 1 0.0 0.0 -11.39 Liberty Interactive 140 137 24.420 25.170 3 3 0.0 0.0 3.07 Liberty Interactive 25 0 54.240 52.860 1 0 0.0 0.0 -2.54 Liberty Media Corp D 58 58 34.160 30.850 2 2 0.0 0.0 -9.69 Liberty Media Corp D 8 8 32.720 29.290 0 0 0.0 0.0 -10.48 Liberty Siriusxm Grp 56 55 39.660 40.850 2 2 0.0 0.0 3.00 Liberty Siriusxm Grp 28 27 39.660 41.100 1 1 0.0 0.0 3.63 Lions Gate Entmnt Co 31 32 31.740 24.080 1 1 0.0 0.0 -23.85 Lions Gate Entmnt Co 15 16 33.810 25.830 1 0 0.0 0.0 -23.34 Live Nation Inc 43 41 42.570 42.140 2 2 0.0 0.0 -1.01 Lkq Corp 95 94 40.670 37.950 4 4 0.0 0.0 -6.69 Lowes Cos Inc 263 259 92.940 87.750 24 23 0.3 0.3 -5.22 Lululemon Athletica 30 29 78.590 89.120 2 3 0.0 0.0 13.40 MGM Grand Inc 156 155 33.390 35.020 5 5 0.1 0.1 5.23 Macys Inc. 95 95 25.190 29.740 2 3 0.0 0.0 19.59 Madison Square Garde 6 6 210.850 245.800 1 1 0.0 0.0 16.58 Marriott Intl Inc Ne 96 95 135.730 135.980 13 13 0.2 0.2 0.42 Mattel Inc 105 109 15.380 13.150 2 1 0.0 0.0 -14.50 McDonalds Corp 252 248 172.120 156.380 43 39 0.5 0.5 -8.56 Michael Kors Hldgs L 44 44 62.950 62.080 3 3 0.0 0.0 -1.38
27 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Michaels Cos Inc 36 37 24.190 19.710 1 1 0.0 0.0 -18.52 Mohawk Inds Inc 20 19 275.900 232.220 6 4 0.1 0.1 -15.83 Murphy Usa Inc 11 10 80.360 72.800 1 1 0.0 0.0 -9.41 Netflix Com Inc 129 127 191.960 295.350 25 38 0.3 0.5 53.86 Newell Rubbermaid In 155 150 30.900 25.480 5 4 0.1 0.0 -16.84 News Corp New 119 118 16.210 15.800 2 2 0.0 0.0 -1.93 News Corp New 38 39 16.600 16.100 1 1 0.0 0.0 -2.43 Nike Inc 411 403 62.550 66.440 26 27 0.3 0.3 6.54 Nordstrom Inc 37 37 47.380 48.410 2 2 0.0 0.0 2.89 Norwegian Cruise Lin 58 63 53.250 52.970 3 3 0.0 0.0 -0.53 Nvr Inc 1 1 3508.220 2800.000 4 3 0.0 0.0 -20.19 O Reilly Automotive 26 26 240.540 247.380 6 6 0.1 0.1 2.84 Omnicom Group 73 71 72.830 72.670 5 5 0.1 0.1 0.59 Penske Automotive Gr 12 11 47.850 44.330 1 0 0.0 0.0 -6.71 Polaris Inds Inc 19 19 123.990 114.520 2 2 0.0 0.0 -7.15 Pool Corporation 12 12 129.650 146.220 2 2 0.0 0.0 13.07 Priceline Group Inc 15 0 1737.740 2080.390 26 0 0.3 0.0 19.72 Pulte Homes Corp 86 82 33.250 29.490 3 2 0.0 0.0 -11.03 Pvh Corp 24 24 137.210 151.430 3 4 0.0 0.0 10.39 Ralph Lauren Corp 17 17 103.690 111.800 2 2 0.0 0.0 8.31 Regal Entmt Group 38 0 23.010 NA 1 0 0.0 0.0 NA Ross Stores Inc 119 116 80.250 77.980 10 9 0.1 0.1 -2.54
28 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Royal Caribbean Crui 54 53 119.280 117.740 6 6 0.1 0.1 -0.81 Sally Beauty Hldgs I 42 37 18.760 16.450 1 1 0.0 0.0 -12.31 Scripps Networks Int 27 0 85.380 90.040 2 0 0.0 0.0 5.81 Service Corp Intl 58 54 37.320 37.740 2 2 0.0 0.0 1.57 Servicemaster Global 43 43 51.270 50.850 2 2 0.0 0.0 -0.82 Signet Jewelers Limi 17 19 56.550 38.520 1 1 0.0 0.0 -31.48 Sirius Xm Hldgs Inc 454 437 5.360 6.240 2 3 0.0 0.0 16.63 Six Flags Entmt Corp 20 21 66.570 62.260 1 1 0.0 0.0 -5.41 Skechers U S A Inc 42 39 37.840 38.890 2 2 0.0 0.0 2.77 Starbucks Corp 445 425 57.430 57.890 26 25 0.3 0.3 1.36 TJX Cos Inc New 201 197 76.460 81.560 15 16 0.2 0.2 7.11 Tapestry Inc 90 89 44.230 52.610 4 5 0.0 0.1 19.72 Target Corp 174 168 65.250 69.430 11 12 0.1 0.2 7.31 Tegna Inc 67 69 14.080 11.390 1 1 0.0 0.0 -18.66 Tempur Pedic Intl In 15 15 62.690 45.290 1 1 0.0 0.0 -27.76 Tesla Mtrs Inc 42 41 311.350 266.130 13 11 0.2 0.1 -14.52 Thor Inds Inc 16 15 150.720 115.170 2 2 0.0 0.0 -23.34 Tiffany & Co New 34 34 103.950 97.660 4 3 0.0 0.0 -5.57 Time Warner Inc 245 241 91.470 94.580 22 23 0.3 0.3 3.85 Toll Brothers Inc 47 46 48.020 43.250 2 2 0.0 0.0 -9.79 Tractor Supply Co 40 38 74.750 63.020 3 2 0.0 0.0 -15.35 Tribune Co New 26 25 42.470 40.510 1 1 0.0 0.0 -4.04
29 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Tripadvisor Inc 34 33 34.460 40.890 1 1 0.0 0.0 18.66 Tupperware Corp 17 16 62.700 48.380 1 1 0.0 0.0 -21.74 Twenty First Centy F 328 324 34.530 36.690 11 12 0.1 0.2 6.77 Twenty First Centy F 138 135 34.120 36.370 5 5 0.1 0.1 7.12 Ulta Salon Cosmetcs 18 18 223.660 204.270 4 4 0.1 0.0 -8.67 Under Armour Inc 60 55 13.320 14.350 1 1 0.0 0.0 7.73 Under Armour Inc 59 55 14.430 16.350 1 1 0.0 0.0 13.31 Urban Outfitters Inc 25 25 35.060 36.960 1 1 0.0 0.0 5.42 V F Corp 102 100 74.000 74.120 8 7 0.1 0.1 0.80 Vail Resorts Inc 12 12 212.470 221.700 3 3 0.0 0.0 5.02 Viacom Inc New -A 3 3 34.900 39.600 0 0 0.0 0.0 14.05 Viacom Inc New -B 110 108 30.810 31.060 3 3 0.0 0.0 1.43 Visteon Corp 10 10 125.140 110.240 1 1 0.0 0.0 -11.91 Wayfair Inc 13 12 80.270 67.530 1 1 0.0 0.0 -15.87 Wendys Co 60 57 16.420 17.550 1 1 0.0 0.0 7.45 Whirlpool Corp 22 22 168.640 153.110 4 3 0.0 0.0 -8.59 Wiley John & Sons In 14 14 65.750 63.700 1 1 0.0 0.0 -3.12 Williams Sonoma Inc 26 25 51.700 52.760 1 1 0.0 0.0 2.79 Wyndham Worldwide Co 31 31 115.870 114.430 4 4 0.0 0.0 -0.68 Wynn Resorts Ltd 25 25 168.590 182.360 4 5 0.1 0.1 8.50 Yum Brands Inc 107 104 81.610 85.130 9 9 0.1 0.1 4.80 Yum China Hldgs Inc 116 113 40.020 41.500 5 5 0.1 0.1 3.94
30 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) 1,000 998 12.5 12.9 2.35 Consumer Staples Altria Group Inc 603 592 71.410 62.320 43 37 0.5 0.5 -11.77 Archer Daniels Midla 175 169 40.080 43.370 7 7 0.1 0.1 9.05 Blue Buffalo Pet Pro 31 29 32.790 39.810 1 1 0.0 0.0 21.41 Brown Forman Dst 'a' 18 19 67.240 53.330 1 1 0.0 0.0 1.84 Brown Forman Dst 'b' 70 73 68.670 54.400 5 4 0.1 0.1 1.13 Bunge Limited 44 44 67.080 73.940 3 3 0.0 0.0 10.88 Campbell Soup Co 57 55 48.110 43.310 3 2 0.0 0.0 -9.31 Caseys Gen Stores 12 11 111.940 109.770 1 1 0.0 0.0 -1.73 Church & Dwight Inc 78 77 50.170 50.360 4 4 0.0 0.1 0.83 Clorox Co 41 40 148.740 133.110 6 5 0.1 0.1 -9.98 Coca Cola Co 1,213 1,191 45.880 43.430 56 52 0.7 0.7 -4.50 Colgate Palmolive Co 272 268 75.450 71.680 21 19 0.3 0.2 -4.51 Conagra Brands Inc 122 117 37.670 36.880 5 4 0.1 0.1 -1.55 Constellation Brands 51 50 228.570 227.920 12 11 0.1 0.1 -0.04 Costco Whsl Corp New 138 135 186.120 188.430 26 25 0.3 0.3 1.51 Coty Inc 149 145 19.890 18.300 3 3 0.0 0.0 -7.41 Cvs Corp 321 316 72.500 62.210 23 20 0.3 0.3 -13.66 Dr Pepper Snapple Gr 57 55 97.060 118.380 6 7 0.1 0.1 22.56 Edgewell Pers Care C 18 17 59.390 48.820 1 1 0.0 0.0 -17.80 Energizer Hldgs Inc 18 19 47.980 59.580 1 1 0.0 0.0 24.85
31 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Staples (cont.) Estee Lauder Co. Inc 69 68 127.240 149.720 9 10 0.1 0.1 17.99 Flowers Foods Inc 57 55 19.310 21.860 1 1 0.0 0.0 14.15 General Mls Inc 180 177 59.290 45.060 11 8 0.1 0.1 -23.37 Hain Celestial Group 32 31 42.390 32.070 1 1 0.0 0.0 -24.35 Herbalife Ltd 20 19 67.720 97.470 1 2 0.0 0.0 43.93 Hershey Foods Corp 44 42 113.510 98.960 5 4 0.1 0.1 -12.23 Hormel Geo A & Co 84 85 36.390 34.320 3 3 0.0 0.0 -5.17 Ingredion Inc 22 22 139.800 128.920 3 3 0.0 0.0 -7.35 Kellogg Co 77 76 67.980 65.010 5 5 0.1 0.1 -3.61 Kimberly Clark Corp 111 109 120.660 110.130 13 12 0.2 0.2 -7.91 Kraft Heinz Co 189 186 77.760 62.290 15 12 0.2 0.1 -19.15 Kroger Co 280 272 27.450 23.940 8 7 0.1 0.1 -12.40 Lamb Weston Hldgs In 46 45 56.450 58.220 3 3 0.0 0.0 3.48 McCormick & Co Inc 38 37 101.910 106.390 4 4 0.0 0.1 4.40 Molson Coors Brewing 55 53 82.070 75.330 5 4 0.1 0.1 -7.73 Mondelez Intl Inc 463 446 42.800 41.730 20 19 0.2 0.2 -1.97 Monster Beverage Cor 131 127 63.290 57.210 8 7 0.1 0.1 -9.61 Nu Skin Enterprises 17 15 68.230 73.710 1 1 0.0 0.0 8.58 Pepsico Inc 451 444 119.920 109.150 54 48 0.7 0.6 -8.30 Philip Morris Intl I 490 482 105.650 99.400 52 48 0.6 0.6 -4.89 Pilgrims Pride Corp 15 16 31.060 24.610 0 0 0.0 0.0 -20.77 Pinnacle Foods Inc D 37 37 59.470 54.100 2 2 0.0 0.0 -8.50
32 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Staples (cont.) Post Hldgs Inc 21 19 79.230 75.760 2 1 0.0 0.0 -4.38 Procter & Gamble Co 809 782 91.880 79.280 74 62 0.9 0.8 -13.05 Rite Aid Corp 333 344 1.970 1.680 1 1 0.0 0.0 -14.72 Smucker J M Co 35 34 124.240 124.010 4 4 0.1 0.1 0.47 Spectrum Brands Hldg 8 7 112.400 103.700 1 1 0.0 0.0 -7.36 Sprouts Fmrs Mkt Inc 40 41 24.350 23.470 1 1 0.0 0.0 -3.61 Sysco Corp 153 148 60.730 59.960 9 9 0.1 0.1 -0.68 Treehouse Foods Inc 19 18 49.460 38.270 1 1 0.0 0.0 -22.62 Tyson Foods Inc 88 86 81.070 73.190 7 6 0.1 0.1 -9.36 US Foods Hldg Corp 64 63 31.930 32.770 2 2 0.0 0.0 2.63 Wal Mart Stores Inc 453 446 98.750 88.970 45 40 0.6 0.5 -9.37 Walgreens Boots Alli 276 264 72.620 65.470 20 17 0.3 0.2 -9.32 617 558 7.7 7.2 -6.79 Health Care Abbott Labs 534 525 57.070 59.920 30 31 0.4 0.4 5.49 Abbvie Inc 503 494 96.710 94.650 49 47 0.6 0.6 -1.43 Abiomed Inc 13 13 187.410 290.990 2 4 0.0 0.0 55.27 Acadia Healthcare Co 24 25 32.630 39.180 1 1 0.0 0.0 20.07 Acadia Pharmaceutica 32 30 30.110 22.470 1 1 0.0 0.0 -25.37 Aetna Inc 101 99 180.390 169.000 18 17 0.2 0.2 -6.06 Agilent Technologies 102 100 66.970 66.900 7 7 0.1 0.1 -0.10 Agios Pharmaceutical 14 16 57.170 81.780 1 1 0.0 0.0 43.05
33 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Akorn Inc 29 27 32.230 18.710 1 1 0.0 0.0 -41.95 Alexion Pharmaceutic 69 67 119.590 111.460 8 7 0.1 0.1 -6.80 Align Technology Inc 25 25 222.190 251.130 6 6 0.1 0.1 13.02 Alkermes Plc 47 47 54.730 57.960 3 3 0.0 0.0 5.90 Allergan Plc 106 104 163.580 168.290 17 18 0.2 0.2 3.34 Alnylam Pharmaceutic 27 27 127.050 119.100 3 3 0.0 0.0 -6.26 Amerisourcebergen Co 50 49 91.820 86.210 5 4 0.1 0.1 -5.75 Amgen 232 223 173.900 170.480 40 38 0.5 0.5 -1.25 Anthem Inc 81 79 225.010 219.700 18 17 0.2 0.2 -2.04 Athenahealth Inc 13 12 133.040 143.030 2 2 0.0 0.0 7.51 Bard C R Inc 23 0 331.240 NA 8 0 0.1 0.0 NA Baxter Intl Inc 158 153 64.640 65.040 10 10 0.1 0.1 0.86 Becton Dickinson 70 82 214.060 216.700 15 18 0.2 0.2 1.57 Bio Rad Labs Inc 7 7 238.670 250.080 2 2 0.0 0.0 4.78 Bio Techne Corp 11 11 129.550 151.040 1 2 0.0 0.0 16.85 Biogen Idec Inc 67 66 318.570 273.820 21 18 0.3 0.2 -14.05 Biomarin Pharmaceuti 55 53 89.170 81.070 5 4 0.1 0.1 -9.08 Bioverativ Inc 34 0 53.920 104.980 2 0 0.0 0.0 94.70 Boston Scientific Co 431 425 24.790 27.320 11 12 0.1 0.1 10.21 Bristol Myers Squibb 520 512 61.280 63.250 32 32 0.4 0.4 3.88 Brookdale Sr Living 61 54 9.700 6.710 1 0 0.0 0.0 -30.82 Bruker Biosciences C 33 31 34.320 29.920 1 1 0.0 0.0 -12.70
34 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Cardinal Health Inc 100 98 61.270 62.680 6 6 0.1 0.1 3.06 Celgene Corp 245 232 104.360 89.210 26 21 0.3 0.3 -14.52 Centene Corp Del 54 53 100.880 106.870 5 6 0.1 0.1 5.94 Cerner Corp 91 89 67.390 58.000 6 5 0.1 0.1 -13.93 Charles Riv Labs Int 15 14 109.450 106.740 2 1 0.0 0.0 -2.48 Cigna Corp 75 73 203.090 167.740 15 12 0.2 0.2 -17.39 Cooper Cos Inc 15 15 217.880 228.810 3 3 0.0 0.0 5.03 Danaher Corp 193 190 92.820 97.910 18 19 0.2 0.2 5.66 Davita Inc 49 45 72.250 65.940 4 3 0.0 0.0 -8.73 Dentsply Sirona Inc 71 69 65.830 50.310 5 3 0.1 0.0 -23.44 Dexcom Inc 26 27 57.390 74.160 1 2 0.0 0.0 29.22 Edwards Lifesciences 66 65 112.710 139.520 7 9 0.1 0.1 23.79 Eli Lilly & Co 308 303 84.460 77.370 26 23 0.3 0.3 -7.73 Endo Intl Plc 70 73 7.750 5.940 1 0 0.0 0.0 -23.35 Envision Healthcare 38 37 34.560 38.430 1 1 0.0 0.0 11.20 Exelixis Inc 90 90 30.400 22.150 3 2 0.0 0.0 -27.14 Express Scripts Hldg 180 175 74.640 69.080 13 12 0.2 0.2 -7.45 Gilead Sciences Inc 411 403 71.640 75.390 29 30 0.4 0.4 5.99 Hca Holdings Inc 90 87 87.840 97.000 8 8 0.1 0.1 10.82 Hill Rom Hldgs Inc 21 20 84.290 87.000 2 2 0.0 0.0 3.46 Hologic Inc 88 84 42.750 37.360 4 3 0.0 0.0 -12.61 Humana Inc 45 43 248.070 268.830 11 12 0.1 0.1 8.57
35 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Idexx Labs Inc 27 27 156.380 191.390 4 5 0.1 0.1 22.39 Illumina Inc 46 45 218.490 236.420 10 11 0.1 0.1 8.21 Incyte Pharmaceutica 55 53 94.710 83.330 5 4 0.1 0.1 -12.02 Intercept Pharmaceut 5 5 58.420 61.520 0 0 0.0 0.0 5.31 Intrexon Corp 19 20 11.520 15.330 0 0 0.0 0.0 33.07 Intuitive Surgical I 35 34 364.940 412.830 13 14 0.2 0.2 13.12 Ionis Pharmaceutical 39 39 50.300 44.080 2 2 0.0 0.0 -12.37 Iqvia Hldgs Inc 48 49 97.900 98.110 5 5 0.1 0.1 0.21 Johnson & Johnson 852 837 139.720 128.150 119 107 1.5 1.4 -7.70 Juno Therapeutics In 20 0 45.710 0.010 1 0 0.0 0.0 89.83 Laboratory Corp Amer 32 32 159.510 161.750 5 5 0.1 0.1 1.40 Lifepoint Hospitals 13 11 49.800 47.000 1 1 0.0 0.0 -5.62 Mallinckrodt Pub Ltd 29 30 22.560 14.480 1 0 0.0 0.0 -35.82 McKesson Hboc Inc 67 64 155.950 140.870 10 9 0.1 0.1 -9.46 Mednax Inc 29 28 53.440 55.630 2 2 0.0 0.0 4.10 Medtronic Plc 428 421 80.750 80.220 35 34 0.4 0.4 -0.07 Merck & Co Inc New 864 850 56.270 54.470 49 46 0.6 0.6 -2.35 Mettler Toledo Inter 8 8 619.520 575.030 5 5 0.1 0.1 -7.18 Mylan N V 169 166 42.310 41.170 7 7 0.1 0.1 -2.69 Neurocrine Bioscienc 28 27 77.590 82.930 2 2 0.0 0.0 6.88 Opko Health Inc 112 116 4.900 3.170 1 0 0.0 0.0 -35.31 Patterson Companies 25 26 36.130 22.230 1 1 0.0 0.0 -38.04
36 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Perkinelmer Inc 35 34 73.120 75.720 3 3 0.0 0.0 3.65 Perrigo Co Pcl 42 41 87.160 83.340 4 3 0.0 0.0 -4.15 Pfizer Inc 1,869 1,835 36.220 35.490 68 65 0.8 0.8 -1.11 Premier Inc 18 18 29.190 31.310 1 1 0.0 0.0 7.26 Qiagen Nv 71 70 30.930 32.310 2 2 0.0 0.0 4.46 Quest Diagnostics In 43 43 98.490 100.300 4 4 0.1 0.1 2.30 Regeneron Pharmaceut 25 24 375.960 344.360 9 8 0.1 0.1 -8.41 Resmed Inc 44 42 84.690 98.470 4 4 0.0 0.1 16.71 Schein Henry Inc 49 47 69.880 67.210 3 3 0.0 0.0 -3.82 Seattle Genetics Inc 30 33 53.500 52.340 2 2 0.0 0.0 -2.17 Steris Plc 27 26 87.470 93.360 2 2 0.0 0.0 7.09 Stryker Corp 107 106 154.840 160.920 17 17 0.2 0.2 4.24 Teleflex Inc 14 14 248.820 254.980 3 4 0.0 0.0 2.62 Tesaro Inc 12 11 82.870 57.140 1 1 0.0 0.0 -31.05 Thermo Fisher Scient 126 124 189.880 206.460 24 26 0.3 0.3 8.82 United Therapeutics 13 13 147.950 112.360 2 1 0.0 0.0 -24.06 Unitedhealth Group I 303 297 220.460 214.000 67 64 0.8 0.8 -2.61 Universal Health Svc 27 26 113.350 118.410 3 3 0.0 0.0 4.56 Varian Med Sys Inc 29 28 111.150 122.650 3 3 0.0 0.0 10.35 Veeva Sys Inc 35 35 55.280 73.020 2 3 0.0 0.0 32.09 Vertex Pharmaceutica 79 78 149.860 162.980 12 13 0.1 0.2 8.75 Waters Corp 24 23 193.190 198.650 5 5 0.1 0.1 2.83
37 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Wellcare Group Inc 14 14 201.110 193.630 3 3 0.0 0.0 -3.72 West Pharmaceutical 23 22 98.670 88.290 2 2 0.0 0.0 -10.39 Zimmer Hldgs Inc 64 62 120.670 109.040 8 7 0.1 0.1 -9.44 Zoetis Inc 155 152 72.040 83.510 11 13 0.1 0.2 16.11 1,057 1,012 13.2 13.1 -0.94 Financials Affiliated Managers 17 17 205.250 189.580 3 3 0.0 0.0 -7.49 Aflac Inc 244 235 87.780 43.760 21 10 0.3 0.1 0.29 Agnc Invt Corp 123 123 20.190 18.920 2 2 0.0 0.0 -3.57 Alleghany Corp 5 5 596.090 614.440 3 3 0.0 0.0 4.81 Allstate Corp 115 109 104.710 94.800 12 10 0.2 0.1 -9.01 Ally Finl Inc 139 136 29.160 27.150 4 4 0.1 0.0 -6.49 American Express Co 227 224 99.310 93.280 23 21 0.3 0.3 -5.75 American Finl Group 22 22 108.540 112.220 2 2 0.0 0.0 3.72 American Intl Group 285 277 59.580 54.420 17 15 0.2 0.2 -8.13 American Natl Ins Co 3 3 128.250 116.960 0 0 0.0 0.0 -8.16 Ameriprise Finl Inc 47 46 169.470 147.940 8 7 0.1 0.1 -12.25 Annaly Mtg Mgmt Inc 361 355 11.890 10.430 4 4 0.1 0.0 -9.73 Aon Plc 78 77 134.000 140.330 10 11 0.1 0.1 4.99 Arch Cap Group Ltd 39 38 90.770 85.590 4 3 0.0 0.0 -5.71 Aspen Insurance Hold 21 19 40.600 44.850 1 1 0.0 0.0 11.19 Associated Banc Corp 48 50 25.400 24.850 1 1 0.0 0.0 -1.57
38 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Assurant Inc 17 15 100.840 91.410 2 1 0.0 0.0 -8.78 Assured Guaranty Ltd 36 34 33.870 36.200 1 1 0.0 0.0 7.37 Athene Hldg Ltd 34 37 51.710 47.810 2 2 0.0 0.0 -7.54 Axis Capital Holding 27 25 50.260 57.570 1 1 0.0 0.0 15.32 Bank Amer Corp 3,064 2,966 29.520 29.990 90 89 1.1 1.1 1.98 Bank Hawaii Corp 13 13 85.700 83.100 1 1 0.0 0.0 -2.43 Bank of New York Mel 313 303 53.860 51.530 17 16 0.2 0.2 -3.93 Bank of the Ozarks I 38 38 48.450 48.270 2 2 0.0 0.0 -0.00 Bankunited Inc 33 32 40.720 39.980 1 1 0.0 0.0 -1.33 Bb&T Corp 248 243 49.720 52.040 12 13 0.2 0.2 5.43 Berkley W R Corp 30 29 71.650 72.700 2 2 0.0 0.0 1.66 Berkshire Hathaway I 608 597 198.220 199.480 121 119 1.5 1.5 0.64 Bgc Partners Inc 75 78 15.110 13.450 1 1 0.0 0.0 -9.77 Blackrock Inc 39 39 513.710 541.720 20 21 0.3 0.3 6.01 Bok Finl Corp 8 8 92.320 98.990 1 1 0.0 0.0 7.76 Brighthouse Finl Inc 27 26 58.640 51.400 2 1 0.0 0.0 -12.35 Brown & Brown Inc 72 72 51.460 25.440 4 2 0.0 0.0 -0.85 CNA Finl Corp 8 8 53.050 49.350 0 0 0.0 0.0 -2.79 Capital One Finl Cor 152 149 99.580 95.820 15 14 0.2 0.2 -3.36 Cboe Hldgs Inc 35 35 124.590 114.100 4 4 0.1 0.1 -8.20 Chimera Invt Corp 59 56 18.480 17.410 1 1 0.0 0.0 -3.07 Chubb Limited 147 144 146.130 136.770 21 20 0.3 0.3 -5.92
39 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Cincinnati Finl Corp 48 47 74.970 74.260 4 3 0.0 0.0 -0.25 Cit Group Inc 41 41 49.230 51.500 2 2 0.0 0.0 4.95 Citigroup Inc 836 798 74.410 67.500 62 54 0.8 0.7 -8.91 Citizens Finl Group 156 153 41.980 41.980 7 6 0.1 0.1 0.48 Cme Group Inc 107 104 146.050 161.740 16 17 0.2 0.2 11.20 Comerica Inc 54 54 86.810 95.930 5 5 0.1 0.1 10.84 Commerce Bancshares 30 30 55.840 59.910 2 2 0.0 0.0 7.71 Credit Accep Corp Mi 4 3 323.480 330.410 1 1 0.0 0.0 2.14 Cullen Frost Bankers 18 17 94.650 106.070 2 2 0.0 0.0 12.67 Discover Finl Svcs 114 112 76.920 71.930 9 8 0.1 0.1 -6.07 E Trade Financial Co 85 82 49.570 55.410 4 5 0.1 0.1 11.78 East West Bancorp In 45 46 60.830 62.540 3 3 0.0 0.0 3.12 Eaton Vance Corp 35 34 56.390 55.670 2 2 0.0 0.0 -0.75 Erie Indty Co 8 8 121.840 117.640 1 1 0.0 0.0 -2.77 Everest Re Group Ltd 13 12 221.260 256.820 3 3 0.0 0.0 16.66 FNB Corp 99 95 13.820 13.450 1 1 0.0 0.0 -1.85 Factset Resh Sys Inc 12 12 192.760 199.420 2 2 0.0 0.0 3.74 Federated Invs Inc P 29 30 36.080 33.400 1 1 0.0 0.0 -6.73 Fidelity National Fi 82 80 39.240 40.020 3 3 0.0 0.0 2.78 Fifth Third Bancorp 224 216 30.340 31.750 7 7 0.1 0.1 5.18 First Amern Finl Cor 33 33 56.040 58.680 2 2 0.0 0.0 5.40 First Hawaiian Inc 17 18 29.180 27.830 0 1 0.0 0.0 -3.82
40 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) First Horizon Natl C 94 88 19.990 18.830 2 2 0.0 0.0 -5.24 First Rep Bk San Fra 50 49 86.640 92.610 4 5 0.1 0.1 7.09 Franklin Res Inc 106 100 43.330 34.680 5 3 0.1 0.0 -12.38 Gallagher Arthur J & 55 55 63.280 68.730 3 4 0.0 0.0 9.26 Goldman Sachs Group 111 109 254.760 251.860 28 27 0.4 0.4 -0.86 Hanover Ins Group In 14 13 108.080 117.890 2 2 0.0 0.0 9.59 Hartford Finl Svcs G 112 109 56.280 51.520 6 6 0.1 0.1 -8.02 Huntington Bancshare 342 332 14.560 15.100 5 5 0.1 0.1 4.42 Interactive Brokers 22 22 59.210 67.240 1 1 0.0 0.0 13.73 Intercontinentalexch 185 179 70.560 72.520 13 13 0.2 0.2 3.11 Invesco Ltd 127 123 36.540 32.010 5 4 0.1 0.1 -11.63 J P Morgan Chase & C 1,091 1,071 106.940 109.970 117 118 1.5 1.5 3.36 Keycorp 339 334 20.170 19.550 7 7 0.1 0.1 -2.59 Lazard Ltd 36 35 52.500 52.560 2 2 0.0 0.0 3.30 Legg Mason Inc 25 24 41.980 40.650 1 1 0.0 0.0 -2.51 Leucadia Natl Co 103 101 26.490 22.730 3 2 0.0 0.0 -13.85 Lincoln Natl Corp In 69 68 76.870 73.060 5 5 0.1 0.1 -4.57 Loews Corp 88 86 50.030 49.730 4 4 0.1 0.1 -0.48 Lpl Finl Hldgs Inc 27 27 57.140 61.070 2 2 0.0 0.0 7.29 M & T Bk Corp 45 44 170.990 184.360 8 8 0.1 0.1 8.24 MSCI Inc 29 28 126.540 149.470 4 4 0.0 0.1 18.42 Markel Corp 4 4 1139.130 1170.250 5 5 0.1 0.1 2.73
41 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Marketaxess Hldgs In 12 11 201.750 217.440 2 2 0.0 0.0 8.01 Marsh & McLennan Cos 162 158 81.390 82.590 13 13 0.2 0.2 1.93 Mercury Genl Corp Ne 8 8 53.440 45.870 0 0 0.0 0.0 -13.02 Metlife Inc 285 279 50.560 45.890 14 13 0.2 0.2 -8.47 Mfa Mtg Invts Inc 121 125 7.920 7.530 1 1 0.0 0.0 -2.37 Moodys Corp 53 51 147.610 161.300 8 8 0.1 0.1 9.56 Morgan Stanley 407 396 52.470 53.960 21 21 0.3 0.3 3.29 Morningstar Inc 6 6 96.970 95.520 1 1 0.0 0.0 -1.24 Nasdaq Stock Martket 36 36 76.830 86.220 3 3 0.0 0.0 12.73 Navient Corp 81 84 13.320 13.120 1 1 0.0 0.0 -0.28 New Residential Invt 97 102 17.880 16.450 2 2 0.0 0.0 -5.20 New York Cmnty Banco 148 147 13.020 13.030 2 2 0.0 0.0 1.34 Northern Tr Corp 66 65 99.890 103.130 7 7 0.1 0.1 3.65 Old Rep Intl Corp 78 76 21.380 21.450 2 2 0.0 0.0 6.42 Onemain Hldgs Inc 21 20 25.990 29.940 1 1 0.0 0.0 15.20 PNC Financial Corp 153 148 144.290 151.240 22 22 0.3 0.3 5.33 Pacwest Bancorp Del 40 40 50.400 49.530 2 2 0.0 0.0 -0.82 Peoples United Finan 110 104 18.700 18.660 2 2 0.0 0.0 0.66 Pinnacle Finl Partne 22 22 66.300 64.200 1 1 0.0 0.0 -2.96 Popular Inc 32 32 35.490 41.620 1 1 0.0 0.0 17.93 Principal Financial 84 83 70.560 60.910 6 5 0.1 0.1 -12.96 Proassurance Corp 16 17 57.150 48.550 1 1 0.0 0.0 -14.51
42 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Progressive Corp Ohi 182 180 56.320 60.930 10 11 0.1 0.1 8.19 Prosperity Bancshare 21 20 70.070 72.630 1 1 0.0 0.0 4.14 Prudential Finl Inc 135 131 114.980 103.550 16 14 0.2 0.2 -9.19 Raymond James Finl I 41 40 89.300 89.410 4 4 0.0 0.0 0.69 Regions Finl Corp 366 353 17.280 18.580 6 7 0.1 0.1 8.01 Reinsurance Group Am 20 20 155.930 154.000 3 3 0.0 0.0 -0.92 Renaissance Re Hldgs 13 12 125.590 138.510 2 2 0.0 0.0 10.55 S&P Global Inc 81 79 169.400 191.060 14 15 0.2 0.2 13.08 SEI Corp 43 41 71.860 74.910 3 3 0.0 0.0 4.24 Santander Consumer U 48 45 18.620 16.300 1 1 0.0 0.0 -12.19 Schwab Charles Cp Ne 373 366 51.370 52.220 19 19 0.2 0.2 1.86 Signature Bk New Yor 17 17 137.260 141.950 2 2 0.0 0.0 3.42 Slm Corp 136 134 11.300 11.210 2 2 0.0 0.0 -0.80 Starwood Ppty Tr Inc 81 80 21.350 20.950 2 2 0.0 0.0 0.39 State Str Corp 118 114 97.610 99.730 12 11 0.1 0.1 2.60 Suntrust Bks Inc 150 146 64.590 68.040 10 10 0.1 0.1 5.94 Svb Finl Group 17 16 233.770 240.010 4 4 0.0 0.0 2.67 Synchrony Finl 247 240 38.610 33.530 10 8 0.1 0.1 -12.82 Synovus Finl Corp 37 36 47.940 49.940 2 2 0.0 0.0 4.68 T.Rowe Price Group I 75 73 104.930 107.970 8 8 0.1 0.1 3.52 TCF Bkg & Svgs Fa Mi 51 48 20.500 22.810 1 1 0.0 0.0 12.02 Td Ameritrade Hldg C 79 90 51.130 59.230 4 5 0.1 0.1 16.29
43 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Tfs Finl Corp 16 17 14.940 14.690 0 0 0.0 0.0 -0.54 Torchmark Corp 36 35 90.710 84.170 3 3 0.0 0.0 -7.06 Travelers Companies 87 84 135.640 138.860 12 12 0.1 0.2 2.90 Two Hbrs Invt Corp 57 52 16.260 15.370 1 1 0.0 0.0 -2.58 US Bancorp Del 492 484 53.580 50.500 26 24 0.3 0.3 -5.18 Unumprovident Corp 71 69 54.890 47.610 4 3 0.0 0.0 -12.91 Validus Holdings Ltd 25 24 46.920 67.450 1 2 0.0 0.0 44.56 Voya Finl Inc 58 57 49.470 50.500 3 3 0.0 0.0 2.10 Webster Finl Corp Co 29 29 56.160 55.400 2 2 0.0 0.0 -0.87 Wells Fargo & Co New 1,398 1,373 60.670 52.410 85 72 1.1 0.9 -13.10 Western Alliance Ban 31 30 56.620 58.110 2 2 0.0 0.0 2.63 White Mtns Ins Group 1 1 851.280 822.520 1 1 0.0 0.0 -3.26 Willis Towers Watson 40 38 150.690 152.190 6 6 0.1 0.1 1.40 Xl Group Ltd 78 78 35.160 55.260 3 4 0.0 0.1 57.79 Zions Bancorp 62 61 50.830 52.730 3 3 0.0 0.0 4.12 1,207 1,155 14.9 14.9 -0.57 Information Technology Accenture Plc Irelan 196 192 153.090 153.500 30 29 0.4 0.4 0.27 Activision Blizzard 233 230 63.320 67.460 15 16 0.2 0.2 7.09 Adobe Sys Inc 156 153 175.240 216.080 27 33 0.3 0.4 23.31 Advanced Micro Devic 269 262 10.280 10.050 3 3 0.0 0.0 -2.24 Akamai Technologies 52 51 65.040 70.980 3 4 0.0 0.0 9.13
44 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Alliance Data System 15 15 253.480 212.860 4 3 0.0 0.0 -15.83 Alphabet Inc Cl-A 94 92 1053.400 1037.140 99 95 1.2 1.2 -1.54 Alphabet Inc Cl-C 96 94 1046.400 1031.790 100 97 1.3 1.3 -1.40 Amdocs Ltd 45 44 65.480 66.720 3 3 0.0 0.0 2.28 Amphenol Corp New 95 92 87.800 86.130 8 8 0.1 0.1 -1.70 Analog Devices Inc 115 115 89.030 91.130 10 10 0.1 0.1 2.89 Ansys Inc 27 26 147.590 156.690 4 4 0.0 0.1 6.17 Apple Inc 1,624 1,576 169.230 167.780 275 264 3.4 3.4 -0.46 Applied Materials In 336 327 51.120 55.610 17 18 0.2 0.2 8.98 Arista Networks Inc 17 16 235.580 255.300 4 4 0.0 0.1 8.37 Arris Intl Inc 57 56 25.690 26.570 1 1 0.0 0.0 3.43 Arrow Electrs Inc 28 27 80.410 77.020 2 2 0.0 0.0 -4.22 Atlassian Corp Plc 29 28 45.520 53.920 1 2 0.0 0.0 18.45 Autodesk Inc 66 64 104.830 125.580 7 8 0.1 0.1 19.79 Automatic Data Proce 141 139 117.190 113.480 17 16 0.2 0.2 -2.64 Avnet Inc 38 37 39.620 41.760 2 2 0.0 0.0 5.85 Black Knight Inc 35 40 44.150 47.100 2 2 0.0 0.0 6.68 Booz Allen Hamilton 44 43 38.130 38.720 2 2 0.0 0.0 2.07 Broadcom Ltd 128 125 256.900 235.650 33 29 0.4 0.4 -7.62 Broadridge Finl Solu 38 36 90.580 109.690 3 4 0.0 0.1 21.51 Ca Inc 99 97 33.280 33.900 3 3 0.0 0.0 2.61 Cadence Designs Sys 87 87 41.820 36.770 4 3 0.0 0.0 -12.08
45 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Cavium Inc 21 20 83.830 79.380 2 2 0.0 0.0 -5.31 Cdk Global Inc 40 38 71.280 63.340 3 2 0.0 0.0 -10.95 Cdw Corp 47 46 69.490 70.310 3 3 0.0 0.0 1.47 Cisco Sys Inc 1,566 1,537 38.300 42.890 60 66 0.7 0.9 12.82 Citrix Sys Inc 48 47 88.000 92.800 4 4 0.1 0.1 5.45 Cognex Corp 53 50 61.160 51.990 3 3 0.0 0.0 -14.92 Cognizant Technology 184 181 71.020 80.500 13 15 0.2 0.2 13.63 Coherent Inc 8 8 282.220 187.400 2 1 0.0 0.0 -33.60 Commscope Hldg Co In 58 60 37.830 39.970 2 2 0.0 0.0 5.66 Conduent Inc 60 58 16.160 18.640 1 1 0.0 0.0 15.35 Corelogic Inc 24 25 46.210 45.230 1 1 0.0 0.0 -2.12 Corning Inc 271 264 31.990 27.880 9 7 0.1 0.1 -12.31 Csra Inc 52 49 29.920 41.230 2 2 0.0 0.0 38.59 Cypress Semiconducto 106 105 15.240 16.960 2 2 0.0 0.0 12.02 Dell Technologies In 65 62 81.280 73.210 5 5 0.1 0.1 -9.93 Dolby Laboratories I 18 17 62.000 63.560 1 1 0.0 0.0 2.77 Dst Sys Inc Del 20 19 62.070 83.650 1 2 0.0 0.0 34.77 Dxc Technology Co 90 87 94.900 100.530 9 9 0.1 0.1 6.12 Ebay Inc 308 292 37.740 40.240 12 12 0.1 0.2 6.62 Echostar Holding Cor 15 15 59.900 52.770 1 1 0.0 0.0 -11.90 Electronic Arts 94 93 105.060 121.240 10 11 0.1 0.1 15.40 Euronet Svcs Inc 16 15 84.270 78.920 1 1 0.0 0.0 -6.35
46 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) F5 Networks Inc 20 19 131.220 144.610 3 3 0.0 0.0 10.20 Facebook Inc 738 733 176.460 159.790 130 117 1.6 1.5 -9.45 Fidelity Natl Inform 104 101 94.090 96.300 10 10 0.1 0.1 2.68 Fireeye Inc 57 54 14.200 16.930 1 1 0.0 0.0 19.23 First Data Corp New 148 146 16.710 16.000 2 2 0.0 0.0 -4.25 First Solar Inc 26 25 67.520 70.980 2 2 0.0 0.0 5.12 Fiserv Inc 134 129 131.130 71.310 18 9 0.2 0.1 8.76 Fleetcor Technologie 28 28 192.430 202.500 5 6 0.1 0.1 5.23 Flir Sys Inc 44 42 46.620 50.010 2 2 0.0 0.0 7.63 Fortinet Inc 45 45 43.690 53.580 2 2 0.0 0.0 22.64 Gartner Group Inc Ne 28 27 123.150 117.620 3 3 0.0 0.0 -4.49 Genpact Limited 47 48 31.740 31.990 1 2 0.0 0.0 1.03 Global Pmts Inc 48 47 100.240 111.520 5 5 0.1 0.1 11.26 Godaddy Inc 40 38 50.280 61.420 2 2 0.0 0.0 22.16 Guidewire Software I 24 23 74.260 80.830 2 2 0.0 0.0 8.85 Henry Jack & Assoc I 24 24 116.960 120.950 3 3 0.0 0.0 3.74 Hewlett Packard Ente 513 482 14.360 17.540 7 8 0.1 0.1 22.63 Hp Inc 529 507 21.010 21.920 11 11 0.1 0.1 4.95 Iac Interactivecorp 22 22 122.280 156.380 3 3 0.0 0.0 27.89 Intel Corp 1,489 1,462 46.160 52.080 69 76 0.9 1.0 13.58 Intl Business McHn 268 262 153.420 153.430 41 40 0.5 0.5 1.02 Intuit 77 76 157.780 173.350 12 13 0.2 0.2 10.13
47 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Ipg Photonics Corp 11 11 214.130 233.380 2 3 0.0 0.0 8.99 Jabil Circuit Inc 53 52 26.250 28.730 1 1 0.0 0.0 9.78 Juniper Networks 118 115 28.500 24.330 3 3 0.0 0.0 -14.03 KLA Instrs Corp 49 48 105.070 109.010 5 5 0.1 0.1 4.32 Keysight Technologie 58 58 41.600 52.390 2 3 0.0 0.0 25.94 Lam Resh Corp 51 50 184.070 203.160 9 10 0.1 0.1 10.64 Leidos Hldgs Inc 45 43 64.570 65.400 3 3 0.0 0.0 1.76 Logmein Inc 16 16 114.500 115.550 2 2 0.0 0.0 1.16 Manhattan Assocs Inc 21 22 49.540 41.880 1 1 0.0 0.0 -15.46 Marvell Technology G 125 122 21.470 21.000 3 3 0.0 0.0 -1.90 Mastercard Inc 298 288 151.360 175.160 45 50 0.6 0.7 15.91 Match Group Inc 10 11 31.310 44.440 0 0 0.0 0.0 41.94 Maxim Integrated Pro 89 87 52.280 60.220 5 5 0.1 0.1 15.98 Microchip Technology 72 71 87.880 91.360 6 6 0.1 0.1 4.40 Micron Technology In 344 339 41.120 52.140 14 18 0.2 0.2 26.80 Microsemiconductor 37 36 51.650 64.720 2 2 0.0 0.0 25.30 Microsoft Corp 2,371 2,326 85.540 91.270 203 212 2.5 2.7 7.19 Motorola Solutions I 51 51 90.340 105.300 5 5 0.1 0.1 17.12 National Instrs Corp 33 33 41.630 50.570 1 2 0.0 0.0 22.08 Ncr Corp New 38 37 33.990 31.520 1 1 0.0 0.0 -7.27 Netapp Inc 85 82 55.320 61.690 5 5 0.1 0.1 11.90 Nuance Communication 90 88 16.350 15.750 1 1 0.0 0.0 -3.67
48 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Nvidia Corp 180 180 193.500 231.590 35 42 0.4 0.5 19.76 Nxp Semiconductors N 108 104 117.090 117.000 13 12 0.2 0.2 -0.08 On Semiconductor Cor 130 129 20.940 24.460 3 3 0.0 0.0 16.81 Oracle Corp 921 905 47.280 45.750 44 41 0.5 0.5 -2.86 Palo Alto Networks I 28 27 144.940 181.520 4 5 0.1 0.1 25.24 Pandora Media Inc 64 66 4.820 5.030 0 0 0.0 0.0 4.36 Paychex Inc 102 100 68.080 61.590 7 6 0.1 0.1 -8.87 Paypal Hldgs Inc 357 350 73.620 75.870 26 27 0.3 0.3 3.06 Ptc Inc 37 35 60.770 78.010 2 3 0.0 0.0 28.37 Qorvo Inc 41 39 66.600 70.450 3 3 0.0 0.0 5.78 Qualcomm Inc 467 459 64.020 55.410 30 25 0.4 0.3 -12.71 Red Hat Inc 56 55 120.100 149.510 7 8 0.1 0.1 24.49 Sabre Corp 63 65 20.500 21.450 1 1 0.0 0.0 5.29 Salesforce Com Inc 213 213 102.230 116.300 22 25 0.3 0.3 13.76 Servicenow Inc 53 53 130.390 165.450 7 9 0.1 0.1 26.89 Skyworks Solutions I 58 57 94.950 100.260 6 6 0.1 0.1 5.91 Splunk Inc 44 43 82.840 98.390 4 4 0.0 0.1 18.77 Square Inc 78 75 34.670 49.200 3 4 0.0 0.0 41.91 Ss&C Technologies Hl 56 55 40.480 53.640 2 3 0.0 0.0 32.70 Switch Inc 8 8 18.190 15.910 0 0 0.0 0.0 -12.53 Symantec Corp 193 191 28.060 25.850 5 5 0.1 0.1 -7.62 Synopsys Inc 47 46 85.240 83.240 4 4 0.1 0.0 -2.35
49 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Tableau Software Inc 20 19 69.200 80.820 1 2 0.0 0.0 16.79 Take-Two Interactive 36 34 109.780 97.780 4 3 0.0 0.0 -10.93 Teradata Corp Del 38 37 38.460 39.670 1 1 0.0 0.0 3.15 Teradyne Inc 61 61 41.870 45.710 3 3 0.0 0.0 9.39 Texas Instrs Inc 315 305 104.440 103.890 33 32 0.4 0.4 0.03 Total Sys Svcs Inc 57 56 79.090 86.260 5 5 0.1 0.1 9.22 Trimble Navigation L 80 76 40.640 35.880 3 3 0.0 0.0 -11.71 Twitter Inc 212 209 24.010 29.010 5 6 0.1 0.1 20.82 Tyler Technologies I 11 11 177.050 210.960 2 2 0.0 0.0 19.15 Ultimate Software Gr 9 9 218.230 243.700 2 2 0.0 0.0 11.67 Universal Display Co 13 13 172.650 101.000 2 1 0.0 0.0 -41.47 Vantiv Inc 50 0 73.550 82.240 4 0 0.0 0.0 11.82 Verisign Inc 27 26 114.440 118.560 3 3 0.0 0.0 3.60 Versum Matls Inc 35 34 37.850 37.630 1 1 0.0 0.0 -0.44 Visa Inc 575 564 114.020 119.620 66 67 0.8 0.9 5.09 Vmware Inc 22 21 125.320 121.270 3 3 0.0 0.0 -3.23 Western Digital Corp 94 91 79.530 92.270 7 8 0.1 0.1 16.66 Western Un Co 145 143 19.010 19.230 3 3 0.0 0.0 2.12 Wex Inc 12 13 141.230 156.620 2 2 0.0 0.0 10.90 Workday Inc 42 42 101.740 127.110 4 5 0.1 0.1 24.94 Worldpay Inc 0 88 73.550 82.240 0 7 0.0 0.1 NA Xerox Corp 72 72 29.150 28.780 2 2 0.0 0.0 -0.41
50 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Xilinx Inc 78 78 67.420 72.240 5 6 0.1 0.1 7.69 Zebra Technologies C 17 16 103.800 139.190 2 2 0.0 0.0 34.09 Zillow Group Inc 35 32 40.920 53.800 1 2 0.0 0.0 31.48 Zillow Group Inc 16 17 40.740 54.000 1 1 0.0 0.0 32.55 Zynga Inc 251 245 4.000 3.660 1 1 0.0 0.0 -8.50 1,874 1,895 23.3 24.5 3.89 Telecom Services At&T Inc 1,944 1,908 38.880 35.650 76 68 0.9 0.9 -7.08 Centurylink Inc 304 300 16.680 16.430 5 5 0.1 0.1 1.57 Sprint Corp 205 197 5.890 4.880 1 1 0.0 0.0 -17.15 T-Mobile US Inc 93 93 63.510 61.040 6 6 0.1 0.1 -3.89 Telephone & Data Sys 32 30 27.800 28.030 1 1 0.0 0.0 1.40 United States Cellul 5 5 37.630 40.190 0 0 0.0 0.0 6.80 Verizon Communicatio 1,290 1,277 52.930 47.820 68 61 0.9 0.8 -8.62 Zayo Group Hldgs Inc 60 56 36.800 34.160 2 2 0.0 0.0 -7.17 159 144 2.0 1.9 -7.36 Utilities AES Corp 206 205 10.830 11.370 2 2 0.0 0.0 6.17 Alliant Corp 74 72 42.610 40.860 3 3 0.0 0.0 -3.29 Ameren Corp 77 75 58.990 56.630 5 4 0.1 0.1 -3.19 American Elec Pwr In 155 152 73.570 68.590 11 10 0.1 0.1 -5.86 American Wtr Wks Co 56 56 91.490 82.130 5 5 0.1 0.1 -9.76
51 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Utilities (cont.) Aqua America Inc 56 56 39.230 34.060 2 2 0.0 0.0 -12.66 Atmos Energy Corp 32 34 85.890 84.240 3 3 0.0 0.0 -1.35 Avangrid Inc 18 17 50.580 51.120 1 1 0.0 0.0 1.98 CMS Energy Corp 88 87 47.300 45.290 4 4 0.1 0.1 -3.47 Calpine Corp 116 0 15.130 15.250 2 0 0.0 0.0 0.79 Centerpoint Energy I 135 132 28.360 27.400 4 4 0.0 0.0 -2.36 Consolidated Edison 98 96 84.950 77.940 8 7 0.1 0.1 -7.40 Dominion Res Inc Va 202 198 81.060 67.430 16 13 0.2 0.2 -15.85 Dte Energy Co 57 55 109.460 104.400 6 6 0.1 0.1 -3.80 Duke Energy Corp New 221 218 84.110 77.470 19 17 0.2 0.2 -6.82 Edison Intl 101 97 63.240 63.660 6 6 0.1 0.1 1.63 Entergy Corp New 56 55 81.390 78.780 5 4 0.1 0.1 -2.02 Eversource Energy 100 97 63.180 58.920 6 6 0.1 0.1 -5.93 Exelon Corp 302 297 39.410 39.010 12 12 0.1 0.1 -0.08 First Energy Corp 140 137 30.620 34.010 4 5 0.1 0.1 12.37 Great Plains Energy 67 67 32.240 31.790 2 2 0.0 0.0 -0.49 Hawaiian Elec Indust 34 33 36.150 34.380 1 1 0.0 0.0 -4.01 MDU Resources Group 63 58 26.880 28.160 2 2 0.0 0.0 5.54 National Fuel Gas Co 26 25 54.910 51.450 1 1 0.0 0.0 -5.54 Nextera Energy Inc 148 145 156.190 163.330 23 24 0.3 0.3 5.32 Nisource Inc 104 104 25.670 23.910 3 2 0.0 0.0 -6.05 Nrg Energy Inc 93 93 28.480 30.530 3 3 0.0 0.0 7.32
52 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Utilities (cont.) Oge Energy Corp 62 62 32.910 32.770 2 2 0.0 0.0 0.61 Pg&E Corp 162 159 44.830 43.930 7 7 0.1 0.1 -2.01 Pinnacle West Cap Co 35 35 85.180 79.800 3 3 0.0 0.0 -5.50 Ppl Corp 217 213 30.950 28.290 7 6 0.1 0.1 -7.24 Public Svc Enterpris 160 155 51.500 50.240 8 8 0.1 0.1 -1.50 Scana Corp New 42 42 39.780 37.550 2 2 0.0 0.0 -4.13 Sempra Energy 80 77 106.920 111.220 9 9 0.1 0.1 4.86 Southern Co 314 308 48.090 44.660 15 14 0.2 0.2 -5.91 UGI Corp New 54 54 46.950 44.420 3 2 0.0 0.0 -4.85 Vectren Corp 27 25 65.020 63.920 2 2 0.0 0.0 -0.98 Vistra Energy Corp 74 75 18.320 20.830 1 2 0.0 0.0 13.70 Wec Energy Group Inc 100 98 66.430 62.700 7 6 0.1 0.1 -4.76 Westar Energy Inc 44 44 52.800 52.590 2 2 0.0 0.0 0.41 Xcel Energy Inc 161 156 48.110 45.480 8 7 0.1 0.1 -4.64 235 219 2.9 2.8 -3.07 Real Estate Alexandria Real Esta 30 31 130.590 124.890 4 4 0.0 0.0 -3.67 American Campus Cmnt 43 42 41.030 38.620 2 2 0.0 0.0 -4.76 American Homes 4 Ren 77 76 21.840 20.080 2 2 0.0 0.0 -7.82 American Tower Reit 133 131 142.670 145.340 19 19 0.2 0.2 1.87 Apartment Invt & Mgm 49 48 43.710 40.750 2 2 0.0 0.0 -5.87 Apple Hospitality Re 65 67 19.610 17.570 1 1 0.0 0.0 -8.94
53 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Real Estate (cont.) Avalonbay Cmntys Inc 44 42 178.410 164.460 8 7 0.1 0.1 -6.99 Boston Properties In 49 48 130.030 123.220 6 6 0.1 0.1 -4.62 Brandywine Rlty Tr 54 56 18.190 15.880 1 1 0.0 0.0 -11.80 Brixmor Ppty Group I 98 96 18.660 15.250 2 1 0.0 0.0 -17.05 Camden Ppty Tr 28 28 92.060 84.180 3 2 0.0 0.0 -7.72 Cbre Group Inc 92 91 43.310 47.220 4 4 0.0 0.1 9.03 Colony Northstar Inc 167 173 11.410 5.620 2 1 0.0 0.0 -49.79 Columbia Ppty Tr Inc 37 38 22.950 20.460 1 1 0.0 0.0 -9.99 Corecivic Inc 39 36 22.500 19.520 1 1 0.0 0.0 -11.33 Coresite Rlty Corp 10 11 113.900 100.260 1 1 0.0 0.0 -11.13 Corporate Office Ppt 33 31 29.200 25.830 1 1 0.0 0.0 -10.60 Crown Castle Intl Co 127 125 111.010 109.610 14 14 0.2 0.2 -0.32 Cubesmart 58 56 28.920 28.200 2 2 0.0 0.0 -1.45 Cyrusone Inc 29 28 59.530 51.210 2 1 0.0 0.0 -13.20 Dct Industrial Trust 30 29 58.780 56.340 2 2 0.0 0.0 -3.54 Ddr Corp 95 98 8.960 7.330 1 1 0.0 0.0 -15.94 Digital Rlty Tr Inc 64 62 113.900 105.380 7 7 0.1 0.1 -6.59 Douglas Emmett Inc 49 50 41.060 36.760 2 2 0.0 0.0 -9.86 Duke-Weeks Realty Co 112 112 27.210 26.480 3 3 0.0 0.0 -1.92 Empire St Rlty Tr In 41 42 20.530 16.790 1 1 0.0 0.0 -17.72 Epr Pptys 19 20 65.460 55.400 1 1 0.0 0.0 -13.76 Equinix Inc 24 24 453.220 418.140 11 10 0.1 0.1 -7.21
54 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Real Estate (cont.) Equity Comwlth 38 37 30.510 30.670 1 1 0.0 0.0 0.52 Equity Lifestyle Ppt 25 26 89.020 87.770 2 2 0.0 0.0 -0.78 Equity Residential P 113 111 63.770 61.620 7 7 0.1 0.1 -2.48 Essex Ppty Tr Inc 21 20 241.370 240.680 5 5 0.1 0.1 0.49 Extra Space Storage 38 38 87.450 87.360 3 3 0.0 0.0 0.80 Federal Realty Invt 23 22 132.810 116.110 3 3 0.0 0.0 -11.83 Forest City Rlty Tr 78 78 24.100 20.260 2 2 0.0 0.0 -15.21 Gaming & Leisure Ppt 65 62 37.000 33.470 2 2 0.0 0.0 -7.81 Ggp Inc 194 188 23.390 20.460 5 4 0.1 0.0 -12.53 Hcp Inc 147 144 26.080 23.230 4 3 0.0 0.0 -9.41 Healthcare Tr Amer I 65 64 30.040 26.450 2 2 0.0 0.0 -11.95 Highwoods Pptys Inc 32 31 50.910 43.820 2 1 0.0 0.0 -13.02 Hospitality Pptys Tr 52 51 29.850 25.340 2 1 0.0 0.0 -13.58 Host Marriott Corp N 231 224 19.850 18.640 5 4 0.1 0.1 -5.08 Howard Hughes Corp C 11 11 131.270 139.130 1 2 0.0 0.0 5.99 Hudson Pac Pptys Inc 50 49 34.250 32.530 2 2 0.0 0.0 -4.30 Invitation Homes Inc 92 92 23.570 22.830 2 2 0.0 0.0 -2.63 Iron Mtn Inc New 86 86 37.730 32.860 3 3 0.0 0.0 -11.36 Jbg Smith Pptys 26 27 34.730 33.710 1 1 0.0 0.0 -2.94 Jones Lang Lasalle I 14 14 148.930 174.640 2 2 0.0 0.0 17.26 Kilroy Rlty Corp 30 30 74.650 70.960 2 2 0.0 0.0 -4.38 Kimco Realty Corp 129 129 18.150 14.400 2 2 0.0 0.0 -20.66
55 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Real Estate (cont.) Lamar Advertising Co 26 25 74.240 63.660 2 2 0.0 0.0 -13.06 Liberty Ppty Tr 47 45 43.010 39.730 2 2 0.0 0.0 -6.70 Life Storage Inc 15 14 89.070 83.520 1 1 0.0 0.0 -5.11 Macerich Co 43 43 65.680 56.020 3 2 0.0 0.0 -13.64 Medical Pptys Trust 114 111 13.780 13.000 2 1 0.0 0.0 -3.83 Mid-Amer Apt Cmntys 35 35 100.560 91.240 4 3 0.0 0.0 -8.36 National Retail Prop 48 47 43.130 39.260 2 2 0.0 0.0 -7.86 Omega Healthcare Inv 60 59 27.540 27.040 2 2 0.0 0.0 0.65 Outfront Media Inc 45 44 23.200 18.740 1 1 0.0 0.0 -17.70 Paramount Group Inc 65 63 15.850 14.240 1 1 0.0 0.0 -9.53 Park Hotels Resorts 46 53 28.750 27.020 1 1 0.0 0.0 -4.51 Piedmont Office Real 44 46 19.610 17.590 1 1 0.0 0.0 -9.25 Prologis Inc 166 163 64.510 62.990 11 10 0.1 0.1 -1.61 Public Storage Inc 47 46 209.000 200.390 10 9 0.1 0.1 -3.15 Rayonier Inc 41 40 31.630 35.180 1 1 0.0 0.0 12.01 Realogy Hldgs Corp 43 42 26.500 27.280 1 1 0.0 0.0 3.30 Realty Income Corp 88 87 57.020 51.730 5 5 0.1 0.1 -8.11 Regency Ctrs Corp 47 47 69.180 58.980 3 3 0.0 0.0 -13.93 Retail Pptys Amer In 74 70 13.440 11.660 1 1 0.0 0.0 -11.98 Sba Communications C 38 36 163.360 170.920 6 6 0.1 0.1 4.63 Senior Hsg Pptys Tr 72 75 19.150 15.660 1 1 0.0 0.0 -16.41 Simon Ppty Group Inc 98 97 171.740 154.350 17 15 0.2 0.2 -9.00
56 Chatham University Equity Holdings Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Real Estate (cont.) Sl Green Rlty Corp 30 28 100.930 96.830 3 3 0.0 0.0 -3.26 Spirit Rlty Cap Inc 131 143 8.580 7.760 1 1 0.0 0.0 -7.46 Store Cap Corp 54 53 26.040 24.820 1 1 0.0 0.0 -3.49 Sun Communities Inc 24 24 92.780 91.370 2 2 0.0 0.0 -0.75 Tanger Factory Outle 28 29 26.510 22.000 1 1 0.0 0.0 -15.86 Taubman Ctrs Inc 18 18 65.430 56.910 1 1 0.0 0.0 -12.04 Udr Inc 84 81 38.520 35.620 3 3 0.0 0.0 -6.75 Uniti Group Inc 54 51 17.790 16.250 1 1 0.0 0.0 -5.27 Ventas Inc 112 110 60.010 49.530 7 5 0.1 0.1 -16.15 Vereit Inc 311 297 7.790 6.960 2 2 0.0 0.0 -8.88 Vici Pptys Inc 0 88 20.500 18.320 0 2 0.0 0.0 NA Vornado Rlty Tr 54 53 78.180 67.300 4 4 0.1 0.0 -13.16 W P Carey Inc 33 33 68.900 61.990 2 2 0.0 0.0 -8.56 Weingarten Realty In 39 37 32.870 28.080 1 1 0.0 0.0 -13.36 Welltower Inc 116 114 63.770 54.430 7 6 0.1 0.1 -13.28 Weyerhaeuser Co 237 230 35.260 35.000 8 8 0.1 0.1 0.19 289 267 3.6 3.5 -5.86
57 Chatham University Custom Benchmark Specification Mellon Lg Cap Stock Index Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Russell 1000 12/06 3/18 100.00 Russell 1000
58 Chatham University Growth of One Dollar Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
1.20
1.10 Value
1.00
0.90 3/17 6/17 9/17 12/17 3/18
Return $ Legend 1 Year Inception 3/31/17 Value Total 14.52 14.52 1.15 Russell 3000 13.81 13.81 1.14
1 Chatham University Value Added Analysis Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
0.7%
0.6%
0.5%
0.4%
0.34 0.3%
0.2% 0.15 0.15
0.1%
0.0% 0.00
-0.1%
-0.2% 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. Russell 3000 Cumulative Value Added
2 Chatham University Equity Structural Characteristics Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
# % % % Sectors Turn- Quarter $(000) Stocks Equity Cash Other ENR MAT IND CDI CST HTH FIN INF TEL UTL RES Over 03/31/17 3,528 820 100 0 0 6 3 11 12 9 13 14 22 2 3 4 NA 06/30/17 3,647 808 100 0 0 5 3 11 12 8 14 14 22 2 3 4 NA 09/30/17 3,819 895 100 0 0 6 3 11 12 7 14 15 23 2 3 4 NA 12/31/17 4,061 882 100 0 0 6 3 11 12 8 13 15 23 2 3 4 NA 03/31/18 4,040 854 100 0 0 5 3 11 13 7 13 15 25 2 3 4 NA
Standard & Poor's 500 22,496,007 505 100 0 0 6 3 10 13 8 14 15 25 2 3 3 NA ENR - Energy CST - Consumer Staples TEL - Telecommunication Services MAT- Materials HTH- Health Care UTL - Utilities IND - Industrials FIN - Financials RES - Real Estate CDI - Consumer Discretionary INF - Information Technology Characteristics represent 100% of portfolio's market value. 3 Chatham University Equity Investment Characteristics Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Growth Average $ Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Market Cap(Mil) P/E P/B YLD ROE Beta Debt/Eqt R Square 03/31/17 4.4 8.0 132,659 26.7 2.5 1.9 16.6 1.04 0.63 0.97 06/30/17 4.8 7.9 135,217 25.9 2.6 1.9 16.6 1.04 0.62 0.96 09/30/17 5.3 7.7 142,309 26.1 2.7 1.9 17.0 1.04 0.65 0.96 12/31/17 5.1 7.4 162,512 27.4 2.8 1.8 16.8 1.04 0.62 0.97 03/31/18 5.6 7.0 159,856 27.8 2.6 1.9 16.7 1.04 0.65 0.96
Standard & Poor's 500 8.4 8.0 193,097 25.1 2.8 2.0 18.0 1.00 0.96 0.98
Characteristics represent 100% of portfolio's market value. 4 Chatham University Equity Return Analysis Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Net Management Effect Total Equity Sector Stock Quarter Index* Return Return Timing Weighting Selection Trading Total 06/17 3.02 3.36 3.36 -0.01 0.01 0.34 -0.00 0.34 09/17 4.57 4.72 5.19 -0.47 -0.02 0.20 0.43 0.15 12/17 6.34 6.34 6.34 0.00 -0.01 0.00 0.00 0.00
03/18 -0.64 -0.50 -0.53 0.03 0.03 0.12 -0.04 0.15
From Inception 13.81 14.52 15.00 -0.48 0.02 0.74 0.43 0.71 Avg Up Markets 4.64 4.80 4.96 -0.16 0.16 Avg Down Markets -0.64 -0.50 -0.53 0.03 0.15 Index* : Russell 3000 5 Chatham University Equity Sector Attribution Analysis Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Portfolio Russell 3000 Selection Sector Mkt Val % Return Mkt Val % Return Stock Sector Total Information Technology 23.40 4.24 22.82 4.02 0.05 0.03 0.08 Energy 5.53 -4.98 5.77 -6.09 0.06 0.01 0.07 Industrials 11.30 -1.41 10.95 -1.78 0.04 -0.00 0.04 Materials 3.24 -4.94 3.46 -5.26 0.01 0.01 0.02 Health Care 13.44 -0.23 13.31 -0.31 0.01 0.00 0.01 Financials 14.83 -0.38 15.13 -0.45 0.01 -0.00 0.01 Real Estate 3.84 -6.17 3.85 -6.17 0.00 0.00 0.00 Telecom Services 1.92 -7.35 1.90 -7.31 -0.00 -0.00 -0.00 Utilities 2.69 -3.88 2.98 -3.38 -0.01 0.01 -0.01 Consumer Staples 7.53 -7.07 7.33 -6.76 -0.02 -0.01 -0.04 Consumer Discretionary 12.27 1.73 12.50 1.97 -0.03 -0.01 -0.04 Quarter Total 100.00 -0.49 100.00 -0.64 0.12 0.03 0.15
Stock Selection Return Attribution = [ Portfolio Market Value Sector Percent ] x [ Portfolio Sector Return - Index Sector Return]
Sector Selection Return Attribution = [ Portfolio Sector Percent - Index Sector Percent ] x [ Index Sector Return - Index Total Return ]
Trading Effect -0.04% = [ Actual Return -0.53% ] - [ Buy Hold Return -0.49% ]
6 Chatham University Equity Summary Statistics Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
10 Largest Holdings 10 Best Performers Name %Port $(000) Name %Port %Return Apple Inc 3.4 137 Atara Biotherapeutic 0.0 115.47 Microsoft Corp 2.6 107 Iovance Biotherapeut 0.0 111.25 Alphabet Inc Cl-A 2.3 91 Infinera Corporation 0.0 71.56 Amazon Com Inc 2.1 85 Fossil Group Inc 0.0 63.45 J P Morgan Chase & C 1.4 56 Shutterfly Inc 0.0 63.32 Facebook Inc 1.4 56 Cerus Corp 0.0 62.13 Berkshire Hathaway I 1.4 55 Twilio Inc 0.0 61.78 Johnson & Johnson 1.2 49 Xl Group Ltd 0.2 57.79 Intel Corp 1.1 45 Abiomed Inc 0.1 55.27 Bank Amer Corp 1.1 44 Netflix Com Inc 0.4 53.86
Portfolio Characteristic Distribution (%) 10 Worst Performers Quartile Mkt. Cap P/E Yield Name %Port %Return 1st 60.4 26.9 22.4 Colony Northstar Inc 0.1 -49.79 2nd 12.4 29.9 28.4 Nutri Sys Inc New 0.0 -48.37 3rd 7.4 28.2 22.0 Globalstar Inc 0.0 -47.52 4th 19.8 15.0 27.2 Hovnanian Enterprise 0.0 -45.37 Standard & Poor's 500 Weatherford Intl Plc 0.0 -45.08 Mimedx Group Inc 0.0 -44.73 25th Percentile 44,383,109 32.4 2.9 Inspired Entmt Inc 0.0 -43.88 50th Percentile 20,836,182 22.0 1.8 Ep Energy Corp 0.0 -43.22 75th Percentile 12,444,587 14.4 0.8 Universal Display Co 0.0 -41.47 Advaxis Inc 0.0 -40.49
7 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy Anadarko Pete Corp 33 0 53.640 60.410 2 0 0.0 0.0 13.10 Andeavor 28 28 114.340 100.560 3 3 0.1 0.1 -11.50 Antero Res Corp 9 9 19.000 19.850 0 0 0.0 0.0 4.47 Apache Corp 24 24 42.220 38.480 1 1 0.0 0.0 -8.36 Archrock Inc 17 17 10.500 8.750 0 0 0.0 0.0 -15.60 Baker Hughes A Ge Co 242 312 31.640 27.770 8 9 0.2 0.2 -11.72 Cabot Oil & Gas Corp 27 27 28.600 23.980 1 1 0.0 0.0 -15.98 Callon Pete Co Del 24 24 12.150 13.240 0 0 0.0 0.0 8.97 Cheniere Energy Inc 42 42 53.840 53.450 2 2 0.1 0.1 -0.72 Chesapeake Energy Co 126 126 3.960 3.020 0 0 0.0 0.0 -23.74 Chevron Corp 234 241 125.190 114.040 29 27 0.7 0.7 -8.00 Clean Energy Fuels C 501 501 2.030 1.650 1 1 0.0 0.0 -18.72 Concho Res Inc 2 2 150.220 150.330 0 0 0.0 0.0 0.07 Conocophillips 227 229 54.890 59.290 12 14 0.3 0.3 8.61 Delek US Hldgs Inc N 86 110 34.940 40.700 3 4 0.1 0.1 17.11 Denbury Res Inc 103 103 2.210 2.740 0 0 0.0 0.0 23.98 Devon Energy Corp 108 110 41.400 31.790 4 3 0.1 0.1 -23.07 Energen Corp 32 32 57.570 62.860 2 2 0.0 0.0 9.19 Eog Res Inc 49 49 107.910 105.270 5 5 0.1 0.1 -2.30 Ep Energy Corp 114 114 2.360 1.340 0 0 0.0 0.0 -43.22 Eqt Corp 31 31 56.920 47.510 2 1 0.0 0.0 -16.48 Exterran Corp 13 13 31.440 26.700 0 0 0.0 0.0 -15.08
8 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy (cont.) Exxon Mobil Corp 568 572 83.640 74.610 48 43 1.2 1.1 -9.89 Fairmount Santrol Hl 100 0 5.230 4.250 1 0 0.0 0.0 -18.74 Halliburton Co 92 93 48.870 46.940 4 4 0.1 0.1 -3.57 Hess Corp 80 81 47.470 50.620 4 4 0.1 0.1 7.18 Kinder Morgan Inc De 232 236 18.070 15.060 4 4 0.1 0.1 -16.09 Kosmos Energy Ltd 612 612 6.850 6.300 4 4 0.1 0.1 -8.03 Laredo Pete Hldgs In 120 120 10.610 8.710 1 1 0.0 0.0 -17.91 Marathon Oil Corp 144 144 16.930 16.130 2 2 0.1 0.1 -4.42 Marathon Pete Corp 101 102 65.980 73.110 7 7 0.2 0.2 11.58 McDermott Intl 204 204 6.580 6.090 1 1 0.0 0.0 -7.45 Murphy Oil Corp 24 24 31.050 25.840 1 1 0.0 0.0 -16.00 National-Oilwell Inc 157 240 36.020 36.810 6 9 0.1 0.2 2.33 Newfield Expl Co 46 46 31.530 24.420 1 1 0.0 0.0 -22.55 Noble Energy Inc 106 106 29.140 30.300 3 3 0.1 0.1 4.39 Occidental Pete Corp 66 66 73.660 64.960 5 4 0.1 0.1 -10.73 Oceaneering Intl Inc 15 15 21.140 18.540 0 0 0.0 0.0 -12.30 Oneok Inc New 92 119 53.450 56.920 5 7 0.1 0.2 7.86 Pbf Energy Inc 40 40 35.450 33.900 1 1 0.0 0.0 -3.43 Pdc Energy Inc 13 13 51.540 49.030 1 1 0.0 0.0 -4.87 Phillips 66 93 94 101.150 95.920 9 9 0.2 0.2 -4.45 Pioneer Nat Res Co 30 30 172.850 171.780 5 5 0.1 0.1 -0.52 Qep Res Inc 51 51 9.570 9.790 0 0 0.0 0.0 2.30
9 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy (cont.) Range Res Corp 17 17 17.060 14.540 0 0 0.0 0.0 -14.66 Schlumberger Ltd 293 290 67.390 64.780 20 19 0.5 0.5 -3.20 Sm Energy Co 5 5 22.080 18.030 0 0 0.0 0.0 -18.34 Superior Energy Svcs 25 25 9.630 8.430 0 0 0.0 0.0 -12.46 Targa Res Corp 6 6 48.420 44.000 0 0 0.0 0.0 -7.41 U S Silica Hldgs Inc 20 20 32.560 25.520 1 1 0.0 0.0 -21.44 Valero Energy Corp N 96 92 91.910 92.770 9 9 0.2 0.2 1.84 Weatherford Intl Plc 274 274 4.170 2.290 1 1 0.0 0.0 -45.08 Whiting Pete Corp Ne 6 6 26.480 33.840 0 0 0.0 0.0 27.79 World Fuel Svcs Corp 14 14 28.140 24.550 0 0 0.0 0.0 -12.54 225 218 5.5 5.4 -4.98 Materials Aptargroup Inc 39 40 86.280 89.830 3 4 0.1 0.1 4.49 Avery Dennison Corp 58 55 114.860 106.250 7 6 0.2 0.1 -7.13 Axalta Coating Sys L 201 202 32.360 30.190 7 6 0.2 0.2 -6.71 Balchem Corp 5 5 80.600 81.750 0 0 0.0 0.0 1.43 Ball Corp 132 133 37.850 39.710 5 5 0.1 0.1 5.18 Berry Plastics Group 24 24 58.670 54.810 1 1 0.0 0.0 -6.58 Boise Cascade Co Del 100 135 39.900 38.600 4 5 0.1 0.1 -3.09 Chemours Co 29 0 50.060 48.710 1 0 0.0 0.0 -2.36 Compass Minerals Int 16 16 72.250 60.300 1 1 0.0 0.0 -15.54 Dowdupont Inc 337 311 71.220 63.710 24 20 0.6 0.5 -10.07
10 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) Ecolab Inc 90 96 134.180 137.070 12 13 0.3 0.3 2.46 F M C Corp 30 30 94.660 76.570 3 2 0.1 0.1 -18.93 Freeport-McMoran Cop 145 0 18.960 17.570 3 0 0.1 0.0 -7.33 Fuller H B Co 56 56 53.870 49.730 3 3 0.1 0.1 -7.42 Greif Inc 8 8 69.350 58.250 1 0 0.0 0.0 -15.11 International Flav&F 59 58 152.610 136.910 9 8 0.2 0.2 -9.82 Kapstone Paper & Pac 44 44 22.690 34.310 1 2 0.0 0.0 51.65 Lyondellbasell Indus 0 8 110.320 105.680 0 1 0.0 0.0 NA Minerals Technologie 19 19 68.850 66.950 1 1 0.0 0.0 -2.69 Monsanto Co New 45 45 116.780 116.690 5 5 0.1 0.1 0.38 Mosaic Co New 64 64 25.660 24.280 2 2 0.0 0.0 -5.29 Myers Inds Inc 16 16 19.500 21.150 0 0 0.0 0.0 9.13 Newmont Mng Corp Hld 84 0 37.520 39.070 3 0 0.1 0.0 4.52 Nucor Corp 8 0 63.580 61.090 1 0 0.0 0.0 -3.30 PPG Inds Inc 53 53 116.820 111.600 6 6 0.2 0.1 -4.10 Praxair Inc 8 10 154.680 144.300 1 1 0.0 0.0 -6.21 Reliance Steel & Alu 49 49 85.790 85.740 4 4 0.1 0.1 0.50 Ryerson Hldg Corp 105 105 10.400 8.150 1 1 0.0 0.0 -21.63 Schnitzer Stl Inds 47 46 33.500 32.350 2 1 0.0 0.0 -2.88 Scotts Co 39 39 106.990 85.750 4 3 0.1 0.1 -19.38 Sealed Air Corp New 38 38 49.300 42.790 2 2 0.0 0.0 -12.87 Sherwin Williams Co 23 23 410.040 392.120 9 9 0.2 0.2 -4.16
11 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) Sonoco Prods Co 29 29 53.140 48.500 2 1 0.0 0.0 -8.00 Stepan Chem Co 6 6 78.970 83.180 0 0 0.0 0.0 5.62 Trinseo S A 5 5 72.600 74.050 0 0 0.0 0.0 2.48 Westrock Co 30 30 63.210 64.170 2 2 0.0 0.0 2.19 131 118 3.2 2.9 -4.94 Industrials 3m Co 92 93 235.370 219.520 22 20 0.5 0.5 -6.19 AGCO Corp 46 46 71.430 64.850 3 3 0.1 0.1 -9.01 Aaon Inc 33 33 36.700 39.000 1 1 0.0 0.0 6.27 Abm Inds Inc 35 35 37.720 33.480 1 1 0.0 0.0 -10.83 Acuity Brands Inc 8 8 176.000 139.190 1 1 0.0 0.0 -20.85 Aecom Technology Cor 62 62 37.150 35.630 2 2 0.1 0.1 -4.09 Alaska Airgroup 25 25 73.510 61.960 2 2 0.0 0.0 -15.30 Allegion Pub Ltd Co 14 14 79.560 85.290 1 1 0.0 0.0 7.47 Amerco 3 3 377.910 345.100 1 1 0.0 0.0 -8.55 Asgn Inc 0 28 64.270 81.880 0 2 0.0 0.1 NA Avis Budget Group 30 30 43.880 46.840 1 1 0.0 0.0 6.75 Axon Enterprise Inc 2 2 26.500 39.310 0 0 0.0 0.0 48.34 Boeing Co 98 99 294.910 327.880 29 32 0.7 0.8 11.76 Brady Corporation 7 7 37.900 37.150 0 0 0.0 0.0 -1.45 Briggs & Stratton Co 20 20 25.370 21.410 1 0 0.0 0.0 -15.08 C H Robinson Worldwi 43 44 89.090 93.710 4 4 0.1 0.1 5.73
12 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) CSX Corp 79 53 55.010 55.710 4 3 0.1 0.1 1.69 Caterpillar Inc 112 113 157.580 147.380 18 17 0.4 0.4 -6.04 Chicago Bridge & Iro 35 35 16.140 14.400 1 1 0.0 0.0 -10.78 Comfort Sys Usa Inc 52 52 43.650 41.250 2 2 0.1 0.1 -5.33 Copa Holdings Sa 11 11 134.060 128.630 1 1 0.0 0.0 -3.43 Copart Inc 52 52 43.190 50.930 2 3 0.1 0.1 17.92 Cubic Corp 3 3 58.950 63.600 0 0 0.0 0.0 8.13 Cummins Engine Inc 60 61 176.640 162.090 11 10 0.3 0.2 -7.64 Deere & Co 55 55 156.510 155.320 9 9 0.2 0.2 -0.37 Delta Air Lines Inc 75 76 56.000 54.810 4 4 0.1 0.1 -1.56 Donaldson Inc 49 49 48.950 45.050 2 2 0.1 0.1 -7.61 Eaton Corp Plc 45 46 79.010 79.910 4 4 0.1 0.1 1.94 Echo Global Logistic 7 7 28.000 27.600 0 0 0.0 0.0 -1.43 Emcor Group Inc 38 38 81.750 77.930 3 3 0.1 0.1 -4.58 Emerson Elec Co 50 54 69.690 68.300 3 4 0.1 0.1 -1.33 Enersys 5 5 69.630 69.370 0 0 0.0 0.0 -0.13 Essendant Inc 53 53 9.270 7.800 0 0 0.0 0.0 -14.34 Expeditors Intl Wash 145 156 64.690 63.300 9 10 0.2 0.2 -2.15 Fastenal Co 57 57 54.690 54.590 3 3 0.1 0.1 0.48 Fedex Corp 27 32 249.540 240.110 7 8 0.2 0.2 -3.58 Flowserve Corp 30 30 42.130 43.330 1 1 0.0 0.0 3.77 Fluor Corp 117 105 51.650 57.220 6 6 0.1 0.1 11.19
13 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Franklin Elec Inc 11 11 45.900 40.750 1 0 0.0 0.0 -11.01 General Dynamics Cor 25 25 203.450 220.900 5 6 0.1 0.1 9.02 General Elec Co 1,399 1,407 17.450 13.480 24 19 0.6 0.5 -22.11 Grainger W W Inc 31 29 236.250 282.270 7 8 0.2 0.2 20.05 Greenbrier Cos Inc 7 7 53.300 50.250 0 0 0.0 0.0 -5.30 Hd Supply Hldgs Inc 45 45 40.030 37.940 2 2 0.0 0.0 -5.22 Health Care Group In 7 7 52.720 43.480 0 0 0.0 0.0 -17.21 Heidrick & Struggles 3 0 24.550 31.250 0 0 0.0 0.0 27.91 Hertz Global Holding 59 59 22.100 19.850 1 1 0.0 0.0 -10.18 Hexcel Corp New 35 35 61.850 64.590 2 2 0.1 0.1 4.63 Hni Corp 6 6 38.570 36.090 0 0 0.0 0.0 -5.75 Honeywell Intl Inc 103 103 153.360 144.510 16 15 0.4 0.4 -5.31 Hub Group Inc 20 20 47.900 41.850 1 1 0.0 0.0 -12.63 Huntington Ingalls I 5 5 235.700 257.760 1 1 0.0 0.0 9.66 Icf Intl Inc 0 105 52.500 58.450 0 6 0.0 0.2 NA Ihs Markit Ltd 50 50 45.150 48.240 2 2 0.1 0.1 6.84 Illinois Tool Wks In 25 29 166.850 156.660 4 5 0.1 0.1 -5.63 Ingersoll-Rand Plc 77 78 89.190 85.510 7 7 0.2 0.2 -3.63 Insperity Inc 18 18 57.350 69.550 1 1 0.0 0.0 21.62 Itt Inc 130 119 53.370 48.980 7 6 0.2 0.1 -7.99 Jacobs Engr Group In 120 109 65.960 59.150 8 6 0.2 0.2 -10.11 Jetblue Awys Corp 83 83 22.340 20.320 2 2 0.0 0.0 -9.04
14 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Johnson Ctls Intl Pl 103 104 38.110 35.240 4 4 0.1 0.1 -6.88 Kar Auction Svcs Inc 95 96 50.510 54.200 5 5 0.1 0.1 7.98 Kbr Inc 161 161 19.830 16.190 3 3 0.1 0.1 -17.96 Kelly Svcs Inc 178 180 27.270 29.040 5 5 0.1 0.1 6.76 Kennametal Inc 4 4 48.410 40.160 0 0 0.0 0.0 -16.65 Keyw Hldg Corp 112 112 5.870 7.860 1 1 0.0 0.0 33.90 Kforce Com Inc 34 9 25.250 27.050 1 0 0.0 0.0 7.58 L3 Technologies Inc 6 6 197.850 208.000 1 1 0.0 0.0 5.54 Lennox Intl Inc 7 7 208.260 204.370 1 1 0.0 0.0 -1.62 Lockheed Martin Corp 51 52 321.050 337.930 16 18 0.4 0.4 5.86 Macquarie Infrastruc 25 0 64.200 36.930 2 0 0.0 0.0 -40.33 Manpower Inc 58 58 126.110 115.100 7 7 0.2 0.2 -8.73 Masco Corp 55 55 43.940 40.440 2 2 0.1 0.1 -7.75 Matthews Intl Corp 31 31 52.800 50.600 2 2 0.0 0.0 -3.83 McGrath Rentcorp 22 22 46.980 53.690 1 1 0.0 0.0 14.88 Meritor Inc 14 14 23.460 20.560 0 0 0.0 0.0 -12.36 Miller Herman Inc 56 56 40.050 31.950 2 2 0.1 0.0 -19.83 Mobile Mini 59 59 34.500 43.500 2 3 0.1 0.1 26.83 Navistar Intl Corp N 45 45 42.880 34.970 2 2 0.0 0.0 -18.45 Nielsen Hldgs Plc 55 55 36.400 31.790 2 2 0.0 0.0 -11.77 Norfolk Southern Cor 26 26 144.900 135.780 4 4 0.1 0.1 -5.84 Northrop Corp 37 37 306.910 349.120 11 13 0.3 0.3 14.12
15 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) On Assignment Inc 28 0 64.270 81.880 2 0 0.0 0.0 27.40 Oshkosh Truck Corp 44 45 90.890 77.270 4 3 0.1 0.1 -14.75 Paccar Inc 9 9 71.080 66.170 1 1 0.0 0.0 -6.57 Parker Hannifin Corp 19 19 199.580 171.030 4 3 0.1 0.1 -13.98 Pitney Bowes Inc 65 65 11.180 10.890 1 1 0.0 0.0 -1.11 Plug Power Inc 127 127 2.360 1.890 0 0 0.0 0.0 -19.92 Quanta Svcs Inc 66 66 39.110 34.350 3 2 0.1 0.1 -12.17 Raytheon Co 70 70 187.850 215.820 13 15 0.3 0.4 15.38 Resources Connection 26 26 15.450 16.200 0 0 0.0 0.0 5.68 Robert Half Intl Inc 38 38 55.540 57.890 2 2 0.1 0.1 4.74 Rockwell Automation 30 30 196.350 174.200 6 5 0.1 0.1 -10.88 Rockwell Collins Inc 73 68 135.620 134.850 10 9 0.2 0.2 -0.32 Roper Inds Inc New 14 14 259.000 280.690 4 4 0.1 0.1 8.54 Ryder Sys Inc 19 19 84.170 72.790 2 1 0.0 0.0 -12.93 Scorpio Bulkers Inc 33 33 7.400 7.050 0 0 0.0 0.0 -4.49 Snap On Tools Corp 15 15 174.300 147.540 3 2 0.1 0.1 -14.90 Southwest Airls Co 66 27 65.450 57.280 4 2 0.1 0.0 -12.30 Spirit Aerosystems H 21 21 87.250 83.700 2 2 0.0 0.0 -3.96 Stanley Black & Deck 8 8 169.690 153.200 1 1 0.0 0.0 -9.36 Steelcase Inc 17 17 15.200 13.600 0 0 0.0 0.0 -9.64 Sunrun Inc 55 55 5.900 8.930 0 0 0.0 0.0 51.36 Team Inc 18 18 14.900 13.750 0 0 0.0 0.0 -7.72
16 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Terex Corp New 7 7 48.220 37.410 0 0 0.0 0.0 -22.22 Tetra Tech Inc New 55 55 48.150 48.950 3 3 0.1 0.1 1.88 Transdigm Group Inc 4 4 274.620 306.940 1 1 0.0 0.0 11.77 Trinet Group Inc 98 100 44.340 46.320 4 5 0.1 0.1 4.47 Trueblue Inc 56 56 27.500 25.900 2 1 0.0 0.0 -5.82 Union Pac Corp 80 92 134.100 134.430 11 12 0.3 0.3 0.79 United Parcel Servic 91 96 119.150 104.660 11 10 0.3 0.2 -11.41 United Rentals Inc 3 3 171.910 172.730 1 1 0.0 0.0 0.48 United States Treas 0 708 NA NA 0 0 0.0 0.0 NA United Technologies 127 128 127.570 125.820 16 16 0.4 0.4 -0.84 Verisk Analytics Inc 6 6 96.000 104.000 1 1 0.0 0.0 8.33 Wabash Natl Corp 3 3 21.700 20.810 0 0 0.0 0.0 -3.76 Wabco Hldgs Inc 1 1 143.500 133.870 0 0 0.0 0.0 -6.71 Wabtec Corp 21 21 81.430 81.400 2 2 0.0 0.0 0.13 Wageworks Inc 5 0 62.000 45.200 0 0 0.0 0.0 -27.10 Waste Mgmt Inc Del 20 20 86.300 84.120 2 2 0.0 0.0 -1.99 Welbilt Inc 7 7 23.510 19.450 0 0 0.0 0.0 -17.27 Wesco Aircraft Hldgs 153 153 7.400 10.250 1 2 0.0 0.0 38.51 Wesco Intl Inc 35 35 68.150 62.050 2 2 0.1 0.1 -8.95 Woodward Governor Co 15 15 76.540 71.660 1 1 0.0 0.0 -6.20 Xylem Inc 134 124 68.200 76.920 9 10 0.2 0.2 13.11 Yrc Worldwide Inc 4 4 14.380 8.830 0 0 0.0 0.0 -38.60
17 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) 459 454 11.3 11.2 -1.41 Consumer Discretionary Aaron Rents Inc 36 36 39.850 46.600 1 2 0.0 0.0 17.01 Advance Auto Parts 3 3 99.690 118.550 0 0 0.0 0.0 18.98 Amazon Com Inc 58 59 1169.470 1447.340 68 85 1.7 2.1 23.76 American Eagle Outfi 118 118 18.800 19.930 2 2 0.1 0.1 6.01 Aptiv Plc 35 24 84.830 84.970 3 2 0.1 0.1 0.40 Aramark Hldgs Corp 44 44 42.740 39.560 2 2 0.0 0.0 -7.20 Asbury Automotive Gr 4 4 64.000 67.500 0 0 0.0 0.0 5.47 At Home Group Inc 6 6 30.390 32.040 0 0 0.0 0.0 5.43 Beazer Homes Usa Inc 31 31 19.210 15.950 1 0 0.0 0.0 -16.97 Best Buy Inc 92 106 68.470 69.990 6 7 0.2 0.2 2.89 Booking Hldgs Inc 0 7 1737.740 2080.390 0 15 0.0 0.4 NA Boyd Gaming Corp 10 10 35.050 31.860 0 0 0.0 0.0 -8.96 Brinker Intl Inc 19 19 38.840 36.100 1 1 0.0 0.0 -6.08 Cable One Inc 1 1 703.350 687.110 1 1 0.0 0.0 -2.06 Caesars Entmt Corp 49 49 12.650 11.250 1 1 0.0 0.0 -11.07 Calatlantic Group In 29 0 56.390 NA 2 0 0.0 0.0 NA Camping World Hldgs 7 7 44.730 32.250 0 0 0.0 0.0 -27.60 Carmax Inc 25 25 64.130 61.940 2 2 0.0 0.0 -3.41 Carnival Corp 3 0 66.370 65.580 0 0 0.0 0.0 -0.54 Cbs Corp 41 35 59.000 51.390 2 2 0.1 0.0 -12.60
18 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Central European Med 0 614 4.650 4.200 0 3 0.0 0.1 NA Century Cmntys Inc 49 49 31.100 29.950 2 1 0.0 0.0 -3.70 Charter Communicatio 25 19 335.960 311.220 8 6 0.2 0.1 -7.36 Cinemark Holdings In 96 98 34.820 37.670 3 4 0.1 0.1 9.02 Clear Channel Outdoo 112 112 4.600 4.900 1 1 0.0 0.0 8.37 Columbia Sportswear 32 32 71.880 76.430 2 2 0.1 0.1 6.64 Comcast Corp New 696 688 40.050 34.170 28 24 0.7 0.6 -14.35 Conns Inc 4 4 35.550 34.000 0 0 0.0 0.0 -4.36 D R Horton Inc 17 17 51.070 43.840 1 1 0.0 0.0 -13.91 Dave & Busters Entmt 11 11 55.170 41.740 1 0 0.0 0.0 -24.34 Deckers Outdoor Corp 23 23 80.250 90.030 2 2 0.0 0.1 12.19 Delphi Technologies 12 12 52.470 47.650 1 1 0.0 0.0 -8.89 Dineequity Inc 9 9 50.730 65.580 0 1 0.0 0.0 30.51 Discovery Communicat 117 117 22.380 21.430 3 3 0.1 0.1 -4.24 Dish Network Corp 33 0 47.750 37.890 2 0 0.0 0.0 -20.65 Disney Walt Prodtns 232 234 107.510 100.440 25 24 0.6 0.6 -6.58 Dollar Tree Inc 1 0 107.310 94.900 0 0 0.0 0.0 -11.56 Drive Shack Inc 1,120 255 5.530 4.780 6 1 0.2 0.0 -13.56 Dunkin Brands Group 115 108 64.470 59.690 7 6 0.2 0.2 -6.88 El Pollo Loco Hldgs 124 124 9.900 9.500 1 1 0.0 0.0 -4.04 Empire Resorts Inc 29 29 27.000 17.250 1 1 0.0 0.0 -36.11 Entravision Communic 109 108 7.150 4.700 1 1 0.0 0.0 -33.63
19 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Foot Locker Inc 23 23 46.880 45.540 1 1 0.0 0.0 -2.24 Ford Mtr Co Del 389 395 12.490 11.080 5 4 0.1 0.1 -9.06 Fossil Group Inc 11 11 7.770 12.700 0 0 0.0 0.0 63.45 Gamestop Corp New 82 82 17.950 12.620 1 1 0.0 0.0 -28.02 Gannett Spinco Inc 100 100 11.590 9.980 1 1 0.0 0.0 -12.51 Gap Inc 136 137 34.060 31.200 5 4 0.1 0.1 -7.77 General Motors Corp. 142 143 40.990 36.340 6 5 0.1 0.1 -10.45 Gnc Hldgs Inc 45 45 3.690 3.860 0 0 0.0 0.0 4.61 Gray Television Inc 59 59 16.750 12.700 1 1 0.0 0.0 -24.18 Green Brick Partners 101 101 11.300 10.900 1 1 0.0 0.0 -3.54 Groupon Inc 141 141 5.100 4.340 1 1 0.0 0.0 -14.90 Hasbro Bradley Inc 62 81 90.890 84.300 6 7 0.1 0.2 -6.69 Helen of Troy Corp L 17 17 96.350 87.000 2 1 0.0 0.0 -9.70 Hibbett Sports Inc 8 8 20.400 23.950 0 0 0.0 0.0 17.40 Hilton Worldwide Hld 0 9 79.860 78.760 0 1 0.0 0.0 NA Home Depot Inc 171 172 189.530 178.240 32 31 0.8 0.8 -5.41 Hovnanian Enterprise 274 274 3.350 1.830 1 1 0.0 0.0 -45.37 Hyatt Hotels Corp 20 20 73.540 76.260 1 2 0.0 0.0 3.89 Imax Corp 62 62 23.150 19.200 1 1 0.0 0.0 -17.06 Inspired Entmt Inc 13 13 9.800 5.500 0 0 0.0 0.0 -43.88 International Game T 86 86 26.510 26.730 2 2 0.1 0.1 1.53 Interpublic Group Co 102 102 20.160 23.030 2 2 0.1 0.1 15.26
20 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Irobot Corp 15 15 76.700 64.190 1 1 0.0 0.0 -16.31 Jack In the Box Inc 7 7 98.110 85.330 1 1 0.0 0.0 -12.65 Kb Home 62 62 31.950 28.450 2 2 0.0 0.0 -10.88 Lands End Inc New 56 56 19.550 23.350 1 1 0.0 0.0 19.44 Las Vegas Sands Corp 39 39 69.490 71.900 3 3 0.1 0.1 4.53 Lennar Corp 12 12 51.680 47.690 1 1 0.0 0.0 -7.65 Lennar Corp- Cl A 17 42 63.240 58.940 1 2 0.0 0.1 -6.75 Lgi Homes Inc 26 26 75.030 70.570 2 2 0.0 0.0 -5.94 Libbey Inc 12 12 7.520 4.890 0 0 0.0 0.0 -33.83 Liberty Broadband Co 26 26 85.050 84.800 2 2 0.1 0.1 -0.29 Liberty Media Corp D 7 7 32.720 29.290 0 0 0.0 0.0 -10.48 Liberty Siriusxm Grp 18 18 39.660 41.100 1 1 0.0 0.0 3.63 Lithia Mtrs Inc 6 6 113.590 100.520 1 1 0.0 0.0 -11.28 Lkq Corp 106 108 40.670 37.950 4 4 0.1 0.1 -6.69 Lowes Cos Inc 118 119 92.940 87.750 11 10 0.3 0.3 -5.22 Lululemon Athletica 27 27 78.590 89.120 2 2 0.1 0.1 13.40 M D C Corp Colo 27 27 31.880 27.920 1 1 0.0 0.0 -11.56 MGM Grand Inc 76 76 33.390 35.020 3 3 0.1 0.1 5.23 Macys Inc. 14 14 25.190 29.740 0 0 0.0 0.0 19.59 Marriott Intl Inc Ne 26 32 135.730 135.980 4 4 0.1 0.1 0.42 Mattel Inc 89 89 15.380 13.150 1 1 0.0 0.0 -14.50 McDonalds Corp 112 113 172.120 156.380 19 18 0.5 0.4 -8.56
21 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Michaels Cos Inc 29 29 24.190 19.710 1 1 0.0 0.0 -18.52 Modine Mfg Co 67 67 20.200 21.150 1 1 0.0 0.0 4.70 Mohawk Inds Inc 3 3 275.900 232.220 1 1 0.0 0.0 -15.83 Movado Group Inc 46 46 32.200 38.400 1 2 0.0 0.0 19.25 Msg Network Inc 7 7 20.250 22.600 0 0 0.0 0.0 11.61 Murphy Usa Inc 5 5 80.360 72.800 0 0 0.0 0.0 -9.41 National Cinemedia I 176 176 6.860 5.190 1 1 0.0 0.0 -22.03 Netflix Com Inc 59 60 191.960 295.350 11 18 0.3 0.4 53.86 New York Times Co 76 76 18.500 24.100 1 2 0.0 0.0 30.54 Newell Rubbermaid In 83 82 30.900 25.480 3 2 0.1 0.1 -16.84 Nexstar Broadcasting 8 8 78.200 66.500 1 1 0.0 0.0 -14.53 Nike Inc 267 300 62.550 66.440 17 20 0.4 0.5 6.54 Nordstrom Inc 51 51 47.380 48.410 2 2 0.1 0.1 2.89 Nutri Sys Inc New 7 7 52.600 26.950 0 0 0.0 0.0 -48.37 Office Depot Inc 115 115 3.540 2.150 0 0 0.0 0.0 -38.64 Omnicom Group 33 33 72.830 72.670 2 2 0.1 0.1 0.59 Penn Natl Gaming Inc 74 74 31.330 26.260 2 2 0.1 0.0 -16.18 Pool Corporation 9 9 129.650 146.220 1 1 0.0 0.0 13.07 Priceline Group Inc 7 0 1737.740 2080.390 12 0 0.3 0.0 19.72 Pvh Corp 23 23 137.210 151.430 3 3 0.1 0.1 10.39 Red Robin Gourmet Bu 3 3 56.400 58.000 0 0 0.0 0.0 2.84 Rent A Ctr Inc New 23 23 11.100 8.630 0 0 0.0 0.0 -22.25
22 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Rh 3 3 86.210 95.280 0 0 0.0 0.0 10.52 Ross Stores Inc 18 18 80.250 77.980 1 1 0.0 0.0 -2.54 Sally Beauty Hldgs I 49 49 18.760 16.450 1 1 0.0 0.0 -12.31 Scientific Games Cor 17 17 51.300 41.600 1 1 0.0 0.0 -18.91 Scripps Networks Int 53 0 85.380 90.040 5 0 0.1 0.0 5.81 Servicemaster Global 76 85 51.270 50.850 4 4 0.1 0.1 -0.82 Shake Shack Inc 33 33 43.200 41.630 1 1 0.0 0.0 -3.63 Shutterfly Inc 6 6 49.750 81.250 0 0 0.0 0.0 63.32 Signet Jewelers Limi 30 30 56.550 38.520 2 1 0.0 0.0 -31.48 Sinclair Broadcast G 13 13 37.850 31.300 0 0 0.0 0.0 -16.86 Sirius Xm Hldgs Inc 395 395 5.360 6.240 2 2 0.1 0.1 16.63 Six Flags Entmt Corp 12 12 66.570 62.260 1 1 0.0 0.0 -5.41 Sleep Number Corp 11 11 37.590 35.150 0 0 0.0 0.0 -6.49 Sothebys Hldgs Inc 29 29 51.600 51.310 1 1 0.0 0.0 -0.56 Starbucks Corp 177 179 57.430 57.890 10 10 0.3 0.3 1.36 TJX Cos Inc New 57 61 76.460 81.560 4 5 0.1 0.1 7.11 Tailored Brands Inc 23 23 21.830 25.060 1 1 0.0 0.0 15.75 Tapestry Inc 29 29 44.230 52.610 1 2 0.0 0.0 19.72 Target Corp 77 78 65.250 69.430 5 5 0.1 0.1 7.31 Tempur Pedic Intl In 12 12 62.690 45.290 1 1 0.0 0.0 -27.76 Tenneco Automotive I 14 14 58.540 54.870 1 1 0.0 0.0 -5.84 Tesla Mtrs Inc 28 40 311.350 266.130 9 11 0.2 0.3 -14.52
23 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Tiffany & Co New 73 78 103.950 97.660 8 8 0.2 0.2 -5.57 Tile Shop Hldgs Inc 33 33 9.600 6.000 0 0 0.0 0.0 -36.93 Time Warner Inc 190 203 91.470 94.580 17 19 0.4 0.5 3.85 Toll Brothers Inc 38 38 48.020 43.250 2 2 0.0 0.0 -9.79 Tractor Supply Co 38 38 74.750 63.020 3 2 0.1 0.1 -15.35 Tribune Co New 42 42 42.470 40.510 2 2 0.0 0.0 -4.04 Tripadvisor Inc 2 2 34.460 40.890 0 0 0.0 0.0 18.66 Twenty First Centy F 217 218 34.120 36.370 7 8 0.2 0.2 7.12 Ulta Salon Cosmetcs 1 1 223.660 204.270 0 0 0.0 0.0 -8.67 Under Armour Inc 73 73 14.430 16.350 1 1 0.0 0.0 13.31 V F Corp 63 63 74.000 74.120 5 5 0.1 0.1 0.80 Vail Resorts Inc 8 8 212.470 221.700 2 2 0.0 0.0 5.02 Viacom Inc New -A 49 49 34.900 39.600 2 2 0.0 0.0 14.05 Vista Outdoor Inc 18 18 14.570 16.320 0 0 0.0 0.0 12.01 Visteon Corp 26 26 125.140 110.240 3 3 0.1 0.1 -11.91 Wayfair Inc 13 13 80.270 67.530 1 1 0.0 0.0 -15.87 Wendys Co 119 119 16.420 17.550 2 2 0.0 0.1 7.45 Whirlpool Corp 5 5 168.640 153.110 1 1 0.0 0.0 -8.59 Wiley John & Sons In 36 36 65.750 63.700 2 2 0.1 0.1 -3.12 Williams Sonoma Inc 43 43 51.700 52.760 2 2 0.1 0.1 2.79 Wolverine World Wide 48 48 31.880 28.900 2 1 0.0 0.0 -9.10 Wynn Resorts Ltd 8 8 168.590 182.360 1 1 0.0 0.0 8.50
24 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Yum Brands Inc 20 16 81.610 85.130 2 1 0.0 0.0 4.80 Yum China Hldgs Inc 2 2 40.020 41.500 0 0 0.0 0.0 3.94 498 508 12.3 12.6 1.73 Consumer Staples Altria Group Inc 294 296 71.410 62.320 21 18 0.5 0.5 -11.77 Archer Daniels Midla 24 16 40.080 43.370 1 1 0.0 0.0 9.05 Bunge Limited 67 67 67.080 73.940 4 5 0.1 0.1 10.88 Campbell Soup Co 50 50 48.110 43.310 2 2 0.1 0.1 -9.31 Caseys Gen Stores 2 2 111.940 109.770 0 0 0.0 0.0 -1.73 Chefs Whse Inc 4 4 20.500 23.000 0 0 0.0 0.0 12.20 Clorox Co 49 50 148.740 133.110 7 7 0.2 0.2 -9.98 Coca Cola Co 617 622 45.880 43.430 28 27 0.7 0.7 -4.50 Colgate Palmolive Co 155 156 75.450 71.680 12 11 0.3 0.3 -4.51 Constellation Brands 16 16 228.570 227.920 4 4 0.1 0.1 -0.04 Costco Whsl Corp New 53 53 186.120 188.430 10 10 0.2 0.2 1.51 Coty Inc 33 33 19.890 18.300 1 1 0.0 0.0 -7.41 Cvs Corp 161 162 72.500 62.210 12 10 0.3 0.2 -13.66 Dr Pepper Snapple Gr 3 3 97.060 118.380 0 0 0.0 0.0 22.56 Estee Lauder Co. Inc 81 91 127.240 149.720 10 14 0.3 0.3 17.99 General Mls Inc 140 141 59.290 45.060 8 6 0.2 0.2 -23.37 Hain Celestial Group 43 43 42.390 32.070 2 1 0.0 0.0 -24.35 Herbalife Ltd 15 15 67.720 97.470 1 1 0.0 0.0 43.93
25 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Staples (cont.) Hershey Foods Corp 14 14 113.510 98.960 2 1 0.0 0.0 -12.23 Kellogg Co 103 104 67.980 65.010 7 7 0.2 0.2 -3.61 Kimberly Clark Corp 35 38 120.660 110.130 4 4 0.1 0.1 -7.91 Kraft Heinz Co 56 57 77.760 62.290 4 4 0.1 0.1 -19.15 Kroger Co 130 132 27.450 23.940 4 3 0.1 0.1 -12.40 McCormick & Co Inc 59 60 101.910 106.390 6 6 0.1 0.2 4.40 Molson Coors Brewing 36 36 82.070 75.330 3 3 0.1 0.1 -7.73 Mondelez Intl Inc 203 204 42.800 41.730 9 9 0.2 0.2 -1.97 Natural Grocers By V 58 58 8.930 7.160 1 0 0.0 0.0 -19.82 Pepsico Inc 261 263 119.920 109.150 31 29 0.8 0.7 -8.30 Performance Food Gro 116 118 33.100 29.850 4 4 0.1 0.1 -9.82 Philip Morris Intl I 211 215 105.650 99.400 22 21 0.5 0.5 -4.89 Pricesmart Inc 5 5 86.100 83.550 0 0 0.0 0.0 -2.53 Procter & Gamble Co 414 418 91.880 79.280 38 33 0.9 0.8 -13.05 Rite Aid Corp 81 0 1.970 1.680 0 0 0.0 0.0 -14.72 Smucker J M Co 19 19 124.240 124.010 2 2 0.1 0.1 0.47 Spartannash Co 59 59 26.680 17.210 2 1 0.0 0.0 -34.85 Sysco Corp 84 84 60.730 59.960 5 5 0.1 0.1 -0.68 US Foods Hldg Corp 11 11 31.930 32.770 0 0 0.0 0.0 2.63 United Nat Foods Inc 93 136 49.270 42.940 5 6 0.1 0.1 -12.85 Universal Corp 23 23 52.500 48.500 1 1 0.0 0.0 -6.64 Vector Group Ltd 52 52 22.380 20.390 1 1 0.0 0.0 -7.07
26 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Staples (cont.) Wal Mart Stores Inc 208 209 98.750 88.970 21 19 0.5 0.5 -9.37 Walgreens Boots Alli 130 131 72.620 65.470 9 9 0.2 0.2 -9.32 Weis Mkts Inc 12 12 41.390 40.980 0 0 0.0 0.0 -0.22 306 288 7.5 7.1 -7.07 Health Care Abbott Labs 251 247 57.070 59.920 14 15 0.4 0.4 5.49 Abbvie Inc 216 218 96.710 94.650 21 21 0.5 0.5 -1.43 Abiomed Inc 10 10 187.410 290.990 2 3 0.0 0.1 55.27 Acadia Pharmaceutica 15 15 30.110 22.470 0 0 0.0 0.0 -25.37 Aclaris Therapeutics 25 161 24.660 17.520 1 3 0.0 0.1 -28.95 Aduro Biotech Inc 38 38 7.500 9.300 0 0 0.0 0.0 24.00 Advaxis Inc 13 13 2.840 1.690 0 0 0.0 0.0 -40.49 Aetna Inc 61 62 180.390 169.000 11 10 0.3 0.3 -6.06 Agilent Technologies 140 141 66.970 66.900 9 9 0.2 0.2 -0.10 Agios Pharmaceutical 3 3 57.170 81.780 0 0 0.0 0.0 43.05 Alder Biopharmaceuti 14 14 11.450 12.700 0 0 0.0 0.0 10.92 Alexion Pharmaceutic 17 5 119.590 111.460 2 1 0.1 0.0 -6.80 Align Technology Inc 19 19 222.190 251.130 4 5 0.1 0.1 13.02 Alkermes Plc 13 13 54.730 57.960 1 1 0.0 0.0 5.90 Allergan Plc 44 45 163.580 168.290 7 8 0.2 0.2 3.34 Allscripts Healthcar 112 112 14.550 12.350 2 1 0.0 0.0 -15.12 Amerisourcebergen Co 82 83 91.820 86.210 8 7 0.2 0.2 -5.75
27 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Amgen 106 106 173.900 170.480 18 18 0.5 0.4 -1.25 Amicus Therapeutics 48 48 14.390 15.040 1 1 0.0 0.0 4.52 Amn Healthcare Servi 93 94 49.250 56.750 5 5 0.1 0.1 15.23 Anthem Inc 57 57 225.010 219.700 13 13 0.3 0.3 -2.04 Atara Biotherapeutic 9 9 18.100 39.000 0 0 0.0 0.0 115.47 Athenahealth Inc 7 7 133.040 143.030 1 1 0.0 0.0 7.51 Atricure Inc 47 47 18.240 20.520 1 1 0.0 0.0 12.50 Avexis Inc 9 9 110.670 123.580 1 1 0.0 0.0 11.67 Bard C R Inc 6 0 331.240 NA 2 0 0.0 0.0 NA Baxter Intl Inc 73 73 64.640 65.040 5 5 0.1 0.1 0.86 Becton Dickinson 33 38 214.060 216.700 7 8 0.2 0.2 1.57 Bellicum Pharmaceuti 33 33 8.410 6.560 0 0 0.0 0.0 -22.00 Biocryst Pharmaceu 59 59 4.910 4.770 0 0 0.0 0.0 -2.85 Biogen Idec Inc 39 40 318.570 273.820 12 11 0.3 0.3 -14.05 Biohaven Pharmactl H 3 3 26.980 25.760 0 0 0.0 0.0 -4.52 Biomarin Pharmaceuti 21 21 89.170 81.070 2 2 0.0 0.0 -9.08 Bioverativ Inc 25 0 53.920 104.980 1 0 0.0 0.0 94.70 Bluebird Bio Inc 11 11 178.100 170.750 2 2 0.0 0.0 -4.13 Blueprint Medicines 8 8 75.410 91.700 1 1 0.0 0.0 21.60 Boston Scientific Co 200 202 24.790 27.320 5 6 0.1 0.1 10.21 Bristol Myers Squibb 252 253 61.280 63.250 15 16 0.4 0.4 3.88 Bruker Biosciences C 51 51 34.320 29.920 2 2 0.0 0.0 -12.70
28 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Calithera Bioscience 3 3 8.350 6.300 0 0 0.0 0.0 -24.55 Cardinal Health Inc 147 148 61.270 62.680 9 9 0.2 0.2 3.06 Cardiovascular Sys I 29 29 23.690 21.930 1 1 0.0 0.0 -7.43 Catalent Inc 8 8 41.080 41.060 0 0 0.0 0.0 -0.05 Celgene Corp 139 140 104.360 89.210 15 12 0.4 0.3 -14.52 Centene Corp Del 33 14 100.880 106.870 3 1 0.1 0.0 5.94 Cerner Corp 22 22 67.390 58.000 1 1 0.0 0.0 -13.93 Cerus Corp 121 121 3.380 5.480 0 1 0.0 0.0 62.13 Chimerix Inc 99 99 4.630 5.200 0 1 0.0 0.0 12.31 Cigna Corp 60 60 203.090 167.740 12 10 0.3 0.2 -17.39 Clovis Oncology Inc 8 8 68.000 52.800 1 0 0.0 0.0 -22.35 Coherus Biosciences 31 31 8.800 11.050 0 0 0.0 0.0 25.57 Collegium Pharmaceut 18 9 18.460 25.550 0 0 0.0 0.0 38.41 Cooper Cos Inc 4 4 217.880 228.810 1 1 0.0 0.0 5.03 Corvel Corp 41 40 52.900 50.550 2 2 0.1 0.1 -4.44 Danaher Corp 71 71 92.820 97.910 7 7 0.2 0.2 5.66 Dentsply Sirona Inc 3 0 65.830 50.310 0 0 0.0 0.0 -23.44 Depomed Inc 19 19 8.050 6.590 0 0 0.0 0.0 -18.14 Dexcom Inc 2 2 57.390 74.160 0 0 0.0 0.0 29.22 Eagle Pharmaceutical 8 8 53.420 52.690 0 0 0.0 0.0 -1.37 Edwards Lifesciences 50 50 112.710 139.520 6 7 0.1 0.2 23.79 Eli Lilly & Co 125 126 84.460 77.370 11 10 0.3 0.2 -7.73
29 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Endo Intl Plc 18 0 7.750 5.940 0 0 0.0 0.0 -23.35 Epizyme Inc 6 6 12.550 17.750 0 0 0.0 0.0 41.43 Esperion Therapeutic 13 13 65.840 72.330 1 1 0.0 0.0 9.86 Exact Sciences Corp 4 0 52.540 40.330 0 0 0.0 0.0 -23.24 Exelixis Inc 7 0 30.400 22.150 0 0 0.0 0.0 -27.14 Express Scripts Hldg 144 145 74.640 69.080 11 10 0.3 0.2 -7.45 Fibrogen Inc 2 2 47.400 46.200 0 0 0.0 0.0 -2.53 Flexion Therapeutics 26 26 25.040 22.410 1 1 0.0 0.0 -10.50 Foundation Medicine 1 1 68.200 78.750 0 0 0.0 0.0 15.47 Genmark Diagnostics 55 55 4.170 5.440 0 0 0.0 0.0 30.46 Gilead Sciences Inc 221 222 71.640 75.390 16 17 0.4 0.4 5.99 Global Blood Therape 12 12 39.350 48.300 0 1 0.0 0.0 22.74 Haemonetics Corp 2 2 58.080 73.160 0 0 0.0 0.0 25.96 Halozyme Therapeutic 60 60 20.260 19.590 1 1 0.0 0.0 -3.31 Halyard Health Inc 8 8 46.180 46.080 0 0 0.0 0.0 -0.22 Hca Holdings Inc 16 12 87.840 97.000 1 1 0.0 0.0 10.82 Healthequity Inc 30 30 46.660 60.540 1 2 0.0 0.0 29.75 Hms Hldgs Corp 9 9 16.950 16.840 0 0 0.0 0.0 -0.65 Hologic Inc 16 16 42.750 37.360 1 1 0.0 0.0 -12.61 Humana Inc 34 34 248.070 268.830 8 9 0.2 0.2 8.57 Idexx Labs Inc 9 9 156.380 191.390 1 2 0.0 0.0 22.39 Illumina Inc 17 17 218.490 236.420 4 4 0.1 0.1 8.21
30 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Immunomedics Inc 23 23 16.160 14.610 0 0 0.0 0.0 -9.59 Incyte Pharmaceutica 17 0 94.710 83.330 2 0 0.0 0.0 -12.02 Inovalon Hldgs Inc 8 8 15.000 10.600 0 0 0.0 0.0 -29.33 Insmed Inc 19 19 31.180 22.520 1 0 0.0 0.0 -27.77 Integer Hldgs Corp 7 7 45.300 56.550 0 0 0.0 0.0 24.83 Intersect Ent Inc 20 20 32.400 39.300 1 1 0.0 0.0 21.30 Intuitive Surgical I 7 7 364.940 412.830 3 3 0.1 0.1 13.12 Ionis Pharmaceutical 17 17 50.300 44.080 1 1 0.0 0.0 -12.37 Iovance Biotherapeut 52 52 8.000 16.900 0 1 0.0 0.0 111.25 Iqvia Hldgs Inc 37 38 97.900 98.110 4 4 0.1 0.1 0.21 Ironwood Pharmaceuti 34 33 14.990 15.430 1 1 0.0 0.0 2.94 Johnson & Johnson 381 384 139.720 128.150 53 49 1.3 1.2 -7.70 Juno Therapeutics In 3 0 45.710 0.010 0 0 0.0 0.0 89.83 Loxo Oncology Inc 7 7 84.180 115.370 1 1 0.0 0.0 37.05 McKesson Hboc Inc 40 32 155.950 140.870 6 5 0.2 0.1 -9.46 Medidata Solutions I 32 32 63.370 62.810 2 2 0.0 0.0 -0.88 Medtronic Plc 203 205 80.750 80.220 16 16 0.4 0.4 -0.07 Merck & Co Inc New 396 400 56.270 54.470 22 22 0.5 0.5 -2.35 Merit Med Sys Inc 13 13 43.200 45.350 1 1 0.0 0.0 4.98 Merrimack Pharmaceut 23 23 10.250 8.050 0 0 0.0 0.0 -21.46 Mettler Toledo Inter 7 7 619.520 575.030 4 4 0.1 0.1 -7.18 Mimedx Group Inc 51 51 12.610 6.970 1 0 0.0 0.0 -44.73
31 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Minerva Neuroscience 11 11 6.050 6.250 0 0 0.0 0.0 3.31 Molina Healthcare In 8 0 76.680 81.180 1 0 0.0 0.0 5.87 Mylan N V 6 0 42.310 41.170 0 0 0.0 0.0 -2.69 Natera Inc 5 5 8.990 9.270 0 0 0.0 0.0 3.11 Nektar Therapeutics 18 0 59.720 106.260 1 0 0.0 0.0 77.93 Neogenomics Inc 47 47 8.860 8.160 0 0 0.0 0.0 -7.90 Novocure Ltd 8 8 20.200 21.800 0 0 0.0 0.0 7.92 Opko Health Inc 161 161 4.900 3.170 1 1 0.0 0.0 -35.31 Organovo Hldgs Inc 101 101 1.340 1.030 0 0 0.0 0.0 -23.13 Penumbra Inc 12 12 94.100 115.650 1 1 0.0 0.0 22.90 Perkinelmer Inc 28 28 73.120 75.720 2 2 0.1 0.1 3.65 Perrigo Co Pcl 2 0 87.160 83.340 0 0 0.0 0.0 -4.15 Pfizer Inc 809 816 36.220 35.490 29 29 0.7 0.7 -1.11 Pra Health Sciences 28 28 91.070 82.960 3 2 0.1 0.1 -8.91 Progenics Pharmaceut 13 13 5.950 7.460 0 0 0.0 0.0 25.38 Prothena Corp Plc 16 16 37.490 36.710 1 1 0.0 0.0 -2.08 Ptc Therapeutics Inc 4 0 16.680 27.060 0 0 0.0 0.0 62.23 Puma Biotechnology I 3 3 98.850 68.050 0 0 0.0 0.0 -31.16 Qiagen Nv 20 20 30.930 32.310 1 1 0.0 0.0 4.46 Quest Diagnostics In 11 8 98.490 100.300 1 1 0.0 0.0 2.30 Radius Health Inc 6 6 31.770 35.940 0 0 0.0 0.0 13.13 Regeneron Pharmaceut 9 6 375.960 344.360 3 2 0.1 0.1 -8.41
32 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Repligen Corp 19 19 36.280 36.180 1 1 0.0 0.0 -0.28 Resmed Inc 45 46 84.690 98.470 4 5 0.1 0.1 16.71 Revance Therapeutics 26 26 35.750 30.800 1 1 0.0 0.0 -13.85 Sage Therapeutics In 9 9 164.710 161.070 1 1 0.0 0.0 -2.21 Sarepta Therapeutics 8 8 55.640 74.090 0 1 0.0 0.0 33.16 Schein Henry Inc 13 2 69.880 67.210 1 0 0.0 0.0 -3.82 Spark Therapeutics I 45 45 51.420 66.590 2 3 0.1 0.1 29.50 Stryker Corp 42 45 154.840 160.920 7 7 0.2 0.2 4.24 Sucampo Pharmaceutic 71 0 17.950 NA 1 0 0.0 0.0 NA Synergy Pharmaceutic 37 37 2.230 1.830 0 0 0.0 0.0 -17.94 Teladoc Inc 3 3 34.850 40.300 0 0 0.0 0.0 15.64 Tesaro Inc 11 11 82.870 57.140 1 1 0.0 0.0 -31.05 Theravance Biopharma 18 18 27.890 24.250 1 0 0.0 0.0 -13.05 Thermo Fisher Scient 58 58 189.880 206.460 11 12 0.3 0.3 8.82 Tivity Health Inc 2 0 36.550 39.650 0 0 0.0 0.0 8.48 Ultragenyx Pharmaceu 19 19 46.380 50.990 1 1 0.0 0.0 9.94 Unitedhealth Group I 140 142 220.460 214.000 31 30 0.8 0.8 -2.61 Varian Med Sys Inc 14 14 111.150 122.650 2 2 0.0 0.0 10.35 Veeva Sys Inc 6 6 55.280 73.020 0 0 0.0 0.0 32.09 Versartis Inc 43 43 2.200 1.650 0 0 0.0 0.0 -25.00 Vertex Pharmaceutica 43 43 149.860 162.980 6 7 0.2 0.2 8.75 Vocera Communication 26 26 30.220 23.420 1 1 0.0 0.0 -22.50
33 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Waters Corp 25 25 193.190 198.650 5 5 0.1 0.1 2.83 West Pharmaceutical 11 11 98.670 88.290 1 1 0.0 0.0 -10.39 Zimmer Hldgs Inc 29 30 120.670 109.040 3 3 0.1 0.1 -9.44 Zoetis Inc 76 77 72.040 83.510 5 6 0.1 0.2 16.11 546 531 13.4 13.1 -0.23 Financials Aflac Inc 210 212 87.780 43.760 18 9 0.5 0.2 0.29 Allstate Corp 26 26 104.710 94.800 3 2 0.1 0.1 -9.01 Ally Finl Inc 182 183 29.160 27.150 5 5 0.1 0.1 -6.49 American Express Co 141 142 99.310 93.280 14 13 0.3 0.3 -5.75 American Intl Group 222 238 59.580 54.420 13 13 0.3 0.3 -8.13 Ameriprise Finl Inc 22 23 169.470 147.940 4 3 0.1 0.1 -12.25 Ameris Bancorp 12 12 48.200 52.900 1 1 0.0 0.0 9.96 Aon Plc 32 32 134.000 140.330 4 4 0.1 0.1 4.99 Apollo Coml Real Est 98 98 18.450 17.980 2 2 0.0 0.0 -0.03 Arch Cap Group Ltd 5 5 90.770 85.590 0 0 0.0 0.0 -5.71 Aspen Insurance Hold 35 35 40.600 44.850 1 2 0.0 0.0 11.19 Associated Banc Corp 130 130 25.400 24.850 3 3 0.1 0.1 -1.57 Axis Capital Holding 3 3 50.260 57.570 0 0 0.0 0.0 15.32 Bancfirst Corp 55 55 51.150 53.100 3 3 0.1 0.1 4.22 Banco Latinoamerican 18 18 26.900 28.500 0 1 0.0 0.0 7.32 Bancorpsouth Bk Tupe 97 97 31.450 31.800 3 3 0.1 0.1 1.54
34 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Bank Amer Corp 1,444 1,455 29.520 29.990 43 44 1.0 1.1 1.98 Bank Hawaii Corp 46 47 85.700 83.100 4 4 0.1 0.1 -2.43 Bank of Nt Butterfie 15 15 36.290 44.880 1 1 0.0 0.0 24.67 Banner Corp 29 29 55.120 55.490 2 2 0.0 0.0 1.12 Bb&T Corp 22 22 49.720 52.040 1 1 0.0 0.0 5.43 Berkshire Hathaway I 269 275 198.220 199.480 53 55 1.3 1.4 0.64 Blackrock Inc 33 33 513.710 541.720 17 18 0.4 0.4 6.01 Bok Finl Corp 29 29 92.320 98.990 3 3 0.1 0.1 7.76 Brighthouse Finl Inc 26 26 58.640 51.400 2 1 0.0 0.0 -12.35 CVB Finl Corp 15 15 23.560 22.640 0 0 0.0 0.0 -3.33 Cadence Bancorporati 4 4 27.120 27.230 0 0 0.0 0.0 0.86 Capital One Finl Cor 70 72 99.580 95.820 7 7 0.2 0.2 -3.36 Chimera Invt Corp 61 61 18.480 17.410 1 1 0.0 0.0 -3.07 Chubb Limited 70 71 146.130 136.770 10 10 0.3 0.2 -5.92 Cit Group Inc 27 27 49.230 51.500 1 1 0.0 0.0 4.95 Citigroup Inc 398 401 74.410 67.500 30 27 0.7 0.7 -8.91 Citizens Finl Group 58 57 41.980 41.980 2 2 0.1 0.1 0.48 Cme Group Inc 37 40 146.050 161.740 5 6 0.1 0.2 11.20 Community Tr Bancorp 6 6 47.100 45.200 0 0 0.0 0.0 -3.35 Cullen Frost Bankers 39 39 94.650 106.070 4 4 0.1 0.1 12.67 Discover Finl Svcs 39 39 76.920 71.930 3 3 0.1 0.1 -6.07 Donnelley Finl Solut 5 5 19.490 17.170 0 0 0.0 0.0 -11.90
35 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Factset Resh Sys Inc 1 1 192.760 199.420 0 0 0.0 0.0 3.74 First Amern Finl Cor 104 96 56.040 58.680 6 6 0.1 0.1 5.40 First Finl Bancorp 111 111 26.350 29.350 3 3 0.1 0.1 12.16 First Finl Bankshare 28 28 45.050 46.300 1 1 0.0 0.0 3.18 First Rep Bk San Fra 18 18 86.640 92.610 2 2 0.0 0.0 7.09 Franklin Res Inc 68 68 43.330 34.680 3 2 0.1 0.1 -12.38 Fulton Finl Corp Pa 87 87 17.900 17.750 2 2 0.0 0.0 -0.17 Gallagher Arthur J & 39 39 63.280 68.730 2 3 0.1 0.1 9.26 Genworth Finl Inc 184 184 3.110 2.830 1 1 0.0 0.0 -9.00 Goldman Sachs Group 76 76 254.760 251.860 19 19 0.5 0.5 -0.86 Great Westn Bancorp 31 31 39.800 40.270 1 1 0.0 0.0 1.69 Guaranty Bancorp Del 19 19 27.650 28.350 1 1 0.0 0.0 3.12 Hartford Finl Svcs G 85 85 56.280 51.520 5 4 0.1 0.1 -8.02 Heartland Finl Usa I 4 4 53.650 53.050 0 0 0.0 0.0 -0.88 Hilltop Holdings Inc 72 72 25.330 23.460 2 2 0.0 0.0 -7.13 Homestreet Inc 128 130 28.950 28.650 4 4 0.1 0.1 -1.04 Intercontinentalexch 52 53 70.560 72.520 4 4 0.1 0.1 3.11 International Bncshr 23 23 39.700 38.900 1 1 0.0 0.0 -1.18 Invesco Ltd 70 70 36.540 32.010 3 2 0.1 0.1 -11.63 Invesco Mortgage Cap 62 62 17.830 16.380 1 1 0.0 0.0 -5.74 J P Morgan Chase & C 516 510 106.940 109.970 55 56 1.4 1.4 3.36 Keycorp 99 99 20.170 19.550 2 2 0.0 0.0 -2.59
36 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Kkr Real Estate Fin 0 142 20.010 20.060 0 3 0.0 0.1 NA Lazard Ltd 3 3 52.500 52.560 0 0 0.0 0.0 3.30 Legg Mason Inc 76 195 41.980 40.650 3 8 0.1 0.2 -2.51 Lincoln Natl Corp In 65 66 76.870 73.060 5 5 0.1 0.1 -4.57 Lpl Finl Hldgs Inc 15 15 57.140 61.070 1 1 0.0 0.0 7.29 MSCI Inc 7 7 126.540 149.470 1 1 0.0 0.0 18.42 Marsh & McLennan Cos 76 76 81.390 82.590 6 6 0.2 0.2 1.93 Mb Financial Inc New 70 70 44.520 40.480 3 3 0.1 0.1 -8.57 Metlife Inc 253 254 50.560 45.890 13 12 0.3 0.3 -8.47 Mgic Invt Corp Wis 188 188 14.110 13.000 3 2 0.1 0.1 -7.87 Moodys Corp 52 53 147.610 161.300 8 9 0.2 0.2 9.56 Morgan Stanley 189 190 52.470 53.960 10 10 0.2 0.3 3.29 Morningstar Inc 7 7 96.970 95.520 1 1 0.0 0.0 -1.24 Nasdaq Stock Martket 5 5 76.830 86.220 0 0 0.0 0.0 12.73 New York Cmnty Banco 440 444 13.020 13.030 6 6 0.1 0.1 1.34 Nmi Hldgs Inc 93 93 17.000 16.550 2 2 0.0 0.0 -2.65 Northern Tr Corp 65 66 99.890 103.130 6 7 0.2 0.2 3.65 Old Natl Bancp Ind 45 45 17.450 16.900 1 1 0.0 0.0 -2.41 On Deck Cap Inc 14 14 5.740 5.590 0 0 0.0 0.0 -2.61 PNC Financial Corp 63 63 144.290 151.240 9 10 0.2 0.2 5.33 Peoples United Finan 220 223 18.700 18.660 4 4 0.1 0.1 0.66 Principal Financial 28 28 70.560 60.910 2 2 0.0 0.0 -12.96
37 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Progressive Corp Ohi 40 27 56.320 60.930 2 2 0.1 0.0 8.19 Prudential Finl Inc 121 122 114.980 103.550 14 13 0.3 0.3 -9.19 Regions Finl Corp 343 345 17.280 18.580 6 6 0.1 0.2 8.01 S&P Global Inc 38 38 169.400 191.060 6 7 0.2 0.2 13.08 Schwab Charles Cp Ne 173 181 51.370 52.220 9 9 0.2 0.2 1.86 Starwood Ppty Tr Inc 265 236 21.350 20.950 6 5 0.1 0.1 0.39 State Str Corp 55 56 97.610 99.730 5 6 0.1 0.1 2.60 Svb Finl Group 27 23 233.770 240.010 6 6 0.2 0.1 2.67 Synchrony Finl 38 30 38.610 33.530 1 1 0.0 0.0 -12.82 T.Rowe Price Group I 31 32 104.930 107.970 3 3 0.1 0.1 3.52 Td Ameritrade Hldg C 27 27 51.130 59.230 1 2 0.0 0.0 16.29 Tpg Re Fin Tr Inc 0 148 19.050 19.890 0 3 0.0 0.1 NA Travelers Companies 84 82 135.640 138.860 11 11 0.3 0.3 2.90 US Bancorp Del 195 196 53.580 50.500 10 10 0.3 0.2 -5.18 Umb Finl Corp 56 57 71.920 72.390 4 4 0.1 0.1 1.04 Umpqua Hldgs Corp 67 67 20.800 21.410 1 1 0.0 0.0 3.89 Union Bankshares Cor 8 8 36.170 36.710 0 0 0.0 0.0 2.09 Unumprovident Corp 9 9 54.890 47.610 0 0 0.0 0.0 -12.91 Voya Finl Inc 89 90 49.470 50.500 4 5 0.1 0.1 2.10 Waterstone Finl Inc 13 13 17.050 17.300 0 0 0.0 0.0 5.13 Webster Finl Corp Co 15 15 56.160 55.400 1 1 0.0 0.0 -0.87 Wells Fargo & Co New 641 646 60.670 52.410 39 34 1.0 0.8 -13.10
38 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Western Alliance Ban 24 24 56.620 58.110 1 1 0.0 0.0 2.63 Willis Towers Watson 41 42 150.690 152.190 6 6 0.2 0.2 1.40 Wintrust Financial C 19 19 82.370 86.050 2 2 0.0 0.0 4.71 Xl Group Ltd 138 139 35.160 55.260 5 8 0.1 0.2 57.79 612 610 14.8 15.1 -0.38 Information Technology Accenture Plc Irelan 141 139 153.090 153.500 22 21 0.5 0.5 0.27 Aci Worldwide Inc 38 38 22.670 23.720 1 1 0.0 0.0 4.63 Activision Blizzard 76 77 63.320 67.460 5 5 0.1 0.1 7.09 Adobe Sys Inc 84 85 175.240 216.080 15 18 0.4 0.5 23.31 Adtran Inc 8 8 19.350 15.550 0 0 0.0 0.0 -19.19 Advanced Micro Devic 138 0 10.280 10.050 1 0 0.0 0.0 -2.24 Akamai Technologies 28 24 65.040 70.980 2 2 0.0 0.0 9.13 Alliance Data System 11 11 253.480 212.860 3 2 0.1 0.1 -15.83 Alphabet Inc Cl-A 87 88 1053.400 1037.140 92 91 2.3 2.3 -1.54 Amdocs Ltd 11 11 65.480 66.720 1 1 0.0 0.0 2.28 Analog Devices Inc 52 53 89.030 91.130 5 5 0.1 0.1 2.89 Ansys Inc 1 1 147.590 156.690 0 0 0.0 0.0 6.17 Apple Inc 818 818 169.230 167.780 138 137 3.4 3.4 -0.46 Applied Materials In 216 217 51.120 55.610 11 12 0.3 0.3 8.98 Arista Networks Inc 13 13 235.580 255.300 3 3 0.1 0.1 8.37 Arris Intl Inc 42 42 25.690 26.570 1 1 0.0 0.0 3.43
39 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Arrow Electrs Inc 70 71 80.410 77.020 6 5 0.1 0.1 -4.22 Autodesk Inc 62 85 104.830 125.580 6 11 0.2 0.3 19.79 Automatic Data Proce 65 66 117.190 113.480 8 7 0.2 0.2 -2.64 Avnet Inc 82 84 39.620 41.760 3 4 0.1 0.1 5.85 Badger Meter Inc 3 3 47.800 47.150 0 0 0.0 0.0 -1.09 Benefitfocus Inc 7 7 27.000 24.400 0 0 0.0 0.0 -9.63 Blackbaud Inc 13 13 94.490 101.810 1 1 0.0 0.0 7.87 Booz Allen Hamilton 79 79 38.130 38.720 3 3 0.1 0.1 2.07 Broadcom Ltd 45 44 256.900 235.650 12 10 0.3 0.3 -7.62 Broadridge Finl Solu 20 20 90.580 109.690 2 2 0.0 0.1 21.51 Brooks Automation In 21 21 23.850 27.080 1 1 0.0 0.0 13.97 Ca Inc 83 83 33.280 33.900 3 3 0.1 0.1 2.61 Cadence Designs Sys 124 125 41.820 36.770 5 5 0.1 0.1 -12.08 Calamp Corp 6 6 21.430 22.880 0 0 0.0 0.0 6.77 Calix Inc 254 157 5.950 6.850 2 1 0.0 0.0 15.13 Cass Information Sys 13 13 58.210 59.510 1 1 0.0 0.0 2.64 Ciena Corp 103 103 20.930 25.900 2 3 0.1 0.1 23.75 Cisco Sys Inc 816 823 38.300 42.890 31 35 0.8 0.9 12.82 Citrix Sys Inc 42 42 88.000 92.800 4 4 0.1 0.1 5.45 Cognex Corp 27 27 61.160 51.990 2 1 0.0 0.0 -14.92 Cognizant Technology 86 87 71.020 80.500 6 7 0.2 0.2 13.63 Commscope Hldg Co In 1 1 37.830 39.970 0 0 0.0 0.0 5.66
40 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Conduent Inc 41 41 16.160 18.640 1 1 0.0 0.0 15.35 Convergys Corp 13 13 23.500 22.620 0 0 0.0 0.0 -3.32 Corning Inc 32 23 31.990 27.880 1 1 0.0 0.0 -12.31 Dell Technologies In 66 67 81.280 73.210 5 5 0.1 0.1 -9.93 Dolby Laboratories I 32 32 62.000 63.560 2 2 0.0 0.1 2.77 Dxc Technology Co 21 21 94.900 100.530 2 2 0.0 0.1 6.12 Ebay Inc 147 149 37.740 40.240 6 6 0.1 0.1 6.62 Electronic Arts 32 32 105.060 121.240 3 4 0.1 0.1 15.40 Entegris Inc 21 0 30.450 34.800 1 0 0.0 0.0 14.53 Etsy Inc 89 89 20.450 28.060 2 2 0.0 0.1 37.21 Extreme Networks Inc 17 17 12.520 11.070 0 0 0.0 0.0 -11.58 F5 Networks Inc 33 33 131.220 144.610 4 5 0.1 0.1 10.20 Facebook Inc 345 348 176.460 159.790 61 56 1.5 1.4 -9.45 Fair Isaac Corp 21 21 153.200 169.370 3 4 0.1 0.1 10.55 Fidelity Natl Inform 20 20 94.090 96.300 2 2 0.0 0.0 2.68 Finisar Corp 39 39 20.350 15.810 1 1 0.0 0.0 -22.31 First Data Corp New 29 29 16.710 16.000 0 0 0.0 0.0 -4.25 First Solar Inc 5 0 67.520 70.980 0 0 0.0 0.0 5.12 Fiserv Inc 24 23 131.130 71.310 3 2 0.1 0.0 8.76 Five9 Inc 21 21 24.880 29.790 1 1 0.0 0.0 19.73 Fleetcor Technologie 11 11 192.430 202.500 2 2 0.1 0.1 5.23 Fortinet Inc 33 33 43.690 53.580 1 2 0.0 0.0 22.64
41 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Gartner Group Inc Ne 16 16 123.150 117.620 2 2 0.0 0.0 -4.49 Global Pmts Inc 15 15 100.240 111.520 2 2 0.0 0.0 11.26 Godaddy Inc 20 20 50.280 61.420 1 1 0.0 0.0 22.16 Gogo Inc 115 115 11.280 8.630 1 1 0.0 0.0 -23.49 Henry Jack & Assoc I 12 12 116.960 120.950 1 1 0.0 0.0 3.74 Hewlett Packard Ente 279 283 14.360 17.540 4 5 0.1 0.1 22.63 Hp Inc 342 345 21.010 21.920 7 8 0.2 0.2 4.95 Infinera Corporation 32 32 6.330 10.860 0 0 0.0 0.0 71.56 Insight Enterprises 35 35 38.290 34.930 1 1 0.0 0.0 -8.78 Intel Corp 864 871 46.160 52.080 40 45 1.0 1.1 13.58 Intl Business McHn 124 125 153.420 153.430 19 19 0.5 0.5 1.02 Intuit 64 67 157.780 173.350 10 12 0.2 0.3 10.13 Juniper Networks 6 6 28.500 24.330 0 0 0.0 0.0 -14.03 KLA Instrs Corp 47 48 105.070 109.010 5 5 0.1 0.1 4.32 Keysight Technologie 61 60 41.600 52.390 3 3 0.1 0.1 25.94 Lam Resh Corp 47 47 184.070 203.160 9 10 0.2 0.2 10.64 Leidos Hldgs Inc 34 34 64.570 65.400 2 2 0.1 0.1 1.76 Logmein Inc 9 9 114.500 115.550 1 1 0.0 0.0 1.16 Lumentum Hldgs Inc 17 17 48.900 63.800 1 1 0.0 0.0 30.47 MTS Sys Corp 18 18 53.700 51.650 1 1 0.0 0.0 -3.28 Marvell Technology G 113 113 21.470 21.000 2 2 0.1 0.1 -1.90 Mastercard Inc 180 178 151.360 175.160 27 31 0.7 0.8 15.91
42 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Maxlinear Inc 13 0 26.420 22.750 0 0 0.0 0.0 -13.89 Methode Electrs Inc 33 33 40.100 39.100 1 1 0.0 0.0 -2.23 Microchip Technology 1 3 87.880 91.360 0 0 0.0 0.0 4.40 Micron Technology In 74 97 41.120 52.140 3 5 0.1 0.1 26.80 Microsoft Corp 1,158 1,167 85.540 91.270 99 107 2.4 2.6 7.19 Mindbody Inc 61 61 30.450 38.900 2 2 0.0 0.1 27.75 Moneygram Intl Inc 6 6 13.180 8.620 0 0 0.0 0.0 -34.60 Motorola Solutions I 33 34 90.340 105.300 3 4 0.1 0.1 17.12 National Instrs Corp 61 61 41.630 50.570 3 3 0.1 0.1 22.08 New Relic Inc 6 6 57.770 74.120 0 0 0.0 0.0 28.30 Nvidia Corp 101 102 193.500 231.590 20 24 0.5 0.6 19.76 Nxp Semiconductors N 29 33 117.090 117.000 3 4 0.1 0.1 -0.08 Oracle Corp 471 475 47.280 45.750 22 22 0.5 0.5 -2.86 Palo Alto Networks I 8 0 144.940 181.520 1 0 0.0 0.0 25.24 Paychex Inc 42 42 68.080 61.590 3 3 0.1 0.1 -8.87 Paylocity Hldg Corp 13 13 47.160 51.230 1 1 0.0 0.0 8.63 Paypal Hldgs Inc 178 180 73.620 75.870 13 14 0.3 0.3 3.06 Plantronics Inc New 79 79 50.380 60.370 4 5 0.1 0.1 20.15 Power Integrations I 13 13 73.550 68.350 1 1 0.0 0.0 -6.85 Ptc Inc 26 26 60.770 78.010 2 2 0.0 0.1 28.37 Qualcomm Inc 193 176 64.020 55.410 12 10 0.3 0.2 -12.71 Quotient Technology 95 95 11.750 13.100 1 1 0.0 0.0 11.49
43 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Red Hat Inc 27 28 120.100 149.510 3 4 0.1 0.1 24.49 Ribbon Communication 15 15 7.730 5.100 0 0 0.0 0.0 -34.02 Ringcentral Inc 1 1 48.400 63.500 0 0 0.0 0.0 31.20 Sabre Corp 55 55 20.500 21.450 1 1 0.0 0.0 5.29 Salesforce Com Inc 122 123 102.230 116.300 12 14 0.3 0.4 13.76 Scansource Inc 38 38 35.800 35.550 1 1 0.0 0.0 -0.70 Science Applicatns I 30 30 76.570 78.800 2 2 0.1 0.1 3.32 Servicenow Inc 26 26 130.390 165.450 3 4 0.1 0.1 26.89 Silicon Laboratories 13 13 88.300 89.900 1 1 0.0 0.0 1.81 Silver Spring Networ 20 0 16.240 NA 0 0 0.0 0.0 NA Splunk Inc 23 23 82.840 98.390 2 2 0.0 0.1 18.77 Square Inc 62 62 34.670 49.200 2 3 0.1 0.1 41.91 Symantec Corp 81 81 28.060 25.850 2 2 0.1 0.1 -7.62 Synnex Corp 15 15 135.950 118.400 2 2 0.1 0.0 -12.68 Tableau Software Inc 13 13 69.200 80.820 1 1 0.0 0.0 16.79 Take-Two Interactive 21 21 109.780 97.780 2 2 0.1 0.1 -10.93 Tech Data Corp 3 3 97.970 85.130 0 0 0.0 0.0 -13.11 Teradata Corp Del 173 202 38.460 39.670 7 8 0.2 0.2 3.15 Texas Instrs Inc 124 131 104.440 103.890 13 14 0.3 0.3 0.03 Total Sys Svcs Inc 2 7 79.090 86.260 0 1 0.0 0.0 9.22 Travelport Worldwide 118 118 13.070 16.340 2 2 0.0 0.0 25.68 Trimble Navigation L 139 141 40.640 35.880 6 5 0.1 0.1 -11.71
44 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Twilio Inc 29 29 23.600 38.180 1 1 0.0 0.0 61.78 Twitter Inc 57 0 24.010 29.010 1 0 0.0 0.0 20.82 Universal Display Co 3 3 172.650 101.000 1 0 0.0 0.0 -41.47 Viad Corp 6 6 55.400 52.450 0 0 0.0 0.0 -5.15 Visa Inc 322 324 114.020 119.620 37 39 0.9 1.0 5.09 Vmware Inc 32 32 125.320 121.270 4 4 0.1 0.1 -3.23 Western Digital Corp 5 3 79.530 92.270 0 0 0.0 0.0 16.66 Western Un Co 162 162 19.010 19.230 3 3 0.1 0.1 2.12 Workday Inc 26 26 101.740 127.110 3 3 0.1 0.1 24.94 Worldpay Inc 0 6 73.550 82.240 0 0 0.0 0.0 NA Xerox Corp 67 67 29.150 28.780 2 2 0.0 0.0 -0.41 Xilinx Inc 55 56 67.420 72.240 4 4 0.1 0.1 7.69 952 992 23.4 24.6 4.24 Telecom Services At&T Inc 907 914 38.880 35.650 35 33 0.9 0.8 -7.08 Boingo Wireless Inc 63 63 22.500 24.770 1 2 0.0 0.0 10.09 Centurylink Inc 149 149 16.680 16.430 2 2 0.1 0.1 1.57 Globalstar Inc 311 311 1.310 0.688 0 0 0.0 0.0 -47.52 Sprint Corp 168 168 5.890 4.880 1 1 0.0 0.0 -17.15 T-Mobile US Inc 43 43 63.510 61.040 3 3 0.1 0.1 -3.89 Verizon Communicatio 599 610 52.930 47.820 32 29 0.8 0.7 -8.62 Zayo Group Hldgs Inc 84 84 36.800 34.160 3 3 0.1 0.1 -7.17
45 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Telecom Services (cont.) 78 72 1.9 1.8 -7.35 Utilities American Elec Pwr In 13 13 73.570 68.590 1 1 0.0 0.0 -5.86 American Wtr Wks Co 39 39 91.490 82.130 4 3 0.1 0.1 -9.76 Aqua America Inc 79 79 39.230 34.060 3 3 0.1 0.1 -12.66 CMS Energy Corp 12 12 47.300 45.290 1 1 0.0 0.0 -3.47 Consolidated Edison 110 111 84.950 77.940 9 9 0.2 0.2 -7.40 Dominion Res Inc Va 35 30 81.060 67.430 3 2 0.1 0.1 -15.85 Duke Energy Corp New 59 57 84.110 77.470 5 4 0.1 0.1 -6.82 Edison Intl 108 109 63.240 63.660 7 7 0.2 0.2 1.63 Eversource Energy 128 129 63.180 58.920 8 8 0.2 0.2 -5.93 Exelon Corp 278 280 39.410 39.010 11 11 0.3 0.3 -0.08 New Jersey Res 51 50 40.200 40.100 2 2 0.1 0.0 0.44 Nextera Energy Inc 104 104 156.190 163.330 16 17 0.4 0.4 5.32 Ormat Technologies I 129 129 63.960 56.380 8 7 0.2 0.2 -11.48 Pattern Energy Group 321 411 21.490 17.290 7 7 0.2 0.2 -17.60 Pg&E Corp 96 98 44.830 43.930 4 4 0.1 0.1 -2.01 Public Svc Enterpris 2 9 51.500 50.240 0 0 0.0 0.0 -1.50 Sempra Energy 79 79 106.920 111.220 8 9 0.2 0.2 4.86 South Jersey Inds In 45 45 31.230 28.160 1 1 0.0 0.0 -8.93 Southern Co 31 31 48.090 44.660 1 1 0.0 0.0 -5.91 Southwest Gas Corp 8 8 80.480 67.630 1 1 0.0 0.0 -15.35
46 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Utilities (cont.) Terraform Pwr Inc 68 68 11.960 10.730 1 1 0.0 0.0 -8.82 Wgl Hldgs Inc 56 57 85.840 83.650 5 5 0.1 0.1 -1.97 Xcel Energy Inc 56 23 48.110 45.480 3 1 0.1 0.0 -4.64 109 105 2.7 2.6 -3.88 Real Estate Alexandria Real Esta 7 7 130.590 124.890 1 1 0.0 0.0 -3.67 Altisource Portfolio 15 15 28.000 26.560 0 0 0.0 0.0 -5.14 Altisource Residenti 166 0 11.860 10.050 2 0 0.0 0.0 -13.99 American Campus Cmnt 16 16 41.030 38.620 1 1 0.0 0.0 -4.76 American Tower Reit 51 51 142.670 145.340 7 7 0.2 0.2 1.87 Avalonbay Cmntys Inc 10 10 178.410 164.460 2 2 0.0 0.0 -6.99 Boston Properties In 20 20 130.030 123.220 3 2 0.1 0.1 -4.62 Brandywine Rlty Tr 193 193 18.190 15.880 4 3 0.1 0.1 -11.80 Cbre Group Inc 209 199 43.310 47.220 9 9 0.2 0.2 9.03 Colony Northstar Inc 341 577 11.410 5.620 4 3 0.1 0.1 -49.79 Coresite Rlty Corp 63 69 113.900 100.260 7 7 0.2 0.2 -11.13 Corporate Office Ppt 65 65 29.200 25.830 2 2 0.0 0.0 -10.60 Crown Castle Intl Co 30 30 111.010 109.610 3 3 0.1 0.1 -0.32 Cyrusone Inc 116 133 59.530 51.210 7 7 0.2 0.2 -13.20 Dct Industrial Trust 20 20 58.780 56.340 1 1 0.0 0.0 -3.54 Digital Rlty Tr Inc 97 34 113.900 105.380 11 4 0.3 0.1 -6.59 Douglas Emmett Inc 15 15 41.060 36.760 1 1 0.0 0.0 -9.86
47 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Real Estate (cont.) Duke-Weeks Realty Co 75 75 27.210 26.480 2 2 0.1 0.0 -1.92 Easterly Govt Pptys 201 204 21.340 20.400 4 4 0.1 0.1 -3.15 Equinix Inc 11 11 453.220 418.140 5 5 0.1 0.1 -7.21 Equity Residential P 4 8 63.770 61.620 0 0 0.0 0.0 -2.48 Front Yd Residential 0 428 11.860 10.050 0 4 0.0 0.1 NA Hcp Inc 131 131 26.080 23.230 3 3 0.1 0.1 -9.41 Hff Inc 22 22 48.640 49.700 1 1 0.0 0.0 6.30 Host Marriott Corp N 98 98 19.850 18.640 2 2 0.0 0.0 -5.08 Howard Hughes Corp C 4 4 131.270 139.130 1 1 0.0 0.0 5.99 Iron Mtn Inc New 69 68 37.730 32.860 3 2 0.1 0.1 -11.36 Jones Lang Lasalle I 52 51 148.930 174.640 8 9 0.2 0.2 17.26 Kennedy-Wilson Hldgs 79 79 17.350 17.400 1 1 0.0 0.0 1.38 Kilroy Rlty Corp 9 9 74.650 70.960 1 1 0.0 0.0 -4.38 Kimco Realty Corp 59 59 18.150 14.400 1 1 0.0 0.0 -20.66 Lamar Advertising Co 67 68 74.240 63.660 5 4 0.1 0.1 -13.06 Liberty Ppty Tr 64 64 43.010 39.730 3 3 0.1 0.1 -6.70 Macerich Co 20 20 65.680 56.020 1 1 0.0 0.0 -13.64 Marcus & Millichap I 62 62 32.610 36.060 2 2 0.0 0.1 10.58 Outfront Media Inc 149 148 23.200 18.740 3 3 0.1 0.1 -17.70 Prologis Inc 182 190 64.510 62.990 12 12 0.3 0.3 -1.61 Public Storage Inc 4 4 209.000 200.390 1 1 0.0 0.0 -3.15 Qts Rlty Tr Inc 72 72 54.160 36.220 4 3 0.1 0.1 -32.37
48 Chatham University Equity Holdings Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Real Estate (cont.) Realogy Hldgs Corp 78 78 26.500 27.280 2 2 0.1 0.1 3.30 Regency Ctrs Corp 5 5 69.180 58.980 0 0 0.0 0.0 -13.93 Sba Communications C 27 27 163.360 170.920 4 5 0.1 0.1 4.63 Select Income Reit 45 45 25.130 19.480 1 1 0.0 0.0 -20.74 Simon Ppty Group Inc 35 36 171.740 154.350 6 6 0.1 0.1 -9.00 Sl Green Rlty Corp 4 4 100.930 96.830 0 0 0.0 0.0 -3.26 Udr Inc 144 145 38.520 35.620 6 5 0.1 0.1 -6.75 Uniti Group Inc 64 64 17.790 16.250 1 1 0.0 0.0 -5.27 Ventas Inc 21 13 60.010 49.530 1 1 0.0 0.0 -16.15 Vornado Rlty Tr 0 10 78.180 67.300 0 1 0.0 0.0 NA Welltower Inc 85 85 63.770 54.430 5 5 0.1 0.1 -13.28 Weyerhaeuser Co 27 19 35.260 35.000 1 1 0.0 0.0 0.19 156 144 3.8 3.6 -6.17
49 Chatham University Custom Benchmark Specification Mellon Carbon Eff Brd Mkt Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Russell 3000 3/17 3/18 100.00 Russell 3000
50 Chatham University Growth of One Dollar DFA Small Cap Quarter Ended 3/31/18
4.00
3.50
3.00
2.50
Value 2.00
1.50
1.00
0.50 3/10 3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 6/30/09 Value Total 8.06 16.01 3.67 Russell 2000 8.39 14.97 3.39
1 Chatham University Value Added Analysis DFA Small Cap Quarter Ended 3/31/18
7.0%
6.0%
5.0%
4.0% 3.36 3.0% 2.64 2.12 2.0% 1.59
1.0% 1.07 0.51 0.46 0.19 0.0% -0.03 -0.2 -0.29 -0.32 -0.24 -1.0% -0.96 -0.88 -1.48 -1.44 -2.0% -1.54 -2.1 -2.05 -3.0%
-4.0% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. Russell 2000 Cumulative Value Added 2 Yr Rolling Avg (Annualized)
2 Chatham University Equity Structural Characteristics DFA Small Cap Quarter Ended 3/31/18
# % % % Sectors Turn- Quarter $(000) Stocks Equity Cash Other ENR MAT IND CDI CST HTH FIN INF TEL UTL RES Over 06/30/09 985 2,793 100 0 0 5 4 17 18 4 13 13 22 1 2 0 NA 09/30/09 1,196 2,802 100 0 0 6 5 17 18 4 13 13 21 1 2 0 NA 12/31/09 1,236 2,749 100 0 0 6 5 18 18 4 13 13 21 1 2 0 NA 03/31/10 2,145 2,712 100 0 0 6 5 17 18 3 14 14 20 1 2 0 NA 06/30/10 1,943 2,626 100 0 0 5 5 18 17 4 13 14 20 1 2 0 NA 09/30/10 1,455 2,587 100 0 0 6 5 18 17 4 12 14 21 1 3 0 NA 12/31/10 1,704 2,553 100 0 0 6 6 19 17 4 11 14 21 1 3 0 NA 03/31/11 1,853 2,498 100 0 0 7 6 19 16 4 10 13 22 1 3 0 NA 06/30/11 1,829 2,473 100 0 0 6 6 18 17 4 11 14 21 1 3 0 NA 09/30/11 1,428 2,412 100 0 0 5 5 17 17 5 12 15 19 1 4 0 NA 12/31/11 1,650 2,355 100 0 0 5 5 18 17 5 11 15 19 1 4 0 NA 03/31/12 1,859 2,306 100 0 0 5 5 18 18 4 11 15 19 1 3 0 NA 06/30/12 1,787 2,288 100 0 0 4 5 18 18 5 11 16 19 1 3 0 NA 09/30/12 1,428 2,228 100 0 0 5 6 18 19 4 11 16 18 1 3 0 NA 12/31/12 1,473 2,191 100 0 0 5 6 19 18 4 10 17 17 1 3 0 NA 03/31/13 1,657 2,170 100 0 0 5 6 19 18 4 9 17 17 0 3 0 NA 06/30/13 1,726 2,215 100 0 0 5 5 18 19 5 9 17 17 0 3 0 NA 09/30/13 1,899 2,201 100 0 0 5 5 18 19 4 10 17 18 1 3 0 NA 12/31/13 2,095 2,168 100 0 0 5 5 18 18 4 10 17 18 1 3 0 NA 03/31/14 2,112 2,165 100 0 0 6 5 18 17 4 10 17 19 1 3 0 NA 06/30/14 2,159 2,328 100 0 0 11 5 13 15 7 12 14 18 2 3 0 NA 09/30/14 2,011 2,083 100 0 0 5 6 18 18 4 9 18 18 1 3 0 NA Russell 2000 2,072,798 1,981 100 0 0 4 4 15 12 2 17 18 18 1 3 6 NA ENR - Energy CST - Consumer Staples TEL - Telecommunication Services MAT- Materials HTH- Health Care UTL - Utilities IND - Industrials FIN - Financials RES - Real Estate CDI - Consumer Discretionary INF - Information Technology Characteristics represent 100% of portfolio's market value. 3 Chatham University Equity Structural Characteristics DFA Small Cap Quarter Ended 3/31/18
# % % % Sectors Turn- Quarter $(000) Stocks Equity Cash Other ENR MAT IND CDI CST HTH FIN INF TEL UTL RES Over 12/31/14 2,188 1,993 100 0 0 3 5 18 18 5 10 18 19 1 4 0 NA 03/31/15 2,275 1,935 100 0 0 3 5 18 19 4 10 18 18 1 4 0 NA 06/30/15 1,930 1,936 100 0 0 3 5 17 19 4 10 19 18 1 4 0 NA 09/30/15 1,741 1,929 100 0 0 3 5 17 18 5 10 20 17 1 4 0 NA 12/31/15 1,788 1,900 100 0 0 3 4 17 17 4 10 20 18 1 5 0 NA 03/31/16 1,821 1,886 100 0 0 3 5 18 18 4 9 19 18 1 5 0 NA 06/30/16 1,337 1,849 100 0 0 4 5 18 18 4 9 19 17 1 5 0 NA 09/30/16 1,430 1,822 100 0 0 4 6 19 16 5 9 19 17 1 4 0 NA 12/31/16 1,594 1,812 100 0 0 5 6 19 16 4 8 22 15 1 4 1 NA 03/31/17 1,610 1,820 100 0 0 5 6 19 16 4 8 22 15 1 4 1 NA 06/30/17 1,625 1,799 100 0 0 4 5 19 16 4 9 22 15 1 4 1 NA 09/30/17 1,713 1,787 100 0 0 4 5 20 16 4 9 21 15 1 4 1 NA 12/31/17 1,778 1,805 100 0 0 5 5 20 17 4 8 21 14 1 3 1 NA 03/31/18 1,751 1,816 100 0 0 6 5 20 16 4 9 21 14 1 3 1 NA
Russell 2000 2,072,798 1,981 100 0 0 4 4 15 12 2 17 18 18 1 3 6 NA ENR - Energy CST - Consumer Staples TEL - Telecommunication Services MAT- Materials HTH- Health Care UTL - Utilities IND - Industrials FIN - Financials RES - Real Estate CDI - Consumer Discretionary INF - Information Technology Characteristics represent 100% of portfolio's market value. 4 Chatham University Equity Investment Characteristics DFA Small Cap Quarter Ended 3/31/18
Growth Average $ Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Market Cap(Mil) P/E P/B YLD ROE Beta Debt/Eqt R Square 06/30/09 2.8 1.5 732 192.1 1.2 1.0 7.8 1.31 0.31 0.82 09/30/09 2.0 1.5 894 -85.2 1.4 0.8 7.4 1.34 0.32 0.85 12/31/09 1.7 1.5 935 -74.3 1.5 0.8 7.2 1.32 0.32 0.83 03/31/10 -0.8 0.7 1,036 194.6 1.6 0.7 6.0 1.31 0.27 0.83 06/30/10 -0.4 0.7 894 41.4 1.4 0.8 6.3 1.27 0.28 0.83 09/30/10 -0.7 0.6 1,011 36.4 1.5 0.8 6.4 1.29 0.27 0.85 12/31/10 -0.7 0.6 1,154 35.3 1.8 0.7 7.4 1.28 0.29 0.85 03/31/11 1.2 0.3 1,290 32.4 1.9 0.7 9.8 1.28 0.34 0.85 06/30/11 1.7 0.5 1,302 27.6 1.8 0.8 10.1 1.26 0.35 0.85 09/30/11 2.3 0.8 1,046 19.1 1.4 1.1 10.5 1.25 0.35 0.87 12/31/11 2.1 0.7 1,175 20.9 1.6 1.0 10.5 1.27 0.36 0.88 03/31/12 1.8 0.6 1,267 24.8 1.8 1.0 10.6 1.26 0.36 0.87 06/30/12 4.0 0.7 1,220 22.1 1.7 1.0 11.1 1.27 0.37 0.88 09/30/12 3.8 0.6 1,294 23.0 1.7 1.0 10.9 1.27 0.39 0.88 12/31/12 3.5 0.5 1,352 22.7 1.7 1.1 10.7 1.27 0.40 0.88 03/31/13 7.3 1.1 1,516 24.4 1.8 1.0 11.7 1.29 0.43 0.87 06/30/13 7.3 1.2 1,607 26.5 1.9 1.0 11.5 1.29 0.42 0.86 09/30/13 7.2 1.3 1,698 29.4 2.0 1.0 11.2 1.30 0.42 0.88 12/31/13 7.1 1.3 1,883 32.8 2.3 0.9 10.9 1.28 0.42 0.84 03/31/14 10.2 2.2 1,882 31.0 2.1 1.0 10.1 1.30 0.46 0.84 06/30/14 11.3 7.0 75,764 21.5 2.5 1.6 16.3 1.11 0.52 0.96 09/30/14 10.0 2.2 1,705 27.1 2.0 1.1 10.5 1.26 0.44 0.83 Russell 2000 6.7 3.1 2,549 51.9 2.1 1.3 7.3 1.05 0.72 0.52
Characteristics represent 100% of portfolio's market value. 5 Chatham University Equity Investment Characteristics DFA Small Cap Quarter Ended 3/31/18
Growth Average $ Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Market Cap(Mil) P/E P/B YLD ROE Beta Debt/Eqt R Square 12/31/14 8.9 2.8 1,848 27.0 2.0 1.0 10.9 1.25 0.46 0.86 03/31/15 8.2 2.9 1,976 27.0 2.1 1.1 11.3 1.24 0.48 0.84 06/30/15 8.0 3.0 1,941 27.9 2.1 1.1 11.2 1.24 0.48 0.82 09/30/15 7.9 3.0 1,799 24.4 1.9 1.3 11.2 1.18 0.47 0.77 12/31/15 6.3 3.4 1,963 26.8 2.0 1.3 11.2 1.19 0.51 0.77 03/31/16 5.6 3.6 1,972 27.0 2.0 1.3 11.3 1.18 0.50 0.79 06/30/16 5.3 3.5 1,968 27.3 2.0 1.3 11.2 1.19 0.50 0.79 09/30/16 4.9 3.4 2,051 31.5 2.0 1.3 10.7 1.15 0.50 0.72 12/31/16 4.8 3.5 2,203 37.4 2.2 1.2 10.3 1.13 0.50 0.62 03/31/17 3.2 3.3 2,325 33.8 2.1 1.2 9.7 1.14 0.52 0.59 06/30/17 3.6 3.2 2,176 34.6 2.1 1.2 9.4 1.13 0.50 0.51 09/30/17 3.4 3.1 2,259 35.9 2.2 1.1 9.3 1.15 0.49 0.51 12/31/17 3.4 3.1 2,383 37.4 2.2 1.1 9.5 1.16 0.49 0.54 03/31/18 3.2 3.0 2,304 32.4 2.0 1.2 9.6 1.06 0.51 0.52
Russell 2000 6.7 3.1 2,549 51.9 2.1 1.3 7.3 1.05 0.72 0.52
Characteristics represent 100% of portfolio's market value. 6 Chatham University Equity Return Analysis DFA Small Cap Quarter Ended 3/31/18
Net Management Effect Total Equity Sector Stock Quarter Index* Return Return Timing Weighting Selection Trading Total 09/09 19.28 21.45 21.45 -0.00 0.64 0.99 0.54 2.17 12/09 3.88 3.35 3.35 0.00 0.19 -0.69 -0.03 -0.53
03/10 8.85 10.03 10.03 -0.00 0.06 1.16 -0.04 1.18 06/10 -9.93 -9.42 -9.42 0.00 -0.19 0.69 0.01 0.51 09/10 11.29 11.95 11.95 0.00 0.54 0.31 -0.19 0.66 12/10 16.25 17.14 17.14 -0.00 0.41 0.70 -0.22 0.88 2010 26.85 30.70 30.70 -0.00 0.88 3.47 -0.50 3.85 03/11 7.93 8.74 8.74 0.00 0.24 0.93 -0.36 0.81 06/11 -1.61 -1.30 -1.30 -0.00 -0.00 0.31 0.00 0.31 09/11 -21.86 -21.91 -21.91 0.00 -0.49 0.20 0.24 -0.05 12/11 15.48 15.56 15.56 0.00 -0.00 0.04 0.04 0.08 2011 -4.17 -3.15 -3.15 0.00 -0.40 1.41 0.01 1.02 03/12 12.44 12.66 12.66 0.00 0.32 0.02 -0.11 0.23 06/12 -3.47 -3.89 -3.89 0.00 -0.54 0.07 0.05 -0.42 09/12 5.25 6.02 6.02 0.00 -0.02 0.76 0.04 0.78 12/12 1.85 3.14 3.14 -0.00 0.54 0.74 0.01 1.29 2012 16.34 18.40 18.40 0.00 0.27 1.79 0.00 2.06 03/13 12.39 12.51 12.51 0.00 -0.05 0.26 -0.09 0.11 06/13 3.09 4.16 4.16 0.00 0.38 0.57 0.12 1.07 09/13 10.21 10.01 10.01 -0.00 0.11 -0.05 -0.25 -0.20 12/13 8.72 10.31 10.31 0.00 0.11 1.61 -0.12 1.59 2013 38.82 42.21 42.21 0.00 0.73 3.09 -0.43 3.38 03/14 1.12 0.83 0.83 0.00 -0.34 0.12 -0.07 -0.29 Index* : Russell 2000 7 Chatham University Equity Return Analysis DFA Small Cap Quarter Ended 3/31/18
Net Management Effect Total Equity Sector Stock Quarter Index* Return Return Timing Weighting Selection Trading Total 06/14 2.05 2.24 2.24 -0.00 -0.03 0.23 -0.01 0.19 09/14 -7.36 -6.85 -6.85 0.00 -0.72 6.95 -5.72 0.51 12/14 9.73 8.76 8.76 0.00 -0.13 0.05 -0.88 -0.96 2014 4.89 4.44 4.44 0.00 -1.37 8.31 -7.39 -0.45 03/15 4.32 3.99 3.99 -0.00 -0.34 -0.12 0.13 -0.32 06/15 0.42 0.40 0.66 -0.27 -0.49 0.71 0.02 -0.03 09/15 -11.92 -9.80 -9.80 0.00 0.02 2.42 -0.32 2.12 12/15 3.59 2.71 2.71 -0.00 -0.56 -0.05 -0.28 -0.88 2015 -4.41 -3.27 -3.02 -0.26 -1.30 3.17 -0.47 1.14 03/16 -1.52 1.84 1.84 0.00 1.52 1.50 0.35 3.36 06/16 3.79 1.70 1.17 0.52 -0.16 -1.75 -0.71 -2.10 09/16 9.05 7.00 7.00 0.00 -0.62 -1.48 0.05 -2.05 12/16 8.83 11.47 11.47 0.00 0.41 2.20 0.03 2.64 2016 21.31 23.53 22.89 0.63 1.40 0.55 -0.36 2.22 03/17 2.47 0.98 0.98 0.00 -0.59 -0.79 -0.10 -1.48 06/17 2.46 0.92 0.92 -0.00 -0.78 -0.81 0.05 -1.54 09/17 5.67 5.42 5.42 -0.00 0.13 -0.24 -0.13 -0.24 12/17 3.34 3.80 3.80 0.00 0.69 -0.28 0.05 0.46 2017 14.65 11.52 11.52 0.00 -0.64 -2.35 -0.14 -3.12 03/18 -0.08 -1.52 -1.52 -0.00 -0.56 -0.73 -0.15 -1.44
Index* : Russell 2000 8 Chatham University Equity Return Analysis DFA Small Cap Quarter Ended 3/31/18
Net Management Effect Total Equity Sector Stock Quarter Index* Return Return Timing Weighting Selection Trading Total
From Inception 14.97 16.01 15.97 0.03 -0.11 2.20 -1.08 1.04 Avg Up Markets 7.18 7.31 7.30 0.01 0.13 Avg Down Markets -7.22 -6.61 -6.61 0.00 0.61 Index* : Russell 2000 9 Chatham University Equity Sector Attribution Analysis DFA Small Cap Quarter Ended 3/31/18
Portfolio Russell 2000 Selection Sector Mkt Val % Return Mkt Val % Return Stock Sector Total Real Estate 0.62 3.23 6.72 -8.12 0.07 0.49 0.56 Consumer Staples 4.49 -2.70 2.77 -5.47 0.12 -0.09 0.03 Telecom Services 1.07 -1.88 0.77 -5.11 0.03 -0.02 0.02 Financials 20.52 0.78 17.81 0.85 -0.01 0.02 0.01 Utilities 3.48 -6.22 3.54 -6.39 0.01 0.00 0.01 Energy 5.10 -9.74 4.01 -11.49 0.09 -0.12 -0.04 Consumer Discretionary 16.61 -2.49 12.52 -2.72 0.04 -0.11 -0.07 Materials 5.44 -4.13 4.57 -3.01 -0.06 -0.03 -0.09 Industrials 20.13 -2.98 15.35 -2.49 -0.10 -0.12 -0.22 Health Care 8.46 4.26 15.25 6.24 -0.17 -0.43 -0.59 Information Technology 14.08 1.23 16.70 6.56 -0.75 -0.17 -0.92 Quarter Total 100.00 -1.38 100.00 -0.08 -0.73 -0.56 -1.29
Stock Selection Return Attribution = [ Portfolio Market Value Sector Percent ] x [ Portfolio Sector Return - Index Sector Return]
Sector Selection Return Attribution = [ Portfolio Sector Percent - Index Sector Percent ] x [ Index Sector Return - Index Total Return ]
Trading Effect -0.15% = [ Actual Return -1.52% ] - [ Buy Hold Return -1.38% ]
10 Chatham University Equity Summary Statistics DFA Small Cap Quarter Ended 3/31/18
10 Largest Holdings 10 Best Performers Name %Port $(000) Name %Port %Return Sterling Bancorp Del 0.4 6 Bluelinx Hldgs Inc 0.0 233.91 Cathay Bancorp Inc 0.4 6 Pfenex Inc 0.0 125.56 Deckers Outdoor Corp 0.3 6 Juniper Pharmaceutic 0.0 109.28 Mks Instrument Inc 0.3 6 Cambium Learning Grp 0.0 97.18 Firstcash Inc 0.3 6 Alliance One Intl In 0.0 96.60 TCF Bkg & Svgs Fa Mi 0.3 5 Arrowhead Pharmaceut 0.0 95.92 Bancorpsouth Bk Tupe 0.3 5 Catalyst Biosciences 0.0 89.15 Interactive Brokers 0.3 5 Performant Finl Corp 0.0 81.82 Cimpress N V 0.3 5 Virtu Finl Inc 0.0 81.79 Cree Inc 0.3 5 Pain Therapeutics In 0.0 77.25
Portfolio Characteristic Distribution (%) 10 Worst Performers Quartile Mkt. Cap P/E Yield Name %Port %Return 1st 61.8 33.9 28.3 Dermira Inc 0.0 -71.27 2nd 23.8 39.7 71.7 Ascent Media Corp 0.0 -67.97 3rd 10.4 26.3 0.0 Roadrunner Trnsn Svc 0.0 -67.06 4th 4.0 0.0 0.0 Autoweb Inc 0.0 -66.93 Russell 2000 Willbros Group Inc D 0.0 -61.09 Sino Global Shipping 0.0 -56.25 25th Percentile 1,781,555 28.9 1.8 Lipocine Inc New 0.0 -55.52 50th Percentile 858,031 17.4 0.0 Ultra Petroleum Corp 0.0 -53.97 75th Percentile 382,413 -4.8 0.0 Melinta Therapeutics 0.0 -53.16 Tetraphase Pharmaceu 0.0 -51.27
11 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy Abraxas Pete Corp 23 66 2.460 2.220 0 0 0.0 0.0 -9.76 Adams Res & Energy I 2 2 43.500 43.500 0 0 0.0 0.0 0.53 Approach Resources I 1 1 2.960 2.610 0 0 0.0 0.0 -11.82 Arch Coal Inc 19 21 93.160 91.880 2 2 0.1 0.1 -0.98 Archrock Inc 64 62 10.500 8.750 1 1 0.0 0.0 -15.60 Ardmore Shipping Cor 2 5 8.000 7.600 0 0 0.0 0.0 -5.00 Aspen Aerogels Inc 1 1 4.880 4.270 0 0 0.0 0.0 -12.50 Barnwell Inds Inc 3 3 2.080 1.875 0 0 0.0 0.0 -9.86 Barrett Bill Corp 75 0 5.130 5.080 0 0 0.0 0.0 -0.97 Basic Energy Svcs In 21 30 23.470 14.440 0 0 0.0 0.0 -38.47 Bonanza Creek Energy 2 10 27.590 27.710 0 0 0.0 0.0 0.43 Bristow Group Inc 45 45 13.470 13.000 1 1 0.0 0.0 -3.49 California Res Corp 10 12 19.440 17.150 0 0 0.0 0.0 -11.78 Callon Pete Co Del 209 209 12.150 13.240 3 3 0.1 0.2 8.97 Carbo Ceramics Inc 8 7 10.180 7.250 0 0 0.0 0.0 -28.78 Carrizo Oil & Co Inc 51 79 21.280 16.000 1 1 0.1 0.1 -24.81 Chesapeake Energy Co 233 505 3.960 3.020 1 2 0.1 0.1 -23.74 Clean Energy Fuels C 80 80 2.030 1.650 0 0 0.0 0.0 -18.72 Cloud Peak Energy In 79 77 4.450 2.910 0 0 0.0 0.0 -34.61 Cnx Resources Corpor 48 165 14.630 15.430 1 3 0.0 0.1 5.47 Consol Energy Inc Ne 6 6 39.510 28.970 0 0 0.0 0.0 -26.68 Contango Oil & Gas C 28 32 4.710 3.550 0 0 0.0 0.0 -24.63
12 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy (cont.) Cvr Energy Inc 4 14 37.240 30.220 0 0 0.0 0.0 -17.51 Dawson Geophysical C 29 30 4.970 6.740 0 0 0.0 0.0 35.61 Delek US Hldgs Inc N 84 84 34.940 40.700 3 3 0.2 0.2 17.11 Denbury Res Inc 42 90 2.210 2.740 0 0 0.0 0.0 23.98 Dht Holdings Inc 77 76 3.590 3.400 0 0 0.0 0.0 -4.80 Diamond Offshore Dri 35 34 18.590 14.660 1 0 0.0 0.0 -21.14 Dorian Lpg Ltd 9 18 8.220 7.490 0 0 0.0 0.0 -8.88 Dril-Quip Inc 43 42 47.700 44.800 2 2 0.1 0.1 -6.08 Earthstone Energy In 5 11 10.630 10.120 0 0 0.0 0.0 -4.80 Eclipse Res Corp 13 14 2.400 1.440 0 0 0.0 0.0 -40.00 Englobal Corp 1 0 0.880 0.832 0 0 0.0 0.0 -5.45 Enlink Midstream Llc 73 82 17.600 14.650 1 1 0.1 0.1 -15.58 Ensco Plc 336 429 5.910 4.390 2 2 0.1 0.1 -25.55 Era Group Inc 18 19 10.750 9.350 0 0 0.0 0.0 -13.02 Evolution Petroleum 21 23 6.850 8.050 0 0 0.0 0.0 18.97 Exterran Corp 29 28 31.440 26.700 1 1 0.1 0.0 -15.08 Extraction Oil and G 4 27 14.310 11.460 0 0 0.0 0.0 -19.92 Fairmount Santrol Hl 1 1 5.230 4.250 0 0 0.0 0.0 -18.74 Forum Energy Technol 111 111 15.550 11.000 2 1 0.1 0.1 -29.26 Franks Intl N V 20 20 6.650 5.430 0 0 0.0 0.0 -18.35 Gaslog Ltd 47 50 22.250 16.450 1 1 0.1 0.0 -25.46 Geospace Technologie 10 11 12.970 9.870 0 0 0.0 0.0 -23.90
13 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy (cont.) Green Plains Renewab 30 30 16.850 16.800 1 1 0.0 0.0 0.34 Gulf Island Fabricat 15 14 13.425 7.100 0 0 0.0 0.0 -47.11 Gulfport Energy Corp 143 173 12.760 9.650 2 2 0.1 0.1 -24.37 Halcon Res Corp 9 101 7.570 4.870 0 0 0.0 0.0 -35.67 Hallador Energy Comp 2 5 6.090 6.870 0 0 0.0 0.0 13.44 Helix Energy Solutio 182 178 7.540 5.790 1 1 0.1 0.1 -23.21 Highpoint Res Corp 0 78 5.130 5.080 0 0 0.0 0.0 NA Hornbeck Offshore Sv 22 22 3.110 2.910 0 0 0.0 0.0 -6.43 Independence Contrac 3 5 3.980 3.780 0 0 0.0 0.0 -5.03 International Seaway 3 9 18.460 17.600 0 0 0.0 0.0 -4.66 Ion Geophysical Corp 7 13 19.750 27.100 0 0 0.0 0.0 37.22 Kosmos Energy Ltd 374 366 6.850 6.300 3 2 0.1 0.1 -8.03 Laredo Pete Hldgs In 159 165 10.610 8.710 2 1 0.1 0.1 -17.91 Lonestar Res US Inc 1 3 3.970 4.340 0 0 0.0 0.0 9.32 Matador Res Co 105 113 31.130 29.910 3 3 0.2 0.2 -3.92 Matrix Svc Co 24 24 17.800 13.700 0 0 0.0 0.0 -23.03 McDermott Intl 288 282 6.580 6.090 2 2 0.1 0.1 -7.45 Mitcham Inds Inc 12 11 3.170 3.240 0 0 0.0 0.0 2.21 Nabors Industries Lt 379 371 6.830 6.990 3 3 0.1 0.1 3.19 Nacco Inds Inc 5 5 37.650 32.850 0 0 0.0 0.0 -12.40 Natural Gas Services 8 8 26.200 23.850 0 0 0.0 0.0 -8.97 Newpark Res Inc 134 131 8.600 8.100 1 1 0.1 0.1 -5.81
14 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy (cont.) Noble Corp Plc 270 264 4.520 3.710 1 1 0.1 0.1 -17.92 Oasis Pete Inc New 301 295 8.410 8.100 3 2 0.1 0.1 -3.69 Oceaneering Intl Inc 102 101 21.140 18.540 2 2 0.1 0.1 -12.30 Oil Sts Intl Inc 54 60 28.300 26.200 2 2 0.1 0.1 -7.42 Overseas Shipholding 18 20 2.740 2.840 0 0 0.0 0.0 3.65 Pacific Ethanol Inc 34 39 4.550 3.000 0 0 0.0 0.0 -34.07 Panhandle Royalty Co 13 13 20.550 19.300 0 0 0.0 0.0 -5.88 Par Pete Corp 19 21 19.280 17.170 0 0 0.0 0.0 -10.94 Parker Drilling Co 81 79 1.000 0.635 0 0 0.0 0.0 -36.50 Patterson Uti Energy 25 7 23.010 17.510 1 0 0.0 0.0 -23.82 Pbf Energy Inc 137 134 35.450 33.900 5 5 0.3 0.3 -3.43 Pdc Energy Inc 69 72 51.540 49.030 4 4 0.2 0.2 -4.87 Peabody Energy Corp 69 74 39.370 36.500 3 3 0.2 0.2 -7.03 Penn Va Corp New 1 6 39.110 35.040 0 0 0.0 0.0 -10.41 Phi Inc 12 11 11.570 10.240 0 0 0.0 0.0 -11.50 Pioneer Energy Svcs 120 119 3.050 2.700 0 0 0.0 0.0 -11.48 Qep Res Inc 118 216 9.570 9.790 1 2 0.1 0.1 2.30 RPC Energy Svcs Inc 0 18 25.530 18.030 0 0 0.0 0.0 NA Range Res Corp 0 175 17.060 14.540 0 3 0.0 0.1 NA Renewable Energy Gro 56 55 11.800 12.800 1 1 0.0 0.0 8.47 Resolute Energy Corp 2 2 31.470 34.650 0 0 0.0 0.0 10.10 Rex American Resourc 5 5 82.790 72.800 0 0 0.0 0.0 -12.07
15 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy (cont.) Rignet Inc 10 11 14.950 13.600 0 0 0.0 0.0 -9.03 Ring Energy Inc 45 52 13.900 14.350 1 1 0.0 0.0 3.24 Rowan Companies Plc 113 126 15.660 11.540 2 1 0.1 0.1 -26.31 Sanchez Energy Corp 17 16 5.310 3.130 0 0 0.0 0.0 -41.05 Sandridge Energy Inc 3 5 21.070 14.510 0 0 0.0 0.0 -31.13 Scorpio Tankers Inc 239 298 3.050 1.960 1 1 0.0 0.0 -35.45 Seacor Hldgs Inc 16 16 46.220 51.100 1 1 0.0 0.0 10.56 Seacor Marine Hldgs 11 13 11.700 19.020 0 0 0.0 0.0 62.56 Semgroup Corp 78 78 30.200 21.400 2 2 0.1 0.1 -27.57 Ship Finance Interna 52 51 15.500 14.300 1 1 0.0 0.0 -5.50 Sm Energy Co 109 110 22.080 18.030 2 2 0.1 0.1 -18.34 Smart Sand Inc 0 1 8.660 5.820 0 0 0.0 0.0 NA Southwestern Energy 370 424 5.580 4.330 2 2 0.1 0.1 -22.40 Src Energy Inc 334 327 8.530 9.430 3 3 0.2 0.2 10.55 Stone Energy Corp 7 14 32.160 37.100 0 1 0.0 0.0 15.36 Superior Energy Svcs 139 153 9.630 8.430 1 1 0.1 0.1 -12.46 Teekay Shipping Mars 2 0 9.320 8.090 0 0 0.0 0.0 -12.62 Teekay Tankers Ltd 9 9 1.400 1.190 0 0 0.0 0.0 -12.87 Tetra Technologies I 115 116 4.270 3.750 0 0 0.0 0.0 -12.18 Transocean Ltd Zug 27 292 10.680 9.900 0 3 0.0 0.2 -7.30 U S Silica Hldgs Inc 64 77 32.560 25.520 2 2 0.1 0.1 -21.44 Ultra Petroleum Corp 104 140 9.060 4.170 1 1 0.1 0.0 -53.97
16 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy (cont.) Unit Corp 61 60 22.000 19.760 1 1 0.1 0.1 -10.18 W & T Offshore Inc 98 133 3.310 4.430 0 1 0.0 0.0 33.84 Weatherford Intl Plc 186 0 4.170 2.290 1 0 0.0 0.0 -45.08 Westmoreland Coal Co 17 0 1.210 0.410 0 0 0.0 0.0 -66.12 Whiting Pete Corp Ne 47 92 26.480 33.840 1 3 0.1 0.2 27.79 Wildhorse Resource D 0 2 18.410 19.090 0 0 0.0 0.0 NA Willbros Group Inc D 50 26 1.420 0.553 0 0 0.0 0.0 -61.09 World Fuel Svcs Corp 29 38 28.140 24.550 1 1 0.0 0.1 -12.54 91 97 5.1 5.6 -9.74 Materials Advansix Inc 3 7 42.070 34.780 0 0 0.0 0.0 -17.33 Agrofresh Solutions 3 4 7.400 7.350 0 0 0.0 0.0 -0.68 Ak Stl Hldg Corp 314 308 5.660 4.530 2 1 0.1 0.1 -19.96 Allegheny Technologi 20 59 24.140 23.680 0 1 0.0 0.1 -1.91 American Vanguard Co 30 30 19.650 20.200 1 1 0.0 0.0 2.90 Ampco-Pittsburgh Cor 11 12 12.400 8.900 0 0 0.0 0.0 -28.23 Balchem Corp 32 31 80.600 81.750 3 3 0.1 0.1 1.43 Boise Cascade Co Del 44 43 39.900 38.600 2 2 0.1 0.1 -3.09 Cabot Corp 38 37 61.590 55.720 2 2 0.1 0.1 -9.08 Calgon Carbon Corp 55 0 21.300 21.500 1 0 0.1 0.0 1.17 Carpenter Technology 43 42 50.990 44.120 2 2 0.1 0.1 -13.13 Century Alum Co 100 108 19.640 16.540 2 2 0.1 0.1 -15.78
17 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) Chase Corp 6 6 120.500 116.450 1 1 0.0 0.0 -3.36 Clearwater Paper Cor 20 19 45.400 39.100 1 1 0.1 0.0 -13.88 Cleveland Cliffs Inc 340 333 7.210 6.950 2 2 0.1 0.1 -3.61 Coeur D Alene Mines 127 158 7.500 8.000 1 1 0.1 0.1 6.67 Commercial Metals Co 107 111 21.320 20.460 2 2 0.1 0.1 -3.58 Compass Minerals Int 36 35 72.250 60.300 3 2 0.1 0.1 -15.54 Core Matls Corp 6 6 21.700 17.830 0 0 0.0 0.0 -17.60 Deltic Timber Corp 12 0 91.550 NA 1 0 0.1 0.0 NA Domtar Corp 63 62 49.520 42.540 3 3 0.2 0.2 -13.22 Ferro Corp 87 85 23.590 23.220 2 2 0.1 0.1 -1.57 Ferroglobe Plc 92 91 16.200 10.730 1 1 0.1 0.1 -33.77 Flotek Inds Inc Del 51 60 4.660 6.100 0 0 0.0 0.0 30.90 Forterra Inc 0 5 11.100 8.320 0 0 0.0 0.0 NA Friedman Inds Inc 7 7 5.680 5.870 0 0 0.0 0.0 3.53 Fuller H B Co 54 53 53.870 49.730 3 3 0.2 0.2 -7.42 Futurefuel Corporati 29 31 14.090 11.990 0 0 0.0 0.0 -14.48 Gcp Applied Technolo 48 57 31.900 29.050 2 2 0.1 0.1 -8.93 Glatfelter P H Co 25 26 21.440 20.530 1 1 0.0 0.0 -3.67 Gold Resource Corp 25 31 4.400 4.510 0 0 0.0 0.0 2.62 Greif Inc 1 1 69.350 58.250 0 0 0.0 0.0 -15.11 Greif Inc 27 27 60.580 52.250 2 1 0.1 0.1 -13.06 Hawkins Inc 9 9 35.200 35.150 0 0 0.0 0.0 1.22
18 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) Haynes International 12 12 32.050 37.110 0 0 0.0 0.0 16.40 Hecla Mng Co 518 507 3.970 3.670 2 2 0.1 0.1 -7.49 Ingevity Corp 1 5 70.470 73.690 0 0 0.0 0.0 4.57 Innophos Holdings In 20 20 46.730 40.210 1 1 0.1 0.0 -12.98 Innospec Inc 28 28 70.600 68.600 2 2 0.1 0.1 -2.83 Intrepid Potash Inc 57 80 4.760 3.640 0 0 0.0 0.0 -23.53 Kaiser Aluminum Corp 16 16 106.850 100.900 2 2 0.1 0.1 -5.11 Kapstone Paper & Pac 106 104 22.690 34.310 2 4 0.1 0.2 51.65 Kmg-B Inc 23 23 66.080 59.950 2 1 0.1 0.1 -9.24 Koppers Holdings Inc 20 19 50.900 41.100 1 1 0.1 0.0 -19.25 Kraton Performance P 31 30 48.170 47.710 1 1 0.1 0.1 -0.95 Kronos Worldwide Inc 32 39 25.770 22.600 1 1 0.0 0.1 -11.64 LSB Inds Inc 19 18 8.760 6.130 0 0 0.0 0.0 -30.02 Louisiana Pac Corp 113 104 26.260 28.770 3 3 0.2 0.2 10.04 Materion Corp 18 17 48.600 51.050 1 1 0.0 0.0 5.25 McEwen Mng Inc 12 12 2.280 2.080 0 0 0.0 0.0 -8.57 Mercer Intl Inc 49 50 14.300 12.450 1 1 0.0 0.0 -12.06 Minerals Technologie 38 37 68.850 66.950 3 2 0.1 0.1 -2.69 Myers Inds Inc 53 53 19.500 21.150 1 1 0.1 0.1 9.13 Neenah Paper Inc 17 17 90.650 78.400 2 1 0.1 0.1 -13.07 Northern Tech Intl C 2 2 24.800 22.500 0 0 0.0 0.0 -8.87 Olympic Steel Inc 9 8 21.490 20.510 0 0 0.0 0.0 -4.48
19 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) Omnova Solutions Inc 82 81 10.000 10.500 1 1 0.0 0.0 5.00 Owens Ill Inc 6 77 22.170 21.660 0 2 0.0 0.1 -2.30 Platform Specialty P 60 150 9.920 9.630 1 1 0.0 0.1 -2.92 Polyone Corp 77 75 43.500 42.520 3 3 0.2 0.2 -1.85 Quaker Chem Corp 14 13 150.790 148.130 2 2 0.1 0.1 -1.54 Rayonier Advanced Ma 74 73 20.450 21.470 2 2 0.1 0.1 5.35 Resolute Fst Prods I 21 24 11.050 8.300 0 0 0.0 0.0 -24.89 Ryerson Hldg Corp 43 44 10.400 8.150 0 0 0.0 0.0 -21.63 Schnitzer Stl Inds 24 24 33.500 32.350 1 1 0.0 0.0 -2.88 Schulman A Inc 26 26 37.250 43.000 1 1 0.1 0.1 16.03 Schweitzer-Mauduit I 32 32 45.360 39.150 1 1 0.1 0.1 -12.73 Sensient Technologie 40 40 73.150 70.580 3 3 0.2 0.2 -3.05 Silgan Holdings Inc 42 61 29.390 27.850 1 2 0.1 0.1 -4.91 Stepan Chem Co 23 22 78.970 83.180 2 2 0.1 0.1 5.62 Summit Materials 40 61 31.440 30.280 1 2 0.1 0.1 -3.69 Suncoke Energy Inc 66 68 11.990 10.760 1 1 0.0 0.0 -10.26 Synalloy Corp 4 4 13.400 14.350 0 0 0.0 0.0 7.09 Timkensteel Corp 78 79 15.190 15.190 1 1 0.1 0.1 -0.00 Trecora Res 15 17 13.500 13.600 0 0 0.0 0.0 0.74 Tredegar Inds Inc 18 18 19.200 17.950 0 0 0.0 0.0 -5.95 Trinseo S A 32 32 72.600 74.050 2 2 0.1 0.1 2.48 Tronox Ltd 84 95 20.510 18.440 2 2 0.1 0.1 -9.89
20 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) U S Concrete Inc 16 17 83.650 60.400 1 1 0.1 0.1 -27.79 Ufp Technologies Inc 1 2 27.800 29.500 0 0 0.0 0.0 6.12 United States Lime & 4 4 77.100 73.180 0 0 0.0 0.0 -4.91 Universal Stainless 6 6 21.420 27.500 0 0 0.0 0.0 28.38 Valhi Inc New 4 4 6.170 6.060 0 0 0.0 0.0 -1.48 Verso Corp 3 18 17.570 16.840 0 0 0.0 0.0 -4.15 Worthington Inds Inc 66 65 44.060 42.920 3 3 0.2 0.2 -2.13 97 95 5.4 5.4 -4.13 Industrials Aaon Inc 52 51 36.700 39.000 2 2 0.1 0.1 6.27 Aar Corp 28 27 39.290 44.110 1 1 0.1 0.1 12.47 Abm Inds Inc 71 70 37.720 33.480 3 2 0.2 0.1 -10.83 Acacia Resh Corp 31 31 4.050 3.500 0 0 0.0 0.0 -13.58 Acco Brands Corp 101 99 12.200 12.550 1 1 0.1 0.1 3.36 Acme Utd Corp 1 1 23.400 20.840 0 0 0.0 0.0 -10.05 Actuant Corp 60 59 25.300 23.250 2 1 0.1 0.1 -8.10 Advanced Drain Sys I 16 17 23.850 25.900 0 0 0.0 0.0 8.89 Aegion Corp 26 26 25.430 22.910 1 1 0.0 0.0 -9.91 Aerojet Rocketdyne H 71 70 31.200 27.970 2 2 0.1 0.1 -10.35 Aerovironment Inc 39 38 56.160 45.510 2 2 0.1 0.1 -18.96 Air Lease Corp 3 0 48.090 42.620 0 0 0.0 0.0 -11.17 Air Trans Hldgs Inc 61 69 23.140 23.320 1 2 0.1 0.1 0.78
21 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Aircastle Ltd 62 72 23.390 19.860 1 1 0.1 0.1 -13.88 Alamo Group Inc 9 9 112.870 109.900 1 1 0.1 0.1 -2.54 Albany Intl Corp 31 30 61.450 62.700 2 2 0.1 0.1 2.29 Allegiant Travel Co 16 16 154.750 172.550 2 3 0.1 0.2 11.98 Allied Motion Techno 12 12 33.090 39.750 0 0 0.0 0.0 20.21 Alpha Pro Tech Ltd 2 2 4.000 3.350 0 0 0.0 0.0 -16.25 Altra Holdings Inc 28 27 50.400 45.950 1 1 0.1 0.1 -8.50 Ameresco Inc 11 13 8.600 13.000 0 0 0.0 0.0 51.16 American Railcar Ind 12 11 41.640 37.410 0 0 0.0 0.0 -9.21 American Woodmark Co 17 17 130.250 98.450 2 2 0.1 0.1 -24.41 Amrep Corp New 1 1 7.000 7.190 0 0 0.0 0.0 2.71 Apogee Enterprises 31 31 45.730 43.350 1 1 0.1 0.1 -4.88 Applied Indl Technol 42 41 68.100 72.900 3 3 0.2 0.2 7.50 Arc Document Solutio 51 54 2.550 2.200 0 0 0.0 0.0 -13.73 Arcbest Corp 20 20 35.750 32.050 1 1 0.0 0.0 -10.13 Argan Inc 18 18 45.000 42.950 1 1 0.0 0.0 -4.56 Armstrong Flooring I 27 27 16.920 13.570 0 0 0.0 0.0 -19.80 Armstrong World Inds 55 54 60.550 56.300 3 3 0.2 0.2 -7.02 Arotech Corp 15 18 3.550 3.050 0 0 0.0 0.0 -14.08 Asgn Inc 0 52 64.270 81.880 0 4 0.0 0.2 NA Astec Inds Inc 25 25 58.500 55.180 1 1 0.1 0.1 -5.52 Astronics Corp 19 19 41.470 37.300 1 1 0.0 0.0 -10.06
22 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Atkore Intl Group In 10 16 21.450 19.850 0 0 0.0 0.0 -7.46 Atlas Air Worldwide 20 19 58.650 60.450 1 1 0.1 0.1 3.07 Avalon Hldgs Corp 4 4 2.000 2.200 0 0 0.0 0.0 10.01 Avis Budget Group 41 42 43.880 46.840 2 2 0.1 0.1 6.75 Axon Enterprise Inc 51 50 26.500 39.310 1 2 0.1 0.1 48.34 Azz Inc 28 28 51.100 43.700 1 1 0.1 0.1 -14.14 Babcock & Wilcox Ent 34 34 5.680 4.370 0 0 0.0 0.0 -23.06 Barnes Group Inc 56 55 63.270 59.890 4 3 0.2 0.2 -5.14 Barrett Business Ser 10 10 64.490 82.880 1 1 0.0 0.0 28.89 Beacon Roofing Suppl 71 69 63.760 53.070 5 4 0.3 0.2 -16.77 Bg Staffing Inc 0 1 15.940 18.990 0 0 0.0 0.0 NA Blue Bird Corp 3 5 19.900 23.700 0 0 0.0 0.0 19.10 Bluelinx Hldgs Inc 6 9 9.760 32.590 0 0 0.0 0.0 233.91 Bmc Stk Hldgs Inc 29 33 25.300 19.550 1 1 0.0 0.0 -22.73 Brady Corporation 47 46 37.900 37.150 2 2 0.1 0.1 -1.45 Briggs & Stratton Co 32 32 25.370 21.410 1 1 0.0 0.0 -15.08 Brinks Co 49 48 78.700 71.350 4 3 0.2 0.2 -9.16 Broadwind Energy Inc 2 2 2.720 2.200 0 0 0.0 0.0 -19.12 Builders Firstsource 110 108 21.790 19.840 2 2 0.1 0.1 -8.95 Cai International In 17 22 28.320 21.260 0 0 0.0 0.0 -24.93 Casella Waste Sys In 83 81 23.020 23.380 2 2 0.1 0.1 1.56 Cbiz Inc 45 44 15.450 18.250 1 1 0.0 0.0 18.12
23 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Ceco Environmental C 38 39 5.130 4.450 0 0 0.0 0.0 -13.26 Celadon Group Inc 19 18 6.400 3.700 0 0 0.0 0.0 -42.19 Chart Inds Inc 52 51 46.860 59.030 2 3 0.1 0.2 25.97 Chicago Bridge & Iro 32 31 16.140 14.400 1 0 0.0 0.0 -10.78 Cimpress N V 33 32 119.880 154.700 4 5 0.2 0.3 29.05 Circor Intl Inc 19 19 48.680 42.660 1 1 0.1 0.0 -12.37 Civeo Corp Cda 10 25 2.730 3.770 0 0 0.0 0.0 38.10 Clean Harbors Inc 54 53 54.200 48.810 3 3 0.2 0.1 -9.94 Colfax Corp 0 18 39.620 31.900 0 1 0.0 0.0 NA Columbus McKinnon Co 20 19 39.980 35.840 1 1 0.0 0.0 -10.25 Comfort Sys Usa Inc 39 38 43.650 41.250 2 2 0.1 0.1 -5.33 Commercial Veh Group 53 60 10.690 7.750 1 0 0.0 0.0 -27.50 Compx International 1 1 13.300 13.800 0 0 0.0 0.0 4.13 Continental Bldg Pro 43 42 28.150 28.550 1 1 0.1 0.1 1.42 Copa Holdings Sa 1 0 134.060 128.630 0 0 0.0 0.0 -3.43 Costamare Inc 10 23 5.770 6.240 0 0 0.0 0.0 9.87 Covanta Hldg Corp 147 144 16.900 14.500 2 2 0.1 0.1 -12.71 Covenant Trans Inc 16 17 28.730 29.830 0 1 0.0 0.0 3.83 Cpi Aerostructures I 10 10 8.950 9.750 0 0 0.0 0.0 8.94 Cra Intl Inc 6 6 44.950 52.290 0 0 0.0 0.0 16.71 Csw Industrials Inc 5 7 45.950 45.050 0 0 0.0 0.0 -1.96 Cubic Corp 28 28 58.950 63.600 2 2 0.1 0.1 8.13
24 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Curtiss Wright Corp 16 11 121.850 135.070 2 1 0.1 0.1 10.98 De Luxe Check Printe 42 43 76.840 74.010 3 3 0.2 0.2 -3.28 Dmc Global Inc 14 14 25.050 26.750 0 0 0.0 0.0 6.86 Douglas Dynamics Inc 32 31 37.800 43.350 1 1 0.1 0.1 15.35 Ducommun Inc Del 10 10 28.450 30.380 0 0 0.0 0.0 6.78 Dxp Enterprises Inc 26 26 29.570 38.950 1 1 0.0 0.1 31.72 Dycom Inds Inc 34 34 111.430 107.630 4 4 0.2 0.2 -3.41 Eastern Co 3 3 26.150 28.500 0 0 0.0 0.0 9.46 Echo Global Logistic 33 37 28.000 27.600 1 1 0.1 0.1 -1.43 Ecology & Environmen 1 1 10.500 11.600 0 0 0.0 0.0 12.51 Emcor Group Inc 42 37 81.750 77.930 3 3 0.2 0.2 -4.58 Encore Wire Corp 17 16 48.650 56.700 1 1 0.0 0.1 16.59 Enersys 45 45 69.630 69.370 3 3 0.2 0.2 -0.13 Engility Hldgs Inc N 19 19 28.370 24.400 1 0 0.0 0.0 -13.99 Ennis Business Forms 15 15 20.750 19.700 0 0 0.0 0.0 -3.70 Enpro Inds Inc 22 22 93.510 77.380 2 2 0.1 0.1 -16.98 Envirostar Inc 1 1 40.000 39.250 0 0 0.0 0.0 -1.88 Esco Technologies In 22 21 60.250 58.550 1 1 0.1 0.1 -2.69 Espey Mfg & Electrs 1 1 23.962 26.200 0 0 0.0 0.0 10.37 Essendant Inc 43 44 9.270 7.800 0 0 0.0 0.0 -14.34 Esterline Technologi 29 29 74.700 73.150 2 2 0.1 0.1 -2.07 Exponet Inc 26 26 71.100 78.650 2 2 0.1 0.1 11.00
25 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Federal Signal Corp 73 72 20.090 22.020 1 2 0.1 0.1 9.96 Forrester Resh Inc 19 19 44.200 41.450 1 1 0.0 0.0 -5.77 Forward Air Corp 32 32 57.440 52.860 2 2 0.1 0.1 -7.72 Foster L B Co 10 11 27.150 23.550 0 0 0.0 0.0 -13.26 Franklin Covey Co 15 14 20.750 26.900 0 0 0.0 0.0 29.64 Franklin Elec Inc 49 48 45.900 40.750 2 2 0.1 0.1 -11.01 Freightcar Amer Inc 12 12 17.080 13.400 0 0 0.0 0.0 -21.55 Fti Consulting Inc 42 41 42.960 48.410 2 2 0.1 0.1 12.69 Fuelcell Energy Inc 1 0 1.700 1.730 0 0 0.0 0.0 1.76 Gatx Corp 30 34 62.160 68.490 2 2 0.1 0.1 10.90 Gencor Inds Inc 5 7 16.550 16.100 0 0 0.0 0.0 -2.72 Generac Hldgs Inc 67 65 49.520 45.910 3 3 0.2 0.2 -7.29 General Cable Corp D 18 18 29.600 29.600 1 1 0.0 0.0 0.61 Gibraltar Inds Inc 27 27 33.000 33.850 1 1 0.1 0.1 2.58 Global Brass & Coppr 28 28 33.100 33.450 1 1 0.1 0.1 1.27 Gms Inc 4 9 37.640 30.560 0 0 0.0 0.0 -18.81 Goldfield Corp 52 53 4.900 3.850 0 0 0.0 0.0 -21.43 Gorman Rupp Co 38 38 31.210 29.250 1 1 0.1 0.1 -5.85 Gp Strategies Corp 19 19 23.200 22.650 0 0 0.0 0.0 -2.37 Graham Corp 7 10 20.930 21.420 0 0 0.0 0.0 2.79 Granite Constr Inc 51 49 63.430 55.860 3 3 0.2 0.2 -11.72 Great Lakes Dredge & 59 57 5.400 4.600 0 0 0.0 0.0 -14.81
26 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Greenbrier Cos Inc 21 20 53.300 50.250 1 1 0.1 0.1 -5.30 Griffon Corp 28 27 20.350 18.250 1 0 0.0 0.0 -5.04 H & E Equipment Serv 46 45 40.650 38.490 2 2 0.1 0.1 -4.63 Hardinge Inc 11 10 17.420 18.320 0 0 0.0 0.0 5.17 Harsco Corp 65 66 18.650 20.650 1 1 0.1 0.1 10.72 Hawaiian Holdings In 60 59 39.850 38.700 2 2 0.1 0.1 -2.59 Hc2 Hldgs Inc 1 1 5.950 5.260 0 0 0.0 0.0 -11.60 Health Care Group In 51 50 52.720 43.480 3 2 0.2 0.1 -17.21 Heartland Express In 86 85 23.340 17.990 2 2 0.1 0.1 -22.84 Heidrick & Struggles 20 21 24.550 31.250 0 1 0.0 0.0 27.91 Herc Hldgs Inc 21 20 62.610 64.950 1 1 0.1 0.1 3.74 Heritage Crystal Cle 6 11 21.750 23.550 0 0 0.0 0.0 8.28 Hertz Global Holding 43 72 22.100 19.850 1 1 0.1 0.1 -10.18 Hill International I 53 61 5.450 5.700 0 0 0.0 0.0 4.59 Hillenbrand Inc 63 62 44.700 45.900 3 3 0.2 0.2 3.15 Hni Corp 45 44 38.570 36.090 2 2 0.1 0.1 -5.75 Houston Wire & Cable 19 20 7.200 7.325 0 0 0.0 0.0 1.74 Hub Group Inc 37 37 47.900 41.850 2 2 0.1 0.1 -12.63 Hudson Global Inc 12 12 2.250 1.940 0 0 0.0 0.0 -13.78 Hudson Technologies 86 84 6.070 4.940 1 0 0.0 0.0 -18.62 Hurco Mfg Inc 5 5 42.200 45.900 0 0 0.0 0.0 9.29 Huron Consulting Gro 22 22 40.450 38.100 1 1 0.1 0.0 -5.81
27 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Huttig Bldg Prods In 13 13 6.650 5.230 0 0 0.0 0.0 -21.35 Hyster Yale Matls Ha 13 13 85.160 69.930 1 1 0.1 0.1 -17.54 Icf Intl Inc 16 15 52.500 58.450 1 1 0.0 0.1 11.60 Ies Hldgs Inc 24 24 17.250 15.150 0 0 0.0 0.0 -12.17 Innerworkings Inc 97 97 10.030 9.050 1 1 0.1 0.1 -9.77 Innovative Solutions 5 5 2.940 3.530 0 0 0.0 0.0 20.07 Insperity Inc 47 46 57.350 69.550 3 3 0.2 0.2 21.62 Insteel Inds Inc 40 39 28.320 27.630 1 1 0.1 0.1 -2.33 Interface Inc 66 65 25.150 25.200 2 2 0.1 0.1 0.46 Intersections Inc 9 6 2.260 1.630 0 0 0.0 0.0 -27.88 Itt Inc 11 11 53.370 48.980 1 1 0.0 0.0 -7.99 Jeld-Wen Hldg Inc 0 11 39.370 30.620 0 0 0.0 0.0 NA John Bean Technologi 31 31 110.800 113.400 3 4 0.2 0.2 2.44 Kadant Inc 5 7 100.400 94.500 1 1 0.0 0.0 -5.67 Kaman Corp 29 29 58.840 62.120 2 2 0.1 0.1 5.91 Kbr Inc 173 169 19.830 16.190 3 3 0.2 0.2 -17.96 Kelly Svcs Inc 25 25 27.270 29.040 1 1 0.0 0.0 6.76 Kennametal Inc 80 78 48.410 40.160 4 3 0.2 0.2 -16.65 Key Technology Inc 2 0 18.430 26.740 0 0 0.0 0.0 45.09 Keyw Hldg Corp 9 22 5.870 7.860 0 0 0.0 0.0 33.90 Kforce Com Inc 48 48 25.250 27.050 1 1 0.1 0.1 7.58 Kimball Intl Inc 71 70 18.670 17.040 1 1 0.1 0.1 -8.36
28 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Kirby Expl Co. 43 26 66.800 76.950 3 2 0.2 0.1 15.19 Klx Inc 58 57 68.250 71.060 4 4 0.2 0.2 4.12 Knight Swift Transn 149 33 43.720 46.010 7 2 0.4 0.1 5.37 Knoll Inc 53 52 23.040 20.190 1 1 0.1 0.1 -11.77 Korn Ferry Intl 65 64 41.380 51.590 3 3 0.2 0.2 24.93 Kratos Defense & Sec 153 150 10.590 10.290 2 2 0.1 0.1 -2.83 LSI Inds Inc 26 27 6.880 8.110 0 0 0.0 0.0 18.62 Landstar Sys Inc 26 24 104.100 109.650 3 3 0.2 0.2 6.94 Lawson Prods Inc 9 9 24.750 25.250 0 0 0.0 0.0 2.02 Layne Inc 14 14 12.550 14.920 0 0 0.0 0.0 18.88 Limbach Hldgs Inc 6 6 13.830 12.380 0 0 0.0 0.0 -10.48 Lindsay Mfg Co 8 8 88.200 91.440 1 1 0.0 0.0 4.01 Lsc Communications I 23 29 15.150 17.450 0 1 0.0 0.0 17.58 Lydall Inc 14 14 50.750 48.250 1 1 0.0 0.0 -4.93 Macquarie Infrastruc 0 21 64.200 36.930 0 1 0.0 0.0 NA Manitek Intl Inc 1 5 9.600 11.430 0 0 0.0 0.0 19.06 Manitowoc Co Inc 56 56 39.340 28.460 2 2 0.1 0.1 -27.66 Marten Trans Ltd 39 39 20.300 22.800 1 1 0.0 0.1 12.43 Masonite Intl Corp N 5 8 74.150 61.350 0 0 0.0 0.0 -17.26 Mastec Inc 77 72 48.950 47.050 4 3 0.2 0.2 -3.88 Mastech Holdings Inc 0 1 10.060 12.340 0 0 0.0 0.0 NA Matson Inc 45 44 29.840 28.640 1 1 0.1 0.1 -3.48
29 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Matthews Intl Corp 35 34 52.800 50.600 2 2 0.1 0.1 -3.83 Maxar Technologies L 12 0 64.320 46.250 1 0 0.0 0.0 -27.64 McGrath Rentcorp 19 19 46.980 53.690 1 1 0.1 0.1 14.88 Mercury Computer Sys 44 43 51.350 48.320 2 2 0.1 0.1 -5.90 Meritor Inc 136 133 23.460 20.560 3 3 0.2 0.2 -12.36 Milacron Hldgs Corp 7 14 19.140 20.140 0 0 0.0 0.0 5.22 Miller Herman Inc 62 61 40.050 31.950 2 2 0.1 0.1 -19.83 Miller Inds Inc Tenn 8 8 25.800 25.000 0 0 0.0 0.0 -2.40 Mistras Group Inc 28 29 23.470 18.940 1 1 0.0 0.0 -19.30 Mobile Mini 42 41 34.500 43.500 1 2 0.1 0.1 26.83 Moog Inc 'a' 32 31 86.850 82.410 3 3 0.2 0.1 -5.11 Moog Inc 'b' 1 1 88.740 80.520 0 0 0.0 0.0 -9.26 Mrc Global Inc 124 122 16.920 16.440 2 2 0.1 0.1 -2.84 Msa Safety Inc 38 37 77.520 83.240 3 3 0.2 0.2 7.88 Mueller Inds Inc 60 59 35.430 26.160 2 2 0.1 0.1 -25.90 Mueller Wtr Prods In 204 206 12.530 10.870 3 2 0.1 0.1 -12.85 Multi Color Corp 17 17 74.850 66.050 1 1 0.1 0.1 -11.69 Myr Group Inc Del 18 18 35.730 30.820 1 1 0.0 0.0 -13.74 NL Inds Inc 35 36 14.250 7.850 0 0 0.0 0.0 -44.91 National Presto Inds 3 3 99.450 93.750 0 0 0.0 0.0 0.50 Navigant Consulting 40 39 19.410 19.240 1 1 0.0 0.0 -0.88 Navistar Intl Corp N 45 48 42.880 34.970 2 2 0.1 0.1 -18.45
30 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Nci Building Sys Inc 38 41 19.300 17.700 1 1 0.0 0.0 -8.29 Nexeo Solutions Inc 1 1 9.100 10.700 0 0 0.0 0.0 17.58 Nn Inc 27 26 27.600 24.000 1 1 0.0 0.0 -12.80 Northwest Pipe Co 12 12 19.140 17.300 0 0 0.0 0.0 -9.61 Now Inc 110 113 11.030 10.220 1 1 0.1 0.1 -7.34 Nv5 Hldgs Inc 11 12 54.150 55.750 1 1 0.0 0.0 2.95 Omega Flex Inc 5 5 71.410 65.100 0 0 0.0 0.0 -8.84 On Assignment Inc 53 0 64.270 81.880 3 0 0.2 0.0 27.40 Orion Marine Group I 22 24 7.830 6.590 0 0 0.0 0.0 -15.84 P A M Transn Svcs In 3 3 34.780 36.350 0 0 0.0 0.0 4.51 Park Ohio Hldgs Corp 12 12 45.950 38.850 1 0 0.0 0.0 -15.19 Patrick Inds Inc 25 24 69.450 61.850 2 1 0.1 0.1 -10.94 Patriot Transn Hldg 1 1 17.590 18.560 0 0 0.0 0.0 5.51 Performant Finl Corp 26 27 1.650 3.000 0 0 0.0 0.0 81.82 Perma Pipe Intl Hldg 4 4 9.000 9.050 0 0 0.0 0.0 0.56 Pgt Inc 93 91 16.850 18.650 2 2 0.1 0.1 10.68 Pitney Bowes Inc 116 128 11.180 10.890 1 1 0.1 0.1 -1.11 Ply Gem Hldgs Inc 31 30 18.500 21.600 1 1 0.0 0.0 16.76 Powell Inds Inc 10 11 28.650 26.840 0 0 0.0 0.0 -5.44 Preformed Line Prods 3 3 71.050 65.090 0 0 0.0 0.0 -8.11 Primoris Svcs Corp 52 51 27.190 24.980 1 1 0.1 0.1 -7.90 Proto Labs Inc 22 22 103.000 117.550 2 3 0.1 0.1 14.13
31 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Quad / Graphics Inc 18 19 22.600 25.350 0 0 0.0 0.0 13.43 Quanex Building Prod 36 35 23.400 17.400 1 1 0.0 0.0 -25.48 Radiant Logistics In 31 34 4.600 3.870 0 0 0.0 0.0 -15.87 Raven Inds Inc 36 38 34.350 35.050 1 1 0.1 0.1 2.40 Rbc Bearings Inc 26 26 126.400 124.200 3 3 0.2 0.2 -1.74 Rcm Technologies Inc 15 15 6.290 5.770 0 0 0.0 0.0 -8.27 Regal Beloit Corp 36 45 76.600 73.350 3 3 0.2 0.2 -3.89 Resources Connection 34 35 15.450 16.200 1 1 0.0 0.0 5.68 Rev Group Inc 0 3 32.530 20.760 0 0 0.0 0.0 NA Rexnord Corp New 107 104 26.020 29.680 3 3 0.2 0.2 14.07 Roadrunner Trnsn Svc 24 24 7.710 2.540 0 0 0.0 0.0 -67.06 Rpx Corp 42 41 13.440 10.690 1 0 0.0 0.0 -20.10 Rush Enterpises Inc 5 5 48.210 40.380 0 0 0.0 0.0 -16.24 Rush Enterpises Inc 24 25 50.810 42.490 1 1 0.1 0.1 -16.37 Ryder Sys Inc 1 0 84.170 72.790 0 0 0.0 0.0 -12.93 SPX Corp 25 27 31.390 32.480 1 1 0.0 0.1 3.47 Saia Inc 25 24 70.750 75.150 2 2 0.1 0.1 6.22 Scorpio Bulkers Inc 12 24 7.400 7.050 0 0 0.0 0.0 -4.49 Sifco Inds Inc 2 2 6.650 5.522 0 0 0.0 0.0 -16.97 Simpson Manufacturin 50 49 57.410 57.590 3 3 0.2 0.2 0.68 Sino Global Shipping 6 6 2.560 1.120 0 0 0.0 0.0 -56.25 Siteone Landscape Su 0 5 76.700 77.040 0 0 0.0 0.0 NA
32 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Skywest Inc 35 35 53.100 54.400 2 2 0.1 0.1 2.64 Sp Plus Corp 22 22 37.100 35.600 1 1 0.0 0.0 -4.04 Spartan Mtrs Inc 39 51 15.750 17.200 1 1 0.0 0.1 9.21 Sparton Corp 14 14 23.060 17.410 0 0 0.0 0.0 -24.50 Spirit Airls Inc 51 72 44.850 37.780 2 3 0.1 0.2 -15.76 Spx Flow Inc 40 39 47.550 49.190 2 2 0.1 0.1 3.45 Standex Intl Corp 14 13 101.850 95.350 1 1 0.1 0.1 -6.21 Starrett L S Co 3 3 8.600 6.750 0 0 0.0 0.0 -21.51 Steelcase Inc 91 89 15.200 13.600 1 1 0.1 0.1 -9.64 Sterling Constructio 42 43 16.280 11.460 1 0 0.0 0.0 -29.61 Sun Hydraulics Corp 26 26 64.690 53.560 2 1 0.1 0.1 -17.09 Team Inc 31 32 14.900 13.750 0 0 0.0 0.0 -7.72 Tel Instr Electrs Co 1 0 2.600 2.400 0 0 0.0 0.0 -7.69 Tennant Co 19 18 72.650 67.700 1 1 0.1 0.1 -6.53 Terex Corp New 122 114 48.220 37.410 6 4 0.3 0.2 -22.22 Tetra Tech Inc New 69 67 48.150 48.950 3 3 0.2 0.2 1.88 Textainer Group Hold 23 23 21.500 16.950 0 0 0.0 0.0 -21.16 Thermon Group Hldgs 38 38 23.670 22.410 1 1 0.1 0.0 -5.32 Timken Co 63 67 49.150 45.600 3 3 0.2 0.2 -6.67 Titan Intl Inc Ill 61 64 12.880 12.610 1 1 0.0 0.0 -2.06 Titan Machy Inc 18 22 21.170 23.560 0 1 0.0 0.0 11.29 Tpi Composites Inc 11 18 20.460 22.450 0 0 0.0 0.0 9.73
33 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Transcat Inc 1 1 14.250 15.650 0 0 0.0 0.0 9.82 Trex Inc 31 30 108.390 108.770 3 3 0.2 0.2 0.35 Trimas Corp 44 43 26.750 26.250 1 1 0.1 0.1 -1.87 Trinet Group Inc 29 38 44.340 46.320 1 2 0.1 0.1 4.47 Triton Intl Ltd 64 72 37.450 30.600 2 2 0.1 0.1 -17.08 Triumph Group Inc Ne 48 49 27.200 25.200 1 1 0.1 0.1 -7.22 Trueblue Inc 46 45 27.500 25.900 1 1 0.1 0.1 -5.82 Tutor Perini Corp 39 38 25.350 22.050 1 1 0.1 0.0 -13.02 Twin Disc Inc 12 13 26.570 21.740 0 0 0.0 0.0 -18.18 US Ecology Inc 22 22 51.000 53.300 1 1 0.1 0.1 4.87 USA Truck Inc 9 9 18.130 25.490 0 0 0.0 0.0 40.60 Ultralife Batteries 9 10 6.550 10.000 0 0 0.0 0.0 52.67 Unifirst Corp Mass 18 18 164.900 161.650 3 3 0.2 0.2 -1.95 Universal Fst Prods 59 59 37.620 32.450 2 2 0.1 0.1 -13.74 Universal Truckload 10 13 23.750 21.150 0 0 0.0 0.0 -10.66 VSE Corp 6 7 48.430 51.720 0 0 0.0 0.0 6.94 Valmont Inds Inc 24 23 165.850 146.300 4 3 0.2 0.2 -11.56 Vectrus Inc 14 14 30.850 37.240 0 1 0.0 0.0 20.71 Veritiv Corp 7 9 28.900 39.200 0 0 0.0 0.0 35.64 Vicor Corp 11 11 20.900 28.550 0 0 0.0 0.0 36.60 Virco Mfg Co 3 3 5.050 4.100 0 0 0.0 0.0 -18.54 Volt Information Sci 15 17 3.800 3.050 0 0 0.0 0.0 -19.74
34 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Wabash Natl Corp 78 76 21.700 20.810 2 2 0.1 0.1 -3.76 Wageworks Inc 10 19 62.000 45.200 1 1 0.0 0.0 -27.10 Watsco Inc 1 1 169.000 180.270 0 0 0.0 0.0 7.43 Watts Water Tech 28 28 75.950 77.700 2 2 0.1 0.1 2.56 Welbilt Inc 167 164 23.510 19.450 4 3 0.2 0.2 -17.27 Werner Enterprises I 100 98 38.650 36.500 4 4 0.2 0.2 -5.56 Wesco Aircraft Hldgs 83 87 7.400 10.250 1 1 0.0 0.1 38.51 Wesco Intl Inc 50 51 68.150 62.050 3 3 0.2 0.2 -8.95 Willdan Group Inc 19 19 23.940 28.350 0 1 0.0 0.0 18.42 Willis Lease Finance 3 3 24.970 34.280 0 0 0.0 0.0 37.28 Xerium Technologies 9 12 4.260 6.450 0 0 0.0 0.0 51.41 Yrc Worldwide Inc 72 70 14.380 8.830 1 1 0.1 0.0 -38.60 362 346 20.1 19.8 -2.98 Consumer Discretionary 1 800 Flowers Com 60 59 10.700 11.800 1 1 0.0 0.0 10.28 A H Belo Corp 17 17 4.800 5.150 0 0 0.0 0.0 9.01 Aaron Rents Inc 72 71 39.850 46.600 3 3 0.2 0.2 17.01 Abercrombie & Fitch 61 61 17.430 24.210 1 1 0.1 0.1 40.14 Acushnet Holdings Co 1 2 21.080 23.090 0 0 0.0 0.0 10.13 Adtalem Global Ed In 62 61 42.050 47.550 3 3 0.1 0.2 13.08 Amc Entmt Hldgs Inc 33 32 15.100 14.050 0 0 0.0 0.0 -5.77 Amc Networks Inc 2 13 54.080 51.700 0 1 0.0 0.0 -4.40
35 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) American Axle & Mfg 118 118 17.030 15.220 2 2 0.1 0.1 -10.63 American Eagle Outfi 204 200 18.800 19.930 4 4 0.2 0.2 6.01 American Outdoor Bra 52 51 12.840 10.320 1 1 0.0 0.0 -19.63 American Public Educ 15 18 25.050 43.000 0 1 0.0 0.0 71.66 Americas Car Mart In 12 12 44.650 50.450 1 1 0.0 0.0 12.99 Ark Restaurants Corp 2 2 27.020 24.000 0 0 0.0 0.0 -10.29 Asbury Automotive Gr 24 23 64.000 67.500 2 2 0.1 0.1 5.47 Ascena Retail Group 182 191 2.350 2.010 0 0 0.0 0.0 -14.47 Ascent Media Corp 10 12 11.490 3.680 0 0 0.0 0.0 -67.97 At Home Group Inc 1 2 30.390 32.040 0 0 0.0 0.0 5.43 Av Homes Inc 8 10 16.650 18.550 0 0 0.0 0.0 11.41 Ballantyne Omaha Inc 12 11 4.650 4.450 0 0 0.0 0.0 -4.30 Barnes & Noble Ed In 47 48 8.240 6.890 0 0 0.0 0.0 -16.38 Barnes & Nobles Inc 70 69 6.700 4.950 0 0 0.0 0.0 -24.41 Bassett Furniture In 15 15 37.600 30.350 1 0 0.0 0.0 -19.00 Bbx Cap Corp New 10 11 7.970 9.210 0 0 0.0 0.0 15.68 Beasley Broadcast Gr 8 7 13.400 11.300 0 0 0.0 0.0 -15.29 Beazer Homes Usa Inc 6 6 19.210 15.950 0 0 0.0 0.0 -16.97 Bed Bath & Beyond In 76 129 21.990 20.990 2 3 0.1 0.2 -3.89 Belmond Ltd 88 86 12.250 11.150 1 1 0.1 0.1 -8.98 Big 5 Sporting Goods 22 22 7.600 7.250 0 0 0.0 0.0 -2.24 Big Lots Inc 55 53 56.150 43.530 3 2 0.2 0.1 -21.95
36 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Bjs Restaurants Inc 28 27 36.400 44.900 1 1 0.1 0.1 23.66 Bloomin Brands Inc 123 121 21.340 24.280 3 3 0.1 0.2 14.21 Blue Apron Hldgs Inc 0 1 4.030 2.000 0 0 0.0 0.0 NA Bojangles Inc 17 27 11.800 13.850 0 0 0.0 0.0 17.37 Boot Barn Hldgs Inc 13 30 16.610 17.730 0 1 0.0 0.0 6.74 Bowl Amer Inc 1 1 15.000 14.800 0 0 0.0 0.0 -0.23 Boyd Gaming Corp 1 0 35.050 31.860 0 0 0.0 0.0 -8.96 Bravo Brio Restauran 16 17 2.500 4.000 0 0 0.0 0.0 60.00 Bridgepoint Ed Inc 41 40 8.300 6.740 0 0 0.0 0.0 -18.80 Brinker Intl Inc 68 66 38.840 36.100 3 2 0.1 0.1 -6.08 Buckle Inc 23 23 23.750 22.150 1 1 0.0 0.0 1.94 Buffalo Wild Wings I 19 0 156.350 NA 3 0 0.2 0.0 NA Build A Bear Worksho 15 15 9.200 9.150 0 0 0.0 0.0 -0.54 CSS Inds Inc 3 4 27.830 17.500 0 0 0.0 0.0 -36.44 Cable One Inc 0 2 703.350 687.110 0 1 0.0 0.1 NA Caleres Inc 47 46 33.480 33.600 2 2 0.1 0.1 0.58 Callaway Golf Co 138 135 13.930 16.360 2 2 0.1 0.1 17.52 Cambium Learning Grp 41 46 5.680 11.200 0 1 0.0 0.0 97.18 Capella Education Co 12 12 77.400 87.350 1 1 0.1 0.1 13.41 Career Education Cor 129 126 12.080 13.140 2 2 0.1 0.1 8.77 Carriage Svcs Inc 24 23 25.710 27.660 1 1 0.0 0.0 7.90 Carrols Restaurant G 66 65 12.150 11.200 1 1 0.0 0.0 -7.82
37 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Cato Corp New 22 22 15.920 14.740 0 0 0.0 0.0 -4.88 Cavco Inds Inc Del 10 10 152.600 173.750 2 2 0.1 0.1 13.86 Central European Med 12 12 4.650 4.200 0 0 0.0 0.0 -9.68 Century Casinos Inc 3 3 9.130 7.460 0 0 0.0 0.0 -18.29 Century Cmntys Inc 12 21 31.100 29.950 0 1 0.0 0.0 -3.70 Cheesecake Factory I 50 52 48.180 48.220 2 3 0.1 0.1 0.70 Cherokee Inc Del New 16 16 1.900 1.300 0 0 0.0 0.0 -31.58 Chicos Fas Inc 125 124 8.820 9.040 1 1 0.1 0.1 3.50 Childrens Pl Retail 28 27 145.350 135.250 4 4 0.2 0.2 -6.95 Choice Hotels Intl I 50 47 77.600 80.150 4 4 0.2 0.2 3.56 Christopher & Banks 19 19 1.270 1.070 0 0 0.0 0.0 -15.75 Churchill Downs Inc 3 3 232.700 244.050 1 1 0.0 0.0 4.88 Chuys Hldgs Inc 26 27 28.050 26.200 1 1 0.0 0.0 -6.60 Citi Trends Inc 16 16 26.460 30.910 0 0 0.0 0.0 17.25 Clarus Corp New 3 3 7.850 6.750 0 0 0.0 0.0 -14.01 Clear Channel Outdoo 18 18 4.600 4.900 0 0 0.0 0.0 8.37 Cogint Inc 1 1 4.400 2.500 0 0 0.0 0.0 -24.96 Collectors Universe 11 12 28.640 15.710 0 0 0.0 0.0 -44.56 Columbia Sportswear 2 0 71.880 76.430 0 0 0.0 0.0 6.64 Conns Inc 22 22 35.550 34.000 1 1 0.0 0.0 -4.36 Cooper Std Hldgs Inc 18 18 122.500 122.810 2 2 0.1 0.1 0.25 Cooper Tire & Rubr 90 88 35.350 29.300 3 3 0.2 0.1 -16.84
38 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Core Mark Holding Co 48 48 31.580 21.260 2 1 0.1 0.1 -32.38 Cracker Barrel Old C 9 16 158.890 159.200 1 3 0.1 0.1 0.88 Crocs Inc 101 98 12.640 16.250 1 2 0.1 0.1 28.56 Culp Inc 15 15 33.500 30.550 1 0 0.0 0.0 -8.54 Dana Holding Corp 146 137 32.010 25.760 5 4 0.3 0.2 -19.22 Dave & Busters Entmt 41 41 55.170 41.740 2 2 0.1 0.1 -24.34 Deckers Outdoor Corp 66 65 80.250 90.030 5 6 0.3 0.3 12.19 Del Friscos Restaura 20 20 15.250 15.250 0 0 0.0 0.0 0.00 Del Taco Restaurants 32 36 12.120 10.360 0 0 0.0 0.0 -14.52 Delta Apparel Inc 2 2 20.200 18.020 0 0 0.0 0.0 -10.79 Dennys Corp 94 92 13.240 15.430 1 1 0.1 0.1 16.54 Destination Maternit 7 8 2.970 2.590 0 0 0.0 0.0 -12.79 Destination Xl Group 42 42 2.200 1.750 0 0 0.0 0.0 -20.45 Dicks Sporting Goods 84 87 28.740 35.050 2 3 0.1 0.2 22.83 Dillards Inc 3 2 60.050 80.340 0 0 0.0 0.0 33.96 Dineequity Inc 17 14 50.730 65.580 1 1 0.0 0.1 30.51 Diversified Rstrnt H 7 7 1.600 1.350 0 0 0.0 0.0 -15.63 Dixie Group Inc 11 11 3.850 2.750 0 0 0.0 0.0 -28.57 Dorman Products Inc 34 33 61.140 66.210 2 2 0.1 0.1 8.29 Dover Motorsports In 6 6 1.950 2.100 0 0 0.0 0.0 7.69 Drive Shack Inc 30 45 5.530 4.780 0 0 0.0 0.0 -13.56 Dsw Inc 66 65 21.410 22.460 1 1 0.1 0.1 6.13
39 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Duluth Hldgs Inc 5 5 17.850 18.730 0 0 0.0 0.0 4.93 Educational Dev Corp 2 2 18.950 25.000 0 0 0.0 0.0 31.93 El Pollo Loco Hldgs 8 16 9.900 9.500 0 0 0.0 0.0 -4.04 Eldorado Resorts Inc 9 9 33.150 33.000 0 0 0.0 0.0 -0.45 Ellis Perry Intl Inc 9 9 25.040 25.800 0 0 0.0 0.0 3.04 Emerson Radio Corp 12 11 1.460 1.460 0 0 0.0 0.0 0.01 Emmis Communications 2 2 3.540 4.610 0 0 0.0 0.0 30.23 Entercom Communicati 13 13 10.800 9.650 0 0 0.0 0.0 -9.83 Entravision Communic 84 83 7.150 4.700 1 0 0.0 0.0 -33.63 Escalade Inc 5 4 12.300 13.700 0 0 0.0 0.0 12.44 Ethan Allen Interior 33 32 28.600 22.950 1 1 0.1 0.0 -18.31 Evine Live Inc 3 3 1.400 1.020 0 0 0.0 0.0 -27.14 Express Inc 77 75 10.150 7.160 1 1 0.0 0.0 -29.46 Extended Stay Amer I 3 17 19.000 19.770 0 0 0.0 0.0 5.15 Famous Daves Amer In 4 4 6.600 7.100 0 0 0.0 0.0 7.58 Fiesta Restaurant Gr 36 45 19.000 18.500 1 1 0.0 0.0 -2.63 Finish Line Inc 28 27 14.530 13.540 0 0 0.0 0.0 -5.79 Five Below Inc 56 55 66.320 73.340 4 4 0.2 0.2 10.59 Flanigans Enterprise 1 1 23.594 24.000 0 0 0.0 0.0 2.84 Flexsteel Inds Inc 5 6 46.780 39.580 0 0 0.0 0.0 -14.90 Forward Inds Inc N Y 0 1 1.230 1.430 0 0 0.0 0.0 NA Fossil Group Inc 20 19 7.770 12.700 0 0 0.0 0.0 63.45
40 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Fox Factory Hldg Cor 38 38 38.850 34.900 1 1 0.1 0.1 -10.17 Francescas Hldgs Cor 43 42 7.310 4.800 0 0 0.0 0.0 -34.34 Freds Inc 29 29 4.050 2.990 0 0 0.0 0.0 -26.17 Ftd Cos Inc 35 35 7.190 3.640 0 0 0.0 0.0 -49.37 G-III Apparel Group 47 48 36.890 37.680 2 2 0.1 0.1 2.14 Gaia Inc New 5 7 12.400 15.500 0 0 0.0 0.0 25.00 Gamestop Corp New 100 98 17.950 12.620 2 1 0.1 0.1 -28.02 Gannett Spinco Inc 76 99 11.590 9.980 1 1 0.0 0.1 -12.51 Gci Liberty Inc 0 26 54.240 52.860 0 1 0.0 0.1 NA Gci Liberty Inc 0 8 NA 23.350 0 0 0.0 0.0 NA Genesco Inc 23 22 32.500 40.600 1 1 0.0 0.1 24.92 Gentherm Inc 37 37 31.750 33.950 1 1 0.1 0.1 6.93 Graham Hldgs Co 2 3 558.350 602.250 1 2 0.1 0.1 8.11 Grand Canyon Ed Inc 46 37 89.530 104.920 4 4 0.2 0.2 17.19 Gray Television Inc 63 72 16.750 12.700 1 1 0.1 0.1 -24.18 Gray Television Inc 3 3 14.250 10.750 0 0 0.0 0.0 -24.56 Green Brick Partners 4 4 11.300 10.900 0 0 0.0 0.0 -3.54 Group 1 Automotive I 20 20 70.970 65.340 1 1 0.1 0.1 -7.59 Groupon Inc 55 146 5.100 4.340 0 1 0.0 0.0 -14.90 Guess Inc 70 69 16.880 20.740 1 1 0.1 0.1 22.87 Habit Restaurants In 18 19 9.550 8.800 0 0 0.0 0.0 -7.85 Hamilton Beach Brand 9 10 25.690 21.220 0 0 0.0 0.0 -17.12
41 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Harte-Hanks Inc 43 0 0.949 9.220 0 0 0.0 0.0 -2.81 Harte-Hanks Inc 0 4 0.949 9.220 0 0 0.0 0.0 NA Haverty Furniture In 17 17 22.650 20.150 0 0 0.0 0.0 -10.25 Helen of Troy Corp L 34 33 96.350 87.000 3 3 0.2 0.2 -9.70 Hemisphere Media Gro 2 3 11.550 11.250 0 0 0.0 0.0 -2.60 Hibbett Sports Inc 24 24 20.400 23.950 0 1 0.0 0.0 17.40 Hilton Grand Vacatio 2 0 41.950 43.020 0 0 0.0 0.0 2.55 Hooker Furniture Cor 11 11 42.450 36.700 0 0 0.0 0.0 -13.23 Horizon Global Corp 39 39 14.020 8.240 1 0 0.0 0.0 -41.23 Houghton Mifflin Har 114 114 9.300 6.950 1 1 0.1 0.0 -25.27 Hovnanian Enterprise 66 125 3.350 1.830 0 0 0.0 0.0 -45.37 Hsn Inc 48 0 40.350 NA 2 0 0.1 0.0 NA Iconix Brand Group I 74 72 1.290 1.110 0 0 0.0 0.0 -13.95 Ilg Inc 129 126 28.480 31.110 4 4 0.2 0.2 9.81 Imax Corp 21 24 23.150 19.200 0 0 0.0 0.0 -17.06 Insignia Sys Inc 1 1 1.190 1.580 0 0 0.0 0.0 32.77 Inspired Entmt Inc 0 1 9.800 5.500 0 0 0.0 0.0 NA Installed Bldg Prods 26 27 75.950 60.050 2 2 0.1 0.1 -20.93 Irobot Corp 28 27 76.700 64.190 2 2 0.1 0.1 -16.31 J Alexanders Hldgs I 1 3 9.700 11.450 0 0 0.0 0.0 18.04 J Jill Inc 0 1 7.800 4.420 0 0 0.0 0.0 NA Jack In the Box Inc 38 38 98.110 85.330 4 3 0.2 0.2 -12.65
42 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Jakks Pac Inc 7 6 2.350 2.100 0 0 0.0 0.0 -10.64 Jamba Inc 9 5 8.060 8.570 0 0 0.0 0.0 6.33 Jc Penney Co 91 89 3.160 3.020 0 0 0.0 0.0 -4.43 Johnson Outdoors Inc 4 5 62.090 62.000 0 0 0.0 0.0 0.02 K12 Inc 37 42 15.900 14.180 1 1 0.0 0.0 -10.82 Kb Home 67 66 31.950 28.450 2 2 0.1 0.1 -10.88 Kirklands Inc 15 15 11.965 9.690 0 0 0.0 0.0 -19.01 Kona Grill Inc 9 9 1.750 1.900 0 0 0.0 0.0 8.57 La Quinta Hldgs Inc 93 104 18.460 18.910 2 2 0.1 0.1 2.44 La Z Boy Inc 55 53 31.200 29.950 2 2 0.1 0.1 -3.63 Lakeland Inds Inc 5 6 14.550 12.950 0 0 0.0 0.0 -11.00 Laureate Education I 0 1 13.560 13.750 0 0 0.0 0.0 NA Lci Inds 25 24 130.000 104.150 3 2 0.2 0.1 -19.48 Lgi Homes Inc 1 1 75.030 70.570 0 0 0.0 0.0 -5.94 Libbey Inc 26 46 7.520 4.890 0 0 0.0 0.0 -33.83 Liberty Expedia Hold 5 9 44.330 39.280 0 0 0.0 0.0 -11.39 Liberty Interactive 0 7 24.420 25.170 0 0 0.0 0.0 NA Liberty Latin Americ 0 1 20.150 19.450 0 0 0.0 0.0 NA Liberty Tax Inc 4 5 11.000 10.100 0 0 0.0 0.0 -6.89 Liberty Tripadvisor 70 73 9.425 10.750 1 1 0.0 0.0 14.06 Lifetime Brands Inc 10 10 16.500 12.400 0 0 0.0 0.0 -24.67 Lindblad Expeditions 9 13 9.790 10.270 0 0 0.0 0.0 4.90
43 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Lithia Mtrs Inc 26 26 113.590 100.520 3 3 0.2 0.1 -11.28 Lubys Inc 26 25 2.640 2.780 0 0 0.0 0.0 5.30 Lyon William Homes 25 35 29.080 27.490 1 1 0.0 0.1 -5.47 M D C Corp Colo 44 43 31.880 27.920 1 1 0.1 0.1 -11.56 M/I Homes 19 19 34.400 31.850 1 1 0.0 0.0 -7.41 Madden Steven Ltd 65 64 46.700 43.900 3 3 0.2 0.2 -5.58 Malibu Boats Inc 25 26 29.730 33.210 1 1 0.0 0.0 11.71 Marcus Corp 12 12 27.350 30.350 0 0 0.0 0.0 11.57 Marine Prods Corp 12 13 12.740 14.010 0 0 0.0 0.0 10.75 Marinemax Inc 26 26 18.900 19.450 0 1 0.0 0.0 2.91 Marriott Vacations W 29 28 135.210 133.200 4 4 0.2 0.2 -1.21 McBc Hldgs Inc 4 10 22.220 25.200 0 0 0.0 0.0 13.41 McClatchy Co 8 8 8.930 9.250 0 0 0.0 0.0 3.58 Meredith Corp 49 48 66.050 53.800 3 3 0.2 0.1 -17.78 Meritage Corp 33 32 51.200 45.250 2 1 0.1 0.1 -11.62 Michaels Cos Inc 49 54 24.190 19.710 1 1 0.1 0.1 -18.52 Modine Mfg Co 44 43 20.200 21.150 1 1 0.1 0.1 4.70 Monarch Casino & Res 3 3 44.820 42.290 0 0 0.0 0.0 -5.64 Monro Muffler Brake 33 33 56.950 53.600 2 2 0.1 0.1 -5.57 Motorcar Parts & Acc 27 27 24.990 21.430 1 1 0.0 0.0 -14.25 Movado Group Inc 12 12 32.200 38.400 0 0 0.0 0.0 19.25 Msg Network Inc 79 77 20.250 22.600 2 2 0.1 0.1 11.61
44 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Murphy Usa Inc 43 42 80.360 72.800 3 3 0.2 0.2 -9.41 Nathans Famous Inc N 6 6 75.500 73.900 0 0 0.0 0.0 -2.12 National Cinemedia I 75 83 6.860 5.190 1 0 0.0 0.0 -22.03 Nautilus Group Inc 66 65 13.350 13.450 1 1 0.0 0.0 0.75 New Home Co Inc 1 3 12.530 11.080 0 0 0.0 0.0 -11.57 New Media Invt Group 14 23 16.780 17.140 0 0 0.0 0.0 4.35 New York & Co Inc 36 40 2.860 3.380 0 0 0.0 0.0 18.18 New York Times Co 156 160 18.500 24.100 3 4 0.2 0.2 30.54 Nexstar Broadcasting 47 46 78.200 66.500 4 3 0.2 0.2 -14.53 Nutri Sys Inc New 31 30 52.600 26.950 2 1 0.1 0.0 -48.37 Office Depot Inc 516 505 3.540 2.150 2 1 0.1 0.1 -38.64 Ollies Bargain Outlt 26 30 53.250 60.300 1 2 0.1 0.1 13.24 Overstock Com Inc De 24 24 63.900 36.250 2 1 0.1 0.0 -43.27 Oxford Inds Inc 19 18 75.190 74.560 1 1 0.1 0.1 -0.51 P&F Inds Inc 1 1 8.500 7.760 0 0 0.0 0.0 -8.07 Papa Johns Intl Inc 49 47 56.110 57.300 3 3 0.2 0.2 2.52 Party City Holdco In 6 6 13.950 15.600 0 0 0.0 0.0 11.83 Penn Natl Gaming Inc 19 19 31.330 26.260 1 0 0.0 0.0 -16.18 Penske Automotive Gr 19 29 47.850 44.330 1 1 0.1 0.1 -6.71 Petmed Express Inc 35 35 45.500 41.750 2 1 0.1 0.1 -7.71 Pico Hldgs Inc 21 21 12.800 11.450 0 0 0.0 0.0 -10.55 Pier I Imports Inc 150 147 4.140 3.220 1 0 0.0 0.0 -20.88
45 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Pinnacle Entmt Inc N 14 14 32.730 30.150 0 0 0.0 0.0 -7.88 Planet Fitness Inc 84 82 34.630 37.770 3 3 0.2 0.2 9.07 Playa Hotels & Resor 1 3 10.790 10.220 0 0 0.0 0.0 -5.28 Potbelly Corp 32 33 12.300 12.050 0 0 0.0 0.0 -2.03 Rci Hospitality Hldg 9 9 27.980 28.390 0 0 0.0 0.0 1.57 Reading Internationa 14 16 16.700 16.650 0 0 0.0 0.0 -0.30 Red Lion Hotels Corp 16 19 9.850 9.750 0 0 0.0 0.0 -1.02 Red Robin Gourmet Bu 15 14 56.400 58.000 1 1 0.0 0.0 2.84 Red Rock Resorts Inc 8 1 33.740 29.280 0 0 0.0 0.0 -12.95 Regal Entmt Group 142 0 23.010 NA 3 0 0.2 0.0 NA Regis Corp Minn 41 40 15.360 15.130 1 1 0.0 0.0 -1.50 Rent A Ctr Inc New 14 14 11.100 8.630 0 0 0.0 0.0 -22.25 Rh 8 7 86.210 95.280 1 1 0.0 0.0 10.52 Rocky Brands Inc 9 9 18.900 21.450 0 0 0.0 0.0 14.18 Ruths Chris Steak Hs 64 63 21.650 24.450 1 2 0.1 0.1 13.43 Saga Communications 2 2 40.450 37.250 0 0 0.0 0.0 -7.19 Salem Communications 18 19 4.500 3.600 0 0 0.0 0.0 -18.70 Sally Beauty Hldgs I 116 114 18.760 16.450 2 2 0.1 0.1 -12.31 Scholastic Corp 18 17 40.110 38.840 1 1 0.0 0.0 -2.79 Scientific Games Cor 34 33 51.300 41.600 2 1 0.1 0.1 -18.91 Scripps E W Co Ohio 71 71 15.630 11.990 1 1 0.1 0.0 -23.01 Seaworld Entmt Inc 22 22 13.570 14.830 0 0 0.0 0.0 9.29
46 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Sequential Brnds Gro 1 1 1.780 2.085 0 0 0.0 0.0 17.13 Shake Shack Inc 4 4 43.200 41.630 0 0 0.0 0.0 -3.63 Shiloh Inds Inc 22 24 8.200 8.700 0 0 0.0 0.0 6.10 Shoe Carnival Inc 15 15 26.750 23.800 0 0 0.0 0.0 -10.77 Shutterfly Inc 39 39 49.750 81.250 2 3 0.1 0.2 63.32 Signet Jewelers Limi 18 59 56.550 38.520 1 2 0.1 0.1 -31.48 Sinclair Broadcast G 75 74 37.850 31.300 3 2 0.2 0.1 -16.86 Skyline Corp 10 9 12.850 22.000 0 0 0.0 0.0 71.21 Sleep Number Corp 49 48 37.590 35.150 2 2 0.1 0.1 -6.49 Sonic Automotive Inc 32 31 18.450 18.950 1 1 0.0 0.0 3.02 Sonic Corp 64 63 27.480 25.230 2 2 0.1 0.1 -7.58 Sothebys Hldgs Inc 67 65 51.600 51.310 3 3 0.2 0.2 -0.56 Speedway Motorsports 25 26 18.870 17.820 0 0 0.0 0.0 -4.84 Sportsmans Whse Hldg 42 41 6.610 4.080 0 0 0.0 0.0 -38.28 Stage Stores Inc 21 20 1.680 2.180 0 0 0.0 0.0 33.11 Standard Mtr Prods 26 26 44.910 47.570 1 1 0.1 0.1 6.39 Stein Mart Inc 16 7 1.160 1.520 0 0 0.0 0.0 31.03 Stoneridge Inc 50 50 22.860 27.600 1 1 0.1 0.1 20.73 Strattec Sec Corp 3 3 43.550 36.350 0 0 0.0 0.0 -16.20 Strayer Ed Inc 12 12 89.580 101.050 1 1 0.1 0.1 13.08 Sturm Ruger & Co Inc 18 18 55.850 52.500 1 1 0.1 0.1 -5.57 Superior Inds Intl 21 22 14.850 13.300 0 0 0.0 0.0 -9.92
47 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Superior Uniform Grp 10 11 26.710 26.270 0 0 0.0 0.0 -1.26 Sypris Solutions Inc 17 17 1.370 1.630 0 0 0.0 0.0 18.98 Tailored Brands Inc 20 21 21.830 25.060 0 1 0.0 0.0 15.75 Tandy Leather Factor 9 9 7.700 7.050 0 0 0.0 0.0 -8.44 Taylor Morrison Home 74 105 24.470 23.280 2 2 0.1 0.1 -4.86 Tegna Inc 0 32 14.080 11.390 0 0 0.0 0.0 NA Tempur Pedic Intl In 25 32 62.690 45.290 2 1 0.1 0.1 -27.76 Tenneco Automotive I 51 50 58.540 54.870 3 3 0.2 0.2 -5.84 Texas Roadhouse Inc 65 64 52.680 57.780 3 4 0.2 0.2 10.15 Tile Shop Hldgs Inc 43 48 9.600 6.000 0 0 0.0 0.0 -36.93 Tillys Inc 19 18 14.760 11.300 0 0 0.0 0.0 -17.72 Time Inc New 86 0 18.450 NA 2 0 0.1 0.0 NA Topbuild Corp 30 31 75.740 76.520 2 2 0.1 0.1 1.03 Tower Intl Inc 27 27 30.550 27.750 1 1 0.0 0.0 -8.78 Town Sports Intl Hld 19 22 5.550 7.600 0 0 0.0 0.0 36.94 Townsquare Media Inc 0 4 7.680 7.930 0 0 0.0 0.0 NA Trans World Entmt Co 45 44 1.825 1.250 0 0 0.0 0.0 -31.51 Travelcenters of Ame 4 9 4.100 3.600 0 0 0.0 0.0 -12.20 Tri Pointe Homes Inc 169 166 17.920 16.430 3 3 0.2 0.2 -8.31 Tribune Co New 8 8 42.470 40.510 0 0 0.0 0.0 -4.04 Tronc Inc 17 24 17.590 16.420 0 0 0.0 0.0 -6.65 Tuesday Morning Corp 31 31 2.750 3.950 0 0 0.0 0.0 43.64
48 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Tupperware Corp 45 45 62.700 48.380 3 2 0.2 0.1 -21.74 U.S. Auto Parts Netw 36 36 2.520 2.050 0 0 0.0 0.0 -18.65 Unifi Inc 13 13 35.870 36.250 0 0 0.0 0.0 1.06 Universal Electrs In 15 15 47.250 52.050 1 1 0.0 0.0 10.16 Universal Technical 13 13 2.400 2.940 0 0 0.0 0.0 22.50 Urban One Inc 94 92 1.750 2.050 0 0 0.0 0.0 17.14 Urban Outfitters Inc 108 105 35.060 36.960 4 4 0.2 0.2 5.42 Vera Bradley Inc 37 38 12.180 10.610 0 0 0.0 0.0 -12.89 Vista Outdoor Inc 56 55 14.570 16.320 1 1 0.0 0.1 12.01 Visteon Corp 34 34 125.140 110.240 4 4 0.2 0.2 -11.91 Vitamin Shoppe Inc 25 35 4.400 4.350 0 0 0.0 0.0 -1.14 Voxx Intl Corp 19 19 5.600 4.950 0 0 0.0 0.0 -11.61 Weight Watchers Intl 49 50 44.280 63.720 2 3 0.1 0.2 43.90 Wendys Co 237 248 16.420 17.550 4 4 0.2 0.2 7.45 Weyenberg Shoe Mfg 5 6 29.720 33.600 0 0 0.0 0.0 13.83 Wiley John & Sons In 48 47 65.750 63.700 3 3 0.2 0.2 -3.12 Wingstop Inc 26 26 38.980 47.230 1 1 0.1 0.1 30.10 Winmark Corp 4 4 129.400 130.800 1 1 0.0 0.0 1.16 Winnebago Inds Inc 37 37 55.600 37.600 2 1 0.1 0.1 -32.25 Wolverine World Wide 119 117 31.880 28.900 4 3 0.2 0.2 -9.10 World Wrestling Entr 8 16 30.580 36.010 0 1 0.0 0.0 18.14 Zagg Incorporated 49 64 18.450 12.200 1 1 0.1 0.0 -33.88
49 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Zumiez Inc 26 26 20.825 23.900 1 1 0.0 0.0 14.77 295 288 16.6 16.4 -2.49 Consumer Staples Alico Inc 4 4 29.500 27.200 0 0 0.0 0.0 -7.59 Alliance One Intl In 12 12 13.250 26.050 0 0 0.0 0.0 96.60 Andersons Inc 24 23 31.150 33.100 1 1 0.0 0.0 6.79 Avon Prods Inc 362 359 2.150 2.840 1 1 0.0 0.1 32.09 B & G Foods Inc New 64 62 35.150 23.700 2 1 0.1 0.1 -31.28 Bob Evans Farms Inc 20 0 78.820 NA 2 0 0.1 0.0 NA Boston Beer Inc 9 9 191.100 189.050 2 2 0.1 0.1 -1.07 Bridgford Foods Corp 2 2 12.650 14.760 0 0 0.0 0.0 16.68 CCA Inds Inc 2 2 3.150 2.950 0 0 0.0 0.0 -6.35 Cal Maine Foods Inc 42 42 44.450 43.700 2 2 0.1 0.1 -1.69 Calavo Growers Inc 19 18 84.400 92.200 2 2 0.1 0.1 9.24 Central Garden & Pet 38 38 37.710 39.610 1 2 0.1 0.1 5.04 Central Garden & Pet 11 11 38.920 43.000 0 0 0.0 0.0 10.48 Chefs Whse Inc 28 29 20.500 23.000 1 1 0.0 0.0 12.20 Coca Cola Bottlng Co 7 7 215.260 172.670 2 1 0.1 0.1 -19.69 Coffee Hldgs Inc 1 1 4.270 4.350 0 0 0.0 0.0 1.87 Craft Brewers Allian 35 35 19.200 18.600 1 1 0.0 0.0 -3.12 Darling Intl Inc 172 174 18.130 17.300 3 3 0.2 0.2 -4.58 Dean Foods Co New 115 116 11.560 8.620 1 1 0.1 0.1 -24.67
50 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Staples (cont.) Edgewell Pers Care C 23 51 59.390 48.820 1 2 0.1 0.1 -17.80 Energizer Hldgs Inc 59 58 47.980 59.580 3 3 0.2 0.2 24.85 Farmer Bros Co 20 20 32.150 30.200 1 1 0.0 0.0 -6.07 Flowers Foods Inc 0 5 19.310 21.860 0 0 0.0 0.0 NA Fresh Del Monte Prod 43 42 47.670 45.240 2 2 0.1 0.1 -4.80 Hostess Brands Inc 48 55 14.810 14.790 1 1 0.0 0.0 -0.14 Hrg Group Inc 123 136 16.950 16.490 2 2 0.1 0.1 -2.71 Ingles Mkts Inc 13 13 34.600 33.850 0 0 0.0 0.0 -1.69 Inter Parfums Inc 31 31 43.450 47.150 1 1 0.1 0.1 9.00 J & J Snack Foods Co 19 19 151.830 136.560 3 3 0.2 0.1 -9.77 Lancaster Colony Cor 20 19 129.210 123.140 3 2 0.1 0.1 -4.23 Landec Corp 25 24 12.600 13.050 0 0 0.0 0.0 3.57 Lifevantage Corp 10 10 4.760 3.610 0 0 0.0 0.0 -24.16 Lifeway Foods Inc 6 6 8.000 5.990 0 0 0.0 0.0 -25.13 Limoneira Co 5 6 22.400 23.730 0 0 0.0 0.0 5.94 Mannatech Inc 1 1 15.000 15.700 0 0 0.0 0.0 5.53 Medifast Inc 24 24 69.810 93.450 2 2 0.1 0.1 34.57 Mgp Ingredients Inc 21 20 76.880 89.590 2 2 0.1 0.1 16.65 National Beverage Co 31 29 97.440 89.020 3 3 0.2 0.1 -8.64 Natural Alternatives 5 6 10.325 11.000 0 0 0.0 0.0 6.54 Natural Grocers By V 10 12 8.930 7.160 0 0 0.0 0.0 -19.82 Natural Health Trend 1 1 15.190 19.010 0 0 0.0 0.0 26.09
51 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Staples (cont.) Natures Sunshine Pro 7 7 11.550 11.000 0 0 0.0 0.0 -4.76 Nu Skin Enterprises 45 47 68.230 73.710 3 3 0.2 0.2 8.58 Oil Dri Corp Amer 3 4 41.500 40.190 0 0 0.0 0.0 -2.58 Orchids Paper Prods 8 8 12.800 8.150 0 0 0.0 0.0 -36.33 Performance Food Gro 21 34 33.100 29.850 1 1 0.0 0.1 -9.82 Pricesmart Inc 30 29 86.100 83.550 3 2 0.1 0.1 -2.53 Primo Wtr Corp 32 33 12.570 11.710 0 0 0.0 0.0 -6.84 Revlon Inc 33 32 21.800 20.600 1 1 0.0 0.0 -5.50 Rite Aid Corp 188 204 1.970 1.680 0 0 0.0 0.0 -14.72 Rocky Mtn Chocolate 4 4 11.800 12.030 0 0 0.0 0.0 2.96 Sanderson Farms Inc 36 32 138.780 119.020 5 4 0.3 0.2 -14.03 Sanfilippo John B & 17 19 63.250 57.870 1 1 0.1 0.1 -8.51 Seneca Foods Corp Ne 6 6 30.750 27.700 0 0 0.0 0.0 -9.92 Smart & Final Stores 8 12 8.550 5.550 0 0 0.0 0.0 -35.09 Snyders-Lance Inc 95 0 50.080 49.980 5 0 0.3 0.0 0.12 Spartannash Co 30 29 26.680 17.210 1 0 0.0 0.0 -34.85 Sprouts Fmrs Mkt Inc 99 101 24.350 23.470 2 2 0.1 0.1 -3.61 Supervalu Inc 38 39 21.600 15.230 1 1 0.0 0.0 -29.49 Tofu Time Inc Del 1 1 1.800 2.020 0 0 0.0 0.0 12.22 Tootsie Roll Inds In 21 20 36.400 29.450 1 1 0.0 0.0 -16.43 Treehouse Foods Inc 9 15 49.460 38.270 0 1 0.0 0.0 -22.62 Turning Pt Brands In 1 4 21.130 19.440 0 0 0.0 0.0 -7.82
52 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Staples (cont.) United Guardian Inc 2 2 18.500 17.600 0 0 0.0 0.0 -4.86 United Nat Foods Inc 54 53 49.270 42.940 3 2 0.1 0.1 -12.85 Universal Corp 25 24 52.500 48.500 1 1 0.1 0.1 -6.64 Usana Inc 19 20 74.050 85.900 1 2 0.1 0.1 16.00 Vector Group Ltd 155 152 22.380 20.390 3 3 0.2 0.2 -7.07 Village Super Mkt In 6 7 22.930 26.370 0 0 0.0 0.0 16.25 WD 40 Co 15 14 118.000 131.700 2 2 0.1 0.1 12.09 Weis Mkts Inc 14 14 41.390 40.980 1 1 0.0 0.0 -0.22 80 73 4.5 4.1 -2.70 Health Care Abaxis Inc 22 22 49.520 70.620 1 2 0.1 0.1 42.95 Acadia Healthcare Co 22 36 32.630 39.180 1 1 0.0 0.1 20.07 Accuray Inc 63 77 4.300 5.000 0 0 0.0 0.0 16.28 Aceto Chem Inc 30 30 10.330 7.600 0 0 0.0 0.0 -25.78 Achillion Pharmaceut 100 131 2.880 3.710 0 0 0.0 0.0 28.82 Acorda Therapeutics 47 46 21.450 23.650 1 1 0.1 0.1 10.26 Adamas Pharmaceutica 3 0 33.890 23.900 0 0 0.0 0.0 -29.48 Adamis Pharmaceutica 0 5 4.400 3.500 0 0 0.0 0.0 NA Addus Homecare Corp 23 23 34.800 48.650 1 1 0.0 0.1 39.80 Advaxis Inc 1 0 2.840 1.690 0 0 0.0 0.0 -40.49 Adverum Biotechnolog 10 12 3.500 5.800 0 0 0.0 0.0 65.71 Aeglea Biotherapeuti 0 1 5.410 9.920 0 0 0.0 0.0 NA
53 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Affimed Therapeutics 5 9 1.300 1.850 0 0 0.0 0.0 42.31 Agile Therapeutics I 1 3 2.690 2.570 0 0 0.0 0.0 -4.46 Akorn Inc 19 18 32.230 18.710 1 0 0.0 0.0 -41.95 Alder Biopharmaceuti 31 35 11.450 12.700 0 0 0.0 0.0 10.92 Aldeyra Therapeutics 1 1 6.800 7.500 0 0 0.0 0.0 10.29 Allscripts Healthcar 265 260 14.550 12.350 4 3 0.2 0.2 -15.12 Almost Family Inc 19 19 55.350 56.000 1 1 0.1 0.1 1.17 Amag Pharmaceuticals 7 6 13.250 20.150 0 0 0.0 0.0 52.08 Amedisys Inc 34 33 52.710 60.340 2 2 0.1 0.1 14.48 American Renal Assoc 1 7 17.400 18.850 0 0 0.0 0.0 8.33 American Shared Hosp 1 1 2.596 2.550 0 0 0.0 0.0 -1.79 Amicus Therapeutics 15 0 14.390 15.040 0 0 0.0 0.0 4.52 Amn Healthcare Servi 54 53 49.250 56.750 3 3 0.1 0.2 15.23 Amphastar Pharmaceut 26 28 19.240 18.750 1 1 0.0 0.0 -2.55 Analogic Corp 16 17 83.750 95.900 1 2 0.1 0.1 14.63 Angiodynamics Inc 31 30 16.630 17.250 1 1 0.0 0.0 3.73 Ani Pharmaceuticals 16 16 64.450 58.220 1 1 0.1 0.1 -9.67 Anika Therapeutics I 21 21 53.910 49.720 1 1 0.1 0.1 -7.77 Applied Genetic Tech 1 6 3.600 3.850 0 0 0.0 0.0 6.94 Aptevo Therapeutics 22 25 4.240 3.270 0 0 0.0 0.0 -22.88 Aquinox Pharmaceutic 1 2 11.760 14.080 0 0 0.0 0.0 19.73 Aralez Pharmaceutica 9 9 1.420 1.500 0 0 0.0 0.0 5.63
54 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Aratana Therapeutics 23 32 5.260 4.410 0 0 0.0 0.0 -16.16 Ardelyx Inc 17 28 6.600 5.050 0 0 0.0 0.0 -23.48 Arrowhead Pharmaceut 1 1 3.680 7.210 0 0 0.0 0.0 95.92 Assembly Biosciences 1 1 45.250 49.140 0 0 0.0 0.0 8.60 Atrion Corp 1 1 630.600 631.300 1 1 0.0 0.0 0.31 Bellicum Pharmaceuti 3 3 8.410 6.560 0 0 0.0 0.0 -22.00 Bioscript Inc 26 39 2.910 2.460 0 0 0.0 0.0 -15.46 Biospecifics Technol 11 11 43.330 44.340 0 0 0.0 0.0 2.33 Biotelemetry Inc 44 43 29.900 31.050 1 1 0.1 0.1 3.85 Bovie Medical Corp 3 3 2.600 2.970 0 0 0.0 0.0 14.23 Brookdale Sr Living 187 183 9.700 6.710 2 1 0.1 0.1 -30.82 Calithera Bioscience 6 13 8.350 6.300 0 0 0.0 0.0 -24.55 Cambrex Corp 36 35 48.000 52.300 2 2 0.1 0.1 8.96 Cancer Genetics Inc 0 1 1.850 1.650 0 0 0.0 0.0 NA Cantel Inc 44 43 102.870 111.410 5 5 0.3 0.3 8.38 Capital Sr Living Co 56 55 13.490 10.750 1 1 0.0 0.0 -20.31 Cascadian Therapeuti 16 0 3.700 10.020 0 0 0.0 0.0 170.81 Castlight Health Inc 1 7 3.750 3.650 0 0 0.0 0.0 -2.67 Catabasis Pharmaceut 3 3 1.490 1.810 0 0 0.0 0.0 21.48 Catalent Inc 9 0 41.080 41.060 0 0 0.0 0.0 -0.05 Catalyst Biosciences 5 5 13.640 25.800 0 0 0.0 0.0 89.15 Celldex Therapeutics 41 75 2.840 2.330 0 0 0.0 0.0 -17.96
55 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Chemed Corp New 16 15 243.020 272.860 4 4 0.2 0.2 12.40 Chimerix Inc 38 43 4.630 5.200 0 0 0.0 0.0 12.31 Cidara Therapeutics 0 1 6.800 4.000 0 0 0.0 0.0 NA Civitas Solutions In 6 10 17.100 15.400 0 0 0.0 0.0 -9.94 Community Health Sys 113 117 4.260 3.960 0 0 0.0 0.0 -7.04 Computer Programs & 8 8 30.050 29.200 0 0 0.0 0.0 -2.51 Concert Pharmaceutic 10 19 25.870 22.900 0 0 0.0 0.0 -11.48 Conformis Inc 3 3 2.380 1.450 0 0 0.0 0.0 -39.08 Conmed Corp 21 23 50.970 63.330 1 1 0.1 0.1 24.63 Corcept Therapeutics 17 40 18.060 16.450 0 1 0.0 0.0 -8.91 Corvel Corp 19 18 52.900 50.550 1 1 0.1 0.1 -4.44 Corvus Pharmaceutica 2 5 10.360 11.530 0 0 0.0 0.0 11.29 Cotiviti Hldgs Inc 21 30 32.210 34.440 1 1 0.0 0.1 6.92 Cross Ctry Healthcar 37 39 12.760 11.110 0 0 0.0 0.0 -12.93 Cryolife Inc 48 47 19.150 20.050 1 1 0.1 0.1 4.70 Cumberland Pharmaceu 14 14 7.420 6.680 0 0 0.0 0.0 -9.97 Cutera Inc 13 22 45.350 50.250 1 1 0.0 0.1 10.80 Cynergistek Inc 1 1 4.050 4.980 0 0 0.0 0.0 22.96 Cytokinetics Inc 3 4 8.150 7.200 0 0 0.0 0.0 -11.66 Depomed Inc 79 79 8.050 6.590 1 1 0.0 0.0 -18.14 Dermira Inc 1 17 27.810 7.990 0 0 0.0 0.0 -71.27 Digigrad Corp 13 13 2.575 1.550 0 0 0.0 0.0 -38.33
56 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Diplomat Pharmacy In 11 11 20.070 20.150 0 0 0.0 0.0 0.40 Eagle Pharmaceutical 1 1 53.420 52.690 0 0 0.0 0.0 -1.37 Electromed Inc 4 4 6.070 5.360 0 0 0.0 0.0 -11.70 Emergent Biosolution 45 44 46.470 52.650 2 2 0.1 0.1 13.30 Enanta Pharmaceutica 24 24 58.680 80.910 1 2 0.1 0.1 37.88 Endo Intl Plc 247 242 7.750 5.940 2 1 0.1 0.1 -23.35 Ensign Group Inc 53 52 22.200 26.300 1 1 0.1 0.1 18.67 Envision Healthcare 31 29 34.560 38.430 1 1 0.1 0.1 11.20 Enzo Biochem Inc 72 70 8.150 5.480 1 0 0.0 0.0 -32.76 Evolent Health Inc 29 32 12.300 14.250 0 0 0.0 0.0 15.85 Exactech Inc 9 0 49.450 NA 0 0 0.0 0.0 NA Fate Therapeutics In 2 2 6.110 9.760 0 0 0.0 0.0 59.74 Five Prime Therapeut 36 39 21.920 17.180 1 1 0.0 0.0 -21.62 Fonar Corp 2 3 24.350 29.800 0 0 0.0 0.0 22.38 Globus Med Inc 77 75 41.100 49.820 3 4 0.2 0.2 21.22 Haemonetics Corp 53 52 58.080 73.160 3 4 0.2 0.2 25.96 Halozyme Therapeutic 0 1 20.260 19.590 0 0 0.0 0.0 NA Halyard Health Inc 50 49 46.180 46.080 2 2 0.1 0.1 -0.22 Harvard Bioscience I 22 26 3.300 5.000 0 0 0.0 0.0 51.52 Healthequity Inc 28 30 46.660 60.540 1 2 0.1 0.1 29.75 Healthstream Inc 33 34 23.160 24.830 1 1 0.0 0.0 11.65 Heat Biologics Inc 0 1 0.383 1.630 0 0 0.0 0.0 NA
57 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Heska Corp 8 8 80.210 79.070 1 1 0.0 0.0 -1.42 Hms Hldgs Corp 91 91 16.950 16.840 2 2 0.1 0.1 -0.65 Horizon Pharma Plc 254 236 14.600 14.200 4 3 0.2 0.2 -2.74 ICU Med Inc 14 13 216.000 252.400 3 3 0.2 0.2 16.85 Ignyta Inc 1 0 26.700 NA 0 0 0.0 0.0 NA Immune Design Corp 0 8 3.900 3.300 0 0 0.0 0.0 NA Impax Laboratories I 90 88 16.650 19.450 1 2 0.1 0.1 16.82 Inc Resh Hldgs Inc 39 0 43.600 35.500 2 0 0.1 0.0 -18.58 Infinity Pharmaceuti 9 18 2.030 2.100 0 0 0.0 0.0 3.45 Infusystems Holdings 1 1 2.300 2.900 0 0 0.0 0.0 26.09 Innoviva Inc 24 52 14.190 16.670 0 1 0.0 0.0 17.48 Inogen Inc 21 20 119.080 122.840 3 2 0.1 0.1 3.16 Inovio Pharmaceutica 4 4 4.130 4.710 0 0 0.0 0.0 14.04 Insys Therapeutics I 25 0 9.620 6.040 0 0 0.0 0.0 -37.21 Integer Hldgs Corp 33 33 45.300 56.550 1 2 0.1 0.1 24.83 Integra Lifesciences 65 62 47.860 55.340 3 3 0.2 0.2 15.63 Intellia Therapeutic 3 0 19.220 21.090 0 0 0.0 0.0 9.73 Intra Cellular Thera 21 21 14.480 21.050 0 0 0.0 0.0 45.37 Intrexon Corp 1 1 11.520 15.330 0 0 0.0 0.0 33.07 Invacare Corp 41 42 16.850 17.400 1 1 0.0 0.0 3.34 Invitae Corp 0 3 9.080 4.690 0 0 0.0 0.0 NA Iridex Corp 5 5 7.620 5.720 0 0 0.0 0.0 -24.93
58 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Jounce Therapeutics 0 4 12.750 22.350 0 0 0.0 0.0 NA Juniper Pharmaceutic 2 4 4.850 10.150 0 0 0.0 0.0 109.28 Juno Therapeutics In 17 0 45.710 0.010 1 0 0.0 0.0 89.83 Karyopharm Therapeut 8 7 9.600 13.420 0 0 0.0 0.0 39.79 Kewaunee Scientific 1 1 29.000 34.050 0 0 0.0 0.0 18.10 Kindred Biosciences 39 41 9.450 8.650 0 0 0.0 0.0 -8.47 Kindred Healthcare I 112 110 9.700 9.150 1 1 0.1 0.1 -5.67 Lannet Inc 26 26 23.200 16.050 1 0 0.0 0.0 -30.82 Lantheus Hldgs Inc 36 41 20.450 15.900 1 1 0.0 0.0 -22.25 Lemaitre Vascular In 40 39 31.840 36.230 1 1 0.1 0.1 14.01 Lhc Group Inc 21 21 61.250 61.560 1 1 0.1 0.1 0.51 Lifepoint Hospitals 42 41 49.800 47.000 2 2 0.1 0.1 -5.62 Ligand Pharmaceutica 10 10 136.930 165.160 1 2 0.1 0.1 20.62 Lipocine Inc New 2 2 3.440 1.530 0 0 0.0 0.0 -55.52 Livanova Plc 38 40 79.920 88.500 3 4 0.2 0.2 10.74 Luminex Corp Del 50 49 19.700 21.070 1 1 0.1 0.1 7.26 Macrogenics Inc 14 14 19.000 25.160 0 0 0.0 0.0 32.42 Magellan Health Svcs 24 23 96.550 107.100 2 2 0.1 0.1 10.93 Mallinckrodt Pub Ltd 46 49 22.560 14.480 1 1 0.1 0.0 -35.82 Mannkind Corp 3 0 2.320 2.280 0 0 0.0 0.0 -1.72 Masimo Corp 2 0 84.800 87.950 0 0 0.0 0.0 3.71 Medpace Hldgs Inc 0 1 36.260 34.910 0 0 0.0 0.0 NA
59 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Mei Pharma Inc 3 3 2.100 2.070 0 0 0.0 0.0 -1.43 Melinta Therapeutics 9 15 15.800 7.400 0 0 0.0 0.0 -53.16 Meridian Bioscience 59 62 14.000 14.200 1 1 0.0 0.1 2.26 Merit Med Sys Inc 57 56 43.200 45.350 2 3 0.1 0.1 4.98 Merrimack Pharmaceut 5 8 10.250 8.050 0 0 0.0 0.0 -21.46 Micron Solutions Inc 1 1 3.500 3.810 0 0 0.0 0.0 8.86 Minerva Neuroscience 1 8 6.050 6.250 0 0 0.0 0.0 3.31 Miragen Therapeutics 3 9 10.430 7.010 0 0 0.0 0.0 -32.79 Mirati Therapeutics 4 4 18.250 30.700 0 0 0.0 0.0 68.22 Misonix Inc 9 9 9.600 9.900 0 0 0.0 0.0 3.13 Molecular Templates 0 1 10.020 8.000 0 0 0.0 0.0 NA Moleculin Biotech In 0 1 1.860 1.800 0 0 0.0 0.0 NA Molina Healthcare In 18 3 76.680 81.180 1 0 0.1 0.0 5.87 Momenta Pharmaceutic 33 33 13.950 18.150 0 1 0.0 0.0 30.11 Myriad Genetics Inc 74 79 34.345 29.550 3 2 0.1 0.1 -13.96 Nabriva Therapeutics 2 8 5.980 5.030 0 0 0.0 0.0 -15.89 National Healthcare 5 5 60.940 59.630 0 0 0.0 0.0 -1.37 National Resh Corp 2 1 56.870 48.500 0 0 0.0 0.0 -13.64 National Resh Corp 11 11 37.300 29.250 0 0 0.0 0.0 -21.31 Natus Medical Inc De 36 36 38.200 33.650 1 1 0.1 0.1 -11.91 Neogen Corp 36 34 82.210 66.990 3 2 0.2 0.1 8.65 Neogenomics Inc 22 21 8.860 8.160 0 0 0.0 0.0 -7.90
60 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Neurotrope Inc 1 1 7.040 8.120 0 0 0.0 0.0 15.34 Newlink Genetics Cor 2 2 8.110 7.250 0 0 0.0 0.0 -10.60 Nuvasive Inc 41 40 58.490 52.210 2 2 0.1 0.1 -10.74 Nuvectra Corp 18 19 7.760 13.020 0 0 0.0 0.0 67.78 Obalon Therapeutics 0 1 6.610 3.430 0 0 0.0 0.0 NA Ocular Therapeutix I 2 0 4.450 6.510 0 0 0.0 0.0 46.29 Omnicell Inc 41 40 48.500 43.400 2 2 0.1 0.1 -10.52 Ophthotech Corp 2 11 3.120 2.740 0 0 0.0 0.0 -12.18 Opko Health Inc 121 119 4.900 3.170 1 0 0.0 0.0 -35.31 Orasure Technologies 125 123 18.860 16.890 2 2 0.1 0.1 -10.45 Orthofix Intl N V 23 23 54.700 58.780 1 1 0.1 0.1 7.46 Otonomy Inc 18 25 5.550 4.200 0 0 0.0 0.0 -24.32 Owens & Minor Inc Ne 71 69 18.880 15.550 1 1 0.1 0.1 -16.36 Pain Therapeutics In 1 1 4.000 7.090 0 0 0.0 0.0 77.25 Patterson Companies 32 59 36.130 22.230 1 1 0.1 0.1 -38.04 Pdl Biopharma Inc 111 137 2.740 2.940 0 0 0.0 0.0 7.30 Pfenex Inc 3 6 2.660 6.000 0 0 0.0 0.0 125.56 Phibro Animal Health 17 16 33.500 39.700 1 1 0.0 0.0 18.81 Prestige Brands Hldg 60 59 44.410 33.720 3 2 0.1 0.1 -24.07 Providence Svc Corp 19 19 59.340 69.140 1 1 0.1 0.1 16.51 Psychemedics Corp 5 6 20.560 20.680 0 0 0.0 0.0 1.34 Ptc Therapeutics Inc 23 7 16.680 27.060 0 0 0.0 0.0 62.23
61 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Quality Sys Inc 70 69 13.580 13.650 1 1 0.1 0.1 0.52 Quidel Corp 29 28 43.350 51.810 1 1 0.1 0.1 19.52 Quorum Health Corp 22 27 6.240 8.180 0 0 0.0 0.0 31.09 R1 Rcm Inc 19 32 4.410 7.140 0 0 0.0 0.0 61.90 Ra Pharmaceuticals I 2 10 8.500 5.310 0 0 0.0 0.0 -37.53 Radnet Inc 59 58 10.100 14.400 1 1 0.0 0.0 42.57 Recro Pharma Inc 6 6 9.250 11.010 0 0 0.0 0.0 19.03 Repligen Corp 20 21 36.280 36.180 1 1 0.0 0.0 -0.28 Retrophin Inc 36 35 21.070 22.360 1 1 0.0 0.0 6.12 Rti Biologics Inc 66 66 4.100 4.600 0 0 0.0 0.0 12.20 Sangamo Biosciences 9 9 16.400 19.000 0 0 0.0 0.0 15.85 Scynexis Inc 3 3 2.320 1.340 0 0 0.0 0.0 -42.24 Seaspine Hldgs Corp 10 11 10.120 10.140 0 0 0.0 0.0 0.20 Select Med Hldgs Cor 128 136 17.650 17.250 2 2 0.1 0.1 -2.27 Sierra Oncology Inc 1 8 3.730 2.070 0 0 0.0 0.0 -44.50 Simulations Plus Inc 15 16 16.100 14.750 0 0 0.0 0.0 -8.04 Spectrum Pharmaceuti 88 86 18.950 16.090 2 1 0.1 0.1 -15.09 Stemline Therapeutic 7 7 15.600 15.300 0 0 0.0 0.0 -1.92 Sucampo Pharmaceutic 54 0 17.950 NA 1 0 0.1 0.0 NA Supernus Pharmaceuti 50 49 39.850 45.800 2 2 0.1 0.1 14.93 Surgery Partners Inc 23 23 12.100 17.150 0 0 0.0 0.0 41.74 Surmodics Inc 20 20 28.000 38.050 1 1 0.0 0.0 35.89
62 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Syndax Pharmaceutica 7 14 8.760 14.230 0 0 0.0 0.0 62.44 Syneos Health Inc 0 39 43.600 35.500 0 1 0.0 0.1 NA Synlogic Inc 0 2 9.700 9.380 0 0 0.0 0.0 NA Taro Pharmaceutical 0 1 104.710 98.740 0 0 0.0 0.0 NA Teligent Inc New 0 1 3.630 3.360 0 0 0.0 0.0 NA Tenax Therapeutics I 0 1 0.490 5.490 0 0 0.0 0.0 NA Tenet Healthcare Cor 53 52 15.160 24.250 1 1 0.0 0.1 59.96 Tetraphase Pharmaceu 55 58 6.300 3.070 0 0 0.0 0.0 -51.27 Tivity Health Inc 35 35 36.550 39.650 1 1 0.1 0.1 8.48 Trevena Inc 58 57 1.600 1.640 0 0 0.0 0.0 2.50 Triple-S Mgmt Corp 19 19 24.850 26.140 0 0 0.0 0.0 5.19 U S Physical Therapy 13 13 72.200 81.300 1 1 0.1 0.1 12.92 Utah Med Prods Inc 3 4 81.400 98.850 0 0 0.0 0.0 21.79 Varex Imaging Corp 6 10 40.170 35.780 0 0 0.0 0.0 -10.93 Verastem Inc 15 14 3.070 2.980 0 0 0.0 0.0 -2.93 Versartis Inc 5 6 2.200 1.650 0 0 0.0 0.0 -25.00 Vital Therapies Inc 1 1 5.950 6.800 0 0 0.0 0.0 14.29 Voyager Therapeutics 4 3 16.600 18.790 0 0 0.0 0.0 13.19 Zafgen Inc 12 19 4.620 7.450 0 0 0.0 0.0 61.26 Zogenix Inc 14 14 40.050 40.050 1 1 0.0 0.0 -0.00 Zynerba Pharmaceutic 2 2 12.520 8.690 0 0 0.0 0.0 -30.59 151 154 8.5 8.8 4.26
63 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials 1st Source Corp 23 22 49.450 50.620 1 1 0.1 0.1 2.80 A Mark Precious Meta 8 8 14.710 12.250 0 0 0.0 0.0 -16.12 Access Natl Corp 8 8 27.840 28.530 0 0 0.0 0.0 3.02 Allegiance Bancshare 0 2 37.650 39.150 0 0 0.0 0.0 NA Ambac Finl Group Inc 36 35 15.980 15.680 1 1 0.0 0.0 -1.88 American Eqty Invt L 82 83 30.730 29.360 3 2 0.1 0.1 -4.46 American Natl Banksh 4 5 38.300 37.600 0 0 0.0 0.0 -1.15 American Natl Ins Co 5 5 128.250 116.960 1 1 0.0 0.0 -8.16 American Riv Hldgs 1 1 15.250 15.510 0 0 0.0 0.0 2.04 Ameris Bancorp 44 43 48.200 52.900 2 2 0.1 0.1 9.96 Amerisafe Inc 24 24 61.600 55.250 1 1 0.1 0.1 -9.96 Ameriserv Finl Inc 29 28 4.150 4.000 0 0 0.0 0.0 -3.26 Amtrust Financial Se 21 21 10.070 12.310 0 0 0.0 0.0 23.93 Argo Group Intl Hldg 20 19 61.650 57.400 1 1 0.1 0.1 7.61 Arrow Finl Corp 10 11 33.950 33.950 0 0 0.0 0.0 0.78 Artisan Partners Ass 50 49 39.500 33.300 2 2 0.1 0.1 -12.18 Aspen Insurance Hold 70 89 40.600 44.850 3 4 0.2 0.2 11.19 Associated Banc Corp 146 170 25.400 24.850 4 4 0.2 0.2 -1.57 Assured Guaranty Ltd 0 16 33.870 36.200 0 1 0.0 0.0 NA Asta Fdg Inc 1 1 7.400 3.700 0 0 0.0 0.0 4.64 Atlantic Amern Corp 2 2 3.350 3.250 0 0 0.0 0.0 -2.99 Atlantic Cap Bancsha 1 2 17.600 18.100 0 0 0.0 0.0 2.84
64 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Atlantic Coast Finl 1 1 9.430 10.300 0 0 0.0 0.0 9.23 Atlanticus Hldgs Cor 8 7 2.400 2.140 0 0 0.0 0.0 -10.83 Atlas Financial Hold 5 6 20.550 10.350 0 0 0.0 0.0 -49.63 Axis Capital Holding 0 2 50.260 57.570 0 0 0.0 0.0 NA Baldwin & Lyons Inc 4 4 23.950 22.000 0 0 0.0 0.0 -7.01 Banc Calif Inc 43 42 20.650 19.300 1 1 0.0 0.0 -5.96 Bancfirst Corp 21 21 51.150 53.100 1 1 0.1 0.1 4.22 Bancorp Inc Del 61 65 9.880 10.800 1 1 0.0 0.0 9.31 Bancorpsouth Bk Tupe 159 157 31.450 31.800 5 5 0.3 0.3 1.54 Bank Comm Hldgs 1 3 11.500 11.650 0 0 0.0 0.0 1.30 Bank Hawaii Corp 39 38 85.700 83.100 3 3 0.2 0.2 -2.43 Bank Mutual Corp New 34 0 10.650 NA 0 0 0.0 0.0 NA Bank Southn Ore Medf 1 1 14.550 16.200 0 0 0.0 0.0 11.72 Bank of Marin Bancor 2 3 68.000 68.950 0 0 0.0 0.0 1.82 Bank of Nt Butterfie 1 5 36.290 44.880 0 0 0.0 0.0 24.67 Bankfinancial Corp 14 14 15.340 16.980 0 0 0.0 0.0 11.27 Bankunited Inc 7 0 40.720 39.980 0 0 0.0 0.0 -1.33 Banner Corp 36 36 55.120 55.490 2 2 0.1 0.1 1.12 Bar Hbr Bankshares 7 7 27.010 27.720 0 0 0.0 0.0 3.31 Bcb Bancorp Inc 3 4 14.500 15.650 0 0 0.0 0.0 8.93 Bear St Finl Inc 2 2 10.230 10.250 0 0 0.0 0.0 0.49 Beneficial Bancorp I 70 69 16.450 15.550 1 1 0.1 0.1 -3.59
65 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Berkshire Bancorp In 1 1 12.610 12.160 0 0 0.0 0.0 -3.57 Berkshire Hills Banc 40 40 36.600 37.950 1 2 0.1 0.1 4.29 Bgc Partners Inc 337 234 15.110 13.450 5 3 0.3 0.2 -9.77 Blue Cap Reins Hldgs 1 3 12.050 12.200 0 0 0.0 0.0 3.71 Blue Hills Bancorp I 3 4 20.100 20.850 0 0 0.0 0.0 6.07 Bofi Hldg Inc 53 52 29.900 40.530 2 2 0.1 0.1 35.55 Boston Private Banco 119 118 15.450 15.050 2 2 0.1 0.1 -1.82 Bridge Bancorp Inc 7 8 35.000 33.550 0 0 0.0 0.0 -3.54 Brightsphere Investm 0 29 16.750 15.760 0 0 0.0 0.0 NA Brookline Bancorp In 76 74 15.700 16.200 1 1 0.1 0.1 3.75 Bryn Mawr Bk Corp 20 20 44.200 43.950 1 1 0.0 0.1 -0.06 Bsb Bancorp Inc Md 1 1 29.250 30.600 0 0 0.0 0.0 4.62 C & F Finl Corp 1 1 58.000 52.600 0 0 0.0 0.0 -8.71 CVB Finl Corp 140 137 23.560 22.640 3 3 0.2 0.2 -3.33 Cadence Bancorporati 0 1 27.120 27.230 0 0 0.0 0.0 NA California First Ntn 2 1 15.080 16.650 0 0 0.0 0.0 10.41 Camden Natl Corp 15 15 42.130 44.500 1 1 0.0 0.0 6.23 Cannae Hldgs Inc 1 1 17.030 18.860 0 0 0.0 0.0 10.75 Capital City Bk Grou 6 7 22.940 24.750 0 0 0.0 0.0 8.20 Capitol Fed Finl Inc 198 195 13.410 12.350 3 2 0.1 0.1 -7.31 Capstar Finl Hldgs I 0 1 20.770 18.830 0 0 0.0 0.0 NA Carolina Finl Corp N 8 9 37.150 39.280 0 0 0.0 0.0 5.86
66 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Cathay Bancorp Inc 156 156 42.170 39.980 7 6 0.4 0.4 -4.64 Centerstate Bks Fla 61 60 25.730 26.530 2 2 0.1 0.1 3.48 Central Pac Finl Cor 29 28 29.830 28.460 1 1 0.0 0.0 -3.95 Central Valley Cmnty 1 1 20.180 19.560 0 0 0.0 0.0 -2.73 Century Bancorp Inc 1 1 78.250 79.400 0 0 0.0 0.0 1.62 Charter Finl Corp Md 7 7 17.540 20.390 0 0 0.0 0.0 16.75 Chemical Finl Corp 64 64 53.470 54.680 3 3 0.2 0.2 2.78 Citizens & Northn Co 3 4 24.000 23.090 0 0 0.0 0.0 -2.70 Citizens Inc 21 21 7.350 7.320 0 0 0.0 0.0 -0.41 City Hldg Co 16 15 67.470 68.560 1 1 0.1 0.1 2.29 Civista Bancshares I 0 1 22.000 22.860 0 0 0.0 0.0 NA Clifton Bancorp Inc 20 19 17.100 15.650 0 0 0.0 0.0 -8.13 Cnb Finl Corp Pa 6 7 26.240 29.090 0 0 0.0 0.0 11.54 Cno Finl Group Inc 90 88 24.690 21.670 2 2 0.1 0.1 -11.87 Cobiz Inc 52 51 19.990 19.600 1 1 0.1 0.1 -1.69 Codorus Vy Bancorp I 1 1 27.530 28.120 0 0 0.0 0.0 2.69 Cohen & Steers Inc 22 24 47.290 40.660 1 1 0.1 0.1 -13.33 Columbia Bkg Sys Inc 104 107 43.440 41.950 5 4 0.3 0.3 -2.92 Community Bankers Tr 4 6 8.150 9.000 0 0 0.0 0.0 10.43 Community Bk Sys Inc 63 62 53.750 53.560 3 3 0.2 0.2 0.25 Community Tr Bancorp 17 17 47.100 45.200 1 1 0.0 0.0 -3.35 Community West Bancs 1 1 10.700 11.200 0 0 0.0 0.0 5.04
67 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Connectone Bancorp I 23 24 25.750 28.800 1 1 0.0 0.0 12.14 Consumer Portfolio S 22 21 4.150 3.770 0 0 0.0 0.0 -9.16 Cowen Group Inc New 13 13 13.650 13.200 0 0 0.0 0.0 -3.30 Crawford & Co 17 20 8.500 8.020 0 0 0.0 0.0 -4.87 Crawford & Co 15 18 9.620 8.220 0 0 0.0 0.0 -14.11 Customers Bancorp In 36 35 25.990 29.150 1 1 0.1 0.1 12.16 Diamond Hill Investm 3 3 206.660 206.560 1 1 0.0 0.0 -0.05 Dime Cmnty Bancorp I 42 41 20.950 18.400 1 1 0.0 0.0 -11.51 Donegal Group Inc 13 14 17.300 15.800 0 0 0.0 0.0 -7.94 Donegal Group Inc 1 1 14.000 14.000 0 0 0.0 0.0 0.83 Donnelley Finl Solut 31 36 19.490 17.170 1 1 0.0 0.0 -11.90 Eagle Bancorp Inc Md 36 35 57.900 59.850 2 2 0.1 0.1 3.37 Ehealth Inc 24 23 17.370 14.310 0 0 0.0 0.0 -17.62 Emc Ins Group Inc 11 11 28.690 27.080 0 0 0.0 0.0 -4.85 Employers Holdings I 35 34 44.400 40.450 2 1 0.1 0.1 -8.43 Encore Cap Group Inc 23 23 42.100 45.200 1 1 0.1 0.1 7.36 Enova Intl Inc 43 45 15.200 22.050 1 1 0.0 0.1 45.07 Enstar Group Limited 7 7 200.750 210.250 1 1 0.1 0.1 4.73 Entegra Finl Corp 1 2 29.250 29.000 0 0 0.0 0.0 -0.85 Enterprise Bancorp I 1 2 34.050 35.290 0 0 0.0 0.0 4.11 Enterprise Finl Svcs 26 25 45.150 46.900 1 1 0.1 0.1 4.11 Equity Bancshares In 1 3 35.410 39.160 0 0 0.0 0.0 10.59
68 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Essa Bancorp Inc 5 5 15.670 14.670 0 0 0.0 0.0 -5.80 Essent Group Ltd 21 16 43.420 42.560 1 1 0.1 0.0 -1.98 Evans Bancorp Inc 1 1 41.900 45.250 0 0 0.0 0.0 9.09 Evercore Partners In 53 50 90.000 87.200 5 4 0.3 0.2 -2.70 Ezcorp Inc 48 47 12.200 13.200 1 1 0.0 0.0 8.20 FNB Corp 134 82 13.820 13.450 2 1 0.1 0.1 -1.85 Farmers Cap Bk Corp 3 4 38.500 39.950 0 0 0.0 0.0 4.12 Farmers Natl Banc Co 5 6 14.750 13.850 0 0 0.0 0.0 -5.63 Fb Finl Corp 0 1 41.990 40.590 0 0 0.0 0.0 NA Fbl Finl Group Inc 16 16 69.650 69.350 1 1 0.1 0.1 2.35 Fcb Finl Hldgs Inc 44 43 50.800 51.100 2 2 0.1 0.1 0.59 Federal Agric Mtg Co 7 7 78.240 87.020 1 1 0.0 0.0 11.95 Federated Invs Inc P 120 118 36.080 33.400 4 4 0.2 0.2 -6.73 Federated Natl Hldg 16 16 16.570 15.770 0 0 0.0 0.0 -4.31 Fidelity Southn Corp 29 29 21.800 23.070 1 1 0.0 0.0 6.35 Financial Engines In 46 45 30.300 35.000 1 2 0.1 0.1 15.78 Financial Instns Inc 14 15 31.100 29.600 0 0 0.0 0.0 -4.11 First Acceptance Cor 1 1 1.190 0.850 0 0 0.0 0.0 -28.57 First Amern Finl Cor 6 0 56.040 58.680 0 0 0.0 0.0 5.40 First Bancorp Inc Me 6 7 27.230 27.980 0 0 0.0 0.0 3.65 First Bancorp N C 24 28 35.310 35.650 1 1 0.0 0.1 1.24 First Bancorp P R 143 174 5.100 6.020 1 1 0.0 0.1 18.04
69 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) First Bancshares Inc 0 1 34.200 32.250 0 0 0.0 0.0 NA First Bus Finl Svcs 2 3 22.120 25.160 0 0 0.0 0.0 14.41 First Busey Corp 45 46 29.940 29.720 1 1 0.1 0.1 -0.11 First Citizens Bancs 1 0 403.000 413.240 0 0 0.0 0.0 2.62 First Cmnty Bancshar 13 13 28.730 29.850 0 0 0.0 0.0 6.32 First Comwlth Finl P 93 94 14.320 14.130 1 1 0.1 0.1 -0.79 First Conn Bancorp I 5 5 26.150 25.600 0 0 0.0 0.0 -1.51 First Defiance Finl 6 7 51.970 57.320 0 0 0.0 0.0 10.91 First Financial Nort 9 8 15.510 16.750 0 0 0.0 0.0 8.46 First Finl Bancorp 75 73 26.350 29.350 2 2 0.1 0.1 12.16 First Finl Bankshare 50 52 45.050 46.300 2 2 0.1 0.1 3.18 First Finl Corp Ind 5 5 45.350 41.600 0 0 0.0 0.0 -7.24 First Fndtn Inc 6 13 18.540 18.540 0 0 0.0 0.0 -0.00 First Hawaiian Inc 0 4 29.180 27.830 0 0 0.0 0.0 NA First Horizon Natl C 71 0 19.990 18.830 1 0 0.1 0.0 -5.24 First Internet Banco 1 2 38.150 37.000 0 0 0.0 0.0 -2.86 First Intst Bancsyst 37 45 40.050 39.550 1 2 0.1 0.1 -0.56 First Long Is Corp 13 14 28.500 27.450 0 0 0.0 0.0 -3.19 First Merchants Corp 51 52 42.060 41.700 2 2 0.1 0.1 -0.42 First Midwest Bancor 134 131 24.010 24.590 3 3 0.2 0.2 2.87 First Northwest Banc 1 2 16.300 16.890 0 0 0.0 0.0 3.62 First Utd Corp 1 1 17.450 19.200 0 0 0.0 0.0 10.03
70 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Firstcash Inc 67 68 67.450 81.250 5 6 0.3 0.3 20.83 Flagstar Bancorp Inc 39 43 37.420 35.400 1 2 0.1 0.1 -5.40 Flushing Finl Corp 29 29 27.500 26.960 1 1 0.0 0.0 -1.26 Fnb Bancorp Calif 0 1 36.490 36.790 0 0 0.0 0.0 NA Franklin Finl Networ 5 8 34.100 32.600 0 0 0.0 0.0 -4.40 Fulton Finl Corp Pa 223 218 17.900 17.750 4 4 0.2 0.2 -0.17 Gain Cap Hldgs Inc 37 36 10.000 6.750 0 0 0.0 0.0 -31.89 Gamco Investors Inc 4 5 29.650 24.830 0 0 0.0 0.0 -16.19 Genworth Finl Inc 70 68 3.110 2.830 0 0 0.0 0.0 -9.00 German Amern Bancorp 13 14 35.330 33.350 0 0 0.0 0.0 -5.18 Glacier Bancorp Inc 97 95 39.390 38.380 4 4 0.2 0.2 -2.56 Global Indty Ltd Cay 7 7 42.020 34.520 0 0 0.0 0.0 -17.27 Great Southn Bancorp 13 13 51.650 49.950 1 1 0.0 0.0 -2.75 Great Westn Bancorp 34 41 39.800 40.270 1 2 0.1 0.1 1.69 Green Bancorp Inc 15 20 20.300 22.250 0 0 0.0 0.0 9.61 Green Dot Corp 67 65 60.260 64.160 4 4 0.2 0.2 6.47 Greenhill & Co Inc 30 29 19.500 18.500 1 1 0.0 0.0 -4.89 Greenlight Capital R 32 35 20.100 16.050 1 1 0.0 0.0 -20.15 Guaranty Bancorp Del 17 18 27.650 28.350 0 1 0.0 0.0 3.12 Hallmark Finl Svcs I 15 14 10.430 8.920 0 0 0.0 0.0 -14.48 Hancock Hldg Co 42 38 49.500 51.700 2 2 0.1 0.1 4.92 Hanmi Finl Corp 44 44 30.350 30.750 1 1 0.1 0.1 2.09
71 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Hanover Ins Group In 6 5 108.080 117.890 1 1 0.0 0.0 9.59 Harborone Bancorp In 0 1 19.160 17.660 0 0 0.0 0.0 NA Hci Group Inc 17 21 29.900 38.160 1 1 0.0 0.0 28.89 Health Ins Innovatio 6 6 24.950 28.900 0 0 0.0 0.0 15.83 Heartland Finl Usa I 23 26 53.650 53.050 1 1 0.1 0.1 -0.88 Heritage Commerce Co 40 41 15.320 16.480 1 1 0.0 0.0 8.34 Heritage Finl Corp W 27 28 30.800 30.600 1 1 0.0 0.0 -0.15 Heritage Ins Hldgs I 7 6 18.020 15.160 0 0 0.0 0.0 -15.58 Hilltop Holdings Inc 112 109 25.330 23.460 3 3 0.2 0.1 -7.13 Hingham Instn Svgs M 1 1 207.000 206.000 0 0 0.0 0.0 -0.15 Hmn Finl Inc 3 3 19.150 18.500 0 0 0.0 0.0 -3.39 Home Bancshares Inc 125 122 23.250 22.810 3 3 0.2 0.2 -1.43 Homestreet Inc 30 29 28.950 28.650 1 1 0.0 0.0 -1.04 Hometrust Bancshares 5 5 25.750 26.050 0 0 0.0 0.0 1.17 Hope Bancorp Inc 189 185 18.250 18.190 3 3 0.2 0.2 0.37 Hopfed Bancorp Inc 1 1 14.220 14.500 0 0 0.0 0.0 2.33 Horace Mann Educator 30 30 44.100 42.750 1 1 0.1 0.1 -2.44 Horizon Bancorp Ind 14 18 27.800 30.010 0 1 0.0 0.0 8.47 Houlihan Lokey Inc 11 18 45.430 44.600 0 1 0.0 0.0 -1.39 Howard Bancorp Inc 0 1 22.000 19.800 0 0 0.0 0.0 NA Iberiabank Corp 21 17 77.500 78.000 2 1 0.1 0.1 1.14 Impac Mtg Hldgs Inc 1 1 10.160 7.900 0 0 0.0 0.0 -22.24
72 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Independent Bank Cor 3 3 22.350 22.900 0 0 0.0 0.0 3.14 Independent Bk Cp Ma 32 31 69.850 71.550 2 2 0.1 0.1 2.99 Independent Bk Group 8 12 67.600 70.700 1 1 0.0 0.0 4.77 Infinity Ppty & Cas 5 5 106.000 118.400 1 1 0.0 0.0 12.25 Interactive Brokers 75 74 59.210 67.240 4 5 0.2 0.3 13.73 International Bncshr 77 76 39.700 38.900 3 3 0.2 0.2 -1.18 Intl Fcstone Inc 19 19 42.530 42.680 1 1 0.0 0.0 0.35 Investment Technolog 24 23 19.250 19.740 0 0 0.0 0.0 2.90 Investors Bancorp In 0 11 13.880 13.640 0 0 0.0 0.0 NA Investors Title Co 1 1 198.350 199.900 0 0 0.0 0.0 0.98 James Riv Group Ltd 11 17 40.010 35.470 0 1 0.0 0.0 -10.58 Janus Henderson Grou 30 15 38.260 33.090 1 0 0.1 0.0 -12.73 Kearny Finl Corp Md 58 61 14.450 13.000 1 1 0.0 0.0 -9.83 Kemper Corp Del 48 52 68.900 57.000 3 3 0.2 0.2 -16.93 Kentucky First Fed B 1 1 8.950 8.700 0 0 0.0 0.0 -1.69 Kingstone Cos Inc 5 7 18.800 16.800 0 0 0.0 0.0 -10.19 Kinsale Cap Group In 0 2 45.000 51.330 0 0 0.0 0.0 NA Ladenburg Thalman Fi 74 82 3.160 3.270 0 0 0.0 0.0 3.77 Lakeland Bancorp Inc 45 45 19.250 19.850 1 1 0.0 0.1 3.62 Lakeland Finl Corp 28 27 48.490 46.230 1 1 0.1 0.1 -4.24 Landmark Bancorp Inc 1 1 29.000 29.000 0 0 0.0 0.0 0.70 Legacy Tex Finl Grou 64 62 42.210 42.820 3 3 0.2 0.2 1.81
73 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Legg Mason Inc 35 35 41.980 40.650 1 1 0.1 0.1 -2.51 Lendingclub Corp 327 334 4.130 3.500 1 1 0.1 0.1 -15.25 Lendingtree Inc New 12 12 340.450 328.150 4 4 0.2 0.2 -3.61 Live Oak Bancshares 0 1 23.850 27.800 0 0 0.0 0.0 NA Lpl Finl Hldgs Inc 13 8 57.140 61.070 1 0 0.0 0.0 7.29 MBIA Inc 116 96 7.320 9.260 1 1 0.0 0.1 26.50 Macatawa Bk Corp 26 28 10.000 10.270 0 0 0.0 0.0 3.32 Mackinac Finl Corp 4 4 16.000 16.160 0 0 0.0 0.0 1.00 Maiden Holdings Ltd 86 88 6.600 6.500 1 1 0.0 0.0 0.76 Mainsource Financial 26 25 36.310 40.650 1 1 0.1 0.1 12.47 Manning & Napier Inc 15 18 3.600 3.500 0 0 0.0 0.0 -0.83 Marlin Business Svcs 13 13 22.400 28.350 0 0 0.0 0.0 27.22 Mb Financial Inc New 60 80 44.520 40.480 3 3 0.2 0.2 -8.57 Mbt Finl Corp 9 12 10.600 10.750 0 0 0.0 0.0 8.11 Mercantile Bank Corp 9 10 35.370 33.250 0 0 0.0 0.0 -5.41 Mercury Genl Corp Ne 65 63 53.440 45.870 3 3 0.2 0.2 -13.02 Meridian Bancorp Inc 54 54 20.600 20.150 1 1 0.1 0.1 -1.95 Meta Finl Group Inc 11 10 92.650 109.200 1 1 0.1 0.1 18.00 Mgic Invt Corp Wis 45 27 14.110 13.000 1 0 0.0 0.0 -7.87 Midland Sts Bancorp 0 1 32.480 31.560 0 0 0.0 0.0 NA Midsouth Bancorp 6 8 13.250 12.650 0 0 0.0 0.0 -4.46 Midwestone Finl Grou 1 1 33.530 33.290 0 0 0.0 0.0 -0.11
74 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Moelis & Co 27 27 48.500 50.850 1 1 0.1 0.1 8.76 Morningstar Inc 6 6 96.970 95.520 1 1 0.0 0.0 -1.24 Mutualfirst Finl Inc 2 3 38.550 36.250 0 0 0.0 0.0 -5.49 NBT Bancorp 48 47 36.800 35.480 2 2 0.1 0.1 -2.95 National Bk Hldgs Co 32 31 32.430 33.250 1 1 0.1 0.1 2.80 National Comm Corp 2 2 40.250 43.550 0 0 0.0 0.0 8.20 National Gen Hldgs C 63 65 19.640 24.310 1 2 0.1 0.1 23.98 National Westn Life 1 1 331.020 304.880 0 0 0.0 0.0 -7.90 Nationstar Mtg Hldgs 4 5 18.500 17.960 0 0 0.0 0.0 -2.92 Navient Corp 141 164 13.320 13.120 2 2 0.1 0.1 -0.28 Navigators Group Inc 19 19 48.700 57.650 1 1 0.1 0.1 18.53 Nelnet Inc 31 31 54.780 52.410 2 2 0.1 0.1 -4.05 Nicholas Financial I 5 5 8.800 9.070 0 0 0.0 0.0 3.07 Nmi Hldgs Inc 40 44 17.000 16.550 1 1 0.0 0.0 -2.65 Northeast Bancorp 1 2 23.150 20.500 0 0 0.0 0.0 -11.41 Northfield Bancorp I 52 51 17.080 15.610 1 1 0.0 0.0 -8.03 Northrim Bancorp Inc 6 6 33.850 34.550 0 0 0.0 0.0 2.75 Northwest Bancshares 145 142 16.730 16.560 2 2 0.1 0.1 -0.02 Oceanfirst Finl Corp 34 41 26.250 26.750 1 1 0.1 0.1 2.48 Ocwen Finl Corp 81 79 3.130 4.120 0 0 0.0 0.0 31.63 Ofg Bancorp 41 40 9.400 10.450 0 0 0.0 0.0 11.79 Ohio Vy Banc Corp 1 1 40.400 41.850 0 0 0.0 0.0 4.10
75 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Old Line Bancshares 3 4 29.440 33.000 0 0 0.0 0.0 12.36 Old Natl Bancp Ind 166 165 17.450 16.900 3 3 0.2 0.2 -2.41 Old Second Bancorp I 8 8 13.650 13.900 0 0 0.0 0.0 1.90 Om Asset Mgmt Plc 26 0 16.750 15.760 0 0 0.0 0.0 -5.37 On Deck Cap Inc 16 30 5.740 5.590 0 0 0.0 0.0 -2.61 Onemain Hldgs Inc 2 8 25.990 29.940 0 0 0.0 0.0 15.20 Oppenheimer Hldgs 7 7 26.800 25.750 0 0 0.0 0.0 -3.52 Opus Bk Irvine Calif 16 19 27.300 28.000 0 1 0.0 0.0 2.94 Oritani Finl Corp De 51 52 16.400 15.350 1 1 0.0 0.0 -4.94 Pacific Mercantile B 10 10 8.750 9.550 0 0 0.0 0.0 9.14 Pacific Premier Banc 43 44 40.000 40.200 2 2 0.1 0.1 0.50 Park Natl Corp 9 8 104.000 103.760 1 1 0.1 0.0 0.67 Peapack-Gladstone Fi 13 15 35.020 33.390 0 1 0.0 0.0 -4.52 Penns Woods Bancorp 2 2 46.580 42.310 0 0 0.0 0.0 -8.18 Pennymac Finl Svcs I 26 26 22.350 22.650 1 1 0.0 0.0 1.34 Peoples Bancorp Inc 15 16 32.620 35.450 0 1 0.0 0.0 9.47 Peoples Utah Bancorp 5 6 30.300 32.300 0 0 0.0 0.0 6.90 Phh Corp 91 89 10.300 10.460 1 1 0.1 0.1 1.55 Piper Jaffray Cos 7 7 86.250 83.050 1 1 0.0 0.0 -1.48 Pjt Partners Inc 6 12 45.600 50.100 0 1 0.0 0.0 9.98 Popular Inc 77 78 35.490 41.620 3 3 0.2 0.2 17.93 Pra Group Inc 61 60 33.200 38.000 2 2 0.1 0.1 14.46
76 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Preferred Bk Los Ang 15 15 58.780 64.200 1 1 0.0 0.1 9.62 Premier Finl Bancorp 4 5 20.080 18.610 0 0 0.0 0.0 -6.57 Primerica Inc 51 49 101.550 96.600 5 5 0.3 0.3 -4.63 Proassurance Corp 72 71 57.150 48.550 4 3 0.2 0.2 -14.51 Provident Finl Hldgs 7 7 18.400 18.090 0 0 0.0 0.0 -0.93 Provident Finl Svcs 53 52 26.970 25.590 1 1 0.1 0.1 -4.38 Prudential Bancorp I 1 2 17.600 18.140 0 0 0.0 0.0 3.35 Pzena Investment Mgm 15 17 10.670 11.130 0 0 0.0 0.0 8.49 Qcr Holdings Inc 6 8 42.850 44.850 0 0 0.0 0.0 4.80 RLI Corp 50 49 60.660 63.390 3 3 0.2 0.2 4.86 Radian Group Inc 3 0 20.610 19.040 0 0 0.0 0.0 -7.61 Regional Mgmt Corp 11 12 26.310 31.840 0 0 0.0 0.0 21.02 Renasant Corp 52 51 40.890 42.560 2 2 0.1 0.1 4.53 Republic Bancorp Ky 9 9 38.020 38.300 0 0 0.0 0.0 1.35 Republic First Banco 13 13 8.450 8.700 0 0 0.0 0.0 2.96 Riverview Bancorp In 12 14 8.670 9.340 0 0 0.0 0.0 8.10 S & T Bancorp Inc 32 33 39.810 39.940 1 1 0.1 0.1 0.89 Safeguard Scientific 35 36 11.200 12.250 0 0 0.0 0.0 9.37 Safety Ins Group Inc 19 19 80.400 76.850 2 1 0.1 0.1 -3.34 Sandy Spring Bancorp 27 27 39.020 38.760 1 1 0.1 0.1 0.03 Seacoast Bkg Corp Fl 38 38 25.210 26.470 1 1 0.1 0.1 5.00 Selective Ins Group 79 78 58.700 60.700 5 5 0.3 0.3 3.73
77 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Servisfirst Bancshar 37 41 41.500 40.820 2 2 0.1 0.1 -1.37 Shore Bancshares Inc 3 4 16.700 18.860 0 0 0.0 0.0 13.39 Si Finl Group Inc Md 2 2 14.700 14.400 0 0 0.0 0.0 -1.63 Sierra Bancorp 12 13 26.560 26.640 0 0 0.0 0.0 0.89 Silvercrest Asset Mg 2 2 16.050 15.200 0 0 0.0 0.0 -4.43 Simmons First Nation 92 90 57.100 28.450 5 3 0.3 0.1 0.15 Smartfinancial Inc 0 1 21.700 23.560 0 0 0.0 0.0 NA South St Corp 36 36 87.150 85.300 3 3 0.2 0.2 -1.74 Southern First Bancs 3 4 41.250 44.500 0 0 0.0 0.0 7.88 Southern Mo Bancorp 1 1 37.590 36.600 0 0 0.0 0.0 -2.34 Southern Natl Bancor 2 3 16.030 15.840 0 0 0.0 0.0 -0.69 Southside Bancshares 33 32 33.680 34.740 1 1 0.1 0.1 3.98 State Auto Finl Corp 18 18 29.120 28.570 1 1 0.0 0.0 -1.56 State Bk Finl Corp 25 27 29.840 30.010 1 1 0.0 0.0 1.25 Sterling Bancorp Del 334 277 24.600 22.550 8 6 0.5 0.4 -8.08 Stewart Information 38 37 42.300 43.940 2 2 0.1 0.1 4.64 Stifel Finl Corp 50 48 59.560 59.230 3 3 0.2 0.2 -0.37 Stock Yds Bancorp In 21 20 37.700 35.100 1 1 0.0 0.0 -6.30 Summit Financial Gro 0 1 26.320 25.010 0 0 0.0 0.0 NA Sun Bancorp Inc 9 0 24.300 NA 0 0 0.0 0.0 NA Sussex Bancorp 1 2 26.900 30.400 0 0 0.0 0.0 13.25 TCF Bkg & Svgs Fa Mi 224 219 20.500 22.810 5 5 0.3 0.3 12.02
78 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Territorial Bancorp 7 7 30.870 29.660 0 0 0.0 0.0 -3.29 Texas Capital Bancsh 19 17 88.900 89.900 2 2 0.1 0.1 1.12 Third Pt Reins Ltd 4 8 14.650 13.950 0 0 0.0 0.0 -4.78 Timberland Bancorp I 8 8 26.550 30.400 0 0 0.0 0.0 15.03 Tiptree Finl Inc 32 31 5.950 6.350 0 0 0.0 0.0 7.24 Tompkins Cnty Trustc 15 15 81.350 75.760 1 1 0.1 0.1 -6.31 Townebank Portsmouth 53 56 30.750 28.600 2 2 0.1 0.1 -6.54 Trico Bancshares 22 22 37.860 37.220 1 1 0.0 0.0 -1.27 Tristate Cap Hldgs I 18 23 23.000 23.250 0 1 0.0 0.0 1.09 Triumph Bancorp Inc 5 7 31.500 41.200 0 0 0.0 0.0 30.79 Trustco Bk Corp N Y 117 115 9.200 8.450 1 1 0.1 0.1 -7.44 Trustmark Corp 93 92 31.860 31.160 3 3 0.2 0.2 -1.48 Umb Finl Corp 48 50 71.920 72.390 3 4 0.2 0.2 1.04 Umpqua Hldgs Corp 3 0 20.800 21.410 0 0 0.0 0.0 3.89 Unico Amern Corp 1 1 8.500 7.950 0 0 0.0 0.0 -6.47 Union Bankshares Cor 46 53 36.170 36.710 2 2 0.1 0.1 2.09 United Bankshs Inc W 69 69 34.750 35.250 2 2 0.1 0.1 2.37 United Cmnty Bks Bla 93 89 28.140 31.650 3 3 0.1 0.2 12.89 United Cmnty Finl Co 55 55 9.130 9.860 1 1 0.0 0.0 8.66 United Finl Bancorp 46 47 17.640 16.200 1 1 0.0 0.0 -7.51 United Fire Group In 15 15 45.580 47.860 1 1 0.0 0.0 5.65 United Ins Hldgs Cor 31 31 17.250 19.140 1 1 0.0 0.0 11.30
79 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) United Security Banc 4 4 11.000 10.750 0 0 0.0 0.0 -1.65 Unity Bancorp Inc 2 2 19.750 22.000 0 0 0.0 0.0 11.69 Universal Ins Hldgs 34 33 27.350 31.900 1 1 0.1 0.1 17.17 Univest Corp Pa 23 24 28.050 27.700 1 1 0.0 0.0 -0.56 Validus Holdings Ltd 7 27 46.920 67.450 0 2 0.0 0.1 44.56 Valley Natl Bancorp 296 295 11.220 12.460 3 4 0.2 0.2 11.99 Value Line Inc 3 3 19.350 18.300 0 0 0.0 0.0 -3.61 Veritex Hldgs Inc 10 11 27.590 27.670 0 0 0.0 0.0 0.29 Virtu Finl Inc 19 19 18.300 33.000 0 1 0.0 0.0 81.79 Virtus Invt Partners 10 10 115.050 123.800 1 1 0.1 0.1 7.98 WSFS Finl Corp 31 30 47.850 47.900 1 1 0.1 0.1 0.29 Waddell & Reed Finl 100 98 22.340 20.210 2 2 0.1 0.1 -8.51 Walker & Dunlop Inc 38 38 47.500 59.420 2 2 0.1 0.1 25.74 Washington Fed Inc 85 84 34.250 34.600 3 3 0.2 0.2 1.52 Washington Tr Bancor 19 18 53.250 53.750 1 1 0.1 0.1 1.75 Waterstone Finl Inc 20 21 17.050 17.300 0 0 0.0 0.0 5.13 Webster Finl Corp Co 22 1 56.160 55.400 1 0 0.1 0.0 -0.87 Wesbanco Inc 41 42 40.650 42.300 2 2 0.1 0.1 4.75 West Bancorporation 13 13 25.150 25.600 0 0 0.0 0.0 2.55 Westamerica Bancorp 21 20 59.550 58.080 1 1 0.1 0.1 -1.80 Western New Eng Banc 22 23 10.900 10.650 0 0 0.0 0.0 -1.90 Westwood Hldgs Group 10 10 66.210 56.490 1 1 0.0 0.0 -13.64
80 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Wintrust Financial C 38 36 82.370 86.050 3 3 0.2 0.2 4.71 Wisdomtree Invts Inc 120 120 12.550 9.170 2 1 0.1 0.1 -26.71 World Accep Corp Del 9 9 80.720 105.300 1 1 0.0 0.1 30.45 367 364 20.5 20.8 0.78 Information Technology Acacia Communication 2 2 36.230 38.460 0 0 0.0 0.0 6.16 Aci Worldwide Inc 118 116 22.670 23.720 3 3 0.2 0.2 4.63 Actua Corp 59 9 15.600 1.150 1 0 0.1 0.0 36.51 Acxiom Corp 82 81 27.560 22.710 2 2 0.1 0.1 -17.60 Adtran Inc 61 59 19.350 15.550 1 1 0.1 0.1 -19.19 Advanced Energy Inds 46 45 67.480 63.900 3 3 0.2 0.2 -5.31 Agilysys Inc 29 35 12.280 11.920 0 0 0.0 0.0 -2.93 Alpha & Omega Semico 23 23 16.360 15.450 0 0 0.0 0.0 -5.56 Ambarella Inc 6 16 58.750 48.990 0 1 0.0 0.0 -16.61 American Software In 30 30 11.630 13.000 0 0 0.0 0.0 12.86 Amkor Technology Inc 251 246 10.050 10.130 3 2 0.1 0.1 0.80 Amtech Sys Inc 14 17 10.070 7.320 0 0 0.0 0.0 -27.31 Angi Homeservices In 19 0 10.460 13.580 0 0 0.0 0.0 29.83 Anixter Intl Inc 33 33 76.000 75.750 3 2 0.1 0.1 -0.33 Appfolio Inc 0 4 41.500 40.850 0 0 0.0 0.0 NA Applied Optoelectron 7 6 37.820 25.060 0 0 0.0 0.0 -33.74 Astro Med Inc New 3 3 14.000 15.500 0 0 0.0 0.0 11.22
81 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Asure Software Inc 9 9 14.120 12.240 0 0 0.0 0.0 -13.31 Autoweb Inc 6 6 9.010 2.980 0 0 0.0 0.0 -66.93 Aviat Networks Inc 3 3 15.170 16.760 0 0 0.0 0.0 10.48 Avid Technology Inc 71 71 5.390 4.540 0 0 0.0 0.0 -15.77 Avx Corp New 44 47 17.300 16.550 1 1 0.0 0.0 -3.71 Aware Inc Mass 13 12 4.500 4.150 0 0 0.0 0.0 -7.78 Axcelis Technologies 49 48 28.700 24.600 1 1 0.1 0.1 -14.29 Axt Inc 50 49 8.700 7.250 0 0 0.0 0.0 -16.67 Badger Meter Inc 29 28 47.800 47.150 1 1 0.1 0.1 -1.09 Barracuda Networks I 49 0 27.500 NA 1 0 0.1 0.0 NA Bazaarvoice Inc 82 0 5.450 NA 0 0 0.0 0.0 NA Bel Fuse Inc 1 1 21.820 16.500 0 0 0.0 0.0 -24.18 Bel Fuse Inc 13 12 25.175 18.900 0 0 0.0 0.0 -24.71 Belden Cdt Inc 44 43 77.170 68.940 3 3 0.2 0.2 -10.61 Benchmark Electrs In 27 26 29.100 29.850 1 1 0.0 0.0 3.10 Black Box Corp Del 26 29 3.550 2.000 0 0 0.0 0.0 -43.66 Blackbaud Inc 31 25 94.490 101.810 3 3 0.2 0.1 7.87 Blackhawk Network Hl 60 59 35.650 44.700 2 3 0.1 0.2 25.39 Blucora Inc 32 31 22.100 24.600 1 1 0.0 0.0 11.31 Bottomline Tech Del 23 20 34.680 38.750 1 1 0.0 0.0 11.74 Broadvision Inc 2 2 3.600 2.700 0 0 0.0 0.0 -25.00 Brooks Automation In 58 65 23.850 27.080 1 2 0.1 0.1 13.97
82 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Bsquare Corp 14 14 4.650 4.250 0 0 0.0 0.0 -8.60 CACI Inc 25 24 132.350 151.350 3 4 0.2 0.2 14.36 CSP Inc 1 2 15.890 10.750 0 0 0.0 0.0 -31.74 CTS Corp 25 25 25.750 27.200 1 1 0.0 0.0 5.78 CVD Equip Corp 1 1 11.620 9.130 0 0 0.0 0.0 -21.43 Cabot Microelectroni 26 26 94.080 107.110 2 3 0.1 0.2 14.26 Calamp Corp 73 72 21.430 22.880 2 2 0.1 0.1 6.77 Calix Inc 98 97 5.950 6.850 1 1 0.0 0.0 15.13 Carbonite Inc 54 53 25.100 28.800 1 2 0.1 0.1 14.74 Cardtronics Plc 45 44 18.520 22.310 1 1 0.0 0.1 20.46 Cars Com Inc 30 41 28.840 28.330 1 1 0.0 0.1 -1.77 Cass Information Sys 11 12 58.210 59.510 1 1 0.0 0.0 2.64 Ccur Hldgs Inc 0 5 5.770 4.800 0 0 0.0 0.0 NA Ceva Inc 17 17 46.150 36.200 1 1 0.0 0.0 -21.56 Ciena Corp 140 143 20.930 25.900 3 4 0.2 0.2 23.75 Cirrus Logic Corp 57 56 51.860 40.630 3 2 0.2 0.1 -21.65 Clearfield Inc 12 12 12.250 12.900 0 0 0.0 0.0 5.31 Coherent Inc 9 0 282.220 187.400 3 0 0.1 0.0 -33.60 Cohu Inc 29 30 21.950 22.810 1 1 0.0 0.0 4.23 Commercehub Inc 7 7 21.990 22.500 0 0 0.0 0.0 2.32 Communications Sys 3 3 3.640 3.670 0 0 0.0 0.0 1.90 Computer Task Group 15 15 5.100 8.190 0 0 0.0 0.0 60.59
83 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Comtech Telecommunic 22 23 22.120 29.890 0 1 0.0 0.0 35.76 Concurrent Computer 5 0 5.770 4.800 0 0 0.0 0.0 -16.81 Conduent Inc 192 198 16.160 18.640 3 4 0.2 0.2 15.35 Control4 Corp 38 44 29.760 21.480 1 1 0.1 0.1 -27.82 Convergys Corp 71 71 23.500 22.620 2 2 0.1 0.1 -3.32 Corelogic Inc 18 30 46.210 45.230 1 1 0.0 0.1 -2.12 Cray Inc 38 38 24.200 20.700 1 1 0.1 0.0 -14.46 Cree Inc 122 119 37.140 40.310 5 5 0.3 0.3 8.54 Csg Sys Intl Inc 33 32 43.820 45.290 1 1 0.1 0.1 3.82 Cui Global Inc 1 1 2.750 2.600 0 0 0.0 0.0 -5.45 Cyberoptics Corp 14 14 15.000 18.000 0 0 0.0 0.0 20.00 Daktronics Inc 66 65 9.130 8.810 1 1 0.0 0.0 -2.78 Data I O Corp 12 14 12.040 7.440 0 0 0.0 0.0 -38.21 Datawatch Corp 1 1 9.500 8.650 0 0 0.0 0.0 -8.95 Dhi Group Inc 79 77 1.900 1.600 0 0 0.0 0.0 -15.79 Diebold Inc 51 50 16.350 15.400 1 1 0.0 0.0 -5.16 Digi Intl Inc 16 17 9.550 10.300 0 0 0.0 0.0 7.85 Digital Turbine Inc 0 1 1.790 2.010 0 0 0.0 0.0 NA Diodes Inc 49 48 28.670 30.460 1 1 0.1 0.1 6.24 Document Sec Sys Inc 0 2 1.800 1.340 0 0 0.0 0.0 NA Dsp Group Inc 21 22 12.500 11.800 0 0 0.0 0.0 -5.60 Dst Sys Inc Del 10 11 62.070 83.650 1 1 0.0 0.1 34.77
84 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Eastman Kodak Co 20 20 3.100 5.350 0 0 0.0 0.0 72.58 Ebix Com Inc 17 21 79.250 74.500 1 2 0.1 0.1 -5.91 Edgewater Technology 5 5 6.240 5.550 0 0 0.0 0.0 -11.06 Egain Communications 2 3 5.250 7.950 0 0 0.0 0.0 51.43 Electro Scientific 59 59 21.430 19.330 1 1 0.1 0.1 -9.80 Electronics for Imag 50 49 29.530 27.330 1 1 0.1 0.1 -7.45 Ellie Mae Inc 22 31 89.400 91.940 2 3 0.1 0.2 2.84 Emagin Corp 2 2 1.650 1.450 0 0 0.0 0.0 -12.12 Emcore Corp 20 19 6.450 5.700 0 0 0.0 0.0 -11.63 Endurance Intl Group 1 7 8.400 7.400 0 0 0.0 0.0 -11.90 Entegris Inc 142 132 30.450 34.800 4 5 0.2 0.3 14.53 Envestnet Inc 8 8 49.850 57.300 0 0 0.0 0.0 14.94 Eplus Inc 6 7 75.200 77.700 0 1 0.0 0.0 3.32 Everi Hldgs Inc 23 22 7.540 6.570 0 0 0.0 0.0 -12.86 Evertec Inc 1 17 13.650 16.350 0 0 0.0 0.0 19.78 Evolving Sys Inc 1 1 4.700 4.800 0 0 0.0 0.0 2.13 Exlservice Holdings 35 35 60.350 55.770 2 2 0.1 0.1 -7.59 Extreme Networks Inc 93 70 12.520 11.070 1 1 0.1 0.0 -11.58 Fabrinet 43 42 28.700 31.380 1 1 0.1 0.1 9.34 Fair Isaac Corp 3 0 153.200 169.370 0 0 0.0 0.0 10.55 Faro Technologies In 18 18 47.000 58.400 1 1 0.0 0.1 24.26 Finisar Corp 126 124 20.350 15.810 3 2 0.1 0.1 -22.31
85 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Finjan Hldgs Inc 21 29 2.160 3.250 0 0 0.0 0.0 50.46 First Solar Inc 5 0 67.520 70.980 0 0 0.0 0.0 5.12 Fitbit Inc 15 14 5.710 5.100 0 0 0.0 0.0 -10.68 Formfactor Inc 89 87 15.650 13.650 1 1 0.1 0.1 -12.78 Frequency Electrs In 5 5 9.360 8.750 0 0 0.0 0.0 -6.52 Globalscape Inc 9 8 3.550 3.680 0 0 0.0 0.0 4.10 Globant S A 2 2 46.460 51.540 0 0 0.0 0.0 10.93 Glu Mobile Inc 61 78 3.640 3.770 0 0 0.0 0.0 3.57 Grubhub Inc 9 1 71.800 101.470 1 0 0.0 0.0 41.32 Gse Sys Inc 8 7 3.250 3.250 0 0 0.0 0.0 0.00 Gsi Technology 14 17 7.960 7.410 0 0 0.0 0.0 -6.91 Gtt Communications I 50 49 46.950 56.700 2 3 0.1 0.2 20.77 Hackett Group Inc 58 58 15.710 16.060 1 1 0.1 0.1 2.23 Harmonic Lightwaves 159 158 4.200 3.800 1 1 0.0 0.0 -9.52 I D Systems Inc 4 4 6.940 6.220 0 0 0.0 0.0 -10.37 IEC Electrs Corp New 3 3 4.120 4.494 0 0 0.0 0.0 9.07 II VI Inc 61 60 46.950 40.900 3 2 0.2 0.1 -12.89 Ichor Holdings 0 23 24.600 24.210 0 1 0.0 0.0 NA Image Sensing Sys In 3 3 3.000 4.250 0 0 0.0 0.0 41.67 Impinj Inc 0 1 22.530 13.020 0 0 0.0 0.0 NA Infinera Corporation 127 131 6.330 10.860 1 1 0.0 0.1 71.56 Innodata Corp 7 7 1.360 1.080 0 0 0.0 0.0 -20.59
86 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Inphi Corp 12 13 36.600 30.100 0 0 0.0 0.0 -17.76 Inseego Corp 1 1 1.610 1.780 0 0 0.0 0.0 10.56 Insight Enterprises 29 28 38.290 34.930 1 1 0.1 0.1 -8.78 Integrated Device Te 106 112 29.730 30.560 3 3 0.2 0.2 2.79 Intelligent Sys Corp 3 3 4.560 5.110 0 0 0.0 0.0 12.06 Interdigital Inc 35 35 76.150 73.600 3 3 0.2 0.1 -2.92 Internap Corp 15 19 15.710 11.000 0 0 0.0 0.0 -29.98 Intest Corp 9 11 8.650 6.650 0 0 0.0 0.0 -23.12 Intevac Inc 20 21 6.850 6.900 0 0 0.0 0.0 0.73 Intricon Corp 2 2 19.800 20.000 0 0 0.0 0.0 1.01 Iteris Inc 3 2 6.970 4.960 0 0 0.0 0.0 -28.84 Itron Inc 41 40 68.200 71.550 3 3 0.2 0.2 4.91 Ixys Corp 32 0 23.950 NA 1 0 0.0 0.0 NA J2 Global Inc 26 36 75.030 78.920 2 3 0.1 0.2 5.74 Kemet Corp 96 94 15.060 18.130 1 2 0.1 0.1 20.39 Key Tronics Corp 6 6 6.830 6.960 0 0 0.0 0.0 1.90 Kimball Electronics 19 19 18.250 16.150 0 0 0.0 0.0 -11.51 Knowles Corp 46 59 14.660 12.590 1 1 0.0 0.0 -14.12 Kopin Corp 57 56 3.200 3.120 0 0 0.0 0.0 -2.50 Kulicke & Soffa Inds 56 55 24.335 25.010 1 1 0.1 0.1 2.77 Kvh Inds Inc 15 16 10.350 10.350 0 0 0.0 0.0 0.00 Lantronix Inc 1 1 2.020 2.060 0 0 0.0 0.0 1.98
87 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Lattice Semiconducto 121 119 5.780 5.570 1 1 0.0 0.0 -3.63 Leaf Group Ltd 35 34 9.900 7.050 0 0 0.0 0.0 -28.79 Lgl Group Inc 1 1 5.617 5.590 0 0 0.0 0.0 -0.49 Lightpath Technologi 13 13 2.220 2.200 0 0 0.0 0.0 -0.90 Limelight Networks I 138 137 4.410 4.110 1 1 0.0 0.0 -6.80 Liquidity Services I 25 27 4.850 6.500 0 0 0.0 0.0 34.02 Littelfuse Inc 11 6 197.820 208.180 2 1 0.1 0.1 5.42 Lumentum Hldgs Inc 30 38 48.900 63.800 1 2 0.1 0.1 30.47 Luna Innovations 1 2 2.430 3.240 0 0 0.0 0.0 33.33 Luxoft Hldg Inc 13 14 55.700 40.950 1 1 0.0 0.0 -26.48 MTS Sys Corp 15 15 53.700 51.650 1 1 0.0 0.0 -3.28 Ma Com Technology So 2 10 32.540 16.600 0 0 0.0 0.0 -48.99 Magnachip Semiconduc 12 12 9.950 9.600 0 0 0.0 0.0 -3.52 Manhattan Assocs Inc 18 39 49.540 41.880 1 2 0.1 0.1 -15.46 Mantech Intl Corp 22 23 50.190 55.470 1 1 0.1 0.1 11.00 Marchex Inc 34 35 3.230 2.730 0 0 0.0 0.0 -0.49 Maximus Inc 1 0 71.580 66.740 0 0 0.0 0.0 -6.70 Maxlinear Inc 62 65 26.420 22.750 2 1 0.1 0.1 -13.89 Maxwell Technologies 28 28 5.760 5.930 0 0 0.0 0.0 2.95 Meet Group Inc 125 122 2.820 2.090 0 0 0.0 0.0 -25.89 Mesa Labs Inc 4 4 124.300 148.440 0 1 0.0 0.0 19.56 Methode Electrs Inc 40 39 40.100 39.100 2 2 0.1 0.1 -2.23
88 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Microstrategy Inc 9 9 131.300 128.990 1 1 0.1 0.1 -1.76 Mitek System Inc 0 8 8.950 7.400 0 0 0.0 0.0 NA Mks Instrument Inc 55 49 94.500 115.650 5 6 0.3 0.3 22.58 Moduslink Global Sol 35 0 2.490 2.120 0 0 0.0 0.0 -14.86 Moneygram Intl Inc 20 43 13.180 8.620 0 0 0.0 0.0 -34.60 Monolithic Pwr Sys I 3 0 112.360 115.770 0 0 0.0 0.0 3.31 Monotype Imaging Hol 37 36 24.100 22.450 1 1 0.1 0.0 -6.37 Nanometrics Inc 42 42 24.920 26.900 1 1 0.1 0.1 7.95 Napco Sec Sys Inc 25 25 8.750 11.700 0 0 0.0 0.0 33.71 Ncr Corp New 2 7 33.990 31.520 0 0 0.0 0.0 -7.27 Neophotonics Corp 64 62 6.580 6.850 0 0 0.0 0.0 4.10 Netgear Inc 39 38 58.750 57.200 2 2 0.1 0.1 -2.64 Netscout Sys Inc 81 79 30.450 26.350 2 2 0.1 0.1 -13.46 Network-1 Sec Soluti 12 15 2.400 2.650 0 0 0.0 0.0 12.54 Nic Inc 68 68 16.600 13.300 1 1 0.1 0.1 -19.42 Novanta Inc 20 23 50.000 52.150 1 1 0.1 0.1 4.30 Nve Corp 3 4 86.000 83.110 0 0 0.0 0.0 -2.23 Oclaro Inc 77 76 6.740 9.560 1 1 0.0 0.0 41.84 Optical Cable Corp 3 3 2.450 2.900 0 0 0.0 0.0 18.37 Osi Systems Inc 23 22 64.380 65.270 1 1 0.1 0.1 1.38 P C Connection 7 7 26.210 25.000 0 0 0.0 0.0 -4.62 Par Technology Corp 9 12 9.350 14.090 0 0 0.0 0.0 50.70
89 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Park Electrochemical 24 25 19.650 16.840 0 0 0.0 0.0 -0.65 Paycom Software Inc 33 24 80.330 107.390 3 3 0.1 0.1 33.69 Paylocity Hldg Corp 1 6 47.160 51.230 0 0 0.0 0.0 8.63 Pc Mall Inc 12 12 9.900 8.300 0 0 0.0 0.0 -16.16 Pc-Tel Inc 7 7 7.370 7.180 0 0 0.0 0.0 -1.80 Pdf Solutions Inc 42 41 15.700 11.660 1 0 0.0 0.0 -25.73 Pegasystems Inc 71 43 47.150 60.650 3 3 0.2 0.1 28.70 Perceptron Inc 10 10 9.750 8.550 0 0 0.0 0.0 -12.31 Perficient Inc 39 38 19.070 22.920 1 1 0.0 0.0 20.19 Pfsweb Inc 23 22 7.430 8.740 0 0 0.0 0.0 17.63 Photronic Labs Inc 51 53 8.525 8.250 0 0 0.0 0.0 -3.23 Pixelworks Inc 14 22 6.330 3.870 0 0 0.0 0.0 -38.86 Plantronics Inc New 34 34 50.380 60.370 2 2 0.1 0.1 20.15 Plexus Corp 38 38 60.720 59.730 2 2 0.1 0.1 -1.63 Power Integrations I 29 29 73.550 68.350 2 2 0.1 0.1 -6.85 Prg-Schultz Internat 18 18 7.100 9.450 0 0 0.0 0.0 33.10 Professional Diversi 1 1 4.110 2.810 0 0 0.0 0.0 -31.63 Progress Software Co 53 52 42.570 38.450 2 2 0.1 0.1 -9.41 Qad Inc 13 13 38.850 41.650 1 1 0.0 0.0 7.21 Qad Inc 2 2 30.490 31.310 0 0 0.0 0.0 2.69 Qualys Inc 20 19 59.350 72.750 1 1 0.1 0.1 22.58 Quantum Corp 14 4 5.630 3.640 0 0 0.0 0.0 -35.35
90 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Quinstreet Inc 30 39 8.380 12.770 0 0 0.0 0.0 52.39 Qumu Corp 4 4 2.290 1.760 0 0 0.0 0.0 -23.14 RF Inds Ltd 4 3 2.700 4.600 0 0 0.0 0.0 71.14 Rambus Inc Del 115 113 14.220 13.430 2 2 0.1 0.1 -5.56 Realnetworks Inc 31 33 3.420 3.060 0 0 0.0 0.0 -10.53 Realpage Inc 29 32 44.300 51.500 1 2 0.1 0.1 16.25 Reis Inc 13 14 20.650 21.450 0 0 0.0 0.0 4.88 Relm Wireless Corp 3 3 3.550 3.950 0 0 0.0 0.0 11.83 Ribbon Communication 51 50 7.730 5.100 0 0 0.0 0.0 -34.02 Richardson Electrs 8 8 6.740 7.950 0 0 0.0 0.0 18.86 Rogers Corp 19 20 161.920 119.540 3 2 0.2 0.1 -26.17 Rosetta Stone Inc 9 15 12.470 13.150 0 0 0.0 0.0 5.45 Rubicon Proj Inc 32 32 1.870 1.800 0 0 0.0 0.0 -3.74 Rudolph Technologies 39 38 23.900 27.700 1 1 0.1 0.1 15.90 Sanmina Corporation 79 78 33.000 26.150 3 2 0.1 0.1 -20.76 Sapiens Intl Corp N 1 1 11.520 8.530 0 0 0.0 0.0 -25.95 Scansource Inc 23 23 35.800 35.550 1 1 0.0 0.0 -0.70 Science Applicatns I 42 41 76.570 78.800 3 3 0.2 0.2 3.32 Seachange Intl Inc 45 59 3.930 2.710 0 0 0.0 0.0 -31.04 Semtech Corp 70 68 34.200 39.050 2 3 0.1 0.2 14.18 Servicesource Intl I 28 29 3.090 3.810 0 0 0.0 0.0 23.30 Shutterstock Inc 11 18 43.030 48.150 0 1 0.0 0.0 11.90
91 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Sigma Designs Inc 41 40 6.950 6.200 0 0 0.0 0.0 -10.79 Silicon Laboratories 44 43 88.300 89.900 4 4 0.2 0.2 1.81 Silver Spring Networ 16 0 16.240 NA 0 0 0.0 0.0 NA Smtc Corp 1 1 1.900 2.260 0 0 0.0 0.0 18.95 Solaredge Technologi 6 19 37.550 52.600 0 1 0.0 0.1 40.08 Sphere 3d Corp New 1 0 2.460 0.997 0 0 0.0 0.0 -59.47 Stamps Com Inc 13 14 188.000 201.050 2 3 0.1 0.2 6.94 Startek Inc 19 27 9.970 9.780 0 0 0.0 0.0 -1.91 Steel Connect Inc 0 43 2.490 2.120 0 0 0.0 0.0 NA Stratasys Ltd 16 17 19.960 20.180 0 0 0.0 0.0 1.10 Sunpower Corp 27 10 8.430 7.980 0 0 0.0 0.0 -5.34 Super Micro Computer 52 51 20.925 17.000 1 1 0.1 0.0 -18.76 Sykes Enterprises In 45 44 31.450 28.940 1 1 0.1 0.1 -7.98 Synaptics Inc 31 31 39.940 45.730 1 1 0.1 0.1 14.50 Synchronoss Technolo 33 33 8.940 10.550 0 0 0.0 0.0 18.01 Synnex Corp 3 1 135.950 118.400 0 0 0.0 0.0 -12.68 Syntel Inc 34 40 22.990 25.530 1 1 0.0 0.1 11.05 Systemax Inc 15 17 33.270 28.550 0 0 0.0 0.0 -9.84 Tech Data Corp 34 37 97.970 85.130 3 3 0.2 0.2 -13.11 Techtarget Inc 16 23 13.920 19.880 0 0 0.0 0.0 42.82 Telaria Inc 5 13 4.030 3.760 0 0 0.0 0.0 -6.70 Telenav Inc 36 40 5.500 5.400 0 0 0.0 0.0 -1.82
92 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Teletech Holdings In 46 0 40.250 30.700 2 0 0.1 0.0 -23.06 Tessco Technologies 6 6 20.150 23.150 0 0 0.0 0.0 15.96 The Trade Desk Inc 0 6 45.730 49.620 0 0 0.0 0.0 NA Tivo Corp 141 138 15.600 13.550 2 2 0.1 0.1 -12.07 Transact Technologie 5 7 13.250 13.050 0 0 0.0 0.0 -0.89 Travelport Worldwide 127 126 13.070 16.340 2 2 0.1 0.1 25.68 Travelzoo Inc 9 9 6.450 7.250 0 0 0.0 0.0 12.40 Ttec Hldgs Inc 0 45 40.250 30.700 0 1 0.0 0.1 NA Ttm Technologies In 94 94 15.670 15.290 1 1 0.1 0.1 -2.43 Ubiquiti Networks In 27 17 71.020 68.800 2 1 0.1 0.1 -3.13 Ultra Clean Hldgs In 49 49 23.090 19.250 1 1 0.1 0.1 -16.63 Unisys Corp 33 32 8.150 10.750 0 0 0.0 0.0 31.90 Vasco Data Sec Intl 29 33 13.900 12.950 0 0 0.0 0.0 -6.83 Veeco Instrs Inc Del 65 64 14.850 17.000 1 1 0.1 0.1 14.48 Verifone Hldgs Inc 70 81 17.710 15.380 1 1 0.1 0.1 -13.16 Verint Sys Inc 49 49 41.850 42.600 2 2 0.1 0.1 1.79 Versum Matls Inc 42 33 37.850 37.630 2 1 0.1 0.1 -0.44 Viad Corp 16 16 55.400 52.450 1 1 0.0 0.0 -5.15 Viasat Inc 21 16 74.850 65.720 2 1 0.1 0.1 -12.20 Viavi Solutions Inc 129 127 8.740 9.720 1 1 0.1 0.1 11.21 Virtusa Corp 41 40 44.080 48.460 2 2 0.1 0.1 9.94 Vishay Intertechnolo 112 110 20.750 18.600 2 2 0.1 0.1 -10.05
93 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Vishay Precision Gro 9 9 25.150 31.150 0 0 0.0 0.0 23.86 Wayside Technology G 2 2 16.700 13.000 0 0 0.0 0.0 -21.23 Web Com Group Inc 50 49 21.800 18.100 1 1 0.1 0.1 -16.97 Wireless Telecom Gro 6 6 2.430 2.440 0 0 0.0 0.0 0.41 Xcerra Corp 40 43 9.790 11.650 0 1 0.0 0.0 19.00 Xo Group Inc 34 34 18.460 20.750 1 1 0.0 0.0 12.41 Xperi Corp 51 50 24.400 21.150 1 1 0.1 0.1 -12.53 Yume Inc 8 0 4.780 NA 0 0 0.0 0.0 NA Zedge Inc 3 3 2.749 3.200 0 0 0.0 0.0 16.39 Zix Corp 94 93 4.380 4.270 0 0 0.0 0.0 -2.51 Zynga Inc 1,054 1,032 4.000 3.660 4 4 0.2 0.2 -8.50 246 242 14.1 13.9 1.23 Telecom Services Alaska Communication 16 22 2.680 1.800 0 0 0.0 0.0 -32.84 Atn Intl Inc 13 13 55.260 59.620 1 1 0.0 0.0 8.20 Boingo Wireless Inc 81 80 22.500 24.770 2 2 0.1 0.1 10.09 Cincinnati Bell Inc 54 53 20.850 13.850 1 1 0.1 0.0 -33.57 Cogent Comm Group In 65 63 45.300 43.400 3 3 0.2 0.2 -3.09 Consolidated Comm Hl 54 53 12.190 10.960 1 1 0.0 0.0 -7.29 Frontier Communicati 5 5 6.760 7.420 0 0 0.0 0.0 9.76 Fusion Telecomm Intl 1 6 3.750 3.230 0 0 0.0 0.0 -13.87 General Communicatio 42 0 39.020 36.280 2 0 0.1 0.0 -7.02
94 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Telecom Services (cont.) Hawaiian Telcom Hold 2 2 30.860 26.680 0 0 0.0 0.0 -13.55 Idt Corp 43 43 10.600 6.270 0 0 0.0 0.0 -18.51 Intelsat S A 14 13 3.390 3.760 0 0 0.0 0.0 10.91 Iridium Communicatio 20 19 11.800 11.250 0 0 0.0 0.0 -4.66 Orbcomm Inc 104 102 10.180 9.370 1 1 0.1 0.1 -7.96 Shenandoah Telecommu 54 53 33.800 36.000 2 2 0.1 0.1 6.51 Spok Hldgs Inc 20 20 15.650 14.950 0 0 0.0 0.0 -3.62 Straight Path Commun 3 0 181.790 NA 1 0 0.0 0.0 NA Telephone & Data Sys 108 106 27.800 28.030 3 3 0.2 0.2 1.40 United States Cellul 10 11 37.630 40.190 0 0 0.0 0.0 6.80 Vonage Hldgs Corp 199 213 10.170 10.650 2 2 0.1 0.1 4.72 Windstream Hldgs Inc 79 77 1.850 1.410 0 0 0.0 0.0 -23.78 19 16 1.1 0.9 -1.88 Utilities Allete Inc 45 46 74.360 72.250 3 3 0.2 0.2 -2.04 American Sts Wtr Co 38 38 57.910 53.060 2 2 0.1 0.1 -7.93 Artesian Res Corp 8 8 38.560 36.480 0 0 0.0 0.0 -4.73 Atlantic Pwr Corp 26 25 2.350 2.100 0 0 0.0 0.0 -10.64 Atlantica Yield Plc 9 25 21.210 19.580 0 0 0.0 0.0 -6.23 Avista Corp 66 64 51.490 51.250 3 3 0.2 0.2 0.29 Black Hills Pwr & Lt 44 43 60.110 54.300 3 2 0.1 0.1 -8.84 California Wtr Svc G 49 48 45.350 37.250 2 2 0.1 0.1 -17.45
95 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Utilities (cont.) Chesapeake Utils Cor 15 15 78.550 70.350 1 1 0.1 0.1 -10.03 Conn Wtr Svc Inc 16 16 57.410 60.530 1 1 0.1 0.1 6.04 Consolidated Water C 5 5 12.600 14.550 0 0 0.0 0.0 16.93 Dynegy Inc New Del 113 111 11.850 13.520 1 2 0.1 0.1 14.09 El Paso Elec Co 42 41 55.350 51.000 2 2 0.1 0.1 -7.23 Genie Energy Ltd 21 24 4.360 4.990 0 0 0.0 0.0 16.20 Hawaiian Elec Indust 28 55 36.150 34.380 1 2 0.1 0.1 -4.01 Idacorp Inc 6 7 91.360 88.270 1 1 0.0 0.0 -2.70 Mge Energy Inc 35 35 63.100 56.100 2 2 0.1 0.1 -10.55 Middlesex Water Co 21 21 39.910 36.700 1 1 0.0 0.0 -7.48 New Jersey Res 69 71 40.200 40.100 3 3 0.2 0.2 0.44 Northwest Nat Gas Co 29 29 59.650 57.650 2 2 0.1 0.1 -2.55 Northwestern Corp 47 46 59.700 53.800 3 2 0.2 0.1 -8.91 Nrg Yield Inc 61 59 18.900 17.000 1 1 0.1 0.1 -8.34 Nrg Yield Inc 34 33 18.850 16.440 1 1 0.0 0.0 -11.10 One Gas Inc 34 37 73.260 66.020 2 2 0.1 0.1 -9.25 Ormat Technologies I 48 47 63.960 56.380 3 3 0.2 0.2 -11.48 Otter Tail Corp 38 38 44.450 43.350 2 2 0.1 0.1 -1.67 Pattern Energy Group 82 80 21.490 17.290 2 1 0.1 0.1 -17.60 Pnm Res Inc 77 76 40.450 38.250 3 3 0.2 0.2 -4.75 Portland Gen Elec Co 19 33 45.580 40.510 1 1 0.0 0.1 -10.35 Rgc Res Inc 1 2 27.080 25.400 0 0 0.0 0.0 -5.65
96 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Utilities (cont.) SJW Corp 21 20 63.830 52.710 1 1 0.1 0.1 -16.98 South Jersey Inds In 80 78 31.230 28.160 2 2 0.1 0.1 -8.93 Southwest Gas Corp 27 28 80.480 67.630 2 2 0.1 0.1 -15.35 Spark Energy Inc 10 10 12.400 11.850 0 0 0.0 0.0 -2.52 Spire Inc 47 46 75.150 72.300 4 3 0.2 0.2 -2.99 Unitil Corp 20 20 45.620 46.410 1 1 0.1 0.1 2.59 Wgl Hldgs Inc 44 43 85.840 83.650 4 4 0.2 0.2 -1.97 York Wtr Co 14 14 33.900 31.000 0 0 0.0 0.0 -8.02 62 59 3.5 3.4 -6.22 Real Estate Alexander & Baldwin 57 67 27.740 23.130 2 2 0.1 0.1 -16.62 Altisource Asset Mgm 1 1 81.600 65.500 0 0 0.0 0.0 -19.73 Altisource Portfolio 12 12 28.000 26.560 0 0 0.0 0.0 -5.14 Ckx Lands Inc 1 1 10.180 10.350 0 0 0.0 0.0 1.67 Consolidated Tomoka 3 3 63.500 62.850 0 0 0.0 0.0 -0.93 Forestar Group Inc 4 4 22.000 21.150 0 0 0.0 0.0 -3.86 Frp Hldgs Inc 9 9 44.250 56.000 0 1 0.0 0.0 26.55 Griffin Ld & Nurseri 2 2 36.700 37.530 0 0 0.0 0.0 2.26 Hff Inc 42 41 48.640 49.700 2 2 0.1 0.1 6.30 Kennedy-Wilson Hldgs 116 132 17.350 17.400 2 2 0.1 0.1 1.38 Marcus & Millichap I 24 27 32.610 36.060 1 1 0.0 0.1 10.58 Maui Ld & Pineapple 6 9 17.300 11.650 0 0 0.0 0.0 -32.66
97 Chatham University Equity Holdings DFA Small Cap Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Real Estate (cont.) Potlatch Corp New 0 12 49.900 52.050 0 1 0.0 0.0 NA Rafael Hldgs Inc 0 21 NA 4.850 0 0 0.0 0.0 NA Re Max Hldgs Inc 15 16 48.500 60.450 1 1 0.0 0.1 25.08 Realogy Hldgs Corp 47 92 26.500 27.280 1 3 0.1 0.1 3.30 Rmr Group Inc 4 5 59.300 69.950 0 0 0.0 0.0 18.41 St Joe Corp 21 23 18.050 18.850 0 0 0.0 0.0 4.43 Stratus Pptys Inc 4 4 29.700 30.200 0 0 0.0 0.0 1.68 Tejon Ranch Co 24 27 20.760 23.110 0 1 0.0 0.0 11.32 Trinity Pl Hldgs Inc 3 3 6.950 6.500 0 0 0.0 0.0 -6.47 11 14 0.6 0.8 3.23
98 Chatham University Custom Benchmark Specification DFA Small Cap Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Russell 2000 6/09 3/18 100.00 Russell 2000
99 Chatham University Growth of One Dollar DFA US Sustainability Core Quarter Ended 3/31/18
2.20 2.10 2.00 1.90 1.80 1.70 1.60 1.50 Value 1.40 1.30 1.20 1.10 1.00 0.90 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 9/30/12 Value Total 10.13 14.28 2.08 Russell 3000 10.22 13.99 2.05
1 Chatham University Value Added Analysis DFA US Sustainability Core Quarter Ended 3/31/18
2.0%
1.5%
1.17 1.0% 1.01 0.89
0.53 0.57 0.56 0.5% 0.44 0.26 0.24 0.18 0.14 0.0%
-0.13 -0.07 -0.5% -0.25 -0.25
-0.64 -1.0% -0.79
-1.14 -1.5% -1.33
-1.63 -2.0%
-2.5%
-3.0%
-3.5% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. Russell 3000 Cumulative Value Added 2 Yr Rolling Avg (Annualized)
2 Chatham University Equity Structural Characteristics DFA US Sustainability Core Quarter Ended 3/31/18
# % % % Sectors Turn- Quarter $(000) Stocks Equity Cash Other ENR MAT IND CDI CST HTH FIN INF TEL UTL RES Over 03/31/13 3,495 2,286 100 0 0 11 5 13 14 8 12 16 16 3 3 0 NA 06/30/13 3,607 2,304 100 0 0 11 4 13 14 8 12 17 16 3 3 0 NA 09/30/13 3,868 2,316 100 0 0 11 4 13 15 7 12 16 17 2 3 0 NA 12/31/13 4,269 2,310 100 0 0 10 5 13 15 7 12 17 17 2 3 0 NA 03/31/14 4,348 2,306 100 0 0 10 5 13 14 7 12 16 17 2 3 0 NA 06/30/14 4,557 2,328 100 0 0 11 5 13 15 7 12 14 18 2 3 0 NA 09/30/14 4,506 2,323 100 0 0 10 5 13 15 7 12 14 18 3 3 0 NA 12/31/14 4,713 2,352 100 0 0 8 5 13 15 8 12 15 19 3 3 0 NA 03/31/15 4,809 2,367 100 0 0 7 5 14 16 8 12 15 18 3 3 0 NA 06/30/15 4,424 2,420 100 0 0 7 5 13 16 7 13 15 18 2 3 0 NA 09/30/15 4,068 2,422 100 0 0 7 4 14 17 8 12 16 17 3 3 0 NA 12/31/15 4,270 2,366 100 0 0 6 4 13 16 8 12 15 20 3 3 0 NA 03/31/16 4,335 2,133 100 0 0 3 3 13 19 8 13 15 22 3 1 0 NA 06/30/16 3,871 1,871 100 0 0 2 4 13 18 8 14 16 20 3 2 0 NA 09/30/16 4,080 1,860 100 0 0 2 4 13 17 7 13 17 22 3 1 0 NA 12/31/16 4,300 1,928 100 0 0 3 3 13 17 7 13 18 20 3 1 0 NA 03/31/17 4,536 2,138 100 0 0 3 3 13 17 7 13 18 22 3 1 0 NA 06/30/17 4,661 2,169 100 0 0 2 4 13 17 7 14 18 21 3 1 0 NA 09/30/17 4,881 2,143 100 0 0 2 3 13 17 7 14 18 22 3 1 0 NA 12/31/17 5,218 2,113 100 0 0 2 4 14 17 6 13 18 22 2 1 0 NA 03/31/18 5,207 2,113 100 0 0 2 3 14 18 6 13 17 23 2 1 0 NA
Russell 3000 27,032,465 2,956 100 0 0 5 3 11 13 7 13 15 24 2 3 4 NA ENR - Energy CST - Consumer Staples TEL - Telecommunication Services MAT- Materials HTH- Health Care UTL - Utilities IND - Industrials FIN - Financials RES - Real Estate CDI - Consumer Discretionary INF - Information Technology Characteristics represent 100% of portfolio's market value. 3 Chatham University Equity Investment Characteristics DFA US Sustainability Core Quarter Ended 3/31/18
Growth Average $ Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Market Cap(Mil) P/E P/B YLD ROE Beta Debt/Eqt R Square 03/31/13 6.1 4.7 64,432 20.5 2.0 1.7 14.2 1.15 0.51 0.96 06/30/13 6.0 4.7 63,774 21.0 2.1 1.7 14.0 1.15 0.51 0.95 09/30/13 6.3 5.4 63,019 21.1 1.8 1.7 13.7 1.15 0.50 0.95 12/31/13 6.6 5.4 70,810 21.6 1.9 1.6 13.8 1.16 0.49 0.94 03/31/14 10.5 6.7 69,259 21.0 2.4 1.6 15.4 1.15 0.52 0.94 06/30/14 11.3 7.0 75,764 21.5 2.5 1.6 16.3 1.11 0.52 0.96 09/30/14 11.1 6.4 79,837 20.5 2.3 1.7 16.7 1.10 0.53 0.96 12/31/14 10.3 7.4 79,894 20.5 2.3 1.7 16.8 1.09 0.54 0.97 03/31/15 10.2 7.4 78,891 21.4 2.3 1.7 17.1 1.10 0.56 0.97 06/30/15 10.0 7.3 78,942 22.5 2.3 1.7 16.8 1.10 0.56 0.97 09/30/15 9.4 7.1 70,890 20.1 2.1 1.9 16.9 1.09 0.58 0.96 12/31/15 7.7 7.5 85,371 21.0 2.2 1.9 18.1 1.08 0.59 0.96 03/31/16 8.9 7.8 95,281 20.2 2.6 1.8 19.6 1.09 0.57 0.96 06/30/16 8.5 8.0 93,767 20.4 2.7 1.8 19.6 1.08 0.57 0.96 09/30/16 8.7 8.0 102,858 21.6 2.4 1.7 19.2 1.08 0.57 0.95 12/31/16 8.0 7.6 101,325 22.7 2.5 1.7 18.3 1.08 0.58 0.92 03/31/17 7.0 7.5 115,313 23.9 2.5 1.6 18.0 1.08 0.63 0.92 06/30/17 7.2 7.4 116,642 23.6 2.5 1.6 17.9 1.09 0.63 0.90 09/30/17 7.6 7.4 121,022 24.1 2.7 1.6 18.5 1.09 0.65 0.90 12/31/17 7.4 6.9 143,409 25.3 2.8 1.5 18.1 1.09 0.64 0.90 03/31/18 7.5 6.6 140,248 24.3 2.7 1.6 18.0 1.07 0.67 0.91
Russell 3000 8.2 7.2 160,950 26.3 2.7 1.9 16.6 1.00 0.94 0.97
Characteristics represent 100% of portfolio's market value. 4 Chatham University Equity Return Analysis DFA US Sustainability Core Quarter Ended 3/31/18
Net Management Effect Total Equity Sector Stock Quarter Index* Return Return Timing Weighting Selection Trading Total 12/12 0.25 1.32 1.32 0.00 NA NA NA 1.06
03/13 11.07 11.89 11.89 -0.00 NA NA NA 0.82 06/13 2.69 3.22 3.22 -0.00 -0.03 0.56 0.00 0.53 09/13 6.35 7.24 7.24 0.00 0.16 0.77 -0.05 0.89 12/13 10.11 10.37 10.37 -0.00 0.03 0.34 -0.10 0.26 2013 33.56 36.69 36.69 0.00 NA NA NA 3.13 03/14 1.97 1.84 1.84 0.00 -0.09 0.13 -0.17 -0.13 06/14 4.87 4.80 4.80 0.00 0.08 0.01 -0.16 -0.07 09/14 0.01 -1.13 -1.13 -0.00 -0.30 -0.84 0.01 -1.14 12/14 5.24 4.60 4.60 0.00 -0.46 -0.12 -0.06 -0.64 2014 12.55 10.39 10.39 0.00 -0.84 -0.92 -0.40 -2.16 03/15 1.80 2.04 2.04 -0.00 -0.01 0.28 -0.03 0.24 06/15 0.14 0.32 0.32 0.00 -0.13 0.34 -0.02 0.18 09/15 -7.25 -8.04 -8.04 -0.00 -0.06 -0.58 -0.16 -0.79 12/15 6.27 4.94 4.94 -0.00 -0.12 -1.30 0.10 -1.33 2015 0.48 -1.21 -1.21 -0.00 -0.31 -1.25 -0.12 -1.69 03/16 0.97 1.54 1.54 -0.00 0.53 -0.03 0.07 0.57 06/16 2.63 1.00 0.93 0.07 -0.72 -0.93 -0.04 -1.63 09/16 4.40 5.40 5.40 -0.00 0.37 0.55 0.08 1.01 12/16 4.21 5.38 5.38 -0.00 0.15 1.16 -0.13 1.17 2016 12.74 13.91 13.84 0.08 0.35 0.78 -0.03 1.18 03/17 5.74 5.50 5.50 -0.00 0.53 -0.70 -0.08 -0.25 06/17 3.02 2.77 2.77 -0.00 0.40 -0.54 -0.11 -0.25 Index* : Russell 3000 5 Chatham University Equity Return Analysis DFA US Sustainability Core Quarter Ended 3/31/18
Net Management Effect Total Equity Sector Stock Quarter Index* Return Return Timing Weighting Selection Trading Total 09/17 4.57 4.71 4.71 0.00 0.05 0.18 -0.09 0.14 12/17 6.34 6.90 6.90 -0.00 0.40 0.31 -0.14 0.56 2017 21.13 21.35 21.35 0.00 1.59 -0.87 -0.50 0.22 03/18 -0.64 -0.21 -0.21 -0.00 0.50 -0.06 -0.00 0.44
From Inception 13.99 14.28 14.26 0.01 0.29 From 03/13 To Present 13.03 12.94 12.93 0.02 0.27 -0.13 -0.24 -0.09 Avg Up Markets 4.13 4.23 4.23 0.00 0.10 Avg Down Markets -3.95 -4.12 -4.12 -0.00 -0.17 Index* : Russell 3000 6 Chatham University Equity Sector Attribution Analysis DFA US Sustainability Core Quarter Ended 3/31/18
Portfolio Russell 3000 Selection Sector Mkt Val % Return Mkt Val % Return Stock Sector Total Real Estate 0.39 8.26 3.85 -6.17 0.06 0.19 0.25 Energy 2.47 -4.78 5.77 -6.09 0.03 0.18 0.21 Consumer Staples 6.36 -5.24 7.33 -6.76 0.10 0.06 0.16 Financials 17.74 0.14 15.13 -0.45 0.11 0.00 0.11 Materials 3.52 -5.03 3.46 -5.26 0.01 -0.00 0.01 Utilities 1.14 -7.52 2.98 -3.38 -0.05 0.05 0.00 Consumer Discretionary 17.43 1.14 12.50 1.97 -0.15 0.13 -0.02 Telecom Services 2.49 -7.04 1.90 -7.31 0.01 -0.04 -0.03 Health Care 13.04 -0.82 13.31 -0.31 -0.07 -0.00 -0.07 Industrials 13.52 -2.19 10.95 -1.78 -0.06 -0.03 -0.09 Information Technology 21.91 3.81 22.82 4.02 -0.05 -0.04 -0.09 Quarter Total 100.00 -0.20 100.00 -0.64 -0.06 0.50 0.44
Stock Selection Return Attribution = [ Portfolio Market Value Sector Percent ] x [ Portfolio Sector Return - Index Sector Return]
Sector Selection Return Attribution = [ Portfolio Sector Percent - Index Sector Percent ] x [ Index Sector Return - Index Total Return ]
Trading Effect -0.00% = [ Actual Return -0.21% ] - [ Buy Hold Return -0.20% ]
7 Chatham University Equity Summary Statistics DFA US Sustainability Core Quarter Ended 3/31/18
10 Largest Holdings 10 Best Performers Name %Port $(000) Name %Port %Return Apple Inc 3.9 205 Pfenex Inc 0.0 125.56 Amazon Com Inc 3.1 161 Cambium Learning Grp 0.0 97.18 Microsoft Corp 2.0 104 Arrowhead Pharmaceut 0.0 95.92 J P Morgan Chase & C 1.4 71 Virtu Finl Inc 0.0 81.79 Johnson & Johnson 1.2 63 Infinera Corporation 0.0 71.56 Unitedhealth Group I 1.1 57 Mirati Therapeutics 0.0 68.22 Facebook Inc 1.1 56 Nuvectra Corp 0.0 67.78 Verizon Communicatio 1.0 52 Wmi Hldgs Corp 0.0 67.24 Comcast Corp New 0.9 49 Adverum Biotechnolog 0.0 65.71 Visa Inc 0.9 47 Fossil Group Inc 0.0 63.45
Portfolio Characteristic Distribution (%) 10 Worst Performers Quartile Mkt. Cap P/E Yield Name %Port %Return 1st 78.9 27.7 28.9 Ascent Media Corp 0.0 -67.97 2nd 15.2 36.8 43.2 Roadrunner Trnsn Svc 0.0 -67.06 3rd 4.8 35.2 27.9 Autoweb Inc 0.0 -66.93 4th 1.1 0.4 0.0 Lipocine Inc New 0.0 -55.52 Russell 3000 Tetraphase Pharmaceu 0.0 -51.27 Atlas Financial Hold 0.0 -49.63 25th Percentile 5,602,835 30.8 2.1 Ftd Cos Inc 0.0 -49.37 50th Percentile 1,726,358 18.7 0.4 Nutri Sys Inc New 0.0 -48.37 75th Percentile 585,186 5.1 0.0 Gulf Island Fabricat 0.0 -47.11 Hovnanian Enterprise 0.0 -45.37
8 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy Andeavor 89 63 114.340 100.560 10 6 0.2 0.1 -11.50 Archrock Inc 77 72 10.500 8.750 1 1 0.0 0.0 -15.60 Ardmore Shipping Cor 7 6 8.000 7.600 0 0 0.0 0.0 -5.00 Baker Hughes A Ge Co 98 74 31.640 27.770 3 2 0.1 0.0 -11.72 Basic Energy Svcs In 0 23 23.470 14.440 0 0 0.0 0.0 NA Bristow Group Inc 23 22 13.470 13.000 0 0 0.0 0.0 -3.49 Centennial Resource 36 56 19.800 18.350 1 1 0.0 0.0 -7.32 Cheniere Energy Inc 52 53 53.840 53.450 3 3 0.1 0.1 -0.72 Cheniere Energy Ptnr 8 19 27.690 27.610 0 1 0.0 0.0 1.51 Clean Energy Fuels C 41 39 2.030 1.650 0 0 0.0 0.0 -18.72 Contango Oil & Gas C 4 3 4.710 3.550 0 0 0.0 0.0 -24.63 Core Laboratories N 33 31 109.550 108.220 4 3 0.1 0.1 -0.76 Cvr Energy Inc 0 21 37.240 30.220 0 1 0.0 0.0 NA Dawson Geophysical C 10 10 4.970 6.740 0 0 0.0 0.0 35.61 Delek US Hldgs Inc N 72 80 34.940 40.700 3 3 0.0 0.1 17.11 Dht Holdings Inc 7 7 3.590 3.400 0 0 0.0 0.0 -4.80 Diamond Offshore Dri 51 48 18.590 14.660 1 1 0.0 0.0 -21.14 Diamondback Energy I 10 9 126.250 126.520 1 1 0.0 0.0 0.21 Dorian Lpg Ltd 7 7 8.220 7.490 0 0 0.0 0.0 -8.88 Dril-Quip Inc 33 40 47.700 44.800 2 2 0.0 0.0 -6.08 Enlink Midstream Llc 96 91 17.600 14.650 2 1 0.0 0.0 -15.58 Ensco Plc 226 213 5.910 4.390 1 1 0.0 0.0 -25.55
9 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy (cont.) Era Group Inc 8 8 10.750 9.350 0 0 0.0 0.0 -13.02 Evolution Petroleum 9 9 6.850 8.050 0 0 0.0 0.0 18.97 Exterran Corp 32 30 31.440 26.700 1 1 0.0 0.0 -15.08 Forum Energy Technol 66 80 15.550 11.000 1 1 0.0 0.0 -29.26 Franks Intl N V 45 42 6.650 5.430 0 0 0.0 0.0 -18.35 Geospace Technologie 2 2 12.970 9.870 0 0 0.0 0.0 -23.90 Green Plains Renewab 22 20 16.850 16.800 0 0 0.0 0.0 0.34 Gulf Island Fabricat 5 5 13.425 7.100 0 0 0.0 0.0 -47.11 Helix Energy Solutio 142 134 7.540 5.790 1 1 0.0 0.0 -23.21 Helmerich & Payne In 55 52 64.640 66.560 4 3 0.1 0.1 4.10 Hollyfrontier Corp 104 98 51.220 48.860 5 5 0.1 0.1 -3.90 Independence Contrac 3 3 3.980 3.780 0 0 0.0 0.0 -5.03 Marathon Pete Corp 117 160 65.980 73.110 8 12 0.1 0.2 11.58 Matrix Svc Co 32 30 17.800 13.700 1 0 0.0 0.0 -23.03 McDermott Intl 242 292 6.580 6.090 2 2 0.0 0.0 -7.45 Nabors Industries Lt 149 199 6.830 6.990 1 1 0.0 0.0 3.19 National-Oilwell Inc 126 119 36.020 36.810 5 4 0.1 0.1 2.33 Natural Gas Services 10 9 26.200 23.850 0 0 0.0 0.0 -8.97 Newpark Res Inc 56 53 8.600 8.100 0 0 0.0 0.0 -5.81 Noble Corp Plc 125 118 4.520 3.710 1 0 0.0 0.0 -17.92 Oceaneering Intl Inc 83 79 21.140 18.540 2 1 0.0 0.0 -12.30 Oil Sts Intl Inc 31 43 28.300 26.200 1 1 0.0 0.0 -7.42
10 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy (cont.) Oneok Inc New 145 108 53.450 56.920 8 6 0.1 0.1 7.86 Overseas Shipholding 34 32 2.740 2.840 0 0 0.0 0.0 3.65 Pacific Ethanol Inc 11 10 4.550 3.000 0 0 0.0 0.0 -34.07 Panhandle Royalty Co 7 7 20.550 19.300 0 0 0.0 0.0 -5.88 Par Pete Corp 9 9 19.280 17.170 0 0 0.0 0.0 -10.94 Parker Drilling Co 54 51 1.000 0.635 0 0 0.0 0.0 -36.50 Patterson Uti Energy 104 110 23.010 17.510 2 2 0.0 0.0 -23.82 Pbf Energy Inc 87 82 35.450 33.900 3 3 0.1 0.1 -3.43 Phillips 66 77 72 101.150 95.920 8 7 0.1 0.1 -4.45 Pioneer Energy Svcs 26 25 3.050 2.700 0 0 0.0 0.0 -11.48 RPC Energy Svcs Inc 134 142 25.530 18.030 3 3 0.1 0.0 -29.00 Renewable Energy Gro 27 25 11.800 12.800 0 0 0.0 0.0 8.47 Rex American Resourc 4 3 82.790 72.800 0 0 0.0 0.0 -12.07 Rignet Inc 8 7 14.950 13.600 0 0 0.0 0.0 -9.03 Ring Energy Inc 9 9 13.900 14.350 0 0 0.0 0.0 3.24 Rowan Companies Plc 72 93 15.660 11.540 1 1 0.0 0.0 -26.31 Schlumberger Ltd 245 252 67.390 64.780 17 16 0.3 0.3 -3.20 Scorpio Tankers Inc 95 89 3.050 1.960 0 0 0.0 0.0 -35.45 Seacor Hldgs Inc 12 11 46.220 51.100 1 1 0.0 0.0 10.56 Seacor Marine Hldgs 12 11 11.700 19.020 0 0 0.0 0.0 62.56 Semgroup Corp 36 47 30.200 21.400 1 1 0.0 0.0 -27.57 Ship Finance Interna 11 10 15.500 14.300 0 0 0.0 0.0 -5.50
11 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Energy (cont.) Superior Energy Svcs 97 114 9.630 8.430 1 1 0.0 0.0 -12.46 Targa Res Corp 31 23 48.420 44.000 2 1 0.0 0.0 -7.41 Technipfmc Ltd 122 115 31.310 29.450 4 3 0.1 0.1 -5.52 Teekay Tankers Ltd 33 31 1.400 1.190 0 0 0.0 0.0 -12.87 Tetra Technologies I 45 72 4.270 3.750 0 0 0.0 0.0 -12.18 Transocean Ltd Zug 215 244 10.680 9.900 2 2 0.0 0.0 -7.30 U S Silica Hldgs Inc 17 16 32.560 25.520 1 0 0.0 0.0 -21.44 Valero Energy Corp N 99 93 91.910 92.770 9 9 0.2 0.2 1.84 Weatherford Intl Plc 86 0 4.170 2.290 0 0 0.0 0.0 -45.08 Willbros Group Inc D 16 0 1.420 0.553 0 0 0.0 0.0 -61.09 World Fuel Svcs Corp 17 16 28.140 24.550 0 0 0.0 0.0 -12.54 129 121 2.5 2.3 -4.78 Materials Advansix Inc 12 22 42.070 34.780 1 1 0.0 0.0 -17.33 Agrofresh Solutions 16 15 7.400 7.350 0 0 0.0 0.0 -0.68 Albemarle Corp 20 22 127.890 92.740 3 2 0.0 0.0 -27.24 American Vanguard Co 26 24 19.650 20.200 1 0 0.0 0.0 2.90 Ampco-Pittsburgh Cor 7 7 12.400 8.900 0 0 0.0 0.0 -28.23 Aptargroup Inc 41 38 86.280 89.830 4 3 0.1 0.1 4.49 Ashland Global Hldgs 29 32 71.200 69.790 2 2 0.0 0.0 -1.67 Avery Dennison Corp 44 41 114.860 106.250 5 4 0.1 0.1 -7.13 Axalta Coating Sys L 81 99 32.360 30.190 3 3 0.1 0.1 -6.71
12 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) Balchem Corp 18 17 80.600 81.750 1 1 0.0 0.0 1.43 Ball Corp 113 107 37.850 39.710 4 4 0.1 0.1 5.18 Bemis Inc 74 70 47.790 43.520 4 3 0.1 0.1 -8.32 Berry Plastics Group 41 38 58.670 54.810 2 2 0.0 0.0 -6.58 Boise Cascade Co Del 21 27 39.900 38.600 1 1 0.0 0.0 -3.09 Celanese Corp Del 46 41 107.080 100.210 5 4 0.1 0.1 -6.00 Chase Corp 6 6 120.500 116.450 1 1 0.0 0.0 -3.36 Chemours Co 67 63 50.060 48.710 3 3 0.1 0.1 -2.36 Clearwater Paper Cor 10 9 45.400 39.100 0 0 0.0 0.0 -13.88 Coeur D Alene Mines 81 76 7.500 8.000 1 1 0.0 0.0 6.67 Compass Minerals Int 16 15 72.250 60.300 1 1 0.0 0.0 -15.54 Crown Holdings Inc 47 44 56.250 50.750 3 2 0.1 0.0 -9.78 Deltic Timber Corp 2 0 91.550 NA 0 0 0.0 0.0 NA Domtar Corp 25 32 49.520 42.540 1 1 0.0 0.0 -13.22 Dowdupont Inc 140 112 71.220 63.710 10 7 0.2 0.1 -10.07 Eastman Chem Co 23 31 92.640 105.580 2 3 0.0 0.1 14.56 Ecolab Inc 85 80 134.180 137.070 11 11 0.2 0.2 2.46 F M C Corp 24 26 94.660 76.570 2 2 0.0 0.0 -18.93 Ferro Corp 71 67 23.590 23.220 2 2 0.0 0.0 -1.57 Ferroglobe Plc 30 28 16.200 10.730 0 0 0.0 0.0 -33.77 Fuller H B Co 38 43 53.870 49.730 2 2 0.0 0.0 -7.42 Futurefuel Corporati 21 19 14.090 11.990 0 0 0.0 0.0 -14.48
13 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) Gcp Applied Technolo 38 36 31.900 29.050 1 1 0.0 0.0 -8.93 Glatfelter P H Co 11 26 21.440 20.530 0 1 0.0 0.0 -3.67 Grace W R & Co Del N 36 34 70.130 61.230 3 2 0.0 0.0 -12.37 Graphic Packaging Hl 185 228 15.450 15.350 3 3 0.1 0.1 -0.16 Greif Inc 6 5 69.350 58.250 0 0 0.0 0.0 -15.11 Greif Inc 23 22 60.580 52.250 1 1 0.0 0.0 -13.06 Hawkins Inc 5 5 35.200 35.150 0 0 0.0 0.0 1.22 Haynes International 1 1 32.050 37.110 0 0 0.0 0.0 16.40 Hecla Mng Co 76 72 3.970 3.670 0 0 0.0 0.0 -7.49 Huntsman Corp 132 124 33.290 29.250 4 4 0.1 0.1 -11.68 Ingevity Corp 18 21 70.470 73.690 1 2 0.0 0.0 4.57 Innophos Holdings In 11 10 46.730 40.210 1 0 0.0 0.0 -12.98 Innospec Inc 12 12 70.600 68.600 1 1 0.0 0.0 -2.83 International Flav&F 18 16 152.610 136.910 3 2 0.1 0.0 -9.82 International Paper 45 43 57.940 53.430 3 2 0.0 0.0 -7.03 Kapstone Paper & Pac 49 47 22.690 34.310 1 2 0.0 0.0 51.65 Kmg-B Inc 15 14 66.080 59.950 1 1 0.0 0.0 -9.24 Koppers Holdings Inc 0 9 50.900 41.100 0 0 0.0 0.0 NA Kraton Performance P 17 16 48.170 47.710 1 1 0.0 0.0 -0.95 Kronos Worldwide Inc 44 42 25.770 22.600 1 1 0.0 0.0 -11.64 LSB Inds Inc 4 4 8.760 6.130 0 0 0.0 0.0 -30.02 Louisiana Pac Corp 46 89 26.260 28.770 1 3 0.0 0.0 10.04
14 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) Materion Corp 16 15 48.600 51.050 1 1 0.0 0.0 5.25 Mercer Intl Inc 13 27 14.300 12.450 0 0 0.0 0.0 -12.06 Minerals Technologie 20 19 68.850 66.950 1 1 0.0 0.0 -2.69 Mosaic Co New 47 44 25.660 24.280 1 1 0.0 0.0 -5.29 Myers Inds Inc 16 15 19.500 21.150 0 0 0.0 0.0 9.13 Neenah Paper Inc 7 7 90.650 78.400 1 1 0.0 0.0 -13.07 Newmarket Corp 5 9 397.390 401.680 2 4 0.0 0.1 1.50 Newmont Mng Corp Hld 63 69 37.520 39.070 2 3 0.0 0.1 4.52 Northern Tech Intl C 3 3 24.800 22.500 0 0 0.0 0.0 -8.87 Olin Corp 98 0 35.580 30.390 3 0 0.1 0.0 -14.04 Omnova Solutions Inc 24 23 10.000 10.500 0 0 0.0 0.0 5.00 PPG Inds Inc 66 62 116.820 111.600 8 7 0.1 0.1 -4.10 Packaging Corp Amer 38 35 120.550 112.700 5 4 0.1 0.1 -6.01 Platform Specialty P 164 155 9.920 9.630 2 1 0.0 0.0 -2.92 Polyone Corp 52 58 43.500 42.520 2 2 0.0 0.0 -1.85 Quaker Chem Corp 4 4 150.790 148.130 1 1 0.0 0.0 -1.54 RPM Inc Ohio 39 69 52.420 47.670 2 3 0.0 0.1 -8.51 Rayonier Advanced Ma 24 23 20.450 21.470 0 0 0.0 0.0 5.35 Reliance Steel & Alu 57 58 85.790 85.740 5 5 0.1 0.1 0.50 Royal Gold Inc 15 14 82.120 85.870 1 1 0.0 0.0 4.88 Ryerson Hldg Corp 0 18 10.400 8.150 0 0 0.0 0.0 NA Schnitzer Stl Inds 14 14 33.500 32.350 0 0 0.0 0.0 -2.88
15 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Materials (cont.) Schulman A Inc 16 15 37.250 43.000 1 1 0.0 0.0 16.03 Scotts Co 66 62 106.990 85.750 7 5 0.1 0.1 -19.38 Sealed Air Corp New 60 56 49.300 42.790 3 2 0.1 0.0 -12.87 Sensient Technologie 21 25 73.150 70.580 2 2 0.0 0.0 -3.05 Sherwin Williams Co 30 29 410.040 392.120 12 11 0.2 0.2 -4.16 Silgan Holdings Inc 92 87 29.390 27.850 3 2 0.1 0.0 -4.91 Sonoco Prods Co 66 62 53.140 48.500 4 3 0.1 0.1 -8.00 Stepan Chem Co 13 12 78.970 83.180 1 1 0.0 0.0 5.62 Synalloy Corp 1 1 13.400 14.350 0 0 0.0 0.0 7.09 Trecora Res 2 2 13.500 13.600 0 0 0.0 0.0 0.74 Tredegar Inds Inc 11 11 19.200 17.950 0 0 0.0 0.0 -5.95 Trinseo S A 27 36 72.600 74.050 2 3 0.0 0.1 2.48 U S Concrete Inc 7 6 83.650 60.400 1 0 0.0 0.0 -27.79 Ufp Technologies Inc 3 3 27.800 29.500 0 0 0.0 0.0 6.12 Universal Stainless 2 2 21.420 27.500 0 0 0.0 0.0 28.38 Valvoline Inc 57 153 25.060 22.130 1 3 0.0 0.1 -11.40 Vulcan Matls Co 19 22 128.370 114.170 2 3 0.0 0.0 -10.86 Westlake Chem Corp 12 15 106.530 111.150 1 2 0.0 0.0 4.53 Westrock Co 26 25 63.210 64.170 2 2 0.0 0.0 2.19 Worthington Inds Inc 41 38 44.060 42.920 2 2 0.0 0.0 -2.13 184 175 3.5 3.4 -5.03
16 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials 3m Co 76 73 235.370 219.520 18 16 0.3 0.3 -6.19 AGCO Corp 61 64 71.430 64.850 4 4 0.1 0.1 -9.01 Aaon Inc 35 33 36.700 39.000 1 1 0.0 0.0 6.27 Aar Corp 14 13 39.290 44.110 1 1 0.0 0.0 12.47 Abm Inds Inc 42 50 37.720 33.480 2 2 0.0 0.0 -10.83 Acacia Resh Corp 16 15 4.050 3.500 0 0 0.0 0.0 -13.58 Acco Brands Corp 63 60 12.200 12.550 1 1 0.0 0.0 3.36 Acme Utd Corp 2 2 23.400 20.840 0 0 0.0 0.0 -10.05 Actuant Corp 34 32 25.300 23.250 1 1 0.0 0.0 -8.10 Acuity Brands Inc 12 11 176.000 139.190 2 2 0.0 0.0 -20.85 Advanced Drain Sys I 11 10 23.850 25.900 0 0 0.0 0.0 8.89 Aecom Technology Cor 115 120 37.150 35.630 4 4 0.1 0.1 -4.09 Aegion Corp 18 17 25.430 22.910 0 0 0.0 0.0 -9.91 Aerojet Rocketdyne H 36 34 31.200 27.970 1 1 0.0 0.0 -10.35 Aerovironment Inc 11 10 56.160 45.510 1 0 0.0 0.0 -18.96 Air Lease Corp 84 98 48.090 42.620 4 4 0.1 0.1 -11.17 Air Trans Hldgs Inc 38 36 23.140 23.320 1 1 0.0 0.0 0.78 Aircastle Ltd 61 58 23.390 19.860 1 1 0.0 0.0 -13.88 Alamo Group Inc 8 8 112.870 109.900 1 1 0.0 0.0 -2.54 Alaska Airgroup 32 30 73.510 61.960 2 2 0.0 0.0 -15.30 Albany Intl Corp 14 13 61.450 62.700 1 1 0.0 0.0 2.29 Allegion Pub Ltd Co 25 28 79.560 85.290 2 2 0.0 0.0 7.47
17 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Allied Motion Techno 2 2 33.090 39.750 0 0 0.0 0.0 20.21 Allison Transmission 83 101 43.070 39.060 4 4 0.1 0.1 -8.96 Altra Holdings Inc 13 21 50.400 45.950 1 1 0.0 0.0 -8.50 Amerco 10 10 377.910 345.100 4 3 0.1 0.1 -8.55 Ameresco Inc 27 25 8.600 13.000 0 0 0.0 0.0 51.16 American Railcar Ind 3 3 41.640 37.410 0 0 0.0 0.0 -9.21 American Woodmark Co 6 6 130.250 98.450 1 1 0.0 0.0 -24.41 Ametek Inc New 74 70 72.470 75.970 5 5 0.1 0.1 5.02 Apogee Enterprises 20 19 45.730 43.350 1 1 0.0 0.0 -4.88 Applied Indl Technol 24 23 68.100 72.900 2 2 0.0 0.0 7.50 Arc Document Solutio 11 10 2.550 2.200 0 0 0.0 0.0 -13.73 Arc Group Worldwide 9 8 2.100 1.950 0 0 0.0 0.0 -7.14 Arcbest Corp 15 14 35.750 32.050 1 0 0.0 0.0 -10.13 Arconic Inc 48 60 27.250 23.040 1 1 0.0 0.0 -15.28 Argan Inc 14 13 45.000 42.950 1 1 0.0 0.0 -4.56 Armstrong Flooring I 9 8 16.920 13.570 0 0 0.0 0.0 -19.80 Armstrong World Inds 17 23 60.550 56.300 1 1 0.0 0.0 -7.02 Asgn Inc 0 42 64.270 81.880 0 3 0.0 0.1 NA Astec Inds Inc 11 10 58.500 55.180 1 1 0.0 0.0 -5.52 Astronics Corp 1 1 41.650 36.980 0 0 0.0 0.0 -11.21 Astronics Corp 26 25 41.470 37.300 1 1 0.0 0.0 -10.06 Atkore Intl Group In 13 39 21.450 19.850 0 1 0.0 0.0 -7.46
18 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Atlas Air Worldwide 14 13 58.650 60.450 1 1 0.0 0.0 3.07 Avis Budget Group 54 88 43.880 46.840 2 4 0.0 0.1 6.75 Axon Enterprise Inc 16 15 26.500 39.310 0 1 0.0 0.0 48.34 Azz Inc 14 13 51.100 43.700 1 1 0.0 0.0 -14.14 Babcock & Wilcox Ent 27 26 5.680 4.370 0 0 0.0 0.0 -23.06 Barnes Group Inc 32 30 63.270 59.890 2 2 0.0 0.0 -5.14 Barrett Business Ser 3 3 64.490 82.880 0 0 0.0 0.0 28.89 Beacon Roofing Suppl 40 68 63.760 53.070 3 4 0.0 0.1 -16.77 Blue Bird Corp 6 5 19.900 23.700 0 0 0.0 0.0 19.10 Bmc Stk Hldgs Inc 42 40 25.300 19.550 1 1 0.0 0.0 -22.73 Brady Corporation 23 21 37.900 37.150 1 1 0.0 0.0 -1.45 Briggs & Stratton Co 35 33 25.370 21.410 1 1 0.0 0.0 -15.08 Brinks Co 43 40 78.700 71.350 3 3 0.1 0.1 -9.16 Builders Firstsource 60 76 21.790 19.840 1 2 0.0 0.0 -8.95 Bwx Technologies Inc 51 48 60.490 63.530 3 3 0.1 0.1 5.28 C H Robinson Worldwi 51 48 89.090 93.710 5 4 0.1 0.1 5.73 CSX Corp 90 85 55.010 55.710 5 5 0.1 0.1 1.69 Cai International In 5 4 28.320 21.260 0 0 0.0 0.0 -24.93 Carlisle Corp 20 23 113.650 104.410 2 2 0.0 0.0 -7.81 Casella Waste Sys In 10 10 23.020 23.380 0 0 0.0 0.0 1.56 Caterpillar Inc 110 106 157.580 147.380 17 16 0.3 0.3 -6.04 Cbiz Inc 37 35 15.450 18.250 1 1 0.0 0.0 18.12
19 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Ceco Environmental C 8 8 5.130 4.450 0 0 0.0 0.0 -13.26 Celadon Group Inc 16 15 6.400 3.700 0 0 0.0 0.0 -42.19 Chart Inds Inc 16 15 46.860 59.030 1 1 0.0 0.0 25.97 Chicago Bridge & Iro 46 44 16.140 14.400 1 1 0.0 0.0 -10.78 Cimpress N V 13 14 119.880 154.700 2 2 0.0 0.0 29.05 Cintas Corp 21 23 155.830 170.580 3 4 0.1 0.1 9.47 Circor Intl Inc 6 6 48.680 42.660 0 0 0.0 0.0 -12.37 Civeo Corp Cda 14 13 2.730 3.770 0 0 0.0 0.0 38.10 Clean Harbors Inc 39 37 54.200 48.810 2 2 0.0 0.0 -9.94 Colfax Corp 53 50 39.620 31.900 2 2 0.0 0.0 -19.49 Columbus McKinnon Co 10 15 39.980 35.840 0 1 0.0 0.0 -10.25 Comfort Sys Usa Inc 24 22 43.650 41.250 1 1 0.0 0.0 -5.33 Commercial Veh Group 13 12 10.690 7.750 0 0 0.0 0.0 -27.50 Continental Bldg Pro 17 16 28.150 28.550 0 0 0.0 0.0 1.42 Copa Holdings Sa 12 11 134.060 128.630 2 1 0.0 0.0 -3.43 Copart Inc 88 83 43.190 50.930 4 4 0.1 0.1 17.92 Costar Group Inc 2 2 296.950 362.680 1 1 0.0 0.0 22.14 Covenant Trans Inc 16 15 28.730 29.830 0 0 0.0 0.0 3.83 Cpi Aerostructures I 5 4 8.950 9.750 0 0 0.0 0.0 8.94 Cra Intl Inc 3 3 44.950 52.290 0 0 0.0 0.0 16.71 Crane Co 29 28 89.220 92.740 3 3 0.0 0.0 4.33 Csw Industrials Inc 3 3 45.950 45.050 0 0 0.0 0.0 -1.96
20 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Cubic Corp 17 16 58.950 63.600 1 1 0.0 0.0 8.13 Cummins Engine Inc 32 30 176.640 162.090 6 5 0.1 0.1 -7.64 Curtiss Wright Corp 24 25 121.850 135.070 3 3 0.1 0.1 10.98 De Luxe Check Printe 31 29 76.840 74.010 2 2 0.0 0.0 -3.28 Deere & Co 58 58 156.510 155.320 9 9 0.2 0.2 -0.37 Dmc Global Inc 5 4 25.050 26.750 0 0 0.0 0.0 6.86 Donaldson Inc 76 72 48.950 45.050 4 3 0.1 0.1 -7.61 Douglas Dynamics Inc 19 18 37.800 43.350 1 1 0.0 0.0 15.35 Dover Corp 60 65 100.990 98.220 6 6 0.1 0.1 -2.29 Ducommun Inc Del 5 5 28.450 30.380 0 0 0.0 0.0 6.78 Dun & Bradstreet Cor 21 23 118.410 117.000 2 3 0.0 0.1 -0.76 Dxp Enterprises Inc 11 10 29.570 38.950 0 0 0.0 0.0 31.72 Dycom Inds Inc 23 21 111.430 107.630 3 2 0.0 0.0 -3.41 Eaton Corp Plc 67 67 79.010 79.910 5 5 0.1 0.1 1.94 Echo Global Logistic 24 22 28.000 27.600 1 1 0.0 0.0 -1.43 Emcor Group Inc 57 54 81.750 77.930 5 4 0.1 0.1 -4.58 Emerson Elec Co 103 97 69.690 68.300 7 7 0.1 0.1 -1.33 Encore Wire Corp 10 10 48.650 56.700 0 1 0.0 0.0 16.59 Enersys 22 21 69.630 69.370 2 1 0.0 0.0 -0.13 Engility Hldgs Inc N 21 20 28.370 24.400 1 0 0.0 0.0 -13.99 Ennis Business Forms 11 11 20.750 19.700 0 0 0.0 0.0 -3.70 Enpro Inds Inc 7 7 93.510 77.380 1 1 0.0 0.0 -16.98
21 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Equifax Inc 37 34 117.920 117.810 4 4 0.1 0.1 0.22 Esco Technologies In 12 11 60.250 58.550 1 1 0.0 0.0 -2.69 Essendant Inc 17 16 9.270 7.800 0 0 0.0 0.0 -14.34 Esterline Technologi 17 16 74.700 73.150 1 1 0.0 0.0 -2.07 Exone Co 6 5 8.400 7.280 0 0 0.0 0.0 -13.33 Expeditors Intl Wash 68 78 64.690 63.300 4 5 0.1 0.1 -2.15 Exponet Inc 14 13 71.100 78.650 1 1 0.0 0.0 11.00 Fastenal Co 100 95 54.690 54.590 5 5 0.1 0.1 0.48 Federal Signal Corp 49 46 20.090 22.020 1 1 0.0 0.0 9.96 Fedex Corp 39 37 249.540 240.110 10 9 0.2 0.2 -3.58 Flowserve Corp 56 88 42.130 43.330 2 4 0.0 0.1 3.77 Fluor Corp 85 80 51.650 57.220 4 5 0.1 0.1 11.19 Forrester Resh Inc 8 16 44.200 41.450 0 1 0.0 0.0 -5.77 Fortive Corp 61 58 72.350 77.520 4 4 0.1 0.1 7.24 Fortune Brands Home 38 38 68.440 58.890 3 2 0.0 0.0 -13.68 Forward Air Corp 13 20 57.440 52.860 1 1 0.0 0.0 -7.72 Foster L B Co 4 4 27.150 23.550 0 0 0.0 0.0 -13.26 Franklin Covey Co 4 4 20.750 26.900 0 0 0.0 0.0 29.64 Franklin Elec Inc 19 28 45.900 40.750 1 1 0.0 0.0 -11.01 Freightcar Amer Inc 6 5 17.080 13.400 0 0 0.0 0.0 -21.55 Fti Consulting Inc 27 25 42.960 48.410 1 1 0.0 0.0 12.69 Gardner Denver Hldgs 0 42 33.930 30.680 0 1 0.0 0.0 NA
22 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Gatx Corp 8 14 62.160 68.490 0 1 0.0 0.0 10.90 Gencor Inds Inc 5 5 16.550 16.100 0 0 0.0 0.0 -2.72 Generac Hldgs Inc 44 41 49.520 45.910 2 2 0.0 0.0 -7.29 General Cable Corp D 21 19 29.600 29.600 1 1 0.0 0.0 0.61 General Dynamics Cor 21 46 203.450 220.900 4 10 0.1 0.2 9.02 General Elec Co 936 882 17.450 13.480 16 12 0.3 0.2 -22.11 Genesee & Wyo Inc 15 21 78.730 70.790 1 1 0.0 0.0 -10.09 Gibraltar Inds Inc 12 22 33.000 33.850 0 1 0.0 0.0 2.58 Global Brass & Coppr 15 14 33.100 33.450 0 0 0.0 0.0 1.27 Gms Inc 34 32 37.640 30.560 1 1 0.0 0.0 -18.81 Goldfield Corp 13 12 4.900 3.850 0 0 0.0 0.0 -21.43 Gorman Rupp Co 12 11 31.210 29.250 0 0 0.0 0.0 -5.85 Gp Strategies Corp 12 11 23.200 22.650 0 0 0.0 0.0 -2.37 Graco Inc 79 74 45.220 45.720 4 3 0.1 0.1 1.39 Graham Corp 2 2 20.930 21.420 0 0 0.0 0.0 2.79 Grainger W W Inc 22 23 236.250 282.270 5 6 0.1 0.1 20.05 Granite Constr Inc 17 16 63.430 55.860 1 1 0.0 0.0 -11.72 Great Lakes Dredge & 39 37 5.400 4.600 0 0 0.0 0.0 -14.81 Greenbrier Cos Inc 6 6 53.300 50.250 0 0 0.0 0.0 -5.30 Griffon Corp 25 23 20.350 18.250 1 0 0.0 0.0 -5.04 H & E Equipment Serv 36 34 40.650 38.490 1 1 0.0 0.0 -4.63 Hardinge Inc 4 4 17.420 18.320 0 0 0.0 0.0 5.17
23 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Harris Corp Del 32 35 141.650 161.280 5 6 0.1 0.1 14.27 Harsco Corp 48 46 18.650 20.650 1 1 0.0 0.0 10.72 Hc2 Hldgs Inc 10 9 5.950 5.260 0 0 0.0 0.0 -11.60 Hd Supply Hldgs Inc 84 117 40.030 37.940 3 4 0.1 0.1 -5.22 Health Care Group In 27 25 52.720 43.480 1 1 0.0 0.0 -17.21 Heartland Express In 57 54 23.340 17.990 1 1 0.0 0.0 -22.84 Heico Corp New 21 14 94.350 86.810 2 1 0.0 0.0 15.10 Heico Corp New 33 27 79.050 70.950 3 2 0.0 0.0 12.29 Heidrick & Struggles 18 17 24.550 31.250 0 1 0.0 0.0 27.91 Herc Hldgs Inc 29 28 62.610 64.950 2 2 0.0 0.0 3.74 Heritage Crystal Cle 5 5 21.750 23.550 0 0 0.0 0.0 8.28 Hertz Global Holding 8 10 22.100 19.850 0 0 0.0 0.0 -10.18 Hexcel Corp New 48 45 61.850 64.590 3 3 0.1 0.1 4.63 Hill International I 13 13 5.450 5.700 0 0 0.0 0.0 4.59 Hillenbrand Inc 31 29 44.700 45.900 1 1 0.0 0.0 3.15 Hni Corp 32 30 38.570 36.090 1 1 0.0 0.0 -5.75 Honeywell Intl Inc 115 122 153.360 144.510 18 18 0.3 0.3 -5.31 Houston Wire & Cable 8 7 7.200 7.325 0 0 0.0 0.0 1.74 Hub Group Inc 16 15 47.900 41.850 1 1 0.0 0.0 -12.63 Hubbell Inc 20 19 135.340 121.780 3 2 0.1 0.0 -9.50 Hudson Technologies 10 9 6.070 4.940 0 0 0.0 0.0 -18.62 Hunt J B Trans Svcs 17 16 114.980 117.150 2 2 0.0 0.0 2.10
24 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Huntington Ingalls I 17 16 235.700 257.760 4 4 0.1 0.1 9.66 Hurco Mfg Inc 2 2 42.200 45.900 0 0 0.0 0.0 9.29 Huron Consulting Gro 12 23 40.450 38.100 0 1 0.0 0.0 -5.81 Huttig Bldg Prods In 11 11 6.650 5.230 0 0 0.0 0.0 -21.35 Hyster Yale Matls Ha 7 6 85.160 69.930 1 0 0.0 0.0 -17.54 Icf Intl Inc 13 12 52.500 58.450 1 1 0.0 0.0 11.60 Idex Corp 22 21 131.970 142.510 3 3 0.1 0.1 8.28 Ies Hldgs Inc 6 5 17.250 15.150 0 0 0.0 0.0 -12.17 Illinois Tool Wks In 67 66 166.850 156.660 11 10 0.2 0.2 -5.63 Ingersoll-Rand Plc 65 62 89.190 85.510 6 5 0.1 0.1 -3.63 Innerworkings Inc 30 28 10.030 9.050 0 0 0.0 0.0 -9.77 Insperity Inc 34 32 57.350 69.550 2 2 0.0 0.0 21.62 Insteel Inds Inc 6 11 28.320 27.630 0 0 0.0 0.0 -2.33 Interface Inc 37 35 25.150 25.200 1 1 0.0 0.0 0.46 Itt Inc 78 73 53.370 48.980 4 4 0.1 0.1 -7.99 Jacobs Engr Group In 47 51 65.960 59.150 3 3 0.1 0.1 -10.11 Jeld-Wen Hldg Inc 0 16 39.370 30.620 0 0 0.0 0.0 NA Jetblue Awys Corp 92 86 22.340 20.320 2 2 0.0 0.0 -9.04 John Bean Technologi 19 18 110.800 113.400 2 2 0.0 0.0 2.44 Johnson Ctls Intl Pl 87 171 38.110 35.240 3 6 0.1 0.1 -6.88 Kadant Inc 5 5 100.400 94.500 1 0 0.0 0.0 -5.67 Kaman Corp 21 19 58.840 62.120 1 1 0.0 0.0 5.91
25 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Kar Auction Svcs Inc 73 68 50.510 54.200 4 4 0.1 0.1 7.98 Kbr Inc 104 98 19.830 16.190 2 2 0.0 0.0 -17.96 Kelly Svcs Inc 31 29 27.270 29.040 1 1 0.0 0.0 6.76 Kennametal Inc 40 46 48.410 40.160 2 2 0.0 0.0 -16.65 Key Technology Inc 5 0 18.430 26.740 0 0 0.0 0.0 45.09 Keyw Hldg Corp 5 5 5.870 7.860 0 0 0.0 0.0 33.90 Kforce Com Inc 37 35 25.250 27.050 1 1 0.0 0.0 7.58 Kimball Intl Inc 22 21 18.670 17.040 0 0 0.0 0.0 -8.36 Kirby Expl Co. 7 7 66.800 76.950 0 1 0.0 0.0 15.19 Klx Inc 29 27 68.250 71.060 2 2 0.0 0.0 4.12 Knight Swift Transn 63 60 43.720 46.010 3 3 0.1 0.1 5.37 Knoll Inc 26 24 23.040 20.190 1 0 0.0 0.0 -11.77 Korn Ferry Intl 41 39 41.380 51.590 2 2 0.0 0.0 24.93 Kratos Defense & Sec 34 32 10.590 10.290 0 0 0.0 0.0 -2.83 L3 Technologies Inc 29 30 197.850 208.000 6 6 0.1 0.1 5.54 LSI Inds Inc 7 7 6.880 8.110 0 0 0.0 0.0 18.62 Landstar Sys Inc 28 26 104.100 109.650 3 3 0.1 0.1 6.94 Lawson Prods Inc 3 3 24.750 25.250 0 0 0.0 0.0 2.02 Layne Inc 4 4 12.550 14.920 0 0 0.0 0.0 18.88 Lennox Intl Inc 11 12 208.260 204.370 2 2 0.0 0.0 -1.62 Lincoln Elec Hldgs I 39 37 91.580 89.950 4 3 0.1 0.1 -1.35 Lindsay Mfg Co 5 4 88.200 91.440 0 0 0.0 0.0 4.01
26 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Lsc Communications I 15 14 15.150 17.450 0 0 0.0 0.0 17.58 Lydall Inc 7 7 50.750 48.250 0 0 0.0 0.0 -4.93 Macquarie Infrastruc 37 35 64.200 36.930 2 1 0.0 0.0 -40.33 Manitowoc Co Inc 24 22 39.340 28.460 1 1 0.0 0.0 -27.66 Manpower Inc 45 46 126.110 115.100 6 5 0.1 0.1 -8.73 Marten Trans Ltd 17 18 20.300 22.800 0 0 0.0 0.0 12.43 Masco Corp 71 67 43.940 40.440 3 3 0.1 0.1 -7.75 Masonite Intl Corp N 8 8 74.150 61.350 1 0 0.0 0.0 -17.26 Mastec Inc 63 60 48.950 47.050 3 3 0.1 0.1 -3.88 Matthews Intl Corp 13 12 52.800 50.600 1 1 0.0 0.0 -3.83 Maxar Technologies L 11 0 64.320 46.250 1 0 0.0 0.0 -27.64 McGrath Rentcorp 13 14 46.980 53.690 1 1 0.0 0.0 14.88 Mercury Computer Sys 17 16 51.350 48.320 1 1 0.0 0.0 -5.90 Meritor Inc 55 52 23.460 20.560 1 1 0.0 0.0 -12.36 Middleby Corp 14 17 134.950 123.790 2 2 0.0 0.0 -8.27 Milacron Hldgs Corp 24 42 19.140 20.140 0 1 0.0 0.0 5.22 Miller Herman Inc 30 28 40.050 31.950 1 1 0.0 0.0 -19.83 Miller Inds Inc Tenn 4 3 25.800 25.000 0 0 0.0 0.0 -2.40 Mistras Group Inc 16 15 23.470 18.940 0 0 0.0 0.0 -19.30 Mobile Mini 26 33 34.500 43.500 1 1 0.0 0.0 26.83 Moog Inc 'a' 18 17 86.850 82.410 2 1 0.0 0.0 -5.11 Moog Inc 'b' 1 1 88.740 80.520 0 0 0.0 0.0 -9.26
27 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Mrc Global Inc 71 67 16.920 16.440 1 1 0.0 0.0 -2.84 Msa Safety Inc 16 11 77.520 83.240 1 1 0.0 0.0 7.88 Msc Indl Direct Inc 34 32 96.660 91.710 3 3 0.1 0.1 -4.54 Mueller Inds Inc 24 23 35.430 26.160 1 1 0.0 0.0 -25.90 Mueller Wtr Prods In 88 83 12.530 10.870 1 1 0.0 0.0 -12.85 Multi Color Corp 7 6 74.850 66.050 1 0 0.0 0.0 -11.69 Myr Group Inc Del 8 7 35.730 30.820 0 0 0.0 0.0 -13.74 NL Inds Inc 6 6 14.250 7.850 0 0 0.0 0.0 -44.91 National Presto Inds 3 3 99.450 93.750 0 0 0.0 0.0 0.50 Navigant Consulting 28 26 19.410 19.240 1 1 0.0 0.0 -0.88 Navistar Intl Corp N 50 47 42.880 34.970 2 2 0.0 0.0 -18.45 Nci Building Sys Inc 21 20 19.300 17.700 0 0 0.0 0.0 -8.29 Nielsen Hldgs Plc 231 219 36.400 31.790 8 7 0.2 0.1 -11.77 Nn Inc 13 12 27.600 24.000 0 0 0.0 0.0 -12.80 Nordson Corp 22 20 146.400 136.340 3 3 0.1 0.1 -6.67 Norfolk Southern Cor 19 18 144.900 135.780 3 2 0.1 0.0 -5.84 Northrop Corp 43 42 306.910 349.120 13 15 0.3 0.3 14.12 Northwest Pipe Co 5 4 19.140 17.300 0 0 0.0 0.0 -9.61 Now Inc 84 79 11.030 10.220 1 1 0.0 0.0 -7.34 Nv5 Hldgs Inc 1 1 54.150 55.750 0 0 0.0 0.0 2.95 Old Dominion Fght Li 26 27 131.550 146.970 3 4 0.1 0.1 11.83 Omega Flex Inc 2 2 71.410 65.100 0 0 0.0 0.0 -8.84
28 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) On Assignment Inc 44 0 64.270 81.880 3 0 0.1 0.0 27.40 Orion Marine Group I 5 5 7.830 6.590 0 0 0.0 0.0 -15.84 Oshkosh Truck Corp 46 47 90.890 77.270 4 4 0.1 0.1 -14.75 Paccar Inc 88 91 71.080 66.170 6 6 0.1 0.1 -6.57 Park Ohio Hldgs Corp 5 4 45.950 38.850 0 0 0.0 0.0 -15.19 Parker Hannifin Corp 26 25 199.580 171.030 5 4 0.1 0.1 -13.98 Patrick Inds Inc 12 11 69.450 61.850 1 1 0.0 0.0 -10.94 Patriot Transn Hldg 2 2 17.590 18.560 0 0 0.0 0.0 5.51 Pentair Plc 53 56 70.620 68.130 4 4 0.1 0.1 -3.07 Pgt Inc 19 18 16.850 18.650 0 0 0.0 0.0 10.68 Pitney Bowes Inc 127 119 11.180 10.890 1 1 0.0 0.0 -1.11 Ply Gem Hldgs Inc 16 15 18.500 21.600 0 0 0.0 0.0 16.76 Powell Inds Inc 4 4 28.650 26.840 0 0 0.0 0.0 -5.44 Primoris Svcs Corp 38 36 27.190 24.980 1 1 0.0 0.0 -7.90 Proto Labs Inc 8 8 103.000 117.550 1 1 0.0 0.0 14.13 Quad / Graphics Inc 22 20 22.600 25.350 0 1 0.0 0.0 13.43 Quanex Building Prod 9 9 23.400 17.400 0 0 0.0 0.0 -25.48 Quanta Svcs Inc 94 88 39.110 34.350 4 3 0.1 0.1 -12.17 Radiant Logistics In 13 12 4.600 3.870 0 0 0.0 0.0 -15.87 Raven Inds Inc 11 10 34.350 35.050 0 0 0.0 0.0 2.40 Raytheon Co 40 59 187.850 215.820 8 13 0.1 0.2 15.38 Rbc Bearings Inc 9 9 126.400 124.200 1 1 0.0 0.0 -1.74
29 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Regal Beloit Corp 20 19 76.600 73.350 2 1 0.0 0.0 -3.89 Resources Connection 25 23 15.450 16.200 0 0 0.0 0.0 5.68 Rev Group Inc 0 11 32.530 20.760 0 0 0.0 0.0 NA Rexnord Corp New 60 57 26.020 29.680 2 2 0.0 0.0 14.07 Roadrunner Trnsn Svc 11 11 7.710 2.540 0 0 0.0 0.0 -67.06 Robert Half Intl Inc 91 86 55.540 57.890 5 5 0.1 0.1 4.74 Rockwell Automation 39 37 196.350 174.200 8 6 0.1 0.1 -10.88 Rockwell Collins Inc 67 63 135.620 134.850 9 8 0.2 0.2 -0.32 Rollins Inc 43 41 46.530 51.030 2 2 0.0 0.0 10.01 Roper Inds Inc New 15 14 259.000 280.690 4 4 0.1 0.1 8.54 Rpx Corp 26 25 13.440 10.690 0 0 0.0 0.0 -20.10 Rush Enterpises Inc 21 19 50.810 42.490 1 1 0.0 0.0 -16.37 Ryder Sys Inc 40 38 84.170 72.790 3 3 0.1 0.1 -12.93 SPX Corp 12 11 31.390 32.480 0 0 0.0 0.0 3.47 Saia Inc 14 14 70.750 75.150 1 1 0.0 0.0 6.22 Schneider National I 0 30 28.560 26.060 0 1 0.0 0.0 NA Scorpio Bulkers Inc 22 21 7.400 7.050 0 0 0.0 0.0 -4.49 Sensata Technologies 0 78 51.110 51.830 0 4 0.0 0.1 NA Sensata Technologies 83 0 51.110 51.830 4 0 0.1 0.0 1.41 Siteone Landscape Su 23 29 76.700 77.040 2 2 0.0 0.0 0.44 Smith A O Corp 'b' 22 21 61.280 63.590 1 1 0.0 0.0 4.05 Snap On Tools Corp 22 29 174.300 147.540 4 4 0.1 0.1 -14.90
30 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Sp Plus Corp 11 11 37.100 35.600 0 0 0.0 0.0 -4.04 Spartan Mtrs Inc 13 12 15.750 17.200 0 0 0.0 0.0 9.21 Sparton Corp 1 1 23.060 17.410 0 0 0.0 0.0 -24.50 Spirit Aerosystems H 67 63 87.250 83.700 6 5 0.1 0.1 -3.96 Spx Flow Inc 21 20 47.550 49.190 1 1 0.0 0.0 3.45 Standex Intl Corp 5 5 101.850 95.350 1 0 0.0 0.0 -6.21 Stanley Black & Deck 25 23 169.690 153.200 4 4 0.1 0.1 -9.36 Starrett L S Co 4 4 8.600 6.750 0 0 0.0 0.0 -21.51 Steelcase Inc 41 39 15.200 13.600 1 1 0.0 0.0 -9.64 Sterling Constructio 6 5 16.280 11.460 0 0 0.0 0.0 -29.61 Sun Hydraulics Corp 8 13 64.690 53.560 1 1 0.0 0.0 -17.09 Sunrun Inc 8 7 5.900 8.930 0 0 0.0 0.0 51.36 Team Inc 16 15 14.900 13.750 0 0 0.0 0.0 -7.72 Teledyne Technologie 20 20 181.150 187.170 4 4 0.1 0.1 3.32 Tennant Co 7 7 72.650 67.700 1 0 0.0 0.0 -6.53 Terex Corp New 49 46 48.220 37.410 2 2 0.0 0.0 -22.22 Tetra Tech Inc New 36 34 48.150 48.950 2 2 0.0 0.0 1.88 Textainer Group Hold 4 4 21.500 16.950 0 0 0.0 0.0 -21.16 Textron Inc 40 83 56.590 58.970 2 5 0.0 0.1 4.24 Thermon Group Hldgs 13 12 23.670 22.410 0 0 0.0 0.0 -5.32 Timken Co 38 36 49.150 45.600 2 2 0.0 0.0 -6.67 Titan Intl Inc Ill 26 24 12.880 12.610 0 0 0.0 0.0 -2.06
31 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Titan Machy Inc 8 7 21.170 23.560 0 0 0.0 0.0 11.29 Toro Co 42 39 65.230 62.450 3 2 0.1 0.0 -4.26 Transdigm Group Inc 13 12 274.620 306.940 4 4 0.1 0.1 11.77 Transunion 46 43 54.960 56.780 3 2 0.0 0.0 3.31 Trex Inc 8 8 108.390 108.770 1 1 0.0 0.0 0.35 Trimas Corp 20 19 26.750 26.250 1 0 0.0 0.0 -1.87 Trinet Group Inc 52 49 44.340 46.320 2 2 0.0 0.0 4.47 Trinity Inds Inc 82 77 37.460 32.630 3 3 0.1 0.0 -12.59 Triton Intl Ltd 50 68 37.450 30.600 2 2 0.0 0.0 -17.08 Triumph Group Inc Ne 30 29 27.200 25.200 1 1 0.0 0.0 -7.22 Trueblue Inc 24 23 27.500 25.900 1 1 0.0 0.0 -5.82 Tutor Perini Corp 26 24 25.350 22.050 1 1 0.0 0.0 -13.02 Twin Disc Inc 4 4 26.570 21.740 0 0 0.0 0.0 -18.18 U S G Corp 42 40 38.560 40.420 2 2 0.0 0.0 4.82 USA Truck Inc 5 5 18.130 25.490 0 0 0.0 0.0 40.60 Unifirst Corp Mass 7 6 164.900 161.650 1 1 0.0 0.0 -1.95 Union Pac Corp 31 32 134.100 134.430 4 4 0.1 0.1 0.79 United Parcel Servic 87 85 119.150 104.660 10 9 0.2 0.2 -11.41 United Rentals Inc 39 37 171.910 172.730 7 6 0.1 0.1 0.48 United Technologies 160 154 127.570 125.820 20 19 0.4 0.4 -0.84 Univar Inc 86 96 30.960 27.750 3 3 0.1 0.1 -10.37 Universal Fst Prods 16 15 37.620 32.450 1 0 0.0 0.0 -13.74
32 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Universal Truckload 7 6 23.750 21.150 0 0 0.0 0.0 -10.66 VSE Corp 4 4 48.430 51.720 0 0 0.0 0.0 6.94 Valmont Inds Inc 11 12 165.850 146.300 2 2 0.0 0.0 -11.56 Vectrus Inc 4 3 30.850 37.240 0 0 0.0 0.0 20.71 Verisk Analytics Inc 71 66 96.000 104.000 7 7 0.1 0.1 8.33 Veritiv Corp 9 8 28.900 39.200 0 0 0.0 0.0 35.64 Wabash Natl Corp 35 33 21.700 20.810 1 1 0.0 0.0 -3.76 Wabco Hldgs Inc 20 18 143.500 133.870 3 2 0.1 0.0 -6.71 Wabtec Corp 27 25 81.430 81.400 2 2 0.0 0.0 0.13 Wageworks Inc 0 6 62.000 45.200 0 0 0.0 0.0 NA Watsco Inc 25 25 170.040 180.970 4 5 0.1 0.1 7.19 Watts Water Tech 15 14 75.950 77.700 1 1 0.0 0.0 2.56 Welbilt Inc 59 56 23.510 19.450 1 1 0.0 0.0 -17.27 Werner Enterprises I 42 40 38.650 36.500 2 1 0.0 0.0 -5.56 Wesco Aircraft Hldgs 42 40 7.400 10.250 0 0 0.0 0.0 38.51 Wesco Intl Inc 35 39 68.150 62.050 2 2 0.0 0.0 -8.95 Willdan Group Inc 2 2 23.940 28.350 0 0 0.0 0.0 18.42 Willis Lease Finance 2 2 24.970 34.280 0 0 0.0 0.0 37.28 Woodward Governor Co 30 39 76.540 71.660 2 3 0.0 0.1 -6.20 Xerium Technologies 8 8 4.260 6.450 0 0 0.0 0.0 51.41 Xpo Logistics Inc 57 53 91.590 101.810 5 5 0.1 0.1 11.16 Xylem Inc 54 56 68.200 76.920 4 4 0.1 0.1 13.11
33 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Industrials (cont.) Yrc Worldwide Inc 13 12 14.380 8.830 0 0 0.0 0.0 -38.60 709 703 13.5 13.5 -2.19 Consumer Discretionary 1 800 Flowers Com 19 18 10.700 11.800 0 0 0.0 0.0 10.28 A H Belo Corp 1 1 4.800 5.150 0 0 0.0 0.0 9.01 Aaron Rents Inc 35 44 39.850 46.600 1 2 0.0 0.0 17.01 Abercrombie & Fitch 44 41 17.430 24.210 1 1 0.0 0.0 40.14 Acushnet Holdings Co 0 3 21.080 23.090 0 0 0.0 0.0 NA Adient Plc 15 26 78.700 59.760 1 2 0.0 0.0 -23.80 Advance Auto Parts 18 23 99.690 118.550 2 3 0.0 0.1 18.98 Amazon Com Inc 109 111 1169.470 1447.340 127 161 2.4 3.1 23.76 Amc Entmt Hldgs Inc 32 30 15.100 14.050 0 0 0.0 0.0 -5.77 Amc Networks Inc 28 27 54.080 51.700 2 1 0.0 0.0 -4.40 American Axle & Mfg 43 41 17.030 15.220 1 1 0.0 0.0 -10.63 American Eagle Outfi 103 120 18.800 19.930 2 2 0.0 0.0 6.01 American Outdoor Bra 30 0 12.840 10.320 0 0 0.0 0.0 -19.63 Americas Car Mart In 3 3 44.650 50.450 0 0 0.0 0.0 12.99 Aptiv Plc 60 61 84.830 84.970 5 5 0.1 0.1 0.40 Aramark Hldgs Corp 58 55 42.740 39.560 2 2 0.0 0.0 -7.20 Ark Restaurants Corp 2 2 27.020 24.000 0 0 0.0 0.0 -10.29 Asbury Automotive Gr 16 15 64.000 67.500 1 1 0.0 0.0 5.47 Ascena Retail Group 66 62 2.350 2.010 0 0 0.0 0.0 -14.47
34 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Ascent Media Corp 2 2 11.490 3.680 0 0 0.0 0.0 -67.97 At Home Group Inc 11 16 30.390 32.040 0 1 0.0 0.0 5.43 Autoliv Inc 36 34 127.080 145.940 5 5 0.1 0.1 15.32 Autonation Inc 63 60 51.330 46.780 3 3 0.1 0.1 -8.86 Autozone Inc 5 6 711.370 648.690 4 4 0.1 0.1 -8.81 Av Homes Inc 9 9 16.650 18.550 0 0 0.0 0.0 11.41 Ballantyne Omaha Inc 6 6 4.650 4.450 0 0 0.0 0.0 -4.30 Barnes & Noble Ed In 27 25 8.240 6.890 0 0 0.0 0.0 -16.38 Barnes & Nobles Inc 53 50 6.700 4.950 0 0 0.0 0.0 -24.41 Bassett Furniture In 4 4 37.600 30.350 0 0 0.0 0.0 -19.00 Beasley Broadcast Gr 5 4 13.400 11.300 0 0 0.0 0.0 -15.29 Beazer Homes Usa Inc 26 24 19.210 15.950 0 0 0.0 0.0 -16.97 Bed Bath & Beyond In 53 50 21.990 20.990 1 1 0.0 0.0 -3.89 Best Buy Inc 169 160 68.470 69.990 12 11 0.2 0.2 2.89 Big 5 Sporting Goods 11 11 7.600 7.250 0 0 0.0 0.0 -2.24 Big Lots Inc 18 17 56.150 43.530 1 1 0.0 0.0 -21.95 Bjs Restaurants Inc 8 7 36.400 44.900 0 0 0.0 0.0 23.66 Bloomin Brands Inc 46 44 21.340 24.280 1 1 0.0 0.0 14.21 Bojangles Inc 17 16 11.800 13.850 0 0 0.0 0.0 17.37 Booking Hldgs Inc 0 8 1737.740 2080.390 0 17 0.0 0.3 NA Boot Barn Hldgs Inc 6 6 16.610 17.730 0 0 0.0 0.0 6.74 Borg-Warner Automoti 56 65 51.090 50.230 3 3 0.1 0.1 -1.34
35 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Brinker Intl Inc 19 18 38.840 36.100 1 1 0.0 0.0 -6.08 Brunswick Corp 50 62 55.220 59.390 3 4 0.1 0.1 7.90 Buckle Inc 3 3 23.750 22.150 0 0 0.0 0.0 1.94 Buffalo Wild Wings I 4 0 156.350 NA 1 0 0.0 0.0 NA Build A Bear Worksho 5 5 9.200 9.150 0 0 0.0 0.0 -0.54 Burlington Stores In 14 17 123.030 133.150 2 2 0.0 0.0 8.23 CSS Inds Inc 1 1 27.830 17.500 0 0 0.0 0.0 -36.44 Cable One Inc 5 5 703.350 687.110 4 3 0.1 0.1 -2.06 Calatlantic Group In 93 0 56.390 NA 5 0 0.1 0.0 NA Caleres Inc 20 31 33.480 33.600 1 1 0.0 0.0 0.58 Callaway Golf Co 44 67 13.930 16.360 1 1 0.0 0.0 17.52 Cambium Learning Grp 13 12 5.680 11.200 0 0 0.0 0.0 97.18 Carmax Inc 81 92 64.130 61.940 5 6 0.1 0.1 -3.41 Carrols Restaurant G 18 17 12.150 11.200 0 0 0.0 0.0 -7.82 Carter Hldgs Inc 35 33 117.490 104.100 4 3 0.1 0.1 -11.05 Cato Corp New 11 11 15.920 14.740 0 0 0.0 0.0 -4.88 Cavco Inds Inc Del 8 7 152.600 173.750 1 1 0.0 0.0 13.86 Cbs Corp 102 96 59.000 51.390 6 5 0.1 0.1 -12.60 Cbs Corp -A 2 2 59.340 51.680 0 0 0.0 0.0 -12.61 Century Casinos Inc 6 6 9.130 7.460 0 0 0.0 0.0 -18.29 Century Cmntys Inc 15 24 31.100 29.950 0 1 0.0 0.0 -3.70 Charter Communicatio 61 57 335.960 311.220 20 18 0.4 0.3 -7.36
36 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Cheesecake Factory I 20 19 48.180 48.220 1 1 0.0 0.0 0.70 Cherokee Inc Del New 5 5 1.900 1.300 0 0 0.0 0.0 -31.58 Chicos Fas Inc 67 113 8.820 9.040 1 1 0.0 0.0 3.50 Childrens Pl Retail 10 10 145.350 135.250 1 1 0.0 0.0 -6.95 Chipotle Mexican Gri 3 2 289.030 323.110 1 1 0.0 0.0 11.79 Chuys Hldgs Inc 6 5 28.050 26.200 0 0 0.0 0.0 -6.60 Cinemark Holdings In 72 68 34.820 37.670 3 3 0.0 0.0 9.02 Citi Trends Inc 8 8 26.460 30.910 0 0 0.0 0.0 17.25 Clarus Corp New 9 0 7.850 6.750 0 0 0.0 0.0 -14.01 Clear Channel Outdoo 26 25 4.600 4.900 0 0 0.0 0.0 8.37 Collectors Universe 4 4 28.640 15.710 0 0 0.0 0.0 -44.56 Columbia Sportswear 47 44 71.880 76.430 3 3 0.1 0.1 6.64 Comcast Corp New 1,488 1,444 40.050 34.170 60 49 1.1 0.9 -14.35 Conns Inc 1 1 35.550 34.000 0 0 0.0 0.0 -4.36 Cooper Std Hldgs Inc 5 5 122.500 122.810 1 1 0.0 0.0 0.25 Cracker Barrel Old C 10 10 158.890 159.200 2 2 0.0 0.0 0.88 Crocs Inc 16 15 12.640 16.250 0 0 0.0 0.0 28.56 Culp Inc 4 3 33.500 30.550 0 0 0.0 0.0 -8.54 D R Horton Inc 190 179 51.070 43.840 10 8 0.2 0.2 -13.91 Daily Journal Co 2 2 230.220 228.490 0 0 0.0 0.0 -0.75 Dana Holding Corp 54 80 32.010 25.760 2 2 0.0 0.0 -19.22 Dave & Busters Entmt 20 19 55.170 41.740 1 1 0.0 0.0 -24.34
37 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Deckers Outdoor Corp 19 26 80.250 90.030 2 2 0.0 0.0 12.19 Del Friscos Restaura 8 7 15.250 15.250 0 0 0.0 0.0 0.00 Del Taco Restaurants 15 14 12.120 10.360 0 0 0.0 0.0 -14.52 Delphi Technologies 20 19 52.470 47.650 1 1 0.0 0.0 -8.89 Delta Apparel Inc 1 1 20.200 18.020 0 0 0.0 0.0 -10.79 Dennys Corp 28 26 13.240 15.430 0 0 0.0 0.0 16.54 Destination Xl Group 14 14 2.200 1.750 0 0 0.0 0.0 -20.45 Dicks Sporting Goods 34 69 28.740 35.050 1 2 0.0 0.0 22.83 Dillards Inc 16 15 60.050 80.340 1 1 0.0 0.0 33.96 Dineequity Inc 8 8 50.730 65.580 0 1 0.0 0.0 30.51 Discovery Communicat 125 117 22.380 21.430 3 3 0.1 0.0 -4.24 Discovery Communicat 182 171 21.170 19.520 4 3 0.1 0.1 -7.79 Dish Network Corp 59 56 47.750 37.890 3 2 0.1 0.0 -20.65 Disney Walt Prodtns 269 253 107.510 100.440 29 25 0.6 0.5 -6.58 Dollar Gen Corp New 87 82 93.010 93.550 8 8 0.2 0.1 0.86 Dollar Tree Inc 81 76 107.310 94.900 9 7 0.2 0.1 -11.56 Dominos Pizza Inc 9 8 188.960 233.560 2 2 0.0 0.0 23.90 Dorman Products Inc 8 14 61.140 66.210 0 1 0.0 0.0 8.29 Drive Shack Inc 43 41 5.530 4.780 0 0 0.0 0.0 -13.56 Dsw Inc 53 50 21.410 22.460 1 1 0.0 0.0 6.13 Dunkin Brands Group 61 78 64.470 59.690 4 5 0.1 0.1 -6.88 El Pollo Loco Hldgs 7 7 9.900 9.500 0 0 0.0 0.0 -4.04
38 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Eldorado Resorts Inc 13 13 33.150 33.000 0 0 0.0 0.0 -0.45 Ellis Perry Intl Inc 5 4 25.040 25.800 0 0 0.0 0.0 3.04 Entercom Communicati 92 48 10.800 9.650 1 0 0.0 0.0 -9.83 Entravision Communic 56 52 7.150 4.700 0 0 0.0 0.0 -33.63 Escalade Inc 4 4 12.300 13.700 0 0 0.0 0.0 12.44 Ethan Allen Interior 13 12 28.600 22.950 0 0 0.0 0.0 -18.31 Expedia Inc Del 21 20 119.770 110.410 3 2 0.0 0.0 -7.57 Express Inc 59 56 10.150 7.160 1 0 0.0 0.0 -29.46 Fiesta Restaurant Gr 10 9 19.000 18.500 0 0 0.0 0.0 -2.63 Finish Line Inc 18 17 14.530 13.540 0 0 0.0 0.0 -5.79 Five Below Inc 35 33 66.320 73.340 2 2 0.0 0.0 10.59 Flexsteel Inds Inc 2 2 46.780 39.580 0 0 0.0 0.0 -14.90 Foot Locker Inc 32 77 46.880 45.540 2 4 0.0 0.1 -2.24 Ford Mtr Co Del 854 805 12.490 11.080 11 9 0.2 0.2 -9.06 Fossil Group Inc 25 24 7.770 12.700 0 0 0.0 0.0 63.45 Fox Factory Hldg Cor 16 15 38.850 34.900 1 1 0.0 0.0 -10.17 Francescas Hldgs Cor 23 22 7.310 4.800 0 0 0.0 0.0 -34.34 Freds Inc 19 18 4.050 2.990 0 0 0.0 0.0 -26.17 Ftd Cos Inc 13 12 7.190 3.640 0 0 0.0 0.0 -49.37 G-III Apparel Group 34 43 36.890 37.680 1 2 0.0 0.0 2.14 Gamestop Corp New 77 72 17.950 12.620 1 1 0.0 0.0 -28.02 Gannett Spinco Inc 51 74 11.590 9.980 1 1 0.0 0.0 -12.51
39 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Gap Inc 206 194 34.060 31.200 7 6 0.1 0.1 -7.77 Garmin Ltd 50 52 59.570 58.930 3 3 0.1 0.1 -0.24 Gci Liberty Inc 0 4 NA 23.350 0 0 0.0 0.0 NA Gci Liberty Inc 0 36 54.240 52.860 0 2 0.0 0.0 NA General Motors Corp. 203 210 40.990 36.340 8 8 0.2 0.1 -10.45 Genesco Inc 11 10 32.500 40.600 0 0 0.0 0.0 24.92 Gentex Corp 110 104 20.950 23.020 2 2 0.0 0.0 10.39 Gentherm Inc 10 9 31.750 33.950 0 0 0.0 0.0 6.93 Genuine Parts Co 51 48 95.010 89.840 5 4 0.1 0.1 -4.69 Global Eagle Acquisi 9 9 2.290 1.470 0 0 0.0 0.0 -35.81 Gray Television Inc 75 71 16.750 12.700 1 1 0.0 0.0 -24.18 Green Brick Partners 5 5 11.300 10.900 0 0 0.0 0.0 -3.54 Group 1 Automotive I 9 9 70.970 65.340 1 1 0.0 0.0 -7.59 Groupon Inc 437 412 5.100 4.340 2 2 0.0 0.0 -14.90 Guess Inc 55 52 16.880 20.740 1 1 0.0 0.0 22.87 Habit Restaurants In 16 15 9.550 8.800 0 0 0.0 0.0 -7.85 Hanesbrands Inc 69 65 20.910 18.420 1 1 0.0 0.0 -11.26 Harley Davidson Inc 71 67 50.880 42.880 4 3 0.1 0.1 -15.06 Hasbro Bradley Inc 53 57 90.890 84.300 5 5 0.1 0.1 -6.69 Haverty Furniture In 11 10 22.650 20.150 0 0 0.0 0.0 -10.25 Helen of Troy Corp L 12 12 96.350 87.000 1 1 0.0 0.0 -9.70 Hemisphere Media Gro 4 4 11.550 11.250 0 0 0.0 0.0 -2.60
40 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Hibbett Sports Inc 1 10 20.400 23.950 0 0 0.0 0.0 17.40 Hilton Grand Vacatio 0 20 41.950 43.020 0 1 0.0 0.0 NA Home Depot Inc 264 255 189.530 178.240 50 45 1.0 0.9 -5.41 Hooker Furniture Cor 5 4 42.450 36.700 0 0 0.0 0.0 -13.23 Horizon Global Corp 5 5 14.020 8.240 0 0 0.0 0.0 -41.23 Hovnanian Enterprise 59 55 3.350 1.830 0 0 0.0 0.0 -45.37 Hsn Inc 17 0 40.350 NA 1 0 0.0 0.0 NA Hyatt Hotels Corp 14 13 73.540 76.260 1 1 0.0 0.0 3.89 Iconix Brand Group I 29 28 1.290 1.110 0 0 0.0 0.0 -13.95 Imax Corp 32 30 23.150 19.200 1 1 0.0 0.0 -17.06 Installed Bldg Prods 28 26 75.950 60.050 2 2 0.0 0.0 -20.93 International Game T 60 57 26.510 26.730 2 2 0.0 0.0 1.53 Interpublic Group Co 237 223 20.160 23.030 5 5 0.1 0.1 15.26 Irobot Corp 11 10 76.700 64.190 1 1 0.0 0.0 -16.31 J Alexanders Hldgs I 4 4 9.700 11.450 0 0 0.0 0.0 18.04 Jack In the Box Inc 11 11 98.110 85.330 1 1 0.0 0.0 -12.65 Jc Penney Co 105 99 3.160 3.020 0 0 0.0 0.0 -4.43 Johnson Outdoors Inc 2 2 62.090 62.000 0 0 0.0 0.0 0.02 Kb Home 83 79 31.950 28.450 3 2 0.1 0.0 -10.88 Kirklands Inc 7 7 11.965 9.690 0 0 0.0 0.0 -19.01 Kohls Corp 58 55 54.230 65.510 3 4 0.1 0.1 21.95 L Brands Inc 34 61 60.220 38.210 2 2 0.0 0.0 -35.76
41 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) La Z Boy Inc 23 22 31.200 29.950 1 1 0.0 0.0 -3.63 Lakeland Inds Inc 5 5 14.550 12.950 0 0 0.0 0.0 -11.00 Las Vegas Sands Corp 49 22 69.490 71.900 3 2 0.1 0.0 4.53 Lci Inds 16 15 130.000 104.150 2 2 0.0 0.0 -19.48 Lear Corp 25 34 176.660 186.090 4 6 0.1 0.1 5.73 Lennar Corp 8 9 51.680 47.690 0 0 0.0 0.0 -7.65 Lennar Corp- Cl A 80 153 63.240 58.940 5 9 0.1 0.2 -6.75 Liberty Braves Group 5 5 22.220 22.820 0 0 0.0 0.0 2.70 Liberty Braves Group 2 2 22.050 22.730 0 0 0.0 0.0 3.08 Liberty Broadband Co 43 40 85.160 85.690 4 3 0.1 0.1 0.62 Liberty Broadband Co 7 7 85.050 84.800 1 1 0.0 0.0 -0.29 Liberty Expedia Hold 5 5 44.330 39.280 0 0 0.0 0.0 -11.39 Liberty Interactive 26 0 54.240 52.860 1 0 0.0 0.0 -2.54 Liberty Interactive 175 191 24.420 25.170 4 5 0.1 0.1 3.07 Liberty Media Corp D 5 5 32.720 29.290 0 0 0.0 0.0 -10.48 Liberty Media Corp D 12 11 34.160 30.850 0 0 0.0 0.0 -9.69 Liberty Siriusxm Grp 48 45 39.660 40.850 2 2 0.0 0.0 3.00 Liberty Siriusxm Grp 22 20 39.660 41.100 1 1 0.0 0.0 3.63 Liberty Tax Inc 5 4 11.000 10.100 0 0 0.0 0.0 -6.89 Liberty Tripadvisor 32 30 9.425 10.750 0 0 0.0 0.0 14.06 Lifetime Brands Inc 5 5 16.500 12.400 0 0 0.0 0.0 -24.67 Lincoln Edl Svcs Cor 17 16 2.020 1.930 0 0 0.0 0.0 -4.46
42 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Lions Gate Entmnt Co 42 47 33.810 25.830 1 1 0.0 0.0 -23.34 Lions Gate Entmnt Co 63 59 31.740 24.080 2 1 0.0 0.0 -23.85 Lithia Mtrs Inc 21 19 113.590 100.520 2 2 0.0 0.0 -11.28 Live Nation Inc 92 87 42.570 42.140 4 4 0.1 0.1 -1.01 Lkq Corp 117 125 40.670 37.950 5 5 0.1 0.1 -6.69 Lowes Cos Inc 184 174 92.940 87.750 17 15 0.3 0.3 -5.22 Lululemon Athletica 53 50 78.590 89.120 4 4 0.1 0.1 13.40 Lyon William Homes 20 25 29.080 27.490 1 1 0.0 0.0 -5.47 M D C Corp Colo 50 47 31.880 27.920 2 1 0.0 0.0 -11.56 M/I Homes 19 18 34.400 31.850 1 1 0.0 0.0 -7.41 MGM Grand Inc 34 32 33.390 35.020 1 1 0.0 0.0 5.23 Macys Inc. 50 182 25.190 29.740 1 5 0.0 0.1 19.59 Madden Steven Ltd 37 34 46.700 43.900 2 1 0.0 0.0 -5.58 Madison Square Garde 8 8 210.850 245.800 2 2 0.0 0.0 16.58 Malibu Boats Inc 5 5 29.730 33.210 0 0 0.0 0.0 11.71 Marine Prods Corp 6 6 12.740 14.010 0 0 0.0 0.0 10.75 Marinemax Inc 31 29 18.900 19.450 1 1 0.0 0.0 2.91 Mattel Inc 94 89 15.380 13.150 1 1 0.0 0.0 -14.50 McDonalds Corp 80 75 172.120 156.380 14 12 0.3 0.2 -8.56 Meredith Corp 22 20 66.050 53.800 1 1 0.0 0.0 -17.78 Meritage Corp 29 27 51.200 45.250 1 1 0.0 0.0 -11.62 Michael Kors Hldgs L 53 63 62.950 62.080 3 4 0.1 0.1 -1.38
43 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Michaels Cos Inc 97 92 24.190 19.710 2 2 0.0 0.0 -18.52 Modine Mfg Co 14 13 20.200 21.150 0 0 0.0 0.0 4.70 Monro Muffler Brake 13 12 56.950 53.600 1 1 0.0 0.0 -5.57 Motorcar Parts & Acc 5 5 24.990 21.430 0 0 0.0 0.0 -14.25 Movado Group Inc 12 11 32.200 38.400 0 0 0.0 0.0 19.25 Msg Network Inc 30 28 20.250 22.600 1 1 0.0 0.0 11.61 Murphy Usa Inc 24 23 80.360 72.800 2 2 0.0 0.0 -9.41 Nathans Famous Inc N 1 1 75.500 73.900 0 0 0.0 0.0 -2.12 National Amern Univ 10 0 1.400 1.300 0 0 0.0 0.0 -7.14 National Cinemedia I 37 82 6.860 5.190 0 0 0.0 0.0 -22.03 Nautilus Group Inc 15 14 13.350 13.450 0 0 0.0 0.0 0.75 Netflix Com Inc 67 63 191.960 295.350 13 19 0.2 0.4 53.86 New Home Co Inc 4 4 12.530 11.080 0 0 0.0 0.0 -11.57 New Media Invt Group 24 23 16.780 17.140 0 0 0.0 0.0 4.35 New York & Co Inc 20 18 2.860 3.380 0 0 0.0 0.0 18.18 New York Times Co 103 97 18.500 24.100 2 2 0.0 0.0 30.54 Newell Rubbermaid In 31 29 30.900 25.480 1 1 0.0 0.0 -16.84 News Corp New 100 94 16.210 15.800 2 1 0.0 0.0 -1.93 News Corp New 63 59 16.600 16.100 1 1 0.0 0.0 -2.43 Nexstar Broadcasting 47 50 78.200 66.500 4 3 0.1 0.1 -14.53 Nike Inc 0 346 62.550 66.440 0 23 0.0 0.4 NA Nordstrom Inc 47 50 47.380 48.410 2 2 0.0 0.0 2.89
44 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Nutri Sys Inc New 14 13 52.600 26.950 1 0 0.0 0.0 -48.37 Nvr Inc 2 2 3508.220 2800.000 7 6 0.1 0.1 -20.19 O Reilly Automotive 18 27 240.540 247.380 4 7 0.1 0.1 2.84 Office Depot Inc 284 268 3.540 2.150 1 1 0.0 0.0 -38.64 Ollies Bargain Outlt 20 19 53.250 60.300 1 1 0.0 0.0 13.24 Omnicom Group 105 99 72.830 72.670 8 7 0.1 0.1 0.59 Overstock Com Inc De 16 16 63.900 36.250 1 1 0.0 0.0 -43.27 Oxford Inds Inc 12 11 75.190 74.560 1 1 0.0 0.0 -0.51 Papa Johns Intl Inc 13 12 56.110 57.300 1 1 0.0 0.0 2.52 Party City Holdco In 37 35 13.950 15.600 1 1 0.0 0.0 11.83 Peak Resorts Inc 8 7 5.400 4.850 0 0 0.0 0.0 -9.04 Penn Natl Gaming Inc 28 26 31.330 26.260 1 1 0.0 0.0 -16.18 Penske Automotive Gr 53 50 47.850 44.330 3 2 0.0 0.0 -6.71 Petmed Express Inc 13 12 45.500 41.750 1 1 0.0 0.0 -7.71 Pier I Imports Inc 40 38 4.140 3.220 0 0 0.0 0.0 -20.88 Planet Fitness Inc 43 41 34.630 37.770 1 2 0.0 0.0 9.07 Polaris Inds Inc 39 36 123.990 114.520 5 4 0.1 0.1 -7.15 Pool Corporation 16 18 129.650 146.220 2 3 0.0 0.1 13.07 Potbelly Corp 7 7 12.300 12.050 0 0 0.0 0.0 -2.03 Priceline Group Inc 8 0 1737.740 2080.390 14 0 0.3 0.0 19.72 Pulte Homes Corp 144 163 33.250 29.490 5 5 0.1 0.1 -11.03 Pvh Corp 25 24 137.210 151.430 3 4 0.1 0.1 10.39
45 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Ralph Lauren Corp 20 19 103.690 111.800 2 2 0.0 0.0 8.31 Rci Hospitality Hldg 1 1 27.980 28.390 0 0 0.0 0.0 1.57 Reading Internationa 7 6 16.700 16.650 0 0 0.0 0.0 -0.30 Red Lion Hotels Corp 7 7 9.850 9.750 0 0 0.0 0.0 -1.02 Red Robin Gourmet Bu 5 5 56.400 58.000 0 0 0.0 0.0 2.84 Regal Entmt Group 54 0 23.010 NA 1 0 0.0 0.0 NA Rent A Ctr Inc New 21 19 11.100 8.630 0 0 0.0 0.0 -22.25 Ross Stores Inc 87 82 80.250 77.980 7 6 0.1 0.1 -2.54 Ruths Chris Steak Hs 18 17 21.650 24.450 0 0 0.0 0.0 13.43 Saga Communications 2 1 40.450 37.250 0 0 0.0 0.0 -7.19 Salem Communications 4 4 4.500 3.600 0 0 0.0 0.0 -18.70 Sally Beauty Hldgs I 46 44 18.760 16.450 1 1 0.0 0.0 -12.31 Scholastic Corp 18 17 40.110 38.840 1 1 0.0 0.0 -2.79 Scientific Games Cor 22 21 51.300 41.600 1 1 0.0 0.0 -18.91 Scripps E W Co Ohio 57 53 15.630 11.990 1 1 0.0 0.0 -23.01 Scripps Networks Int 57 0 85.380 90.040 5 0 0.1 0.0 5.81 Sequential Brnds Gro 9 8 1.780 2.085 0 0 0.0 0.0 17.13 Servicemaster Global 87 66 51.270 50.850 4 3 0.1 0.1 -0.82 Shake Shack Inc 4 4 43.200 41.630 0 0 0.0 0.0 -3.63 Shiloh Inds Inc 5 5 8.200 8.700 0 0 0.0 0.0 6.10 Shoe Carnival Inc 9 8 26.750 23.800 0 0 0.0 0.0 -10.77 Shutterfly Inc 15 14 49.750 81.250 1 1 0.0 0.0 63.32
46 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Signet Jewelers Limi 33 39 56.550 38.520 2 2 0.0 0.0 -31.48 Sinclair Broadcast G 79 85 37.850 31.300 3 3 0.1 0.1 -16.86 Sirius Xm Hldgs Inc 273 257 5.360 6.240 1 2 0.0 0.0 16.63 Six Flags Entmt Corp 20 26 66.570 62.260 1 2 0.0 0.0 -5.41 Skechers U S A Inc 63 80 37.840 38.890 2 3 0.0 0.1 2.77 Sleep Number Corp 21 20 37.590 35.150 1 1 0.0 0.0 -6.49 Sonic Automotive Inc 7 6 18.450 18.950 0 0 0.0 0.0 3.02 Sonic Corp 15 14 27.480 25.230 0 0 0.0 0.0 -7.58 Sothebys Hldgs Inc 21 20 51.600 51.310 1 1 0.0 0.0 -0.56 Speedway Motorsports 11 11 18.870 17.820 0 0 0.0 0.0 -4.84 Standard Mtr Prods 8 7 44.910 47.570 0 0 0.0 0.0 6.39 Starbucks Corp 187 176 57.430 57.890 11 10 0.2 0.2 1.36 Stein Mart Inc 24 22 1.160 1.520 0 0 0.0 0.0 31.03 Stoneridge Inc 9 9 22.860 27.600 0 0 0.0 0.0 20.73 Sturm Ruger & Co Inc 9 0 55.850 52.500 1 0 0.0 0.0 -5.57 Superior Uniform Grp 4 4 26.710 26.270 0 0 0.0 0.0 -1.26 TJX Cos Inc New 125 128 76.460 81.560 10 10 0.2 0.2 7.11 Tailored Brands Inc 17 16 21.830 25.060 0 0 0.0 0.0 15.75 Tandy Leather Factor 6 6 7.700 7.050 0 0 0.0 0.0 -8.44 Tapestry Inc 104 110 44.230 52.610 5 6 0.1 0.1 19.72 Target Corp 166 156 65.250 69.430 11 11 0.2 0.2 7.31 Taylor Morrison Home 69 84 24.470 23.280 2 2 0.0 0.0 -4.86
47 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Tegna Inc 183 172 14.080 11.390 3 2 0.0 0.0 -18.66 Tempur Pedic Intl In 28 26 62.690 45.290 2 1 0.0 0.0 -27.76 Tenneco Automotive I 20 18 58.540 54.870 1 1 0.0 0.0 -5.84 Tesla Mtrs Inc 10 9 311.350 266.130 3 2 0.1 0.0 -14.52 Texas Roadhouse Inc 30 28 52.680 57.780 2 2 0.0 0.0 10.15 Thor Inds Inc 28 26 150.720 115.170 4 3 0.1 0.1 -23.34 Tiffany & Co New 42 42 103.950 97.660 4 4 0.1 0.1 -5.57 Tile Shop Hldgs Inc 23 22 9.600 6.000 0 0 0.0 0.0 -36.93 Tillys Inc 3 3 14.760 11.300 0 0 0.0 0.0 -17.72 Time Inc New 56 0 18.450 NA 1 0 0.0 0.0 NA Time Warner Inc 200 188 91.470 94.580 18 18 0.4 0.3 3.85 Toll Brothers Inc 68 64 48.020 43.250 3 3 0.1 0.1 -9.79 Topbuild Corp 14 13 75.740 76.520 1 1 0.0 0.0 1.03 Tower Intl Inc 8 8 30.550 27.750 0 0 0.0 0.0 -8.78 Townsquare Media Inc 5 4 7.680 7.930 0 0 0.0 0.0 4.23 Tractor Supply Co 30 28 74.750 63.020 2 2 0.0 0.0 -15.35 Trans World Entmt Co 4 4 1.825 1.250 0 0 0.0 0.0 -31.51 Tri Pointe Homes Inc 123 116 17.920 16.430 2 2 0.0 0.0 -8.31 Tribune Co New 22 20 42.470 40.510 1 1 0.0 0.0 -4.04 Tripadvisor Inc 48 36 34.460 40.890 2 1 0.0 0.0 18.66 Tronc Inc 19 18 17.590 16.420 0 0 0.0 0.0 -6.65 Tuesday Morning Corp 21 19 2.750 3.950 0 0 0.0 0.0 43.64
48 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Tupperware Corp 18 17 62.700 48.380 1 1 0.0 0.0 -21.74 Twenty First Centy F 185 174 34.120 36.370 6 6 0.1 0.1 7.12 Twenty First Centy F 417 393 34.530 36.690 14 14 0.3 0.3 6.77 U.S. Auto Parts Netw 13 12 2.520 2.050 0 0 0.0 0.0 -18.65 Ulta Salon Cosmetcs 19 18 223.660 204.270 4 4 0.1 0.1 -8.67 Under Armour Inc 60 85 14.430 16.350 1 1 0.0 0.0 13.31 Under Armour Inc 83 78 13.320 14.350 1 1 0.0 0.0 7.73 Unifi Inc 9 9 35.870 36.250 0 0 0.0 0.0 1.06 Unique Fabricating I 3 3 7.420 8.440 0 0 0.0 0.0 15.86 Universal Electrs In 6 5 47.250 52.050 0 0 0.0 0.0 10.16 Universal Technical 12 11 2.400 2.940 0 0 0.0 0.0 22.50 Urban Outfitters Inc 56 76 35.060 36.960 2 3 0.0 0.1 5.42 V F Corp 0 72 74.000 74.120 0 5 0.0 0.1 NA Vail Resorts Inc 5 5 212.470 221.700 1 1 0.0 0.0 5.02 Vera Bradley Inc 19 17 12.180 10.610 0 0 0.0 0.0 -12.89 Viacom Inc New -A 12 12 34.900 39.600 0 0 0.0 0.0 14.05 Viacom Inc New -B 212 291 30.810 31.060 7 9 0.1 0.2 1.43 Vista Outdoor Inc 25 0 14.570 16.320 0 0 0.0 0.0 12.01 Visteon Corp 21 20 125.140 110.240 3 2 0.1 0.0 -11.91 Vitamin Shoppe Inc 5 4 4.400 4.350 0 0 0.0 0.0 -1.14 Voxx Intl Corp 10 9 5.600 4.950 0 0 0.0 0.0 -11.61 Wayfair Inc 13 12 80.270 67.530 1 1 0.0 0.0 -15.87
49 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Discretionary (cont.) Wendys Co 131 124 16.420 17.550 2 2 0.0 0.0 7.45 Weyenberg Shoe Mfg 5 5 29.720 33.600 0 0 0.0 0.0 13.83 Whirlpool Corp 31 30 168.640 153.110 5 5 0.1 0.1 -8.59 Wiley John & Sons In 29 35 65.750 63.700 2 2 0.0 0.0 -3.12 Wiley John & Sons In 1 1 65.770 63.680 0 0 0.0 0.0 -2.71 Williams Sonoma Inc 62 58 51.700 52.760 3 3 0.1 0.1 2.79 Wingstop Inc 18 17 38.980 47.230 1 1 0.0 0.0 30.10 Winmark Corp 2 2 129.400 130.800 0 0 0.0 0.0 1.16 Winnebago Inds Inc 13 12 55.600 37.600 1 0 0.0 0.0 -32.25 Wolverine World Wide 55 52 31.880 28.900 2 2 0.0 0.0 -9.10 World Wrestling Entr 14 13 30.580 36.010 0 0 0.0 0.0 18.14 Wyndham Worldwide Co 17 16 115.870 114.430 2 2 0.0 0.0 -0.68 Wynn Resorts Ltd 32 30 168.590 182.360 5 5 0.1 0.1 8.50 Zagg Incorporated 9 9 18.450 12.200 0 0 0.0 0.0 -33.88 Zoes Kitchen Inc 4 4 16.720 14.440 0 0 0.0 0.0 -13.64 Zumiez Inc 14 13 20.825 23.900 0 0 0.0 0.0 14.77 910 937 17.4 18.0 1.14 Consumer Staples Alico Inc 2 2 29.500 27.200 0 0 0.0 0.0 -7.59 Amplify Snack Brands 53 0 12.010 NA 1 0 0.0 0.0 NA Andersons Inc 13 26 31.150 33.100 0 1 0.0 0.0 6.79 Avon Prods Inc 271 255 2.150 2.840 1 1 0.0 0.0 32.09
50 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Staples (cont.) B & G Foods Inc New 20 19 35.150 23.700 1 0 0.0 0.0 -31.28 Blue Buffalo Pet Pro 64 72 32.790 39.810 2 3 0.0 0.1 21.41 Bob Evans Farms Inc 8 0 78.820 NA 1 0 0.0 0.0 NA Boston Beer Inc 4 4 191.100 189.050 1 1 0.0 0.0 -1.07 Brown Forman Dst 'a' 21 20 67.240 53.330 1 1 0.0 0.0 1.84 Brown Forman Dst 'b' 81 82 68.670 54.400 6 4 0.1 0.1 1.13 Calavo Growers Inc 5 9 84.400 92.200 0 1 0.0 0.0 9.24 Campbell Soup Co 35 33 48.110 43.310 2 1 0.0 0.0 -9.31 Caseys Gen Stores 25 23 111.940 109.770 3 3 0.1 0.0 -1.73 Central Garden & Pet 18 23 37.710 39.610 1 1 0.0 0.0 5.04 Central Garden & Pet 4 14 38.920 43.000 0 1 0.0 0.0 10.48 Chefs Whse Inc 17 16 20.500 23.000 0 0 0.0 0.0 12.20 Church & Dwight Inc 67 63 50.170 50.360 3 3 0.1 0.1 0.83 Clorox Co 39 37 148.740 133.110 6 5 0.1 0.1 -9.98 Coca Cola Bottlng Co 6 6 215.260 172.670 1 1 0.0 0.0 -19.69 Coca Cola Co 398 375 45.880 43.430 18 16 0.3 0.3 -4.50 Colgate Palmolive Co 126 124 75.450 71.680 10 9 0.2 0.2 -4.51 Constellation Brands 31 29 228.570 227.920 7 7 0.1 0.1 -0.04 Costco Whsl Corp New 112 123 186.120 188.430 21 23 0.4 0.4 1.51 Coty Inc 261 286 19.890 18.300 5 5 0.1 0.1 -7.41 Craft Brewers Allian 8 7 19.200 18.600 0 0 0.0 0.0 -3.12 Cvs Corp 336 317 72.500 62.210 24 20 0.5 0.4 -13.66
51 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Staples (cont.) Darling Intl Inc 54 50 18.130 17.300 1 1 0.0 0.0 -4.58 Dr Pepper Snapple Gr 57 53 97.060 118.380 6 6 0.1 0.1 22.56 Energizer Hldgs Inc 29 27 47.980 59.580 1 2 0.0 0.0 24.85 Estee Lauder Co. Inc 67 66 127.240 149.720 9 10 0.2 0.2 17.99 Farmer Bros Co 4 12 32.150 30.200 0 0 0.0 0.0 -6.07 Flowers Foods Inc 70 66 19.310 21.860 1 1 0.0 0.0 14.15 Fresh Del Monte Prod 0 8 47.670 45.240 0 0 0.0 0.0 NA General Mls Inc 108 120 59.290 45.060 6 5 0.1 0.1 -23.37 Hain Celestial Group 47 44 42.390 32.070 2 1 0.0 0.0 -24.35 Herbalife Ltd 43 41 67.720 97.470 3 4 0.1 0.1 43.93 Hostess Brands Inc 13 12 14.810 14.790 0 0 0.0 0.0 -0.14 Hrg Group Inc 137 129 16.950 16.490 2 2 0.0 0.0 -2.71 Ingles Mkts Inc 7 7 34.600 33.850 0 0 0.0 0.0 -1.69 Inter Parfums Inc 24 22 43.450 47.150 1 1 0.0 0.0 9.00 J & J Snack Foods Co 5 7 151.830 136.560 1 1 0.0 0.0 -9.77 Kraft Heinz Co 62 86 77.760 62.290 5 5 0.1 0.1 -19.15 Kroger Co 329 450 27.450 23.940 9 11 0.2 0.2 -12.40 Lamb Weston Hldgs In 23 29 56.450 58.220 1 2 0.0 0.0 3.48 Lancaster Colony Cor 8 12 129.210 123.140 1 1 0.0 0.0 -4.23 Landec Corp 7 6 12.600 13.050 0 0 0.0 0.0 3.57 Lifeway Foods Inc 4 4 8.000 5.990 0 0 0.0 0.0 -25.13 Limoneira Co 4 4 22.400 23.730 0 0 0.0 0.0 5.94
52 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Staples (cont.) McCormick & Co Inc 1 1 100.500 106.520 0 0 0.0 0.0 5.99 McCormick & Co Inc 40 41 101.910 106.390 4 4 0.1 0.1 4.40 Medifast Inc 10 9 69.810 93.450 1 1 0.0 0.0 34.57 Molson Coors Brewing 98 103 82.070 75.330 8 8 0.2 0.1 -7.73 Monster Beverage Cor 58 61 63.290 57.210 4 3 0.1 0.1 -9.61 National Beverage Co 10 9 97.440 89.020 1 1 0.0 0.0 -8.64 Natural Alternatives 4 4 10.325 11.000 0 0 0.0 0.0 6.54 Natural Grocers By V 10 9 8.930 7.160 0 0 0.0 0.0 -19.82 Natural Health Trend 1 1 15.190 19.010 0 0 0.0 0.0 26.09 Natures Sunshine Pro 2 2 11.550 11.000 0 0 0.0 0.0 -4.76 Nu Skin Enterprises 47 44 68.230 73.710 3 3 0.1 0.1 8.58 Oil Dri Corp Amer 2 2 41.500 40.190 0 0 0.0 0.0 -2.58 Orchids Paper Prods 4 4 12.800 8.150 0 0 0.0 0.0 -36.33 Pepsico Inc 262 279 119.920 109.150 31 30 0.6 0.6 -8.30 Performance Food Gro 82 77 33.100 29.850 3 2 0.1 0.0 -9.82 Pinnacle Foods Inc D 17 55 59.470 54.100 1 3 0.0 0.1 -8.50 Post Hldgs Inc 25 23 79.230 75.760 2 2 0.0 0.0 -4.38 Pricesmart Inc 13 12 86.100 83.550 1 1 0.0 0.0 -2.53 Primo Wtr Corp 9 9 12.570 11.710 0 0 0.0 0.0 -6.84 Procter & Gamble Co 311 293 91.880 79.280 29 23 0.5 0.4 -13.05 Revlon Inc 25 24 21.800 20.600 1 0 0.0 0.0 -5.50 Rite Aid Corp 77 72 1.970 1.680 0 0 0.0 0.0 -14.72
53 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Staples (cont.) Rocky Mtn Chocolate 4 4 11.800 12.030 0 0 0.0 0.0 2.96 S&W Seed Co 12 11 3.900 3.600 0 0 0.0 0.0 -7.69 Sanfilippo John B & 2 2 63.250 57.870 0 0 0.0 0.0 -8.51 Seneca Foods Corp Ne 2 2 30.750 27.700 0 0 0.0 0.0 -9.92 Smart & Final Stores 26 24 8.550 5.550 0 0 0.0 0.0 -35.09 Smucker J M Co 37 35 124.240 124.010 5 4 0.1 0.1 0.47 Snyders-Lance Inc 21 0 50.080 49.980 1 0 0.0 0.0 0.12 Spartannash Co 18 17 26.680 17.210 0 0 0.0 0.0 -34.85 Spectrum Brands Hldg 6 24 112.400 103.700 1 2 0.0 0.0 -7.36 Sprouts Fmrs Mkt Inc 78 73 24.350 23.470 2 2 0.0 0.0 -3.61 Supervalu Inc 20 18 21.600 15.230 0 0 0.0 0.0 -29.49 Sysco Corp 128 121 60.730 59.960 8 7 0.1 0.1 -0.68 Tootsie Roll Inds In 6 6 36.400 29.450 0 0 0.0 0.0 -16.43 Treehouse Foods Inc 12 11 49.460 38.270 1 0 0.0 0.0 -22.62 US Foods Hldg Corp 123 116 31.930 32.770 4 4 0.1 0.1 2.63 United Guardian Inc 7 7 18.500 17.600 0 0 0.0 0.0 -4.86 United Nat Foods Inc 35 33 49.270 42.940 2 1 0.0 0.0 -12.85 Usana Inc 21 19 74.050 85.900 2 2 0.0 0.0 16.00 Village Super Mkt In 5 5 22.930 26.370 0 0 0.0 0.0 16.25 Wal Mart Stores Inc 388 382 98.750 88.970 38 34 0.7 0.7 -9.37 Walgreens Boots Alli 201 189 72.620 65.470 15 12 0.3 0.2 -9.32 Weis Mkts Inc 13 12 41.390 40.980 1 0 0.0 0.0 -0.22
54 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Consumer Staples (cont.) Willamette Vy Vineya 2 2 8.330 7.860 0 0 0.0 0.0 -5.64 333 317 6.4 6.1 -5.24 Health Care Abaxis Inc 9 9 49.520 70.620 0 1 0.0 0.0 42.95 Abbott Labs 10 0 57.070 59.920 1 0 0.0 0.0 5.49 Abbvie Inc 349 347 96.710 94.650 34 33 0.6 0.6 -1.43 Abiomed Inc 9 9 187.410 290.990 2 3 0.0 0.1 55.27 Accuray Inc 26 25 4.300 5.000 0 0 0.0 0.0 16.28 Aceto Chem Inc 10 10 10.330 7.600 0 0 0.0 0.0 -25.78 Achillion Pharmaceut 66 62 2.880 3.710 0 0 0.0 0.0 28.82 Acorda Therapeutics 47 45 21.450 23.650 1 1 0.0 0.0 10.26 Adamas Pharmaceutica 7 0 33.890 23.900 0 0 0.0 0.0 -29.48 Addus Homecare Corp 4 4 34.800 48.650 0 0 0.0 0.0 39.80 Adverum Biotechnolog 15 14 3.500 5.800 0 0 0.0 0.0 65.71 Aetna Inc 94 88 180.390 169.000 17 15 0.3 0.3 -6.06 Affimed Therapeutics 37 35 1.300 1.850 0 0 0.0 0.0 42.31 Agilent Technologies 61 46 66.970 66.900 4 3 0.1 0.1 -0.10 Agios Pharmaceutical 0 5 57.170 81.780 0 0 0.0 0.0 NA Akorn Inc 32 30 32.230 18.710 1 1 0.0 0.0 -41.95 Alexion Pharmaceutic 29 27 119.590 111.460 3 3 0.1 0.1 -6.80 Align Technology Inc 19 18 222.190 251.130 4 5 0.1 0.1 13.02 Alkermes Plc 13 13 54.730 57.960 1 1 0.0 0.0 5.90
55 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Allergan Plc 64 60 163.580 168.290 10 10 0.2 0.2 3.34 Allscripts Healthcar 87 82 14.550 12.350 1 1 0.0 0.0 -15.12 Almost Family Inc 11 10 55.350 56.000 1 1 0.0 0.0 1.17 Alnylam Pharmaceutic 12 11 127.050 119.100 2 1 0.0 0.0 -6.26 Amag Pharmaceuticals 6 6 13.250 20.150 0 0 0.0 0.0 52.08 Amedisys Inc 9 9 52.710 60.340 0 1 0.0 0.0 14.48 Amerisourcebergen Co 109 103 91.820 86.210 10 9 0.2 0.2 -5.75 Amgen 114 138 173.900 170.480 20 24 0.4 0.5 -1.25 Amicus Therapeutics 56 0 14.390 15.040 1 0 0.0 0.0 4.52 Amn Healthcare Servi 50 47 49.250 56.750 2 3 0.0 0.1 15.23 Amphastar Pharmaceut 12 11 19.240 18.750 0 0 0.0 0.0 -2.55 Analogic Corp 6 5 83.750 95.900 1 0 0.0 0.0 14.63 Angiodynamics Inc 29 27 16.630 17.250 0 0 0.0 0.0 3.73 Ani Pharmaceuticals 2 2 64.450 58.220 0 0 0.0 0.0 -9.67 Anika Therapeutics I 7 11 53.910 49.720 0 1 0.0 0.0 -7.77 Anthem Inc 73 69 225.010 219.700 16 15 0.3 0.3 -2.04 Aptevo Therapeutics 8 8 4.240 3.270 0 0 0.0 0.0 -22.88 Aratana Therapeutics 9 8 5.260 4.410 0 0 0.0 0.0 -16.16 Arrowhead Pharmaceut 52 49 3.680 7.210 0 0 0.0 0.0 95.92 Athenahealth Inc 12 11 133.040 143.030 2 2 0.0 0.0 7.51 Atrion Corp 1 1 630.600 631.300 1 1 0.0 0.0 0.31 Atyr Pharma Inc 12 11 3.500 2.650 0 0 0.0 0.0 -24.29
56 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Avexis Inc 0 3 110.670 123.580 0 0 0.0 0.0 NA Becton Dickinson 32 30 214.060 216.700 7 7 0.1 0.1 1.57 Bio Rad Labs Inc 11 7 238.670 250.080 3 2 0.1 0.0 4.78 Bio Techne Corp 13 12 129.550 151.040 2 2 0.0 0.0 16.85 Biogen Idec Inc 46 43 318.570 273.820 15 12 0.3 0.2 -14.05 Biomarin Pharmaceuti 19 23 89.170 81.070 2 2 0.0 0.0 -9.08 Biospecifics Technol 4 3 43.330 44.340 0 0 0.0 0.0 2.33 Biotelemetry Inc 11 11 29.900 31.050 0 0 0.0 0.0 3.85 Bioverativ Inc 52 0 53.920 104.980 3 0 0.1 0.0 94.70 Bluebird Bio Inc 11 10 178.100 170.750 2 2 0.0 0.0 -4.13 Boston Scientific Co 157 165 24.790 27.320 4 5 0.1 0.1 10.21 Bristol Myers Squibb 283 260 61.280 63.250 17 16 0.3 0.3 3.88 Bruker Biosciences C 79 86 34.320 29.920 3 3 0.1 0.0 -12.70 Cambrex Corp 11 11 48.000 52.300 1 1 0.0 0.0 8.96 Cantel Inc 19 21 102.870 111.410 2 2 0.0 0.0 8.38 Cardinal Health Inc 122 123 61.270 62.680 7 8 0.1 0.1 3.06 Catalent Inc 59 55 41.080 41.060 2 2 0.0 0.0 -0.05 Celgene Corp 166 157 104.360 89.210 17 14 0.3 0.3 -14.52 Celldex Therapeutics 16 15 2.840 2.330 0 0 0.0 0.0 -17.96 Centene Corp Del 81 77 100.880 106.870 8 8 0.2 0.2 5.94 Cerner Corp 52 104 67.390 58.000 4 6 0.1 0.1 -13.93 Charles Riv Labs Int 27 25 109.450 106.740 3 3 0.1 0.1 -2.48
57 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Chemed Corp New 10 9 243.020 272.860 2 2 0.0 0.0 12.40 Chimerix Inc 24 23 4.630 5.200 0 0 0.0 0.0 12.31 Cidara Therapeutics 7 6 6.800 4.000 0 0 0.0 0.0 -41.18 Cigna Corp 64 61 203.090 167.740 13 10 0.2 0.2 -17.39 Civitas Solutions In 13 12 17.100 15.400 0 0 0.0 0.0 -9.94 Computer Programs & 1 1 30.050 29.200 0 0 0.0 0.0 -2.51 Concert Pharmaceutic 3 3 25.870 22.900 0 0 0.0 0.0 -11.48 Conmed Corp 11 11 50.970 63.330 1 1 0.0 0.0 24.63 Cooper Cos Inc 11 12 217.880 228.810 2 3 0.0 0.1 5.03 Corcept Therapeutics 24 23 18.060 16.450 0 0 0.0 0.0 -8.91 Corvel Corp 19 18 52.900 50.550 1 1 0.0 0.0 -4.44 Cotiviti Hldgs Inc 32 42 32.210 34.440 1 1 0.0 0.0 6.92 Cross Ctry Healthcar 7 7 12.760 11.110 0 0 0.0 0.0 -12.93 Cryolife Inc 14 13 19.150 20.050 0 0 0.0 0.0 4.70 Cumberland Pharmaceu 7 7 7.420 6.680 0 0 0.0 0.0 -9.97 Danaher Corp 106 91 92.820 97.910 10 9 0.2 0.2 5.66 Davita Inc 115 108 72.250 65.940 8 7 0.2 0.1 -8.73 Dentsply Sirona Inc 30 51 65.830 50.310 2 3 0.0 0.0 -23.44 Depomed Inc 5 5 8.050 6.590 0 0 0.0 0.0 -18.14 Dexcom Inc 6 6 57.390 74.160 0 0 0.0 0.0 29.22 Digigrad Corp 6 6 2.575 1.550 0 0 0.0 0.0 -38.33 Diplomat Pharmacy In 11 11 20.070 20.150 0 0 0.0 0.0 0.40
58 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Eagle Pharmaceutical 9 8 53.420 52.690 0 0 0.0 0.0 -1.37 Edwards Lifesciences 35 33 112.710 139.520 4 5 0.1 0.1 23.79 Electromed Inc 17 16 6.070 5.360 0 0 0.0 0.0 -11.70 Emergent Biosolution 22 30 46.470 52.650 1 2 0.0 0.0 13.30 Enanta Pharmaceutica 5 4 58.680 80.910 0 0 0.0 0.0 37.88 Endo Intl Plc 47 44 7.750 5.940 0 0 0.0 0.0 -23.35 Envision Healthcare 21 19 34.560 38.430 1 1 0.0 0.0 11.20 Enzo Biochem Inc 26 6 8.150 5.480 0 0 0.0 0.0 -32.76 Evolent Health Inc 36 34 12.300 14.250 0 0 0.0 0.0 15.85 Exact Sciences Corp 24 33 52.540 40.330 1 1 0.0 0.0 -23.24 Exactech Inc 7 0 49.450 NA 0 0 0.0 0.0 NA Exelixis Inc 43 41 30.400 22.150 1 1 0.0 0.0 -27.14 Express Scripts Hldg 241 227 74.640 69.080 18 16 0.3 0.3 -7.45 Fibrogen Inc 5 0 47.400 46.200 0 0 0.0 0.0 -2.53 Five Prime Therapeut 17 16 21.920 17.180 0 0 0.0 0.0 -21.62 Fonar Corp 3 3 24.350 29.800 0 0 0.0 0.0 22.38 Gilead Sciences Inc 314 317 71.640 75.390 22 24 0.4 0.5 5.99 Globus Med Inc 42 40 41.100 49.820 2 2 0.0 0.0 21.22 Haemonetics Corp 18 16 58.080 73.160 1 1 0.0 0.0 25.96 Halozyme Therapeutic 0 45 20.260 19.590 0 1 0.0 0.0 NA Harvard Bioscience I 14 13 3.300 5.000 0 0 0.0 0.0 51.52 Healthequity Inc 21 27 46.660 60.540 1 2 0.0 0.0 29.75
59 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Healthstream Inc 20 18 23.160 24.830 0 0 0.0 0.0 11.65 Heska Corp 5 4 80.210 79.070 0 0 0.0 0.0 -1.42 Hill Rom Hldgs Inc 32 31 84.290 87.000 3 3 0.1 0.1 3.46 Hms Hldgs Corp 56 53 16.950 16.840 1 1 0.0 0.0 -0.65 Hologic Inc 99 185 42.750 37.360 4 7 0.1 0.1 -12.61 Horizon Pharma Plc 39 36 14.600 14.200 1 1 0.0 0.0 -2.74 Humana Inc 36 35 248.070 268.830 9 9 0.2 0.2 8.57 ICU Med Inc 5 5 216.000 252.400 1 1 0.0 0.0 16.85 Idexx Labs Inc 24 22 156.380 191.390 4 4 0.1 0.1 22.39 Illumina Inc 16 17 218.490 236.420 3 4 0.1 0.1 8.21 Immune Design Corp 20 19 3.900 3.300 0 0 0.0 0.0 -15.38 Impax Laboratories I 13 12 16.650 19.450 0 0 0.0 0.0 16.82 Inc Resh Hldgs Inc 51 0 43.600 35.500 2 0 0.0 0.0 -18.58 Incyte Pharmaceutica 11 10 94.710 83.330 1 1 0.0 0.0 -12.02 Innoviva Inc 42 40 14.190 16.670 1 1 0.0 0.0 17.48 Inogen Inc 5 7 119.080 122.840 1 1 0.0 0.0 3.16 Inovalon Hldgs Inc 16 15 15.000 10.600 0 0 0.0 0.0 -29.33 Insulet Corp 7 12 69.000 86.680 0 1 0.0 0.0 25.62 Integer Hldgs Corp 16 17 45.300 56.550 1 1 0.0 0.0 24.83 Integra Lifesciences 24 23 47.860 55.340 1 1 0.0 0.0 15.63 Intra Cellular Thera 10 10 14.480 21.050 0 0 0.0 0.0 45.37 Intuitive Surgical I 14 13 364.940 412.830 5 5 0.1 0.1 13.12
60 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Invacare Corp 16 15 16.850 17.400 0 0 0.0 0.0 3.34 Ionis Pharmaceutical 21 20 50.300 44.080 1 1 0.0 0.0 -12.37 Iqvia Hldgs Inc 48 56 97.900 98.110 5 5 0.1 0.1 0.21 Jazz Pharmaceuticals 10 13 134.650 150.990 1 2 0.0 0.0 12.14 Johnson & Johnson 401 493 139.720 128.150 56 63 1.1 1.2 -7.70 Juno Therapeutics In 33 0 45.710 0.010 2 0 0.0 0.0 89.83 Karyopharm Therapeut 15 14 9.600 13.420 0 0 0.0 0.0 39.79 Kewaunee Scientific 2 2 29.000 34.050 0 0 0.0 0.0 18.10 Kindred Biosciences 7 7 9.450 8.650 0 0 0.0 0.0 -8.47 Laboratory Corp Amer 40 40 159.510 161.750 6 6 0.1 0.1 1.40 Lannet Inc 2 2 23.200 16.050 0 0 0.0 0.0 -30.82 Lantheus Hldgs Inc 18 17 20.450 15.900 0 0 0.0 0.0 -22.25 Lemaitre Vascular In 5 5 31.840 36.230 0 0 0.0 0.0 14.01 Lhc Group Inc 7 7 61.250 61.560 0 0 0.0 0.0 0.51 Lipocine Inc New 5 5 3.440 1.530 0 0 0.0 0.0 -55.52 Livanova Plc 20 19 79.920 88.500 2 2 0.0 0.0 10.74 Luminex Corp Del 7 13 19.700 21.070 0 0 0.0 0.0 7.26 Macrogenics Inc 12 11 19.000 25.160 0 0 0.0 0.0 32.42 Magellan Health Svcs 18 17 96.550 107.100 2 2 0.0 0.0 10.93 Mallinckrodt Pub Ltd 14 13 22.560 14.480 0 0 0.0 0.0 -35.82 Masimo Corp 25 24 84.800 87.950 2 2 0.0 0.0 3.71 McKesson Hboc Inc 70 69 155.950 140.870 11 10 0.2 0.2 -9.46
61 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Medidata Solutions I 11 11 63.370 62.810 1 1 0.0 0.0 -0.88 Mednax Inc 29 51 53.440 55.630 2 3 0.0 0.1 4.10 Medpace Hldgs Inc 0 7 36.260 34.910 0 0 0.0 0.0 NA Medtronic Plc 163 159 80.750 80.220 13 13 0.3 0.2 -0.07 Merck & Co Inc New 212 200 56.270 54.470 12 11 0.2 0.2 -2.35 Meridian Bioscience 18 17 14.000 14.200 0 0 0.0 0.0 2.26 Merit Med Sys Inc 23 22 43.200 45.350 1 1 0.0 0.0 4.98 Mettler Toledo Inter 7 6 619.520 575.030 4 3 0.1 0.1 -7.18 Mirati Therapeutics 8 7 18.250 30.700 0 0 0.0 0.0 68.22 Molina Healthcare In 32 38 76.680 81.180 2 3 0.0 0.1 5.87 Mylan N V 73 69 42.310 41.170 3 3 0.1 0.1 -2.69 Myriad Genetics Inc 19 18 34.345 29.550 1 1 0.0 0.0 -13.96 National Resh Corp 3 3 37.300 29.250 0 0 0.0 0.0 -21.31 National Resh Corp 1 1 56.870 48.500 0 0 0.0 0.0 -13.64 Natus Medical Inc De 16 15 38.200 33.650 1 1 0.0 0.0 -11.91 Nektar Therapeutics 0 4 59.720 106.260 0 0 0.0 0.0 NA Neogen Corp 12 11 82.210 66.990 1 1 0.0 0.0 8.65 Neogenomics Inc 25 24 8.860 8.160 0 0 0.0 0.0 -7.90 Neurocrine Bioscienc 8 8 77.590 82.930 1 1 0.0 0.0 6.88 Newlink Genetics Cor 8 8 8.110 7.250 0 0 0.0 0.0 -10.60 Nuvasive Inc 15 14 58.490 52.210 1 1 0.0 0.0 -10.74 Nuvectra Corp 3 3 7.760 13.020 0 0 0.0 0.0 67.78
62 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Omnicell Inc 14 13 48.500 43.400 1 1 0.0 0.0 -10.52 Opko Health Inc 223 210 4.900 3.170 1 1 0.0 0.0 -35.31 Orasure Technologies 15 14 18.860 16.890 0 0 0.0 0.0 -10.45 Orthofix Intl N V 6 6 54.700 58.780 0 0 0.0 0.0 7.46 Otonomy Inc 14 13 5.550 4.200 0 0 0.0 0.0 -24.32 Owens & Minor Inc Ne 28 27 18.880 15.550 1 0 0.0 0.0 -16.36 Patterson Companies 46 43 36.130 22.230 2 1 0.0 0.0 -38.04 Pdl Biopharma Inc 72 68 2.740 2.940 0 0 0.0 0.0 7.30 Perkinelmer Inc 28 26 73.120 75.720 2 2 0.0 0.0 3.65 Perrigo Co Pcl 22 21 87.160 83.340 2 2 0.0 0.0 -4.15 Pfenex Inc 9 9 2.660 6.000 0 0 0.0 0.0 125.56 Pfizer Inc 654 701 36.220 35.490 24 25 0.5 0.5 -1.11 Phibro Animal Health 4 3 33.500 39.700 0 0 0.0 0.0 18.81 Pra Health Sciences 32 34 91.070 82.960 3 3 0.1 0.1 -8.91 Premier Inc 27 39 29.190 31.310 1 1 0.0 0.0 7.26 Prestige Brands Hldg 15 14 44.410 33.720 1 0 0.0 0.0 -24.07 Providence Svc Corp 7 6 59.340 69.140 0 0 0.0 0.0 16.51 Psychemedics Corp 2 2 20.560 20.680 0 0 0.0 0.0 1.34 Quality Sys Inc 20 19 13.580 13.650 0 0 0.0 0.0 0.52 Quest Diagnostics In 50 47 98.490 100.300 5 5 0.1 0.1 2.30 Quidel Corp 9 9 43.350 51.810 0 0 0.0 0.0 19.52 Quorum Health Corp 15 14 6.240 8.180 0 0 0.0 0.0 31.09
63 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) R1 Rcm Inc 0 21 4.410 7.140 0 0 0.0 0.0 NA Radnet Inc 17 16 10.100 14.400 0 0 0.0 0.0 42.57 Regeneron Pharmaceut 12 11 375.960 344.360 5 4 0.1 0.1 -8.41 Repligen Corp 1 11 36.280 36.180 0 0 0.0 0.0 -0.28 Resmed Inc 34 32 84.690 98.470 3 3 0.1 0.1 16.71 Retrophin Inc 14 13 21.070 22.360 0 0 0.0 0.0 6.12 Rti Biologics Inc 32 30 4.100 4.600 0 0 0.0 0.0 12.20 Sage Therapeutics In 0 3 164.710 161.070 0 0 0.0 0.0 NA Sangamo Biosciences 26 24 16.400 19.000 0 0 0.0 0.0 15.85 Schein Henry Inc 31 29 69.880 67.210 2 2 0.0 0.0 -3.82 Seaspine Hldgs Corp 1 1 10.120 10.140 0 0 0.0 0.0 0.20 Seattle Genetics Inc 14 13 53.500 52.340 1 1 0.0 0.0 -2.17 Simulations Plus Inc 9 9 16.100 14.750 0 0 0.0 0.0 -8.04 Sonoma Pharmaceutica 7 0 5.490 3.680 0 0 0.0 0.0 -32.97 Spectrum Pharmaceuti 39 36 18.950 16.090 1 1 0.0 0.0 -15.09 Stemline Therapeutic 11 10 15.600 15.300 0 0 0.0 0.0 -1.92 Steris Plc 20 19 87.470 93.360 2 2 0.0 0.0 7.09 Stryker Corp 55 56 154.840 160.920 9 9 0.2 0.2 4.24 Sucampo Pharmaceutic 12 0 17.950 NA 0 0 0.0 0.0 NA Supernus Pharmaceuti 8 18 39.850 45.800 0 1 0.0 0.0 14.93 Surmodics Inc 5 5 28.000 38.050 0 0 0.0 0.0 35.89 Syneos Health Inc 0 48 43.600 35.500 0 2 0.0 0.0 NA
64 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Taro Pharmaceutical 12 13 104.710 98.740 1 1 0.0 0.0 -5.70 Teleflex Inc 11 10 248.820 254.980 3 3 0.1 0.0 2.62 Tesaro Inc 5 0 82.870 57.140 0 0 0.0 0.0 -31.05 Tetraphase Pharmaceu 22 21 6.300 3.070 0 0 0.0 0.0 -51.27 Thermo Fisher Scient 60 60 189.880 206.460 11 12 0.2 0.2 8.82 Tivity Health Inc 18 17 36.550 39.650 1 1 0.0 0.0 8.48 Triple-S Mgmt Corp 9 8 24.850 26.140 0 0 0.0 0.0 5.19 U S Physical Therapy 5 5 72.200 81.300 0 0 0.0 0.0 12.92 United Therapeutics 29 28 147.950 112.360 4 3 0.1 0.1 -24.06 Unitedhealth Group I 281 265 220.460 214.000 62 57 1.2 1.1 -2.61 Utah Med Prods Inc 2 2 81.400 98.850 0 0 0.0 0.0 21.79 Varex Imaging Corp 10 11 40.170 35.780 0 0 0.0 0.0 -10.93 Varian Med Sys Inc 24 23 111.150 122.650 3 3 0.1 0.1 10.35 Veeva Sys Inc 14 16 55.280 73.020 1 1 0.0 0.0 32.09 Vertex Pharmaceutica 28 26 149.860 162.980 4 4 0.1 0.1 8.75 Vital Therapies Inc 9 8 5.950 6.800 0 0 0.0 0.0 14.29 Voyager Therapeutics 4 4 16.600 18.790 0 0 0.0 0.0 13.19 Waters Corp 17 16 193.190 198.650 3 3 0.1 0.1 2.83 Wellcare Group Inc 28 25 201.110 193.630 6 5 0.1 0.1 -3.72 West Pharmaceutical 11 11 98.670 88.290 1 1 0.0 0.0 -10.39 Xencor Inc 15 14 21.920 29.980 0 0 0.0 0.0 36.77 Zafgen Inc 12 11 4.620 7.450 0 0 0.0 0.0 61.26
65 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Health Care (cont.) Zimmer Hldgs Inc 31 38 120.670 109.040 4 4 0.1 0.1 -9.44 Zogenix Inc 15 15 40.050 40.050 1 1 0.0 0.0 -0.00 681 672 13.0 12.9 -0.82 Financials 1347 Ppty Ins Hldgs 8 7 7.300 7.150 0 0 0.0 0.0 -2.05 1st Constitution Ban 5 4 18.450 21.600 0 0 0.0 0.0 17.44 1st Source Corp 14 13 49.450 50.620 1 1 0.0 0.0 2.80 A Mark Precious Meta 3 3 14.710 12.250 0 0 0.0 0.0 -16.12 Access Natl Corp 9 9 27.840 28.530 0 0 0.0 0.0 3.02 Acnb Corp 3 3 29.550 29.250 0 0 0.0 0.0 -0.31 Affiliated Managers 23 22 205.250 189.580 5 4 0.1 0.1 -7.49 Aflac Inc 216 204 87.780 43.760 19 9 0.4 0.2 0.29 Alleghany Corp 4 6 596.090 614.440 2 4 0.0 0.1 4.81 Allegiance Bancshare 5 5 37.650 39.150 0 0 0.0 0.0 3.98 Allstate Corp 75 71 104.710 94.800 8 7 0.2 0.1 -9.01 Ally Finl Inc 313 310 29.160 27.150 9 8 0.2 0.2 -6.49 Ambac Finl Group Inc 20 19 15.980 15.680 0 0 0.0 0.0 -1.88 American Eqty Invt L 80 75 30.730 29.360 2 2 0.0 0.0 -4.46 American Express Co 181 171 99.310 93.280 18 16 0.3 0.3 -5.75 American Finl Group 38 36 108.540 112.220 4 4 0.1 0.1 3.72 American Intl Group 248 226 59.580 54.420 15 12 0.3 0.2 -8.13 American Natl Banksh 5 5 38.300 37.600 0 0 0.0 0.0 -1.15
66 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) American Natl Ins Co 11 10 128.250 116.960 1 1 0.0 0.0 -8.16 American Riv Hldgs 3 3 15.250 15.510 0 0 0.0 0.0 2.04 Ameriprise Finl Inc 46 43 169.470 147.940 8 6 0.1 0.1 -12.25 Ameris Bancorp 15 19 48.200 52.900 1 1 0.0 0.0 9.96 Amerisafe Inc 11 10 61.600 55.250 1 1 0.0 0.0 -9.96 Ameriserv Finl Inc 12 12 4.150 4.000 0 0 0.0 0.0 -3.26 Amtrust Financial Se 103 97 10.070 12.310 1 1 0.0 0.0 23.93 Anchor Bancorp Wa 1 1 24.800 24.500 0 0 0.0 0.0 -1.21 Aon Plc 69 35 134.000 140.330 9 5 0.2 0.1 4.99 Arch Cap Group Ltd 32 36 90.770 85.590 3 3 0.1 0.1 -5.71 Argo Group Intl Hldg 20 19 61.650 57.400 1 1 0.0 0.0 7.61 Arrow Finl Corp 7 6 33.950 33.950 0 0 0.0 0.0 0.78 Artisan Partners Ass 38 36 39.500 33.300 2 1 0.0 0.0 -12.18 Aspen Insurance Hold 32 30 40.600 44.850 1 1 0.0 0.0 11.19 Associated Banc Corp 76 82 25.400 24.850 2 2 0.0 0.0 -1.57 Assurant Inc 35 33 100.840 91.410 4 3 0.1 0.1 -8.78 Assured Guaranty Ltd 94 89 33.870 36.200 3 3 0.1 0.1 7.37 Athene Hldg Ltd 0 13 51.710 47.810 0 1 0.0 0.0 NA Atlantic Cap Bancsha 12 11 17.600 18.100 0 0 0.0 0.0 2.84 Atlantic Coast Finl 6 5 9.430 10.300 0 0 0.0 0.0 9.23 Atlas Financial Hold 4 4 20.550 10.350 0 0 0.0 0.0 -49.63 Auburn Natl Bancorp 2 2 39.340 38.260 0 0 0.0 0.0 -2.09
67 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Axis Capital Holding 49 46 50.260 57.570 2 3 0.0 0.1 15.32 Baldwin & Lyons Inc 7 7 23.950 22.000 0 0 0.0 0.0 -7.01 Baldwin & Lyons Inc 4 4 24.250 22.260 0 0 0.0 0.0 -7.12 Banc Calif Inc 20 19 20.650 19.300 0 0 0.0 0.0 -5.96 Bancfirst Corp 16 15 51.150 53.100 1 1 0.0 0.0 4.22 Bancorp Inc Del 44 41 9.880 10.800 0 0 0.0 0.0 9.31 Bancorp New Jersey I 3 3 18.250 16.650 0 0 0.0 0.0 -8.77 Bancorpsouth Bk Tupe 40 55 31.450 31.800 1 2 0.0 0.0 1.54 Bank Amer Corp 1,041 981 29.520 29.990 31 29 0.6 0.6 1.98 Bank Comm Hldgs 4 4 11.500 11.650 0 0 0.0 0.0 1.30 Bank Hawaii Corp 23 26 85.700 83.100 2 2 0.0 0.0 -2.43 Bank Mutual Corp New 26 0 10.650 NA 0 0 0.0 0.0 NA Bank South Carolina 2 2 19.300 20.200 0 0 0.0 0.0 5.44 Bank Southn Ore Medf 4 4 14.550 16.200 0 0 0.0 0.0 11.72 Bank of Marin Bancor 3 3 68.000 68.950 0 0 0.0 0.0 1.82 Bank of New York Mel 106 100 53.860 51.530 6 5 0.1 0.1 -3.93 Bank of Nt Butterfie 16 18 36.290 44.880 1 1 0.0 0.0 24.67 Bank of the Ozarks I 66 68 48.450 48.270 3 3 0.1 0.1 -0.00 Bankfinancial Corp 6 6 15.340 16.980 0 0 0.0 0.0 11.27 Bankunited Inc 49 61 40.720 39.980 2 2 0.0 0.0 -1.33 Bankwell Finl Group 2 2 34.340 32.280 0 0 0.0 0.0 -5.65 Banner Corp 20 19 55.120 55.490 1 1 0.0 0.0 1.12
68 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Bar Hbr Bankshares 6 5 27.010 27.720 0 0 0.0 0.0 3.31 Bay Bancorp Inc 7 7 12.300 13.450 0 0 0.0 0.0 9.35 Bb&T Corp 78 74 49.720 52.040 4 4 0.1 0.1 5.43 Bcb Bancorp Inc 6 6 14.500 15.650 0 0 0.0 0.0 8.93 Bear St Finl Inc 5 5 10.230 10.250 0 0 0.0 0.0 0.49 Beneficial Bancorp I 38 44 16.450 15.550 1 1 0.0 0.0 -3.59 Berkley W R Corp 45 47 71.650 72.700 3 3 0.1 0.1 1.66 Berkshire Hills Banc 21 31 36.600 37.950 1 1 0.0 0.0 4.29 Bgc Partners Inc 154 165 15.110 13.450 2 2 0.0 0.0 -9.77 Blackrock Inc 20 21 513.710 541.720 10 11 0.2 0.2 6.01 Blue Hills Bancorp I 15 14 20.100 20.850 0 0 0.0 0.0 6.07 Bofi Hldg Inc 14 13 29.900 40.530 0 1 0.0 0.0 35.55 Bok Finl Corp 24 23 92.320 98.990 2 2 0.0 0.0 7.76 Boston Private Banco 68 64 15.450 15.050 1 1 0.0 0.0 -1.82 Bridge Bancorp Inc 7 7 35.000 33.550 0 0 0.0 0.0 -3.54 Brighthouse Finl Inc 21 60 58.640 51.400 1 3 0.0 0.1 -12.35 Brightsphere Investm 0 51 16.750 15.760 0 1 0.0 0.0 NA Brookline Bancorp In 41 38 15.700 16.200 1 1 0.0 0.0 3.75 Brown & Brown Inc 176 166 51.460 25.440 9 4 0.2 0.1 -0.85 Bryn Mawr Bk Corp 9 8 44.200 43.950 0 0 0.0 0.0 -0.06 Bsb Bancorp Inc Md 2 2 29.250 30.600 0 0 0.0 0.0 4.62 C & F Finl Corp 1 1 58.000 52.600 0 0 0.0 0.0 -8.71
69 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) CVB Finl Corp 51 48 23.560 22.640 1 1 0.0 0.0 -3.33 Camden Natl Corp 8 8 42.130 44.500 0 0 0.0 0.0 6.23 Cannae Hldgs Inc 48 45 17.030 18.860 1 1 0.0 0.0 10.75 Capital City Bk Grou 10 9 22.940 24.750 0 0 0.0 0.0 8.20 Capital One Finl Cor 87 85 99.580 95.820 9 8 0.2 0.2 -3.36 Capitol Fed Finl Inc 75 71 13.410 12.350 1 1 0.0 0.0 -7.31 Carolina Finl Corp N 8 7 37.150 39.280 0 0 0.0 0.0 5.86 Cathay Bancorp Inc 39 37 42.170 39.980 2 1 0.0 0.0 -4.64 Cboe Hldgs Inc 15 15 124.590 114.100 2 2 0.0 0.0 -8.20 Centerstate Bks Fla 43 40 25.730 26.530 1 1 0.0 0.0 3.48 Central Fed Corp 24 22 2.750 2.320 0 0 0.0 0.0 -15.64 Central Pac Finl Cor 15 14 29.830 28.460 0 0 0.0 0.0 -3.95 Central Valley Cmnty 6 6 20.180 19.560 0 0 0.0 0.0 -2.73 Century Bancorp Inc 1 1 78.250 79.400 0 0 0.0 0.0 1.62 Charter Finl Corp Md 10 9 17.540 20.390 0 0 0.0 0.0 16.75 Chemical Finl Corp 34 32 53.470 54.680 2 2 0.0 0.0 2.78 Chemug Finl Corp 4 3 48.100 46.470 0 0 0.0 0.0 -2.86 Chubb Limited 90 90 146.130 136.770 13 12 0.3 0.2 -5.92 Cincinnati Finl Corp 34 35 74.970 74.260 3 3 0.0 0.0 -0.25 Cit Group Inc 66 43 49.230 51.500 3 2 0.1 0.0 4.95 Citigroup Inc 466 439 74.410 67.500 35 30 0.7 0.6 -8.91 Citizens & Northn Co 6 6 24.000 23.090 0 0 0.0 0.0 -2.70
70 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Citizens Cmnty Banco 3 3 13.490 13.970 0 0 0.0 0.0 5.06 Citizens Finl Group 111 105 41.980 41.980 5 4 0.1 0.1 0.48 Citizens First Corp 2 2 24.000 24.680 0 0 0.0 0.0 3.09 Citizens Inc 20 18 7.350 7.320 0 0 0.0 0.0 -0.41 City Hldg Co 7 7 67.470 68.560 0 0 0.0 0.0 2.29 Clifton Bancorp Inc 11 10 17.100 15.650 0 0 0.0 0.0 -8.13 Cme Group Inc 27 25 146.050 161.740 4 4 0.1 0.1 11.20 Cnb Finl Corp Pa 8 8 26.240 29.090 0 0 0.0 0.0 11.54 Cno Finl Group Inc 30 29 24.690 21.670 1 1 0.0 0.0 -11.87 Coastway Bancorp Inc 3 2 21.300 27.250 0 0 0.0 0.0 27.93 Cobiz Inc 19 18 19.990 19.600 0 0 0.0 0.0 -1.69 Codorus Vy Bancorp I 3 3 27.530 28.120 0 0 0.0 0.0 2.69 Cohen & Steers Inc 38 36 47.290 40.660 2 1 0.0 0.0 -13.33 Columbia Bkg Sys Inc 42 35 43.440 41.950 2 1 0.0 0.0 -2.92 Commerce Bancshares 61 65 55.840 59.910 3 4 0.1 0.1 7.71 Community Bankers Tr 8 7 8.150 9.000 0 0 0.0 0.0 10.43 Community Bk Sys Inc 32 30 53.750 53.560 2 2 0.0 0.0 0.25 Community Tr Bancorp 9 8 47.100 45.200 0 0 0.0 0.0 -3.35 Community West Bancs 6 5 10.700 11.200 0 0 0.0 0.0 5.04 Connectone Bancorp I 15 14 25.750 28.800 0 0 0.0 0.0 12.14 Consumer Portfolio S 11 10 4.150 3.770 0 0 0.0 0.0 -9.16 Cowen Group Inc New 27 26 13.650 13.200 0 0 0.0 0.0 -3.30
71 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Crawford & Co 12 12 9.620 8.220 0 0 0.0 0.0 -14.11 Crawford & Co 10 10 8.500 8.020 0 0 0.0 0.0 -4.87 Credit Accep Corp Mi 11 10 323.480 330.410 4 3 0.1 0.1 2.14 Cullen Frost Bankers 29 23 94.650 106.070 3 2 0.1 0.0 12.67 Customers Bancorp In 15 28 25.990 29.150 0 1 0.0 0.0 12.16 Diamond Hill Investm 2 2 206.660 206.560 0 0 0.0 0.0 -0.05 Dime Cmnty Bancorp I 19 36 20.950 18.400 0 1 0.0 0.0 -11.51 Discover Finl Svcs 96 112 76.920 71.930 7 8 0.1 0.2 -6.07 Donegal Group Inc 14 13 17.300 15.800 0 0 0.0 0.0 -7.94 Donnelley Finl Solut 34 32 19.490 17.170 1 1 0.0 0.0 -11.90 E Trade Financial Co 84 87 49.570 55.410 4 5 0.1 0.1 11.78 Eagle Bancorp Inc Md 20 18 57.900 59.850 1 1 0.0 0.0 3.37 East West Bancorp In 46 43 60.830 62.540 3 3 0.1 0.1 3.12 Eaton Vance Corp 73 75 56.390 55.670 4 4 0.1 0.1 -0.75 Ehealth Inc 8 7 17.370 14.310 0 0 0.0 0.0 -17.62 Emc Ins Group Inc 13 12 28.690 27.080 0 0 0.0 0.0 -4.85 Employers Holdings I 24 22 44.400 40.450 1 1 0.0 0.0 -8.43 Encore Cap Group Inc 14 18 42.100 45.200 1 1 0.0 0.0 7.36 Enova Intl Inc 20 41 15.200 22.050 0 1 0.0 0.0 45.07 Enstar Group Limited 10 10 200.750 210.250 2 2 0.0 0.0 4.73 Entegra Finl Corp 5 4 29.250 29.000 0 0 0.0 0.0 -0.85 Enterprise Bancorp I 4 3 34.050 35.290 0 0 0.0 0.0 4.11
72 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Enterprise Finl Svcs 21 20 45.150 46.900 1 1 0.0 0.0 4.11 Equity Bancshares In 2 2 35.410 39.160 0 0 0.0 0.0 10.59 Erie Indty Co 18 23 121.840 117.640 2 3 0.0 0.1 -2.77 Essa Bancorp Inc 8 7 15.670 14.670 0 0 0.0 0.0 -5.80 Essent Group Ltd 77 81 43.420 42.560 3 3 0.1 0.1 -1.98 Evans Bancorp Inc 2 2 41.900 45.250 0 0 0.0 0.0 9.09 Evercore Partners In 42 39 90.000 87.200 4 3 0.1 0.1 -2.70 Everest Re Group Ltd 15 13 221.260 256.820 3 3 0.1 0.1 16.66 Ezcorp Inc 30 61 12.200 13.200 0 1 0.0 0.0 8.20 FNB Corp 138 160 13.820 13.450 2 2 0.0 0.0 -1.85 Factset Resh Sys Inc 9 8 192.760 199.420 2 2 0.0 0.0 3.74 Farmers Cap Bk Corp 4 4 38.500 39.950 0 0 0.0 0.0 4.12 Farmers Natl Banc Co 6 6 14.750 13.850 0 0 0.0 0.0 -5.63 Fb Finl Corp 5 10 41.990 40.590 0 0 0.0 0.0 -3.33 Fbl Finl Group Inc 25 23 69.650 69.350 2 2 0.0 0.0 2.35 Fcb Finl Hldgs Inc 22 21 50.800 51.100 1 1 0.0 0.0 0.59 Federal Agric Mtg Co 6 10 78.240 87.020 0 1 0.0 0.0 11.95 Federated Invs Inc P 93 87 36.080 33.400 3 3 0.1 0.1 -6.73 Federated Natl Hldg 8 7 16.570 15.770 0 0 0.0 0.0 -4.31 Fidelity National Fi 97 91 39.240 40.020 4 4 0.1 0.1 2.78 Fidelity Southn Corp 15 14 21.800 23.070 0 0 0.0 0.0 6.35 Fifth Third Bancorp 121 114 30.340 31.750 4 4 0.1 0.1 5.18
73 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Financial Engines In 28 26 30.300 35.000 1 1 0.0 0.0 15.78 Financial Instns Inc 14 13 31.100 29.600 0 0 0.0 0.0 -4.11 First Amern Finl Cor 91 90 56.040 58.680 5 5 0.1 0.1 5.40 First Bancorp Inc Me 7 6 27.230 27.980 0 0 0.0 0.0 3.65 First Bancorp N C 17 16 35.310 35.650 1 1 0.0 0.0 1.24 First Bancorp P R 85 137 5.100 6.020 0 1 0.0 0.0 18.04 First Bancshares Inc 2 2 34.200 32.250 0 0 0.0 0.0 -5.56 First Bus Finl Svcs 6 5 22.120 25.160 0 0 0.0 0.0 14.41 First Busey Corp 30 28 29.940 29.720 1 1 0.0 0.0 -0.11 First Capital Inc 2 2 36.750 39.500 0 0 0.0 0.0 8.07 First Citizens Bancs 6 6 403.000 413.240 2 2 0.0 0.0 2.62 First Cmnty Bancshar 9 8 28.730 29.850 0 0 0.0 0.0 6.32 First Cmnty Corp S C 12 12 22.600 22.900 0 0 0.0 0.0 1.79 First Comwlth Finl P 49 78 14.320 14.130 1 1 0.0 0.0 -0.79 First Conn Bancorp I 8 8 26.150 25.600 0 0 0.0 0.0 -1.51 First Defiance Finl 3 3 51.970 57.320 0 0 0.0 0.0 10.91 First Financial Nort 5 5 15.510 16.750 0 0 0.0 0.0 8.46 First Finl Bancorp 32 30 26.350 29.350 1 1 0.0 0.0 12.16 First Finl Bankshare 32 31 45.050 46.300 1 1 0.0 0.0 3.18 First Finl Corp Ind 3 3 45.350 41.600 0 0 0.0 0.0 -7.24 First Fndtn Inc 19 18 18.540 18.540 0 0 0.0 0.0 -0.00 First Gty Bancshares 2 2 25.000 25.990 0 0 0.0 0.0 4.59
74 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) First Hawaiian Inc 0 19 29.180 27.830 0 1 0.0 0.0 NA First Horizon Natl C 166 157 19.990 18.830 3 3 0.1 0.1 -5.24 First Intst Bancsyst 21 20 40.050 39.550 1 1 0.0 0.0 -0.56 First Long Is Corp 10 10 28.500 27.450 0 0 0.0 0.0 -3.19 First Merchants Corp 29 27 42.060 41.700 1 1 0.0 0.0 -0.42 First Mid Ill Bancsh 1 1 38.540 36.450 0 0 0.0 0.0 -5.42 First Midwest Bancor 58 55 24.010 24.590 1 1 0.0 0.0 2.87 First Northwest Banc 3 3 16.300 16.890 0 0 0.0 0.0 3.62 First Rep Bk San Fra 45 42 86.640 92.610 4 4 0.1 0.1 7.09 First Savings Finl G 1 1 57.500 69.950 0 0 0.0 0.0 21.92 First US Bancshares 3 3 12.800 11.440 0 0 0.0 0.0 -10.47 First Utd Corp 2 2 17.450 19.200 0 0 0.0 0.0 10.03 Firstcash Inc 21 31 67.450 81.250 1 3 0.0 0.0 20.83 Flagstar Bancorp Inc 29 34 37.420 35.400 1 1 0.0 0.0 -5.40 Flushing Finl Corp 14 24 27.500 26.960 0 1 0.0 0.0 -1.26 Franklin Finl Networ 6 6 34.100 32.600 0 0 0.0 0.0 -4.40 Franklin Res Inc 69 65 43.330 34.680 3 2 0.1 0.0 -12.38 Fs Bancorp Inc 2 2 54.570 53.500 0 0 0.0 0.0 -1.77 Fulton Finl Corp Pa 94 89 17.900 17.750 2 2 0.0 0.0 -0.17 Gain Cap Hldgs Inc 25 23 10.000 6.750 0 0 0.0 0.0 -31.89 Gallagher Arthur J & 78 78 63.280 68.730 5 5 0.1 0.1 9.26 Gamco Investors Inc 6 5 29.650 24.830 0 0 0.0 0.0 -16.19
75 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Genworth Finl Inc 149 140 3.110 2.830 0 0 0.0 0.0 -9.00 German Amern Bancorp 7 6 35.330 33.350 0 0 0.0 0.0 -5.18 Glacier Bancorp Inc 35 44 39.390 38.380 1 2 0.0 0.0 -2.56 Glen Burnie Bancorp 1 1 11.150 11.950 0 0 0.0 0.0 8.07 Global Indty Ltd Cay 8 7 42.020 34.520 0 0 0.0 0.0 -17.27 Goldman Sachs Group 96 91 254.760 251.860 24 23 0.5 0.4 -0.86 Great Elm Cap Group 2 2 4.050 4.000 0 0 0.0 0.0 -1.23 Great Southn Bancorp 7 6 51.650 49.950 0 0 0.0 0.0 -2.75 Great Westn Bancorp 30 32 39.800 40.270 1 1 0.0 0.0 1.69 Green Bancorp Inc 18 26 20.300 22.250 0 1 0.0 0.0 9.61 Green Dot Corp 27 25 60.260 64.160 2 2 0.0 0.0 6.47 Greene County Bancor 14 13 32.600 36.700 0 0 0.0 0.0 12.89 Greenhill & Co Inc 12 11 19.500 18.500 0 0 0.0 0.0 -4.89 Greenlight Capital R 24 22 20.100 16.050 0 0 0.0 0.0 -20.15 Guaranty Bancorp Del 12 11 27.650 28.350 0 0 0.0 0.0 3.12 Hallmark Finl Svcs I 6 6 10.430 8.920 0 0 0.0 0.0 -14.48 Hamilton Bancorp Inc 2 2 15.650 14.100 0 0 0.0 0.0 -9.90 Hancock Hldg Co 40 38 49.500 51.700 2 2 0.0 0.0 4.92 Hanmi Finl Corp 25 24 30.350 30.750 1 1 0.0 0.0 2.09 Hanover Ins Group In 23 21 108.080 117.890 2 2 0.0 0.0 9.59 Hartford Finl Svcs G 120 113 56.280 51.520 7 6 0.1 0.1 -8.02 Hawthorn Bancshares 2 2 20.750 20.450 0 0 0.0 0.0 -1.11
76 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Hci Group Inc 6 5 29.900 38.160 0 0 0.0 0.0 28.89 Heartland Finl Usa I 19 18 53.650 53.050 1 1 0.0 0.0 -0.88 Hennessy Advisors In 5 5 16.540 19.300 0 0 0.0 0.0 17.37 Heritage Commerce Co 15 14 15.320 16.480 0 0 0.0 0.0 8.34 Heritage Finl Corp W 26 25 30.800 30.600 1 1 0.0 0.0 -0.15 Heritage Ins Hldgs I 14 13 18.020 15.160 0 0 0.0 0.0 -15.58 Hilltop Holdings Inc 44 41 25.330 23.460 1 1 0.0 0.0 -7.13 Hingham Instn Svgs M 1 1 207.000 206.000 0 0 0.0 0.0 -0.15 Hmn Finl Inc 2 2 19.150 18.500 0 0 0.0 0.0 -3.39 Home Bancorp Inc 1 1 43.220 43.170 0 0 0.0 0.0 0.26 Home Bancshares Inc 77 89 23.250 22.810 2 2 0.0 0.0 -1.43 Homestreet Inc 29 27 28.950 28.650 1 1 0.0 0.0 -1.04 Hometrust Bancshares 10 9 25.750 26.050 0 0 0.0 0.0 1.17 Hope Bancorp Inc 70 81 18.250 18.190 1 1 0.0 0.0 0.37 Hopfed Bancorp Inc 3 3 14.220 14.500 0 0 0.0 0.0 2.33 Horace Mann Educator 38 36 44.100 42.750 2 2 0.0 0.0 -2.44 Horizon Bancorp Ind 13 12 27.800 30.010 0 0 0.0 0.0 8.47 Houlihan Lokey Inc 18 17 45.430 44.600 1 1 0.0 0.0 -1.39 Howard Bancorp Inc 4 3 22.000 19.800 0 0 0.0 0.0 -10.00 Iberiabank Corp 25 24 77.500 78.000 2 2 0.0 0.0 1.14 If Bancorp Inc 5 5 19.700 19.910 0 0 0.0 0.0 1.57 Independence Hldg Co 2 2 27.450 35.650 0 0 0.0 0.0 29.87
77 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Independent Bank Cor 11 10 22.350 22.900 0 0 0.0 0.0 3.14 Independent Bk Cp Ma 12 11 69.850 71.550 1 1 0.0 0.0 2.99 Independent Bk Group 10 18 67.600 70.700 1 1 0.0 0.0 4.77 Infinity Ppty & Cas 8 8 106.000 118.400 1 1 0.0 0.0 12.25 Interactive Brokers 50 47 59.210 67.240 3 3 0.1 0.1 13.73 Intercontinentalexch 71 67 70.560 72.520 5 5 0.1 0.1 3.11 International Bncshr 39 37 39.700 38.900 2 1 0.0 0.0 -1.18 Intl Fcstone Inc 9 9 42.530 42.680 0 0 0.0 0.0 0.35 Invesco Ltd 153 153 36.540 32.010 6 5 0.1 0.1 -11.63 Investment Technolog 15 14 19.250 19.740 0 0 0.0 0.0 2.90 Investors Bancorp In 129 149 13.880 13.640 2 2 0.0 0.0 -1.05 J P Morgan Chase & C 613 649 106.940 109.970 66 71 1.3 1.4 3.36 James Riv Group Ltd 17 16 40.010 35.470 1 1 0.0 0.0 -10.58 Janus Henderson Grou 67 74 38.260 33.090 3 2 0.0 0.0 -12.73 Kearny Finl Corp Md 38 35 14.450 13.000 1 0 0.0 0.0 -9.83 Kemper Corp Del 40 38 68.900 57.000 3 2 0.1 0.0 -16.93 Kentucky First Fed B 5 5 8.950 8.700 0 0 0.0 0.0 -1.69 Keycorp 138 130 20.170 19.550 3 3 0.1 0.0 -2.59 Kingstone Cos Inc 6 5 18.800 16.800 0 0 0.0 0.0 -10.19 Kinsale Cap Group In 0 4 45.000 51.330 0 0 0.0 0.0 NA Ladenburg Thalman Fi 80 76 3.160 3.270 0 0 0.0 0.0 3.77 Lake Shore Bancorp I 3 3 17.150 16.850 0 0 0.0 0.0 -1.15
78 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Lakeland Bancorp Inc 23 22 19.250 19.850 0 0 0.0 0.0 3.62 Lakeland Finl Corp 18 17 48.490 46.230 1 1 0.0 0.0 -4.24 Landmark Bancorp Inc 2 2 29.000 29.000 0 0 0.0 0.0 0.70 Lazard Ltd 96 90 52.500 52.560 5 5 0.1 0.1 3.30 Lcnb Corp 4 4 20.450 19.000 0 0 0.0 0.0 -6.29 Legacy Tex Finl Grou 29 27 42.210 42.820 1 1 0.0 0.0 1.81 Legg Mason Inc 62 58 41.980 40.650 3 2 0.0 0.0 -2.51 Lendingclub Corp 161 151 4.130 3.500 1 1 0.0 0.0 -15.25 Lendingtree Inc New 3 3 340.450 328.150 1 1 0.0 0.0 -3.61 Lincoln Natl Corp In 73 74 76.870 73.060 6 5 0.1 0.1 -4.57 Loews Corp 76 72 50.030 49.730 4 4 0.1 0.1 -0.48 Lpl Finl Hldgs Inc 73 76 57.140 61.070 4 5 0.1 0.1 7.29 M & T Bk Corp 24 23 170.990 184.360 4 4 0.1 0.1 8.24 MBIA Inc 13 12 7.320 9.260 0 0 0.0 0.0 26.50 MSCI Inc 23 22 126.540 149.470 3 3 0.1 0.1 18.42 Macatawa Bk Corp 14 13 10.000 10.270 0 0 0.0 0.0 3.32 Mackinac Finl Corp 17 16 16.000 16.160 0 0 0.0 0.0 1.00 Maiden Holdings Ltd 57 53 6.600 6.500 0 0 0.0 0.0 0.76 Mainsource Financial 10 10 36.310 40.650 0 0 0.0 0.0 12.47 Malvern Bancorp Inc 2 2 26.200 26.000 0 0 0.0 0.0 -0.76 Manning & Napier Inc 5 5 3.600 3.500 0 0 0.0 0.0 -0.83 Markel Corp 4 5 1139.130 1170.250 5 6 0.1 0.1 2.73
79 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Marketaxess Hldgs In 10 10 201.750 217.440 2 2 0.0 0.0 8.01 Marlin Business Svcs 7 6 22.400 28.350 0 0 0.0 0.0 27.22 Marsh & McLennan Cos 84 91 81.390 82.590 7 8 0.1 0.1 1.93 Mb Financial Inc New 42 38 44.520 40.480 2 2 0.0 0.0 -8.57 Mbt Finl Corp 10 10 10.600 10.750 0 0 0.0 0.0 8.11 Mercantile Bank Corp 8 7 35.370 33.250 0 0 0.0 0.0 -5.41 Mercury Genl Corp Ne 25 33 53.440 45.870 1 2 0.0 0.0 -13.02 Meridian Bancorp Inc 25 24 20.600 20.150 1 0 0.0 0.0 -1.95 Meta Finl Group Inc 4 4 92.650 109.200 0 0 0.0 0.0 18.00 Metlife Inc 231 226 50.560 45.890 12 10 0.2 0.2 -8.47 Mgic Invt Corp Wis 14 13 14.110 13.000 0 0 0.0 0.0 -7.87 Mid Penn Bancorp Inc 3 3 34.450 32.000 0 0 0.0 0.0 -7.11 Midsouth Bancorp 3 2 13.250 12.650 0 0 0.0 0.0 -4.46 Midwestone Finl Grou 6 6 33.530 33.290 0 0 0.0 0.0 -0.11 Moelis & Co 17 16 48.500 50.850 1 1 0.0 0.0 8.76 Moodys Corp 41 42 147.610 161.300 6 7 0.1 0.1 9.56 Morgan Stanley 241 234 52.470 53.960 13 13 0.2 0.2 3.29 Morningstar Inc 23 22 96.970 95.520 2 2 0.0 0.0 -1.24 Msb Finl Corp New 3 3 17.900 17.950 0 0 0.0 0.0 0.28 Mutualfirst Finl Inc 2 2 38.550 36.250 0 0 0.0 0.0 -5.49 NBT Bancorp 21 20 36.800 35.480 1 1 0.0 0.0 -2.95 Nasdaq Stock Martket 52 49 76.830 86.220 4 4 0.1 0.1 12.73
80 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) National Bankshares 2 2 45.450 45.050 0 0 0.0 0.0 -0.88 National Bk Hldgs Co 13 12 32.430 33.250 0 0 0.0 0.0 2.80 National Comm Corp 2 2 40.250 43.550 0 0 0.0 0.0 8.20 National Gen Hldgs C 76 72 19.640 24.310 1 2 0.0 0.0 23.98 National Westn Life 2 2 331.020 304.880 1 1 0.0 0.0 -7.90 Nationstar Mtg Hldgs 11 16 18.500 17.960 0 0 0.0 0.0 -2.92 Navient Corp 202 190 13.320 13.120 3 2 0.1 0.0 -0.28 Navigators Group Inc 18 24 48.700 57.650 1 1 0.0 0.0 18.53 Nelnet Inc 16 15 54.780 52.410 1 1 0.0 0.0 -4.05 New York Cmnty Banco 318 215 13.020 13.030 4 3 0.1 0.1 1.34 Nicholas Financial I 10 10 8.800 9.070 0 0 0.0 0.0 3.07 Nicolet Bankshares I 2 2 54.740 55.070 0 0 0.0 0.0 0.60 Nmi Hldgs Inc 49 46 17.000 16.550 1 1 0.0 0.0 -2.65 Northeast Bancorp 5 4 23.150 20.500 0 0 0.0 0.0 -11.41 Northern Tr Corp 59 45 99.890 103.130 6 5 0.1 0.1 3.65 Northfield Bancorp I 21 19 17.080 15.610 0 0 0.0 0.0 -8.03 Northrim Bancorp Inc 2 1 33.850 34.550 0 0 0.0 0.0 2.75 Northwest Bancshares 48 56 16.730 16.560 1 1 0.0 0.0 -0.02 Norwood Financial Co 2 2 33.000 30.090 0 0 0.0 0.0 -8.19 Oceanfirst Finl Corp 10 25 26.250 26.750 0 1 0.0 0.0 2.48 Ocwen Finl Corp 63 59 3.130 4.120 0 0 0.0 0.0 31.63 Ofg Bancorp 21 20 9.400 10.450 0 0 0.0 0.0 11.79
81 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Ohio Vy Banc Corp 1 1 40.400 41.850 0 0 0.0 0.0 4.10 Old Line Bancshares 5 4 29.440 33.000 0 0 0.0 0.0 12.36 Old Natl Bancp Ind 85 80 17.450 16.900 1 1 0.0 0.0 -2.41 Old Point Finl Corp 1 1 29.750 26.380 0 0 0.0 0.0 -10.94 Old Rep Intl Corp 139 196 21.380 21.450 3 4 0.1 0.1 6.42 Old Second Bancorp I 7 6 13.650 13.900 0 0 0.0 0.0 1.90 Om Asset Mgmt Plc 54 0 16.750 15.760 1 0 0.0 0.0 -5.37 On Deck Cap Inc 29 27 5.740 5.590 0 0 0.0 0.0 -2.61 Onemain Hldgs Inc 71 84 25.990 29.940 2 3 0.0 0.0 15.20 Oppenheimer Hldgs 9 8 26.800 25.750 0 0 0.0 0.0 -3.52 Opus Bk Irvine Calif 13 13 27.300 28.000 0 0 0.0 0.0 2.94 Oritani Finl Corp De 23 21 16.400 15.350 0 0 0.0 0.0 -4.94 Orrstown Finl Svcs I 5 5 25.250 24.150 0 0 0.0 0.0 -3.91 Pacific Mercantile B 6 6 8.750 9.550 0 0 0.0 0.0 9.14 Pacific Premier Banc 17 26 40.000 40.200 1 1 0.0 0.0 0.50 Pacwest Bancorp Del 49 46 50.400 49.530 2 2 0.0 0.0 -0.82 Park Natl Corp 5 5 104.000 103.760 1 1 0.0 0.0 0.67 Parke Bancorp Inc 2 2 20.550 20.800 0 0 0.0 0.0 1.81 Pathfinder Bancorp I 4 3 15.240 15.300 0 0 0.0 0.0 0.77 Peapack-Gladstone Fi 9 9 35.020 33.390 0 0 0.0 0.0 -4.52 Penns Woods Bancorp 2 2 46.580 42.310 0 0 0.0 0.0 -8.18 Pennymac Finl Svcs I 13 12 22.350 22.650 0 0 0.0 0.0 1.34
82 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Peoples Bancorp Inc 9 9 32.620 35.450 0 0 0.0 0.0 9.47 Peoples Bk N C 5 5 30.690 30.720 0 0 0.0 0.0 0.55 Peoples Finl Corp Mi 3 3 13.000 13.850 0 0 0.0 0.0 6.54 Peoples Finl Svcs Co 2 2 46.580 45.650 0 0 0.0 0.0 -1.25 Peoples United Finan 152 126 18.700 18.660 3 2 0.1 0.0 0.66 Peoples Utah Bancorp 4 4 30.300 32.300 0 0 0.0 0.0 6.90 Phh Corp 24 23 10.300 10.460 0 0 0.0 0.0 1.55 Pinnacle Finl Partne 35 33 66.300 64.200 2 2 0.0 0.0 -2.96 Piper Jaffray Cos 2 6 86.250 83.050 0 0 0.0 0.0 -1.48 Pjt Partners Inc 7 7 45.600 50.100 0 0 0.0 0.0 9.98 Plumas Bancorp 3 3 23.050 24.850 0 0 0.0 0.0 7.81 Popular Inc 39 36 35.490 41.620 1 1 0.0 0.0 17.93 Pra Group Inc 26 25 33.200 38.000 1 1 0.0 0.0 14.46 Preferred Bk Los Ang 6 6 58.780 64.200 0 0 0.0 0.0 9.62 Premier Finl Bancorp 5 5 20.080 18.610 0 0 0.0 0.0 -6.57 Primerica Inc 43 40 101.550 96.600 4 4 0.1 0.1 -4.63 Principal Financial 113 108 70.560 60.910 8 7 0.2 0.1 -12.96 Proassurance Corp 24 29 57.150 48.550 1 1 0.0 0.0 -14.51 Progressive Corp Ohi 76 58 56.320 60.930 4 4 0.1 0.1 8.19 Prosperity Bancshare 26 29 70.070 72.630 2 2 0.0 0.0 4.14 Provident Bancorp In 2 2 26.450 26.550 0 0 0.0 0.0 0.38 Provident Finl Hldgs 4 4 18.400 18.090 0 0 0.0 0.0 -0.93
83 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Provident Finl Svcs 37 35 26.970 25.590 1 1 0.0 0.0 -4.38 Prudential Bancorp I 4 3 17.600 18.140 0 0 0.0 0.0 3.35 Prudential Finl Inc 115 108 114.980 103.550 13 11 0.3 0.2 -9.19 Pzena Investment Mgm 8 8 10.670 11.130 0 0 0.0 0.0 8.49 Qcr Holdings Inc 6 5 42.850 44.850 0 0 0.0 0.0 4.80 RLI Corp 25 23 60.660 63.390 2 1 0.0 0.0 4.86 Radian Group Inc 7 6 20.610 19.040 0 0 0.0 0.0 -7.61 Raymond James Finl I 44 46 89.300 89.410 4 4 0.1 0.1 0.69 Regional Mgmt Corp 6 6 26.310 31.840 0 0 0.0 0.0 21.02 Regions Finl Corp 305 287 17.280 18.580 5 5 0.1 0.1 8.01 Reinsurance Group Am 30 25 155.930 154.000 5 4 0.1 0.1 -0.92 Renaissance Re Hldgs 26 25 125.590 138.510 3 3 0.1 0.1 10.55 Renasant Corp 28 26 40.890 42.560 1 1 0.0 0.0 4.53 Republic Bancorp Ky 9 8 38.020 38.300 0 0 0.0 0.0 1.35 Republic First Banco 14 13 8.450 8.700 0 0 0.0 0.0 2.96 Riverview Bancorp In 7 7 8.670 9.340 0 0 0.0 0.0 8.10 S & T Bancorp Inc 17 16 39.810 39.940 1 1 0.0 0.0 0.89 S&P Global Inc 58 55 169.400 191.060 10 11 0.2 0.2 13.08 SEI Corp 40 38 71.860 74.910 3 3 0.1 0.1 4.24 Safeguard Scientific 17 16 11.200 12.250 0 0 0.0 0.0 9.37 Safety Ins Group Inc 9 8 80.400 76.850 1 1 0.0 0.0 -3.34 Salisbury Bancorp In 3 3 44.900 45.000 0 0 0.0 0.0 0.81
84 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Sandy Spring Bancorp 12 13 39.020 38.760 0 1 0.0 0.0 0.03 Santander Consumer U 190 179 18.620 16.300 4 3 0.1 0.1 -12.19 Sb Finl Group Inc 7 6 18.490 18.400 0 0 0.0 0.0 -0.08 Schwab Charles Cp Ne 117 110 51.370 52.220 6 6 0.1 0.1 1.86 Seacoast Bkg Corp Fl 18 17 25.210 26.470 0 0 0.0 0.0 5.00 Security Natl Finl C 3 3 5.300 5.150 0 0 0.0 0.0 2.03 Select Bancorp Inc N 7 6 12.630 13.360 0 0 0.0 0.0 5.78 Selective Ins Group 33 36 58.700 60.700 2 2 0.0 0.0 3.73 Servisfirst Bancshar 21 20 41.500 40.820 1 1 0.0 0.0 -1.37 Severn Bancorp Anna 8 7 7.300 7.250 0 0 0.0 0.0 -0.28 Shore Bancshares Inc 7 7 16.700 18.860 0 0 0.0 0.0 13.39 Si Finl Group Inc Md 4 3 14.700 14.400 0 0 0.0 0.0 -1.63 Sierra Bancorp 7 7 26.560 26.640 0 0 0.0 0.0 0.89 Signature Bk New Yor 16 15 137.260 141.950 2 2 0.0 0.0 3.42 Silvercrest Asset Mg 4 4 16.050 15.200 0 0 0.0 0.0 -4.43 Simmons First Nation 38 42 57.100 28.450 2 1 0.0 0.0 0.15 Slm Corp 260 279 11.300 11.210 3 3 0.1 0.1 -0.80 Sound Finl Bancorp I 1 1 34.300 36.650 0 0 0.0 0.0 7.22 South St Corp 18 17 87.150 85.300 2 1 0.0 0.0 -1.74 Southern First Bancs 3 3 41.250 44.500 0 0 0.0 0.0 7.88 Southern Mo Bancorp 3 3 37.590 36.600 0 0 0.0 0.0 -2.34 Southern Natl Bancor 6 5 16.030 15.840 0 0 0.0 0.0 -0.69
85 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Southside Bancshares 13 12 33.680 34.740 0 0 0.0 0.0 3.98 State Auto Finl Corp 19 18 29.120 28.570 1 1 0.0 0.0 -1.56 State Bk Finl Corp 16 15 29.840 30.010 0 0 0.0 0.0 1.25 State Str Corp 61 42 97.610 99.730 6 4 0.1 0.1 2.60 Sterling Bancorp Del 122 115 24.600 22.550 3 3 0.1 0.0 -8.08 Stewardship Finl Cor 5 4 10.250 11.200 0 0 0.0 0.0 9.56 Stewart Information 14 18 42.300 43.940 1 1 0.0 0.0 4.64 Stifel Finl Corp 36 34 59.560 59.230 2 2 0.0 0.0 -0.37 Stock Yds Bancorp In 9 9 37.700 35.100 0 0 0.0 0.0 -6.30 Summit St Bk Rohnert 3 3 12.800 13.400 0 0 0.0 0.0 5.63 Sun Bancorp Inc 9 0 24.300 NA 0 0 0.0 0.0 NA Suntrust Bks Inc 77 73 64.590 68.040 5 5 0.1 0.1 5.94 Sussex Bancorp 2 2 26.900 30.400 0 0 0.0 0.0 13.25 Svb Finl Group 15 16 233.770 240.010 4 4 0.1 0.1 2.67 Synchrony Finl 187 178 38.610 33.530 7 6 0.1 0.1 -12.82 Synovus Finl Corp 55 60 47.940 49.940 3 3 0.1 0.1 4.68 T.Rowe Price Group I 91 86 104.930 107.970 10 9 0.2 0.2 3.52 TCF Bkg & Svgs Fa Mi 87 82 20.500 22.810 2 2 0.0 0.0 12.02 Td Ameritrade Hldg C 55 52 51.130 59.230 3 3 0.1 0.1 16.29 Territorial Bancorp 5 5 30.870 29.660 0 0 0.0 0.0 -3.29 Texas Capital Bancsh 21 24 88.900 89.900 2 2 0.0 0.0 1.12 Tfs Finl Corp 42 51 14.940 14.690 1 1 0.0 0.0 -0.54
86 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Third Pt Reins Ltd 19 33 14.650 13.950 0 0 0.0 0.0 -4.78 Timberland Bancorp I 3 2 26.550 30.400 0 0 0.0 0.0 15.03 Tompkins Cnty Trustc 6 6 81.350 75.760 0 0 0.0 0.0 -6.31 Torchmark Corp 40 34 90.710 84.170 4 3 0.1 0.1 -7.06 Townebank Portsmouth 30 28 30.750 28.600 1 1 0.0 0.0 -6.54 Travelers Companies 85 80 135.640 138.860 12 11 0.2 0.2 2.90 Trico Bancshares 11 10 37.860 37.220 0 0 0.0 0.0 -1.27 Tristate Cap Hldgs I 14 13 23.000 23.250 0 0 0.0 0.0 1.09 Triumph Bancorp Inc 5 5 31.500 41.200 0 0 0.0 0.0 30.79 Trustco Bk Corp N Y 44 42 9.200 8.450 0 0 0.0 0.0 -7.44 Trustmark Corp 46 43 31.860 31.160 1 1 0.0 0.0 -1.48 Two Riv Bancorp 3 3 18.130 18.050 0 0 0.0 0.0 -0.18 US Bancorp Del 5 122 53.580 50.500 0 6 0.0 0.1 -5.18 Umb Finl Corp 24 23 71.920 72.390 2 2 0.0 0.0 1.04 Umpqua Hldgs Corp 81 100 20.800 21.410 2 2 0.0 0.0 3.89 Union Bankshares Cor 21 45 36.170 36.710 1 2 0.0 0.0 2.09 United Bancshares In 1 1 22.100 21.600 0 0 0.0 0.0 -1.69 United Bankshs Inc W 43 40 34.750 35.250 1 1 0.0 0.0 2.37 United Cmnty Bancorp 3 2 21.200 25.200 0 0 0.0 0.0 19.46 United Cmnty Bks Bla 46 43 28.140 31.650 1 1 0.0 0.0 12.89 United Cmnty Finl Co 25 24 9.130 9.860 0 0 0.0 0.0 8.66 United Finl Bancorp 24 23 17.640 16.200 0 0 0.0 0.0 -7.51
87 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) United Fire Group In 15 14 45.580 47.860 1 1 0.0 0.0 5.65 United Ins Hldgs Cor 12 20 17.250 19.140 0 0 0.0 0.0 11.30 United Security Banc 15 14 11.000 10.750 0 0 0.0 0.0 -1.65 Unity Bancorp Inc 2 2 19.750 22.000 0 0 0.0 0.0 11.69 Universal Ins Hldgs 12 26 27.350 31.900 0 1 0.0 0.0 17.17 Univest Corp Pa 11 11 28.050 27.700 0 0 0.0 0.0 -0.56 Unumprovident Corp 82 64 54.890 47.610 5 3 0.1 0.1 -12.91 Validus Holdings Ltd 51 48 46.920 67.450 2 3 0.0 0.1 44.56 Valley Natl Bancorp 122 146 11.220 12.460 1 2 0.0 0.0 11.99 Veritex Hldgs Inc 7 7 27.590 27.670 0 0 0.0 0.0 0.29 Virtu Finl Inc 77 72 18.300 33.000 1 2 0.0 0.0 81.79 Virtus Invt Partners 5 4 115.050 123.800 1 0 0.0 0.0 7.98 Voya Finl Inc 59 64 49.470 50.500 3 3 0.1 0.1 2.10 WSFS Finl Corp 14 13 47.850 47.900 1 1 0.0 0.0 0.29 Waddell & Reed Finl 47 45 22.340 20.210 1 1 0.0 0.0 -8.51 Walker & Dunlop Inc 24 22 47.500 59.420 1 1 0.0 0.0 25.74 Washington Fed Inc 36 37 34.250 34.600 1 1 0.0 0.0 1.52 Washington Tr Bancor 7 6 53.250 53.750 0 0 0.0 0.0 1.75 Washingtonfirst Bank 3 0 34.260 NA 0 0 0.0 0.0 NA Waterstone Finl Inc 26 25 17.050 17.300 0 0 0.0 0.0 5.13 Webster Finl Corp Co 41 34 56.160 55.400 2 2 0.0 0.0 -0.87 Wellesley Bancorp In 4 4 29.000 30.750 0 0 0.0 0.0 6.22
88 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Financials (cont.) Wells Fargo & Co New 493 476 60.670 52.410 30 25 0.6 0.5 -13.10 Wesbanco Inc 21 19 40.650 42.300 1 1 0.0 0.0 4.75 West Bancorporation 11 10 25.150 25.600 0 0 0.0 0.0 2.55 Westamerica Bancorp 3 2 59.550 58.080 0 0 0.0 0.0 -1.80 Western Alliance Ban 55 52 56.620 58.110 3 3 0.1 0.1 2.63 Western New Eng Banc 9 9 10.900 10.650 0 0 0.0 0.0 -1.90 Westwood Hldgs Group 5 4 66.210 56.490 0 0 0.0 0.0 -13.64 White Mtns Ins Group 2 1 851.280 822.520 2 1 0.0 0.0 -3.26 Willis Towers Watson 40 41 150.690 152.190 6 6 0.1 0.1 1.40 Wintrust Financial C 26 28 82.370 86.050 2 2 0.0 0.0 4.71 Wisdomtree Invts Inc 0 46 12.550 9.170 0 0 0.0 0.0 NA Wmi Hldgs Corp 22 20 0.849 1.420 0 0 0.0 0.0 67.24 World Accep Corp Del 4 4 80.720 105.300 0 0 0.0 0.0 30.45 Xenith Bankshares In 4 0 33.830 NA 0 0 0.0 0.0 NA Xl Group Ltd 96 90 35.160 55.260 3 5 0.1 0.1 57.79 Zions Bancorp 42 40 50.830 52.730 2 2 0.0 0.0 4.12 941 910 17.7 17.5 0.14 Information Technology Accenture Plc Irelan 156 156 153.090 153.500 24 24 0.5 0.5 0.27 Aci Worldwide Inc 62 59 22.670 23.720 1 1 0.0 0.0 4.63 Activision Blizzard 101 95 63.320 67.460 6 6 0.1 0.1 7.09 Actua Corp 16 0 15.600 1.150 0 0 0.0 0.0 36.51
89 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Acxiom Corp 40 38 27.560 22.710 1 1 0.0 0.0 -17.60 Adobe Sys Inc 76 72 175.240 216.080 13 16 0.3 0.3 23.31 Adtran Inc 37 35 19.350 15.550 1 1 0.0 0.0 -19.19 Advanced Energy Inds 17 16 67.480 63.900 1 1 0.0 0.0 -16.24 Advanced Micro Devic 0 91 10.280 10.050 0 1 0.0 0.0 NA Agilysys Inc 6 6 12.280 11.920 0 0 0.0 0.0 -2.93 Akamai Technologies 24 32 65.040 70.980 2 2 0.0 0.0 9.13 Alliance Data System 19 18 253.480 212.860 5 4 0.1 0.1 -15.83 Alpha & Omega Semico 9 8 16.360 15.450 0 0 0.0 0.0 -5.56 Alphabet Inc Cl-A 34 33 1053.400 1037.140 36 34 0.7 0.7 -1.54 Alphabet Inc Cl-C 35 35 1046.400 1031.790 37 36 0.7 0.7 -1.40 Amdocs Ltd 23 22 65.480 66.720 2 1 0.0 0.0 2.28 American Software In 6 5 11.630 13.000 0 0 0.0 0.0 12.86 Amkor Technology Inc 111 104 10.050 10.130 1 1 0.0 0.0 0.80 Amtech Sys Inc 8 7 10.070 7.320 0 0 0.0 0.0 -27.31 Analog Devices Inc 26 26 89.030 91.130 2 2 0.0 0.0 2.89 Angi Homeservices In 12 12 10.460 13.580 0 0 0.0 0.0 29.83 Anixter Intl Inc 18 17 76.000 75.750 1 1 0.0 0.0 -0.33 Ansys Inc 18 17 147.590 156.690 3 3 0.1 0.1 6.17 Apple Inc 1,221 1,219 169.230 167.780 207 205 4.0 3.9 -0.46 Applied Materials In 204 202 51.120 55.610 10 11 0.2 0.2 8.98 Applied Optoelectron 3 3 37.820 25.060 0 0 0.0 0.0 -33.74
90 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Arista Networks Inc 18 17 235.580 255.300 4 4 0.1 0.1 8.37 Arris Intl Inc 88 83 25.690 26.570 2 2 0.0 0.0 3.43 Arrow Electrs Inc 40 38 80.410 77.020 3 3 0.1 0.1 -4.22 Aspen Technology Inc 39 37 66.200 78.890 3 3 0.0 0.1 19.17 Asure Software Inc 4 4 14.120 12.240 0 0 0.0 0.0 -13.31 Atlassian Corp Plc 8 7 45.520 53.920 0 0 0.0 0.0 18.45 Autodesk Inc 20 19 104.830 125.580 2 2 0.0 0.0 19.79 Automatic Data Proce 96 94 117.190 113.480 11 11 0.2 0.2 -2.64 Autoweb Inc 4 3 9.010 2.980 0 0 0.0 0.0 -66.93 Avid Technology Inc 12 11 5.390 4.540 0 0 0.0 0.0 -15.77 Avnet Inc 64 70 39.620 41.760 3 3 0.0 0.1 5.85 Aware Inc Mass 2 2 4.500 4.150 0 0 0.0 0.0 -7.78 Axcelis Technologies 10 9 28.700 24.600 0 0 0.0 0.0 -14.29 Axt Inc 9 8 8.700 7.250 0 0 0.0 0.0 -16.67 Badger Meter Inc 12 12 47.800 47.150 1 1 0.0 0.0 -1.09 Barracuda Networks I 26 0 27.500 NA 1 0 0.0 0.0 NA Bazaarvoice Inc 24 0 5.450 NA 0 0 0.0 0.0 NA Bel Fuse Inc 4 3 25.175 18.900 0 0 0.0 0.0 -24.71 Belden Cdt Inc 0 2 77.170 68.940 0 0 0.0 0.0 NA Benchmark Electrs In 0 14 29.100 29.850 0 0 0.0 0.0 NA Black Box Corp Del 8 7 3.550 2.000 0 0 0.0 0.0 -43.66 Black Knight Inc 51 48 44.150 47.100 2 2 0.0 0.0 6.68
91 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Blackbaud Inc 16 16 94.490 101.810 2 2 0.0 0.0 7.87 Blackhawk Network Hl 33 31 35.650 44.700 1 1 0.0 0.0 25.39 Blucora Inc 16 15 22.100 24.600 0 0 0.0 0.0 11.31 Booz Allen Hamilton 73 79 38.130 38.720 3 3 0.1 0.1 2.07 Bottomline Tech Del 6 6 34.680 38.750 0 0 0.0 0.0 11.74 Broadcom Ltd 28 31 256.900 235.650 7 7 0.1 0.1 -7.62 Broadridge Finl Solu 33 36 90.580 109.690 3 4 0.1 0.1 21.51 Brooks Automation In 34 29 23.850 27.080 1 1 0.0 0.0 13.97 CACI Inc 15 14 132.350 151.350 2 2 0.0 0.0 14.36 Ca Inc 148 165 33.280 33.900 5 6 0.1 0.1 2.61 Cabot Microelectroni 9 8 94.080 107.110 1 1 0.0 0.0 14.26 Cadence Designs Sys 75 71 41.820 36.770 3 3 0.1 0.1 -12.08 Calamp Corp 9 9 21.430 22.880 0 0 0.0 0.0 6.77 Calix Inc 22 21 5.950 6.850 0 0 0.0 0.0 15.13 Carbonite Inc 11 10 25.100 28.800 0 0 0.0 0.0 14.74 Cardtronics Plc 28 26 18.520 22.310 1 1 0.0 0.0 20.46 Cars Com Inc 43 41 28.840 28.330 1 1 0.0 0.0 -1.77 Cass Information Sys 5 5 58.210 59.510 0 0 0.0 0.0 2.64 Cdk Global Inc 29 27 71.280 63.340 2 2 0.0 0.0 -10.95 Cdw Corp 47 44 69.490 70.310 3 3 0.1 0.1 1.47 Ciena Corp 106 81 20.930 25.900 2 2 0.0 0.0 23.75 Cisco Sys Inc 791 789 38.300 42.890 30 34 0.6 0.6 12.82
92 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Citrix Sys Inc 51 48 88.000 92.800 4 4 0.1 0.1 5.45 Clearfield Inc 5 5 12.250 12.900 0 0 0.0 0.0 5.31 Clearone Inc 4 3 8.950 7.950 0 0 0.0 0.0 -10.39 Cognex Corp 27 26 61.160 51.990 2 1 0.0 0.0 -14.92 Cognizant Technology 78 79 71.020 80.500 6 6 0.1 0.1 13.63 Coherent Inc 8 8 282.220 187.400 2 1 0.0 0.0 -33.60 Cohu Inc 11 11 21.950 22.810 0 0 0.0 0.0 4.23 Commercehub Inc 2 2 21.990 22.500 0 0 0.0 0.0 2.32 Commercehub Inc 4 4 20.590 22.490 0 0 0.0 0.0 9.23 Commscope Hldg Co In 43 35 37.830 39.970 2 1 0.0 0.0 5.66 Computer Task Group 11 10 5.100 8.190 0 0 0.0 0.0 60.59 Comtech Telecommunic 21 19 22.120 29.890 0 1 0.0 0.0 35.76 Conduent Inc 108 102 16.160 18.640 2 2 0.0 0.0 15.35 Control4 Corp 4 4 29.760 21.480 0 0 0.0 0.0 -27.82 Convergys Corp 33 31 23.500 22.620 1 1 0.0 0.0 -3.32 Corelogic Inc 50 47 46.210 45.230 2 2 0.0 0.0 -2.12 Cray Inc 11 10 24.200 20.700 0 0 0.0 0.0 -14.46 Csg Sys Intl Inc 20 19 43.820 45.290 1 1 0.0 0.0 3.82 Csra Inc 69 78 29.920 41.230 2 3 0.0 0.1 38.59 Cyberoptics Corp 2 2 15.000 18.000 0 0 0.0 0.0 20.00 Daktronics Inc 17 16 9.130 8.810 0 0 0.0 0.0 -2.78 Dhi Group Inc 10 9 1.900 1.600 0 0 0.0 0.0 -15.79
93 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Diebold Inc 13 12 16.350 15.400 0 0 0.0 0.0 -5.16 Digi Intl Inc 11 10 9.550 10.300 0 0 0.0 0.0 7.85 Diodes Inc 23 21 28.670 30.460 1 1 0.0 0.0 6.24 Dolby Laboratories I 26 37 62.000 63.560 2 2 0.0 0.0 2.77 Dsp Group Inc 8 7 12.500 11.800 0 0 0.0 0.0 -5.60 Dst Sys Inc Del 32 30 62.070 83.650 2 3 0.0 0.0 34.77 Dxc Technology Co 46 40 94.900 100.530 4 4 0.1 0.1 6.12 Ebay Inc 188 177 37.740 40.240 7 7 0.1 0.1 6.62 Ebix Com Inc 4 11 79.250 74.500 0 1 0.0 0.0 -5.91 Echostar Holding Cor 18 17 59.900 52.770 1 1 0.0 0.0 -11.90 Electro Scientific 8 8 21.430 19.330 0 0 0.0 0.0 -9.80 Electronic Arts 50 47 105.060 121.240 5 6 0.1 0.1 15.40 Electronics for Imag 20 19 29.530 27.330 1 1 0.0 0.0 -7.45 Ellie Mae Inc 7 10 89.400 91.940 1 1 0.0 0.0 2.84 Emcore Corp 5 5 6.450 5.700 0 0 0.0 0.0 -11.63 Endurance Intl Group 78 73 8.400 7.400 1 1 0.0 0.0 -11.90 Entegris Inc 44 42 30.450 34.800 1 1 0.0 0.0 14.53 Epam Sys Inc 21 19 107.430 114.520 2 2 0.0 0.0 6.60 Eplus Inc 6 6 75.200 77.700 0 0 0.0 0.0 3.32 Etsy Inc 25 23 20.450 28.060 1 1 0.0 0.0 37.21 Euronet Svcs Inc 28 26 84.270 78.920 2 2 0.0 0.0 -6.35 Evertec Inc 0 30 13.650 16.350 0 0 0.0 0.0 NA
94 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Exlservice Holdings 18 17 60.350 55.770 1 1 0.0 0.0 -7.59 Extreme Networks Inc 39 36 12.520 11.070 0 0 0.0 0.0 -11.58 F5 Networks Inc 24 23 131.220 144.610 3 3 0.1 0.1 10.20 Facebook Inc 349 352 176.460 159.790 62 56 1.2 1.1 -9.45 Fair Isaac Corp 12 13 153.200 169.370 2 2 0.0 0.0 10.55 Faro Technologies In 7 7 47.000 58.400 0 0 0.0 0.0 24.26 Fidelity Natl Inform 71 82 94.090 96.300 7 8 0.1 0.2 2.68 Finisar Corp 69 65 20.350 15.810 1 1 0.0 0.0 -22.31 Fireeye Inc 62 59 14.200 16.930 1 1 0.0 0.0 19.23 First Data Corp New 177 167 16.710 16.000 3 3 0.1 0.1 -4.25 Fiserv Inc 100 94 131.130 71.310 13 7 0.3 0.1 8.76 Fleetcor Technologie 21 28 192.430 202.500 4 6 0.1 0.1 5.23 Flextronics Intl Ltd 135 150 17.990 16.330 2 2 0.0 0.0 -9.23 Flir Sys Inc 31 39 46.620 50.010 1 2 0.0 0.0 7.63 Formfactor Inc 19 17 15.650 13.650 0 0 0.0 0.0 -12.78 Fortinet Inc 14 21 43.690 53.580 1 1 0.0 0.0 22.64 Frequency Electrs In 7 7 9.360 8.750 0 0 0.0 0.0 -6.52 Gartner Group Inc Ne 21 20 123.150 117.620 3 2 0.0 0.0 -4.49 Genpact Limited 46 44 31.740 31.990 1 1 0.0 0.0 1.03 Global Pmts Inc 32 38 100.240 111.520 3 4 0.1 0.1 11.26 Globalscape Inc 11 11 3.550 3.680 0 0 0.0 0.0 4.10 Globant S A 5 5 46.460 51.540 0 0 0.0 0.0 10.93
95 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Godaddy Inc 38 36 50.280 61.420 2 2 0.0 0.0 22.16 Grubhub Inc 16 15 71.800 101.470 1 2 0.0 0.0 41.32 Gsi Technology 9 9 7.960 7.410 0 0 0.0 0.0 -6.91 Gtt Communications I 37 35 46.950 56.700 2 2 0.0 0.0 20.77 Guidewire Software I 21 20 74.260 80.830 2 2 0.0 0.0 8.85 Hackett Group Inc 16 16 15.710 16.060 0 0 0.0 0.0 2.23 Harmonic Lightwaves 41 38 4.200 3.800 0 0 0.0 0.0 -9.52 Henry Jack & Assoc I 22 21 116.960 120.950 3 3 0.0 0.0 3.74 Hewlett Packard Ente 0 190 14.360 17.540 0 3 0.0 0.1 NA Hp Inc 0 108 21.010 21.920 0 2 0.0 0.0 NA Iac Interactivecorp 10 12 122.280 156.380 1 2 0.0 0.0 27.89 Infinera Corporation 58 54 6.330 10.860 0 1 0.0 0.0 71.56 Insight Enterprises 19 18 38.290 34.930 1 1 0.0 0.0 -8.78 Integrated Device Te 44 48 29.730 30.560 1 1 0.0 0.0 2.79 Intel Corp 594 665 46.160 52.080 27 35 0.5 0.7 13.58 Interdigital Inc 19 18 76.150 73.600 1 1 0.0 0.0 -2.92 Internap Corp 1 1 15.710 11.000 0 0 0.0 0.0 -29.98 Intest Corp 11 10 8.650 6.650 0 0 0.0 0.0 -23.12 Intevac Inc 8 7 6.850 6.900 0 0 0.0 0.0 0.73 Intl Business McHn 192 192 153.420 153.430 29 29 0.6 0.6 1.02 Intuit 64 60 157.780 173.350 10 10 0.2 0.2 10.13 Itron Inc 15 14 68.200 71.550 1 1 0.0 0.0 4.91
96 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) J2 Global Inc 15 30 75.030 78.920 1 2 0.0 0.0 5.74 Jabil Circuit Inc 72 68 26.250 28.730 2 2 0.0 0.0 9.78 Juniper Networks 85 80 28.500 24.330 2 2 0.0 0.0 -14.03 KLA Instrs Corp 53 54 105.070 109.010 6 6 0.1 0.1 4.32 Kemet Corp 14 13 15.060 18.130 0 0 0.0 0.0 20.39 Key Tronics Corp 1 1 6.830 6.960 0 0 0.0 0.0 1.90 Keysight Technologie 35 33 41.600 52.390 1 2 0.0 0.0 25.94 Kimball Electronics 8 7 18.250 16.150 0 0 0.0 0.0 -11.51 Knowles Corp 0 21 14.660 12.590 0 0 0.0 0.0 NA Kopin Corp 23 22 3.200 3.120 0 0 0.0 0.0 -2.50 Kulicke & Soffa Inds 35 33 24.335 25.010 1 1 0.0 0.0 2.77 Kvh Inds Inc 5 4 10.350 10.350 0 0 0.0 0.0 0.00 Lam Resh Corp 37 35 184.070 203.160 7 7 0.1 0.1 10.64 Leaf Group Ltd 8 7 9.900 7.050 0 0 0.0 0.0 -28.79 Leidos Hldgs Inc 52 54 64.570 65.400 3 4 0.1 0.1 1.76 Limelight Networks I 40 38 4.410 4.110 0 0 0.0 0.0 -6.80 Liquidity Services I 9 9 4.850 6.500 0 0 0.0 0.0 34.02 Logmein Inc 23 30 114.500 115.550 3 3 0.1 0.1 1.16 Lumentum Hldgs Inc 17 7 48.900 63.800 1 0 0.0 0.0 30.47 Luxoft Hldg Inc 4 4 55.700 40.950 0 0 0.0 0.0 -26.48 MTS Sys Corp 10 10 53.700 51.650 1 1 0.0 0.0 -3.28 Magnachip Semiconduc 14 13 9.950 9.600 0 0 0.0 0.0 -3.52
97 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Manhattan Assocs Inc 26 33 49.540 41.880 1 1 0.0 0.0 -15.46 Mantech Intl Corp 12 11 50.190 55.470 1 1 0.0 0.0 11.00 Marchex Inc 8 8 3.230 2.730 0 0 0.0 0.0 -0.49 Marvell Technology G 145 137 21.470 21.000 3 3 0.1 0.1 -1.90 Mastercard Inc 242 242 151.360 175.160 37 42 0.7 0.8 15.91 Match Group Inc 21 20 31.310 44.440 1 1 0.0 0.0 41.94 Maximus Inc 35 47 71.580 66.740 3 3 0.0 0.1 -6.70 Maxlinear Inc 23 21 26.420 22.750 1 0 0.0 0.0 -13.89 Meet Group Inc 14 14 2.820 2.090 0 0 0.0 0.0 -25.89 Mesa Labs Inc 1 1 124.300 148.440 0 0 0.0 0.0 19.56 Methode Electrs Inc 11 11 40.100 39.100 0 0 0.0 0.0 -2.23 Microsemiconductor 33 39 51.650 64.720 2 3 0.0 0.0 25.30 Microsoft Corp 1,211 1,141 85.540 91.270 104 104 2.0 2.0 7.19 Microstrategy Inc 5 4 131.300 128.990 1 1 0.0 0.0 -1.76 Mks Instrument Inc 19 18 94.500 115.650 2 2 0.0 0.0 22.58 Moneygram Intl Inc 21 20 13.180 8.620 0 0 0.0 0.0 -34.60 Monotype Imaging Hol 16 15 24.100 22.450 0 0 0.0 0.0 -6.37 Motorola Solutions I 31 29 90.340 105.300 3 3 0.1 0.1 17.12 Nanometrics Inc 4 4 24.920 26.900 0 0 0.0 0.0 7.95 National Instrs Corp 47 45 41.630 50.570 2 2 0.0 0.0 22.08 Ncr Corp New 52 49 33.990 31.520 2 2 0.0 0.0 -7.27 Netapp Inc 100 94 55.320 61.690 6 6 0.1 0.1 11.90
98 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Netgear Inc 16 15 58.750 57.200 1 1 0.0 0.0 -2.64 Netscout Sys Inc 27 26 30.450 26.350 1 1 0.0 0.0 -13.46 Nic Inc 22 21 16.600 13.300 0 0 0.0 0.0 -19.42 Novanta Inc 13 17 50.000 52.150 1 1 0.0 0.0 4.30 Nuance Communication 132 124 16.350 15.750 2 2 0.0 0.0 -3.67 Nutanix Inc 0 12 35.280 49.110 0 1 0.0 0.0 NA Nvidia Corp 128 128 193.500 231.590 25 30 0.5 0.6 19.76 Oclaro Inc 30 28 6.740 9.560 0 0 0.0 0.0 41.84 Oracle Corp 430 479 47.280 45.750 20 22 0.4 0.4 -2.86 Osi Systems Inc 7 7 64.380 65.270 0 0 0.0 0.0 1.38 P C Connection 12 11 26.210 25.000 0 0 0.0 0.0 -4.62 Palo Alto Networks I 8 8 144.940 181.520 1 1 0.0 0.0 25.24 Par Technology Corp 6 5 9.350 14.090 0 0 0.0 0.0 50.70 Paychex Inc 71 73 68.080 61.590 5 4 0.1 0.1 -8.87 Paycom Software Inc 24 27 80.330 107.390 2 3 0.0 0.1 33.69 Paylocity Hldg Corp 8 8 47.160 51.230 0 0 0.0 0.0 8.63 Paypal Hldgs Inc 152 143 73.620 75.870 11 11 0.2 0.2 3.06 Pc Mall Inc 2 2 9.900 8.300 0 0 0.0 0.0 -16.16 Pdf Solutions Inc 9 9 15.700 11.660 0 0 0.0 0.0 -25.73 Pegasystems Inc 14 13 47.150 60.650 1 1 0.0 0.0 28.70 Perficient Inc 12 11 19.070 22.920 0 0 0.0 0.0 20.19 Pfsweb Inc 7 7 7.430 8.740 0 0 0.0 0.0 17.63
99 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Photronic Labs Inc 28 26 8.525 8.250 0 0 0.0 0.0 -3.23 Plantronics Inc New 17 16 50.380 60.370 1 1 0.0 0.0 20.15 Plexus Corp 1 1 60.720 59.730 0 0 0.0 0.0 -1.63 Power Integrations I 3 2 73.550 68.350 0 0 0.0 0.0 -6.85 Prg-Schultz Internat 8 7 7.100 9.450 0 0 0.0 0.0 33.10 Progress Software Co 24 22 42.570 38.450 1 1 0.0 0.0 -9.41 Proofpoint Inc 4 7 88.810 113.650 0 1 0.0 0.0 27.97 Ptc Inc 15 14 60.770 78.010 1 1 0.0 0.0 28.37 Qad Inc 5 4 38.850 41.650 0 0 0.0 0.0 7.21 Qualcomm Inc 368 332 64.020 55.410 24 18 0.5 0.4 -12.71 Qualys Inc 13 12 59.350 72.750 1 1 0.0 0.0 22.58 Quinstreet Inc 14 13 8.380 12.770 0 0 0.0 0.0 52.39 Realnetworks Inc 9 9 3.420 3.060 0 0 0.0 0.0 -10.53 Realpage Inc 29 27 44.300 51.500 1 1 0.0 0.0 16.25 Red Hat Inc 37 35 120.100 149.510 4 5 0.1 0.1 24.49 Reis Inc 2 2 20.650 21.450 0 0 0.0 0.0 4.88 Ribbon Communication 20 19 7.730 5.100 0 0 0.0 0.0 -34.02 Richardson Electrs 2 2 6.740 7.950 0 0 0.0 0.0 18.86 Ringcentral Inc 0 6 48.400 63.500 0 0 0.0 0.0 NA Rubicon Proj Inc 14 13 1.870 1.800 0 0 0.0 0.0 -3.74 Rudolph Technologies 13 13 23.900 27.700 0 0 0.0 0.0 15.90 Sabre Corp 119 181 20.500 21.450 2 4 0.0 0.1 5.29
100 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Salesforce Com Inc 50 47 102.230 116.300 5 5 0.1 0.1 13.76 Scansource Inc 16 15 35.800 35.550 1 1 0.0 0.0 -0.70 Science Applicatns I 28 32 76.570 78.800 2 3 0.0 0.0 3.32 Seachange Intl Inc 21 19 3.930 2.710 0 0 0.0 0.0 -31.04 Semtech Corp 12 12 34.200 39.050 0 0 0.0 0.0 14.18 Servicenow Inc 14 14 130.390 165.450 2 2 0.0 0.0 26.89 Servicesource Intl I 20 19 3.090 3.810 0 0 0.0 0.0 23.30 Shutterstock Inc 6 6 43.030 48.150 0 0 0.0 0.0 11.90 Sigma Designs Inc 12 11 6.950 6.200 0 0 0.0 0.0 -10.79 Silicon Laboratories 5 4 88.300 89.900 0 0 0.0 0.0 1.81 Splunk Inc 14 13 82.840 98.390 1 1 0.0 0.0 18.77 Square Inc 31 29 34.670 49.200 1 1 0.0 0.0 41.91 Ss&C Technologies Hl 64 60 40.480 53.640 3 3 0.0 0.1 32.70 Stamps Com Inc 10 11 188.000 201.050 2 2 0.0 0.0 6.94 Startek Inc 6 5 9.970 9.780 0 0 0.0 0.0 -1.91 Stratasys Ltd 14 13 19.960 20.180 0 0 0.0 0.0 1.10 Super Micro Computer 20 19 20.925 17.000 0 0 0.0 0.0 -18.76 Sykes Enterprises In 27 25 31.450 28.940 1 1 0.0 0.0 -7.98 Symantec Corp 40 52 28.060 25.850 1 1 0.0 0.0 -7.62 Synaptics Inc 10 9 39.940 45.730 0 0 0.0 0.0 14.50 Synchronoss Technolo 22 21 8.940 10.550 0 0 0.0 0.0 18.01 Synnex Corp 24 23 135.950 118.400 3 3 0.1 0.1 -12.68
101 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Synopsys Inc 28 30 85.240 83.240 2 2 0.0 0.0 -2.35 Syntel Inc 35 33 22.990 25.530 1 1 0.0 0.0 11.05 Systemax Inc 7 6 33.270 28.550 0 0 0.0 0.0 -9.84 Tableau Software Inc 14 8 69.200 80.820 1 1 0.0 0.0 16.79 Take-Two Interactive 42 39 109.780 97.780 5 4 0.1 0.1 -10.93 Te Connectivity Ltd 37 44 95.040 99.900 4 4 0.1 0.1 5.53 Tech Data Corp 20 19 97.970 85.130 2 2 0.0 0.0 -13.11 Techtarget Inc 5 5 13.920 19.880 0 0 0.0 0.0 42.82 Telaria Inc 121 114 4.030 3.760 0 0 0.0 0.0 -6.70 Telenav Inc 9 9 5.500 5.400 0 0 0.0 0.0 -1.82 Teletech Holdings In 21 0 40.250 30.700 1 0 0.0 0.0 -23.06 Teradata Corp Del 87 82 38.460 39.670 3 3 0.1 0.1 3.15 Teradyne Inc 72 68 41.870 45.710 3 3 0.1 0.1 9.39 Tessco Technologies 3 2 20.150 23.150 0 0 0.0 0.0 15.96 Tivo Corp 62 59 15.600 13.550 1 1 0.0 0.0 -12.07 Total Sys Svcs Inc 49 46 79.090 86.260 4 4 0.1 0.1 9.22 Transact Technologie 1 1 13.250 13.050 0 0 0.0 0.0 -0.89 Travelport Worldwide 55 52 13.070 16.340 1 1 0.0 0.0 25.68 Travelzoo Inc 3 3 6.450 7.250 0 0 0.0 0.0 12.40 Trimble Navigation L 64 61 40.640 35.880 3 2 0.0 0.0 -11.71 Ttec Hldgs Inc 0 19 40.250 30.700 0 1 0.0 0.0 NA Twitter Inc 80 75 24.010 29.010 2 2 0.0 0.0 20.82
102 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Tyler Technologies I 7 7 177.050 210.960 1 1 0.0 0.0 19.15 Ubiquiti Networks In 29 27 71.020 68.800 2 2 0.0 0.0 -3.13 Ultimate Software Gr 3 4 218.230 243.700 1 1 0.0 0.0 11.67 Ultra Clean Hldgs In 8 8 23.090 19.250 0 0 0.0 0.0 -16.63 Vantiv Inc 51 0 73.550 82.240 4 0 0.1 0.0 11.82 Vasco Data Sec Intl 17 16 13.900 12.950 0 0 0.0 0.0 -6.83 Veeco Instrs Inc Del 15 14 14.850 17.000 0 0 0.0 0.0 14.48 Verifone Hldgs Inc 64 61 17.710 15.380 1 1 0.0 0.0 -13.16 Verint Sys Inc 24 22 41.850 42.600 1 1 0.0 0.0 1.79 Verisign Inc 15 14 114.440 118.560 2 2 0.0 0.0 3.60 Viad Corp 10 9 55.400 52.450 1 0 0.0 0.0 -5.15 Viasat Inc 21 18 74.850 65.720 2 1 0.0 0.0 -12.20 Viavi Solutions Inc 53 50 8.740 9.720 0 0 0.0 0.0 11.21 Virtusa Corp 14 13 44.080 48.460 1 1 0.0 0.0 9.94 Visa Inc 398 393 114.020 119.620 45 47 0.9 0.9 5.09 Vishay Precision Gro 1 1 25.150 31.150 0 0 0.0 0.0 23.86 Vmware Inc 11 10 125.320 121.270 1 1 0.0 0.0 -3.23 Web Com Group Inc 36 34 21.800 18.100 1 1 0.0 0.0 -16.97 Western Un Co 135 149 19.010 19.230 3 3 0.0 0.1 2.12 Wex Inc 23 22 141.230 156.620 3 3 0.1 0.1 10.90 Workday Inc 10 10 101.740 127.110 1 1 0.0 0.0 24.94 Worldpay Inc 0 40 73.550 82.240 0 3 0.0 0.1 NA
103 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Information Technology (cont.) Xcerra Corp 21 20 9.790 11.650 0 0 0.0 0.0 19.00 Xerox Corp 110 104 29.150 28.780 3 3 0.1 0.1 -0.41 Xilinx Inc 51 48 67.420 72.240 3 3 0.1 0.1 7.69 Xo Group Inc 7 6 18.460 20.750 0 0 0.0 0.0 12.41 Xperi Corp 21 20 24.400 21.150 1 0 0.0 0.0 -12.53 Yume Inc 12 0 4.780 NA 0 0 0.0 0.0 NA Zebra Technologies C 29 27 103.800 139.190 3 4 0.1 0.1 34.09 Zedge Inc 4 3 2.749 3.200 0 0 0.0 0.0 16.39 Zendesk Inc 0 10 33.840 47.870 0 0 0.0 0.0 NA Zillow Group Inc 13 22 40.920 53.800 1 1 0.0 0.0 31.48 Zillow Group Inc 9 9 40.740 54.000 0 0 0.0 0.0 32.55 Zix Corp 9 8 4.380 4.270 0 0 0.0 0.0 -2.51 Zynga Inc 402 379 4.000 3.660 2 1 0.0 0.0 -8.50 1,148 1,182 21.9 22.7 3.81 Telecom Services At&T Inc 1,277 1,203 38.880 35.650 50 43 1.0 0.8 -7.08 Atn Intl Inc 8 13 55.260 59.620 0 1 0.0 0.0 8.20 Boingo Wireless Inc 55 43 22.500 24.770 1 1 0.0 0.0 10.09 Centurylink Inc 0 3 16.680 16.430 0 0 0.0 0.0 NA Cincinnati Bell Inc 23 21 20.850 13.850 0 0 0.0 0.0 -33.57 Cogent Comm Group In 43 40 45.300 43.400 2 2 0.0 0.0 -3.09 Consolidated Comm Hl 42 39 12.190 10.960 1 0 0.0 0.0 -7.29
104 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Telecom Services (cont.) Frontier Communicati 23 22 6.760 7.420 0 0 0.0 0.0 9.76 General Communicatio 19 0 39.020 36.280 1 0 0.0 0.0 -7.02 Hawaiian Telcom Hold 5 5 30.860 26.680 0 0 0.0 0.0 -13.55 Idt Corp 14 13 10.600 6.270 0 0 0.0 0.0 -18.51 Iridium Communicatio 15 14 11.800 11.250 0 0 0.0 0.0 -4.66 Orbcomm Inc 32 31 10.180 9.370 0 0 0.0 0.0 -7.96 Shenandoah Telecommu 56 53 33.800 36.000 2 2 0.0 0.0 6.51 Spok Hldgs Inc 12 12 15.650 14.950 0 0 0.0 0.0 -3.62 Sprint Corp 333 313 5.890 4.880 2 2 0.0 0.0 -17.15 T-Mobile US Inc 93 87 63.510 61.040 6 5 0.1 0.1 -3.89 Telephone & Data Sys 72 53 27.800 28.030 2 1 0.0 0.0 1.40 United States Cellul 14 14 37.630 40.190 1 1 0.0 0.0 6.80 Verizon Communicatio 1,049 1,093 52.930 47.820 56 52 1.1 1.0 -8.62 Vonage Hldgs Corp 156 147 10.170 10.650 2 2 0.0 0.0 4.72 Windstream Hldgs Inc 19 18 1.850 1.410 0 0 0.0 0.0 -23.78 Zayo Group Hldgs Inc 119 112 36.800 34.160 4 4 0.1 0.1 -7.17 130 117 2.5 2.2 -7.04 Utilities American Sts Wtr Co 26 24 57.910 53.060 2 1 0.0 0.0 -7.93 American Wtr Wks Co 62 62 91.490 82.130 6 5 0.1 0.1 -9.76 Aqua America Inc 147 139 39.230 34.060 6 5 0.1 0.1 -12.66 Atmos Energy Corp 34 32 85.890 84.240 3 3 0.1 0.1 -1.35
105 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Utilities (cont.) California Wtr Svc G 41 39 45.350 37.250 2 1 0.0 0.0 -17.45 Chesapeake Utils Cor 14 13 78.550 70.350 1 1 0.0 0.0 -10.03 Conn Wtr Svc Inc 13 12 57.410 60.530 1 1 0.0 0.0 6.04 Consolidated Edison 58 55 84.950 77.940 5 4 0.1 0.1 -7.40 Consolidated Water C 1 1 12.600 14.550 0 0 0.0 0.0 16.93 Eversource Energy 101 108 63.180 58.920 6 6 0.1 0.1 -5.93 Middlesex Water Co 11 10 39.910 36.700 0 0 0.0 0.0 -7.48 New Jersey Res 70 66 40.200 40.100 3 3 0.1 0.1 0.44 Northwest Nat Gas Co 18 17 59.650 57.650 1 1 0.0 0.0 -2.55 Nrg Yield Inc 24 23 18.850 16.440 0 0 0.0 0.0 -11.10 Nrg Yield Inc 43 41 18.900 17.000 1 1 0.0 0.0 -8.34 One Gas Inc 39 37 73.260 66.020 3 2 0.1 0.0 -9.25 Ormat Technologies I 40 41 63.960 56.380 3 2 0.0 0.0 -11.48 Pattern Energy Group 62 58 21.490 17.290 1 1 0.0 0.0 -17.60 Pg&E Corp 89 84 44.830 43.930 4 4 0.1 0.1 -2.01 SJW Corp 15 14 63.830 52.710 1 1 0.0 0.0 -16.98 South Jersey Inds In 56 53 31.230 28.160 2 1 0.0 0.0 -8.93 Southwest Gas Corp 25 23 80.480 67.630 2 2 0.0 0.0 -15.35 Spire Inc 34 32 75.150 72.300 3 2 0.0 0.0 -2.99 UGI Corp New 47 36 46.950 44.420 2 2 0.0 0.0 -4.85 Unitil Corp 7 6 45.620 46.410 0 0 0.0 0.0 2.59 Wgl Hldgs Inc 27 25 85.840 83.650 2 2 0.0 0.0 -1.97
106 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Utilities (cont.) York Wtr Co 8 8 33.900 31.000 0 0 0.0 0.0 -8.02 60 52 1.1 1.0 -7.52 Real Estate Alexander & Baldwin 24 32 27.740 23.130 1 1 0.0 0.0 -16.62 Altisource Portfolio 2 2 28.000 26.560 0 0 0.0 0.0 -5.14 Cbre Group Inc 121 114 43.310 47.220 5 5 0.1 0.1 9.03 Consolidated Tomoka 2 2 63.500 62.850 0 0 0.0 0.0 -0.93 Frp Hldgs Inc 3 3 44.250 56.000 0 0 0.0 0.0 26.55 Griffin Ld & Nurseri 2 2 36.700 37.530 0 0 0.0 0.0 2.26 Hff Inc 32 31 48.640 49.700 2 2 0.0 0.0 6.30 Howard Hughes Corp C 9 13 131.270 139.130 1 2 0.0 0.0 5.99 Jones Lang Lasalle I 33 31 148.930 174.640 5 5 0.1 0.1 17.26 Kennedy-Wilson Hldgs 66 17 17.350 17.400 1 0 0.0 0.0 1.38 Marcus & Millichap I 28 27 32.610 36.060 1 1 0.0 0.0 10.58 Maui Ld & Pineapple 35 33 17.300 11.650 1 0 0.0 0.0 -32.66 Mays J W Inc 1 1 38.000 37.250 0 0 0.0 0.0 -1.97 Potlatch Corp New 0 3 49.900 52.050 0 0 0.0 0.0 NA Rafael Hldgs Inc 0 7 NA 4.850 0 0 0.0 0.0 NA Re Max Hldgs Inc 13 13 48.500 60.450 1 1 0.0 0.0 25.08 Realogy Hldgs Corp 79 74 26.500 27.280 2 2 0.0 0.0 3.30 Rmr Group Inc 10 9 59.300 69.950 1 1 0.0 0.0 18.41 St Joe Corp 24 22 18.050 18.850 0 0 0.0 0.0 4.43
107 Chatham University Equity Holdings DFA US Sustainability Core Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Real Estate (cont.) Stratus Pptys Inc 1 1 29.700 30.200 0 0 0.0 0.0 1.68 Tejon Ranch Co 9 8 20.760 23.110 0 0 0.0 0.0 11.32 21 21 0.4 0.4 8.26
108 Chatham University Custom Benchmark Specification DFA US Sustainability Core Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Russell 3000 9/12 3/18 100.00 Russell 3000
109 Chatham University Fund Return Table Quarter Ended 3/31/18
Since Inception Inception Manager 1 Quarter 2 Quarters 3 Quarters 1 Year 3 Years 5 Years 3/31/08 Date Return Vanguard S-T TIPS Admiral 0.20 0.41 0.86 0.33 3/31/17 0.33 Bloomberg Barclays US 0-5 TIPS 0.21 0.42 0.90 0.40 3/31/17 0.40 Value Added -0.01 -0.00 -0.04 -0.06 -0.06
BlackRock Total Return Bond Fund -1.38 -1.13 -0.02 1.74 1.50 12/31/14 2.08 Bloomberg Aggregate -1.46 -1.08 -0.24 1.20 1.20 12/31/14 1.60 Value Added 0.08 -0.05 0.22 0.53 0.30 0.48
Vanguard HY Corp Admiral -1.45 12/31/17 -1.45 Policy Index -1.06 12/31/17 -1.06 Value Added -0.39 -0.39
Fixed Income Composite -0.78 -0.61 0.50 1.38 2.17 2.26 5.03 6/30/01 5.47 Policy Index -1.03 -0.31 0.92 1.93 2.58 2.28 5.31 6/30/01 5.51 Value Added 0.25 -0.30 -0.42 -0.56 -0.41 -0.02 -0.28 -0.04
1 Chatham University Growth of One Dollar Fixed Income Composite Quarter Ended 3/31/18
2.60
2.40
2.20
2.00
1.80
Value 1.60
1.40
1.20
1.00
0.80 3/02 3/03 3/04 3/05 3/06 3/07 3/08 3/09 3/10 3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 6/30/01 Value Total 2.17 5.47 2.44 Policy Index 2.58 5.51 2.46
2 Chatham University Value Added Analysis Fixed Income Composite Quarter Ended 3/31/18
2.5%
2.0%
1.5%
1.0%
0.55
0.5% 0.48 0.33 0.28 0.26 0.26 0.14 0.09 0.05 0.0% -0.04 -0.05 -0.11 -0.1 -0.1 -0.14 -0.11 -0.28 -0.5% -0.45 -0.56 -0.67 -1.0%
-1.5% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. Policy Index Cumulative Value Added 2 Yr Rolling Avg (Annualized)
3 Chatham University Performance Comparison TUCS Total Ret of Fixed Income Investment Pools Periods Ended 3/31/18 9% 8% 7% 6% 1 5% l
4% 1 3% l 5th 1 l 1 2% 1 l l Rate of Return 1% 1 l 0% 25th Med 1 -1% l l 75th 1 -2% -3% -4% 95th Manager returns are Gross of Fees 1 Quarter 2 Quarters 3 Quarters 1 Year 2 Years 3 Years 5 Years 10 Years
l Fixed Income Composite -0.78 (53) -0.61 (61) 0.50 (60) 1.38 (83) 3.09 (50) 2.17 (56) 2.26 (70) 5.03 (35) 1 Policy Index -1.03 (63) -0.31 (54) 0.92 (47) 1.93 (65) 4.02 (26) 2.58 (39) 2.28 (70) 5.31 (23)
Median -0.62 -0.21 0.85 2.85 3.15 2.33 2.54 4.75 Number of Funds 109 104 95 94 82 78 69 48
4 Chatham University Performance Comparison Total Returns of Lipper Fixed Income Mutual Funds Periods Ended 3/31/18 11% 10% 9% 8% 7% 6% 5% 4% 3% Rate of Return 2% ⊕ ⊕ ⊕ 1% 5th 1 1 1 0% ⊕ 25th 1 Med -1% ⊕ 1 75th ⊕ 1 -2% 95th -3% Manager returns are Gross of Fees 1 Quarter 2 Quarters 3 Quarters 1 Year 2 Years 3 Years 5 Years 10 Years
⊕ BlackRock Total Return B -1.38 (72) -1.13 (74) -0.02 (64) 1.74 (49) 1.90 (55) 1.50 (53) 1 Bloomberg Aggreg -1.46 (76) -1.08 (72) -0.24 (72) 1.20 (60) 0.82 (75) 1.20 (60)
Median -0.87 -0.53 0.47 1.69 2.42 1.64 1.87 3.83 Number of Funds 3429 3335 3294 3190 2974 2758 2340 1526
5 Chatham University Performance Comparison Total Returns of Lipper TIPS Mutual Funds Periods Ended 3/31/18 5.0% 4.5% 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% v 1 Rate of Return 0.5% 5th v 1 v 1 0.0% v 1 25th -0.5% Med -1.0% 75th 95th -1.5% -2.0% Manager returns are Gross of Fees 1 Quarter 2 Quarters 3 Quarters 1 Year 2 Years 3 Years 5 Years 10 Years
v Vanguard S-T TIPS Admira 0.20 (13) 0.41 (39) 0.86 (63) 0.33 (66) 1 Bloomberg Barcla 0.21 (11) 0.42 (37) 0.90 (62) 0.40 (59)
Median -0.75 0.33 1.10 0.62 1.08 1.02 -0.40 2.27 Number of Funds 249 249 244 236 224 211 167 103
6 Chatham University Fixed Income Structural Characteristics Fixed Income Composite Quarter Ended 3/31/18
# Maturity Sectors Quarter $(MIL) Bond <1 1-10 10-20 >20 QLTY FIN FOR GA IND MISC MTGETRAN UTL 06/30/07 7.5 317 22.2 69.3 2.1 6.4 AA 36 1 8 5 3 45 0 2 09/30/07 7.7 331 14.9 73.7 3.2 8.2 AA 31 1 7 6 4 48 0 2 12/31/07 9.8 323 15.9 73.5 1.7 8.9 AA 34 1 6 7 0 50 0 2 03/31/08 9.2 75 29.4 50.1 0.0 20.5 AA 17 7 4 13 0 54 0 6 06/30/08 8.8 315 12.6 69.8 4.4 13.2 AA 31 0 5 9 3 51 0 0 09/30/08 7.5 313 11.5 75.6 3.5 9.5 AA 30 0 7 7 1 54 0 2 12/31/08 7.0 325 18.8 66.9 4.2 10.1 AA 27 0 7 9 1 55 0 1 03/31/09 7.0 319 18.7 71.6 3.0 6.7 AA 24 0 17 10 1 46 1 1 06/30/09 7.9 400 7.2 73.3 12.9 6.6 A 16 0 37 27 1 15 1 3 09/30/09 6.9 646 5.8 75.4 13.2 5.6 A 15 1 39 30 2 11 0 3 12/31/09 6.8 696 5.9 75.4 14.7 4.0 A 12 1 40 30 3 11 0 3 03/31/10 6.4 676 5.5 75.9 14.9 3.7 A 10 0 42 33 3 9 0 4 06/30/10 6.2 6,050 3.4 81.8 16.6 2.6 A 10 2 49 29 4 2 0 4 09/30/10 6.5 6,892 4.3 83.7 14.6 2.8 A 11 5 43 30 0 7 0 3 12/31/10 7.2 6,833 3.1 87.7 11.9 2.9 A 13 4 39 25 1 15 0 4 03/31/11 7.4 7,094 11.2 82.5 10.2 2.3 A 14 5 31 25 13 9 0 4 06/30/11 10.1 7,168 8.1 82.6 14.8 2.3 AA 12 9 37 17 14 8 0 3 09/30/11 9.6 7,306 0.8 85.9 16.5 3.7 A 10 11 47 18 2 12 0 4 12/31/11 9.6 7,241 0.6 85.7 16.4 3.8 A 10 8 51 19 2 14 0 3 03/31/12 9.4 6,395 1.4 87.8 13.4 3.4 A 9 4 52 21 1 14 1 4 06/30/12 9.0 6,398 1.2 88.3 11.5 4.6 A 9 4 49 22 1 16 1 4 09/30/12 8.9 6,805 1.2 89.5 12.9 3.2 A 9 5 45 23 1 14 1 4 12/31/12 6.8 6,572 0.5 110.9 11.2 1.9 BBB 9 6 31 35 1 14 1 3 03/31/13 6.7 269 1.6 84.9 11.2 2.2 BB 5 0 21 36 0 0 1 5 Policy Index NA NA 0.0 88.2 3.4 8.4 A 5 1 47 33 0 12 1 1
8 Chatham University Fixed Income Structural Characteristics Fixed Income Composite Quarter Ended 3/31/18
# Maturity Sectors Quarter $(MIL) Bond <1 1-10 10-20 >20 QLTY FIN FOR GA IND MISC MTGETRAN UTL 06/30/13 6.5 5,818 1.4 111.6 9.8 1.2 BBB 8 4 32 36 2 12 1 5 09/30/13 6.6 5,633 0.9 99.4 8.3 0.0 BB 8 3 31 36 2 11 1 5 12/31/13 9.3 5,525 1.1 111.3 10.5 0.7 A 7 4 32 27 0 11 1 4 03/31/14 10.0 5,681 1.5 112.8 9.8 1.2 BBB 7 6 45 26 4 8 1 3 06/30/14 11.9 6,282 1.5 108.4 9.9 3.0 A 7 9 49 25 0 7 1 4 09/30/14 11.8 6,234 0.8 109.1 10.5 3.9 A 8 7 46 24 3 7 1 5 12/31/14 11.8 290 0.1 85.3 10.2 4.5 A 4 1 33 22 0 0 1 5 03/31/15 12.0 1,473 3.3 95.4 -8.6 9.9 BBB 15 4 25 35 5 6 2 8 06/30/15 11.9 1,225 2.8 82.7 6.5 8.0 A 10 2 45 28 2 4 1 6 09/30/15 11.7 1,264 1.8 84.3 6.4 7.5 BBB 11 2 46 28 2 4 1 6 12/31/15 11.6 1,334 1.3 85.9 5.3 7.5 A 9 2 49 28 2 2 1 6 03/31/16 11.9 1,236 1.5 85.3 4.5 8.7 A 8 2 50 28 2 2 1 6 06/30/16 9.5 1,417 2.2 82.0 5.2 10.6 A 9 2 58 20 3 2 1 5 09/30/16 9.6 1,534 3.1 81.2 5.2 10.5 A 10 2 56 21 3 2 1 5 12/31/16 9.4 1,447 3.6 79.5 5.2 11.7 A 11 2 56 21 3 3 1 4 03/31/17 9.8 1,216 6.7 78.3 3.1 11.8 BBB 12 4 16 21 2 2 1 4 06/30/17 9.4 1,463 14.1 78.0 2.1 5.8 A 10 4 56 21 3 2 1 4 09/30/17 9.4 876 9.4 80.7 3.5 6.4 AA 6 2 61 4 1 2 0 1 12/31/17 9.4 1,071 8.6 83.3 2.3 5.9 A 5 3 65 20 2 0 1 4 03/31/18 9.3 1,365 9.4 78.4 2.9 9.3 A 8 4 54 23 2 2 1 5
Policy Index NA NA 0.0 88.2 3.4 8.4 A 5 1 47 33 0 12 1 1
9 Chatham University Custom Benchmark Specification Fixed Income Composite Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Policy Index 6/01 6/09 100.00 Bloomberg Aggregate 9/09 3/18 34.00 Bloomberg Aggregate 33.00 CS High Yield 33.00 Bloomberg U.S. TIPS
10 Chatham University Growth of One Dollar Vanguard S-T TIPS Admiral Quarter Ended 3/31/18
1.10
1.00 Value
0.90 3/17 6/17 9/17 12/17 3/18
Return $ Legend 1 Year Inception 3/31/17 Value Total 0.33 0.33 1.00 Bloomberg Barclays US 0-5 TIPS 0.40 0.40 1.00
1 Chatham University Value Added Analysis Vanguard S-T TIPS Admiral Quarter Ended 3/31/18
1.5%
1.0% 0.99
0.5%
0.0%
-0.12
-0.5% -0.42
-1.0% -1.05
-1.5%
-2.0% 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. Bloomberg U.S. TIPS Cumulative Value Added
2 Chatham University Fixed Income Portfolio Characteristics Vanguard S-T TIPS Admiral vs. Bloomberg U.S. TIPS 9.0 12.0 Effective Duration Years to Effective Maturity
4.5 6.0
0.0 0.0 Date 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18 Date 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18 Port 2.53 2.62 2.72 2.52 2.34 Port 2.58 2.66 2.76 2.55 2.37 Index 5.26 6.59 4.87 5.72 5.38 6.01 5.84 5.01 Index 8.71 8.61 8.25 8.31 8.48 8.34 8.27 8.21
6.0 3.0 Yield to Effective Maturity Current Yield
3.0 1.5
0.0 0.0 Date 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18 Date 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18 Port 1.52 1.56 1.60 1.92 2.43 Port 0.60 0.70 0.53 0.52 0.49 Index 1.47 1.62 2.20 2.27 2.23 2.38 2.34 2.80 Index 0.83 0.78 0.79 0.76 0.79 0.76 0.75 0.74 Portfolio Index 3 Chatham University Fixed Income Structural Characteristics Vanguard S-T TIPS Admiral Quarter Ended 3/31/18
# Maturity Sectors Quarter $(MIL) Bond <1 1-10 10-20 >20 QLTY FIN FOR GA IND MISC MTGETRAN UTL 03/31/17 3.8 15 15.0 85.0 0.0 0.0 AAA 0 0 100 0 0 0 0 0 06/30/17 3.7 16 22.8 77.2 0.0 0.0 AAA 0 0 100 0 0 0 0 0 09/30/17 3.7 15 16.3 83.7 0.0 0.0 AAA 0 0 100 0 0 0 0 0 12/31/17 3.8 18 15.9 84.1 0.0 0.0 AAA 0 0 100 0 0 0 0 0 03/31/18 3.8 17 16.3 83.7 0.0 0.0 AAA 0 0 100 0 0 0 0 0
Bloomberg U.S. TIPS 1,160,585.0 39 0.0 81.3 5.9 12.8 AAA 0 0 100 0 0 0 0 0
4 Chatham University Fixed Income Percent Invested by Sectors Vanguard S-T TIPS Admiral Quarter Ended 3/31/18
Moody's Quality Ratings Name Aaa Aa A Baa Ba B Other NR Total Government 100.00 ------100.00 Treasury 100.00 ------100.00 Agency ------
Corporate ------Industrial ------Utility ------Finance ------Yankee ------
Transportation ------
Mortgage ------GNMA ------FHLMC ------FNMA ------Other Mortgage ------
Municipals ------
Cash ------
Other ------Total 100.00 ------100.00
5 Chatham University Fixed Income Return Analysis Vanguard S-T TIPS Admiral Quarter Ended 3/31/18
Fixed Net Management Effect Bloomberg Income Interest Rate Quarter Aggregate Style Index* Return Anticipation Sector/Issue Trading Total 06/17 1.45 -1.85 -0.40 -0.52 0.34 -1.11 0.66 -0.12 09/17 0.85 0.02 0.86 0.45 -0.31 -0.12 0.01 -0.42 12/17 0.39 0.87 1.26 0.21 -0.54 -1.28 0.77 -1.05
03/18 -1.46 0.67 -0.79 0.16 0.65 -0.21 0.51 0.95
From Inception 1.20 -0.28 0.92 0.30 0.14 -2.70 1.94 -0.62
Index* : Bloomberg U.S. TIPS 6 Chatham University Fixed Income Portfolio Activity Vanguard S-T TIPS Admiral Quarter Ended 3/31/18
Additions Deletions Security Name Coupon Maturity Quantity $(000) New Security Name Coupon Maturity Quantity $(000) Elim United States Treas 0.13 4/15/19 13 13 United States Treas 1.63 1/15/18 106 106 * United States Treas 1.38 7/15/18 4 4 United States Treas 2.13 1/15/19 4 4 United States Treas 0.13 4/15/20 13 13 United States Treas 1.88 7/15/19 4 4 United States Treas 1.38 1/15/20 5 5 United States Treas 1.25 7/15/20 7 8 United States Treas 1.13 1/15/21 8 8 United States Treas 0.13 4/15/21 11 11 United States Treas 0.63 7/15/21 9 9 United States Treas 0.13 1/15/22 10 10 United States Treas 0.13 7/15/22 11 11 United States Treas 0.13 4/15/18 13 13 United States Treas 0.13 4/15/22 13 13
Purchase Turnover Sales Turnover
7 Chatham University Fixed Income Holdings Vanguard S-T TIPS Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Government & Agency United States Treas 1.63 1/15/18 106 0 Aaa AA+ NA 0.05 1.77 0 0.00 NA United States Treas 0.13 4/15/18 383 396 Aaa AA+ 4/15/18 0.04 3.21 397 10.55 0.26 United States Treas 1.38 7/15/18 108 111 Aaa AA+ 7/15/18 0.29 1.77 112 2.99 0.23 United States Treas 2.13 1/15/19 99 103 Aaa AA+ 1/15/19 0.78 2.06 105 2.79 0.22 United States Treas 0.13 4/15/19 385 397 Aaa AA+ 4/15/19 1.03 2.14 397 10.55 0.18 United States Treas 1.88 7/15/19 113 117 Aaa AA+ 7/15/19 1.27 2.20 120 3.20 0.04 United States Treas 1.38 1/15/20 138 143 Aaa AA+ 1/15/20 1.76 2.27 146 3.89 -0.12 United States Treas 0.13 4/15/20 385 398 Aaa AA+ 4/15/20 2.02 2.30 396 10.53 -0.15 United States Treas 1.25 7/15/20 214 222 Aaa AA+ 7/15/20 2.24 2.34 228 6.06 -0.28 United States Treas 1.13 1/15/21 246 254 Aaa AA+ 1/15/21 2.72 2.38 260 6.92 -0.41 United States Treas 0.13 4/15/21 338 350 Aaa AA+ 4/15/21 3.00 2.41 347 9.22 -0.41 United States Treas 0.63 7/15/21 269 278 Aaa AA+ 7/15/21 3.22 2.44 282 7.49 -0.55 United States Treas 0.13 1/15/22 298 308 Aaa AA+ 1/15/22 3.74 2.49 305 8.11 -0.63 United States Treas 0.13 4/15/22 338 351 Aaa AA+ 4/15/22 3.98 2.51 346 9.19 -0.68 United States Treas 0.13 7/15/22 312 323 Aaa AA+ 7/15/22 4.23 2.52 320 8.51 -0.84 3,761 100.00
Total Portfolio -0.35
8 Chatham University Custom Benchmark Specification Vanguard S-T TIPS Admiral Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Bloomberg Barclays US 0-5 TIPS 3/17 3/18 100.00 Bloomberg Barclays US 0-5 TIPS
9 Chatham University Growth of One Dollar BlackRock Total Return Bond Fund Quarter Ended 3/31/18
1.10
1.00 Value
0.90 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 12/31/14 Value Total 1.50 2.08 1.07 Bloomberg Aggregate 1.20 1.60 1.05
1 Chatham University Value Added Analysis BlackRock Total Return Bond Fund Quarter Ended 3/31/18
1.8%
1.6%
1.4%
1.2%
1.0%
0.8%
0.65 0.62 0.6%
0.4% 0.36 0.33 0.32 0.28 0.27 0.2% 0.08 0.04 -0.0%
-0.2% -0.13 -0.13
-0.4%
-0.6% -0.49
-0.67 -0.8% 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. Bloomberg Aggregate Cumulative Value Added 2 Yr Rolling Avg (Annualized)
2 Chatham University Fixed Income Structural Characteristics BlackRock Total Return Bond Fund Quarter Ended 3/31/18
# Maturity Sectors Quarter $(MIL) Bond <1 1-10 10-20 >20 QLTY FIN FOR GA IND MISC MTGETRAN UTL 03/31/15 4.0 1,167 26.4 238.7 -245.0 79.8 A 97 24 -209 55 45 64 2 22 06/30/15 3.9 998 3.0 77.7 4.9 14.4 A 21 3 37 14 6 13 1 6 09/30/15 3.9 916 3.9 78.5 4.6 13.0 A 21 3 38 14 4 13 1 6 12/31/15 3.8 964 2.2 81.2 3.7 12.9 A 16 3 47 16 4 7 1 6 03/31/16 3.9 856 2.5 77.5 3.9 16.0 A 12 2 51 17 6 6 1 5 06/30/16 3.8 1,026 3.3 77.7 3.9 15.1 A 15 3 47 17 7 6 1 5 09/30/16 3.8 1,136 4.1 76.9 3.7 15.3 A 16 4 42 19 7 6 1 6 12/31/16 3.7 1,041 5.0 71.4 4.4 19.2 A 20 4 44 16 6 7 1 3 03/31/17 3.9 954 4.5 73.2 4.2 18.1 A 22 7 40 16 5 6 2 3 06/30/17 3.5 1,061 3.3 75.3 5.2 16.2 A 17 7 42 16 6 5 2 4 09/30/17 3.5 1,046 2.0 77.5 7.2 13.3 A 15 5 58 10 4 5 1 2 12/31/17 3.5 842 1.1 81.4 3.7 13.8 AA 8 4 67 12 5 0 1 3 03/31/18 3.4 907 3.2 66.4 6.3 24.1 A 16 7 36 22 6 6 2 7
Bloomberg Aggregate NA NA 0.0 83.9 3.8 12.4 AA 9 3 42 15 0 30 0 2
3 Chatham University Fixed Income Percent Invested by Sectors BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Moody's Quality Ratings Name Aaa Aa A Baa Ba B Other NR Total Government 35.52 0.07 --- 0.13 0.01 ------35.73 Treasury 35.38 ------35.38 Agency 0.14 0.07 --- 0.13 0.01 ------0.35
Corporate 0.90 1.63 15.73 25.81 3.94 1.56 0.42 1.20 51.19 Industrial 0.89 1.31 4.65 11.08 2.45 0.50 0.24 0.52 21.64 Utility --- 0.10 0.59 5.61 0.10 0.08 0.09 0.02 6.59 Finance 0.01 0.22 8.52 6.26 0.66 0.18 0.09 0.31 16.25 Yankee ------1.97 2.86 0.74 0.80 --- 0.35 6.72
Transportation ------0.25 1.13 --- 0.09 0.01 0.03 1.51
Mortgage 2.05 1.56 0.23 0.37 0.05 0.00 --- 1.40 5.66 GNMA ------FHLMC 0.14 ------0.14 FNMA 0.02 ------0.02 Other Mortgage 1.89 1.56 0.23 0.37 0.05 0.00 --- 1.40 5.50
Municipals 0.17 3.08 1.17 0.25 --- 0.18 0.07 0.27 5.19
Cash 0.48 --- 0.01 0.05 ------0.19 0.73
Other ------Total 39.11 6.34 17.38 27.74 4.00 1.83 0.50 3.10 100.00
4 Chatham University Fixed Income Return Analysis BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Fixed Net Management Effect Bloomberg Income Interest Rate Quarter Aggregate Style Index* Return Anticipation Sector/Issue Trading Total 03/15 1.61 0.00 1.61 2.26 NA NA NA 0.65 06/15 -1.68 0.00 -1.68 -1.81 -0.18 0.52 -0.47 -0.13 09/15 1.23 0.00 1.23 0.56 0.11 -0.64 -0.15 -0.67 12/15 -0.57 0.00 -0.57 -0.77 -0.06 0.22 -0.37 -0.20 2015 0.55 0.00 0.55 0.18 NA NA NA -0.37 03/16 3.03 0.00 3.03 2.54 0.38 0.11 -0.98 -0.49 06/16 2.21 0.00 2.21 2.57 0.35 -0.18 0.19 0.36 09/16 0.46 0.00 0.46 0.79 0.07 0.05 0.21 0.33 12/16 -2.98 0.00 -2.98 -2.36 -0.54 0.04 1.12 0.62 2016 2.65 0.00 2.65 3.51 0.25 0.02 0.53 0.86 03/17 0.82 0.00 0.82 1.09 0.07 0.20 0.00 0.27 06/17 1.45 0.00 1.45 1.76 0.14 0.32 -0.14 0.32 09/17 0.85 0.00 0.85 1.12 0.04 0.24 -0.02 0.27 12/17 0.39 0.00 0.39 0.26 0.00 0.05 -0.18 -0.13 2017 3.54 0.00 3.54 4.29 0.25 0.82 -0.34 0.75 03/18 -1.46 0.00 -1.46 -1.38 -0.01 -0.14 0.23 0.08
From Inception 1.60 0.00 1.60 2.00 0.40 From 03/15 1.20 0.00 1.20 1.41 0.13 0.26 -0.18 0.21
Index* : Bloomberg Aggregate 5 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Asset Backed Sprint Spectrum Co L 3.36 3/20/23 0 9 Baa2 NR 3/20/23 4.51 3.51 9 0.26 NA United Airlines P-B 4.75 10/11/23 0 0 NR BBB- 4/11/19 0.89 2.99 0 0.01 -0.63 Union Pacific Rai- 3.23 5/14/26 1 2 Aa2 AA 11/15/22 4.25 3.66 2 0.05 -2.97 American Airlines- 3.38 11/01/28 2 4 A A 11/01/24 5.71 3.79 4 0.12 -1.44 Morgan Stanley Ba-A- 3.53 10/19/48 0 0 Aaa NR 10/19/48 14.76 0.47 0 0.01 NA 15 0.45 Finance Westpac Bkg Corp 144 5.00 0/00/00 0 0 Baa2 BB+ NA NA 0.00 0 0.00 NA Hsbc Hldgs Plc Coco 6.25 0/00/00 0 1 Baa3 NR 9/23/25 7.04 5.88 1 0.03 NA Hsbc Hldgs Plc Alt T 6.00 0/00/00 0 5 Baa3 NR NA NA 0.00 5 0.14 NA Lloyds Banking Group 6.66 0/00/00 0 0 Baa3 BB NA NA 0.00 0 0.00 NA Lloyds Banking Group 6.41 0/00/00 0 0 Baa3 BB NA NA 0.00 0 0.01 NA Ing Groep N V Alt Ti 6.00 0/00/00 0 0 Ba1 BB NA NA 0.00 0 0.01 NA Hsbc Hldgs Plc Coco 6.50 0/00/00 0 1 Baa3 NR 3/23/32 9.77 6.28 1 0.02 NA Woori Bk Glbl Medium 4.50 0/00/00 0 1 Ba3 BB+ NA NA 0.00 1 0.02 NA Hsbc Hldgs Plc Alt T 6.38 0/00/00 0 0 Baa3 NR 3/17/28 8.21 6.20 0 0.01 NA Lloyds Banking Group 6.66 0/00/00 0 1 Baa3 BB NA NA 0.00 1 0.02 NA Bank New York Mellon 4.63 0/00/00 0 3 Baa1 BBB NA NA 0.00 3 0.09 NA Macquarie Bk Ltd Fr 6.13 0/00/00 0 1 Ba1 BB NA NA 0.00 1 0.02 NA Wellpoint Inc Sr Glb 1.88 1/15/18 3 0 Baa2 A NA 0.04 2.02 0 0.00 NA Citigroup Inc Fr 1.8 1.80 2/05/18 2 0 Baa1 BBB+ NA 0.10 1.89 0 0.00 NA Wellpoint Inc Sr Glb 2.30 7/15/18 4 7 Baa2 A 7/15/18 0.29 2.59 7 0.20 0.26
6 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Finance (cont.) Bb&T Brh Bkg & Tr Co 2.30 10/15/18 0 1 A1 A 10/15/18 0.53 2.44 1 0.03 0.31 Gaming & Leisure P S 4.38 11/01/18 0 0 Ba1 BBB- 11/01/18 0.75 3.46 0 0.00 0.52 Citizens Bank N A F 2.30 12/03/18 1 1 Baa1 A- 12/03/18 0.66 2.82 1 0.04 0.16 General Mtrs Finl Co 3.10 1/15/19 0 1 Baa3 BBB 1/15/19 0.77 2.96 1 0.02 0.34 Goldman Sachs Group 2.63 1/31/19 3 5 A3 BBB+ 1/31/19 0.82 2.69 5 0.14 0.16 Goldman Sachs Group 2.00 4/25/19 1 1 A3 BBB+ 4/25/19 1.04 2.77 1 0.03 -0.01 Citigroup Inc Sr Nt 2.50 7/29/19 3 5 Baa1 BBB+ 7/29/19 1.29 2.81 5 0.15 -0.10 American Express Cr 2.25 8/15/19 2 3 A2 A- 8/15/19 1.34 2.68 3 0.09 -0.24 Sumitomo Mitsui Tr B 1.95 9/19/19 4 7 A1 A 9/19/19 1.45 3.16 7 0.21 -0.43 Rabobank Nederland N 2.25 1/14/20 0 6 Aa3 A+ 1/14/20 1.73 2.99 6 0.17 NA Bb&T Corporation Fr 2.45 1/15/20 1 2 A2 A- 1/15/20 1.73 2.93 2 0.06 -0.56 Citizens Bank N A F 2.25 3/02/20 4 7 Baa1 A- 3/02/20 1.86 3.18 7 0.20 -0.68 Hsbc Usa Inc New Fr 2.35 3/05/20 0 12 A2 A 3/05/20 1.87 3.05 12 0.34 NA Credit Suisse Grp Fd 2.75 3/26/20 2 5 Baa2 BBB+ 3/26/20 1.92 3.25 5 0.15 -0.67 Ubs Ag Stamford Brh 2.35 3/26/20 0 3 A1 A+ 3/26/20 1.92 3.08 3 0.08 NA Bank Amer Corp Fr 2. 2.25 4/21/20 2 4 A3 A- 4/21/20 1.97 2.98 3 0.10 -0.97 Goldman Sachs Group 2.60 4/23/20 1 2 A3 BBB+ 4/23/20 1.97 3.07 2 0.07 -0.42 Ambac Assurn Corp Sr 5.10 6/07/20 0 0 NR NR 6/07/20 2.16 -8.07 0 0.01 NA Morgan Stanley Fr 2. 2.80 6/16/20 2 4 A3 BBB+ 6/16/20 2.11 3.12 4 0.12 -0.87 Unitedhealth Group I 2.70 7/15/20 0 1 A3 A+ 7/15/20 2.19 2.90 1 0.02 -0.92 Wells Fargo Co Mtn B 2.60 7/22/20 1 2 A2 A- 7/22/20 2.21 3.03 2 0.06 -0.92 Hsbc Usa Inc New Sr 2.75 8/07/20 0 1 A2 A 8/07/20 2.25 3.08 1 0.04 NA
7 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Finance (cont.) Goldman Sachs Group 2.75 9/15/20 1 1 A3 BBB+ 9/15/20 2.35 3.18 1 0.03 -0.83 Reynolds Group Issue 5.75 10/15/20 2 3 B1 B+ 10/15/20 2.28 5.22 3 0.09 1.15 Bank Amer Corp Fr 2. 2.63 10/19/20 0 12 A3 A- 10/19/20 2.42 2.91 12 0.34 NA General Mtrs Finl Co 3.70 11/24/20 1 8 Baa3 BBB 11/24/20 2.48 3.34 8 0.23 -0.82 Wells Fargo Co Mtn B 2.55 12/07/20 1 2 A2 A- 12/07/20 2.55 3.22 2 0.05 -1.49 American Tower Corp 3.30 2/15/21 1 1 Baa3 BBB- 2/15/21 2.71 3.31 1 0.04 -1.02 Goldman Sachs Group 2.63 4/25/21 1 2 A3 BBB+ 4/25/21 2.89 3.34 2 0.07 -1.34 Petrobras Glbl Fin B 8.38 5/23/21 1 1 Ba3 BB- 5/23/21 2.73 3.67 1 0.02 1.64 Fifth Third Bk Cin O 2.25 6/14/21 2 3 A3 A- 6/14/21 3.04 3.19 3 0.10 -1.34 General Mtrs Finl Co 3.20 7/06/21 4 7 Baa3 BBB 7/06/21 3.05 3.48 7 0.21 -1.04 Bank Amer Corp Sr Fi 2.37 7/21/21 7 13 A3 A- 7/21/21 3.19 2.97 13 0.37 -0.36 Wells Fargo & Co New 2.10 7/26/21 1 2 A2 A- 7/26/21 3.16 3.20 2 0.05 -1.26 Santander Uk Plc Sr 2.88 8/05/21 4 7 Baa1 BBB 8/05/21 3.14 3.54 7 0.20 -1.12 American Tower Corp 3.45 9/15/21 1 1 Baa3 BBB- 9/15/21 3.23 3.39 1 0.04 -1.14 Bank Amer Corp Sr Nt 2.33 10/01/21 14 25 A3 A- 10/01/21 2.91 3.11 24 0.71 -0.50 Credit Suisse New Yo 3.00 10/29/21 1 1 A1 A 10/29/21 3.32 3.29 1 0.04 -1.26 Goldman Sachs Group 2.35 11/15/21 4 7 A3 BBB+ 11/15/21 3.31 3.41 7 0.20 -1.50 Citigroup Inc Sr Nt 2.90 12/08/21 5 8 Baa1 BBB+ 12/08/21 3.44 3.34 8 0.25 -1.45 Hsbc Hldgs Plc Sr Gl 2.65 1/05/22 7 12 A2 A 1/05/22 3.52 3.44 12 0.36 -1.46 Ford Motor Credit Co 3.22 1/09/22 8 15 Baa2 BBB 1/09/22 3.49 3.70 15 0.43 -1.50 Mitsubishi Ufj Finl 3.00 2/22/22 3 6 A1 A- 2/22/22 3.63 3.36 6 0.17 -1.21 Mizuho Finl Group In 2.95 2/28/22 10 17 A1 A- 2/28/22 3.65 3.42 17 0.50 -1.06
8 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Finance (cont.) Santander Hldgs Usa 3.70 3/28/22 0 2 Baa3 BBB 3/28/22 3.68 3.64 2 0.05 NA Santander Hldgs Usa 3.70 3/28/22 1 0 Baa3 BBB 3/28/22 3.87 3.39 0 0.00 -0.08 Tarjetas Naranja Sa 0.00 4/11/22 1 0 B2 NR 4/11/21 0.03 0.85 0 0.00 -13.62 Numericable Group Sa 6.00 5/15/22 0 0 B1 B+ 5/15/22 3.56 6.63 0 0.00 NA Woori Bk Glbl Medium 5.25 5/16/22 1 1 Ba3 BB+ 5/16/22 3.76 5.56 1 0.03 -1.55 Morgan Stanley Fr 2. 2.75 5/19/22 9 16 A3 BBB+ 5/19/22 3.83 3.40 16 0.47 -1.44 Bpce Sr Non Pfd Med 3.00 5/22/22 2 4 Baa3 BBB+ 5/22/22 3.82 3.54 4 0.12 -1.26 Citizens Bank N A S 2.65 5/26/22 4 7 Baa1 A- 5/26/22 3.86 3.46 7 0.20 -1.54 Intesa Sanpaolo S P 3.13 7/14/22 4 6 Baa1 BBB 7/14/22 3.94 3.98 6 0.19 -1.88 Hovnanian K Enterpri 10.00 7/15/22 1 2 Caa2 CCC+ 7/15/20 2.41 8.03 2 0.06 -1.19 U S Bancorp Mtn Sub 2.95 7/15/22 2 3 A1 A- 7/15/22 3.97 3.31 3 0.10 -2.01 Wells Fargo & Co Fr 2.63 7/22/22 6 11 A2 A- 7/22/22 4.01 3.45 11 0.33 -2.10 Credivalores - Credi 9.75 7/27/22 1 1 NR B+ 7/27/22 3.40 9.09 1 0.03 0.93 Bank Amer Corp Fr 3. 3.30 1/11/23 2 4 A3 A- 1/11/23 4.36 3.37 4 0.11 -1.74 Jpmorgan Chase Sr Nt 2.97 1/15/23 9 15 A3 A- 7/15/22 4.09 3.45 15 0.45 -2.00 Santander Hldgs Usa 3.40 1/18/23 3 0 Baa3 BBB 1/18/23 4.59 3.80 0 0.00 0.34 Santander Hldgs Usa 3.40 1/18/23 0 5 Baa3 BBB 1/18/22 3.47 4.25 5 0.16 NA Ambac Lsni Llc Sr Se 6.81 2/12/23 0 1 NR NR 9/30/20 0.45 6.42 1 0.04 NA Altice Financing S.A 6.63 2/15/23 0 1 B1 BB- 4/01/22 3.45 7.55 1 0.02 -3.89 Morgan Stanley Sr Nt 3.75 2/25/23 2 3 A3 BBB+ 2/25/23 4.43 3.51 3 0.08 -1.59 Citigroup Inc Sub Nt 3.50 5/15/23 1 2 Baa3 BBB 5/15/23 4.58 3.76 2 0.06 -2.08 Macquarie Grp Ltd Sr 3.19 11/28/23 1 0 A3 BBB 11/28/23 5.22 3.91 0 0.01 -2.14
9 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Finance (cont.) Bnp Paribas Fr 3.8%0 3.80 1/10/24 1 3 Baa1 A- 1/10/24 5.10 3.85 3 0.07 -2.67 American Tower Corp 5.00 2/15/24 0 0 Baa3 BBB- 2/15/24 5.05 3.93 0 0.01 -2.50 Woori Bk Glbl Medium 4.75 4/30/24 0 1 Ba1 BBB 4/30/24 5.15 4.36 1 0.03 -1.44 Willis North Amer In 3.60 5/15/24 4 8 Baa3 BBB 5/15/24 5.36 3.90 7 0.22 -2.36 Intesa Sanpaolo S P 5.02 6/26/24 4 7 Ba1 BB+ 6/26/24 5.22 5.28 7 0.22 -2.46 Hovnanian K Enterpri 10.50 7/15/24 1 1 Caa2 CCC+ 7/15/22 3.65 10.04 1 0.03 -7.76 Morgan Stanley Fr 3. 3.70 10/23/24 2 3 A3 BBB+ 10/23/24 5.68 3.78 3 0.09 -2.81 General Mtrs Finl Co 4.00 1/15/25 2 3 Baa3 BBB 1/15/25 5.84 4.24 3 0.09 -3.09 Citigroup Inc Fr 3.8 3.88 3/26/25 1 2 Baa3 BBB 3/26/25 6.05 4.05 2 0.07 -2.39 Cigna Corporation Sr 3.25 4/15/25 2 3 Baa1 A 4/15/25 6.10 4.00 3 0.09 -4.24 Jpmorgan Chase & Co 3.90 7/15/25 1 2 A3 A- 7/15/25 6.25 3.77 2 0.06 -2.92 Bank Amer Corp Fr 3. 3.88 8/01/25 4 6 A3 A- 8/01/25 6.30 3.75 6 0.19 -3.57 Ubs Group Ag Sr Glbl 4.13 9/24/25 1 1 Baa1 A- 9/24/25 6.38 4.04 1 0.04 -0.92 Boston Pptys Ltd Par 3.65 2/01/26 2 4 Baa1 A- 2/01/26 6.70 3.98 4 0.11 -2.86 American Tower Corp 4.40 2/15/26 0 0 Baa3 BBB- 2/15/26 6.57 4.24 0 0.01 -2.87 Marsh & McLennan Cos 3.75 3/14/26 0 0 Baa1 A- 3/14/26 6.81 3.75 0 0.01 -3.39 Bank Amer Corp Fr 3. 3.50 4/19/26 3 5 A3 A- 4/19/26 6.83 3.75 5 0.15 -3.05 Numericable Group Sa 7.38 5/01/26 1 1 B1 B+ 5/01/26 5.66 8.19 1 0.02 -5.41 Altice Financing S.A 7.50 5/15/26 1 2 B1 BB- 7/15/23 4.62 7.96 2 0.05 -6.24 State Str Corp Sr Gl 2.65 5/19/26 1 1 A1 A 5/19/26 7.13 3.59 1 0.04 -3.31 Lloyds Bkg Group Plc 3.75 1/11/27 1 2 A3 BBB+ 1/11/27 7.31 4.20 2 0.07 -3.83 Discover Finl Svcs S 4.10 2/09/27 1 1 Ba1 BBB- 2/09/27 7.31 4.21 1 0.04 -2.17
10 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Finance (cont.) Petroleos Mexicanos 6.50 3/13/27 2 0 Baa3 BBB+ 3/13/27 6.86 5.21 0 0.00 -0.82 U S Bancorp Mtns Bk 3.15 4/27/27 1 2 A1 A+ 4/27/27 7.68 3.65 2 0.05 -3.26 American Express Cr 3.30 5/03/27 1 1 A2 A- 5/03/27 7.66 3.70 1 0.03 -3.70 Bank Amer Corp Fr 3. 3.25 10/21/27 1 2 A3 A- 4/21/27 7.76 4.00 2 0.07 -4.21 Bank Amer Corp Fr 4. 4.18 11/25/27 4 6 Baa2 BBB+ 11/25/26 7.39 4.30 6 0.19 -4.08 Credit Suisse Group 4.28 1/09/28 1 1 Baa2 BBB+ 7/09/26 7.45 4.25 1 0.03 -2.85 Citigroup Inc Glbl N 3.89 1/10/28 1 2 Baa1 BBB+ 1/10/28 8.21 3.96 2 0.05 -2.98 Anthem Inc Sr Glbl N 4.10 3/01/28 0 5 Baa2 A 3/01/28 8.06 4.11 5 0.16 NA Hsbc Hldgs Plc Sr Nt 4.04 3/13/28 1 2 A2 A 3/13/27 7.41 4.33 2 0.06 -2.78 Ubs Group Fdg Switz 4.25 3/23/28 4 8 Baa1 A- 3/23/27 7.66 4.16 8 0.23 -3.47 Prudential Finl Inc 3.88 3/27/28 0 5 Baa1 A 3/27/28 8.24 3.71 5 0.15 NA Jp Morgan Chase Bank 3.54 5/01/28 2 3 A3 A- 5/01/27 8.08 3.83 3 0.09 -3.07 Bank Amer Corp Sr Nt 3.59 7/21/28 1 1 A3 A- 7/21/28 8.67 3.94 1 0.03 -1.29 Morgan Stanley Sr Nt 3.59 7/22/28 5 10 A3 BBB+ 7/22/28 7.74 4.24 9 0.27 -2.76 Citigroup Inc Sr Nt 3.67 7/24/28 5 8 Baa1 BBB+ 7/24/28 8.65 3.97 8 0.23 -3.01 Citigroup Inc Sub Nt 4.13 7/25/28 4 8 Baa3 BBB 7/25/28 8.24 4.27 8 0.23 -3.13 Aeropuertos Dominica 6.75 3/30/29 0 0 Ba3 BB- 3/30/25 5.90 5.58 0 0.01 0.38 Northern Tr Corp Sr 3.38 5/08/32 1 2 A2 A 5/08/32 11.27 3.74 2 0.07 -2.75 Unicredit Spa Fr 5.8 5.86 6/19/32 5 8 Ba1 BB+ 6/19/28 8.01 5.90 8 0.25 -5.06 Nationwide Bldg Soc 4.13 10/18/32 2 4 Baa1 BBB 10/18/32 10.98 4.60 4 0.11 -3.96 American Intl Group 3.88 1/15/35 1 1 Baa1 BBB+ 1/15/35 11.96 4.45 1 0.03 -6.13 Unitedhealth Group I 4.63 7/15/35 0 0 A3 A+ 7/15/35 11.97 3.88 0 0.01 -5.11
11 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Finance (cont.) Ge Capital Internati 4.42 11/15/35 4 8 A2 A 11/15/35 11.84 4.60 8 0.22 -8.67 Bat Cap Corp Sr Glbl 4.39 8/15/37 3 5 Baa2 BBB+ 8/15/37 12.74 4.44 5 0.14 -4.35 Morgan Stanley Sr Nt 3.97 7/22/38 2 3 A3 BBB+ 7/22/38 14.03 4.14 3 0.10 -1.43 Jp Morgan Chase Bank 3.88 7/24/38 8 14 A3 A- 7/24/38 14.13 4.09 14 0.41 -1.48 Goldman Sachs Group 4.02 10/31/38 1 2 A3 BBB+ 10/31/38 14.06 4.27 2 0.06 -5.17 Aetna Inc New Sr Glb 4.50 5/15/42 1 1 Baa2 A 5/15/42 14.36 4.53 1 0.04 -6.02 Aetna Inc New Sr Glb 4.13 11/15/42 0 1 Baa2 A 11/15/42 14.79 4.54 1 0.02 -6.27 Travelers Companies 4.60 8/01/43 1 2 A2 A 8/01/43 15.07 4.09 2 0.05 -5.54 Bhp Billiton Fin Usa 5.00 9/30/43 1 3 A3 A 9/30/43 15.03 4.02 3 0.09 -4.77 Aetna Inc New Sr Nt 4.75 3/15/44 0 1 Baa2 A 3/15/44 14.96 4.55 1 0.02 -6.65 Credit Suisse Grp Fd 4.88 5/15/45 1 1 Baa2 BBB+ 5/15/45 14.91 4.50 1 0.04 -7.04 Aon Plc Sr Glbl Nt 4 4.75 5/15/45 0 1 Baa2 A- 5/15/45 15.05 4.49 1 0.02 -5.42 Metlife Inc Sr Glbl 4.60 5/13/46 1 2 A3 A- 5/13/46 15.61 4.32 2 0.07 -7.31 Rwj Barnabas Health 3.95 7/01/46 0 0 A1 A+ 7/01/46 16.44 4.11 0 0.01 -3.53 Diamond 1 Fin Corp/D 8.35 7/15/46 0 1 Baa3 BBB- 1/15/46 12.16 6.28 1 0.02 NA Lafargeholcim Fin Us 4.75 9/22/46 2 3 Baa2 BBB 3/22/46 15.32 4.80 3 0.10 -5.25 Principal Finl Group 4.30 11/15/46 2 3 Baa1 BBB+ 11/15/46 16.05 4.35 3 0.10 -6.25 Allstate Corp Sr Nt 4.20 12/15/46 1 2 A3 A- 12/15/46 16.44 4.16 2 0.05 -6.73 Barclays Plc Sr Glbl 4.95 1/10/47 2 3 Baa2 BBB 1/10/47 15.10 4.78 3 0.10 -6.47 Unitedhealth Group I 4.20 1/15/47 1 2 A3 A+ 1/15/47 16.55 4.13 2 0.05 -5.16 Marsh & McLennan Cos 4.35 1/30/47 0 0 Baa1 A- 1/30/47 16.40 4.19 0 0.01 -6.31 Kaiser Fndtn Hosp/Hl 4.15 5/01/47 2 4 NR AA- 5/01/47 16.64 3.95 4 0.13 -3.32
12 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Finance (cont.) Travelers Companies 4.00 5/30/47 1 2 A2 A 11/30/46 16.78 4.01 2 0.06 -5.38 Aetna Inc New Sr Glb 3.88 8/15/47 2 0 Baa2 A 8/15/47 17.12 3.96 0 0.00 -7.99 Blackstone Hldgs Fin 4.00 10/02/47 2 3 NR A+ 10/02/47 16.51 4.32 3 0.09 -4.01 Petrobras Glbl Fin B 6.85 6/05/15 0 1 Ba3 BB- 6/05/15 13.18 7.25 1 0.03 NA 534 15.78 Foreign Itau Unibanco Hldg S 6.13 0/00/00 0 0 B2 NR NA NA 0.00 0 0.01 NA Nordea Bk Ab Euro Mt 5.50 0/00/00 0 0 Ba1 BBB NA NA 0.00 0 0.01 NA Unifin Financiera Sa 8.88 0/00/00 0 1 NR B NA NA 0.00 1 0.03 NA Odebrecht Oil & Gas 7.00 0/00/00 0 0 NR NR NA NA 0.00 0 0.00 NA Royal Bk Scotland Gr 8.63 0/00/00 0 0 Ba3 B 9/30/21 3.28 5.90 0 0.01 NA Transcanada Pipeline 1.88 1/12/18 1 0 A3 A- NA 0.04 1.92 0 0.00 NA Ypf Sociedad Anonima 8.88 12/19/18 1 0 B2 NR 12/19/18 0.94 2.99 0 0.00 0.33 Sumitomo Mitsui Tr B 2.05 3/06/19 12 21 A1 A 3/06/19 0.92 2.88 21 0.62 0.00 Argentina Rep Glbl B 6.25 4/22/19 6 0 B2 B+ 4/22/19 1.25 2.85 0 0.00 -0.05 South Africa Rep Sr 5.50 3/09/20 3 6 Baa3 BB 3/09/20 1.83 3.52 6 0.18 0.07 Vrx Escrow Corp Sr 1 5.38 3/15/20 0 0 Caa1 B- 3/15/20 2.03 5.31 0 0.00 1.73 Ypf Sociedad Anonima 8.50 3/23/21 0 0 B2 NR 3/23/21 2.80 4.13 0 0.00 -1.58 Republic of Turkey S 5.63 3/30/21 1 0 Ba1 BB 3/30/21 2.93 3.89 0 0.00 -0.35 Argentina Rep Glbl B 6.88 4/22/21 0 7 B2 B+ 4/22/21 2.68 4.74 7 0.22 NA Odebrecht Drilling N 6.35 12/01/21 0 1 NR B- 12/01/21 3.13 7.19 1 0.03 NA Republic of Turkey N 5.13 3/25/22 0 0 Ba2 BBB- 3/25/22 3.57 4.58 0 0.01 -0.42
13 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Foreign (cont.) Bnp Paribas Fr 2.95% 2.95 5/23/22 4 7 Baa1 A- 5/23/22 3.82 3.47 7 0.21 -1.47 Enel Fin Intl N.V. S 2.88 5/25/22 3 5 Baa2 BBB+ 5/25/22 3.83 3.50 5 0.16 -1.43 Hammerhead Resources 9.00 7/10/22 0 2 NR NR 7/10/22 3.39 10.17 2 0.06 NA Enbridge Inc Sr Nt 2 2.90 7/15/22 2 3 Baa3 BBB+ 7/15/22 3.97 3.66 3 0.08 -1.67 Orix Corp Sr Glbl Nt 2.90 7/18/22 1 2 NR A- 7/18/22 3.98 3.46 2 0.06 -1.15 Inversiones Atlantid 8.25 7/28/22 0 0 NR B+ 7/28/22 3.73 7.25 0 0.01 NA Ctrip Com Intl Ltd S 1.25 9/15/22 0 0 NR NR 9/15/22 4.34 0.37 0 0.00 2.02 Republic of Turkey S 6.25 9/26/22 0 17 Ba2 BBB- 9/26/22 3.90 4.77 18 0.52 NA Docuformas S.A.P.I. 9.25 10/11/22 0 0 NR B+ 10/11/22 3.44 10.38 0 0.01 -0.47 Export Import Bk Kor 3.00 11/01/22 0 0 Aa2 AA 11/01/22 4.45 3.12 0 0.00 -0.88 China Lodging Group 0.38 11/01/22 0 0 NR NR 11/01/22 4.56 -0.62 0 0.01 -3.59 Icbc Ltd New York Br 2.96 11/08/22 0 1 A1 A 11/08/22 4.21 3.53 1 0.02 -0.78 Odebrecht Offshore D 6.72 12/01/22 0 1 NR CCC+ 12/01/22 3.81 7.82 1 0.02 NA Tecpetrol S A Sr Glb 4.88 12/12/22 0 1 Ba3 NR 12/12/22 4.06 5.51 1 0.03 NA Alpha Hldg S A De C 10.00 12/19/22 0 0 B1 B+ 12/19/22 3.57 10.33 0 0.01 NA Indonesia Rep 2.95%2 2.95 1/11/23 1 0 Baa3 NR 1/11/23 4.63 3.12 0 0.00 -1.94 Petkim Petrokimya Hl 5.88 1/26/23 0 1 B1 NR 1/26/23 4.25 6.13 1 0.02 NA Arab Rep Egypt Fr 5. 5.58 2/21/23 0 5 B3 B- 2/21/23 4.22 5.23 5 0.15 NA Mitsubishi Ufj Finl 3.46 3/02/23 0 13 A1 A- 3/02/23 4.48 3.50 13 0.38 NA Royal Bk Scotland Gr 3.50 5/15/23 4 6 Baa3 BBB- 5/15/23 4.73 3.88 6 0.19 -1.08 Royal Bk Scotland Gr 3.31 5/15/23 4 8 Baa3 BBB- 5/15/23 4.76 2.91 8 0.23 1.58 Compania Latinoameri 9.50 7/20/23 0 0 NR B- 1/20/23 3.71 8.66 0 0.01 -0.46
14 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Foreign (cont.) Hungary Rep Sr Nt 5. 5.38 3/25/24 2 0 Baa3 BBB- 3/25/24 5.29 3.05 0 0.00 -2.50 Coca Cola Icecek A S 4.22 9/19/24 0 0 Baa3 NR 9/19/24 5.75 3.96 0 0.00 -3.27 Credit Agricole Sa L 3.25 10/04/24 4 7 Baa2 BBB+ 10/04/24 5.69 4.03 6 0.19 -3.00 Axtel Sab De Cv 6.37 6.38 11/14/24 1 1 Ba3 BB 11/14/24 5.22 6.09 1 0.03 0.07 Gol Finance 144a Nt 7.00 1/31/25 1 1 NR B- 1/31/23 4.44 7.68 1 0.03 1.84 Panama Rep Sr Glbl B 3.75 3/16/25 2 0 Baa2 BBB 3/16/25 6.08 3.08 0 0.00 -2.61 Peru Rep Sr Glbl Bd 7.35 7/21/25 2 0 A3 BBB+ 7/21/25 5.91 2.96 0 0.00 -2.88 Valeant Pharmaceutic 5.50 11/01/25 0 0 Ba3 BB- 11/01/22 4.86 5.56 0 0.00 -2.99 Provincia De Rio Neg 7.75 12/07/25 1 1 B2 B 12/07/25 5.48 8.79 1 0.03 -5.11 Valeant Pharmaceutic 9.00 12/15/25 0 0 Caa1 B- 6/15/23 4.91 8.40 0 0.00 -2.51 Aptiv Plc Sr Nt 26 4.25 1/15/26 1 2 Baa2 BBB 1/15/26 6.54 3.93 2 0.06 -2.78 Philippines Rep Sr G 5.50 3/30/26 5 9 Baa2 BBB 3/30/26 6.40 3.55 10 0.30 -2.75 Argentina Rep Glbl B 7.50 4/22/26 0 1 B2 B+ 4/22/26 5.88 6.42 1 0.03 NA Odebrecht Offshore D 7.72 12/01/26 0 0 NR NR 12/01/26 3.28 33.65 0 0.00 NA Deutsche Telekom Int 3.60 1/19/27 1 2 Baa1 BBB+ 1/19/27 7.41 3.85 2 0.05 -1.42 Pampa Energia S A Sr 7.50 1/24/27 0 1 B2 B+ 7/24/23 5.06 7.12 1 0.02 -3.91 Aeropuertos Argentin 6.88 2/01/27 0 0 B1 BB- 8/01/22 3.71 6.12 0 0.01 -2.54 Stoneway Cap Corp Sr 10.00 3/01/27 1 0 B3 NR 9/01/22 3.73 8.64 0 0.00 4.55 Republic of Turkey S 6.00 3/25/27 1 0 Ba1 NR 3/25/27 7.00 5.11 0 0.00 -3.50 United Mexican State 4.15 3/28/27 17 30 A3 BBB+ 3/28/27 7.45 4.00 31 0.91 -1.52 Cenovus Energy Inc S 4.25 4/15/27 2 4 Ba2 BBB 4/15/27 7.25 4.59 3 0.10 -1.24 Colombia Rep 3.875%2 3.88 4/25/27 7 12 Baa2 BBB- 4/25/27 7.41 4.05 12 0.35 -2.10
15 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Foreign (cont.) Enel Fin Intl N.V. S 3.63 5/25/27 3 6 Baa2 BBB+ 5/25/27 7.56 4.26 6 0.17 -3.24 Enbridge Inc Sr Nt 3 3.70 7/15/27 1 2 Baa3 BBB+ 7/15/27 7.69 4.24 2 0.06 -3.63 Ypf Sociedad Anonima 6.95 7/21/27 1 1 NR B+ 7/21/27 6.68 6.89 1 0.03 -3.79 Cydsa S A Sr Glbl 14 6.25 10/04/27 1 1 NR BB 4/04/26 6.13 6.50 1 0.03 -0.20 Colbun Sa Sr Glbl 14 3.95 10/11/27 0 0 NR BBB 10/11/27 7.98 3.98 0 0.00 -2.26 Oil & Gas Hldg Co B 7.50 10/25/27 0 0 NR NR 10/25/27 6.50 7.65 0 0.01 -1.49 Republica Oriental D 4.38 10/27/27 2 0 Baa2 BBB 10/27/26 7.28 3.44 0 0.00 -2.87 Icbc Ltd New York Br 3.54 11/08/27 0 1 A1 A 11/08/27 7.90 4.08 1 0.02 -2.81 Inkia Energy Ltd Sr 5.88 11/09/27 0 1 Ba3 BB- 5/09/26 6.42 6.58 1 0.02 -1.99 Argentina Rep Sr Glb 5.88 1/11/28 0 8 B2 B+ 1/11/28 7.14 6.71 7 0.21 NA Indonesia Rep Fr 3.5 3.50 1/11/28 1 0 Baa3 NR 1/11/28 8.37 3.54 0 0.00 -3.11 Mizuho Finl Group In 4.02 3/05/28 0 1 A1 A- 3/05/28 8.10 3.95 1 0.02 NA Enel Fin Intl N.V. 3 3.50 4/06/28 5 10 Baa2 BBB+ 4/06/28 8.13 4.34 9 0.27 -3.82 Macquarie Grp Ltd Sr 3.76 11/28/28 0 0 A3 NR 5/28/28 8.09 3.83 0 0.00 NA Kingdom of Bahrain S 6.75 9/20/29 1 1 NR B+ 9/20/29 7.71 7.62 1 0.02 -3.48 Il St Txb-Pension 5.10 6/01/33 2 4 Baa3 BBB- 12/01/29 8.23 5.86 4 0.11 -4.85 Agrium Inc Deb 4.125 4.13 3/15/35 1 1 Baa2 BBB 3/15/35 12.03 4.33 1 0.03 -4.59 Telefonica Emisiones 4.67 3/06/38 0 4 Baa3 BBB 3/06/38 12.83 4.58 4 0.11 NA Rogers Communication 5.00 3/15/44 0 0 Baa1 BBB+ 3/15/44 14.96 4.38 0 0.01 -4.01 Kingdom of Bahrain S 6.00 9/19/44 0 0 Ba2 B+ 9/19/44 12.16 7.73 0 0.01 -2.89 Tobacco Settlement F 6.71 6/01/46 1 2 Baa3 BBB 6/01/33 8.17 7.37 1 0.04 6.54 Aptiv Plc 4.4%46 4.40 10/01/46 1 2 Baa2 BBB 10/01/46 15.54 4.62 2 0.04 -5.30
16 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Foreign (cont.) Tobacco Settlement F 7.47 6/01/47 2 3 B2 B+ 6/01/47 11.39 7.55 3 0.09 3.78 Commonwealth Bk Aust 3.90 7/12/47 0 0 Aa3 AA- 7/12/47 17.06 3.77 0 0.00 -3.98 Mexico City Arpt Tr 5.50 7/31/47 1 0 Baa1 BBB+ 7/31/47 14.11 5.59 0 0.00 -6.22 Indonesia Rep Fr 4.3 4.35 1/11/48 0 0 Baa3 NR 1/11/48 16.50 4.26 0 0.00 -4.96 Mexichem Sab De Cv S 5.50 1/15/48 0 1 Baa3 BBB- 1/15/48 13.82 6.00 1 0.02 -2.97 227 6.72 Government & Agency Federal Home Ln Mtg 4.88 6/13/18 1 2 Aaa AA+ 6/13/18 0.20 1.94 2 0.06 0.34 Federal Home Ln Mtg 3.75 3/27/19 1 2 Aaa AA+ 3/27/19 0.97 2.21 2 0.05 0.09 United States Treas 1.25 4/30/19 68 0 Aaa AA+ 4/30/19 1.32 1.85 0 0.00 0.13 United States Treas 1.25 5/31/19 64 0 Aaa AA+ 5/31/19 1.40 1.84 0 0.00 0.08 United States Treas 1.75 11/30/19 195 137 Aaa AA+ 11/30/19 1.63 2.25 136 4.03 -0.14 United States Treas 1.88 12/31/19 264 0 Aaa AA+ 12/31/19 1.96 1.89 0 0.00 -0.17 United States Treas 2.25 3/31/20 0 168 Aaa AA+ 3/31/20 1.95 2.27 168 4.97 NA United States Treas 1.50 4/15/20 28 0 Aaa AA+ 4/15/20 2.24 1.92 0 0.00 -0.30 United States Treas 1.50 5/15/20 27 0 Aaa AA+ 5/15/20 2.32 1.91 0 0.00 -0.36 Republic of Turkey N 7.00 6/05/20 2 0 Aaa BBB- 6/05/20 2.24 3.59 0 0.00 -0.18 United States Treas 1.50 6/15/20 34 0 Aaa AA+ 6/15/20 2.40 1.92 0 0.00 -0.39 Bat Cap Corp Sr 144a 2.30 8/14/20 0 4 Baa2 BBB+ 8/14/20 2.28 3.16 4 0.13 NA United States Treas 2.63 8/15/20 22 0 Aaa AA+ 8/15/20 2.51 1.94 0 0.00 -0.46 United States Treas 1.75 11/15/20 83 0 Aaa AA+ 11/15/20 2.79 1.96 0 0.00 -0.56 United States Treas 2.63 11/15/20 78 0 Aaa AA+ 11/15/20 2.76 1.98 0 0.00 -0.52
17 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Government & Agency (cont.) United States Treas 1.88 12/15/20 254 0 Aaa AA+ 12/15/20 2.86 1.98 0 0.00 -0.53 United States Treas 2.38 3/15/21 0 2 Aaa AA+ 3/15/21 2.84 2.39 2 0.06 NA United States Treas 1.88 4/30/22 39 0 Aaa AA+ 4/30/22 4.13 2.16 0 0.00 -0.82 South Africa Rep Glb 5.88 5/30/22 1 0 Aaa BB 5/30/22 3.89 3.60 0 0.00 -0.35 United States Treas 1.75 5/31/22 38 0 Aaa AA+ 5/31/22 4.22 2.17 0 0.00 -0.87 United States Treas 1.75 9/30/22 21 0 Aaa AA+ 9/30/22 4.51 2.20 0 0.00 -0.92 United States Treas 1.63 11/15/22 20 0 Aaa AA+ 11/15/22 4.65 2.18 0 0.00 -1.08 United States Treas 2.00 11/30/22 80 0 Aaa AA+ 11/30/22 4.65 2.20 0 0.00 -0.99 United States Treas 2.13 12/31/22 233 0 Aaa AA+ 12/31/22 4.67 2.21 0 0.00 -0.99 United States Treas 2.63 2/28/23 0 6 Aaa AA+ 2/28/23 4.58 2.56 6 0.17 NA United States Treas 1.50 3/31/23 9 15 Aaa AA+ 3/31/23 4.73 2.57 15 0.43 -1.07 United States Treas 1.63 4/30/23 8 15 Aaa AA+ 4/30/23 4.80 2.58 14 0.42 -1.10 United States Treas 2.00 4/30/24 32 57 Aaa AA+ 4/30/24 5.63 2.65 54 1.61 -1.38 United States Treas 2.00 5/31/24 31 56 Aaa AA+ 5/31/24 5.71 2.66 54 1.59 -1.39 United States Treas 2.13 11/30/24 163 0 Aaa AA+ 11/30/24 6.38 2.33 0 0.00 -1.55 United States Treas 2.25 12/31/24 0 57 Aaa AA+ 12/31/24 6.18 2.68 56 1.65 NA United States Treas 2.50 1/31/25 0 20 Aaa AA+ 1/31/25 6.21 2.68 20 0.59 NA Republic of Turkey S 7.38 2/05/25 2 0 Aaa BBB- 2/05/25 5.48 4.83 0 0.00 -2.18 United States Treas 2.00 2/15/25 11 19 Aaa AA+ 2/15/25 6.35 2.69 18 0.54 -1.61 United States Treas 2.75 2/28/25 0 53 Aaa AA+ 2/28/25 6.25 2.68 54 1.58 NA United States Treas 2.13 5/15/25 10 19 Aaa AA+ 5/15/25 6.50 2.70 18 0.53 -1.67 United States Treas 2.00 8/15/25 11 20 Aaa AA+ 8/15/25 6.77 2.71 19 0.57 -1.74
18 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Government & Agency (cont.) United States Treas 2.25 11/15/25 11 20 Aaa AA+ 11/15/25 6.88 2.72 19 0.57 -1.79 Export-Import Bk Ind 3.38 8/05/26 0 0 Baa2 BBB- 8/05/26 7.30 4.21 0 0.00 -3.24 United States Treas 2.00 11/15/26 23 41 Aaa AA+ 11/15/26 7.77 2.74 39 1.15 -2.04 United States Treas 2.25 2/15/27 23 40 Aaa AA+ 2/15/27 7.94 2.75 39 1.15 -2.05 Energuate Trust 5.87 5.88 5/03/27 0 0 Ba2 NR 5/03/24 5.71 5.95 0 0.01 -1.12 United States Treas 2.25 11/15/27 68 52 Aaa AA+ 11/15/27 8.49 2.75 50 1.48 -2.28 United States Treas 2.75 2/15/28 0 4 Aaa AA+ 2/15/28 8.57 2.74 4 0.13 NA Federal Natl Mtg Ass 6.63 11/15/30 0 1 Aaa AA+ 11/15/30 9.05 3.07 1 0.03 -1.47 California State 7.50 4/01/34 1 1 Aa3 AA- 4/01/34 10.21 3.79 2 0.04 -1.34 Los Angeles Calif Un 5.75 7/01/34 0 0 Aa2 AA- 1/01/33 10.29 3.64 0 0.01 -1.78 United States Treas 4.25 5/15/39 6 17 Aaa AA+ 5/15/39 14.41 2.87 21 0.63 -2.90 United States Treas 4.50 8/15/39 5 17 Aaa AA+ 8/15/39 14.49 2.88 21 0.63 -2.87 State of California 7.30 10/01/39 0 0 Aa3 AA- 4/01/37 11.40 3.85 1 0.02 -1.04 United States Treas 4.38 11/15/39 5 15 Aaa AA+ 11/15/39 14.55 2.89 18 0.54 -2.92 United States Treas 3.13 2/15/43 22 39 Aaa AA+ 2/15/43 17.18 2.95 40 1.19 -3.33 United States Treas 2.88 5/15/43 22 40 Aaa AA+ 5/15/43 17.45 2.96 39 1.15 -3.45 United States Treas 3.63 8/15/43 21 37 Aaa AA+ 8/15/43 16.89 2.95 42 1.23 -3.31 United States Treas 3.75 11/15/43 25 44 Aaa AA+ 11/15/43 16.74 2.95 50 1.48 -3.36 United States Treas 2.88 8/15/45 0 14 Aaa AA+ 8/15/45 18.57 2.97 14 0.41 NA United States Treas 2.88 11/15/46 6 24 Aaa AA+ 11/15/46 18.96 2.98 23 0.69 -3.71 United States Treas 3.00 2/15/47 4 28 Aaa AA+ 2/15/47 19.04 2.97 29 0.85 -3.70 United States Treas 2.75 11/15/47 149 102 Aaa AA+ 11/15/47 19.55 2.97 97 2.88 -3.88
19 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Government & Agency (cont.) United States Treas 3.00 2/15/48 0 16 Aaa AA+ 2/15/48 19.44 2.97 16 0.47 NA 1,208 35.73 Industrial Actavis Funding Scs 2.35 3/12/18 2 0 Baa3 BBB NA 0.20 1.95 0 0.00 NA United Technologies 1.78 5/04/18 2 4 Baa1 BBB+ 5/04/18 0.09 2.70 4 0.12 0.51 Reynolds American In 2.30 6/12/18 1 1 Baa2 BBB+ 6/12/18 0.20 2.55 1 0.03 0.40 Csc Hldgs Inc Sr Deb 7.63 7/15/18 1 3 B2 B- 7/15/18 0.29 1.68 3 0.08 1.33 Aviation Cap Group C 2.88 9/17/18 2 3 Baa1 A- 9/17/18 0.46 2.96 3 0.09 0.33 Boston Scientific Co 2.65 10/01/18 1 0 Baa2 BBB- 10/01/18 0.74 2.12 0 0.00 NA Hewlett Packard Co N 2.85 10/05/18 2 3 Baa2 BBB 10/05/18 0.50 2.65 3 0.10 0.32 Synchrony Finl Sr Gl 2.60 1/15/19 1 2 Baa3 BBB- 1/15/19 0.77 2.88 2 0.05 0.23 Oasis Pete Inc New S 7.25 2/01/19 0 0 B3 BB- 2/01/19 0.79 6.92 0 0.01 2.04 Whiting Pete Corp Ne 5.00 3/15/19 1 0 B3 BB- 3/15/19 1.02 2.84 0 0.00 NA Exxon Mobil Corp Sr 1.82 3/15/19 2 4 Aaa AA+ 3/15/19 0.94 2.44 3 0.10 0.03 Hca Inc Sr Sec Nt3.7 3.75 3/15/19 2 3 Ba1 BBB- 3/15/19 0.93 3.34 3 0.09 0.43 Time Warner Inc Sr G 2.10 6/01/19 2 4 Baa2 BBB 6/01/19 1.14 2.89 4 0.13 -0.19 Becton Dickinson & C 2.13 6/06/19 4 8 Ba1 BBB 6/06/19 1.15 3.11 8 0.23 -0.38 Teva Pharmaceutical 1.70 7/19/19 0 0 Ba2 BB 7/19/19 1.26 4.33 0 0.01 -0.04 Cbs Corp New Sr Glbl 2.30 8/15/19 1 2 Baa2 BBB 8/15/19 1.34 2.91 2 0.06 -0.17 Hewlett Packard Ente 2.10 10/04/19 3 6 Baa2 BBB 10/04/19 1.46 3.00 6 0.17 -0.12 Cdk Global Inc Cr Se 3.30 10/15/19 1 1 Ba1 BB+ 10/15/19 1.47 3.13 1 0.03 -0.92 Tesoro Logistics Lp 5.50 10/15/19 2 3 Ba1 BBB- 10/15/19 1.44 3.54 3 0.09 0.45
20 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Dignity Health 2014a 2.64 11/01/19 0 2 A3 A 11/01/19 1.53 2.91 2 0.06 NA Newell Brands Inc Sr 2.88 12/01/19 2 3 Baa3 BBB- 12/01/19 1.60 3.21 3 0.10 -0.64 Viacom Inc New Sr Gl 2.75 12/15/19 0 1 Baa3 BBB- 12/15/19 1.64 3.30 1 0.02 -0.08 Becton Dickinson & C 2.68 12/15/19 1 2 Ba1 BBB 12/15/19 1.64 3.02 2 0.06 -0.28 Broadcom Corp/Broadc 2.38 1/15/20 0 23 Baa2 BBB- 1/15/20 1.73 3.18 23 0.68 NA Broadcom Corp/Broadc 2.38 1/15/20 13 0 Baa2 BBB- 1/15/20 1.96 2.72 0 0.00 -0.13 Laboratory Corp Amer 2.63 2/01/20 1 1 Baa2 BBB 2/01/20 1.77 3.07 1 0.04 -0.40 Gilead Sciences Inc 2.35 2/01/20 0 1 A3 A 2/01/20 1.78 2.81 1 0.02 -0.71 Time Warner Cable In 5.00 2/01/20 1 1 Baa2 BBB- 2/01/20 1.74 3.46 1 0.04 -0.40 Synchrony Finl Sr Gl 2.70 2/03/20 1 1 Baa3 BBB- 2/03/20 1.77 3.30 1 0.03 -0.64 Bp Cap Mkts P L C Gl 2.32 2/13/20 0 15 A1 A- 2/13/20 1.81 2.92 15 0.45 NA Hca Inc Sr Sec Nt 6. 6.50 2/15/20 3 5 Ba1 BBB- 2/15/20 1.75 3.78 5 0.14 0.45 Actavis Funding Scs 3.00 3/12/20 0 11 Baa3 BBB 3/12/20 1.88 3.27 11 0.32 NA Lam Research Corp Sr 2.75 3/15/20 1 2 A3 BBB+ 3/15/20 1.89 2.97 2 0.05 -0.45 Dxc Technology Co Sr 2.88 3/27/20 1 2 Baa2 BBB 3/27/20 1.92 3.17 2 0.05 -0.33 Whiting Pete Corp Ne 1.25 4/01/20 0 1 B3 BB- 4/01/20 1.93 4.35 0 0.01 2.64 Harris Corp Del Sr G 2.70 4/27/20 0 1 Baa3 BBB- 4/27/20 1.98 3.14 1 0.02 -0.61 Amgen Inc Sr Nt 2.12 2.13 5/01/20 1 2 Baa1 A 5/01/20 2.00 3.00 2 0.06 -0.69 Du Pont E I De Nemou 2.20 5/01/20 1 1 A3 A- 5/01/20 2.00 2.89 1 0.04 -0.75 Resolute Energy Corp 8.50 5/01/20 3 3 Caa1 CC 5/01/19 0.93 9.51 3 0.09 0.10 Abbvie Inc Sr Nt 2.5 2.50 5/14/20 2 3 Baa2 A- 5/14/20 2.02 3.13 3 0.09 -0.98 Volkswagen Group Ame 2.40 5/22/20 0 3 A3 BBB+ 5/22/20 2.05 3.07 3 0.10 NA
21 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Reynolds American In 3.25 6/12/20 0 0 Baa2 BBB+ 6/12/20 2.09 3.24 0 0.01 -0.78 Juniper Networks Inc 3.30 6/15/20 1 1 Baa2 BBB 6/15/20 2.09 3.28 1 0.04 -0.43 Vmware Inc Sr Glbl-A 2.30 8/21/20 9 15 Baa2 BBB- 8/21/20 2.29 3.50 14 0.42 -1.61 Abbott Labs Sr Nt 2. 2.80 9/15/20 1 1 Baa2 BBB 9/15/20 2.35 3.01 1 0.04 -0.47 Digicel Group Ltd Sr 8.25 9/30/20 0 0 Caa1 NR 9/30/20 2.13 15.20 0 0.01 NA Tenet Healthcare Cor 6.00 10/01/20 3 5 Ba3 BB- 10/01/20 2.25 4.56 6 0.16 -0.82 Fidelity Natl Inform 3.63 10/15/20 0 0 Baa2 BBB 10/15/20 2.38 3.11 0 0.00 -0.58 Hewlett Packard Co N 3.60 10/15/20 2 3 Baa2 BBB 10/15/20 2.37 3.22 3 0.09 -0.28 Aercap Ireland Capit 4.63 10/30/20 3 6 Baa3 BBB- 10/30/20 2.38 3.43 6 0.18 -0.72 American Energy Sr S 13.00 11/30/20 0 1 B2 B 11/30/20 2.20 7.04 1 0.02 2.14 Hewlett Packard Co S 3.75 12/01/20 0 0 Baa2 BBB 12/01/20 2.50 3.15 0 0.01 -0.71 Bae Sys Hldgs Inc Sr 2.85 12/15/20 0 1 Baa2 BBB 12/15/20 2.56 3.22 1 0.02 -0.69 Schlumberger Hldgs C 3.00 12/21/20 2 3 Baa1 AA- 12/21/20 2.58 3.09 3 0.08 -0.79 Broadcom Corp/Broadc 2.20 1/15/21 0 2 Baa2 BBB- 1/15/21 2.65 3.29 2 0.06 NA Broadcom Corp/Broadc 2.20 1/15/21 1 0 Baa2 BBB- 1/15/21 2.91 2.96 0 0.00 -0.14 Petrobras Intl Fin C 5.38 1/27/21 1 0 Ba3 BB- 1/27/21 2.77 3.98 0 0.00 1.76 Anheuser Busch Inbev 2.65 2/01/21 3 5 A3 A- 2/01/21 2.70 2.94 5 0.15 -0.63 Time Warner Cable In 4.13 2/15/21 2 3 Baa2 BBB- 2/15/21 2.68 3.72 3 0.08 -0.85 Ashton Woods Usa Llc 6.88 2/15/21 0 1 Caa1 B- 2/15/21 2.55 6.77 1 0.02 NA Viacom Inc Sr Nt 4.5 4.50 3/01/21 1 2 Baa3 BBB- 3/01/21 2.72 3.27 2 0.05 0.38 Cheniere Energy Inc 4.88 5/28/21 1 2 NR NR 5/28/21 2.86 4.89 2 0.06 0.94 Nxp B V / Nxp Fdg Ll 4.13 6/01/21 0 0 Ba1 BBB- 6/01/21 3.16 3.50 0 0.00 0.02
22 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Lam Research Corp Sr 2.80 6/15/21 1 2 A3 BBB+ 6/15/21 3.02 3.23 2 0.05 -1.25 Cablevision S A Sr 1 6.50 6/15/21 0 0 B3 NR 6/15/20 2.18 5.17 0 0.01 -0.34 Eldorado Intl Fin Gm 8.63 6/16/21 0 1 B1 B- 12/16/19 1.94 7.03 1 0.03 NA Extraction Oil & Gas 7.88 7/15/21 0 0 B3 B 7/15/18 0.56 4.56 0 0.00 NA Devon Energy Corp Ne 4.00 7/15/21 0 1 Ba1 BBB 7/15/21 3.04 3.41 1 0.04 NA Vpii Escrow Corp Sr 7.50 7/15/21 0 1 Caa1 B- 1/15/20 1.82 8.97 1 0.02 0.47 Endeavor Energy Reso 7.00 8/15/21 2 0 B3 BB- 8/15/18 0.53 6.63 0 0.00 NA Time Warner Cable In 4.00 9/01/21 0 0 Ba1 BBB- 9/01/21 3.16 3.87 0 0.01 -1.56 Steel Dynamics Inc S 5.13 10/01/21 1 1 Ba1 BB+ 10/01/21 3.10 4.62 1 0.04 0.38 Oasis Pete Inc New S 6.50 11/01/21 0 1 B3 BB- 11/01/21 3.08 6.03 1 0.02 NA Moodys Corp Sr Nt 2. 2.75 12/15/21 2 3 NR BBB+ 12/15/21 3.47 3.27 3 0.09 -1.26 Scientific Games Int 7.00 1/01/22 1 0 B1 B+ NA 0.16 6.22 0 0.00 NA Broadcom Corp/Broadc 3.00 1/15/22 0 18 Baa2 BBB- 1/15/22 3.53 3.53 17 0.51 NA Broadcom Corp/Broadc 3.00 1/15/22 10 0 Baa2 BBB- 1/15/22 3.73 3.22 0 0.00 -0.29 Petrobras Glbl Fin B 6.13 1/17/22 4 13 Ba3 BB- 1/17/22 3.35 4.20 14 0.41 1.97 Genneia S.A. Sr Glbl 8.75 1/20/22 1 0 B2 NR 7/20/20 2.30 5.71 0 0.00 -0.02 Ply Gem Inds Inc Sr 6.50 2/01/22 2 0 B3 B+ 2/01/22 3.47 5.60 0 0.00 1.40 Newmont Mining Corp 3.50 3/15/22 2 3 Baa2 BBB 3/15/22 3.66 3.46 3 0.10 -1.06 Beazer Homes Usa Inc 8.75 3/15/22 0 1 B3 B- 3/15/19 0.94 0.63 2 0.05 NA Oasis Pete Inc New S 6.88 3/15/22 1 1 B3 BB- 3/15/22 3.41 6.46 1 0.04 0.49 Interpublic Group Co 4.00 3/15/22 1 1 Baa2 BBB 3/15/22 3.63 3.60 1 0.04 -0.87 Kaiser Fndtn Hosp/Hl 3.50 4/01/22 0 2 A1 AA- 4/01/22 3.65 3.03 2 0.06 NA
23 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Caesars Growth Prop 9.38 5/01/22 2 0 Caa1 B+ 5/01/18 0.42 4.09 0 0.00 NA Pitney Bowes Inc Sr 3.88 5/15/22 3 0 Ba1 BBB- 5/15/22 3.92 6.01 0 0.00 3.90 Aercap Ireland Capit 3.50 5/26/22 4 7 Baa3 BBB- 5/26/22 3.78 3.89 7 0.20 -2.08 Becton Dickinson & C 2.89 6/06/22 3 5 Ba1 BBB 6/06/22 3.86 3.67 5 0.16 -1.64 Air Lease Corp Sr Gl 2.63 7/01/22 3 6 NR BBB 7/01/22 3.95 3.50 5 0.16 -1.46 Charter Communicatio 4.46 7/23/22 4 6 Ba1 BBB- 7/23/22 3.87 3.92 7 0.20 -1.04 Transcanada Corp Sr 2.50 8/01/22 1 1 A3 A- 8/01/22 4.05 3.17 1 0.03 -1.44 Rsp Permian Inc Sr N 6.63 10/01/22 0 0 B1 B+ 10/01/22 3.75 5.48 0 0.01 1.20 Eaton Corp Plc Sr Nt 2.75 11/02/22 1 2 Baa1 A- 11/02/22 4.22 3.30 2 0.05 -1.92 Abbvie Inc Sr Nt 2.9 2.90 11/06/22 1 2 Baa2 A- 11/06/22 4.21 3.45 2 0.07 -1.89 Scientific Games Int 10.00 12/01/22 1 2 Caa1 B- 12/01/18 0.72 5.55 2 0.05 0.37 Chesapeake Energy Co 8.00 12/15/22 0 3 B2 BB- 12/15/18 1.16 5.16 4 0.10 -0.02 Apache Corp Sr Nt 2. 2.63 1/15/23 1 2 Baa3 BBB 1/15/23 4.42 3.66 2 0.07 -1.95 Nabors Inds Inc New 5.50 1/15/23 0 0 Ba3 BB 1/15/23 4.10 6.04 0 0.00 2.19 Qualcomm Inc Fr 2.6% 2.60 1/30/23 2 4 A1 A 1/30/23 4.47 3.53 4 0.11 -1.01 Anheuser Busch Inbev 3.30 2/01/23 2 3 A3 A- 2/01/23 4.41 3.28 3 0.09 -1.41 Bristow Group Inc Sr 8.75 3/01/23 0 1 B2 B+ 3/01/22 3.49 9.34 1 0.04 NA Xerox Corp Cr Sen Sr 3.63 3/15/23 0 1 Baa3 BBB- 3/15/23 4.48 4.15 1 0.03 NA Vrio Finco 1 Llc / V 6.25 4/04/23 0 1 Ba2 BB 4/04/23 4.18 6.00 1 0.04 NA Matador Res Co Sr Gl 6.88 4/15/23 0 0 B2 B 4/15/20 1.99 5.59 0 0.01 0.43 Verisign Inc Sr Nt 4 4.63 5/01/23 1 3 Ba2 BB+ 11/01/22 3.25 4.71 3 0.08 -1.59 Marfrig Holdings Eur 8.00 6/08/23 0 0 B2 B+ 12/08/20 2.93 7.04 0 0.00 -1.58
24 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Arcor S A I C Sr 2 1 6.00 7/06/23 0 0 B1 NR 1/06/22 3.64 5.45 0 0.01 -1.55 Eclipse Res Corp Sr 8.88 7/15/23 1 2 Caa1 B- 7/15/23 4.02 10.27 2 0.06 -5.90 Petrobras Energia S 7.38 7/21/23 0 1 B2 B+ 7/21/21 3.38 6.18 1 0.02 -1.88 Gilead Sciences Inc 2.50 9/01/23 1 2 A3 A 9/01/23 5.01 3.23 2 0.05 -1.74 Cvs Health Corp Sr N 4.00 12/05/23 2 3 Baa1 BBB 12/05/23 4.99 3.77 3 0.10 -1.74 Broadcom Corp/Broadc 3.63 1/15/24 0 3 Baa2 BBB- 1/15/24 5.13 3.94 3 0.10 NA Broadcom Corp/Broadc 3.63 1/15/24 2 0 Baa2 BBB- 1/15/24 5.29 3.73 0 0.00 -0.17 Thermo Fisher Scient 4.15 2/01/24 3 5 Baa2 BBB 2/01/24 5.13 3.63 5 0.15 -2.19 Apple Inc Sr Glbl Nt 3.00 2/09/24 2 3 Aa1 AA+ 2/09/24 5.31 3.21 3 0.10 -1.63 Discovery Communicat 3.80 3/13/24 1 2 Baa3 BBB- 3/13/24 5.26 4.03 2 0.06 -1.67 Amphenol Corp New Sr 3.20 4/01/24 1 1 Baa1 BBB+ 4/01/24 5.31 3.70 1 0.04 -2.56 Bp Cap Mkts P L C Bd 3.22 4/14/24 4 7 A1 A- 4/14/24 5.35 3.47 7 0.20 -2.91 Pinnacle Entmt Inc N 5.63 5/01/24 0 1 B2 BB- 5/01/21 2.92 4.82 1 0.03 NA Apple Inc Sr Glbl Nt 2.85 5/11/24 8 15 Aa1 AA+ 5/11/24 5.49 3.31 14 0.42 -2.25 Xilinx Inc Sr Glbl N 2.95 6/01/24 1 2 A3 A- 6/01/24 5.52 3.69 2 0.05 -2.71 Tyco Electronics Gro 3.45 8/01/24 0 0 Baa1 A- 8/01/24 5.62 3.33 0 0.01 -1.25 Tyson Foods Inc Sr N 3.95 8/15/24 1 3 Baa2 BBB 8/15/24 5.57 3.84 3 0.08 -3.40 Cox Communications I 3.15 8/15/24 3 5 Baa2 BBB 8/15/24 5.68 3.88 4 0.13 -1.83 Anglo American Capit 3.63 9/11/24 2 4 Baa3 BBB- 9/11/24 5.66 4.28 3 0.10 -2.30 Geopark Ltd Sr 144a 6.50 9/21/24 0 1 NR B+ 3/21/24 4.86 6.69 1 0.03 -0.57 Carlson Travel Inc S 9.50 12/15/24 0 0 Caa1 CCC+ 12/15/24 4.65 10.91 0 0.00 NA Ziggo Bd Fin B V Fr 5.88 1/15/25 0 0 B3 B 7/15/24 5.16 6.99 0 0.01 NA
25 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Northrop Grumman Cor 2.93 1/15/25 3 5 Baa2 BBB 1/15/25 6.00 3.62 5 0.14 -2.82 Hidrovias Intl Finan 5.95 1/24/25 0 1 Ba3 NR 7/24/24 5.21 6.19 1 0.03 NA Petrobras Glbl Fin B 5.30 1/27/25 0 0 Ba3 BB- 1/27/25 5.60 5.52 0 0.01 -0.24 Woodside Fin Ltd Sr 3.65 3/05/25 0 0 Baa1 BBB+ 3/05/25 6.05 3.81 0 0.01 -0.68 Actavis Funding Scs 3.80 3/15/25 4 7 Baa3 BBB 3/15/25 6.04 4.09 7 0.20 -2.58 Valero Energy Corp N 3.65 3/15/25 2 4 Baa2 BBB 3/15/25 6.08 3.73 4 0.12 -2.20 Cvs Health Corp Sr G 4.10 3/25/25 0 5 Baa1 BBB 3/25/25 6.02 3.98 5 0.14 NA Aker Bp Asa Sr Glbl 5.88 3/31/25 0 0 Ba2 BB+ 9/30/23 4.82 6.01 0 0.01 NA Zf North Amer Cap Sr 4.75 4/29/25 0 4 Baa3 BBB- 4/29/25 5.85 4.54 4 0.13 NA Reynolds American In 4.45 6/12/25 5 8 Baa2 BBB+ 6/12/25 5.95 3.99 8 0.25 -2.49 Baxalta Inc Sr Nt 4% 4.00 6/23/25 2 4 Baa3 BBB- 6/23/25 6.09 4.03 4 0.13 -2.45 Time Warner Inc Sr G 3.60 7/15/25 1 1 Baa2 BBB 7/15/25 6.29 4.03 1 0.03 -2.02 Synchrony Finl Sr Nt 4.50 7/23/25 1 2 Baa3 BBB- 7/23/25 6.12 4.50 2 0.06 -3.23 Charter Communicatio 4.91 7/23/25 1 1 Ba1 BBB- 7/23/25 6.05 4.55 1 0.03 -2.74 Comcast Corp New Sr 3.38 8/15/25 1 0 A3 A- 8/15/25 6.62 2.99 0 0.00 -3.86 Abbott Labs Sr Nt 3. 3.88 9/15/25 0 0 Baa2 BBB 9/15/25 6.42 3.72 0 0.01 -1.41 Halliburton Co Sr Gl 3.80 11/15/25 6 11 Baa1 A- 11/15/25 6.48 3.73 11 0.32 -2.44 Georgia Pac Corp Deb 7.38 12/01/25 1 2 A3 A 12/01/25 5.95 3.78 2 0.06 -1.34 Analog Devices Inc S 3.90 12/15/25 0 0 Baa1 BBB 12/15/25 6.54 3.75 0 0.01 -2.46 Thermo Fisher Scient 3.65 12/15/25 3 5 Baa2 BBB 12/15/25 6.60 3.67 5 0.16 -1.78 Lockheed Martin Corp 3.55 1/15/26 0 1 Baa1 BBB+ 1/15/26 6.70 3.67 1 0.02 -3.65 Pioneer Nat Res Co S 4.45 1/15/26 0 1 Baa2 BBB 1/15/26 6.51 3.82 1 0.02 -1.78
26 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Eog Res Inc Sr Glbl 4.15 1/15/26 1 1 Baa1 BBB+ 1/15/26 6.58 3.66 1 0.04 -1.97 Endeavor Energy Reso 5.50 1/30/26 0 0 B3 BB- 7/30/23 5.06 5.62 0 0.00 -0.87 Anheuser Busch Inbev 3.65 2/01/26 9 15 A3 A- 2/01/26 6.71 3.74 15 0.45 -2.80 Total Sys Svcs Inc S 4.80 4/01/26 2 4 Baa3 BBB- 4/01/26 6.43 4.10 4 0.12 -2.07 Target Corp Sr Glbl 2.50 4/15/26 2 3 A2 A 4/15/26 7.08 3.52 3 0.09 -2.72 Kroger Co Sr Glbl Nt 2.65 10/15/26 0 4 Baa1 BBB 10/15/26 7.40 4.00 3 0.10 NA Penske Truck Leasing 3.40 11/15/26 2 4 Baa2 BBB 11/15/26 7.27 4.05 3 0.10 -2.64 Abbott Labs Sr Nt 3. 3.75 11/30/26 8 14 Baa2 BBB 11/30/26 7.25 3.82 14 0.42 -2.23 Analog Devices Inc S 3.50 12/05/26 3 6 Baa1 BBB 12/05/26 7.32 3.85 6 0.17 -2.83 Petrobras Glbl Fin B 7.38 1/17/27 0 0 Ba3 BB- 1/17/27 6.42 6.13 0 0.01 0.07 Central Amer Bottlin 5.75 1/31/27 0 0 Ba2 BB 1/31/24 5.27 5.48 0 0.00 -1.03 Glencore Fdg Llc Sr 4.00 3/27/27 3 6 Baa2 BBB 3/27/27 7.44 4.47 6 0.16 -2.87 Applied Matls Inc Sr 3.30 4/01/27 2 3 A3 A- 4/01/27 7.55 3.53 3 0.08 -2.59 Vm Holding Sa Sr Glb 5.38 5/04/27 0 1 Ba2 BB+ 5/04/27 6.99 5.05 1 0.02 -2.17 Crh America Finance 3.40 5/09/27 2 3 Baa1 BBB+ 5/09/27 7.59 3.95 3 0.08 -3.34 Ssm Health Care Corp 3.82 6/01/27 2 4 NR A+ 6/01/27 7.49 3.63 4 0.12 -1.20 Autodesk Inc Sr Glbl 3.50 6/15/27 3 6 Baa2 BBB 6/15/27 7.64 4.10 6 0.16 -1.80 Grupo Kuo Sab De Cv 5.75 7/07/27 0 1 NR BB 7/07/25 5.96 5.86 1 0.02 -2.06 Tyco Electronics Gro 3.13 8/15/27 0 1 Baa1 A- 8/15/27 8.00 3.60 1 0.03 -2.77 Concho Res Inc Sr Gl 3.75 10/01/27 5 8 Ba1 BBB- 10/01/27 7.75 4.03 8 0.24 -2.57 Northrop Grumman Cor 3.25 1/15/28 0 7 Baa2 BBB 1/15/28 8.15 3.81 7 0.20 NA Petrobras Glbl Fin B 6.00 1/27/28 0 0 Ba3 BB- 1/27/28 7.24 6.13 0 0.01 0.23
27 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Charter Communicatio 3.75 2/15/28 3 0 NR BBB- 2/15/28 8.15 4.26 0 0.00 -3.13 Sutter Health Sr Glb 3.70 8/15/28 0 1 Aa3 NR 8/15/28 8.57 3.62 1 0.04 NA Seacor Holdings Inc 3.00 11/15/28 1 2 NR NR 11/15/20 2.43 4.39 2 0.06 3.11 Oracle Corp Sr Glbl 3.25 5/15/30 1 2 A1 AA- 5/15/30 9.77 3.65 2 0.06 -4.17 Comcast Corp New Sr 4.25 1/15/33 0 1 A3 A- 1/15/33 10.87 3.93 1 0.02 -3.98 Microsoft Corp Sr Nt 3.50 2/12/35 1 3 Aaa AAA 2/12/35 12.58 3.60 3 0.07 -4.24 Lockheed Martin Corp 3.60 3/01/35 1 2 Baa1 BBB+ 3/01/35 12.44 3.96 2 0.06 -4.33 Waste Mgmt Inc Del S 3.90 3/01/35 3 5 Baa2 A- 3/01/35 12.27 3.91 5 0.15 -3.87 Medtronic Inc Sr Glb 4.38 3/15/35 2 4 A3 A 3/15/35 12.01 3.88 4 0.12 -4.92 Eog Res Inc Sr Nt 3. 3.90 4/01/35 0 1 Baa1 BBB+ 4/01/35 11.98 4.05 1 0.02 -2.93 Shell International 4.13 5/11/35 2 3 Aa2 A+ 5/11/35 12.08 3.84 3 0.10 -4.08 Abbvie Inc Sr Nt 4.5 4.50 5/14/35 9 17 Baa2 A- 5/14/35 11.62 4.30 17 0.51 -5.74 Oracle Corp Sr Glbl 3.90 5/15/35 1 2 A1 AA- 5/15/35 12.12 3.90 2 0.07 -4.70 Comcast Corp New Sr 4.40 8/15/35 2 3 A3 A- 2/15/35 11.90 4.14 3 0.08 -4.71 Gilead Sciences Inc 4.60 9/01/35 0 1 A3 A 3/01/35 11.82 4.02 1 0.02 -3.93 Charter Communicatio 6.38 10/23/35 1 2 Ba1 BBB- 10/23/35 10.63 5.35 2 0.06 -2.98 McDonalds Corp Med T 4.70 12/09/35 2 4 Baa1 BBB+ 12/09/35 12.00 4.15 4 0.12 -4.93 Visa Inc Sr Glbl Nt 4.15 12/14/35 2 3 A1 A+ 12/14/35 12.53 3.65 3 0.09 -3.16 Anheuser Busch Inbev 4.70 2/01/36 1 2 A3 A- 2/01/36 12.11 4.23 2 0.06 -4.33 Newell Brands Inc Cr 5.38 4/01/36 1 1 Baa3 BBB- 4/01/36 11.24 5.01 1 0.03 -9.76 Lockheed Martin Corp 4.50 5/15/36 0 0 Baa1 BBB+ 5/15/36 12.17 4.02 0 0.01 -4.39 Comcast Corp New Nt 3.20 7/15/36 3 6 A3 A- 7/15/36 13.25 4.11 5 0.15 -6.24
28 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) New York Presbyteria 3.56 8/01/36 0 1 Aa3 AA- 8/01/36 13.16 3.79 1 0.02 -2.92 Microsoft Corp Sr Gl 3.45 8/08/36 4 8 Aaa AAA 2/08/36 13.22 3.64 8 0.23 -4.57 Gilead Sciences Inc 4.00 9/01/36 5 8 A3 A 3/01/36 12.73 4.03 8 0.25 -4.94 Pfizer Inc Sr Glbl N 4.00 12/15/36 4 7 A1 AA 12/15/36 13.02 3.72 7 0.22 -4.44 Home Depot Inc Sr Gl 5.88 12/16/36 1 2 A2 A 12/16/36 12.05 3.74 2 0.06 -3.96 Amazon Com Inc Sr Gl 3.88 8/22/37 5 0 Baa1 AA- 8/22/37 13.71 3.44 0 0.00 -5.19 Cvs Health Corp 4.78 4.78 3/25/38 0 1 Baa1 BBB 3/25/38 12.81 4.67 1 0.03 NA Anheuser-Busch Inbev 4.38 4/15/38 0 6 A3 A- 4/15/38 13.26 4.22 6 0.18 NA Mass Inst Tech Mtn B 3.96 7/01/38 0 1 Aaa AAA 7/01/37 13.43 3.50 1 0.02 -2.67 University Southn Ca 3.03 10/01/39 1 3 Aa1 AA 10/01/37 14.07 3.65 3 0.09 -3.56 Nj St Tpk Auth Build 7.41 1/01/40 1 1 A2 A+ 7/01/38 12.03 3.99 2 0.05 -3.39 Meccanica Holdings U 6.25 1/15/40 0 0 Ba1 BB+ 1/15/40 12.65 5.43 0 0.00 -3.41 Time Warner Cable In 5.50 9/01/41 1 1 Ba1 BBB- 9/01/41 12.89 5.55 1 0.03 -3.37 Newmont Mining Corp 4.88 3/15/42 1 2 Baa2 BBB 3/15/42 14.26 4.54 3 0.07 -4.45 Barrick Gold Corp Sr 5.25 4/01/42 2 3 Baa2 BBB 4/01/42 13.59 4.63 3 0.09 -4.38 Monsanto Co New Sr N 3.60 7/15/42 1 1 A3 BBB 7/15/42 15.21 4.53 1 0.03 -4.75 Rio Tinto Fin Usa Pl 4.13 8/21/42 1 2 A3 A 8/21/42 15.34 3.99 2 0.05 -3.62 Shell International 3.63 8/21/42 1 1 Aa2 A+ 8/21/42 15.66 3.96 1 0.03 -3.15 Eastman Chem Co Sr N 4.80 9/01/42 1 1 Baa2 BBB 9/01/42 14.52 4.43 1 0.03 -2.97 Time Warner Cable In 4.50 9/15/42 0 0 Baa2 BBB- 9/15/42 13.87 5.50 0 0.00 -6.50 Merck & Co Inc Nt 3. 3.60 9/15/42 1 2 A1 AA 9/15/42 16.05 3.75 2 0.07 -3.48 Catholic Health Init 4.35 11/01/42 0 1 Baa1 BBB+ 11/01/41 13.92 4.83 0 0.01 -2.21
29 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Dow Chem Co Sr Nt 4. 4.38 11/15/42 0 1 Baa2 BBB 11/15/42 14.71 4.40 1 0.02 -4.35 Sherwin Williams Co 4.00 12/15/42 0 0 Baa3 BBB 12/15/42 15.07 4.42 0 0.01 -5.61 Lockheed Martin Corp 4.07 12/15/42 1 1 Baa1 BBB+ 12/15/42 15.13 4.15 1 0.03 -5.27 Nbcuniversal Media L 4.45 1/15/43 1 1 A3 A- 1/15/43 14.74 4.37 1 0.04 -6.26 Nucor Corp Sr Nt 5.2 5.20 8/01/43 0 1 Baa1 A- 2/01/43 14.51 4.19 1 0.03 -3.67 Viacom Inc New Sr De 5.85 9/01/43 0 2 Baa3 BBB- 9/01/43 13.52 5.29 3 0.08 NA Apache Corp Sr Nt 4. 4.25 1/15/44 4 8 Baa3 BBB 1/15/44 14.92 4.81 7 0.21 -4.25 Comcast Corp New Sr 4.75 3/01/44 3 5 A3 A- 3/01/44 14.94 4.40 5 0.14 -7.04 General Electric Co 4.50 3/11/44 2 3 A2 A 3/11/44 14.96 4.60 3 0.08 -10.13 Pt Pertamina Persero 6.45 5/30/44 1 0 Baa3 BBB- 5/30/44 12.97 5.50 0 0.01 -4.24 Dow Chem Co Sr Glbl 4.63 10/01/44 1 1 Baa2 BBB 10/01/44 15.00 4.45 1 0.03 -4.95 Bae Sys Hldgs Inc Sr 4.75 10/07/44 0 0 Baa2 BBB 10/07/44 14.97 4.27 0 0.00 -2.63 Ingersol Rand Luxemb 4.65 11/01/44 0 0 Baa2 BBB 11/01/44 15.17 4.34 0 0.01 -4.24 Walgreens Boots Alli 4.80 11/18/44 3 0 Baa2 BBB 11/18/44 15.33 4.32 0 0.00 -7.00 Amazon Com Inc Sr Gl 4.95 12/05/44 6 0 Baa1 AA- 12/05/44 15.89 3.68 0 0.00 -6.29 Becton Dickinson & C 4.69 12/15/44 0 0 Ba1 BBB 12/15/44 14.97 4.64 0 0.01 -6.88 Gilead Sciences Inc 4.50 2/01/45 1 1 A3 A 2/01/45 15.59 4.27 1 0.04 -5.72 Apple Inc Sr Nt 3.45 3.45 2/09/45 1 1 Aa1 AA+ 2/09/45 16.74 3.92 1 0.03 -4.57 Enterprise Prods Ope 5.10 2/15/45 0 1 Baa1 BBB+ 2/15/45 14.96 4.53 1 0.02 -3.61 Northrop Grumman Cor 3.85 4/15/45 1 1 Baa2 BBB+ 4/15/45 15.96 4.27 1 0.03 -6.44 Amgen Inc Sr Glbl Nt 4.40 5/01/45 2 3 Baa1 A 5/01/45 15.37 4.41 3 0.09 -7.22 United Technologies 4.15 5/15/45 1 1 A3 A- 5/15/45 15.73 4.35 1 0.03 -8.17
30 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Ochsner Clinic Found 5.90 5/15/45 0 1 A3 BBB+ 11/15/44 14.54 4.22 1 0.02 -1.86 Qualcomm Inc Sr Nt 4 4.80 5/20/45 1 1 A1 A 11/20/44 14.99 4.52 1 0.03 -1.97 Ahs Hosp Corp Tax Bd 5.02 7/01/45 0 1 Aa3 AA- 7/01/45 15.35 4.08 1 0.02 -3.59 Time Warner Inc Sr G 4.85 7/15/45 1 2 Baa2 BBB 7/15/45 14.92 4.71 2 0.06 -1.55 Southern Baptist Hos 4.86 7/15/45 0 1 Aa3 AA 1/15/45 15.49 4.03 1 0.02 -0.50 Cvs Health Corp Sr G 5.13 7/20/45 1 6 Baa1 BBB 1/20/45 14.72 4.72 6 0.18 -6.35 Comcast Corp New Sr 4.60 8/15/45 1 1 A3 A- 2/15/45 15.47 4.37 1 0.03 -6.60 Johnson Controls Int 5.13 9/14/45 1 2 Baa1 BBB+ 9/14/44 15.24 4.34 3 0.08 -3.36 Lowes Cos Inc Sr Glb 4.38 9/15/45 1 2 A3 A- 3/15/45 15.93 4.14 2 0.06 -5.15 Charter Communicatio 6.48 10/23/45 1 0 Ba1 BBB- 10/23/45 13.63 5.33 0 0.00 -4.48 Baylor Scott & White 4.19 11/15/45 0 1 Aa3 AA- 11/15/45 16.31 3.92 1 0.02 -1.56 Trinity Health Cr Gr 4.13 12/01/45 1 2 Aa3 AA- 12/01/45 16.15 4.02 2 0.05 -3.06 McDonalds Corp Med T 4.88 12/09/45 0 0 Baa1 BBB+ 12/09/45 15.43 4.33 1 0.02 -5.03 Marathon Pete Corp S 5.85 12/15/45 1 2 Baa2 BBB 12/15/45 14.03 5.16 2 0.06 -3.16 Analog Devices Inc S 5.30 12/15/45 0 0 Baa1 BBB 12/15/45 15.02 4.48 0 0.01 -3.82 Apple Inc Sr Glbl Nt 4.65 2/23/46 4 6 Aa1 AA+ 2/23/46 16.08 4.04 7 0.21 -4.98 Exxon Mobil Corp Sr 4.11 3/01/46 1 2 Aaa AA+ 3/01/46 16.77 3.82 2 0.06 -5.22 Stryker Corp Sr Glbl 4.63 3/15/46 1 1 Baa1 A 3/15/46 15.99 4.21 1 0.03 -4.95 Enterprise Prods Ope 4.90 5/15/46 1 2 Baa1 BBB+ 5/15/46 15.20 4.51 3 0.08 -2.50 Kraft Heinz Foods Co 4.38 6/01/46 2 4 Baa3 BBB 6/01/46 15.23 4.92 3 0.10 -6.33 Walgreens Boots Alli 4.65 6/01/46 0 0 Baa2 BBB 6/01/46 15.10 4.84 0 0.00 -6.78 Comcast Corp New Nt 3.40 7/15/46 1 1 A3 A- 7/15/46 16.98 4.26 1 0.02 -8.30
31 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Oracle Corp Sr Glbl 4.00 7/15/46 2 3 A1 AA- 1/15/46 16.51 4.09 3 0.08 -6.45 Fidelity Natl Inform 4.50 8/15/46 0 1 Baa2 BBB 2/15/46 15.70 4.52 1 0.02 -3.35 Shell International 3.75 9/12/46 2 3 Aa2 A+ 9/12/46 16.98 3.96 3 0.09 -4.55 Microsoft Corp Sr Gl 4.25 2/06/47 4 7 Aaa AAA 2/06/47 16.92 3.81 8 0.22 -4.97 McDonalds Corp Med T 4.45 3/01/47 0 2 Baa1 BBB+ 3/01/47 16.32 4.26 2 0.05 NA Gilead Sciences Inc 4.15 3/01/47 1 1 A3 A 3/01/47 16.55 4.28 1 0.03 -6.98 Applied Matls Inc Sr 4.35 4/01/47 1 2 A3 A- 4/01/47 16.36 3.98 2 0.05 -4.23 Hess Corp Sr Glbl Nt 5.80 4/01/47 3 5 Ba1 BBB- 4/01/47 13.85 5.45 6 0.17 -4.25 Charter Communicatio 5.38 5/01/47 3 0 Ba1 BBB- 11/01/46 14.54 5.20 0 0.00 -4.37 United Technologies 4.05 5/04/47 2 3 A3 A- 5/04/47 16.31 4.35 3 0.10 -8.29 Sherwin Williams Co 4.50 6/01/47 1 1 Baa3 BBB 6/01/47 15.82 4.53 1 0.03 -7.94 Amazon Com Inc Sr Gl 4.05 8/22/47 1 0 Baa1 AA- 8/22/47 17.39 3.62 0 0.00 -6.21 Concho Res Inc Sr Gl 4.88 10/01/47 1 1 Ba1 BBB- 10/01/47 15.59 4.50 1 0.03 -1.29 Northwell Healthcare 4.26 11/01/47 0 1 A3 A- 11/01/47 16.17 4.34 1 0.02 -2.50 Honeywell Intl Inc S 3.81 11/21/47 0 1 A2 A 5/21/21 4.24 4.35 1 0.02 NA Honeywell Intl Inc S 3.81 11/21/47 0 0 A2 A 11/21/47 17.90 3.59 0 0.00 -4.34 University of Notre 3.39 2/15/48 1 2 Aaa AAA 2/15/48 18.37 3.62 2 0.06 -2.96 Intl Paper Co Sr Glb 4.35 8/15/48 4 7 Baa2 BBB 2/15/48 16.19 4.67 7 0.19 -8.10 George Washington Un 4.13 9/15/48 0 3 A1 A+ 3/15/48 17.14 4.09 3 0.07 NA Orlando Health Oblig 4.09 10/01/48 0 0 A2 A 10/01/48 17.26 4.07 0 0.01 NA Providence Health & 3.93 10/01/48 0 1 Aa3 AA- 10/01/48 17.50 4.00 1 0.04 NA Lockheed Martin Corp 4.09 9/15/52 1 1 Baa1 BBB+ 3/15/52 18.00 4.26 1 0.03 -6.39
32 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Home Depot Inc Sr Gl 3.50 9/15/56 2 0 A2 A 9/15/56 20.55 3.68 0 0.00 -6.28 Northwestern Univ Bd 3.66 12/01/57 2 4 Aaa AAA 12/01/57 20.11 3.73 4 0.12 -3.25 Wesleyan Univ Conn S 4.78 7/01/16 1 1 Aa3 AA 7/01/16 20.34 4.70 1 0.04 -3.18 732 21.64 Miscellaneous Vici Pptys 1 Llc Sr 4.85 10/15/22 1 0 NR NR 10/15/22 0.03 4.88 0 0.00 NA Massachusetts St Cle 5.00 2/01/27 0 0 Aaa AAA 2/01/26 6.80 1.94 0 0.00 -2.32 FHLMC Multiclass Str 0.82 4/25/27 0 12 Aaa NR 12/25/25 6.31 92.80 1 0.02 NA Massachusetts St Cle 5.00 2/01/28 0 0 Aaa AAA 2/01/26 6.95 2.01 0 0.00 -2.25 University Mass Bldg 5.00 11/01/31 0 0 Aa2 AA- 11/01/25 7.48 2.33 0 0.00 -1.90 Gs2005-Rock- 5.37 5/03/32 0 1 Aaa AAA 5/03/32 9.63 5.40 1 0.04 NA Core Industrial T- 3.98 2/10/34 0 3 NR B 2/10/34 11.90 -5.34 3 0.08 NA Csmc Trust2015-Gl- 0.00 11/17/34 0 1 Aaa NR 11/17/34 16.63 -0.12 1 0.04 NA Gahr Commercial M- 3.50 12/15/34 0 1 NR BB- 12/15/34 -0.01 3.50 1 0.04 NA Gahr Commercial Mort 3.50 12/15/34 0 2 NR B 12/15/34 -0.15 3.64 2 0.05 NA Jp Morgan Chase C- 3.48 7/15/36 0 3 Aaa AAA 7/15/36 -0.03 3.43 3 0.09 NA San Diego Calif Pub 5.00 5/15/39 0 1 NR AA+ 11/15/26 8.17 2.99 1 0.02 -1.87 Csmc Trust2017-Ti- 3.65 11/15/39 0 0 Aaa NR 11/15/39 11.72 -2.09 0 0.01 NA Texas Water Dev Brd 5.00 10/15/40 0 0 NR AAA 4/15/26 7.80 2.62 0 0.00 -3.19 Central Tex Regl Mob 5.00 1/01/45 0 0 Baa2 BBB+ 1/01/27 8.27 3.68 0 0.01 -1.66 Texas Water Dev Brd 5.00 10/15/45 0 0 NR AAA 10/15/26 8.07 2.74 0 0.00 -2.98 Central Tex Regl Mob 5.00 1/01/46 0 0 Baa2 BBB+ 7/01/27 8.67 3.79 0 0.01 -2.10
33 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Miscellaneous (cont.) Comm Mortgage Trust 4.24 2/12/47 0 0 Aaa NR 2/12/47 -0.38 4.26 0 0.01 NA Citigroup Commercial 5.06 3/12/47 0 0 A3 NR 9/11/23 4.68 4.68 0 0.01 NA Comm Mortgage Tru- 4.01 4/12/47 0 0 Aaa NR 4/11/47 16.64 4.00 1 0.01 NA Wfrbs Commercial- 1.37 5/17/47 0 2 Aaa NR 5/17/47 23.82 1.37 0 0.00 NA Morgan Stanley Ba- 3.89 6/17/47 0 1 Aaa NR 6/17/47 17.00 3.91 1 0.04 NA Comm Mortgage Trust 3.55 7/17/47 0 0 Aaa AAA 7/17/47 18.43 3.55 0 0.01 NA Comm Mortgage Tru- 3.80 8/12/47 0 1 Aaa NR 8/12/47 17.24 3.81 1 0.02 NA Jpmbb Commercial- 3.78 8/16/47 0 1 Aaa NR 8/15/47 17.32 3.53 1 0.02 NA Morgan Stanley Ba-A- 3.73 8/16/47 0 0 Aaa NR 8/16/47 14.18 0.51 0 0.01 NA Wfrbs Commercial- 3.68 8/16/47 0 1 Aaa NR 8/16/47 14.17 0.52 1 0.02 NA Gs Mortgage Secur- 3.93 9/12/47 0 0 Aaa NR 9/12/47 16.72 3.68 0 0.01 NA Jpmbb Commercial- 3.80 9/17/47 0 0 Aaa NR 9/17/47 17.26 3.82 0 0.01 NA Jpmbb Commercial-X-A 1.58 9/17/47 0 2 NR NR 9/17/47 0.00 0.00 0 0.00 NA Cfcre Commercial-A-3 3.87 1/10/48 0 0 Aaa NR 1/10/48 14.09 0.85 0 0.01 NA Jpmbb Commercial- 3.49 1/17/48 0 1 Aaa NR 1/16/48 16.32 1.69 1 0.02 NA Comm Mortgage Tru-D 3.95 8/12/48 0 0 Baa3 NR 8/12/48 16.58 2.68 0 0.00 NA Comm Mortgage Tru-A- 3.76 8/12/48 0 1 Aaa NR 8/12/48 14.42 0.77 1 0.04 NA Fremf Mortgage Tr-B 3.76 8/25/48 0 0 Baa1 NR 8/25/48 -0.72 3.92 0 0.01 NA Comm Mortgage Tru-A- 3.77 10/13/48 0 0 Aaa NR 10/13/48 14.43 0.84 0 0.01 NA Texas Private Activi 5.00 12/31/55 0 0 Baa3 NR 12/31/53 16.99 4.54 0 0.01 -0.93 Wells Fargo Comme- 3.77 7/17/58 0 1 Aaa NR 7/17/58 -0.64 3.79 1 0.04 NA 25 0.73
34 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Mortgage 13-M05b-X2 2.32 1/25/22 0 6 Aaa AA+ 3/25/19 3.67 2.32 6 0.19 NA Freddie Mac 3.06 7/25/23 0 1 Aaa NR 5/25/23 4.73 3.04 1 0.03 NA Freddie Mac 3.53 7/25/23 0 1 Aaa NR 6/25/23 0.06 3.51 1 0.02 NA Freddie Mac 3.53 10/25/23 0 1 Aaa NR 8/25/23 4.87 3.50 1 0.02 NA Freddie Mac 3.24 9/25/24 0 0 Aaa AAA 8/25/24 5.68 3.01 0 0.01 NA Freddie Mac 2.77 5/25/25 0 1 NR NR 5/25/25 6.40 2.76 1 0.04 NA FHLMC Multiclass Str 1.40 5/25/26 0 5 Aaa NR 3/25/25 6.66 1.73 5 0.14 NA Bamll Commercial Mor 3.66 9/15/26 0 1 NR BB- 4/15/18 0.04 3.68 1 0.03 NA 15-M10b-A2 3.09 4/25/27 0 0 NR NR 12/25/20 2.58 3.41 0 0.01 NA Jp Morgan Chase Comm 3.43 6/10/27 0 0 Aaa AAA 6/12/19 1.16 3.40 0 0.01 NA Comm Mortgage Trust 1.00 8/13/27 0 2 NR AAA 4/16/18 0.05 0.68 2 0.07 NA Comm Mortgage Trust 3.35 8/13/27 0 0 NR B 4/16/18 0.05 2.37 0 0.01 NA Citigroup Commercial 0.57 9/15/27 0 2 NR AAA 4/15/18 0.04 0.57 2 0.06 NA Gs Mortgage Securiti 3.55 12/10/27 0 1 NR BB+ 12/12/19 1.62 3.45 1 0.04 NA Fnr2018-M1-A2 3.09 12/25/27 0 1 Agy AGY 11/25/22 5.06 -3.10 1 0.02 NA Comm Mortgage Trust 3.37 2/11/28 0 1 Aaa NR 2/11/28 9.16 -18.35 1 0.02 NA Cgbam Commercial Mor 3.79 4/12/28 0 0 NR B+ 4/12/20 1.92 3.81 0 0.00 NA Cgbam Commercial Mor 3.79 4/12/28 0 1 NR BB+ 4/12/20 1.92 3.81 1 0.03 NA Lone Star Portfol-A- 2.23 9/15/28 0 1 NR AAA 9/15/28 9.38 2.23 1 0.02 NA Lone Star Portfol-E 6.03 9/15/28 0 1 NR BB+ 9/15/28 7.88 6.04 1 0.02 NA Americold 2010 Llc T 6.81 1/17/29 0 0 A2 AA- 1/14/21 2.46 6.89 0 0.01 NA Gs Mortgage Securiti 4.07 2/12/29 0 1 A3 NR 4/12/22 3.49 4.10 1 0.01 NA
35 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Mortgage (cont.) Csmc Trust 1.51 4/16/29 0 3 NR AAA 4/15/18 0.04 1.51 3 0.08 NA Morgan Stanley Capit 3.56 7/13/29 0 1 NR BB 7/14/21 3.05 3.48 1 0.03 NA Morgan Stanley Capit 3.56 7/13/29 0 1 NR BB- 7/14/21 3.05 3.48 1 0.02 NA Morgan Stanley Capit 3.45 7/13/29 0 0 Baa3 BBB- 7/14/21 3.05 3.48 0 0.00 NA Jp Morgan Chase Comm 4.19 10/15/29 0 0 NR BB- 4/17/18 0.05 4.22 0 0.01 NA Aoa Mortgage Trust 3.01 12/13/29 0 1 A3 A- 12/13/21 3.45 3.05 1 0.02 NA Comm Mortgage Trust 3.90 3/15/31 0 1 Baa3 AA+ 3/11/23 4.41 3.91 1 0.03 NA Comm Mortgage Trust 1.03 2/13/32 0 1 Aaa NR 4/13/18 0.04 1.03 1 0.02 NA Comm Mortgage Trust 1.81 2/13/32 0 2 NR NR 4/13/18 0.04 -0.81 2 0.04 NA Clns Trust 5.24 6/11/32 0 2 NR BB- 2/13/20 1.65 5.30 2 0.05 NA Progress Residential 2.74 6/14/32 0 1 Aaa NR 6/15/20 2.11 2.71 1 0.02 NA Csmc Trust 5.08 7/15/32 0 1 NR BB- 1/17/20 1.62 5.13 1 0.03 NA Colony American Home 1.66 7/19/32 0 4 Aaa NR 4/17/18 0.05 1.67 4 0.12 NA Invitation Homes Tru 1.54 8/19/32 0 4 Aaa NR 4/17/18 0.05 1.49 4 0.13 NA Madison Avenue Trust 4.03 10/15/32 0 1 NR NR 1/15/23 9.35 -4.04 1 0.04 NA Fannie Mae 5.27 10/25/32 0 2 Aaa AAA 2/25/20 1.72 5.13 2 0.06 NA Aventura Mall Trust 3.87 12/07/32 0 0 Baa1 NR 12/07/20 2.50 3.81 0 0.00 NA Bway Mortgage Trust 4.06 3/10/33 0 2 NR BB 3/11/25 5.94 4.00 2 0.05 NA Bway Mortgage Trust 3.63 3/10/33 0 1 Baa2 BBB 3/11/25 6.02 3.64 1 0.02 NA Bamll Commercial Mor 3.72 4/15/33 0 1 NR BB- 4/15/25 6.10 3.65 1 0.03 NA Core Industrial Trus 3.98 2/10/34 0 1 Baa3 BBB- 2/10/34 11.90 -5.34 1 0.02 NA Morgan Stanley Capit 5.18 2/15/34 0 0 NR BBB- 10/15/24 5.05 5.23 0 0.01 NA
36 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Mortgage (cont.) Citigroup Commercial 3.64 5/11/35 0 0 Ba1 NR 5/12/23 4.59 3.57 0 0.01 NA Citigroup Commercial 3.64 5/11/35 0 0 Baa1 NR 5/12/23 4.59 3.57 0 0.00 NA Bayview Commercial A 0.83 8/25/35 0 6 Baa3 BB+ 11/25/22 0.06 2.19 6 0.17 NA Bayview Commercia- 2.32 1/25/36 0 1 Ba2 NR 1/25/36 -0.00 2.29 1 0.03 NA Bayview Commercia- 2.26 1/25/36 0 0 Baa3 NR 1/25/36 -0.00 2.24 0 0.01 NA Bb-Ubs Trust 4.16 11/07/36 0 0 Baa3 BBB- 11/07/24 5.66 4.11 0 0.01 NA Core Industrial Trus 1.08 2/12/37 0 5 Aaa AAA 2/12/37 17.12 1.08 5 0.14 NA Rait Trust 2.66 6/15/37 0 2 Aaa NR 9/17/19 1.41 2.68 2 0.05 NA Credit Suisse First 4.95 7/17/37 0 0 B1 B- 12/15/18 0.72 4.74 0 0.00 NA Jp Morgan Chase Comm 6.14 8/12/40 0 1 Baa2 NR 4/12/22 3.49 6.17 1 0.02 NA Merrill Lynch Mortga 6.32 9/12/42 0 1 Aa3 AA+ 12/12/19 1.56 6.38 1 0.02 NA Morgan Stanley ABS C 6.18 10/15/42 0 1 Aa3 BBB+ 4/15/18 0.04 0.41 1 0.02 NA Asset Securitization 6.93 2/14/43 0 3 NR NR 3/14/19 0.85 6.96 3 0.09 NA Comm Mortgage Trust 4.76 2/12/47 0 0 A3 NR 2/12/47 -0.38 4.80 0 0.00 NA Comm Mortgage Trust 4.05 4/12/47 0 2 Aaa AAA 3/12/24 5.18 4.06 2 0.07 NA Comm Mortgage Trust 3.98 5/10/47 0 1 Aaa NR 4/12/24 5.26 3.99 1 0.04 NA Gs Mortgage Securiti 4.80 6/12/47 0 0 NR NR 6/11/24 5.24 4.79 0 0.00 NA Jpmbb Commercial Mor 1.02 9/17/47 0 20 Aa1 NR 9/17/47 20.35 -6.75 20 0.59 NA Comm Mortgage Trust 4.56 12/12/47 0 0 A3 NR 12/12/24 5.65 4.52 0 0.01 NA Comm Mortgage Trust 4.26 2/12/48 0 0 A3 NR 2/12/48 -0.40 4.29 0 0.01 NA Comm Mortgage Tru-D 2.87 2/12/48 0 1 Baa3 NR 2/12/48 19.66 2.87 1 0.03 NA Citigroup Commercial 1.45 2/12/48 0 4 Aa1 NR 10/12/25 15.88 2.91 0 0.01 NA
37 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Mortgage (cont.) Wells Fargo Commerci 1.17 2/18/48 0 8 NR NR 2/18/48 25.29 1.17 8 0.24 NA Wells Fargo Commerci 3.90 2/18/48 0 0 NR NR 9/17/25 5.85 3.90 0 0.01 NA Jpmbb Commercial Mor 1.36 2/18/48 0 18 Aa1 NR 2/18/48 24.64 1.36 18 0.54 NA Morgan Stanley Bank 1.20 4/17/48 0 1 Aa1 NR 4/17/48 25.30 1.20 1 0.04 NA Jpmbb Commercial Mor 1.11 5/15/48 0 1 Aa1 NR 5/15/48 25.70 1.11 1 0.04 NA B2r Mortgage Trust 0.00 5/15/48 0 0 NR NR 5/15/48 30.12 0.04 0 0.01 NA Fremf Mortgage Tr-B 3.60 6/25/48 0 0 Baa1 NR 6/25/48 -0.51 3.66 0 0.01 NA Comm Mortgage Trust 4.46 7/10/48 0 1 NR NR 7/10/48 -0.41 4.49 1 0.02 NA Gs Mortgage Secur-D 3.35 7/10/48 0 0 Baa3 NR 7/10/48 14.95 0.08 0 0.01 NA Bank of America Merr 1.09 9/17/48 0 1 Aaa NR 9/17/48 20.35 -6.17 1 0.02 NA Wachovia Bank Commer 5.63 10/15/48 0 0 Ba3 BBB- 4/17/19 0.05 5.47 0 0.01 NA Cd 2006-Cd3 Mortgage 5.65 10/15/48 0 3 A1 A 4/17/18 0.05 0.99 3 0.10 NA Morgan Stanley Ba-D 3.06 10/19/48 0 1 Baa3 NR 10/19/48 15.54 -0.44 1 0.03 NA Jpmbb Commercial Mor 1.21 10/19/48 0 4 Aa1 NR 10/19/48 25.45 1.23 4 0.11 NA Jpmbb Commercial Mor 3.99 10/19/48 0 1 NR NR 3/15/25 5.95 3.99 1 0.04 NA B2r Mortgage Trust 3.34 11/18/48 0 1 NR NR 4/17/22 3.56 3.36 1 0.02 NA Wells Fargo Comme-A- 3.70 11/18/48 0 1 Aaa NR 11/18/48 17.09 2.91 1 0.03 NA Wells Fargo Comme-X- 0.00 12/17/48 0 2 NR NR 12/17/48 31.04 -1.57 2 0.05 NA Wells Fargo Comme-A- 0.00 12/17/48 0 0 Aaa NR 12/17/48 31.06 -1.69 0 0.01 NA Wells Fargo Comme-D 3.60 12/17/48 0 0 Baa2 NR 12/17/48 5.51 2.79 0 0.00 NA Jpmcc Commercial-C 4.74 1/15/49 0 2 A3 NR 1/15/49 -0.42 4.78 2 0.07 NA Banc of America Comm 5.48 1/15/49 0 0 Ba1 NR 6/15/45 -0.33 5.53 0 0.01 NA
38 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Mortgage (cont.) Morgan Stanley Bank 1.30 1/15/49 0 2 Aaa NR 3/17/26 7.25 1.30 2 0.06 NA Citigroup Commercial 1.72 4/16/49 0 4 Aa1 NR 12/17/25 6.86 1.72 4 0.12 NA Gs Mortgage Securiti 1.29 10/13/49 0 2 Aa1 NR 5/13/26 7.37 1.29 2 0.07 NA Cd Mortgage Trust-A- 3.63 2/11/50 0 0 Aaa NR 2/11/50 18.11 3.29 0 0.01 NA Lstar Commercial Mor 1.39 3/11/50 0 2 NR NR 3/11/50 25.49 1.40 2 0.06 NA Fremf Mortgage Tr-B 4.12 5/25/50 0 1 NR A- 5/25/50 -0.61 4.21 1 0.03 NA Morgan Stanley Ca-A- 3.53 6/17/50 0 1 Aaa NR 6/17/50 18.75 3.55 1 0.02 NA Ubs Commercial Mortg 1.62 6/17/50 0 3 Aaa NR 6/17/26 7.28 1.62 3 0.10 NA Gs Mortgage Secur-A- 3.43 8/12/50 0 0 Aaa NR 8/12/50 18.94 3.53 0 0.01 NA Wells Fargo Comme-X- 1.39 11/17/50 0 8 Aaa NR 11/17/50 6.82 16.73 1 0.02 NA Merrill Lynch Mortga 6.53 2/12/51 0 0 Aaa A 4/14/18 0.04 4.54 0 0.01 NA G13-063a-Io 0.77 9/16/51 0 14 Aaa AA+ 11/16/26 -42.79 0.85 14 0.43 NA Bank 2017-Bnk9201-A- 3.54 11/17/54 0 0 Aaa NR 11/17/54 16.38 1.49 0 0.01 NA G15-022-Io 0.83 3/16/55 0 7 Aaa AA+ 7/16/24 -61.67 1.01 7 0.21 NA Cfcre Commercial Mor 1.94 5/10/58 0 3 NR NR 5/10/26 7.03 1.95 3 0.09 NA 191 5.66 Municipals Municipal Elec Auth 5.00 1/01/20 0 0 A2 A 1/01/20 1.87 1.95 0 0.00 0.20 Florida Hurricane Ca 3.00 7/01/20 1 2 Aa3 AA 7/01/20 2.19 2.74 2 0.05 -0.00 New York Transn Dev 5.00 8/01/20 1 1 NR BB- 8/01/20 2.19 2.49 1 0.03 0.39 Clark Cnty Nev Arpt 5.00 7/01/21 0 1 A1 A+ 7/01/21 2.99 2.14 1 0.03 0.52 Florida St Brd Admin 2.64 7/01/21 1 2 Aa3 AA 7/01/21 3.13 2.85 2 0.06 -0.09
39 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) Massachusetts Edl Fi 5.00 1/01/22 0 0 A1 AA 1/01/22 3.40 2.65 0 0.01 0.43 Pennsylvania Economi 5.00 12/31/22 0 0 NR BBB 12/31/22 4.21 2.67 1 0.02 -0.91 Perusahaan Penerbit 3.75 3/01/23 0 1 Baa3 BBB- 3/01/23 4.53 3.90 1 0.02 NA West Virginia St Hos 5.00 6/01/23 0 0 A2 A 6/01/23 4.53 2.53 0 0.01 -0.98 Clark Cnty Nev Sch D 5.00 6/15/23 0 0 A1 AA- 6/15/23 4.84 2.03 0 0.00 -1.33 South Carolina St Pu 2.39 12/01/23 1 1 A1 A+ 12/01/23 5.32 3.47 1 0.04 -0.15 West Virginia St Hos 5.00 6/01/24 0 0 A2 A 6/01/24 5.29 2.62 1 0.01 -1.41 Clark Cnty Nev Sch D 5.00 6/15/24 0 0 A1 AA- 6/15/24 5.61 2.12 0 0.00 -2.03 Houston Tex Arpt Sys 5.00 7/01/24 0 0 A2 A+ 7/01/22 4.01 2.61 0 0.01 -1.74 Maryland St Go Bds 5.00 8/01/24 1 0 Aaa AAA 8/01/24 5.65 1.80 0 0.00 -1.84 South Carolina St Pu 5.00 12/01/24 0 0 A1 A+ 12/01/24 5.94 2.25 0 0.00 -2.77 Virginia Commlth Tra 5.00 3/15/25 1 0 Aa1 AA+ 3/15/25 6.17 1.95 0 0.00 -1.82 University Calif Rev 3.06 7/01/25 0 1 Aa2 AA 7/01/25 6.55 3.16 1 0.03 2.59 Port Auth N Y & N J 5.00 9/15/25 0 1 Aa3 AA- 9/15/25 6.30 2.76 1 0.04 NA Metropolitan Transn 5.00 11/15/25 0 0 A1 AA- 11/15/25 6.65 2.12 0 0.00 -2.02 South Carolina St Pu 5.00 12/01/25 0 0 A1 A+ 6/01/25 6.35 2.34 0 0.00 -3.07 Virginia Commlth Tra 5.00 3/15/26 1 0 Aa1 AA+ 3/15/26 6.89 2.03 0 0.00 -2.27 New Jersey St Edl Fa 5.00 7/01/26 0 0 Aaa AAA 7/01/26 7.14 1.87 0 0.00 -2.54 Georgia St Go Ref Bd 5.00 7/01/26 0 0 Aaa AAA 7/01/26 7.00 1.89 0 0.00 -2.46 Palm Beach Cnty Fla 5.00 8/01/26 1 0 Aa3 NR 8/01/26 7.11 2.16 0 0.00 -2.41 Maryland St Go Bds 5.00 8/01/26 0 0 Aaa AAA 8/01/26 7.10 1.92 0 0.00 -2.61 Virginia Commlth Tra 5.00 9/15/26 1 0 Aa1 AA+ 9/15/26 7.24 2.07 0 0.00 -2.33
40 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) Metropolitan Transn 5.00 11/15/26 1 0 A1 AA- 11/15/26 7.35 2.20 0 0.00 -2.97 South Carolina St Pu 5.00 12/01/26 0 0 A1 A+ 6/01/25 6.41 2.43 0 0.00 -3.16 Texas Mun Gas Acquis 6.25 12/15/26 0 0 A3 A- 6/15/23 4.55 2.74 0 0.01 -1.24 New York St Dorm Aut 5.00 2/15/27 0 0 Aa1 AAA 8/15/26 7.05 2.52 0 0.01 -2.37 Ohio St Go Higher Ed 5.00 5/01/27 0 0 Aa1 AA+ 5/01/25 6.24 2.00 0 0.00 -1.07 Wisconsin St Gen Fd 3.15 5/01/27 1 2 Aa2 AA- 5/01/27 7.96 3.36 2 0.05 -0.40 Clark Cnty Nev Sch D 5.00 6/15/27 0 0 A1 AA- 12/15/25 6.67 2.85 0 0.01 -3.20 Maryland St Health & 5.25 7/01/27 0 0 NR BBB 7/01/24 5.71 3.09 0 0.01 -1.58 California St for Pr 5.00 9/01/27 0 0 Aa3 AA- 9/01/26 7.30 1.98 0 0.00 -3.09 South Carolina St Pu 5.00 12/01/27 0 0 A1 A+ 6/01/26 7.27 2.58 0 0.00 -3.36 New York St Dorm Aut 5.00 2/15/28 0 0 Aa1 AAA 8/15/26 7.25 2.59 0 0.01 -2.42 Perusahaan Penerbit 4.40 3/01/28 0 1 Baa3 BBB- 3/01/28 8.14 4.31 1 0.02 NA Clark Cnty Nev Sch D 5.00 6/15/28 0 0 A1 AA- 12/15/25 6.95 2.95 0 0.01 -3.18 Oregon Sch Brds Assn 4.76 6/30/28 1 2 Aa2 AA 6/30/18 0.14 NA 2 0.07 0.34 Washington St for Is 5.00 7/01/28 0 0 Aa1 AA+ 1/01/25 6.22 2.06 0 0.00 -2.92 Washington St for Is 5.00 8/01/28 0 0 Aa1 AA+ 8/01/26 7.41 2.23 0 0.00 -2.41 Denver Colo City & C 5.00 11/15/28 0 1 A1 A+ 11/15/27 7.97 2.98 1 0.02 -2.60 South Carolina St Pu 5.00 12/01/28 0 0 A1 A+ 6/01/26 7.56 2.69 0 0.00 -2.93 South Carolina St Pu 5.00 12/01/28 0 0 A1 A+ 6/01/25 6.88 2.57 0 0.00 -3.01 Jobsohio Beverage Sy 3.99 1/01/29 0 1 Aa3 AA 7/01/26 7.00 3.36 1 0.04 NA New Jersey St Transn 5.00 6/15/29 0 0 Baa1 A+ 12/15/26 7.65 3.64 0 0.01 -1.90 Washington St for Is 5.00 8/01/29 0 0 Aa1 AA+ 2/01/27 7.65 2.31 0 0.00 -2.39
41 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) Wisconsin St for Iss 5.00 11/01/29 1 0 Aa1 AA 5/01/27 8.24 2.23 0 0.00 -2.25 Missouri St Health & 5.00 11/15/29 0 0 A1 A+ 11/15/26 7.58 3.10 0 0.01 -2.04 Denver Colo City & C 5.00 11/15/29 0 1 A1 A+ 5/15/28 8.24 3.08 1 0.02 -2.66 South Carolina St Pu 5.00 12/01/29 0 0 A1 A+ 6/01/26 7.82 2.79 0 0.00 -2.85 Salt Riv Proj Agric 5.00 1/01/30 0 0 Aa1 AA 7/01/28 8.54 2.28 0 0.00 -2.42 Aldine Tex Indpt Sch 5.00 2/15/30 1 0 Aaa AAA 8/15/27 8.06 2.37 0 0.00 -2.46 Ohio St Go Higher Ed 5.00 5/01/30 0 1 Aa1 AA+ 11/01/25 6.88 2.72 1 0.02 -2.58 Washington St for Is 5.00 7/01/30 1 2 Aa1 AA+ 7/01/25 6.77 2.86 2 0.07 -2.84 Washington St for Is 5.00 8/01/30 0 0 Aa1 AA+ 2/01/27 7.80 2.76 1 0.02 -2.17 Alamo Tex Cmnty Coll 5.00 8/15/30 0 0 Aaa AAA 8/15/27 8.39 2.36 0 0.00 -2.59 Denver Colo City & C 5.00 11/15/30 0 0 A1 A+ 5/15/28 8.40 3.14 1 0.02 -2.64 Salt Riv Proj Agric 5.00 1/01/31 0 0 Aa1 AA 7/01/28 8.65 2.38 0 0.00 -2.17 Colorado Health Facs 5.25 2/01/31 0 0 Baa1 BBB+ 8/01/21 3.72 3.32 0 0.01 -0.23 New York St Dorm Aut 5.00 2/15/31 0 0 Aa1 AAA 2/15/27 7.89 2.84 0 0.01 -2.23 Univ Ca Taxable 4.60 5/15/31 1 1 Aa2 AA 5/15/28 8.09 3.38 1 0.03 0.38 New York N Y City Tr 5.00 8/01/31 0 0 Aa1 AAA 2/01/27 7.90 2.85 0 0.01 -2.57 Alamo Tex Cmnty Coll 5.00 8/15/31 0 0 Aaa AAA 2/15/28 8.46 2.45 0 0.00 -2.50 Wisconsin St for Iss 5.00 11/01/31 1 0 Aa1 AA 5/01/27 8.43 2.36 0 0.00 -2.00 South Carolina St Pu 5.00 12/01/31 0 0 A1 A+ 6/01/27 8.30 2.92 0 0.00 -3.07 New York St Dorm Aut 5.00 3/15/32 0 1 Aa1 AAA 9/15/25 7.41 2.70 1 0.02 -2.38 Ohio St Common Schoo 5.00 3/15/32 1 1 Aa1 AA+ 9/15/24 6.34 2.71 1 0.04 -1.83 Ohio St Go Higher Ed 5.00 5/01/32 0 1 Aa1 AA+ 11/01/25 7.08 2.85 1 0.03 -2.37
42 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) Wisconsin St for Iss 5.00 5/01/32 0 0 Aa1 AA 11/01/25 7.08 2.77 1 0.02 -1.71 Los Angeles Cnty Cal 5.00 7/01/32 1 0 Aa1 AAA 1/01/28 8.48 2.32 0 0.00 -1.78 Metropolitan Wash D 5.00 10/01/32 1 1 Aa3 AA- 10/01/27 8.08 3.34 1 0.04 -2.85 University Houston T 5.00 2/15/33 0 0 Aa2 AA 8/15/26 7.81 3.05 1 0.02 -1.91 Wisconsin St for Iss 5.00 5/01/33 0 0 Aa1 AA 11/01/25 7.17 2.87 1 0.02 -1.88 Great Lakes Wtr Auth 5.25 7/01/33 0 0 A3 A- 1/01/27 7.82 3.00 0 0.01 -2.15 California Health Fa 5.00 8/15/33 0 1 Aa3 NR 2/15/27 8.06 2.86 1 0.02 -1.59 Wisconsin St for Iss 5.00 11/01/33 0 1 Aa1 AA 11/01/27 8.37 2.86 1 0.03 -1.90 Denver Colo City & C 5.00 11/15/33 0 0 A1 A+ 11/15/27 8.76 2.65 0 0.00 -1.82 Salt Riv Proj Agric 5.00 1/01/34 0 0 Aa1 AA 7/01/28 8.81 2.52 0 0.00 -2.28 University Houston T 5.00 2/15/34 0 0 Aa2 AA 8/15/26 7.89 3.09 0 0.01 -1.90 New York St Dorm Aut 5.00 2/15/34 0 0 Aa1 AAA 2/15/28 8.63 2.62 0 0.00 -2.68 Wisconsin St for Iss 5.00 5/01/34 0 1 Aa1 AA 11/01/25 7.25 2.92 1 0.02 -1.93 Miami-Dade Cnty Fla 5.00 7/01/34 0 0 Aa2 AA 7/01/27 8.08 3.12 1 0.02 -2.01 Los Angeles Calif Un 6.76 7/01/34 1 2 Aa2 AA- 7/01/32 9.79 3.69 3 0.08 -1.94 New Jersey St Edl Fa 5.00 7/01/34 0 0 Aaa AAA 1/01/28 8.64 2.42 0 0.00 -2.04 District Columbia Ho 5.00 7/15/34 0 0 A1 NR 1/15/27 7.93 3.30 0 0.01 -1.65 Alamo Tex Cmnty Coll 5.00 8/15/34 0 1 Aaa AAA 2/15/28 8.57 2.94 1 0.02 -2.17 District Columbia In 5.59 12/01/34 1 1 Aa1 AAA 12/01/30 9.17 3.58 1 0.03 -1.77 Salt Riv Proj Agric 5.00 1/01/35 0 0 Aa1 AA 7/01/28 8.86 2.55 0 0.00 -2.35 North Tex Twy Auth R 5.00 1/01/35 0 0 A1 A 7/01/27 8.47 2.86 0 0.00 -1.81 New York N Y City Tr 5.00 2/01/35 0 0 Aa1 AAA 8/01/26 7.91 3.09 1 0.02 -2.49
43 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) New York St Dorm Aut 5.00 2/15/35 0 0 Aa1 AAA 2/15/28 8.68 2.65 0 0.00 -2.59 University Houston T 5.00 2/15/35 1 1 Aa2 AA 8/15/26 7.97 3.14 1 0.03 -1.95 Puerto Rico Comwlth 8.00 7/01/35 7 6 Ca NR 1/01/31 4.42 22.18 2 0.07 87.27 Miami-Dade Cnty Fla 5.00 7/01/35 0 0 Aa2 AA 7/01/27 8.15 3.15 1 0.02 -2.00 New Jersey St Edl Fa 5.00 7/01/35 1 0 Aaa AAA 1/01/28 8.69 2.45 0 0.00 -2.11 District Columbia Ho 5.00 7/15/35 0 0 A1 NR 1/15/27 8.01 3.33 0 0.01 -1.71 Alamo Tex Cmnty Coll 5.00 8/15/35 0 1 Aaa AAA 2/15/28 8.64 2.99 1 0.02 -2.24 Kansas St Dept Trans 5.00 9/01/35 0 0 Aa2 AAA 3/01/26 7.64 2.91 1 0.01 -2.07 Liberty Ny Dev Corp 5.25 10/01/35 0 0 A3 BBB+ 10/01/35 11.73 3.41 1 0.02 -4.36 Houston Tex Util Sys 5.00 11/15/35 0 1 Aa2 NR 11/15/27 8.31 3.13 1 0.02 -2.10 Salt Riv Proj Agric 5.00 1/01/36 0 0 Aa1 AA 7/01/28 8.90 2.57 0 0.00 -2.42 New York St Dorm Aut 5.00 2/15/36 0 1 Aa1 AAA 2/15/28 8.70 3.13 1 0.03 -2.81 University Houston T 5.00 2/15/36 1 1 Aa2 AA 8/15/26 8.05 3.18 1 0.04 -2.01 New York N Y City Tr 5.00 5/01/36 0 0 Aa1 AAA 5/01/27 8.07 3.15 1 0.02 -2.63 Wisconsin St for Iss 5.00 5/01/36 0 1 Aa1 AA 11/01/25 7.41 3.03 1 0.02 -2.26 Alamo Tex Cmnty Coll 5.00 8/15/36 0 1 Aaa AAA 2/15/28 8.70 3.02 1 0.03 -2.30 Texas St Ref Mobilit 5.00 10/01/36 1 0 Aaa AAA 4/01/26 7.57 2.35 0 0.00 -2.74 Salt Riv Proj Agric 5.00 12/01/36 0 1 Aa1 AA 6/01/26 7.54 3.10 1 0.02 -2.83 Salt Riv Proj Agric 5.00 1/01/37 1 0 Aa1 AA 7/01/28 8.95 2.61 0 0.00 -2.41 New York St Dorm Aut 5.00 2/15/37 0 1 Aa1 AAA 2/15/28 8.76 3.16 1 0.03 -2.80 Alamo Tex Cmnty Coll 5.00 8/15/37 0 1 Aaa AAA 2/15/28 8.76 3.05 1 0.03 -2.30 Salt Riv Proj Agric 5.00 1/01/38 0 0 Aa1 AA 7/01/28 8.99 2.63 0 0.00 -2.56
44 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) New York St Dorm Aut 5.00 2/15/38 0 0 Aa1 AAA 2/15/28 8.82 3.17 1 0.02 -2.65 Wisconsin St for Iss 5.00 5/01/38 0 1 Aa1 AA 5/01/26 7.52 3.07 1 0.02 -2.07 Commonwealth Fing Au 4.14 6/01/38 0 1 A1 A 6/01/38 13.99 3.87 1 0.03 -1.17 Alamo Tex Cmnty Coll 5.00 8/15/38 0 1 Aaa AAA 2/15/28 8.81 3.08 1 0.03 -2.29 Miami-Dade Cnty Fla 5.00 10/01/38 0 1 NR A 10/01/26 8.05 3.62 1 0.02 -2.82 Pennsylvania Economi 5.00 12/31/38 0 0 NR BBB 12/31/27 8.65 3.98 0 0.00 -3.40 North Tex Twy Auth R 5.00 1/01/39 0 0 A2 A- 1/01/28 8.69 3.00 0 0.00 -2.41 North Tex Twy Auth R 5.00 1/01/39 0 0 A1 A 7/01/27 8.63 2.82 0 0.00 -2.23 Salt Riv Proj Agric 5.00 1/01/39 0 0 Aa1 AA 7/01/28 9.03 2.64 0 0.00 -2.63 New York St Dorm Aut 5.00 2/15/39 0 0 Aa1 AAA 2/15/28 8.88 3.22 1 0.02 -2.86 California St Go Bds 7.55 4/01/39 1 2 Aa3 AA- 4/01/39 12.14 3.89 3 0.08 -2.05 Michigan Fin Auth Re 5.00 6/01/39 0 0 A1 A+ 6/01/25 7.04 3.36 0 0.01 -1.52 Massachusetts Bay Tr 5.00 7/01/39 0 0 Aa3 AA 1/01/28 8.81 3.19 1 0.02 -2.69 Royal Oak Mich Hosp 5.00 9/01/39 0 1 A1 A 3/01/25 7.11 3.54 1 0.02 -1.37 Metropolitan Wash D 0.00 10/01/39 0 0 A3 AA 10/01/39 21.37 3.65 0 0.00 -8.42 Massachusetts St Com 5.00 11/01/39 1 0 Aa1 AA 5/01/28 8.96 2.69 0 0.00 -2.33 California St Go Bds 7.35 11/01/39 0 1 Aa3 AA- 5/01/37 11.47 3.88 1 0.03 -1.38 Metropolitan Transn 6.67 11/15/39 0 0 A1 A+ 11/15/36 11.61 3.97 0 0.01 -3.16 Metropolitan Transn 5.87 11/15/39 0 0 A1 A+ 5/15/35 11.12 3.93 0 0.01 -2.88 New Orleans La Aviat 5.00 1/01/40 0 1 A3 A- 1/01/26 7.71 3.66 1 0.02 -2.10 New York St Dorm Aut 5.00 2/15/40 1 1 Aa1 AAA 2/15/28 8.93 3.23 1 0.03 -2.79 Dorm Authority State 5.39 3/15/40 0 1 Aa1 AAA 3/15/37 12.48 3.85 1 0.02 -3.40
45 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) Bay Area Toll Auth C 6.92 4/01/40 1 1 A1 AA- 4/01/36 11.22 3.86 2 0.06 -2.25 Massachusetts St Tra 5.00 6/01/40 0 0 Aa1 AAA 12/01/27 9.02 2.64 0 0.00 -2.74 Los Angeles Cnty Cal 5.00 7/01/40 1 0 Aa1 AAA 1/01/28 8.83 2.53 0 0.00 -2.75 Massachusetts Bay Tr 5.00 7/01/40 0 0 Aa3 AA 7/01/28 8.87 3.23 1 0.02 -2.83 New York N Y City Tr 5.00 7/15/40 0 0 Aa2 AA 7/15/26 7.85 3.28 0 0.01 -3.83 Washington St for Is 5.00 8/01/40 1 0 Aa1 AA+ 2/01/28 8.93 2.85 0 0.00 -1.80 Washington St for Is 5.00 8/01/40 1 1 Aa1 AA+ 8/01/26 7.91 3.19 1 0.04 -3.19 Riverside Calif Elec 7.61 10/01/40 0 1 NR AA- 10/01/40 12.91 4.26 1 0.03 -1.95 Miami-Dade Cnty Fla 5.00 10/01/40 0 1 NR A 10/01/28 9.05 3.62 1 0.03 NA Massachusetts St Com 5.00 11/01/40 1 0 Aa1 AA 5/01/28 9.00 2.71 0 0.00 -2.33 California State 7.60 11/01/40 2 3 Aa3 AA- 11/01/20 2.52 -10.31 4 0.13 -1.95 Metropolitan Transn 6.69 11/15/40 0 1 A1 A+ 11/15/36 11.52 3.97 1 0.02 -3.20 New York Convention 5.00 11/15/40 0 0 Aa3 NR 11/15/25 6.04 -15.50 0 0.01 -1.20 Metropolitan Transn 6.81 11/15/40 0 0 A1 A+ 11/15/36 11.41 3.97 1 0.02 -3.15 Sa Tx Elec & Gas 5.81 2/01/41 1 2 Aa2 AA- 2/01/40 13.25 3.86 2 0.06 -2.31 Washington St for Is 5.00 2/01/41 1 1 Aa1 AA+ 2/01/28 8.76 3.20 1 0.03 -1.69 Orange Cnty Calif Lo 6.91 2/15/41 1 1 Aa2 AA+ 8/15/34 10.55 3.78 2 0.05 -1.77 New York St Dorm Aut 5.00 2/15/41 0 1 Aa1 AAA 2/15/28 8.98 3.24 1 0.03 -2.78 New York St Dorm Aut 5.00 3/15/41 0 1 Aa1 AAA 9/15/28 9.18 3.12 1 0.03 NA San Francisco Calif 5.00 5/01/41 0 1 A1 A+ 5/01/27 8.41 3.49 1 0.03 -2.20 Tsasc Inc N Y Tobacc 5.00 6/01/41 0 1 NR BBB+ 6/01/28 9.12 4.03 1 0.03 -2.64 Tobacco Settlement F 5.00 6/01/41 1 2 B3 B 12/01/18 1.70 5.13 2 0.05 4.20
46 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) Massachusetts St Tra 5.00 6/01/41 0 0 Aa1 AAA 12/01/27 9.06 2.66 0 0.00 -2.74 New York N Y City Mu 5.75 6/15/41 0 1 Aa1 AA+ 6/15/41 13.86 3.75 1 0.02 -3.18 Massachusetts Bay Tr 5.00 7/01/41 0 1 Aa3 AA 7/01/28 8.92 3.24 1 0.02 -2.83 Chesapeake Bay Brdg 5.00 7/01/41 0 0 A2 AA 7/01/27 8.50 3.49 0 0.01 -2.60 Massachusetts Bay Tr 5.00 7/01/41 0 0 Aa3 AA 1/01/28 8.91 2.77 0 0.00 -2.83 Los Angeles Cnty Cal 5.00 7/01/41 1 0 Aa1 AAA 1/01/28 8.87 2.55 0 0.00 -2.74 San Diego Calif Uni 5.00 7/01/41 1 1 Aa2 NR 1/01/28 8.79 2.99 1 0.04 -2.44 Washington St for Is 5.00 8/01/41 1 0 Aa1 AA+ 2/01/28 8.97 2.86 0 0.00 -1.80 Honolulu Hawaii City 5.00 9/01/41 0 0 Aa1 NR 3/01/28 8.95 2.73 0 0.00 -2.44 Massachusetts St Com 5.00 11/01/41 1 0 Aa1 AA 5/01/28 9.04 2.72 0 0.00 -2.40 Lexington Cnty S C H 5.00 11/01/41 1 0 A1 A+ 11/01/27 8.54 3.68 1 0.01 -0.72 Michigan Fin Auth Re 5.00 11/15/41 0 0 A3 A 5/15/28 8.82 3.73 0 0.01 -1.22 Dallas Tex Area Rapi 5.00 12/01/41 0 1 Aa2 AA+ 12/01/26 8.16 3.33 1 0.03 -2.39 Weld Cnty Colo Sch D 5.25 12/01/41 0 1 Aa2 NR 6/01/27 8.35 3.14 1 0.03 -2.23 Northwest Tex Indpt 5.00 2/15/42 1 0 Aaa NR 8/15/26 8.02 2.75 0 0.00 -2.60 Richardson Tex Indpt 5.00 2/15/42 0 0 Aaa AAA 8/15/26 8.03 2.79 0 0.00 -1.44 New York St Dorm Aut 5.00 2/15/42 1 1 Aa1 AAA 8/15/28 9.03 3.26 1 0.04 -2.78 New York St Dorm Aut 5.00 3/15/42 0 1 Aa1 AAA 9/15/28 9.23 3.14 1 0.03 NA Metropolitan St Loui 5.00 5/01/42 1 1 Aa1 AAA 5/01/28 8.76 3.10 1 0.03 -2.52 Pennsylvania St Tpk 5.00 6/01/42 0 0 A3 NR 12/01/27 9.09 3.40 0 0.00 -2.25 District Columbia Go 5.00 6/01/42 0 1 Aa1 AA 6/01/28 8.85 3.20 1 0.03 NA New York N Y City Mu 6.01 6/15/42 0 0 Aa1 AA+ 12/15/41 13.86 3.83 0 0.01 -3.81
47 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) Los Angeles Cnty Cal 5.00 7/01/42 1 0 Aa1 AAA 1/01/28 8.90 2.56 0 0.00 -2.74 Los Angeles Cnty Cal 5.00 7/01/42 1 1 Aa2 AA+ 7/01/28 8.86 3.10 1 0.04 -2.87 Massachusetts Bay Tr 5.00 7/01/42 0 0 Aa3 AA 1/01/28 8.94 2.79 0 0.00 -2.83 Philadelphia Pa Arpt 5.00 7/01/42 1 0 A2 A 7/01/28 9.03 3.63 1 0.02 -2.49 Massachusetts Bay Tr 5.00 7/01/42 0 1 Aa3 AA 7/01/28 8.97 3.26 1 0.02 -2.83 Los Angeles Calif Cm 6.60 8/01/42 1 2 Aa1 AA+ 2/01/41 13.45 3.79 3 0.09 -1.75 Washington St for Is 5.00 8/01/42 1 0 Aa1 AA+ 2/01/28 9.00 2.87 0 0.00 -1.80 Mesquite Tex Indpt S 5.00 8/15/42 0 1 NR AAA 8/15/27 8.56 3.23 1 0.03 -2.64 Texas Water Dev Brd 5.00 10/15/42 1 0 NR AAA 4/15/28 8.97 2.68 0 0.00 -2.77 Dallas Fort Worth Te 5.00 11/01/42 1 1 A1 A+ 11/01/22 5.03 3.11 1 0.03 0.04 Massachusetts St Com 5.00 11/01/42 1 1 Aa1 AA 11/01/28 9.03 3.21 1 0.03 -2.39 Metropolitan Transn 5.00 11/15/42 0 1 NR AA 5/15/28 8.85 3.28 1 0.03 -2.63 Adams & Weld Cntys C 5.00 12/01/42 0 0 Aa2 AA- 6/01/28 9.04 2.75 0 0.00 -2.49 North Tex Twy Auth R 5.00 1/01/43 0 0 A2 A- 1/01/28 8.82 3.07 0 0.00 -2.39 North Tex Twy Auth R 5.00 1/01/43 1 0 A1 A 7/01/28 9.23 3.04 0 0.00 -2.14 New York St Dorm Aut 5.00 2/15/43 1 1 Aa1 AAA 8/15/28 9.08 3.29 1 0.02 -2.92 New York St Dorm Aut 5.00 3/15/43 0 1 Aa1 AAA 9/15/28 9.27 3.16 1 0.03 NA Massachusetts St Tra 5.00 6/01/43 0 0 Aa1 AAA 6/01/28 9.12 2.68 0 0.00 -2.73 New York N Y City Mu 5.50 6/15/43 1 3 Aa1 AA+ 6/15/21 3.31 2.37 3 0.08 -0.41 New York N Y City Mu 5.38 6/15/43 1 2 Aa1 AA+ 6/15/21 3.42 2.38 2 0.07 -0.04 Massachusetts Bay Tr 5.00 7/01/43 0 0 Aa3 AA 7/01/28 9.01 3.27 0 0.01 -2.83 Dallas Fort Worth Te 5.00 11/01/43 0 0 A1 A+ 11/01/21 4.21 3.31 0 0.00 0.04
48 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) Austin Tex Wtr & Was 5.00 11/15/43 0 1 Aa2 AA 11/15/25 7.19 3.34 1 0.03 NA American Mun Pwr Ohi 6.45 2/15/44 0 0 A2 A 2/15/39 12.64 3.89 1 0.02 0.19 University Va Univ R 5.00 4/01/44 1 0 Aaa AAA 10/01/27 8.82 2.61 0 0.00 -2.64 New York N Y City Mu 5.88 6/15/44 0 1 Aa1 AA+ 12/15/43 14.61 3.85 1 0.02 -2.77 Massachusetts Bay Tr 5.00 7/01/44 0 0 Aa3 AA 7/01/28 9.01 2.81 0 0.00 -2.82 Fairfax Cnty Va Swr 5.00 7/15/44 0 0 Aaa AAA 1/15/28 8.83 2.66 0 0.00 -2.58 Massachusetts St Com 5.00 11/01/44 1 0 Aa1 AA 5/01/28 9.14 2.77 0 0.00 -2.39 Wisconsin St Health 5.00 12/15/44 0 0 A1 NR 6/15/26 8.09 3.91 0 0.01 -1.58 East Bay Calif Mun U 5.00 6/01/45 0 0 Aa1 AAA 12/01/27 8.95 2.57 0 0.00 -2.55 Connecticut St Healt 5.00 7/01/45 0 1 A2 A 1/01/27 8.59 4.03 1 0.03 -1.94 Massachusetts Bay Tr 5.00 7/01/45 0 0 Aa3 AA 7/01/28 9.04 2.82 0 0.00 -2.82 Oxnard Calif Sch Dis 5.00 8/01/45 0 0 NR AA 8/01/28 9.01 2.97 0 0.00 -1.99 Massachusetts St Com 5.00 11/01/45 1 0 Aa1 AA 5/01/28 9.17 2.79 0 0.00 -2.38 Dallas Fort Worth Te 5.00 11/01/45 1 2 A1 A+ 11/01/21 4.32 3.34 2 0.05 0.05 Dallas Fort Worth Te 5.00 11/01/45 1 1 A1 A+ 11/01/22 5.17 3.20 1 0.04 0.05 California Pollution 5.00 11/21/45 0 0 Baa3 NR 1/01/24 6.17 3.70 1 0.01 -0.67 University Va Univ R 5.00 4/01/46 0 0 Aaa AAA 10/01/27 8.88 2.63 0 0.00 -2.64 San Francisco Calif 5.00 5/01/46 0 0 A1 A+ 5/01/27 8.58 3.07 0 0.00 -2.19 Met Govt Nashville & 5.00 7/01/46 0 1 A3 NR 1/01/28 8.85 3.68 1 0.03 -1.51 Dutchess Cnty N Y Lo 5.00 7/01/46 1 1 A3 A- 7/01/27 8.85 3.65 1 0.04 -2.41 New York Transn Dev 5.00 7/01/46 0 0 Baa3 NR 1/01/26 7.72 3.75 0 0.01 -0.26 Port Auth N Y & N J 4.96 8/01/46 1 1 Aa3 AA- 8/01/44 15.39 3.79 1 0.03 -2.69
49 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) Aurora Colo Wtr Rev 5.00 8/01/46 0 0 NR AA+ 8/01/27 8.72 3.32 0 0.01 -2.81 Mississippi Hosp Equ 5.00 9/01/46 0 1 NR BBB+ 3/01/28 9.30 4.09 1 0.02 -1.35 Metropolitan Wash D 7.46 10/01/46 0 1 Baa1 BBB+ 4/01/46 13.89 4.44 1 0.02 -2.24 Massachusetts St Com 5.00 11/01/46 1 0 Aa1 AA 5/01/28 9.20 2.82 0 0.00 -2.30 New York Convention 5.00 11/15/46 1 1 Aa3 NR 11/15/27 8.88 3.36 1 0.04 -2.18 Dallas Tex Area Rapi 5.00 12/01/46 1 1 Aa2 AA+ 12/01/26 8.35 3.39 1 0.04 -2.38 South Carolina St Pu 5.00 12/01/46 0 0 A1 A+ 12/01/25 7.77 3.17 0 0.00 -3.65 San Francisco Calif 5.00 5/01/47 1 1 A1 A+ 5/01/28 9.08 3.53 1 0.03 -2.55 Los Angeles Calif De 5.00 5/15/47 0 0 A1 AA- 11/15/27 9.05 2.92 0 0.00 -2.95 University Calif Rev 5.00 5/15/47 1 0 Aa3 AA- 11/15/27 8.94 2.71 0 0.00 -1.78 Long Beach Calif Hbr 5.00 5/15/47 1 0 NR AA 11/15/27 8.96 2.59 0 0.00 -3.47 San Antonio Tex Ed F 5.00 6/01/47 1 0 NR AA 12/01/27 9.10 2.96 0 0.00 -3.25 Pennsylvania St Tpk 5.25 6/01/47 0 0 A3 NR 12/01/27 9.01 3.36 0 0.00 -2.25 Golden St Tob Securi 5.13 6/01/47 1 2 B3 B- 12/01/18 1.46 5.12 2 0.06 1.35 Buckeye Ohio Tob Set 5.88 6/01/47 1 2 B3 B- 6/01/21 3.67 6.42 2 0.07 3.70 New York N Y City Mu 5.00 6/15/47 1 0 Aa1 AA+ 6/15/27 8.89 2.81 0 0.00 -2.58 Salt Lake City Utah 5.00 7/01/47 0 1 A2 A+ 7/01/28 9.15 3.41 1 0.02 -2.33 Phoenix Ariz Civic I 5.00 7/01/47 0 0 Aa3 AA- 7/01/28 9.21 3.13 0 0.00 -2.59 Philadelphia Pa Arpt 5.00 7/01/47 1 0 A2 A 7/01/28 9.29 3.69 1 0.02 -2.47 Massachusetts St Dev 5.00 7/01/47 0 1 Aa3 AA- 1/01/28 8.85 3.60 1 0.02 -2.71 Eastern Mun Wtr Fing 5.00 7/01/47 0 0 NR AA+ 1/01/28 8.88 2.68 0 0.00 -3.22 San Diego Calif Uni 5.00 7/01/47 0 0 Aa2 NR 1/01/28 9.02 2.68 0 0.00 -2.72
50 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) University Tex Perm 3.38 7/01/47 0 2 Aaa AAA 1/01/47 17.88 3.65 2 0.05 NA Salt Lake City Utah 5.00 7/01/47 1 1 A2 A+ 7/01/28 9.30 3.68 2 0.05 -3.00 California Health Fa 5.00 8/15/47 0 1 Baa2 BBB+ 8/15/28 9.39 3.72 1 0.03 NA United Indpt Sch Dis 5.00 8/15/47 0 0 Aaa NR 8/15/28 9.01 2.86 0 0.00 -2.18 Miami Beach Fla Wtr 5.00 9/01/47 0 0 Aa3 AA- 9/01/28 9.22 2.97 0 0.00 -2.38 Sumter Landing Cmnty 4.17 10/01/47 0 0 NR A+ 10/01/47 17.41 3.86 0 0.01 -1.81 Anne Arundel Cnty Md 5.00 10/01/47 0 1 Aa1 AAA 10/01/28 9.27 3.16 1 0.03 NA Port Auth N Y & N J 5.00 11/15/47 0 0 Aa3 AA- 11/15/28 9.25 3.59 0 0.01 -3.14 Michigan Fin Auth Re 5.00 12/01/47 2 3 Aa3 AA- 6/01/24 6.39 3.48 3 0.09 -0.81 San Antonio Tex Elec 5.00 2/01/48 0 1 Aa2 AA- 2/01/24 6.50 3.39 1 0.02 NA Miami-Dade Cnty Fla 5.00 4/01/48 0 1 A3 A- 4/01/29 9.58 3.68 1 0.03 NA Univ Calif Regts Med 6.58 5/15/49 1 1 Aa3 AA- 11/15/40 12.85 4.04 2 0.05 -1.68 South Carolina St Pu 5.00 12/01/49 0 1 A1 A+ 6/01/26 8.04 4.06 1 0.03 -3.20 New York Transn Dev 5.25 1/01/50 1 2 Baa3 NR 1/01/26 7.58 3.83 2 0.05 -0.19 Bay Area Toll Auth C 7.04 4/01/50 2 3 A1 AA- 4/01/47 14.64 4.12 4 0.12 -4.45 Los Angeles Calif De 6.60 7/01/50 0 1 Aa2 AA+ 1/01/48 15.52 3.84 1 0.02 -3.20 South Carolina St Pu 5.00 12/01/50 0 1 A1 A+ 6/01/27 8.67 4.04 1 0.03 -3.31 Chesapeake Bay Brdg 5.00 7/01/51 0 0 Baa2 BBB 1/01/28 9.02 3.68 0 0.01 -0.47 Port Auth N Y & N J 4.93 10/01/51 0 0 Aa3 AA- 10/01/49 16.55 3.98 1 0.02 -4.48 Metropolitan Wash D 5.00 10/01/53 0 0 Baa1 BBB+ 10/01/23 6.16 3.74 1 0.01 -0.27 Virginia Small Busin 5.00 12/31/56 1 1 Baa3 NR 6/30/29 9.84 4.08 1 0.03 -2.14 Municipal Elec Auth 6.64 4/01/57 0 1 A2 A+ 4/01/44 12.66 4.87 1 0.03 -1.81
51 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Municipals (cont.) Missouri St Health & 3.65 8/15/57 1 2 Aa1 AA+ 8/15/57 11.05 6.08 2 0.06 -3.97 Metropolitan Transn 5.25 11/15/57 1 1 A1 A+ 11/15/28 9.08 3.52 1 0.03 -2.41 Port Authority of Ny 4.46 10/01/62 1 2 Aa3 AA- 4/01/58 18.82 3.98 2 0.05 -4.28 Port Auth N Y & N J 4.81 10/15/65 0 1 Aa3 AA- 10/15/65 4.80 9.62 1 0.03 -2.34 University Calif Rev 4.86 5/15/12 0 1 Aa2 AA 5/15/12 21.11 4.47 1 0.02 -1.78 University Va Univ R 4.18 9/01/17 1 0 Aaa AAA 9/01/17 24.75 4.00 0 0.00 -3.02 176 5.19 Transportation American Airls Group 4.63 3/01/20 1 1 B1 BB- 3/01/20 1.81 4.21 2 0.04 0.26 Delta Air Lines Inc 2.88 3/13/20 6 11 Baa3 BB+ 3/13/20 1.88 3.22 11 0.33 -0.52 Gatx Corp Sr Glbl Nt 2.60 3/30/20 1 1 Baa2 BBB 3/30/20 1.93 3.07 1 0.04 -0.24 Hyundai Cap Amer Inc 2.55 4/03/20 6 10 Baa1 A- 4/03/20 1.91 3.36 10 0.29 -0.11 Great Lakes Dredge & 8.00 5/15/22 0 0 Caa1 B- 5/15/22 3.38 7.28 0 0.01 NA Herc Rentals Inc Sr 7.50 6/01/22 0 1 B3 B+ 6/01/19 1.55 4.85 1 0.03 NA General Mtrs Finl Co 3.15 6/30/22 4 7 Baa3 BBB 6/30/22 3.91 3.69 7 0.21 -1.26 Carlson Travel Inc S 6.75 12/15/23 0 1 B2 B 6/15/23 4.17 6.87 1 0.02 NA Rumo Luxembourg S A 7.38 2/09/24 1 0 NR BB- 8/09/21 3.73 6.00 0 0.00 1.15 Rumo Luxembourg S A 5.88 1/18/25 0 1 NR B+ 7/18/24 5.19 6.30 1 0.03 NA Gatx Corp Sr Glbl Nt 3.85 3/30/27 1 1 Baa2 BBB 3/30/27 7.36 4.09 1 0.03 -2.50 Fedex Corp Sr Nt 4.9 4.90 1/15/34 1 1 Baa2 BBB 1/15/34 11.00 4.21 2 0.04 -3.75 Union Pac Corp Sr Nt 3.38 2/01/35 0 1 A3 A 2/01/35 12.55 3.84 1 0.02 -6.15 Fedex Corp Sr Nt 3.9 3.90 2/01/35 1 3 Baa2 BBB 2/01/35 12.04 4.18 2 0.07 -3.87
52 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Transportation (cont.) Aeropuerto Internaci 5.63 5/18/36 0 1 Baa2 BBB 5/18/32 9.52 4.96 1 0.02 0.25 Union Pac Corp Sr Nt 3.60 9/15/37 1 2 A3 A 3/15/37 13.62 3.88 2 0.07 -6.21 Burlington Northn Sa 4.15 4/01/45 0 1 A3 A+ 4/01/45 15.87 4.02 1 0.02 -5.13 Burlington Northn Sa 4.70 9/01/45 0 1 A3 A+ 3/01/45 15.72 4.03 1 0.02 -4.26 Burlington Northn Sa 4.13 6/15/47 1 2 A3 A+ 12/15/46 16.76 3.95 2 0.06 -5.11 Norfolk Southern Cor 4.05 8/15/52 1 2 Baa1 BBB+ 2/15/52 17.99 4.25 1 0.04 -5.93 Union Pac Corp Sr Nt 3.88 2/01/55 1 2 A3 A 2/01/55 18.97 4.15 2 0.05 -5.80 Csx Corp Sr Glbl Nt 4.25 11/01/66 1 2 Baa1 BBB+ 11/01/66 18.97 4.74 2 0.04 -8.11 51 1.51 Utilities Rockies Express Pipe 6.00 1/15/19 0 1 Ba2 BB+ 1/15/19 0.76 3.73 1 0.04 0.47 Emera US Finance Lp 2.15 6/15/19 1 2 Baa3 BBB 6/15/19 1.17 3.17 2 0.07 -0.29 Rockies Express Pipe 5.63 4/15/20 0 0 Ba2 BB+ 4/15/20 1.88 3.83 0 0.01 NA Verizon Communicatio 2.45 5/22/20 22 39 Baa1 BBB+ 5/22/20 2.10 2.25 39 1.14 0.45 Exelon Corp Sr Nt 2. 2.85 6/15/20 2 3 Baa2 BBB- 6/15/20 2.10 3.27 3 0.09 -1.11 Dominion Energy Inc 1.50 7/01/20 2 3 Baa3 BBB 7/01/20 2.19 2.08 3 0.09 -0.93 Crown Castle Intl Co 3.40 2/15/21 0 1 Baa3 BBB- 2/15/21 2.71 3.26 1 0.02 -0.89 Exelon Corp Sr Glbl 2.45 4/15/21 0 1 Baa2 BBB- 4/15/21 2.87 3.24 1 0.02 -1.21 Emera US Finance Lp 2.70 6/15/21 2 3 Baa3 BBB 6/15/21 3.02 3.45 3 0.10 -1.36 Crown Castle Intl Co 2.25 9/01/21 2 3 Baa3 BBB- 9/01/21 3.25 3.38 3 0.08 -1.39 Digicel Group Ltd Sr 7.13 4/01/22 0 1 Caa1 NR 4/01/22 3.10 14.57 1 0.02 NA Aes Panama Sa Sr 144 6.00 6/25/22 0 0 Ba2 BB 6/25/22 3.80 5.11 0 0.01 -0.02
53 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Utilities (cont.) Itc Hldgs Corp 2.7%2 2.70 11/15/22 1 2 Baa2 A- 11/15/22 4.26 3.40 2 0.06 -2.12 American Tower Corp 3.50 1/31/23 0 0 Baa3 BBB- 1/31/23 4.38 3.63 0 0.01 -1.92 American Tower Corp 3.00 6/15/23 8 14 Baa3 BBB- 6/15/23 4.72 3.73 13 0.39 -2.42 Generacion Mediterra 9.63 7/27/23 1 0 B3 NR 7/27/20 2.57 6.43 0 0.00 -0.40 El Paso Pipeline Par 4.30 5/01/24 2 4 Baa3 BBB- 5/01/24 5.21 4.17 4 0.12 -2.26 Kinder Morgan Energy 4.25 9/01/24 3 5 Baa3 BBB- 9/01/24 5.55 4.15 5 0.16 -1.92 Crown Castle Intl Co 3.20 9/01/24 3 6 Baa3 BBB- 9/01/24 5.71 3.93 5 0.16 -2.32 Eversource Energy Sr 2.90 10/01/24 2 4 Baa1 A 10/01/24 5.77 3.59 4 0.12 -2.52 Sprint Spectrum Co L 4.74 3/20/25 0 15 Baa2 NR 3/20/23 4.42 4.69 15 0.44 NA Talen Energy Supply 6.50 6/01/25 1 2 B1 B+ 6/01/25 5.05 12.93 1 0.04 -10.70 Trans-Allegheny Ints 3.85 6/01/25 2 3 A3 BBB- 6/01/25 6.06 3.75 3 0.09 -2.08 Williams Partners L 4.00 9/15/25 2 4 Baa3 BBB 9/15/25 6.37 4.25 4 0.12 -2.87 Talen Energy Supply 10.50 1/15/26 1 1 B1 B+ 1/15/26 4.78 13.43 1 0.02 -10.49 Frontier Communicati 8.50 4/01/26 0 1 B3 B+ 10/01/24 4.82 9.37 1 0.02 NA Entergy Corp New Sr 2.95 9/01/26 2 3 Baa2 BBB 9/01/26 7.32 3.92 3 0.08 -3.57 Chesapeake Energy Co 5.50 9/15/26 0 3 Caa1 CCC+ 9/15/26 6.45 7.77 2 0.07 NA At&T Inc Sr Glbl Nt 4.25 3/01/27 2 3 Baa1 BBB+ 3/01/27 7.35 4.10 3 0.09 0.19 Mplx Lp Sr Glbl Nt 2 4.13 3/01/27 2 3 Baa3 BBB 3/01/27 7.36 4.25 3 0.09 -2.27 Virginia Elec & Pwr 3.50 3/15/27 2 4 A2 BBB+ 3/15/27 7.61 3.66 4 0.11 -3.64 Verizon Communicatio 4.13 3/16/27 3 6 Baa1 BBB+ 3/16/27 7.42 3.95 6 0.17 -1.88 Orazul Engy Egnor S 5.63 4/28/27 0 1 NR BB 4/28/27 6.39 6.32 1 0.02 -1.66 Nisource Fin Corp Sr 3.49 5/15/27 1 3 Baa2 BBB+ 5/15/27 7.58 3.93 3 0.08 -4.20
54 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Utilities (cont.) At&T Inc Sr Glbl Nt3 3.90 8/14/27 2 4 Baa1 BBB+ 8/14/27 7.76 3.81 4 0.13 0.98 Andeavor Log Lp & Te 4.25 12/01/27 0 1 Ba1 BBB- 12/01/27 7.71 4.57 1 0.02 -2.30 Pacific Gas & Elec C 3.30 12/01/27 1 3 A3 BBB+ 12/01/27 7.88 3.98 2 0.07 -0.01 At&T Inc Sr Glbl 144 4.30 2/15/30 1 0 Baa1 BBB+ 2/15/30 9.32 4.33 0 0.00 0.77 Verizon Communicatio 4.50 8/10/33 3 5 Baa1 BBB+ 8/10/33 10.94 4.39 5 0.16 -2.42 Verizon Communicatio 4.40 11/01/34 1 1 Baa1 BBB+ 11/01/34 11.45 4.51 1 0.04 -2.02 Exelon Corp Sr Glbl 4.95 6/15/35 0 1 Baa2 BBB- 6/15/34 11.53 4.09 1 0.02 -2.34 At&T Inc Sr Glbl Nt 5.25 3/01/37 2 3 Baa1 BBB+ 3/01/37 12.08 4.78 3 0.10 1.25 Oncor Elec Delivery 4.55 12/01/41 1 2 A2 A+ 12/01/41 14.66 3.93 2 0.05 -4.35 Northn Sts Pwr Co Mi 3.40 8/15/42 1 2 Aa3 A 8/15/42 16.08 3.84 2 0.06 -5.15 Virginia Elec & Pwr 4.45 2/15/44 0 1 A2 BBB+ 2/15/44 15.52 4.08 1 0.02 -5.16 Midamerican Energy C 4.40 10/15/44 1 1 Aa2 A+ 10/15/44 15.70 3.94 1 0.04 -4.56 Dominion Gas Holding 4.60 12/15/44 1 1 A2 BBB+ 12/15/44 15.37 4.30 1 0.04 -3.74 Spectra Energy Partn 4.50 3/15/45 2 3 Baa2 BBB+ 3/15/45 15.29 4.69 3 0.09 -4.81 Virginia Elec & Pwr 4.20 5/15/45 1 1 A2 BBB+ 5/15/45 15.88 4.07 1 0.04 -4.97 Duke Energy Corp New 4.80 12/15/45 2 3 Baa1 BBB+ 12/15/45 15.49 4.33 3 0.10 -5.91 Kinder Morgan Inc De 5.05 2/15/46 4 7 Baa3 BBB- 2/15/46 14.60 5.20 7 0.21 -4.52 Exelon Corp Sr Glbl 4.45 4/15/46 4 6 Baa2 BBB- 4/15/46 15.66 4.33 7 0.19 -5.12 Southern Co Sr Glbl 4.40 7/01/46 2 3 Baa2 BBB+ 1/01/46 15.81 4.39 3 0.10 -4.99 Baltimore Gas & Elec 3.50 8/15/46 1 1 A3 A- 8/15/46 17.23 3.96 1 0.03 -5.03 Duke Energy Corp New 3.75 9/01/46 2 3 Baa1 BBB+ 9/01/46 16.61 4.36 3 0.09 -7.85 Virginia Elec & Pwr 4.00 11/15/46 1 2 A2 BBB+ 11/15/46 16.63 4.07 2 0.05 -6.72
55 Chatham University Fixed Income Holdings BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Utilities (cont.) Mplx Lp Sr Glbl Nt5. 5.20 3/01/47 0 1 Baa3 BBB 3/01/47 15.09 4.91 1 0.03 -3.61 Firstenergy Corp -C 4.85 7/15/47 2 3 Baa3 BB+ 1/15/47 15.61 4.53 3 0.10 -4.67 Sunoco Logistics Par 5.40 10/01/47 2 4 Baa3 BBB- 10/01/47 13.85 5.73 4 0.11 -4.05 Andeavor Log Lp & Te 5.20 12/01/47 0 1 Ba1 BBB- 12/01/47 14.62 5.30 1 0.02 -3.96 Pacific Gas & Elec C 3.95 12/01/47 1 1 A3 BBB+ 12/01/47 16.62 4.40 1 0.03 -1.74 Centerpoint Energy H 3.95 3/01/48 0 2 A1 A 3/01/48 17.47 3.90 2 0.06 NA Kansas City Pwr & Lt 4.20 3/15/48 0 3 Baa1 BBB+ 3/15/48 17.11 4.03 3 0.10 NA At&T Inc Sr Glbl Nt 5.15 2/14/50 6 12 Baa1 BBB+ 2/14/50 15.52 5.08 12 0.34 1.03 223 6.59
Total Portfolio -1.61
56 Chatham University Custom Benchmark Specification BlackRock Total Return Bond Fund Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Bloomberg Aggregate 12/14 3/18 100.00 Bloomberg Aggregate
57 Chatham University Growth of One Dollar Vanguard HY Corp Admiral Quarter Ended 3/31/18
1.10
1.00 Value
0.90 12/17 3/18
Return $ Legend 1 Quarter Inception 12/31/17 Value Total -1.45 -1.45 0.99 Fixed Income -1.45 -1.45 0.99 Bloomberg HY Ba+B 2% Capped -1.10 -1.10 0.99
1 Chatham University Fixed Income Portfolio Characteristics Vanguard HY Corp Admiral vs. Bloomberg High Yield 6.0 9.0 Effective Duration Years to Effective Maturity
3.0 4.5
0.0 0.0 Date 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18 Date 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18 Port 4.38 4.54 Port 5.65 6.07 Index 4.26 4.05 4.11 4.03 3.89 3.78 3.86 4.06 Index 6.30 6.33 6.30 6.24 6.30 6.27 6.27 6.20
9.0 9.0 Yield to Effective Maturity Current Yield
4.5 4.5
0.0 0.0 Date 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18 Date 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18 Port 5.07 5.91 Port 5.53 5.77 Index 7.47 6.57 6.46 6.18 6.06 5.98 6.16 6.50 Index 6.89 6.57 6.52 6.42 6.35 6.31 6.33 6.42 Portfolio Index
Characteristics represent 100% of portfolio's market value. 2 Chatham University Fixed Income Structural Characteristics Vanguard HY Corp Admiral Quarter Ended 3/31/18
# Maturity Sectors Quarter $(MIL) Bond <1 1-10 10-20 >20 QLTY FIN FOR GA IND MISC MTGETRAN UTL 12/31/17 2.2 471 7.9 84.8 4.0 3.3 B 11 5 5 66 0 0 1 12 03/31/18 2.2 452 6.3 86.9 3.2 3.6 B 10 5 4 65 0 0 2 13
Bloomberg High Yield 1,294,817.0 2,021 0.0 94.6 3.6 1.9 BB 9 0 0 88 0 0 0 3
Characteristics represent 100% of portfolio's market value. 3 Chatham University Fixed Income Percent Invested by Sectors Vanguard HY Corp Admiral Quarter Ended 3/31/18
Moody's Quality Ratings Name Aaa Aa A Baa Ba B Other NR Total Government 4.24 ------4.24 Treasury 4.24 ------4.24 Agency ------
Corporate ------1.54 44.61 39.36 8.52 0.19 94.22 Industrial ------0.49 31.31 27.25 6.40 --- 65.45 Utility ------0.29 6.12 6.12 0.45 --- 12.98 Finance ------0.77 5.10 4.03 0.48 --- 10.38 Yankee ------2.08 1.96 1.18 0.19 5.41
Transportation ------1.55 ------1.55
Mortgage ------GNMA ------FHLMC ------FNMA ------Other Mortgage ------
Municipals ------
Cash ------
Other ------Total 4.24 ------1.54 44.61 40.90 8.52 0.19 100.00
4 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Finance Banco Bilbao Vizcaya 6.13 0/00/00 0 8 Ba2 NR NA NA 0.00 8 0.36 NA Springleaf Finance C 5.25 12/15/19 1 1 B2 B 12/15/19 1.60 4.02 1 0.03 0.41 Slm Corp Sr Nt 8% 20 8.00 3/25/20 4 0 Ba3 B+ 3/25/20 2.02 4.16 0 0.00 0.10 Cit Group Inc Sr Nt 5.38 5/15/20 1 0 Ba2 BB+ 5/15/20 2.22 2.91 0 0.00 -1.11 Cno Finl Group Inc S 4.50 5/30/20 0 1 Ba1 BB+ 5/30/20 2.02 4.19 1 0.02 -1.23 Springleaf Finance C 6.00 6/01/20 0 0 B2 B 6/01/20 1.99 4.41 0 0.01 1.07 Genworth Finl Inc Sr 7.70 6/15/20 1 1 B2 B 6/15/20 1.95 8.32 1 0.04 0.03 Radian Group Inc Sr 5.25 6/15/20 0 0 Ba3 BB+ 6/15/20 2.31 2.97 0 0.00 -0.90 Reynolds Group Issue 5.75 10/15/20 3 3 B1 B+ 10/15/20 2.28 5.22 3 0.15 1.15 Springleaf Finance C 8.25 12/15/20 7 7 B2 B 12/15/20 2.38 4.72 7 0.34 0.83 Genworth Finl Inc Sr 7.20 2/15/21 3 3 B2 B 2/15/21 2.51 8.59 3 0.13 0.80 Radian Group Inc Sr 7.00 3/15/21 2 0 Ba3 BB+ 3/15/21 2.86 3.01 0 0.00 -2.02 Navient Corporation 5.88 3/25/21 1 1 Ba3 B+ 3/25/21 2.71 5.05 1 0.02 0.44 Cnh Industrial Capit 4.88 4/01/21 4 0 Ba1 BBB- 4/01/21 2.97 3.24 0 0.00 -0.88 Lincoln Fin Ltd Sr S 7.38 4/15/21 2 0 B1 BB+ 10/15/18 1.08 6.48 0 0.00 0.79 Nationstar Mtg Llc / 6.50 7/01/21 6 7 B2 B+ 1/01/19 0.64 6.55 7 0.31 1.71 Navient Corporation 6.63 7/26/21 1 1 Ba3 B+ 7/26/21 2.93 5.33 1 0.07 0.01 Genworth Finl Inc Sr 7.63 9/24/21 2 3 B2 B 9/24/21 2.98 8.90 3 0.12 0.39 Springleaf Finance C 7.75 10/01/21 7 7 B2 B 10/01/21 2.97 5.15 8 0.36 0.15 Slm Corp Fr 7.25%012 7.25 1/25/22 5 5 Ba3 B+ 1/25/22 3.28 5.59 5 0.22 0.27 Cnh Industrial Capit 4.38 4/05/22 2 0 Ba1 BBB- 4/05/22 3.84 3.46 0 0.00 -1.22 Numericable Group Sa 6.00 5/15/22 5 5 B1 B+ 5/15/22 3.56 6.63 5 0.22 -1.99
6 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Finance (cont.) Springleaf Finance C 6.13 5/15/22 1 1 B2 B 5/15/22 3.53 5.67 1 0.07 -0.55 Ally Finl Inc Sr Nt 4.63 5/19/22 0 0 Ba1 BB+ 5/19/22 3.68 4.22 0 0.02 -1.30 Dae Fdg Llc Sr 144a 4.50 8/01/22 3 3 Ba3 BB 8/01/22 3.82 5.85 3 0.13 -2.30 Cit Group Inc Sr Nt 5.00 8/15/22 4 4 Ba2 BB+ 8/15/22 3.88 4.40 4 0.18 -2.25 Anglo American Capit 4.13 9/27/22 2 0 Baa3 BBB- 9/27/22 4.25 3.35 0 0.00 -1.08 Royal Bk of Scotland 6.13 12/15/22 6 5 Ba1 BB 12/15/22 4.02 4.70 6 0.26 -1.97 Slm Corp Fr 5.5%0125 5.50 1/25/23 4 4 Ba3 B+ 1/25/23 4.13 5.92 4 0.18 -0.14 Altice Financing S.A 6.63 2/15/23 6 6 B1 BB- 4/01/22 3.45 7.55 6 0.28 -3.89 Felcor Lodging Ltd P 5.63 3/01/23 8 0 Ba3 BB 3/01/19 1.59 5.52 0 0.00 NA Equinix Inc Sr Nt 5. 5.38 4/01/23 2 2 B1 BB+ 10/01/19 1.66 5.08 2 0.10 0.05 Reynolds Group Issue 5.13 7/15/23 5 5 B1 B+ 1/15/22 3.52 5.10 5 0.24 -1.22 Mgic Invt Corp Wis S 5.75 8/15/23 3 3 Ba2 BB+ 8/15/23 4.58 4.74 3 0.12 -2.93 Genworth Hldgs Inc S 4.90 8/15/23 4 5 B2 B 8/15/23 4.47 9.22 4 0.19 -2.39 Navient Corp Sr Glbl 7.25 9/25/23 3 3 Ba3 B+ 9/25/23 4.50 6.27 3 0.12 -0.19 Springleaf Finance C 8.25 10/01/23 2 2 B2 B 10/01/23 4.27 6.50 2 0.09 -1.53 Vtr Fin Bv Sr Sec 14 6.88 1/15/24 9 9 B1 B+ 1/15/20 2.07 6.17 10 0.44 0.33 Genworth Hldgs Inc S 4.80 2/15/24 1 2 B2 B 2/15/24 4.84 8.91 1 0.07 -2.72 Numericable Group Sa 6.25 5/15/24 2 2 B1 B+ 5/15/24 4.92 7.44 2 0.09 -4.44 Reynolds Group Issue 7.00 7/15/24 2 2 Caa1 B- 7/15/20 2.52 5.93 2 0.07 -0.54 Dae Fdg Llc Sr 144a 5.00 8/01/24 3 3 Ba3 BB 8/01/24 5.24 6.03 3 0.13 -2.93 Ally Finl Inc Sr Glb 5.13 9/30/24 2 2 Ba3 BB+ 9/30/24 5.49 4.74 2 0.08 -4.38 Radian Group Inc 4.5 4.50 10/01/24 7 8 Ba3 BB+ 10/01/24 5.43 4.91 7 0.34 -3.50
7 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Finance (cont.) Camelot Fin S A Sr 1 7.88 10/15/24 8 9 Caa2 B- 10/15/20 3.07 7.10 9 0.41 -0.40 Upcb Finance Iv Ltd 5.38 1/15/25 0 3 Ba3 BB 1/15/24 5.03 6.24 3 0.14 NA Virgin Media Secd Fi 5.50 1/15/25 2 2 Ba3 BB- 1/15/23 4.49 6.43 2 0.10 -3.55 Springleaf Finance C 6.88 3/15/25 0 2 B2 B 3/15/25 5.44 6.81 2 0.11 NA Starwood Ppty Tr Inc 4.75 3/15/25 0 0 Ba3 BB- 3/15/25 5.83 5.18 0 0.01 NA Ally Finl Inc Sr Glb 4.63 3/30/25 3 3 Ba1 BB+ 3/30/25 5.77 4.84 3 0.14 -4.86 Cno Finl Group Inc S 5.25 5/30/25 6 6 Ba1 BB+ 5/30/25 5.79 5.33 6 0.29 -4.46 Felcor Lodging Ltd P 6.00 6/01/25 5 5 B1 BB- 12/01/21 3.90 5.58 5 0.22 -0.96 Ally Finl Inc Sub Gl 5.75 11/20/25 6 6 Ba3 BB- 11/20/25 6.02 5.26 6 0.28 -4.17 Equinix Inc Sr Nt 5. 5.88 1/15/26 1 1 B1 BB+ 1/15/26 6.16 5.20 1 0.07 -1.56 Virgin Media Secd Fi 5.25 1/15/26 5 8 Ba3 BB- 7/15/24 5.40 6.12 8 0.35 -3.42 Pulte Group Inc Sr G 5.50 3/01/26 4 4 Ba1 BB+ 3/01/26 6.36 5.03 4 0.20 -3.99 Numericable Group Sa 7.38 5/01/26 5 4 B1 B+ 5/01/26 5.66 8.19 4 0.19 -5.41 Altice US Finance I 5.50 5/15/26 8 9 Ba3 BB 11/15/25 5.70 5.89 8 0.39 -2.72 Adient Global Hldgs 4.88 8/15/26 12 15 Ba3 BB 2/15/25 5.81 5.84 15 0.67 -6.86 Pulte Group Inc Sr G 5.00 1/15/27 0 0 Ba1 BB+ 1/15/27 6.93 5.40 0 0.02 -5.78 Iron Mtn Inc New Sr 4.88 9/15/27 3 3 Ba3 BB- 9/15/27 7.05 5.90 3 0.13 -6.04 Gmac Inc Sr Nt 8%31 8.00 11/01/31 1 1 Ba3 BB+ 11/01/31 8.53 5.66 1 0.04 -4.63 Sprint Cap Corp Sr N 8.75 3/15/32 4 4 B3 B 3/15/32 8.06 8.20 4 0.17 -6.02 Slm Corp Fr 5.625%08 5.63 8/01/33 0 2 Ba3 B+ 8/01/33 9.62 6.96 2 0.09 NA Ing U S Inc Fix/Flt 5.65 5/15/53 9 9 Baa3 BB+ 5/15/23 4.69 5.20 9 0.42 -2.91 Liberty Mut Group In 7.80 3/07/87 7 6 Baa3 BB+ 3/07/87 10.86 6.29 7 0.34 -1.27
8 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Finance (cont.) 226 10.38 Foreign Vrx Escrow Corp Sr 1 5.38 3/15/20 8 8 Caa1 B- 3/15/20 1.83 5.09 9 0.39 1.73 First Quantum Minera 7.00 2/15/21 7 7 B3 B 2/15/21 2.55 6.87 7 0.33 -1.64 Valeant Pharmaceutic 6.50 3/15/22 2 2 Ba3 BB- 9/15/20 2.38 5.64 2 0.11 -0.14 First Quantum Minera 7.25 5/15/22 5 5 B3 B 11/15/20 2.63 8.41 5 0.23 -2.90 Open Text Corp Sr 14 5.63 1/15/23 3 4 Ba2 BB+ 7/15/19 1.68 4.87 4 0.17 0.86 Quebecor Media Inc S 5.75 1/15/23 8 9 B1 B+ 1/15/23 4.09 5.15 9 0.43 -1.96 Meg Energy Corp Sr 1 6.38 1/30/23 3 3 Caa2 BB- 1/30/23 3.90 10.85 3 0.12 0.09 Oi European Group Bv 4.00 3/15/23 2 2 Ba3 BB 3/15/23 4.41 5.10 2 0.10 -3.89 Fmg Resources August 5.13 3/15/23 0 6 Ba1 BB+ 3/15/23 4.32 5.28 6 0.29 NA Cnh Industrial N.V. 4.50 8/15/23 11 4 Ba2 BBB- 8/15/23 4.71 4.13 4 0.17 -1.09 First Quantum Minera 6.50 3/01/24 0 2 NR B 3/01/24 4.62 7.66 2 0.10 NA Valeant Pharmaceutic 7.00 3/15/24 5 5 Ba3 BB- 3/15/21 3.32 5.97 5 0.24 -0.95 Aircastle Ltd Sr Glb 4.13 5/01/24 5 5 Ba1 BB+ 5/01/24 5.23 4.50 5 0.21 -2.44 1011778 B.C. Unlimit 4.25 5/15/24 6 6 Ba3 B+ 5/15/24 4.95 5.09 6 0.28 -3.06 Fmg Resources August 5.13 5/15/24 2 2 Ba1 BB+ 5/15/24 5.09 5.39 2 0.10 -1.34 Videotron Ltee Sr 14 5.38 6/15/24 1 1 Ba2 BB 6/15/24 5.15 4.76 1 0.04 -2.94 Meg Energy Corp 2lie 6.50 1/15/25 9 10 B3 BB+ 1/15/25 5.17 7.06 10 0.45 -0.14 Vrx Escrow Corp Sr 1 6.13 4/15/25 10 14 Caa1 B- 4/15/25 5.29 8.77 12 0.55 -4.03 New Gold Inc Sr Glbl 6.38 5/15/25 3 3 B3 B 11/15/23 4.53 6.51 3 0.12 -2.05 1011778 B.C. Unlimit 5.00 10/15/25 8 9 B3 B- 10/15/24 5.53 5.98 9 0.40 -4.26
9 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Foreign (cont.) Valeant Pharmaceutic 5.50 11/01/25 3 3 Ba3 BB- 11/01/23 5.21 6.28 3 0.15 -2.99 Valeant Pharmaceutic 9.00 12/15/25 2 2 Caa1 B- 6/15/25 5.03 9.28 2 0.11 -2.51 First Quantum Minera 6.88 3/01/26 0 2 NR B 9/01/25 5.72 7.86 2 0.09 NA Open Text Corp Sr 14 5.88 6/01/26 5 5 Ba2 BB+ 6/01/23 4.76 5.54 5 0.23 -3.20 118 5.41 Government & Agency United States Treas 0.75 2/28/18 12 0 Aaa AA+ NA 0.17 1.31 0 0.00 NA United States Treas 1.00 5/31/18 25 15 Aaa AA+ 5/31/18 0.17 1.68 15 0.71 0.33 United States Treas 0.75 8/31/18 24 26 Aaa AA+ 8/31/18 0.41 1.88 26 1.18 0.33 United States Treas 0.88 10/15/18 24 26 Aaa AA+ 10/15/18 0.54 1.97 26 1.18 0.28 United States Treas 1.13 1/15/19 24 26 Aaa AA+ 1/15/19 0.78 2.09 26 1.18 0.25 92 4.24 Industrial Csc Hldgs Inc Sr Nt 8.63 2/15/19 3 3 B2 B- 2/15/19 0.84 3.56 3 0.13 0.90 Tenet Healthcare Cor 5.50 3/01/19 2 1 Caa1 CCC+ 3/01/19 0.89 4.37 1 0.05 0.85 Hca Inc Sr Sec Nt 6. 6.50 2/15/20 13 8 Ba1 BBB- 2/15/20 1.75 3.78 8 0.38 0.45 Questar Mkt Res Inc 6.80 3/01/20 1 1 Ba3 BB+ 3/01/20 1.79 4.33 1 0.04 0.88 Kb Home Sr Nt 8%20 8.00 3/15/20 0 0 B1 B+ 3/15/20 2.00 3.49 0 0.00 -0.02 Bombardier Inc Sr Nt 7.75 3/15/20 8 8 Caa1 B- 3/15/20 1.81 4.19 9 0.40 0.97 Teva Pharmaceutical 2.25 3/18/20 7 8 Ba2 BB 3/18/20 1.88 5.08 7 0.33 -1.43 US United States Stl 7.38 4/01/20 3 3 B2 B 4/01/20 1.80 4.09 4 0.17 -0.39 Limited Brands Inc S 7.00 5/01/20 2 0 Ba1 BB+ 5/01/20 2.15 2.98 0 0.00 -0.97
10 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Aes Corp Sr Nt 8%20 8.00 6/01/20 1 0 Ba2 BB 6/01/20 2.22 2.84 0 0.00 0.43 Tenet Healthcare Cor 4.75 6/01/20 2 2 Ba3 BB- 6/01/20 2.01 4.38 2 0.08 0.17 Gannett Co Inc Sr Nt 5.13 7/15/20 6 7 Ba2 BB+ 7/15/19 1.08 5.01 7 0.31 0.22 Chs / Cmnty Health S 7.13 7/15/20 2 3 Caa2 CCC- 7/15/20 1.94 17.21 3 0.13 11.39 Clean Harbors Inc Sr 5.25 8/01/20 5 5 Ba3 BB+ 8/01/18 0.82 7.34 5 0.24 0.05 Hertz Corp Sr Nt 5.8 5.88 10/15/20 4 2 B3 B- 10/15/20 2.26 6.25 2 0.11 0.33 Ball Corp Sr Nt 4.37 4.38 12/15/20 3 0 Ba1 BB+ 12/15/20 2.71 3.13 0 0.00 -0.77 Hertz Corp Sr Nt 7.3 7.38 1/15/21 6 0 B3 B- 1/15/21 2.60 7.00 0 0.00 -0.05 Revlon Consumer Prod 5.75 2/15/21 1 2 Caa3 CCC 2/15/21 2.45 15.78 2 0.07 4.53 Hca Healthcare Inc S 6.25 2/15/21 3 3 B1 B+ 2/15/21 2.61 4.38 3 0.14 0.51 Kinetic Concepts Inc 7.88 2/15/21 5 5 B1 B 8/15/19 1.32 6.97 6 0.25 0.31 Reynolds Group Issue 6.88 2/15/21 2 1 B1 B+ 2/15/21 2.56 6.34 1 0.06 1.68 Ncr Corp New Sr Nt 4 4.63 2/15/21 7 7 B1 BB 2/15/20 1.83 5.34 7 0.34 -0.23 Qep Res Inc Sr Nt 6. 6.88 3/01/21 3 3 Ba3 BB+ 3/01/21 2.63 4.65 3 0.15 -0.28 Aircastle Ltd Sr Nt 5.13 3/15/21 0 0 Ba1 BB+ 3/15/21 2.92 3.42 0 0.00 -1.29 Cco Hldgs Llc / Cco 5.25 3/15/21 1 1 B1 BB 3/15/21 2.58 4.97 1 0.04 0.35 Limited Brands Inc S 6.63 4/01/21 4 4 Ba1 BB+ 4/01/21 2.64 4.38 5 0.21 -1.47 Tenet Healthcare Cor 4.50 4/01/21 4 4 Ba3 BB- 4/01/21 2.71 4.82 4 0.20 -0.26 Anglo American Capit 4.13 4/15/21 3 0 Baa3 BBB- 4/15/21 3.04 3.22 0 0.00 -0.33 Clean Harbors Inc Sr 5.13 6/01/21 6 6 Ba3 BB+ 12/01/18 0.58 5.10 6 0.28 1.50 Dish Dbs Corp Sr Nt 6.75 6/01/21 16 16 Ba3 B 6/01/21 2.76 6.52 16 0.73 -2.58 United States Stl Co 8.38 7/01/21 7 7 Ba2 BB- 7/01/18 0.25 3.54 8 0.36 1.00
11 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Chs / Cmnty Health S 5.13 8/01/21 1 2 B2 B- 8/01/21 2.96 7.53 1 0.07 4.74 Williams Cos Inc Del 7.88 9/01/21 2 2 Ba2 BB+ 9/01/21 3.01 3.97 2 0.09 -1.02 Gannett Co Inc Sr 14 4.88 9/15/21 1 1 Ba2 BB+ 11/15/20 2.34 4.71 1 0.06 -0.04 Ak Stl Corp Sr Nt 7. 7.63 10/01/21 1 1 B3 B- 10/01/19 1.17 7.00 1 0.05 0.61 Steel Dynamics Inc S 5.13 10/01/21 4 4 Ba1 BB+ 10/01/21 3.10 4.62 4 0.20 0.38 Tenet Healthcare Cor 4.38 10/01/21 10 11 Ba3 BB- 10/01/21 3.17 4.92 11 0.50 -0.42 Sterigenics Nordion 8.13 11/01/21 2 3 Caa2 CCC+ 11/01/21 2.87 9.07 3 0.12 1.49 Csc Hldgs Inc Sr Nt 6.75 11/15/21 6 6 B2 B- 11/15/21 3.12 5.48 7 0.30 -1.36 Sm Energy Co Sr Nt 6 6.50 11/15/21 0 0 B2 B+ 11/15/21 3.11 6.30 0 0.02 0.97 Lifepoint Hospitals 5.50 12/01/21 4 4 Ba2 BB- 12/01/21 3.23 5.19 4 0.20 0.35 Cequel Communication 5.13 12/15/21 6 6 Caa1 B 12/15/21 3.29 5.16 6 0.28 0.89 Ncr Corp New Sr Nt 5 5.88 12/15/21 0 1 B1 BB 12/15/19 1.68 5.60 1 0.02 0.69 Kb Home Sr Nt 7%21 7.00 12/15/21 1 1 B1 BB- 12/15/21 3.06 4.76 1 0.04 -1.93 Sesi L L C Sr Nt 7.1 7.13 12/15/21 3 4 B3 BB- 12/15/21 3.16 6.54 4 0.17 1.11 Lennar Corp Sr Nt 4. 4.13 1/15/22 3 4 Ba1 BB+ 1/15/22 3.44 4.60 4 0.17 -2.58 Laredo Petroleum Inc 5.63 1/15/22 7 7 B2 B+ 1/15/21 2.64 6.53 7 0.33 -0.36 Wpx Energy Inc Sr Nt 6.00 1/15/22 9 9 B1 BB- 1/15/22 3.33 5.19 10 0.44 -0.26 Service Corp Intl Sr 5.38 1/15/22 3 3 Ba3 BB 1/15/20 1.89 4.83 3 0.13 0.93 Newfield Expl Co Sr 5.75 1/30/22 1 1 Ba3 BB+ 1/30/22 3.40 4.46 1 0.05 -0.78 Chs / Cmnty Health S 6.88 2/01/22 10 15 Caa2 CCC- 2/01/22 2.87 24.37 9 0.39 3.61 Netflix Inc Sr Nt 5. 5.50 2/15/22 3 3 B1 B+ 2/15/22 3.39 4.44 3 0.15 -0.01 Aircastle Ltd Sr Nt 5.50 2/15/22 3 3 Ba1 BB+ 2/15/22 3.45 4.30 3 0.13 -1.41
12 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Hca Inc Sr Sec Nt 22 5.88 3/15/22 6 6 Ba1 BBB- 3/15/22 3.51 4.38 7 0.30 -0.16 Wmg Acquisition Corp 6.75 4/15/22 8 0 B3 B 4/15/18 0.29 3.00 0 0.00 0.52 Zf North Amer Cap Sr 4.50 4/29/22 1 0 Baa3 BB+ 4/29/22 3.90 3.25 0 0.00 -2.51 Signode Indl Group U 6.38 5/01/22 9 0 Caa1 B- 5/01/22 3.74 5.20 0 0.00 -0.05 Infor US Inc Sr Glbl 6.50 5/15/22 10 10 Caa1 CCC+ 5/15/20 2.04 7.03 10 0.47 -0.14 Fmg Resources August 4.75 5/15/22 2 2 Ba1 BB+ 5/15/22 3.63 5.09 2 0.10 -1.31 Hertz Corp Sr 144a N 7.63 6/01/22 4 0 B1 BB- 12/01/20 2.66 6.35 0 0.00 -1.30 Group 1 Automotive I 5.00 6/01/22 4 5 Ba2 BB+ 6/01/22 3.67 4.79 5 0.21 -0.96 Navient Corporation 6.50 6/15/22 16 16 Ba3 B+ 6/15/22 3.59 5.59 16 0.76 0.03 Dish Dbs Corp Sr Glb 5.88 7/15/22 11 12 Ba3 B 7/15/22 3.67 7.07 11 0.53 -3.41 Ncr Corp New Sr Nt 5 5.00 7/15/22 2 2 B1 BB 7/15/22 3.78 5.00 2 0.09 -0.51 Videotron Ltee Sr Gl 5.00 7/15/22 11 11 Ba2 BB 7/15/22 3.79 4.61 11 0.52 -2.39 Tribune Media Co Sr 5.88 7/15/22 6 7 B3 BB- 7/15/21 2.70 5.61 7 0.31 0.08 Amsurg Corp Sr Nt 5. 5.63 7/15/22 8 8 B3 B 7/15/22 3.73 5.50 8 0.39 0.83 Transdigm Inc Sr Sb 6.00 7/15/22 4 5 B3 B- 7/15/22 3.70 5.47 5 0.21 1.45 Lyon William Homes I 7.00 8/15/22 1 2 B2 B+ 8/15/18 0.93 5.18 2 0.07 1.19 Kb Home Sr Nt 7.5%22 7.50 9/15/22 1 1 B1 BB- 9/15/22 3.79 5.03 1 0.04 -1.89 Continental Resource 5.00 9/15/22 11 11 Ba2 BBB- 9/15/22 3.95 4.65 12 0.53 1.09 Cco Hldgs Llc / Cco 5.25 9/30/22 1 1 B1 BB 9/30/22 3.97 4.87 1 0.06 0.29 Qep Res Inc Sr Nt 5. 5.38 10/01/22 2 4 Ba3 BB+ 10/01/22 3.85 5.41 4 0.20 -1.02 Sinclair Television 6.13 10/01/22 1 1 B1 B+ 10/01/22 3.79 5.49 1 0.03 0.98 Tesoro Logistics Lp 6.25 10/15/22 1 0 Ba1 BBB- 4/15/18 0.10 -25.88 0 0.00 0.31
13 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) New Gold Inc Cda Sr 6.25 11/15/22 4 4 B3 B 11/15/22 3.89 5.72 4 0.19 0.41 Sm Energy Co Sr Glbl 6.13 11/15/22 3 3 B2 B+ 11/15/22 3.89 6.12 3 0.14 -0.35 Antero Res Corp Sr G 5.13 12/01/22 5 5 Ba3 BB+ 12/01/22 4.04 4.94 5 0.23 0.02 Polaris Intermediate 8.50 12/01/22 6 9 Caa2 B- 12/01/22 3.67 8.77 9 0.40 0.34 Sm Energy Co Sr Nt 6 6.50 1/01/23 0 0 B2 B+ 1/01/23 3.96 6.68 0 0.01 -1.12 Teck Resources Ltd G 3.75 2/01/23 1 1 Ba3 BB+ 2/01/23 4.33 4.65 1 0.04 -3.19 Cco Hldgs Llc / Cco 5.13 2/15/23 1 1 B1 BB 2/15/21 2.56 5.16 1 0.06 -0.33 Standard Inds Inc Sr 5.50 2/15/23 1 1 Ba2 BBB- 2/15/23 4.22 4.69 1 0.05 0.58 Laredo Petroleum Inc 6.25 3/15/23 7 7 B2 B+ 3/15/21 3.29 7.40 7 0.33 -1.68 Aes Corp Sr Glbl Nt4 4.50 3/15/23 0 5 Ba2 BB+ 3/15/21 3.43 4.56 5 0.22 NA Dish Dbs Corp Sr Nt 5.00 3/15/23 4 5 Ba3 B 3/15/23 4.25 7.48 4 0.19 -3.59 Chs / Cmnty Health S 6.25 3/31/23 10 12 B2 B- 3/31/23 4.03 8.20 11 0.52 4.08 Pitney Bowes Inc Cr 4.70 4/01/23 6 7 Ba1 BBB- 4/01/23 4.25 6.17 6 0.29 3.45 Shea Homes Lp/ Shea 5.88 4/01/23 1 2 B1 BB- 10/01/21 3.00 6.40 2 0.07 -1.01 Aircastle Ltd Sr Glb 5.00 4/01/23 4 4 Ba1 BB+ 4/01/23 4.30 4.30 4 0.20 -0.96 Continental Resource 4.50 4/15/23 7 8 Ba2 BBB- 4/15/23 4.38 4.25 8 0.36 0.23 Lynx Ii Corp Sr Glbl 6.38 4/15/23 1 1 B2 B 10/15/20 2.45 6.14 1 0.02 -0.05 Vine Oil & Gas Lp / 8.75 4/15/23 6 6 Caa2 CCC+ 4/15/23 3.78 10.51 6 0.28 -1.64 Matador Res Co Sr Gl 6.88 4/15/23 10 11 B2 B 4/15/20 1.99 5.59 11 0.50 0.43 Hca Inc Sr Sec Nt4.7 4.75 5/01/23 7 7 Ba1 BBB- 5/01/23 4.39 4.50 8 0.35 -0.68 Cco Hldgs Llc / Cco 5.13 5/01/23 10 10 B1 BB 5/01/23 3.74 5.10 10 0.46 -0.60 Qep Res Inc Sr Nt 5. 5.25 5/01/23 4 4 Ba3 BB+ 5/01/23 4.29 6.12 4 0.20 -3.59
14 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Hca Inc Sr Nt 5.875% 5.88 5/01/23 1 0 B1 B+ 5/01/23 4.54 4.44 0 0.00 -1.68 Lamar Media Corp Sr 5.00 5/01/23 3 0 Ba3 BB- 5/01/23 4.63 4.36 0 0.00 -0.89 Aes Corp Sr Nt 4.875 4.88 5/15/23 2 3 Ba2 BB+ 11/15/19 1.99 4.73 3 0.12 1.06 Sirius Xm Radio Inc 4.63 5/15/23 1 1 Ba3 BB 11/15/22 3.70 5.10 1 0.05 -2.52 Westlake Chem Corp 4 4.88 5/15/23 1 0 Baa3 BBB 5/15/18 1.30 3.67 0 0.00 0.68 Chemours Co Sr Nt 6. 6.63 5/15/23 9 9 Ba3 BB- 11/15/18 1.25 5.49 9 0.42 0.84 Univision Communicat 5.13 5/15/23 2 2 B2 BB- 5/15/23 4.33 6.22 2 0.08 -3.23 Sterigenics-Nordion 6.50 5/15/23 6 6 Caa1 CCC+ 11/15/21 3.28 7.19 6 0.30 -1.82 Quintiles Transnatio 4.88 5/15/23 2 3 Ba3 BB+ 11/15/20 2.64 4.56 3 0.12 0.08 Kb Home Sr Nt 7.625% 7.63 5/15/23 5 4 B1 BB- 11/15/22 3.85 5.16 5 0.22 -2.28 Ak Stl Corp Sr Sec N 7.50 7/15/23 8 8 B1 BB- 1/15/20 2.29 6.33 9 0.40 -0.83 Endo Ltd / Endo Fin 6.00 7/15/23 8 11 B3 CCC+ 7/15/23 4.16 12.45 8 0.38 -1.93 United Rentals North 4.63 7/15/23 2 2 Ba1 BB+ 1/15/21 2.84 4.34 2 0.11 -0.48 Ss&C Technologies Hl 5.88 7/15/23 3 3 B2 B+ 7/15/18 0.40 2.62 3 0.15 1.23 Wmg Acquisition Corp 5.00 8/01/23 3 3 Ba3 B+ 2/01/22 3.79 5.18 3 0.12 -2.07 First Data Corp 1lie 5.38 8/15/23 7 8 Ba3 BB 8/15/20 2.36 5.12 8 0.35 -0.97 Owens-Brockway Glass 5.88 8/15/23 3 3 B1 BB- 8/15/23 4.55 5.12 3 0.14 -2.60 Cdw Llc / Cdw Fin Co 5.00 9/01/23 2 3 Ba3 BB- 3/01/21 2.75 4.89 3 0.15 -0.73 Cco Hldgs Llc / Cco 5.75 9/01/23 3 3 B1 BB 9/01/20 2.11 5.44 4 0.16 -0.08 Ard Fin S A Sr Sec P 7.13 9/15/23 2 2 Caa2 B- 9/15/21 3.17 6.53 2 0.11 0.85 Ard Fin S A Sr Sec G 7.13 9/15/23 1 1 Caa2 B- 3/15/21 3.21 6.54 1 0.07 0.85 Gannett Co Inc Sr Nt 6.38 10/15/23 3 3 Ba2 BB+ 10/15/23 4.51 5.55 3 0.16 0.66
15 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) First Data Corp Sr 1 7.00 12/01/23 19 19 B3 B 12/01/23 4.56 5.95 20 0.90 0.90 Mednax Inc Sr 144a N 5.25 12/01/23 2 2 Ba2 BBB- 12/01/21 3.73 5.96 2 0.09 0.05 Lifepoint Health Inc 5.88 12/01/23 5 6 Ba2 BB- 6/01/22 3.65 6.38 6 0.26 1.41 Lennar Corp Sr Glbl 4.88 12/15/23 2 2 Ba1 BB+ 12/15/23 4.87 4.80 2 0.09 -3.25 Group 1 Automotive I 5.25 12/15/23 3 4 Ba2 BB+ 6/15/22 3.89 5.89 4 0.16 -1.89 Ncr Corp New Sr Nt 6 6.38 12/15/23 2 2 B1 BB 6/15/19 1.99 5.77 2 0.07 0.55 First Data Corp New 5.00 1/15/24 5 5 Ba3 BB 7/15/22 3.83 5.15 5 0.23 -1.59 Aramark Svcs Inc Sr 5.13 1/15/24 3 3 Ba3 BB 1/15/22 3.67 4.89 3 0.16 -1.60 Sm Energy Co Sr Glbl 5.00 1/15/24 6 7 B2 B+ 1/15/24 4.85 6.52 7 0.30 -2.54 First Data Corp New 5.75 1/15/24 13 14 B3 B 1/15/24 4.82 5.62 14 0.63 -1.40 Lamar Media Corp Sr 5.38 1/15/24 0 0 Ba1 BB- 1/15/19 1.63 3.60 0 0.00 -0.16 Cco Hldgs Llc / Cco 5.75 1/15/24 0 1 B1 BB 1/15/24 4.82 5.44 1 0.02 0.17 Treehouse Foods Inc 6.00 2/15/24 0 5 Ba2 BB- 8/15/19 1.85 5.48 5 0.25 NA Vizient Inc Sr 144a 10.38 3/01/24 1 0 Caa1 B- 3/01/24 4.48 7.83 0 0.00 0.95 Aes Corp Sr Nt 5.5%2 5.50 3/15/24 14 0 Ba2 BB 9/15/19 2.41 4.57 0 0.00 1.55 Meg Energy Corp Sr 1 7.00 3/31/24 4 5 Caa2 BB- 3/31/24 4.44 11.07 4 0.19 -0.17 Tesoro Corp Sr Nt 5. 5.13 4/01/24 3 0 Baa3 BBB- 4/01/19 1.49 2.61 0 0.00 -0.49 Lennar Corp Sr Glbl 4.50 4/30/24 7 7 Ba1 BB+ 4/30/24 5.15 4.88 7 0.34 -3.33 Lifepoint Health Inc 5.38 5/01/24 4 4 Ba2 BB- 5/01/24 4.82 5.82 4 0.18 1.10 Tesoro Logistics Lp 6.38 5/01/24 5 5 Ba1 BBB- 5/01/20 2.27 5.33 5 0.22 -0.62 Constellium Nv Sr 14 5.75 5/15/24 3 4 B3 B- 11/15/23 4.37 6.34 4 0.16 -2.53 Hanesbrands Inc Sr 1 4.63 5/15/24 2 3 Ba2 BB- 5/15/24 5.17 5.03 2 0.11 -2.92
16 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Ardagh Packaging Sr 7.25 5/15/24 7 7 B3 B 5/15/20 2.64 5.96 8 0.35 -0.65 Amerigas Partners L 5.63 5/20/24 5 5 Ba3 BB- 5/20/24 5.02 5.75 5 0.22 -3.11 Kfc Hldg Co/Pizza Hu 5.00 6/01/24 3 3 B1 BB 6/01/23 4.36 5.48 3 0.13 -2.44 Teck Resources Ltd S 8.50 6/01/24 5 5 Ba1 BB+ 6/01/19 1.21 4.04 5 0.25 0.20 Mph Acquisition Hldg 7.13 6/01/24 5 6 Caa1 B- 12/01/22 3.83 6.63 6 0.26 -1.40 Continental Resource 3.80 6/01/24 2 2 Ba2 BBB- 6/01/24 5.35 4.50 2 0.08 -1.70 Sprint Corp Sr Glbl 7.13 6/15/24 7 7 B3 B 6/15/24 4.81 7.63 7 0.33 -2.45 Kerr McGee Corp Sr G 6.95 7/01/24 4 0 Ba1 BBB 7/01/24 5.19 3.82 0 0.00 -0.56 Newfield Expl Co Sr 5.63 7/01/24 1 1 Ba3 BB+ 7/01/24 5.19 4.60 1 0.07 -0.57 Transdigm Inc Sr Sb 6.50 7/15/24 10 10 B3 B- 7/15/24 5.05 6.01 10 0.47 1.57 Sirius Xm Radio Inc 6.00 7/15/24 4 4 Ba3 BB 1/15/21 3.14 5.55 4 0.17 -1.38 Tenet Healthcare Cor 4.63 7/15/24 1 1 Ba3 BB- 1/15/24 4.94 5.47 1 0.04 -0.24 Sinclair Television 5.63 8/01/24 1 1 B1 B+ 2/01/23 4.27 6.13 1 0.03 -2.41 Revlon Consumer Prod 6.25 8/01/24 4 7 Caa3 CCC 8/01/24 4.54 16.14 4 0.20 3.56 Graphic Packaging In 4.13 8/15/24 3 3 Ba2 BB+ 8/15/24 5.51 4.44 3 0.12 -4.09 Novelis Corp Sr 144a 6.25 8/15/24 5 6 B2 B 8/15/22 3.90 5.90 6 0.26 -0.67 Hilton Domestic Oper 4.25 9/01/24 6 6 Ba3 BB+ 9/01/24 4.97 4.82 6 0.28 -2.92 Gannett Co Inc Sr 14 5.50 9/15/24 1 1 Ba2 BB+ 5/15/22 3.73 5.24 1 0.05 -1.44 Sesi L L C Sr Glbl 1 7.75 9/15/24 4 4 B3 BB- 3/15/22 3.92 7.17 4 0.18 -0.78 Wpx Energy Inc Sr Gl 5.25 9/15/24 11 12 B1 BB- 9/15/24 5.39 5.53 11 0.52 0.14 Versum Matls Inc Sr 5.50 9/30/24 2 2 Ba3 BB 3/15/23 4.74 5.00 2 0.11 -2.23 Inventiv Group Holdi 7.50 10/01/24 2 2 B2 B 4/01/20 2.15 5.70 2 0.08 0.10
17 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Steel Dynamics Inc S 5.50 10/01/24 4 4 Ba1 BB+ 10/01/20 3.13 4.87 4 0.20 -1.67 Gray Television Inc 5.13 10/15/24 6 6 B2 B+ 10/15/24 5.13 5.73 6 0.27 -1.74 Hertz Corp Sr 144a N 5.50 10/15/24 10 2 B3 B- 10/15/24 5.10 8.65 2 0.09 -4.86 Wmg Acquisition Corp 4.88 11/01/24 4 4 Ba3 B+ 11/01/23 4.83 5.13 4 0.18 -2.47 Lamb Weston Hldgs In 4.63 11/01/24 3 4 Ba3 BB 5/01/24 5.15 4.82 4 0.16 -2.65 Diamondback Energy I 4.75 11/01/24 1 1 B1 BB 11/01/23 4.73 5.36 1 0.03 -0.32 United Rentals North 5.75 11/15/24 0 2 Ba3 BB- 11/15/19 2.30 4.81 2 0.10 NA Dish Dbs Corp Sr Glb 5.88 11/15/24 8 9 Ba3 B 11/15/24 5.16 8.02 8 0.37 -6.98 Standard Pac Corp Ne 5.88 11/15/24 1 0 Ba2 BB 11/15/24 5.67 4.00 0 0.00 -1.87 Building Matls Corp 5.38 11/15/24 4 5 Ba2 BBB- 11/15/21 3.91 5.22 5 0.22 -1.87 Lennar Corp Sr 144a 5.88 11/15/24 0 1 Ba1 BB+ 5/15/24 5.22 5.21 1 0.02 NA MSCI Inc Sr 144a Nt 5.25 11/15/24 1 1 Ba2 BB+ 11/15/24 5.45 4.87 1 0.06 -1.88 Mplx Lp Glbl Nt 4.87 4.88 12/01/24 5 0 Baa3 BBB- 12/01/24 5.87 3.59 0 0.00 -1.60 Penske Automotive Gr 5.38 12/01/24 4 4 B1 B+ 6/01/22 4.16 5.43 4 0.18 0.32 Cdw Llc / Cdw Fin Co 5.50 12/01/24 2 2 Ba3 BB- 12/01/24 5.47 4.74 2 0.07 -2.86 Dana Hldg Corp Sr Nt 5.50 12/15/24 4 4 B1 BB 12/15/21 3.91 5.28 4 0.17 -2.62 Flex Acquisition Co 6.88 1/15/25 13 13 Caa1 CCC+ 7/15/24 4.76 7.14 13 0.60 -2.76 Parsley Energy Llc S 5.38 1/15/25 5 5 B2 BB- 7/15/23 4.91 5.60 5 0.22 0.08 Tesoro Logistics Lp 5.25 1/15/25 5 5 Ba1 BBB- 1/15/23 4.48 5.10 5 0.25 -2.10 Rsp Permian Inc Sr G 5.25 1/15/25 0 3 B1 B+ 7/15/22 4.03 4.81 3 0.16 NA Southwestern Energy 4.95 1/23/25 0 3 B1 BB- 1/23/25 5.64 5.47 3 0.14 NA Lyon William Homes I 5.88 1/31/25 5 5 B2 B+ 7/31/24 5.00 6.32 5 0.22 -2.69
18 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Hca Inc Sr Glbl Nt 2 5.38 2/01/25 2 3 B1 B+ 2/01/25 5.61 5.33 3 0.14 -1.86 Endo Ltd / Endo Fin 6.00 2/01/25 6 8 B3 CCC+ 2/01/25 5.07 12.21 6 0.27 -5.51 Ardagh Packaging Sr 6.00 2/15/25 9 10 B3 B 8/15/23 4.86 6.09 10 0.44 -3.10 Univision Communicat 5.13 2/15/25 19 21 B2 BB- 8/15/24 5.43 6.47 19 0.89 -2.94 Altice Sa Sr 144a Nt 7.63 2/15/25 4 4 B3 B 2/15/25 4.85 10.66 4 0.16 -8.74 Netflix Inc Sr Nt 5. 5.88 2/15/25 10 7 B1 B+ 2/15/25 5.49 5.05 8 0.36 -0.04 Change Healthcare Hl 5.75 3/01/25 6 7 B3 B- 9/01/22 4.52 6.38 7 0.33 0.58 Post Hldgs Inc Sr Gl 5.50 3/01/25 3 3 B3 B 9/01/23 4.99 6.30 3 0.13 -3.52 U S G Corp Sr 144a N 5.50 3/01/25 1 1 Ba1 BB+ 9/01/20 3.23 4.70 1 0.04 -0.60 Constellium Nv Sr Gl 6.63 3/01/25 8 8 B3 B- 9/01/22 4.07 6.89 8 0.38 -2.36 Wynn Las Vegas Llc / 5.50 3/01/25 5 0 B1 BB- 3/01/25 5.77 5.00 0 0.00 -1.11 Hilton Worldwide Fin 4.63 4/01/25 10 11 Ba3 BB+ 10/01/23 4.63 4.76 11 0.50 -1.69 Shea Homes Lp/ Shea 6.13 4/01/25 1 2 B1 BB- 4/01/21 2.97 5.70 2 0.07 -1.31 Aramark Svcs Inc Sr 5.00 4/01/25 5 5 Ba3 BB 10/01/23 4.70 5.23 5 0.23 -3.42 Aes Corp Sr Glbl Nt5 5.50 4/15/25 1 1 Ba2 BB+ 4/15/25 5.67 4.93 1 0.03 -0.25 Hca Inc Sr Sec Nt5.2 5.25 4/15/25 5 5 Ba1 BBB- 4/15/25 5.71 4.87 5 0.22 -2.11 Symantec Corp Sr Glb 5.00 4/15/25 7 7 Baa3 BB+ 4/15/22 4.25 5.26 7 0.32 -1.84 Sirius Xm Radio Inc 5.38 4/15/25 1 0 Ba3 BB 10/15/21 3.82 4.60 0 0.00 -3.41 Zf North Amer Cap Sr 4.75 4/29/25 3 0 Baa3 BB+ 4/29/25 6.14 3.82 0 0.00 -3.26 Cco Hldgs Llc / Cco 5.38 5/01/25 7 7 B1 BB 11/01/24 5.01 5.70 7 0.32 -3.11 Alliance Res Op Part 7.50 5/01/25 6 8 B1 BB- 5/01/25 5.32 6.60 9 0.39 0.57 Cemex Sab De Cv Sr 1 6.13 5/05/25 11 11 B1 BB 11/05/21 3.55 5.42 12 0.55 -1.09
19 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Anglo American Capit 4.88 5/14/25 4 0 Baa3 BBB- 5/14/25 6.16 3.93 0 0.00 -2.15 Gw Honos Sec Corp Sr 8.75 5/15/25 5 5 Caa2 CCC+ 11/15/22 4.12 7.93 5 0.24 -0.55 Chemours Co Sr Nt 7% 7.00 5/15/25 7 8 Ba3 BB- 5/15/20 2.44 4.68 9 0.40 1.13 Amerigas Partners L 5.50 5/20/25 2 2 Ba3 BB- 5/20/25 5.68 6.11 2 0.09 -3.11 Diamondback Energy I 5.38 5/31/25 5 5 B1 BB 11/30/23 4.83 5.23 5 0.23 0.00 Arcelormittal Sa Lux 6.13 6/01/25 2 2 Ba1 BBB- 6/01/25 5.72 4.67 2 0.11 -4.22 Kar Auction Svcs Inc 5.13 6/01/25 4 5 B3 B 12/01/23 5.06 5.62 5 0.21 -1.69 Sm Energy Co Sr Glbl 5.63 6/01/25 4 6 B2 B+ 6/01/25 5.65 6.55 5 0.24 -0.89 Marathon Oil Corp Sr 3.85 6/01/25 4 0 Ba1 BBB- 6/01/25 6.40 3.57 0 0.00 -2.00 Mplx Lp Sr Glbl Nt 2 4.88 6/01/25 9 0 Baa3 BBB- 6/01/25 6.22 3.76 0 0.00 -1.45 Columbia/Hca Healthc 7.69 6/15/25 0 0 B1 B+ 6/15/25 5.47 5.92 1 0.02 -0.97 Navient Corporation 6.75 6/25/25 15 17 Ba3 B+ 6/25/25 5.57 6.51 17 0.79 0.29 Brand Energy & Infra 8.50 7/15/25 11 11 Caa2 CCC+ 1/15/23 4.38 7.84 11 0.52 1.17 United Rentals North 5.50 7/15/25 3 3 Ba3 BB- 7/15/25 5.90 5.10 3 0.16 -2.14 Owens-Brockway Glass 6.38 8/15/25 1 1 B1 BB- 8/15/25 5.83 5.50 1 0.06 -4.41 Parsley Energy Llc S 5.25 8/15/25 1 1 B2 BB- 2/15/24 5.27 5.89 1 0.03 0.17 MSCI Inc Sr 144a Nt 5.75 8/15/25 5 5 Ba2 BB+ 8/15/21 3.69 5.06 6 0.26 -1.38 Cd&R Wtrwks Merger S 6.13 8/15/25 1 1 Caa1 B- 2/15/25 5.25 6.57 1 0.03 -2.20 Ashtead Capital Inc 4.13 8/15/25 5 5 Ba2 BBB- 2/15/25 5.76 4.96 5 0.21 -3.94 West Street Merger S 6.38 9/01/25 12 14 Caa1 CCC+ 9/01/25 5.53 7.21 13 0.60 -3.42 Cdw Llc / Cdw Fin Co 5.00 9/01/25 3 3 Ba3 BB- 9/01/23 5.02 5.52 3 0.12 -2.67 Steel Dynamics Inc S 4.13 9/15/25 0 0 Ba1 BB+ 9/15/25 5.86 4.91 0 0.01 NA
20 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Steel Dynamics Inc S 4.13 9/15/25 0 0 Ba1 BB+ 3/15/23 5.02 4.30 0 0.00 NA Ak Stl Corp Sr Glbl 6.38 10/15/25 1 1 B3 B- 10/15/25 5.34 7.43 1 0.04 -3.21 Building Matls Corp 6.00 10/15/25 14 14 Ba2 BBB- 10/15/22 4.34 5.76 15 0.68 -2.59 Crc Escrow Issuer Ll 5.25 10/15/25 12 16 B3 B- 10/15/25 6.29 5.94 16 0.73 -3.56 United Rentals North 4.63 10/15/25 4 5 Ba3 BB- 10/15/23 5.32 5.39 5 0.22 -2.34 Beacon Roofing Suppl 4.88 11/01/25 7 7 B3 B+ 11/01/24 5.58 5.84 7 0.32 -3.91 Toll Bros Fin Corp S 4.88 11/15/25 1 1 Ba1 BB+ 11/15/25 6.18 5.07 1 0.04 -4.35 Vantiv Llc / Vantiv 4.38 11/15/25 1 2 B1 BB 11/15/24 5.68 5.05 1 0.07 -3.52 Jeld-Wen Inc Sr 144a 4.63 12/15/25 1 1 B1 BB- 12/15/24 5.71 5.59 1 0.05 -4.32 Catalent Pharma Solu 4.88 1/15/26 1 2 B3 B+ 1/15/24 5.37 5.60 2 0.07 -1.66 Noble Hold Int Ltd S 7.88 2/01/26 0 2 B2 B+ 2/01/25 5.30 8.42 2 0.07 NA Lamar Media Corp Sr 5.75 2/01/26 1 1 Ba2 BB 8/01/22 4.33 5.23 1 0.03 -1.60 Crown Amers Llc / Cr 4.75 2/01/26 0 2 Ba3 B+ 8/01/25 5.96 5.37 2 0.11 NA Sensata Technologies 6.25 2/15/26 5 5 Ba3 BB+ 8/15/21 4.06 5.47 5 0.25 -1.94 Cco Hldgs Llc / Cco 5.75 2/15/26 5 5 B1 BB 2/15/24 5.27 6.03 5 0.22 -2.84 Constellium Nv Sr 14 5.88 2/15/26 1 1 B3 B- 2/15/24 5.24 6.45 1 0.05 -1.89 Sunoco Lp/Sunoco Fin 5.50 2/15/26 0 3 B1 BB- 2/15/25 5.51 6.29 3 0.12 NA Berry Global Inc Sr 4.50 2/15/26 0 5 B2 BB- 2/15/25 5.91 5.60 5 0.21 NA Hca Inc Sr Glbl Nt 2 5.88 2/15/26 7 7 B1 B+ 2/15/26 6.21 5.60 7 0.31 -2.41 Ball Corp Sr Glbl Nt 4.88 3/15/26 0 7 Ba1 BB+ 3/15/26 6.52 4.83 7 0.32 NA Anadarko Pete Corp S 5.55 3/15/26 1 0 Ba1 BBB 3/15/26 6.34 3.77 0 0.00 -1.48 Sinclair Television 5.88 3/15/26 9 9 B1 B+ 9/15/23 5.36 6.24 9 0.42 -3.41
21 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Charles Riv Labs Int 5.50 4/01/26 0 1 B1 BB+ 4/01/24 5.43 5.80 1 0.05 NA Wmg Acquisition Corp 5.50 4/15/26 0 8 B3 B 10/15/23 5.26 5.59 8 0.38 NA Coty Inc 6.5%26 6.50 4/15/26 0 3 B2 BB 4/15/26 6.20 6.40 3 0.12 NA Glp Cap Lp/Glp Fing 5.38 4/15/26 6 6 Ba1 BBB- 4/15/26 6.32 5.14 6 0.29 -4.12 Cemex Sab De Cv Sr S 7.75 4/16/26 3 3 B1 B+ 10/16/21 3.21 5.45 3 0.13 -1.03 Cco Hldgs Llc / Cco 5.50 5/01/26 5 5 B1 BB 5/01/25 5.66 5.93 5 0.22 -3.19 Hanesbrands Inc Sr 1 4.88 5/15/26 2 3 Ba2 BB- 5/15/26 6.48 5.33 2 0.11 -4.19 Aes Corp Sr Glbl Nt 6.00 5/15/26 0 0 Ba2 BB+ 5/15/22 4.19 5.22 0 0.00 NA Goodyear Tire & Rubr 5.00 5/31/26 5 5 Ba3 BB 5/31/25 5.79 5.63 5 0.24 -4.48 Calatlantic Group In 5.25 6/01/26 1 0 Ba2 BB 12/01/25 6.40 4.38 0 0.00 -1.61 Lennar Corp Sr Glbl 5.25 6/01/26 0 1 Ba1 BB+ 6/01/26 6.39 5.44 1 0.04 NA Kfc Hldg Co/Pizza Hu 5.25 6/01/26 3 3 B1 BB 12/01/23 5.39 5.45 3 0.14 -4.11 Aramark Svcs Inc Sr 4.75 6/01/26 2 2 Ba3 BB 12/01/25 5.94 5.28 2 0.09 -3.52 Transdigm Inc Sr Sb 6.38 6/15/26 1 4 B3 B- 12/15/24 5.22 6.37 4 0.20 1.31 Hca Inc Sr Sec Glbl 5.25 6/15/26 3 3 Ba1 BBB- 6/15/26 6.31 5.05 3 0.15 -3.21 Dish Dbs Corp Sr Glb 7.75 7/01/26 11 11 Ba3 B 7/01/26 5.78 8.82 10 0.47 -8.97 Gray Television Inc 5.88 7/15/26 3 3 B2 B+ 1/15/26 5.81 6.37 3 0.13 -3.70 MSCI Inc Sr Glbl 144 4.75 8/01/26 2 2 Ba2 BB+ 8/01/24 5.67 5.06 2 0.09 -4.60 Virgin Media Secd Fi 5.50 8/15/26 1 1 Ba3 BB- 2/15/25 5.92 6.09 1 0.05 -3.86 Post Hldgs Inc Sr Gl 5.00 8/15/26 11 12 B3 B 2/15/26 6.23 5.82 12 0.54 -2.17 Amerigas Partners L 5.88 8/20/26 5 5 Ba3 BB- 8/20/26 6.47 6.22 5 0.22 -3.69 United Rentals North 5.88 9/15/26 4 4 Ba3 BB- 9/15/26 6.63 5.28 4 0.19 -1.45
22 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Sm Energy Co Sr Glbl 6.75 9/15/26 2 2 B2 B+ 3/15/25 5.58 7.25 2 0.08 -2.26 Novelis Corp Sr 144a 5.88 9/30/26 6 8 B2 B 5/15/25 5.81 6.33 7 0.34 -2.50 Ims Health Inc Sr 14 5.00 10/15/26 4 5 Ba3 BB+ 4/15/25 5.92 5.21 5 0.23 -1.59 Lamb Weston Hldgs In 4.88 11/01/26 4 4 Ba3 BB 11/01/24 5.75 5.17 4 0.16 -3.99 Netflix Inc Sr Nt 4. 4.38 11/15/26 4 1 B1 B+ 11/15/26 6.92 5.17 1 0.05 -2.22 Tesoro Corp Sr Glbl 5.13 12/15/26 2 0 Baa3 BBB- 12/15/26 7.23 3.81 0 0.00 -2.75 Steel Dynamics Inc S 5.00 12/15/26 1 1 Ba1 BB+ 6/15/24 5.71 5.16 1 0.05 -4.27 Sinclair Television 5.13 2/15/27 5 6 B1 B+ 8/15/26 6.63 6.25 5 0.25 -5.15 Standard Inds Inc Sr 5.00 2/15/27 2 2 Ba2 BBB- 2/15/25 6.19 5.63 2 0.08 -3.86 Post Hldgs Inc Sr Gl 5.75 3/01/27 4 4 B3 B 9/01/24 5.83 6.10 4 0.17 -0.81 Goodyear Tire & Rubr 4.88 3/15/27 11 12 Ba3 BB 3/15/27 7.12 5.42 11 0.51 -4.86 Toll Bros Fin Corp 4 4.88 3/15/27 7 7 Ba1 BB+ 3/15/27 7.14 5.23 7 0.32 -4.86 Ak Stl Corp Sr Glbl 7.00 3/15/27 7 8 B3 B- 9/15/25 5.93 7.66 8 0.35 -2.23 Hilton Worldwide Fin 4.88 4/01/27 7 7 Ba3 BB+ 10/01/25 6.05 5.12 7 0.30 -4.34 Anglo American Capit 4.75 4/10/27 2 0 Baa3 BBB- 4/10/27 7.42 4.14 0 0.00 -2.22 Csc Hldgs Inc Sr 144 5.50 4/15/27 8 8 Ba2 BB- 10/15/26 6.35 6.16 8 0.35 -4.79 Cedar Fair L P / Can 5.38 4/15/27 3 3 B1 BB- 10/15/25 5.99 5.63 3 0.13 -4.45 Cco Hldgs Llc / Cco 5.88 5/01/27 1 1 B1 BB 5/01/24 5.37 6.26 1 0.07 -1.50 Chemours Co Sr Nt 5. 5.38 5/15/27 2 2 Ba3 BB- 5/15/27 6.99 5.34 2 0.10 -1.86 Wynn Las Vegas Llc / 5.25 5/15/27 5 0 B1 BB- 5/15/27 7.31 5.06 0 0.00 -1.93 United Rentals North 5.50 5/15/27 8 8 Ba3 BB- 8/15/24 5.89 5.48 8 0.36 -2.98 U S G Corp Sr Glbl 1 4.88 6/01/27 2 2 Ba1 BB+ 6/01/24 5.80 4.92 2 0.08 -1.40
23 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Belo Corp Sr Deb 7 7.75 6/01/27 1 1 Ba2 BB+ 6/01/27 6.49 6.23 1 0.04 -0.07 Kfc Hldg Co/Pizza Hu 4.75 6/01/27 3 3 B1 BB 12/01/25 6.52 5.50 3 0.15 -4.72 Cdk Global Inc Sr Gl 4.88 6/01/27 2 2 Ba1 BB+ 6/01/24 5.90 5.59 2 0.09 -3.75 Meritage Homes Corp 5.13 6/06/27 2 2 Ba2 BB 6/06/27 7.04 5.91 2 0.08 -5.88 Nokia Corp Sr Glbl N 4.38 6/12/27 2 4 Ba1 BB+ 6/12/27 7.31 5.22 4 0.17 -3.94 Calatlantic Group In 5.00 6/15/27 4 0 Ba2 BB 12/15/26 7.16 4.49 0 0.00 -1.46 Lennar Corp Sr Glbl 5.00 6/15/27 0 4 Ba1 BB+ 6/15/27 7.11 5.35 4 0.20 NA Commercial Metals Co 5.38 7/15/27 2 2 Ba2 BB+ 7/15/25 6.23 5.73 2 0.09 -2.13 Ashtead Capital Inc 4.38 8/15/27 5 5 Ba2 BBB- 8/15/26 6.86 5.21 5 0.21 -5.34 Aes Corp Sr Glbl Nt 5.13 9/01/27 3 6 Ba2 BB+ 3/01/24 5.84 5.03 6 0.28 -1.89 Olin Corp Sr Glbl Nt 5.13 9/15/27 6 6 Ba1 BB 3/15/25 6.17 5.47 6 0.27 -5.09 Lennar Corp Sr Glbl 4.75 11/29/27 4 5 Ba1 BB+ 11/29/27 7.49 5.32 4 0.20 -5.88 Service Corp Intl Sr 4.63 12/15/27 1 1 Ba3 BB 6/15/26 6.79 5.38 1 0.06 -3.76 Jeld-Wen Inc Sr 144a 4.88 12/15/27 1 1 B1 BB- 12/15/26 6.95 5.79 1 0.05 -5.24 Continental Resource 4.38 1/15/28 7 8 Ba2 BBB- 1/15/28 7.75 4.69 7 0.34 -0.14 Post Hldgs Inc Sr 14 5.63 1/15/28 4 7 B3 B 7/15/26 6.71 6.47 7 0.30 -3.62 Lucent Technologies 6.50 1/15/28 6 6 B2 NR 1/15/28 7.17 5.62 6 0.28 -2.78 Standard Inds Inc Sr 4.75 1/15/28 3 3 Ba2 BBB- 1/15/27 7.05 5.72 3 0.14 -4.95 United Rentals North 4.88 1/15/28 6 6 Ba3 BB- 1/15/26 6.80 5.65 6 0.28 -2.78 Hologic Inc Sr Glbl 4.63 2/01/28 0 2 Ba3 BB- 2/01/26 6.92 5.47 2 0.09 NA Aramark Svcs Inc Sr 5.00 2/01/28 0 5 Ba3 BB 8/01/25 6.63 5.44 5 0.22 NA Sunoco Lp/Sunoco Fin 5.88 3/15/28 0 2 B1 BB- 3/15/26 6.66 6.71 2 0.07 NA
24 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Neiman Marcus Group 7.13 6/01/28 4 7 Caa1 CCC 6/01/28 6.48 10.35 5 0.24 31.34 Lucent Technologies 6.45 3/15/29 9 9 B2 NR 3/15/29 7.77 6.26 9 0.42 -4.76 Liberty Media Corp S 8.50 7/15/29 5 4 B2 BB- 7/15/29 7.22 7.44 5 0.22 -0.13 Masco Corp Sr Nt 7.75 8/01/29 1 0 Ba1 BBB 8/01/29 7.96 4.39 0 0.00 -1.31 Olin Corp Sr Glbl Nt 5.00 2/01/30 0 1 Ba1 BB 8/01/27 7.70 5.79 1 0.05 NA Liberty Media Corp S 8.25 2/01/30 13 13 B2 BB- 2/01/30 7.54 7.28 14 0.65 1.02 El Paso Energy Corp 7.75 1/15/32 3 3 Baa3 BBB- 1/15/32 8.97 4.95 3 0.16 0.43 Marathon Oil Corp Sr 6.80 3/15/32 1 0 Ba1 BBB- 3/15/32 9.41 4.69 0 0.00 -0.27 Masco Corp Nt 6.5%32 6.50 8/15/32 0 0 Ba1 BBB 8/15/32 9.72 4.43 0 0.00 -3.77 Telecom Italia Cap S 6.38 11/15/33 1 1 Ba1 BB+ 11/15/33 9.82 5.55 1 0.06 -5.31 Telecom Italia Cap G 6.00 9/30/34 4 3 Ba1 BB+ 9/30/34 10.47 5.65 4 0.16 -6.28 Teck Resources Ltd S 6.13 10/01/35 1 1 Ba3 BB+ 10/01/35 10.52 5.58 1 0.04 -4.01 Embarq Corp Sr Nt 7. 8.00 6/01/36 2 2 Ba2 BB 6/01/36 8.93 8.63 2 0.10 -1.05 United States Stl Co 6.65 6/01/37 1 1 B2 B 6/01/37 10.36 6.84 1 0.06 1.68 Marathon Oil Corp Sr 6.60 10/01/37 1 0 Ba1 BBB- 10/01/37 11.73 4.63 0 0.00 -2.42 Weatherford Intl Ltd 7.00 3/15/38 1 2 Caa1 B- 3/15/38 8.91 10.34 1 0.06 -12.23 Nokia Corp Nt 6.625% 6.63 5/15/39 13 12 Ba1 BB+ 5/15/39 11.27 6.05 13 0.59 -1.91 Anadarko Petroleum C 6.20 3/15/40 3 0 Ba1 BBB 3/15/40 12.66 4.65 0 0.00 -1.51 Teck Resources Ltd G 6.00 8/15/40 1 1 Ba3 BB+ 8/15/40 12.27 5.76 1 0.03 -6.08 Weatherford Intl Ltd 6.75 9/15/40 5 7 Caa1 B- 9/15/40 9.48 9.84 5 0.23 -9.86 Time Warner Cable In 5.88 11/15/40 0 0 Baa2 BBB- 11/15/40 12.38 5.53 0 0.01 -2.45 Teck Resources Ltd S 6.25 7/15/41 2 2 Ba3 BB+ 7/15/41 12.33 5.78 2 0.11 -6.07
25 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Industrial (cont.) Time Warner Cable In 5.50 9/01/41 5 5 Ba1 BBB- 9/01/41 12.89 5.55 5 0.24 -3.37 Teck Resources Ltd S 5.20 3/01/42 0 1 Ba3 BB+ 3/01/42 13.14 5.70 0 0.02 -4.26 Weatherford Intl Ltd 5.95 4/15/42 3 6 Caa1 B- 4/15/42 9.84 9.37 4 0.18 -11.58 Teck Resources Ltd S 5.40 2/01/43 5 5 Ba3 BB+ 2/01/43 13.15 5.76 5 0.22 -3.90 Continental Resource 4.90 6/01/44 2 2 Ba2 BBB- 6/01/44 14.09 5.20 2 0.11 1.53 Marathon Oil Corp Sr 5.20 6/01/45 1 0 Ba1 BBB- 12/01/44 14.89 4.50 0 0.00 -3.97 Charter Communicatio 6.48 10/23/45 4 4 Ba1 BBB- 10/23/45 13.02 5.77 4 0.20 -4.48 Anadarko Pete Corp S 6.60 3/15/46 1 0 Ba1 BBB 9/15/45 14.01 4.73 0 0.00 -0.99 Viacom Inc New Jr Sb 6.25 2/28/57 4 3 Ba1 BB 2/28/57 4.31 12.50 3 0.16 5.55 Viacom Inc New Jr Sb 5.88 2/28/57 0 6 Ba1 BB 2/28/57 4.66 11.75 6 0.29 NA 1,424 65.45 Transportation Avis Budget Car Rent 5.13 6/01/22 8 8 B1 BB- 6/01/22 3.65 5.12 8 0.37 0.02 Envision Healthcare 5.13 7/01/22 8 9 B3 B 1/01/21 2.92 6.13 9 0.41 3.88 Avis Budget Car Rent 5.50 4/01/23 7 7 B1 BB- 4/01/23 4.20 5.56 7 0.33 -1.36 Cemex Finance Llc Sr 6.00 4/01/24 2 2 B1 BB 4/01/24 4.78 5.36 2 0.10 -0.73 Avis Budget Car Rent 6.38 4/01/24 2 3 B1 BB- 10/01/19 1.74 5.65 3 0.12 -1.40 Iron Mtn Inc Del Sr 5.75 8/15/24 3 3 B2 B 8/15/24 5.20 6.35 3 0.14 -2.92 Avis Budget Car Rent 5.25 3/15/25 2 2 B1 BB- 3/15/24 5.32 6.38 2 0.09 -2.48 34 1.55 Utilities Dcp Midstream Llc Sr 9.75 3/15/19 2 0 Ba2 BB 3/15/19 0.92 3.85 0 0.01 -0.20
26 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Utilities (cont.) Dcp Midstream Operat 2.70 4/01/19 2 0 Ba2 BB 4/01/19 1.22 3.21 0 0.00 0.29 Sprint Nextel Corp G 7.00 3/01/20 8 8 B1 B+ 3/01/20 1.78 4.26 8 0.37 -0.25 Dcp Midstream Llc Sr 5.35 3/15/20 1 1 Ba2 BB 3/15/20 1.85 3.88 1 0.05 -0.17 Energy Transfer Equi 7.50 10/15/20 8 8 Ba2 BB- 10/15/20 2.25 4.27 8 0.39 -0.42 Ferrellgas L P / Fer 6.50 5/01/21 7 8 B3 B- 5/01/21 2.62 8.08 8 0.37 3.99 Dcp Midstream Llc Sr 4.75 9/30/21 2 2 Ba2 BB 9/30/21 3.20 4.48 2 0.10 -1.16 Ferrellgas L P / Fer 6.75 1/15/22 1 2 B3 B- 1/15/22 3.21 8.39 2 0.07 4.24 Dcp Midstream Operat 4.95 4/01/22 5 5 Ba2 BB 4/01/22 3.51 4.81 5 0.22 -2.07 Nrg Energy Inc Sr Nt 6.25 7/15/22 5 5 B1 BB- 7/15/22 3.69 5.46 6 0.25 0.50 Southern Star Cent C 5.13 7/15/22 1 2 Baa3 BB+ 7/15/20 2.17 4.95 2 0.07 -0.95 Sba Communications C 4.88 7/15/22 5 4 B2 B+ 7/15/20 2.50 5.03 4 0.18 -0.77 Ngpl Pipeco Llc Sr G 4.38 8/15/22 1 1 Ba1 BB+ 8/15/22 3.92 4.53 1 0.07 -1.21 Level 3 Fing Inc Sr 5.38 8/15/22 7 8 Ba3 BB 8/15/22 3.78 5.38 8 0.36 0.05 Sprint Nextel Corp S 6.00 11/15/22 1 1 B3 B 11/15/22 3.88 6.47 1 0.05 -0.39 Williams Cos Inc Del 3.70 1/15/23 4 5 Ba2 BB+ 1/15/23 4.30 4.34 5 0.23 -1.34 Level 3 Fing Inc Sr 5.63 2/01/23 3 3 Ba3 BB 6/15/22 3.27 5.67 3 0.13 0.73 Energy Transfer Equi 4.25 3/15/23 8 9 Ba2 BB- 3/15/23 4.40 4.94 8 0.39 -1.21 Dcp Midstream Operat 3.88 3/15/23 3 3 Ba2 BB 3/15/23 4.44 4.67 3 0.12 -1.93 Zayo Group Llc/Zayo 6.00 4/01/23 10 11 B3 B 10/01/20 2.34 5.38 11 0.51 0.08 Level 3 Fing Inc Sr 5.13 5/01/23 4 4 Ba3 BB 5/01/23 4.39 5.55 4 0.17 -0.86 Ferrellgas L P / Fer 6.75 6/15/23 2 3 B3 B- 6/15/23 4.16 8.94 3 0.12 1.00 Sprint Corp Sr Glbl 7.88 9/15/23 31 31 B3 B 9/15/23 4.37 7.42 32 1.45 -2.40
27 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Utilities (cont.) Energy Transfer Equi 5.88 1/15/24 6 6 Ba2 BB- 1/15/24 4.82 5.22 6 0.28 -0.52 Nrg Energy Inc Sr Nt 6.25 5/01/24 5 8 B1 BB- 5/01/21 2.96 5.76 8 0.37 -0.20 Telecom Italia S P A 5.30 5/30/24 1 0 Ba1 BB+ 5/30/24 5.42 4.10 0 0.00 -3.46 Williams Cos Inc Del 4.55 6/24/24 2 3 Ba2 BB+ 6/24/24 5.31 4.42 4 0.16 -1.86 Nextera Energy Oper 4.25 9/15/24 2 2 Ba1 BB 9/15/24 5.56 4.80 2 0.10 -3.64 Virgin Media Fin Plc 6.00 10/15/24 2 2 B2 B 4/15/23 4.42 6.55 2 0.09 -2.09 Sensata Tech Bv Sr 1 5.63 11/01/24 2 2 Ba3 BB+ 11/01/24 5.36 4.82 2 0.10 -3.63 Sprint Corp Sr Nt 7. 7.63 2/15/25 6 6 B3 B 2/15/25 5.20 7.96 6 0.25 -4.41 Zayo Group Llc/Zayo 6.38 5/15/25 6 6 B3 B 11/15/21 3.75 5.83 6 0.27 -0.64 Sensata Tech Bv Fr 5 5.00 10/01/25 5 5 Ba3 BB+ 10/01/25 6.02 5.24 5 0.25 -5.69 Whiting Pete Corp Ne 6.63 1/15/26 2 10 B3 BB- 1/15/26 5.92 6.50 10 0.46 0.38 Nrg Energy Inc Sr Nt 7.25 5/15/26 5 5 B1 BB- 5/15/22 4.11 6.27 5 0.24 -1.20 Sabine Pass Liquefac 5.88 6/30/26 5 4 Baa3 BBB- 12/31/25 6.08 4.44 5 0.22 -1.42 Zayo Group Llc/Zayo 5.75 1/15/27 2 2 B3 B 1/15/25 6.03 6.27 2 0.09 -2.77 T Mobile Usa Inc Sr 5.38 4/15/27 11 11 Ba2 BB+ 10/15/24 5.70 5.36 11 0.49 -4.26 Equinix Inc Sr Nt 5. 5.38 5/15/27 5 5 B1 BB+ 5/15/24 5.65 5.34 5 0.23 -3.90 Amerigas Partners L 5.75 5/20/27 6 6 Ba3 BB- 5/20/27 6.81 6.39 6 0.27 -3.91 Energy Transfer Equi 5.50 6/01/27 10 11 Ba2 BB- 6/01/27 6.99 5.46 11 0.50 -0.38 Chesapeake Energy Co 8.00 6/15/27 7 10 Caa1 CCC+ 6/15/27 6.01 8.72 10 0.45 1.54 Cheniere Corpus Chri 5.13 6/30/27 4 4 Ba3 BB- 6/30/27 7.18 5.23 4 0.20 -2.83 Ngpl Pipeco Llc Sr G 4.88 8/15/27 2 2 Ba1 BB+ 8/15/27 7.18 5.08 2 0.08 -3.90 Nextera Energy Oper 4.50 9/15/27 2 2 Ba1 BB 9/15/27 7.53 5.28 2 0.11 -4.16
28 Chatham University Fixed Income Holdings Vanguard HY Corp Admiral Quarter Ended 3/31/18
Quantity Quality Effective Buy/Hold Name Coupon Maturity 12/31/17 3/31/18 Moody S&P Maturity Dura Yield $(000) % Port Return Utilities (cont.) Belo Corp Sr Glbl De 7.25 9/15/27 2 2 Ba2 BB+ 9/15/27 6.86 6.17 2 0.10 -1.87 Southwestern Energy 7.75 10/01/27 0 2 B1 BB- 4/01/25 5.56 7.57 2 0.09 NA Tallgrass Energy Par 5.50 1/15/28 0 6 Ba3 BB+ 1/15/25 6.04 5.45 6 0.26 NA Sprint Cap Corp Sr N 6.88 11/15/28 14 15 B3 B 11/15/28 7.09 7.82 14 0.65 -5.64 US West Communicatio 6.88 9/15/33 2 3 Ba2 BBB- 9/15/25 6.02 7.81 2 0.11 1.04 Telecom Italia Cap S 7.72 6/04/38 5 4 Ba1 BB+ 6/04/38 10.83 5.83 5 0.25 -3.74 Rockies Express Pipe 7.50 7/15/38 0 4 Ba2 BB+ 7/15/38 11.01 5.83 5 0.22 NA Rockies Express Pipe 6.88 4/15/40 0 1 Ba2 BB+ 4/15/40 11.62 5.65 2 0.08 NA Dcp Midstream Operat 5.60 4/01/44 3 3 Ba2 BB 4/01/44 13.25 5.52 3 0.13 3.28 Williams Cos Inc Del 5.75 6/24/44 4 4 Ba2 BB+ 6/24/44 13.51 5.34 4 0.21 0.39 282 12.98
Total Portfolio -1.42
29 Chatham University Custom Benchmark Specification Vanguard HY Corp Admiral Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Policy Index 9/17 9/17 5.00 Bloomberg U.S. Treasury 1-5yr 95.00 Bloomberg HY Ba+B 2% Capped 12/17 3/18 5.00 Bloomberg U.S. Treasury 1-5yr 95.00 Bloomberg HY Ba+B 2% Capped
30 Chatham University Fund Return Table Quarter Ended 3/31/18
Since Inception Inception Manager 1 Quarter 2 Quarters 3 Quarters 1 Year 3 Years 5 Years 3/31/08 Date Return DFA Emerging Markets Value 2.24 10.34 16.47 19.75 10.08 4.33 6/30/09 6.98 MSCI EM Index (N) 1.42 8.96 17.56 24.93 8.81 4.98 6/30/09 7.53 Value Added 0.82 1.39 -1.09 -5.17 1.27 -0.66 -0.56
Oppenheimer Emerging 2.96 8.19 17.14 25.25 9.17 5.86 5.95 12/31/05 8.47 MSCI EM Index (N) 1.42 8.96 17.56 24.93 8.81 4.98 3.02 12/31/05 6.68 Value Added 1.55 -0.77 -0.42 0.33 0.36 0.88 2.94 1.79
Vanguard Dev Mkt -1.08 3.32 9.06 16.02 3/31/17 16.02 FTSE Developed All Cap ex US Ind -1.72 3.18 9.07 15.93 3/31/17 15.93 Value Added 0.63 0.14 -0.01 0.09 0.09
International Equity Composite -0.29 4.57 10.66 17.34 8.46 5.73 2.58 9/30/01 7.54 Policy Index -0.94 3.88 10.03 16.80 5.80 5.04 2.61 9/30/01 7.29 Value Added 0.65 0.69 0.63 0.55 2.66 0.69 -0.03 0.25 MSCI ACWI X US (N) -1.18 3.76 10.16 16.53 6.18 5.89 2.70 9/30/01 7.35 Value Added 0.89 0.81 0.51 0.82 2.28 -0.15 -0.11 0.20
1 Chatham University Performance Comparison TUCS Total Ret of Non-US Equity Investment Pools Periods Ended 3/31/18 30%
25%
20%
i i 1 15% 1
10% i 1
Rate of Return i
5% 1 i i 1 1 5th i 1 25th 0% Med i 75th 1 95th -5% Manager returns are Gross of Fees 1 Quarter 2 Quarters 3 Quarters 1 Year 2 Years 3 Years 5 Years 10 Years
i International Equity Com -0.29 (50) 4.57 (53) 10.66 (60) 17.34 (70) 17.52 (28) 8.46 (19) 5.73 (82) 2.65 (88) 1 Policy Index -0.94 (84) 3.88 (67) 10.03 (68) 16.80 (75) 14.81 (71) 5.80 (83) 5.04 (91) 2.61 (88)
Median -0.28 4.63 11.24 18.29 15.98 7.55 7.25 3.66 Number of Funds 64 64 63 63 61 58 54 39
2 Chatham University Performance Comparison Total Returns of Lipper International Equity Mutual Funds Periods Ended 3/31/18 35%
30%
25% h z
z 20% h
h z 15%
Rate of Return 10% z h h z h h 5% 5th z 25th h z z 0% Med 75th 95th -5% Manager returns are Gross of Fees 1 Quarter 2 Quarters 3 Quarters 1 Year 2 Years 3 Years 5 Years 10 Years
DFA Emerging Markets Val 2.24 (21) 10.34 (12) 16.47 (26) 19.75 (45) 22.68 (12) 10.08 (21) 4.33 (81) h Oppenheimer Emerging 2.96 (13) 8.19 (28) 17.14 (23) 25.25 (22) 20.25 (24) 9.17 (29) 5.86 (60) 5.95 (13) z MSCI EM Index (N) 1.42 (30) 8.96 (21) 17.56 (22) 24.93 (23) 21.01 (20) 8.81 (32) 4.98 (73) 3.02 (53)
Median 0.05 4.90 11.60 18.72 15.45 7.10 6.36 3.17 Number of Funds 2546 2480 2441 2385 2197 1921 1522 889
3 Chatham University Intl Equity Fund Structural Characteristics International Equity Composite Quarter Ended 3/31/18
%Intl Sectors Turn- Manager US$(000) # Equity %Cash%Other ENR MAT IND CDI CST HTH FIN INF TEL UTL RES Over DFA Emerging Markets Value 1,515 2,280 100 0 0 15 18 9 8 3 1 29 8 3 1 4 NA Oppenheimer Emerging 1,590 95 100 0 0 4 6 6 17 10 8 20 26 1 0 2 NA Vanguard Dev Mkt 10,897 3,868 100 0 0 6 9 15 13 10 9 21 8 3 3 4 NA International Equity Composite 14,002 6,011 100 0 0 7 9 13 13 9 8 22 10 3 2 4 NA
MSCI EM Index (N) 5,503,587 846 100 0 0 7 7 5 9 6 3 24 28 5 2 3 NA MSCI EAFE Index (N) 14,739,360 927 100 0 0 5 8 15 13 11 10 21 7 4 3 4 NA
4 Chatham University Intl Equity Fund Investment Characteristics International Equity Composite Quarter Ended 3/31/18
Growth Average $ Valuation Risk Manager 5 Yrs EPS 5 Yrs Div Market Cap($Mil) P/E P/B YLD ROE Beta DBT/EQT DFA Emerging Markets Value 1.1 6.3 25,603 14.1 1.1 3.9 8.1 0.99 0.64 Oppenheimer Emerging 11.6 8.5 108,985 27.3 1.7 1.5 17.2 0.98 0.59 Vanguard Dev Mkt 11.7 10.0 49,089 17.9 1.6 3.1 15.7 0.97 0.75 International Equity Composite 10.5 9.4 53,373 18.1 1.5 3.0 15.1 0.97 0.72
MSCI EM Index (N) 11.9 14.1 92,076 17.9 1.8 2.7 15.7 1.00 0.55 MSCI EAFE Index (N) 11.2 7.9 56,601 17.7 1.7 3.2 15.6 1.00 0.80
5 Chatham University Intl Equity Return Analysis International Equity Composite Quarter Ended 3/31/18
Policy Intl Net Management Effect Local Policy Policy Total Equity Currency Country Country Quarter Currency Currency US $ Return Return Timing Hedging Currency Market Sector Stock Trading Total 06/13 -2.38 -3.33 -5.71 -4.68 -4.68 0.00 0.00 0.34 0.52 -0.19 -0.20 0.57 1.03 09/13 6.51 1.19 7.70 9.71 9.71 -0.00 0.00 0.08 -0.57 1.00 3.84 -2.34 2.01 12/13 4.15 -1.03 3.12 3.78 3.77 0.01 0.00 0.11 0.16 0.42 1.72 -1.77 0.65
03/14 -0.27 0.21 -0.07 -1.37 -1.37 0.00 0.00 0.17 0.18 0.10 -1.28 -0.48 -1.31 06/14 5.01 0.75 5.76 6.08 6.08 -0.00 0.00 -0.30 -0.50 0.58 2.23 -1.68 0.32 09/14 0.99 -5.28 -4.29 -5.76 -5.76 0.00 0.00 0.16 0.40 -0.50 -1.74 0.20 -1.48 12/14 1.09 -5.28 -4.19 -4.43 -4.43 0.00 0.00 0.54 0.27 -0.11 -0.86 -0.08 -0.24 2014 6.90 -9.99 -3.09 -5.77 -5.78 0.00 0.00 0.57 0.35 0.07 -1.69 -1.99 -2.69 03/15 7.18 -4.06 3.12 1.27 1.27 0.00 0.00 0.06 0.10 0.27 0.13 -2.40 -1.85 06/15 0.16 0.51 0.67 2.45 1.81 0.65 0.00 0.07 0.13 0.48 1.32 -0.86 1.78 09/15 -10.71 -4.63 -15.34 -11.38 -11.33 -0.05 0.00 1.17 3.20 -1.21 -2.86 3.71 3.96 12/15 3.39 -1.38 2.01 3.14 3.14 0.07 -0.07 -0.02 -0.23 0.65 2.39 -1.66 1.13 2015 -0.89 -9.46 -10.35 -5.17 -5.72 0.61 -0.07 1.27 3.20 0.18 0.91 -0.92 5.18 03/16 -0.00 2.81 2.81 -1.34 -1.34 0.00 0.00 -0.47 -2.40 -0.86 -0.87 0.46 -4.15 06/16 1.08 -1.13 -0.05 -0.25 -0.25 0.00 0.00 0.03 -0.71 -0.25 -0.35 1.07 -0.21 09/16 6.86 1.30 8.16 5.54 5.54 0.00 0.00 -0.46 -2.18 0.86 1.65 -2.49 -2.63 12/16 1.99 -5.01 -3.01 1.08 1.08 -0.00 0.00 0.75 -0.62 0.18 0.88 2.89 4.09 2016 10.17 -2.37 7.80 4.97 4.97 -0.00 0.00 -0.15 -5.80 -0.08 1.30 1.91 -2.83 03/17 6.29 3.75 10.04 10.62 10.62 0.00 0.00 0.49 2.42 0.29 1.62 -4.24 0.58 06/17 5.06 1.16 6.22 6.04 6.04 0.00 0.00 0.43 -1.42 0.61 2.04 -1.84 -0.18 09/17 6.30 0.76 7.06 5.82 5.77 0.06 0.00 -0.07 -2.02 0.58 1.69 -1.48 -1.24 12/17 5.79 0.58 6.37 4.88 4.88 0.00 0.00 -0.31 -1.58 0.58 1.51 -1.69 -1.49 2017 25.58 7.53 33.11 30.19 30.12 0.07 0.00 0.53 -2.63 2.08 7.04 -10.01 -2.92
6 Chatham University Intl Equity Return Analysis International Equity Composite Quarter Ended 3/31/18
Policy Intl Net Management Effect Local Policy Policy Total Equity Currency Country Country Quarter Currency Currency US $ Return Return Timing Hedging Currency Market Sector Stock Trading Total 03/18 -0.93 1.36 0.43 -0.29 -0.29 0.00 0.00 0.05 -0.56 -0.22 0.03 -0.03 -0.72
From Inception 9.48 -3.91 5.57 5.73 5.60 0.15 -0.01 0.56 -1.12 0.65 2.55 -2.62 0.16 Avg Up Markets 4.29 0.59 4.88 4.44 4.38 0.06 -0.01 -0.44 Avg Down Markets -1.17 -3.49 -4.67 -3.83 -3.82 -0.01 0.00 0.84
7 Chatham University Fund Country Allocation International Equity Composite Quarter Ended 3/31/18
Country DFA Emerging Markets Value Oppenheimer Emerging Vanguard Dev Mkt International Equity Composite MSCI EAFE Index (N) Austria 0.0 0.0 0.4 0.3 0.3 Belgium 0.0 0.0 1.1 0.8 1.1 Bulgaria 0.0 0.0 0.1 0.1 0.0 Cyprus +0 0.0 0.0 +0 0.0 Czech Republic 0.2 0.0 0.0 +0 0.0 Denmark 0.0 0.0 1.6 1.2 1.8 Finland 0.0 0.0 1.0 0.8 1.0 France 0.0 4.6 7.6 6.5 10.9 Germany +0 0.0 8.0 6.2 9.7 Greece +0 0.0 0.0 +0 0.0 Hungary 0.3 0.0 0.0 +0 0.0 Ireland 0.0 0.0 0.4 0.3 0.5 Isle of Man 0.0 0.0 0.1 0.1 0.1 Italy 0.0 1.5 2.2 1.9 2.5 Luxembourg 0.0 0.0 0.1 0.1 0.0 Netherlands 0.0 0.5 3.3 2.7 3.7 Norway 0.0 0.0 0.7 0.5 0.7 Poland 1.3 0.0 0.0 0.1 0.0 Portugal 0.0 0.3 0.2 0.2 0.2 Scotland 0.0 0.0 0.1 0.1 +0 Spain 0.0 0.3 2.8 2.2 3.2 Sweden 0.0 0.0 2.6 2.0 2.7 Switzerland 0.0 0.0 6.5 5.0 7.8 Turkey 1.4 1.2 0.0 0.3 0.0 United Kingdom +0 4.2 14.5 11.8 17.3
8 Chatham University Fund Country Allocation International Equity Composite Quarter Ended 3/31/18
Country DFA Emerging Markets Value Oppenheimer Emerging Vanguard Dev Mkt International Equity Composite MSCI EAFE Index (N) Total Europe 3.4 12.6 53.1 43.1 63.4
Bermuda 0.1 1.1 0.1 0.2 0.0 Brazil 9.2 5.1 0.0 1.6 0.0 Canada 0.0 0.0 7.9 6.1 0.0 Cayman Islands 1.7 13.2 0.4 2.0 0.0 Chile 1.7 0.3 0.0 0.2 0.0 Colombia 0.3 1.1 0.0 0.2 0.0 Mexico 3.7 5.1 +0 1.0 0.0 Panama +0 0.0 0.0 +0 0.0 United States +0 0.1 0.1 0.1 0.0 Total Americas 16.7 25.9 8.5 11.3 0.0
Australia 0.0 0.0 6.1 4.7 6.6 Hong Kong 3.4 4.7 2.4 2.8 3.6 India 11.4 12.1 +0 2.6 0.0 Indonesia 2.7 2.3 0.0 0.6 0.0 Japan 0.0 0.0 22.5 17.5 24.6 Malaysia 3.0 1.2 +0 0.5 0.0 New Zealand 0.0 0.0 0.3 0.2 0.2 Papua-New Guinea 0.0 0.0 +0 +0 0.0 China 12.2 11.3 0.1 2.7 0.0 Philippines 1.0 3.9 0.0 0.5 0.0 Singapore +0 0.0 1.3 1.0 1.4 South Korea 17.3 8.2 4.8 6.6 0.0
9 Chatham University Fund Country Allocation International Equity Composite Quarter Ended 3/31/18
Country DFA Emerging Markets Value Oppenheimer Emerging Vanguard Dev Mkt International Equity Composite MSCI EAFE Index (N) Taiwan 16.2 7.1 0.0 2.6 0.0 Thailand 3.2 0.0 0.0 0.3 0.0 Vietnam 0.0 0.2 0.0 +0 0.0 Total Pacific Basin 70.4 51.0 37.6 42.7 36.3
Other Countries 9.6 10.6 0.8 2.9 0.6
10 Chatham University Custom Benchmark Specification International Equity Composite Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Policy Index 9/01 6/09 100.00 MSCI ACWI ex US (N) 9/09 9/09 50.00 MSCI EM Index (N) 50.00 MSCI World X-US (N) 12/09 6/10 66.67 MSCI EM Index (N) 33.33 MSCI World X-US (N) 9/10 9/10 100.00 Chatham University Int'l Equity 12/10 12/11 33.33 MSCI EAFE Index (N) 66.67 MSCI Emerging Mkts (N) 3/12 12/14 50.00 MSCI Emerging Mkts (N) 50.00 MSCI EAFE Index (N) 3/15 9/15 64.00 MSCI EAFE Index (N) 36.00 MSCI Emerging Mkts (N) 12/15 3/18 20.00 MSCI Emerging Mkts (N) 80.00 MSCI EAFE Index (N)
11 Chatham University Growth of One Dollar DFA Emerging Markets Value Quarter Ended 3/31/18
2.00
1.90
1.80
1.70
1.60
1.50
Value 1.40
1.30
1.20
1.10
1.00
0.90 3/10 3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 6/30/09 Value Total 10.08 6.98 1.80 MSCI EM Index (N) 8.81 7.53 1.89
1 Chatham University Value Added Analysis DFA Emerging Markets Value Quarter Ended 3/31/18
5.0%
4.0% 3.18 3.20 3.0% 2.75
2.0% 1.38 1.0% 0.88 1.02 0.69 0.82 0.62 0.49 0.0% -0.26 -1.0% -0.83 -0.9 -1.27
-2.0% -1.82 -1.67 -2.17 -2.34 -3.0% -2.43
-4.0% -3.45
-5.0%
-6.0%
-7.0%
-8.0%
-9.0% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. MSCI EM Index (N) Cumulative Value Added 2 Yr Rolling Avg (Annualized)
2 Chatham University Intl Equity Structural Characteristics DFA Emerging Markets Value Quarter Ended 3/31/18
# %Intl Sectors Turn- Quarter $(000) Stocks Equity %Cash %Other ENR MAT CAP CON SRV FIN MIN GMN MIS Over 06/30/09 2,961 1,931 100 0 0 6.6 14.6 20.4 13.0 13.7 25.9 2.8 0.2 2.9 NA 09/30/09 4,805 1,916 100 0 0 5.4 13.7 18.6 9.6 10.8 23.6 2.5 0.0 15.7 NA 12/31/09 5,238 1,849 100 0 0 7.7 13.8 17.7 9.3 10.2 23.1 2.6 0.0 15.7 NA 03/31/10 5,416 1,934 100 0 0 9.2 13.7 17.3 9.4 10.1 23.7 2.4 0.0 14.3 NA 06/30/10 4,910 1,961 100 0 0 9.7 13.1 17.9 9.5 10.4 22.6 2.2 0.0 14.4 NA 09/30/10 5,899 1,962 100 0 0 8.5 13.0 17.6 8.7 10.4 23.3 2.1 0.0 16.4 NA 12/31/10 6,393 2,000 100 0 0 9.2 12.3 18.2 7.7 10.3 23.8 2.0 0.0 16.7 NA 03/31/11 6,439 2,048 100 0 0 9.8 11.6 17.6 7.4 9.7 23.9 1.8 0.0 18.2 NA 06/30/11 5,044 2,100 100 0 0 9.0 11.8 17.9 7.3 9.7 24.1 1.8 0.0 18.4 NA 09/30/11 3,687 2,127 100 0 0 9.5 11.3 17.0 7.5 9.8 24.8 1.7 0.0 18.5 NA 12/31/11 3,818 2,106 100 0 0 9.1 11.5 17.4 7.5 9.8 24.1 1.7 0.0 18.9 NA 03/31/12 2,958 2,147 100 0 0 9.1 11.8 18.0 7.3 10.1 24.5 1.7 0.0 17.6 NA 06/30/12 2,660 2,124 100 0 0 8.5 11.3 18.2 6.8 10.5 26.0 1.7 0.0 17.0 NA 09/30/12 2,852 2,114 100 0 0 8.7 11.4 18.0 6.1 10.7 26.5 1.7 0.0 16.8 NA 12/31/12 3,054 2,130 100 0 0 7.7 11.4 18.4 5.3 11.2 27.7 1.8 0.0 16.4 NA 03/31/13 3,025 2,109 100 0 0 12.2 12.5 20.6 7.0 12.3 30.0 2.7 0.7 2.0 NA 06/30/13 2,715 2,139 100 0 0 7.9 10.6 18.5 5.4 12.0 28.4 1.7 0.0 15.4 NA 09/30/13 2,909 2,133 100 0 0 13.2 12.7 20.6 6.6 12.7 29.0 2.4 0.6 2.0 NA 12/31/13 2,938 2,137 100 0 0 12.4 13.3 20.5 6.8 12.8 29.2 2.4 0.5 2.1 NA 03/31/14 2,918 2,126 100 0 0 11.7 12.9 20.5 6.9 12.6 29.5 2.4 1.1 2.3 NA 06/30/14 3,136 2,183 100 0 0 10.5 13.2 20.9 6.9 12.5 29.5 2.6 1.4 2.6 NA 09/30/14 2,998 2,138 100 0 0 10.0 13.5 20.1 7.0 12.9 29.9 2.4 1.5 2.6 NA MSCI EM Index (N) 5,503,587 846 100 0 0 4.2 6.0 21.1 8.2 25.0 23.5 5.9 0.8 5.4 NA
Characteristics represent 100% of portfolio's market value. 3 Chatham University Intl Equity Structural Characteristics DFA Emerging Markets Value Quarter Ended 3/31/18
# %Intl Sectors Turn- Quarter $(000) Stocks Equity %Cash %Other ENR MAT CAP CON SRV FIN MIN GMN MIS Over 12/31/14 2,808 2,053 100 0 0 7.5 12.5 20.8 7.4 12.8 33.2 1.8 1.4 2.6 NA 03/31/15 2,803 2,080 100 0 0 6.9 12.9 21.0 8.1 13.3 31.5 2.1 1.5 2.8 NA 06/30/15 2,351 2,080 100 0 0 8.3 13.3 19.9 8.3 13.5 30.3 2.1 1.6 2.7 NA 09/30/15 1,079 2,145 100 0 0 7.4 13.1 20.0 9.5 14.0 29.2 2.2 1.4 3.1 NA 12/31/15 1,068 2,164 100 0 0 7.7 12.7 20.2 9.4 14.0 29.1 2.5 1.1 3.3 NA 03/31/16 1,163 2,129 100 0 0 8.4 12.7 20.4 9.1 13.8 28.2 2.6 1.5 3.3 NA 06/30/16 1,178 2,087 100 0 0 9.2 12.2 19.5 9.1 13.3 28.6 2.6 1.8 3.5 NA 09/30/16 1,292 2,093 100 0 0 9.5 14.4 18.9 8.9 12.8 28.1 2.4 1.4 3.6 NA 12/31/16 1,280 2,142 100 0 0 10.3 12.5 19.3 9.0 13.2 28.6 2.1 1.6 3.5 NA 03/31/17 1,461 2,139 100 0 0 8.4 13.3 21.0 8.9 13.2 27.8 2.0 1.7 3.8 NA 06/30/17 1,300 2,165 100 0 0 6.9 13.2 22.4 9.0 13.1 28.0 2.0 1.6 3.8 NA 09/30/17 1,373 2,221 100 0 0 7.5 14.0 21.9 8.1 13.4 27.4 2.0 1.9 3.8 NA 12/31/17 1,481 2,233 100 0 0 7.7 14.4 21.1 7.6 13.8 27.7 1.9 2.1 3.8 NA 03/31/18 1,515 2,280 100 0 0 8.4 14.0 21.2 7.1 14.2 27.9 1.8 2.1 3.3 NA
MSCI EM Index (N) 5,503,587 846 100 0 0 4.2 6.0 21.1 8.2 25.0 23.5 5.9 0.8 5.4 NA
Characteristics represent 100% of portfolio's market value. 4 Chatham University Intl Equity Investment Characteristics DFA Emerging Markets Value Quarter Ended 3/31/18
Growth Average Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Mkt Cap $(Mil) P/E P/B YLD ROE Beta Debt/Eqty 06/30/09 13.3 14.3 7,172 13.0 1.2 3.3 11.0 1.07 0.66 09/30/09 11.9 13.3 9,049 17.6 1.3 2.3 9.4 1.09 0.72 12/31/09 11.3 13.1 13,082 20.2 1.4 2.1 8.4 1.09 0.69 03/31/10 9.8 9.5 14,447 19.5 1.3 2.0 8.7 1.09 0.62 06/30/10 6.5 7.1 13,646 14.3 1.2 2.4 8.9 1.08 0.64 09/30/10 6.2 8.2 14,666 15.4 1.3 2.1 9.1 1.08 0.64 12/31/10 5.0 6.0 19,033 16.3 1.5 2.1 9.4 1.09 0.63 03/31/11 5.7 2.8 24,576 14.1 1.4 2.3 10.1 1.08 0.57 06/30/11 5.9 4.3 22,216 11.1 1.2 2.5 12.9 1.09 0.57 09/30/11 6.2 4.8 16,743 10.0 0.9 3.3 12.9 1.09 0.54 12/31/11 6.0 5.5 18,748 10.5 0.9 3.2 12.7 1.11 0.52 03/31/12 5.6 4.3 20,692 10.2 1.0 2.8 11.5 1.13 0.53 06/30/12 5.0 5.0 15,765 10.0 0.9 3.0 10.0 1.14 0.56 09/30/12 4.9 5.3 18,644 10.0 1.0 2.9 9.9 1.15 0.56 12/31/12 4.9 4.8 18,163 10.5 1.0 2.7 9.9 1.16 0.56 03/31/13 4.2 4.6 17,502 10.6 1.0 2.7 9.5 1.16 0.54 06/30/13 4.3 7.5 14,993 12.9 0.8 2.8 9.3 1.18 0.55 09/30/13 3.9 7.8 18,599 10.9 0.9 2.7 8.9 1.17 0.55 12/31/13 3.9 7.6 17,810 11.1 0.9 2.7 8.9 1.16 0.56 03/31/14 4.4 10.4 17,926 11.1 0.9 2.9 8.2 1.15 0.60 06/30/14 4.7 9.9 18,690 12.7 1.0 2.8 8.3 1.14 0.61 09/30/14 4.7 10.3 17,095 11.9 0.9 3.0 8.1 1.15 0.61 MSCI EM Index (N) 11.9 14.1 92,076 17.9 1.8 2.7 15.7 1.00 0.55
Characteristics represent 100% of portfolio's market value. 5 Chatham University Intl Equity Investment Characteristics DFA Emerging Markets Value Quarter Ended 3/31/18
Growth Average Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Mkt Cap $(Mil) P/E P/B YLD ROE Beta Debt/Eqty 12/31/14 5.2 10.1 17,350 13.4 0.9 3.0 8.5 1.16 0.63 03/31/15 1.2 4.9 16,387 15.0 0.9 3.1 7.6 1.15 0.63 06/30/15 0.4 4.9 18,694 15.9 0.9 2.9 7.4 1.14 0.63 09/30/15 2.0 5.4 13,798 12.6 0.8 3.5 7.8 1.15 0.62 12/31/15 -0.5 3.9 14,732 11.8 0.8 3.5 7.3 1.15 0.67 03/31/16 -1.6 3.6 15,126 12.3 0.9 3.4 6.7 1.16 0.68 06/30/16 -2.0 3.3 15,892 12.2 0.8 3.3 6.4 1.17 0.68 09/30/16 -2.8 3.1 17,823 13.6 0.9 3.0 6.2 1.13 0.68 12/31/16 -2.6 4.2 18,901 14.4 0.9 3.0 6.0 1.09 0.68 03/31/17 -2.2 4.2 19,461 13.6 1.0 2.9 6.6 1.05 0.68 06/30/17 0.5 5.7 18,677 13.7 1.0 2.9 8.1 1.04 0.66 09/30/17 0.2 6.0 20,843 13.7 1.0 2.9 8.1 1.02 0.66 12/31/17 -0.3 5.9 22,733 14.7 1.1 2.7 7.9 0.99 0.65 03/31/18 1.1 6.3 25,603 14.1 1.1 3.9 8.1 0.99 0.64
MSCI EM Index (N) 11.9 14.1 92,076 17.9 1.8 2.7 15.7 1.00 0.55
Characteristics represent 100% of portfolio's market value. 6 Chatham University Intl Equity Return Analysis DFA Emerging Markets Value Quarter Ended 3/31/18
Index Intl Net Management Effect Local Index Index Total Equity Currency Country Country Quarter Currency Currency US $ Return Return Timing Hedging Currency Market Sector Stock Trading Total 06/13 -4.43 -3.65 -8.08 -10.25 -10.25 0.00 0.00 -0.02 0.59 -1.54 -1.37 0.17 -2.17 09/13 6.01 -0.25 5.77 7.14 7.14 0.00 0.00 -0.09 -1.06 0.99 1.03 0.49 1.38 12/13 3.01 -1.18 1.83 1.00 1.00 0.00 0.00 -0.04 0.09 -0.74 -0.21 0.07 -0.83
03/14 -0.35 -0.08 -0.43 -0.69 -0.69 0.00 0.00 0.02 0.24 -0.81 0.37 -0.08 -0.26 06/14 5.65 0.95 6.59 7.47 7.47 0.00 0.00 -0.07 0.24 -0.03 0.84 -0.11 0.88 09/14 0.94 -4.44 -3.50 -4.39 -4.39 0.00 0.00 0.23 -0.04 -0.52 -0.27 -0.30 -0.90 12/14 0.67 -5.17 -4.50 -6.33 -6.33 0.00 0.00 0.27 0.18 -1.14 -0.78 -0.36 -1.82 2014 6.98 -9.17 -2.19 -4.41 -4.41 0.00 0.00 0.46 0.62 -2.47 0.15 -0.98 -2.23 03/15 5.13 -2.89 2.24 -0.19 -0.19 0.00 0.00 0.15 -0.31 -1.02 -1.28 0.02 -2.43 06/15 1.01 -0.32 0.69 1.71 1.71 0.00 0.00 -0.19 -0.54 1.40 -0.23 0.57 1.02 09/15 -11.69 -6.21 -17.89 -19.17 -20.04 0.87 0.00 -0.69 1.38 -1.29 -0.71 -0.83 -1.27 12/15 1.84 -1.18 0.66 -1.01 -1.01 0.00 0.00 0.16 -0.17 -0.54 -0.24 -0.89 -1.67 2015 -4.49 -10.42 -14.92 -18.78 -19.65 0.87 0.00 -0.57 0.34 -1.45 -2.43 -0.62 -3.86 03/16 3.22 2.50 5.71 8.90 8.90 0.00 0.00 0.43 0.75 0.23 0.85 0.91 3.18 06/16 1.79 -1.13 0.66 1.28 1.28 0.00 0.00 -0.08 -0.51 -0.70 0.43 1.48 0.62 09/16 7.24 1.79 9.03 9.71 9.71 0.00 0.00 0.02 -0.78 1.32 0.61 -0.48 0.69 12/16 -0.64 -3.52 -4.16 -0.97 -0.97 0.00 0.00 -0.53 0.18 1.92 1.21 0.42 3.20 2016 11.94 -0.76 11.18 19.84 19.84 0.00 0.00 -0.16 -0.36 2.78 3.14 3.26 8.66 03/17 7.05 4.39 11.44 14.20 14.20 0.00 0.00 0.60 0.47 -0.31 1.82 0.17 2.75 06/17 6.07 0.20 6.27 2.82 2.82 0.00 0.00 0.18 0.02 -1.83 -1.05 -0.77 -3.45 09/17 7.70 0.19 7.89 5.55 5.55 0.00 0.00 -0.03 -1.54 -0.14 -0.50 -0.13 -2.34 12/17 6.82 0.62 7.43 7.92 7.92 0.00 0.00 0.42 -1.03 0.69 0.40 0.01 0.49 2017 30.62 6.65 37.28 33.76 33.76 0.00 0.00 1.18 -2.07 -1.61 0.64 -1.67 -3.52 Index : MSCI EM Index (N) 7 Chatham University Intl Equity Return Analysis DFA Emerging Markets Value Quarter Ended 3/31/18
Index Intl Net Management Effect Local Index Index Total Equity Currency Country Country Quarter Currency Currency US $ Return Return Timing Hedging Currency Market Sector Stock Trading Total 03/18 0.70 0.72 1.42 2.24 2.24 0.00 0.00 0.21 -0.41 0.12 0.42 0.49 0.82
From Inception 9.44 -4.46 4.98 4.33 4.10 0.23 0.00 0.19 -0.46 -0.80 0.25 -0.07 -0.66 Avg Up Markets 4.52 0.32 4.83 4.91 4.91 0.00 0.00 0.08 Avg Down Markets -2.58 -3.85 -6.43 -6.97 -7.11 0.14 0.00 -0.54 Index : MSCI EM Index (N) 8 Chatham University Equity Sector Attribution Analysis DFA Emerging Markets Value Quarter Ended 3/31/18
Portfolio MSCI EM Index (N) Selection Sector Mkt Val % Return Mkt Val % Return Stock Sector Total Energy 13.56 9.81 6.77 7.59 0.30 0.42 0.72 Real Estate 3.94 6.87 2.82 -2.06 0.35 -0.04 0.31 Consumer Discretionary 9.02 -4.91 10.22 -6.10 0.11 0.09 0.20 Consumer Staples 3.27 -1.61 6.55 -0.74 -0.03 0.07 0.04 Industrials 9.05 0.37 5.33 -0.87 0.11 -0.09 0.03 Materials 18.38 0.71 7.41 0.79 -0.01 -0.07 -0.09 Telecom Services 2.97 -10.41 4.84 -3.62 -0.20 0.09 -0.11 Utilities 1.59 -4.56 2.36 3.28 -0.12 -0.01 -0.14 Health Care 0.45 -4.53 2.66 7.05 -0.05 -0.12 -0.18 Financials 28.94 2.66 23.37 4.21 -0.45 0.15 -0.30 Information Technology 8.83 0.03 27.67 2.06 -0.18 -0.12 -0.30 Quarter Total 100.00 1.64 100.00 1.44 -0.18 0.38 0.20
Stock Selection Return Attribution = [ Portfolio Market Value Sector Percent ] x [ Portfolio Sector Return - Index Sector Return]
Sector Selection Return Attribution = [ Portfolio Sector Percent - Index Sector Percent ] x [ Index Sector Return - Index Total Return ]
Trading Effect 0.61% = [ Actual Return 2.24% ] - [ Buy Hold Return 1.64% ]
9 Chatham University Equity Summary Statistics DFA Emerging Markets Value Quarter Ended 3/31/18
10 Largest Holdings 10 Best Performers Name %Port $(000) Name %Port %Return China Construction B 2.4 36 Feelux Co 0.0 542.85 Reliance Industries 2.3 35 Pabrik Kertas Tjiwi 0.0 132.87 Industrial & Commerc 2.2 33 Shinsegae I & C Comp 0.0 117.57 Vale S.A. 1.7 25 Indah Kiat Pulp & Pa 0.2 100.74 Standard Bank Group 1.6 24 Daewoo Shipbuilding& 0.0 99.43 Vale S A 1.4 21 Sambo Motors Co Ltd 0.0 95.89 Ptt Public Company 1.3 20 Unipar Carbocloro Sa 0.0 81.73 Petroleo Brasileiro 1.2 17 Asia Paper Manufactu 0.0 79.35 Bank of China Ltd 1.1 16 Suzano Papel E Celul 0.2 78.14 Hyundai Motor Co 1.0 16 Plotech Co Ltd 0.0 75.61
Portfolio Characteristic Distribution (%) 10 Worst Performers Quartile Mkt. Cap P/E Yield Name %Port %Return 1st 48.5 14.5 30.9 Shanghai Dasheng Agr 0.0 -66.54 2nd 12.9 20.3 28.7 Bombay Rayon Fashion 0.0 -65.94 3rd 11.5 34.4 17.3 Jaypee Infratech Ltd 0.0 -65.46 4th 27.1 30.9 23.1 Jbf Industries 0.0 -63.37 MSCI EM Index (N) Scomi Group Berhad 0.0 -59.50 Dalmia Bharat Sugar 0.0 -52.36 25th Percentile 11,635,236 27.9 4.0 Parsvnath Developers 0.0 -51.96 50th Percentile 5,857,922 15.9 2.4 Brasil Brokers Parti 0.0 -49.59 75th Percentile 3,276,166 10.1 1.2 China Envir Tech & B 0.0 -49.51 Gafisa S A 0.0 -47.91
10 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Bermuda Cgn New Energy Holdi UTL 960 975 0.141 0.135 0 0 0.0 0.0 -4.02 China Yurun Food Gro CST 489 402 0.104 0.134 0 0 0.0 0.0 29.12 Citic Dameng Holding MAT 242 330 0.061 0.052 0 0 0.0 0.0 -15.07 Gome Retail Holdings CDI 6,008 6,103 0.120 0.108 1 1 0.0 0.0 -9.93 Labixiaoxin Snacks G CST 163 165 0.060 0.074 0 0 0.0 0.0 22.92 Munsun Capital Gp Lt MAT 0 1,693 0.008 0.005 0 0 0.0 0.0 NA Nine Dragons Paper H MAT 310 417 1.602 1.496 0 1 0.0 0.0 -6.60 Pou Sheng Intl (Hold CDI 166 212 0.145 0.254 0 0 0.0 0.0 75.41 Sino Harbour Holding RES 33 44 0.079 0.052 0 0 0.0 0.0 -34.94 Tpv Technology INF 676 687 0.136 0.124 0 0 0.0 0.0 -8.85 Yuanshengtai Dairy F CST 49 50 0.038 0.045 0 0 0.0 0.0 16.21 2 2 0.1 0.1 -5.54 Brazil Aliansce Shopping Ce RES 60 67 5.438 5.650 0 0 0.0 0.0 3.90 B2w Companhia Digita CDI 7 0 6.180 7.715 0 0 0.0 0.0 24.83 B3 Sa - Brasil Bols FIN 83 0 6.867 8.030 1 0 0.0 0.0 16.94 Banco Abc Brasil Sa FIN 106 102 5.129 5.461 1 1 0.0 0.0 9.88 Banco Alfa De Invest FIN 2 0 1.697 1.745 0 0 0.0 0.0 2.82 Banco Bradesco S A FIN 6 0 10.240 11.880 0 0 0.0 0.0 16.17 Banco Bradesco Sa FIN 8 0 10.205 11.885 0 0 0.0 0.0 16.64 Banco Bradesco Sa FIN 17 0 9.665 11.575 0 0 0.0 0.0 19.93 Banco Do Brasil Sa FIN 580 507 9.593 12.345 6 6 0.4 0.4 29.69
11 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Brazil (cont.) Banco Estado Rio Gra FIN 159 171 4.492 6.099 1 1 0.0 0.1 40.12 Banco Pan Sa FIN 134 138 0.564 0.575 0 0 0.0 0.0 1.94 Banco Pine Sa FIN 32 33 1.055 0.978 0 0 0.0 0.0 -7.32 Banco Santander Bras FIN 8 8 9.670 12.020 0 0 0.0 0.0 26.28 Banco Santander(Braz FIN 99 130 9.611 12.008 1 2 0.1 0.1 29.88 Brasil Brokers Parti RES 145 148 0.298 0.150 0 0 0.0 0.0 -49.59 Brasilagro - Cia Bra CST 6 7 3.774 3.911 0 0 0.0 0.0 3.63 Cia Brasileira Distr CST 101 105 23.795 20.023 2 2 0.2 0.1 -15.85 Cia Ferro Ligas Da B MAT 71 72 6.171 6.382 0 0 0.0 0.0 4.59 Companhia Siderurgic MAT 260 289 2.526 2.648 1 1 0.0 0.1 4.81 Construtora Tenda Sa CDI 23 29 6.029 7.928 0 0 0.0 0.0 31.49 Cosan Logistica Sa IND 3 3 2.798 3.024 0 0 0.0 0.0 8.09 Cosan S A Industria ENR 88 89 12.511 12.489 1 1 0.1 0.1 -0.17 Cyrela Brazil Realty CDI 275 280 3.985 4.600 1 1 0.1 0.1 15.43 Direcional Engenhari CDI 113 115 1.703 1.829 0 0 0.0 0.0 7.40 Duratex Sa MAT 318 332 2.774 3.565 1 1 0.1 0.1 28.55 Embraer S A IND 70 79 23.930 26.000 2 2 0.1 0.1 8.72 Embraer Sa IND 127 139 6.029 6.484 1 1 0.1 0.1 7.64 Eternit Sa MAT 49 50 0.277 0.256 0 0 0.0 0.0 -7.79 Eucatex Sa Ind & Com MAT 26 27 1.191 1.739 0 0 0.0 0.0 46.04 Even Construtora E I CDI 274 238 1.730 1.574 0 0 0.0 0.0 -9.06 Ez Tec Empreendiment CDI 77 85 6.527 6.944 1 1 0.0 0.0 6.40
12 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Brazil (cont.) Fibria Celulose S A MAT 161 154 14.700 19.500 2 3 0.2 0.2 32.65 Fibria Celulose Sa MAT 73 40 14.425 19.566 1 1 0.1 0.1 35.64 Fras-Le Sa CDI 0 1 1.616 1.694 0 0 0.0 0.0 NA Gafisa S A CDI 13 13 12.620 6.260 0 0 0.0 0.0 -47.91 Gerdau Sa MAT 133 126 3.126 3.957 0 0 0.0 0.0 26.84 Gerdau Sa MAT 704 715 3.720 4.660 3 3 0.2 0.2 25.46 Guararapes Confeccoe CDI 3 1 45.232 45.288 0 0 0.0 0.0 0.78 Helbor Empreendiment RES 209 227 0.591 0.451 0 0 0.0 0.0 -23.62 Industrias Romi Sa IND 0 1 2.321 2.976 0 0 0.0 0.0 NA International Meal C CDI 39 56 2.620 2.557 0 0 0.0 0.0 -2.38 Iochpe-Maxion Sa IND 119 125 6.934 7.874 1 1 0.1 0.1 14.80 Jbs Sa CST 931 946 2.957 2.813 3 3 0.2 0.2 -4.88 Jhsf Participacoes S RES 103 105 0.528 0.466 0 0 0.0 0.0 -11.60 Kepler Weber Sa IND 1 1 5.888 3.647 0 0 0.0 0.0 -38.06 Kroton Educacional S CDI 755 829 5.547 4.092 4 3 0.3 0.2 -25.74 Magnesita Refratario MAT 48 49 15.194 17.511 1 1 0.0 0.1 15.25 Marcopolo Sa IND 330 335 1.203 1.173 0 0 0.0 0.0 -1.96 Marfrig Global Foods CST 0 4 2.207 1.787 0 0 0.0 0.0 NA Marisa Lojas Sa CDI 1 5 2.186 1.986 0 0 0.0 0.0 -9.14 Mills Estruturas E S IND 47 48 1.242 0.975 0 0 0.0 0.0 -21.51 Mrv Engenharia E Par CDI 359 356 4.534 4.889 2 2 0.1 0.1 7.83 Paranapanema Sa MAT 126 128 0.479 0.448 0 0 0.0 0.0 -6.47
13 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Brazil (cont.) Petro Rio Sa ENR 1 2 24.660 17.752 0 0 0.0 0.0 -28.01 Petroleo Brasileiro ENR 1,320 1,340 9.830 12.990 13 17 0.9 1.2 32.15 Petroleo Brasileiro ENR 1,094 1,111 10.290 14.140 11 16 0.8 1.0 37.42 Petroleo Brasileiro ENR 464 472 5.098 7.029 2 3 0.2 0.2 37.87 Petroleo Brasileiro ENR 956 971 4.854 6.442 5 6 0.3 0.4 32.72 Porto Seguro Sa FIN 47 45 10.952 14.611 1 1 0.0 0.0 33.40 Profarma Distrib Pro HTH 4 7 2.149 1.808 0 0 0.0 0.0 -15.85 Qgep Participacoes S ENR 116 112 3.241 3.421 0 0 0.0 0.0 5.56 Randon Sa Implemento IND 208 212 2.162 2.597 0 1 0.0 0.0 20.13 Rni Negocios Imobili CDI 10 7 1.854 1.862 0 0 0.0 0.0 0.45 Santos Brasil Partic IND 91 93 1.022 1.062 0 0 0.0 0.0 3.93 Sao Carlos Empreendi RES 4 4 12.960 11.328 0 0 0.0 0.0 -12.59 Sao Martinho Sa CST 11 11 5.818 5.274 0 0 0.0 0.0 -9.35 Slc Agricola Sa CST 68 69 8.040 10.395 1 1 0.0 0.0 29.29 Springs Global Parti CDI 4 5 3.259 3.328 0 0 0.0 0.0 2.11 Sul America Sa FIN 166 176 5.625 6.604 1 1 0.1 0.1 19.70 Suzano Papel E Celul MAT 444 364 5.634 10.037 3 4 0.2 0.2 78.14 Technos Sa CDI 3 7 1.070 0.842 0 0 0.0 0.0 -21.28 Tecnisa Sa CDI 180 167 0.621 0.466 0 0 0.0 0.0 -24.90 Tpi Triunfo Particip IND 40 40 1.013 0.701 0 0 0.0 0.0 -30.79 Tupy Sa CDI 31 38 5.502 5.106 0 0 0.0 0.0 -5.33 Unipar Carbocloro Sa MAT 69 70 4.778 8.683 0 1 0.0 0.0 81.73
14 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Brazil (cont.) Usinas Sid Minas Ger MAT 40 40 3.265 3.704 0 0 0.0 0.0 13.44 Usinas Sid Minas Ger MAT 482 491 2.743 3.286 1 2 0.1 0.1 19.77 Vale S A MAT 1,652 1,636 12.230 12.720 20 21 1.4 1.4 4.98 Vale S.A. MAT 2,005 1,995 12.137 12.700 24 25 1.6 1.7 5.83 Valid Solu E Servico IND 3 13 5.589 5.476 0 0 0.0 0.0 -2.03 Via Varejo Sa CDI 7 5 2.391 2.452 0 0 0.0 0.0 2.57 121 139 8.2 9.2 16.57 Cayman Islands 361 Degrees Internat CDI 461 416 0.345 0.322 0 0 0.0 0.0 -6.67 A8 New Media Group INF 74 75 0.061 0.060 0 0 0.0 0.0 -2.47 Agile Group Holding RES 1,176 1,195 1.517 2.067 2 2 0.1 0.2 36.22 Airmate Cayman Intl CDI 2 2 0.806 0.840 0 0 0.0 0.0 4.19 Ajisen(China)hldgs L CDI 103 107 0.476 0.471 0 0 0.0 0.0 -0.93 Alchip Technologies INF 8 8 3.041 4.099 0 0 0.0 0.0 34.77 Amvig Holdings Limit MAT 396 396 0.267 0.274 0 0 0.0 0.0 2.46 Anton Oilfield Servi ENR 598 664 0.110 0.124 0 0 0.0 0.0 12.35 Apex International C INF 81 91 0.675 0.648 0 0 0.0 0.0 -4.03 Asia Cement China Ho MAT 489 456 0.351 0.441 0 0 0.0 0.0 25.78 Asia Plastic Recycli MAT 208 216 0.422 0.379 0 0 0.0 0.0 -10.14 Boer Power Holdings IND 83 85 0.191 0.199 0 0 0.0 0.0 4.28 Bosideng Internation CDI 963 978 0.087 0.098 0 0 0.0 0.0 12.79 Boyaa Interactive In INF 124 132 0.414 0.387 0 0 0.0 0.0 -6.54
15 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Cayman Islands (cont.) Cabbeen Fashion Limi CDI 42 50 0.289 0.279 0 0 0.0 0.0 -3.48 Capital Environmenta IND 455 531 0.045 0.036 0 0 0.0 0.0 -21.44 Casetek Holdings Ltd INF 132 159 3.428 2.963 0 0 0.0 0.0 -13.55 Central China Real E RES 495 512 0.468 0.459 0 0 0.0 0.0 -2.03 Century Sunshine Gro MAT 1,106 1,124 0.028 0.032 0 0 0.0 0.0 14.75 Changshouhua Food Co CST 7 7 0.477 0.460 0 0 0.0 0.0 -3.60 Chaowei Power Hldgs CDI 308 320 0.610 0.540 0 0 0.0 0.0 -11.46 Chigo Holding Limite CDI 2,401 2,439 0.016 0.013 0 0 0.0 0.0 -20.00 China Aircraft Leasi IND 0 4 1.045 1.054 0 0 0.0 0.0 NA China Aoyuan Propert RES 779 791 0.549 0.919 0 1 0.0 0.0 67.40 China Dongxiang (Gro CDI 1,248 1,321 0.185 0.175 0 0 0.0 0.0 -5.89 China Electronics Op RES 127 140 0.096 0.087 0 0 0.0 0.0 -9.69 China Envir Tech & B CDI 52 52 0.037 0.019 0 0 0.0 0.0 -49.51 China Great Star Inc CDI 11 0 0.888 0.727 0 0 0.0 0.0 -18.15 China Greenfresh Gro CST 144 151 0.175 0.158 0 0 0.0 0.0 -9.85 China Harmony New En CDI 337 342 0.729 0.641 0 0 0.0 0.0 -12.10 China High Speed Tra IND 141 144 1.727 1.572 0 0 0.0 0.0 -8.95 China Huiyuan Juice CST 452 396 0.276 0.257 0 0 0.0 0.0 -6.85 China Its (Hldgs)co INF 411 417 0.067 0.052 0 0 0.0 0.0 -21.47 China Lesso Group Ho IND 264 317 0.647 0.761 0 0 0.0 0.0 17.52 China Merchants Land RES 938 885 0.184 0.210 0 0 0.0 0.0 14.13 China Properties Gro RES 390 396 0.216 0.194 0 0 0.0 0.0 -10.41
16 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Cayman Islands (cont.) China Resources Ceme MAT 1,260 1,363 0.658 0.864 1 1 0.1 0.1 31.39 China Rundong Auto G CDI 2 2 0.436 0.385 0 0 0.0 0.0 -11.79 China Saite Group Co IND 156 158 0.072 0.071 0 0 0.0 0.0 -0.39 China Sanjiang Fine MAT 234 247 0.382 0.409 0 0 0.0 0.0 6.93 China Sce Property H RES 992 1,008 0.431 0.517 0 1 0.0 0.0 20.00 China Shengmu Organi CST 41 41 0.161 0.136 0 0 0.0 0.0 -15.41 China Shineway Pharm HTH 70 75 0.933 1.524 0 0 0.0 0.0 63.41 China Silver Group L MAT 152 259 0.306 0.219 0 0 0.0 0.0 -28.32 China Sunshine Paper MAT 56 75 0.257 0.303 0 0 0.0 0.0 17.94 China Zhongwang Hldg MAT 1,230 1,218 0.548 0.594 1 1 0.0 0.0 8.45 Chu Kong Petroleum&N ENR 89 90 0.111 0.112 0 0 0.0 0.0 0.75 Cifi Holdings Group RES 8 0 0.603 0.873 0 0 0.0 0.0 44.86 Cimc Enric Holdings IND 33 0 0.840 0.958 0 0 0.0 0.0 14.01 Coland Holdings Ltd HTH 9 9 1.163 1.571 0 0 0.0 0.0 35.10 Comba Telecom System INF 856 950 0.192 0.134 0 0 0.0 0.0 -30.28 Coolpad Group Ltd INF 428 0 0.092 NA 0 0 0.0 0.0 NA Csmall Group Ltd CDI 0 4 NA 0.299 0 0 0.0 0.0 NA Dachan Food(Asia)ltd CST 239 243 0.072 0.065 0 0 0.0 0.0 -9.29 Daphne International CDI 211 214 0.062 0.061 0 0 0.0 0.0 -2.45 Dongyue Group Limite MAT 327 322 0.698 0.965 0 0 0.0 0.0 38.10 Ehi Car Svcs Ltd IND 1 1 11.570 12.450 0 0 0.0 0.0 7.61 Embry Holdings Ltd CDI 40 41 0.304 0.364 0 0 0.0 0.0 19.69
17 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Cayman Islands (cont.) Eson Precision Ind C INF 24 25 1.524 1.276 0 0 0.0 0.0 -16.28 Eva Precision Indust IND 422 446 0.157 0.153 0 0 0.0 0.0 -2.82 Evergreen Intl Hldgs CDI 104 79 0.088 0.080 0 0 0.0 0.0 -9.06 Fantasia Holdings Gr RES 1,615 1,466 0.137 0.194 0 0 0.0 0.0 41.49 Fufeng Group Ltd MAT 527 574 0.652 0.592 0 0 0.0 0.0 -9.18 Fulgent Sun Internat CDI 3 3 2.386 2.332 0 0 0.0 0.0 -2.25 Future Land Developm RES 619 340 0.627 0.847 0 0 0.0 0.0 35.18 Gcl-Poly Energy Hold INF 6,288 6,388 0.179 0.124 1 1 0.1 0.1 -30.99 Global Lighting Tech INF 78 80 1.517 1.327 0 0 0.0 0.0 -12.52 Glorious Property Ho RES 2,111 2,104 0.096 0.088 0 0 0.0 0.0 -8.36 Grand Ocean Retail G CDI 27 28 0.768 0.785 0 0 0.0 0.0 2.29 Green Seal Holding L MAT 58 65 2.174 1.667 0 0 0.0 0.0 -23.33 Greenland Hong Kong RES 451 480 0.398 0.479 0 0 0.0 0.0 20.42 Greentown China Hold RES 438 445 1.287 1.353 1 1 0.0 0.0 5.15 Guorui Properties Li RES 7 7 0.298 0.264 0 0 0.0 0.0 -11.51 Hc International INF 0 14 0.733 0.725 0 0 0.0 0.0 NA Hengdeli Holdings Li CDI 1,438 1,270 0.048 0.048 0 0 0.0 0.0 -0.40 Hilong Holding Limit ENR 474 482 0.145 0.152 0 0 0.0 0.0 4.89 Hiroca Holdings Ltd CDI 63 67 3.848 3.704 0 0 0.0 0.0 -3.73 Honghua Group Ltd ENR 209 212 0.086 0.104 0 0 0.0 0.0 21.90 Honworld Group Limit CST 22 26 0.523 0.454 0 0 0.0 0.0 -13.30 Hopefluent Group Hld RES 116 118 0.439 0.479 0 0 0.0 0.0 9.19
18 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Cayman Islands (cont.) Hydoo International RES 83 85 0.107 0.080 0 0 0.0 0.0 -25.30 Jiangnan Group Limit IND 870 968 0.068 0.062 0 0 0.0 0.0 -8.85 Jinkosolar Hldg Co L INF 16 18 24.050 18.250 0 0 0.0 0.0 -24.12 Jinli Group Holdings CDI 99 107 0.801 0.737 0 0 0.0 0.0 -7.99 Ju Teng Internationa INF 700 682 0.326 0.247 0 0 0.0 0.0 -24.22 Kaisa Group Holdings RES 388 394 0.564 0.562 0 0 0.0 0.0 -0.40 Kangda Intl Environm UTL 367 397 0.212 0.187 0 0 0.0 0.0 -11.80 Kasen International CDI 135 137 0.168 0.233 0 0 0.0 0.0 39.14 Kwg Property Hldgs L RES 886 849 1.168 1.363 1 1 0.1 0.1 16.73 L.K. Technology Hold IND 18 54 0.159 0.196 0 0 0.0 0.0 23.70 Lai Fung Hldgs RES 79 82 1.676 1.605 0 0 0.0 0.0 -4.20 Leoch International IND 158 174 0.182 0.161 0 0 0.0 0.0 -11.62 Logan Property Hldgs RES 40 0 1.034 1.521 0 0 0.0 0.0 47.19 Lonking Holdings Ltd IND 995 1,011 0.439 0.426 0 0 0.0 0.0 -3.01 Mie Holdings Corp ENR 355 286 0.072 0.052 0 0 0.0 0.0 -27.07 Modern Land (China) RES 151 171 0.215 0.200 0 0 0.0 0.0 -6.92 Nature Home Holding IND 12 12 0.133 0.130 0 0 0.0 0.0 -2.31 New World Department CDI 301 305 0.212 0.231 0 0 0.0 0.0 8.61 Nvc Lighting Holding CST 254 335 0.098 0.113 0 0 0.0 0.0 15.13 Ourgame Internationa INF 25 25 0.334 0.264 0 0 0.0 0.0 -21.00 Overseas Chinese Tow RES 64 71 0.411 0.570 0 0 0.0 0.0 38.70 Phoenix New Media Lt INF 1 1 6.490 4.350 0 0 0.0 0.0 -32.97
19 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Cayman Islands (cont.) Powerlong Real Estat RES 959 974 0.485 0.526 0 1 0.0 0.0 8.54 Pw Medtech Group Lim HTH 75 76 0.182 0.164 0 0 0.0 0.0 -9.51 Real Nutriceutical CST 169 45 0.036 0.029 0 0 0.0 0.0 -17.83 Renhe Commercial Hol RES 3,288 3,340 0.028 0.019 0 0 0.0 0.0 -31.35 Ronshine China Holdi RES 65 88 1.113 1.458 0 0 0.0 0.0 30.97 Rotam Global Agrosci MAT 31 32 0.909 0.952 0 0 0.0 0.0 4.70 Sany Heavy Equipment IND 372 378 0.219 0.291 0 0 0.0 0.0 44.19 Semiconductor Manufa INF 1,446 1,469 1.729 1.307 3 2 0.2 0.1 -24.41 Semiconductor Mfg In INF 84 85 8.560 6.600 1 1 0.0 0.0 -22.90 Shenguan Holdings (G CST 270 275 0.047 0.061 0 0 0.0 0.0 27.87 Shimao Property Hold RES 908 876 2.175 2.829 2 2 0.1 0.2 30.07 Shui On Land Limited RES 2,651 2,693 0.276 0.271 1 1 0.0 0.0 -1.78 Shunfeng Intl Clean INF 964 979 0.054 0.038 0 0 0.0 0.0 -28.85 Soho China Limited RES 1,474 1,544 0.585 0.524 1 1 0.1 0.1 -10.42 Springland Internati CST 161 164 0.243 0.240 0 0 0.0 0.0 -1.44 Starrise Media Holdi CDI 21 22 0.101 0.084 0 0 0.0 0.0 -16.79 Tenwow International CST 194 221 0.234 0.163 0 0 0.0 0.0 -30.33 Texhong Textile Grou CDI 32 38 1.297 1.402 0 0 0.0 0.0 8.05 Tiangong Internation MAT 0 55 0.150 0.173 0 0 0.0 0.0 NA Tianjin Port Develop IND 1,570 1,543 0.147 0.139 0 0 0.0 0.0 -5.59 Top Spring Intl Hldg RES 8 8 0.535 0.419 0 0 0.0 0.0 -21.60 Trigiant Group Ltd INF 152 177 0.136 0.150 0 0 0.0 0.0 10.88
20 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Cayman Islands (cont.) Victory New Matls Lt MAT 56 57 1.544 1.574 0 0 0.0 0.0 1.95 Wisdom Sports Group CDI 33 33 0.101 0.101 0 0 0.0 0.0 -0.39 Wuzhou International RES 37 38 0.111 0.098 0 0 0.0 0.0 -11.84 Xingda International CDI 733 707 0.354 0.338 0 0 0.0 0.0 -4.71 Xingfa Aluminium Hol MAT 33 33 0.689 0.800 0 0 0.0 0.0 16.05 Xinyuan Real Estate RES 2 4 6.810 5.280 0 0 0.0 0.0 -21.20 Xtep International H CDI 141 159 0.390 0.556 0 0 0.0 0.0 42.39 Yeong Guan Energy Te MAT 76 79 2.144 3.245 0 0 0.0 0.0 51.33 Youyuan Internationa MAT 253 257 0.432 0.405 0 0 0.0 0.0 -6.29 Yuzhou Properties Co RES 1,159 1,126 0.533 0.682 1 1 0.0 0.1 27.79 Zhen Ding Technology INF 237 241 2.201 2.363 1 1 0.0 0.0 7.36 Zhong An Real Estate RES 1,256 1,701 0.118 0.073 0 0 0.0 0.0 -38.29 25 26 1.7 1.7 4.76 Chile Besalco Sa IND 38 39 1.183 1.155 0 0 0.0 0.0 -2.32 Cap Sa MAT 65 89 12.781 11.358 1 1 0.1 0.1 -11.14 Cementos Bio-Bio MAT 50 51 1.398 1.524 0 0 0.0 0.0 10.22 Cencosud Sa CST 827 980 2.954 3.062 2 3 0.2 0.2 3.64 Compania Pesquera Ca CST 0 31 0.079 0.099 0 0 0.0 0.0 NA Compania Sud America IND 6,599 6,704 0.054 0.043 0 0 0.0 0.0 -19.48 Cristalerias Chile MAT 20 20 10.594 10.604 0 0 0.0 0.0 0.86 Empresas Aquachile S CST 0 11 0.528 0.580 0 0 0.0 0.0 NA
21 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Chile (cont.) Empresas Cmpc MAT 1,115 1,071 3.400 3.810 4 4 0.3 0.3 12.03 Empresas Copec Sa ENR 218 211 15.798 15.707 3 3 0.2 0.2 -0.58 Empresas Hites S A CDI 140 143 1.008 1.032 0 0 0.0 0.0 2.43 Empresas La Polar S. CDI 497 914 0.098 0.083 0 0 0.0 0.0 -15.62 Enel Americas Sa UTL 818 1,078 0.223 0.234 0 0 0.0 0.0 5.28 Enersis Chile Sa UTL 289 280 5.680 6.400 2 2 0.1 0.1 13.79 Enersis S A UTL 288 295 11.170 11.620 3 3 0.2 0.2 4.47 Entel Telecomunicati TEL 12 21 11.242 11.479 0 0 0.0 0.0 2.11 Group Security Sa FIN 127 147 0.455 0.505 0 0 0.0 0.0 10.95 Inversiones Aguas UTL 358 361 1.899 1.841 1 1 0.0 0.0 -1.30 Itau Corpbanca FIN 51,970 58,649 0.009 0.010 0 1 0.0 0.0 6.41 Latam Airlines Group IND 155 144 14.176 15.549 2 2 0.1 0.1 9.68 Latam Airls Group S IND 89 79 13.900 15.390 1 1 0.1 0.1 10.72 Masisa S.A. MAT 3,220 3,271 0.076 0.088 0 0 0.0 0.0 16.32 Paz Corp Sa RES 164 167 1.675 1.524 0 0 0.0 0.0 -8.99 Ripley Corp Sa CDI 928 938 1.087 1.032 1 1 0.1 0.1 -5.07 Salfacorp Sa IND 252 290 1.846 1.899 0 1 0.0 0.0 2.88 Sigdo Koppers S.A. IND 7 10 2.072 1.972 0 0 0.0 0.0 -4.82 Sociedad Matriz Saam IND 4,009 4,130 0.107 0.102 0 0 0.0 0.0 -4.60 Socovesa Sa CDI 441 448 0.650 0.636 0 0 0.0 0.0 -2.18 Vina Concha Y Toro CST 67 112 1.894 2.163 0 0 0.0 0.0 14.56 24 26 1.6 1.7 4.54
22 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return China Agricultural Bank Of FIN 10,330 10,494 0.466 0.568 5 6 0.3 0.4 22.04 Air China Ltd IND 304 0 1.213 1.274 0 0 0.0 0.0 5.07 Angang Steel Co MAT 407 434 0.915 0.956 0 0 0.0 0.0 4.48 Anhui Conch Cement MAT 65 0 4.701 5.447 0 0 0.0 0.0 15.87 Avic International H INF 240 244 1.028 0.682 0 0 0.0 0.0 -33.72 Avichina Industry & IND 64 156 0.532 0.705 0 0 0.0 0.0 32.41 Baic Motor Corporati CDI 593 603 1.302 1.226 1 1 0.1 0.0 -5.87 Bank of China Ltd FIN 31,383 30,286 0.491 0.538 15 16 1.0 1.1 9.46 Bank of Chongqing Co FIN 176 210 0.796 0.777 0 0 0.0 0.0 -2.32 Bank of Communicatio FIN 2,754 2,658 0.742 0.784 2 2 0.1 0.1 5.62 Baoye Group Company IND 205 196 0.701 0.641 0 0 0.0 0.0 -8.57 Bbmg Corporation MAT 926 965 0.454 0.451 0 0 0.0 0.0 -0.68 Beijing Capital Land RES 687 698 0.519 0.609 0 0 0.0 0.0 17.27 Beijing North Star C RES 244 248 0.365 0.345 0 0 0.0 0.0 -5.29 Car Inc IND 31 62 0.876 0.900 0 0 0.0 0.0 2.66 Carrianna Group Hold CDI 290 295 0.116 0.148 0 0 0.0 0.0 26.97 China Bluechemical L MAT 980 1,055 0.316 0.280 0 0 0.0 0.0 -11.28 China Cinda Asset Ma FIN 3,797 3,857 0.366 0.363 1 1 0.1 0.1 -0.74 China Citic Bank Cor FIN 2,828 2,729 0.627 0.683 2 2 0.1 0.1 8.96 China Coal Energy Co ENR 890 904 0.452 0.400 0 0 0.0 0.0 -11.40 China Communications IND 1,763 2,062 1.136 1.027 2 2 0.1 0.1 -9.59 China Communications TEL 1,571 1,596 0.670 0.598 1 1 0.1 0.1 -10.85
23 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return China (cont.) China Construction B FIN 40,383 35,297 0.921 1.027 37 36 2.5 2.4 11.50 China Everbright Ban FIN 1,338 1,193 0.467 0.480 1 1 0.0 0.0 2.88 China Foods Ltd CST 180 183 0.585 0.460 0 0 0.0 0.0 -21.32 China Galaxy Securit FIN 104 184 0.737 0.665 0 0 0.0 0.0 -9.73 China Hongqiao Group MAT 784 797 1.119 1.092 1 1 0.1 0.1 1.99 China Huarong Asset FIN 1,892 2,325 0.472 0.420 1 1 0.1 0.1 -10.92 China Intl Capital C FIN 137 139 2.080 2.006 0 0 0.0 0.0 -3.58 China Intl Marine Co IND 32 37 1.932 1.560 0 0 0.0 0.0 -19.26 China Machinery Engi IND 138 219 0.649 0.530 0 0 0.0 0.0 -18.27 China Merchants Bank FIN 79 0 3.978 4.096 0 0 0.0 0.0 2.97 China Minsheng Banki FIN 1,728 1,755 1.002 0.972 2 2 0.1 0.1 -2.94 China Mobile Ltd TEL 621 1,076 10.138 9.168 6 10 0.4 0.7 -9.57 China National Build MAT 2,357 2,161 0.894 1.086 2 2 0.1 0.2 21.41 China National Mater MAT 1,014 1,030 0.747 0.912 1 1 0.1 0.1 22.12 China New Town Devel RES 876 890 0.040 0.036 0 0 0.0 0.0 -8.43 China Oilfield Servi ENR 642 652 0.973 1.031 1 1 0.0 0.0 5.89 China Pete & Chem Co ENR 87 88 73.370 88.480 6 8 0.4 0.5 20.59 China Petroleum & Ch ENR 8,491 8,625 0.733 0.878 6 8 0.4 0.5 19.77 China Railway Constr IND 1,365 1,433 1.159 1.001 2 1 0.1 0.1 -13.59 China Railway Group IND 1,226 1,591 0.739 0.693 1 1 0.1 0.1 -6.25 China Reinsurance (G FIN 1,151 1,238 0.228 0.208 0 0 0.0 0.0 -8.79 China Shenhua Energy ENR 1,854 1,884 2.590 2.485 5 5 0.3 0.3 -4.08
24 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return China (cont.) China Singyes Solar IND 431 392 0.434 0.366 0 0 0.0 0.0 -15.67 China South City Hol RES 2,043 2,076 0.262 0.226 1 0 0.0 0.0 -14.00 China Starch Holding CST 1,973 1,873 0.039 0.039 0 0 0.0 0.0 1.24 China Zhengtong Auto CDI 473 481 1.012 0.726 0 0 0.0 0.0 -28.22 Chongqing Machinery IND 879 840 0.105 0.098 0 0 0.0 0.0 -6.47 Chongqing Rural Comm FIN 1,589 1,689 0.706 0.766 1 1 0.1 0.1 8.45 Citic Securities Co FIN 233 48 2.062 2.288 0 0 0.0 0.0 10.97 Cnooc Limited ENR 5,181 6,760 1.435 1.473 7 10 0.5 0.7 2.62 Cosco Shipping Engy IND 308 367 0.546 0.515 0 0 0.0 0.0 -5.76 Crcc High Tech Equip IND 127 159 0.242 0.205 0 0 0.0 0.0 -15.15 Dongfang Electric Co IND 35 36 0.820 0.779 0 0 0.0 0.0 -5.06 Dongfeng Motor Group CDI 1,081 1,098 1.210 1.161 1 1 0.1 0.1 -4.08 Dynagreen Environmen IND 0 21 0.576 0.501 0 0 0.0 0.0 NA Everbright Securitie FIN 40 44 1.247 1.159 0 0 0.0 0.0 -7.04 Far East Horizon Lim FIN 82 106 0.853 1.058 0 0 0.0 0.0 23.95 Gf Securities Co Ltd FIN 0 15 2.011 1.837 0 0 0.0 0.0 NA Grand Baoxin Auto Gr CDI 25 86 0.500 0.419 0 0 0.0 0.0 -16.19 Guangdong Yueyun Tra IND 7 14 0.649 0.613 0 0 0.0 0.0 -5.50 Guangshen Ry Ltd IND 28 28 33.500 29.500 1 1 0.1 0.1 -11.94 Guangzhou R&F Proper RES 712 687 2.254 2.495 2 2 0.1 0.1 10.68 Guodian Tech & Env G IND 358 363 0.068 0.064 0 0 0.0 0.0 -6.03 Guolian Securities C FIN 13 13 0.484 0.398 0 0 0.0 0.0 -17.79
25 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return China (cont.) Guotai Junan Securit FIN 0 1 2.226 2.171 0 0 0.0 0.0 NA Haitong Securities C FIN 471 694 1.451 1.323 1 1 0.0 0.1 -8.83 Harbin Bank Co Ltd FIN 84 98 0.311 0.285 0 0 0.0 0.0 -8.18 Harbin Electric Co L IND 479 434 0.418 0.350 0 0 0.0 0.0 -16.23 Hna Infrastructure C IND 110 104 0.986 1.070 0 0 0.0 0.0 8.52 Hopson Development H RES 601 559 0.980 1.142 1 1 0.0 0.0 16.51 Huaneng Renewables C UTL 2,470 2,510 0.339 0.373 1 1 0.1 0.1 10.13 Huatai Securities Co FIN 0 19 1.990 1.924 0 0 0.0 0.0 NA Huishang Bank Corpor FIN 87 93 0.548 0.492 0 0 0.0 0.0 -10.17 Industrial & Commerc FIN 37,945 38,547 0.805 0.858 31 33 2.1 2.2 6.57 Inner Mongolia Yitai ENR 1 1 1.165 1.223 0 0 0.0 0.0 4.96 Jiangxi Copper Co MAT 490 535 1.586 1.427 1 1 0.1 0.1 -10.03 Joy City Property Li RES 327 396 0.161 0.161 0 0 0.0 0.0 -0.40 Legend Holdings Corp INF 61 62 4.592 3.306 0 0 0.0 0.0 -28.00 Lianhua Supermarket CST 23 24 0.363 0.305 0 0 0.0 0.0 -16.18 Longfor Properties C RES 732 743 2.505 3.058 2 2 0.1 0.2 22.09 Maanshan Iron & Stee MAT 243 525 0.472 0.428 0 0 0.0 0.0 -9.30 Maoye International CDI 864 833 0.102 0.112 0 0 0.0 0.0 9.57 Metallurgical Corp O IND 73 164 0.294 0.285 0 0 0.0 0.0 -2.99 Minmetals Land Limit RES 985 906 0.168 0.185 0 0 0.0 0.0 10.25 Mobi Development Co INF 28 29 0.191 0.134 0 0 0.0 0.0 -29.81 People''s Insurance FIN 2,714 2,757 0.492 0.468 1 1 0.1 0.1 -5.05
26 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return China (cont.) Petrochina Co ENR 10,858 11,228 0.697 0.687 8 8 0.5 0.5 -1.49 Petrochina Co Ltd -A ENR 6 6 69.940 69.740 0 0 0.0 0.0 -0.29 Poly Culture Group C CDI 19 21 2.008 1.774 0 0 0.0 0.0 -11.69 Postal Savings Bank FIN 123 319 0.519 0.628 0 0 0.0 0.0 20.95 Prosperity Internati IND 1,279 1,299 0.012 0.009 0 0 0.0 0.0 -29.75 Qingdao Port Interna IND 7 21 0.670 0.740 0 0 0.0 0.0 10.44 Qingling Motors Co CDI 669 663 0.319 0.327 0 0 0.0 0.0 2.81 Qinhuangdao Port C IND 11 0 0.338 0.282 0 0 0.0 0.0 -14.76 Red Star Macalline G RES 48 78 1.619 1.171 0 0 0.0 0.0 -27.70 Shandong Chenming Pa MAT 75 76 1.801 1.690 0 0 0.0 0.0 -6.20 Shanghai Dasheng Agr IND 116 190 0.082 0.027 0 0 0.0 0.0 -66.54 Shanghai Electric Gr IND 0 68 0.412 0.347 0 0 0.0 0.0 NA Shanghai Industrial RES 839 899 0.239 0.228 0 0 0.0 0.0 -4.66 Shanghai Industrial IND 392 373 2.865 2.606 1 1 0.1 0.1 -9.07 Shanghai Jin Jiang I CDI 632 642 0.348 0.409 0 0 0.0 0.0 17.55 Shanghai Pharmaceuti HTH 0 26 2.706 2.676 0 0 0.0 0.0 NA Shanghai Prime Machi IND 612 592 0.192 0.181 0 0 0.0 0.0 -5.71 Shengjing Bank FIN 23 25 0.792 0.747 0 0 0.0 0.0 -5.71 Sim Technology Group INF 618 575 0.052 0.046 0 0 0.0 0.0 -11.46 Sinofert Holdings MAT 570 579 0.166 0.127 0 0 0.0 0.0 -23.38 Sinolink Worldwide H RES 806 818 0.132 0.117 0 0 0.0 0.0 -11.03 Sinopec Engineering( IND 298 325 0.947 0.995 0 0 0.0 0.0 5.12
27 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return China (cont.) Sinotrans Limited IND 870 884 0.490 0.549 0 0 0.0 0.0 12.09 Skyworth Digital Hld CDI 1,186 1,205 0.430 0.450 1 1 0.0 0.0 4.64 Sre Group Limited RES 1,596 1,621 0.025 0.025 0 0 0.0 0.0 -2.90 Summi (Group) Holdin CST 337 0 0.115 0.115 0 0 0.0 0.0 -0.40 V1 Group Ltd INF 514 522 0.027 0.028 0 0 0.0 0.0 4.35 Wasion Group Holds INF 319 328 0.489 0.510 0 0 0.0 0.0 4.30 Weichai Power Co IND 457 253 1.095 1.121 1 0 0.0 0.0 2.40 Weiqiao Textile Co CDI 347 318 0.568 0.510 0 0 0.0 0.0 -10.27 Xiamen International IND 769 757 0.194 0.182 0 0 0.0 0.0 -6.29 Xinhua Winshare Publ CDI 79 80 0.794 0.799 0 0 0.0 0.0 0.57 Xinjiang Xinxin Mini MAT 202 205 0.138 0.133 0 0 0.0 0.0 -4.08 Yanzhou Coal Mining ENR 640 650 1.169 1.274 1 1 0.1 0.1 8.98 Yanzhou Coal Mng Co ENR 1 0 11.700 12.800 0 0 0.0 0.0 9.40 Yip''s Chemical Hold MAT 63 64 0.354 0.370 0 0 0.0 0.0 4.28 Zhengzhou Coal Minin IND 32 32 0.499 0.539 0 0 0.0 0.0 8.03 Zoomlion Heavy Ind S IND 675 686 0.429 0.382 0 0 0.0 0.0 -10.80 171 184 11.7 12.2 6.35 Colombia Almacenes Exito CST 101 109 5.549 5.900 1 1 0.0 0.0 6.42 Constructora Conconc IND 7 7 0.332 0.346 0 0 0.0 0.0 4.37 Ecopetrol S A ENR 29 0 14.630 19.330 0 0 0.0 0.0 32.13 Ecopetrol Sa ENR 4 0 0.740 0.936 0 0 0.0 0.0 26.43
28 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Colombia (cont.) Gpo De Inversiones S FIN 78 79 13.068 12.746 1 1 0.1 0.1 -0.66 Gpo De Inversiones S FIN 109 114 13.503 13.347 1 2 0.1 0.1 0.56 Grupo Argos S.A. MAT 82 91 6.996 6.738 1 1 0.0 0.0 -3.33 Grupo Argos S.A. MAT 24 27 6.427 5.872 0 0 0.0 0.0 -8.25 Grupo Nutresa Sa CST 14 15 9.321 9.301 0 0 0.0 0.0 0.28 Mineros S.A. MAT 5 5 0.848 0.859 0 0 0.0 0.0 2.79 4 4 0.3 0.3 3.30 Cyprus Afi Development Plc RES 2 1 0.185 0.194 0 0 0.0 0.0 4.86 0 0 0.0 0.0 4.86 Czech Republic Cez UTL 115 120 23.354 24.902 3 3 0.2 0.2 6.63 Unipetrol MAT 102 0 17.690 18.313 2 0 0.1 0.0 3.52 4 3 0.3 0.2 5.38 Germany Ipek Dogal Enerji Ka ENR 116 118 1.416 1.325 0 0 0.0 0.0 -6.43 0 0 0.0 0.0 -6.43 Greece Alpha Bank A E FIN 9 9 2.146 2.128 0 0 0.0 0.0 -0.85 Bank of Greece FIN 2 2 18.252 18.017 0 0 0.0 0.0 3.05 Ellaktor Sa IND 79 80 1.945 1.926 0 0 0.0 0.0 -0.99 Gek Terna Hldgs Real IND 20 13 5.320 6.014 0 0 0.0 0.0 13.05
29 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Greece (cont.) Intracom Holdings Sa IND 113 115 0.878 0.941 0 0 0.0 0.0 7.18 0 0 0.0 0.0 4.92 Hong Kong Beijing Enterprise H IND 207 213 5.936 5.224 1 1 0.1 0.1 -11.99 Beijing Properties H RES 34 35 0.042 0.035 0 0 0.0 0.0 -15.72 C C Land Holdings Li RES 1,858 1,824 0.221 0.228 0 0 0.0 0.0 3.06 China Aerospace Inte INF 1,627 1,587 0.120 0.108 0 0 0.0 0.0 -9.93 China Agri-Industrie CST 1,366 1,388 0.437 0.440 1 1 0.0 0.0 0.48 China Everbright Lim FIN 548 575 2.236 2.095 1 1 0.1 0.1 -6.32 China Financial Serv FIN 141 143 0.091 0.084 0 0 0.0 0.0 -7.41 China Glass Holdings IND 553 530 0.115 0.106 0 0 0.0 0.0 -8.14 China Jinmao Holding RES 2,850 2,895 0.440 0.570 1 2 0.1 0.1 29.43 China Merchants Port IND 631 544 2.616 2.204 2 1 0.1 0.1 -15.74 China Mobile Hong Ko TEL 37 59 50.540 45.750 2 3 0.1 0.2 -9.48 China Oil and Gas Gr UTL 612 643 0.109 0.080 0 0 0.0 0.0 -26.18 China Oriental Group MAT 47 87 0.746 0.680 0 0 0.0 0.0 -8.77 China Overseas Grand RES 523 835 0.533 0.484 0 0 0.0 0.0 -9.17 China Overseas Land RES 2,066 2,177 3.217 3.472 7 8 0.4 0.5 7.92 China Rare Earth Hld MAT 590 569 0.073 0.059 0 0 0.0 0.0 -18.74 China Resources Land RES 1,633 1,707 2.942 3.638 5 6 0.3 0.4 23.64 China Resources Phar HTH 11 42 1.295 1.402 0 0 0.0 0.0 8.27 China Taiping Insura FIN 187 0 3.748 3.306 1 0 0.0 0.0 -11.78
30 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Hong Kong (cont.) China Traditional Ch HTH 57 108 0.532 0.738 0 0 0.0 0.0 38.63 China Travel Interna CDI 1,460 1,484 0.372 0.354 1 1 0.0 0.0 -4.84 China Unicom Ltd TEL 518 520 13.530 12.830 7 7 0.5 0.4 -5.17 Chu Kong Shipping En IND 39 40 0.265 0.260 0 0 0.0 0.0 -1.84 Citic Limited IND 1,843 1,780 1.443 1.399 3 2 0.2 0.2 -3.04 Citic Resources Hold IND 620 741 0.098 0.112 0 0 0.0 0.0 13.83 Clear Media CDI 8 8 0.994 0.764 0 0 0.0 0.0 -23.08 Cnooc Ltd ENR 12 15 143.560 147.870 2 2 0.1 0.1 3.00 Concord New Energy G IND 2,635 2,677 0.044 0.045 0 0 0.0 0.0 2.49 Cosco Shipping Int ( IND 413 381 0.388 0.415 0 0 0.0 0.0 7.17 Cosco Shipping Ports IND 1,162 1,128 1.040 0.841 1 1 0.1 0.1 -19.14 Coslight Technology CST 113 106 0.426 0.385 0 0 0.0 0.0 -9.67 Cpmc Hldgs Ltd MAT 123 157 0.792 0.642 0 0 0.0 0.0 -18.90 Dah Chong Hong Hldgs CDI 606 594 0.463 0.505 0 0 0.0 0.0 8.96 Fosun International IND 923 938 2.216 2.166 2 2 0.1 0.1 -2.24 Gemdale Properties & RES 904 954 0.104 0.120 0 0 0.0 0.0 15.59 Goldlion Hldgs CDI 147 149 0.395 0.415 0 0 0.0 0.0 5.08 Goldpac Group Limite INF 65 77 0.303 0.303 0 0 0.0 0.0 0.03 Hi Sun Technology(Ch INF 204 237 0.196 0.177 0 0 0.0 0.0 -9.51 Hkc (Holdings) Ltd. RES 87 88 0.734 0.721 0 0 0.0 0.0 -1.78 Hua Hong Semiconduct INF 143 145 2.121 1.980 0 0 0.0 0.0 -6.64 K.Wah International RES 111 166 0.546 0.664 0 0 0.0 0.0 21.53
31 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Hong Kong (cont.) Kai Yuan Holdings Lt CDI 3,114 3,163 0.006 0.007 0 0 0.0 0.0 7.74 Kingboard Chemical H INF 517 501 5.405 4.568 3 2 0.2 0.2 -15.48 Kunlun Energy Compan ENR 2,042 2,074 1.041 0.863 2 2 0.1 0.1 -17.16 Le Saunda Holdings CDI 9 9 0.173 0.158 0 0 0.0 0.0 -8.51 Min Xin Hldgs FIN 53 54 0.736 0.663 0 0 0.0 0.0 -9.92 North Mining Shares MAT 541 550 0.021 0.017 0 0 0.0 0.0 -17.30 Parkson Retail Group CDI 834 822 0.115 0.116 0 0 0.0 0.0 0.71 Pax Global Technolog INF 215 243 0.448 0.452 0 0 0.0 0.0 1.03 Poly Property Group RES 1,483 1,353 0.521 0.492 1 1 0.1 0.0 -5.53 Rexlot Holdings Ltd CDI 6,293 9,384 0.007 0.006 0 0 0.0 0.0 -14.35 Shenzhen Internation IND 360 399 1.903 2.189 1 1 0.0 0.1 15.00 Shenzhen Investment RES 2,512 2,304 0.414 0.424 1 1 0.1 0.1 2.37 Shougang Concord Int MAT 3,918 4,125 0.029 0.028 0 0 0.0 0.0 -3.92 Shougang Fushan Reso MAT 1,533 1,558 0.215 0.255 0 0 0.0 0.0 18.58 Silver Grant Interna RES 675 633 0.160 0.210 0 0 0.0 0.0 31.48 Sino-Ocean Group Hol RES 2,074 1,899 0.689 0.725 1 1 0.1 0.1 5.15 Sinomedia Holding Li CDI 8 8 0.242 0.268 0 0 0.0 0.0 10.67 Sinopec Kantons Hldg ENR 460 506 0.646 0.493 0 0 0.0 0.0 -23.67 Sinotrans Shipping L IND 752 764 0.255 0.268 0 0 0.0 0.0 5.11 Sinotruk (Hong Kong) IND 540 486 1.126 1.184 1 1 0.0 0.0 5.15 Spt Energy Group Inc ENR 186 189 0.070 0.101 0 0 0.0 0.0 43.07 Taung Gold Internati MAT 576 586 0.008 0.005 0 0 0.0 0.0 -30.28
32 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Hong Kong (cont.) Tcl Multimedia Techn CDI 59 80 0.499 0.466 0 0 0.0 0.0 -6.52 Tian An China Invest RES 395 387 0.704 0.617 0 0 0.0 0.0 -8.73 Tianneng Power Inter CDI 7 14 1.039 1.184 0 0 0.0 0.0 13.96 Tomson Group RES 165 178 0.423 0.510 0 0 0.0 0.0 20.37 United Energy Group ENR 169 270 0.073 0.087 0 0 0.0 0.0 18.83 Universal Med Fin & HTH 28 52 0.961 0.872 0 0 0.0 0.0 -9.28 Welling Holding Limi IND 109 0 0.256 0.261 0 0 0.0 0.0 2.10 Xinchen China Power CDI 362 359 0.141 0.121 0 0 0.0 0.0 -13.98 Yanchang Petroleum I ENR 1,602 1,627 0.014 0.012 0 0 0.0 0.0 -13.86 Yuanda China Holding IND 127 129 0.018 0.017 0 0 0.0 0.0 -4.73 Yuexiu Property Co L RES 4,480 4,551 0.187 0.236 1 1 0.1 0.1 26.21 Zhuhai Hldgs Investm CDI 98 100 0.146 0.130 0 0 0.0 0.0 -10.88 50 52 3.3 3.4 0.37 Hungary Chemical Works of Ge HTH 0 1 26.245 20.899 0 0 0.0 0.0 NA Mol Hungarian Oil & ENR 184 187 11.632 10.920 2 2 0.1 0.1 -6.12 Otp Bank Plc FIN 83 67 41.497 44.990 3 3 0.2 0.2 8.42 6 5 0.4 0.3 2.85 India 5paisa Capital Ltd FIN 8 7 5.892 5.121 0 0 0.0 0.0 -13.08 Aarti Ind Ltd MAT 1 0 17.765 17.583 0 0 0.0 0.0 -1.02 Aban Offshore ENR 24 24 3.180 2.429 0 0 0.0 0.0 -23.62
33 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Acc Limited MAT 21 21 27.549 23.113 1 0 0.0 0.0 -16.10 Adani Enterprises Lt IND 253 257 2.606 2.398 1 1 0.0 0.0 -7.99 Adani Power Limited UTL 217 0 0.653 0.363 0 0 0.0 0.0 -44.38 Adani Transmission ( UTL 161 121 3.512 2.970 1 0 0.0 0.0 -15.43 Aditya Birla Capital FIN 126 128 2.885 2.238 0 0 0.0 0.0 -22.44 Aditya Birla Fashion CDI 253 224 2.702 2.313 1 1 0.0 0.0 -14.40 Alembic Ltd HTH 31 49 0.905 0.817 0 0 0.0 0.0 -9.68 Allahabad Bank FIN 97 98 1.151 0.760 0 0 0.0 0.0 -33.91 Allcargo Logistics L IND 32 33 3.271 2.257 0 0 0.0 0.0 -31.01 Ambuja Cements Ltd MAT 171 208 4.262 3.572 1 1 0.0 0.0 -16.20 Amtek Auto CDI 96 97 0.468 0.320 0 0 0.0 0.0 -31.59 Anant Raj Ltd RES 63 67 1.123 0.714 0 0 0.0 0.0 -36.40 Andhra Bank FIN 175 178 0.911 0.638 0 0 0.0 0.0 -29.99 Andhra Sugars MAT 0 1 8.387 6.263 0 0 0.0 0.0 NA Apar Industries IND 11 11 12.691 11.162 0 0 0.0 0.0 -12.05 Apollo Tyres CDI 291 295 4.203 4.248 1 1 0.1 0.1 1.07 Arvind Ltd CDI 155 158 7.063 5.872 1 1 0.1 0.1 -16.87 Ashoka Buildcon Ltd IND 15 17 3.833 3.809 0 0 0.0 0.0 -0.29 Astra Microwave Prod INF 8 8 1.784 1.176 0 0 0.0 0.0 -34.10 Axis Bank FIN 713 768 8.836 7.827 6 6 0.4 0.4 -11.41 Bajaj Finserv Limite FIN 11 4 81.946 79.292 1 0 0.1 0.0 -3.24 Bajaj Hindusthan Sug CST 0 75 0.241 0.135 0 0 0.0 0.0 NA
34 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Bajaj Holdings & Inv FIN 30 30 44.923 40.853 1 1 0.1 0.1 -9.06 Balkrishna Industrie CDI 3 7 18.709 16.385 0 0 0.0 0.0 -12.30 Ballarpur Industries MAT 89 0 0.282 0.190 0 0 0.0 0.0 -32.58 Balmer Lawrie IND 57 54 4.290 3.326 0 0 0.0 0.0 -22.49 Balrampur Chini Mill CST 156 162 2.074 1.160 0 0 0.0 0.0 -44.08 Banco Products (Indi CDI 1 2 4.072 3.250 0 0 0.0 0.0 -18.61 Bank of Baroda FIN 311 165 2.517 2.182 1 0 0.1 0.0 -13.32 Bank of India FIN 50 56 2.660 1.588 0 0 0.0 0.0 -40.30 Bank of Maharashtra FIN 73 74 0.358 0.209 0 0 0.0 0.0 -41.75 Beml Ltd IND 4 4 25.353 16.008 0 0 0.0 0.0 -36.86 Bgr Energy Systems L IND 13 13 2.153 1.562 0 0 0.0 0.0 -27.45 Bharat Electronics IND 25 25 2.854 2.169 0 0 0.0 0.0 -23.23 Bharat Heavy Electri IND 575 585 1.449 1.247 1 1 0.1 0.0 -13.21 Bharti Airtel Ltd TEL 862 977 8.298 6.113 7 6 0.5 0.4 -25.86 Biocon HTH 75 76 8.418 9.106 1 1 0.0 0.0 8.17 Birla Corp MAT 13 14 18.056 10.958 0 0 0.0 0.0 -39.31 Bombay Dyeing & Manu CDI 86 76 4.354 3.665 0 0 0.0 0.0 -15.82 Bombay Rayon Fashion CDI 1 1 1.940 0.661 0 0 0.0 0.0 -65.94 Brigade Enterprises RES 13 13 4.936 3.766 0 0 0.0 0.0 -23.70 Canara Bank FIN 80 81 5.646 4.046 0 0 0.0 0.0 -28.34 Ceat Ltd CDI 20 22 30.564 23.095 1 1 0.0 0.0 -24.44 Cg Power and Industr IND 150 178 1.454 1.190 0 0 0.0 0.0 -18.17
35 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Chambal Fertilisers MAT 186 172 2.388 2.524 0 0 0.0 0.0 5.69 City Union Bank FIN 105 109 2.817 2.644 0 0 0.0 0.0 -6.14 Coffee Day Enterpris CDI 0 3 4.304 4.674 0 0 0.0 0.0 NA Container Corp IND 7 7 21.611 19.090 0 0 0.0 0.0 -11.01 Coromandel Internati MAT 8 0 9.075 8.052 0 0 0.0 0.0 -10.77 Corporation Bank FIN 123 125 0.614 0.470 0 0 0.0 0.0 -23.48 Cox & Kings Ltd CDI 93 95 4.261 3.496 0 0 0.0 0.0 -17.97 Crompton Greaves Con CDI 74 29 4.316 3.630 0 0 0.0 0.0 -15.90 Cyient Limited INF 8 9 9.138 10.654 0 0 0.0 0.0 17.34 Dalmia Bharat Ltd MAT 8 9 50.261 44.067 0 0 0.0 0.0 -12.32 Dalmia Bharat Sugar CST 1 1 2.071 0.987 0 0 0.0 0.0 -52.36 Db Realty Ltd RES 65 66 0.907 0.706 0 0 0.0 0.0 -22.17 Dcb Bank Limited FIN 177 180 3.072 2.477 1 0 0.0 0.0 -19.36 Dcm Shriram Ltd MAT 33 33 8.731 6.505 0 0 0.0 0.0 -25.03 Deepak Fertilisers & MAT 38 36 6.684 4.423 0 0 0.0 0.0 -33.83 Delta Corp Ltd CDI 30 4 4.829 3.837 0 0 0.0 0.0 -20.54 Den Networks Ltd CDI 28 30 1.659 1.551 0 0 0.0 0.0 -6.53 Dena Bank FIN 38 39 0.391 0.288 0 0 0.0 0.0 -26.26 Dewan Housing Fin FIN 135 144 9.129 7.822 1 1 0.1 0.1 -14.32 Dhampur Sugar Mills CST 3 4 3.373 2.087 0 0 0.0 0.0 -37.16 Dishman Carbogen Amc HTH 106 108 5.093 4.912 1 1 0.0 0.0 -3.55 Dlf Limited RES 195 285 4.063 3.086 1 1 0.1 0.1 -23.62
36 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Dr Reddys Laboratori HTH 0 12 37.824 31.900 0 0 0.0 0.0 NA Dr Reddys Labs Ltd HTH 0 5 37.560 32.690 0 0 0.0 0.0 NA Dredging Corp Ind IND 2 3 13.375 8.915 0 0 0.0 0.0 -33.35 E.I.D.-Parry(India) MAT 74 74 5.814 4.196 0 0 0.0 0.0 -27.82 Edelweiss Financial FIN 180 47 4.653 3.652 1 0 0.1 0.0 -21.20 Eih Ltd CDI 79 75 2.273 2.439 0 0 0.0 0.0 7.30 Electrosteel Casting IND 67 72 0.591 0.375 0 0 0.0 0.0 -36.53 Engineers India IND 67 39 3.122 2.429 0 0 0.0 0.0 -20.96 Eros International M CDI 29 30 3.118 2.548 0 0 0.0 0.0 -18.27 Escorts IND 16 0 12.337 12.543 0 0 0.0 0.0 1.67 Essel Propack Ltd MAT 48 46 4.634 3.669 0 0 0.0 0.0 -20.83 Eveready Industries CST 4 0 6.880 5.746 0 0 0.0 0.0 -16.49 Exide Industries CDI 59 60 3.499 3.417 0 0 0.0 0.0 -2.36 Fdc Ltd HTH 3 3 3.956 3.817 0 0 0.0 0.0 -3.51 Federal Bank FIN 913 928 1.700 1.368 2 1 0.1 0.1 -19.55 Finolex Cables IND 41 40 11.085 10.347 0 0 0.0 0.0 -6.65 Finolex Industries MAT 8 8 10.336 10.115 0 0 0.0 0.0 -2.13 Firstsource Solution INF 216 224 0.640 0.813 0 0 0.0 0.0 26.97 Fortis Healthcare (I HTH 62 126 2.514 1.891 0 0 0.0 0.0 -24.77 Future Enterprises L IND 96 106 0.759 0.549 0 0 0.0 0.0 -27.69 Future Retail Ltd CDI 100 101 8.223 8.445 1 1 0.1 0.1 2.70 GIC Housing Finance FIN 7 7 7.255 5.709 0 0 0.0 0.0 -21.31
37 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Gas Authority of Ind UTL 351 370 5.871 5.037 2 2 0.1 0.1 -12.80 Gateway Distriparks IND 12 13 3.692 2.679 0 0 0.0 0.0 -27.43 Gati Ltd IND 41 45 2.127 1.343 0 0 0.0 0.0 -36.85 Genus Power Infrastr INF 7 9 1.173 0.782 0 0 0.0 0.0 -33.32 Ghcl Ltd MAT 16 19 4.981 3.963 0 0 0.0 0.0 -20.44 Glenmark Pharmaceuti HTH 1 8 9.318 8.069 0 0 0.0 0.0 -13.40 Gocl Corporation Lim MAT 1 1 8.984 7.632 0 0 0.0 0.0 -15.05 Godawari Power and I MAT 0 1 5.378 6.609 0 0 0.0 0.0 NA Granules India HTH 0 19 2.153 1.583 0 0 0.0 0.0 NA Graphite India IND 8 5 11.127 11.133 0 0 0.0 0.0 0.75 Grasim Industries MAT 91 111 18.264 16.113 2 2 0.1 0.1 -11.78 Great Eastern Shippi ENR 70 70 6.257 5.063 0 0 0.0 0.0 -19.08 Greaves Cotton Ltd IND 0 2 2.148 1.744 0 0 0.0 0.0 NA Gujarat Alkalies MAT 29 30 11.681 10.710 0 0 0.0 0.0 -8.31 Gujarat Ambuja Expor CST 1 2 3.059 3.538 0 0 0.0 0.0 15.66 Gujarat Fluorochemic MAT 29 29 14.278 12.212 0 0 0.0 0.0 -14.47 Gujarat Mineral Deve ENR 95 93 2.619 1.887 0 0 0.0 0.0 -27.96 Gujarat Narmada Vall MAT 55 57 7.740 5.580 0 0 0.0 0.0 -27.90 Gujarat Pipavav Port IND 2 3 2.139 2.229 0 0 0.0 0.0 4.21 Gujarat State Fertil MAT 164 166 2.444 1.749 0 0 0.0 0.0 -28.42 Gujarat State Petron UTL 178 181 3.564 2.905 1 1 0.0 0.0 -18.48 Hbl Power Systems Lt IND 6 11 1.127 0.677 0 0 0.0 0.0 -39.95
38 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Hcl Infosystems INF 9 0 0.913 0.781 0 0 0.0 0.0 -14.40 Hcl Technologies INF 4 0 13.952 14.851 0 0 0.0 0.0 6.66 Heg Limited IND 9 9 36.604 48.833 0 0 0.0 0.0 34.85 Heidelbergcement Ind MAT 26 26 2.399 2.183 0 0 0.0 0.0 -8.98 Hikal Ltd HTH 7 9 3.677 3.155 0 0 0.0 0.0 -13.94 Himachal Futuristic TEL 557 565 0.449 0.396 0 0 0.0 0.0 -11.70 Himatsingka Seide CDI 30 30 6.257 5.358 0 0 0.0 0.0 -14.37 Hindalco Industries MAT 908 985 4.286 3.290 4 3 0.3 0.2 -23.24 Hinduja Global Solut INF 5 5 14.093 12.434 0 0 0.0 0.0 -11.52 Hindustan Media Vent CDI 1 1 3.955 3.378 0 0 0.0 0.0 -14.58 Housing Development RES 204 207 1.027 0.592 0 0 0.0 0.0 -42.37 Hsil Ltd. MAT 29 31 7.916 5.691 0 0 0.0 0.0 -28.10 Ht Media Ltd CDI 41 46 1.598 1.286 0 0 0.0 0.0 -19.50 Icici Bk Ltd FIN 986 887 9.730 8.850 10 8 0.6 0.5 -9.04 Idbi Bank Ltd FIN 141 158 0.938 1.107 0 0 0.0 0.0 18.06 Idea Cellular Ltd TEL 1,038 1,249 1.694 1.164 2 1 0.1 0.1 -31.32 Idfc Bank Ltd FIN 380 476 0.850 0.726 0 0 0.0 0.0 -14.58 Idfc Limited FIN 483 522 0.985 0.747 0 0 0.0 0.0 -24.15 Iifl Holdings Ltd FIN 209 212 10.459 10.820 2 2 0.1 0.2 3.46 Il&Fs Transportation IND 32 37 1.311 0.922 0 0 0.0 0.0 -29.67 India Cements MAT 201 204 2.874 2.173 1 0 0.0 0.0 -24.38 India Glycol MAT 0 2 7.224 6.933 0 0 0.0 0.0 NA
39 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Indiabulls Housing FIN 68 8 18.747 18.970 1 0 0.1 0.0 2.22 Indiabulls Real Esta RES 128 137 3.498 2.782 0 0 0.0 0.0 -20.48 Indian Bank FIN 53 54 5.902 4.597 0 0 0.0 0.0 -22.12 Indian Hotels Co(The CDI 367 364 1.846 1.984 1 1 0.0 0.0 7.50 Indian Metals & Ferr MAT 0 1 10.791 6.581 0 0 0.0 0.0 NA Indo Count Industrie CDI 0 2 1.942 1.303 0 0 0.0 0.0 NA Industrial Finance C FIN 662 672 0.483 0.300 0 0 0.0 0.0 -37.88 Ineos Styrolution In MAT 2 2 16.703 13.141 0 0 0.0 0.0 -21.33 Infosys Ltd INF 26 26 16.326 17.353 0 0 0.0 0.0 6.29 Inox India Limited IND 1 3 2.261 1.664 0 0 0.0 0.0 -26.42 Insecticides India L MAT 0 1 12.657 10.539 0 0 0.0 0.0 NA Intellect Design Are INF 36 36 2.581 2.534 0 0 0.0 0.0 -1.81 International Paper MAT 0 1 5.017 4.467 0 0 0.0 0.0 NA Ipca Laboratories HTH 2 2 9.374 10.053 0 0 0.0 0.0 7.24 J Kumar Infaprojec IND 4 5 4.701 4.161 0 0 0.0 0.0 -11.48 J.B.Chemicals & Phar HTH 38 35 5.270 4.755 0 0 0.0 0.0 -9.79 J.K.Corp MAT 30 30 6.892 7.074 0 0 0.0 0.0 2.65 Jagran Prakashan Lim CDI 0 1 2.786 2.650 0 0 0.0 0.0 NA Jai Corp Ltd MAT 2 15 2.732 2.050 0 0 0.0 0.0 -24.98 Jain Irrigation Syst IND 323 371 1.970 1.632 1 1 0.0 0.0 -17.16 Jaiprakash Associate IND 1,322 1,343 0.407 0.290 1 0 0.0 0.0 -28.86 Jammu & Kashmir Bank FIN 232 229 1.231 0.925 0 0 0.0 0.0 -24.81
40 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Jaypee Infratech Ltd IND 411 417 0.373 0.129 0 0 0.0 0.0 -65.46 Jbf Industries CDI 26 24 3.514 1.287 0 0 0.0 0.0 -63.37 Jindal Poly Films MAT 24 25 6.536 4.797 0 0 0.0 0.0 -26.61 Jindal Saw Ltd MAT 155 157 2.191 1.821 0 0 0.0 0.0 -16.90 Jindal Stainless Ltd MAT 0 3 1.634 1.204 0 0 0.0 0.0 NA Jindal Steel and Pow MAT 358 364 3.213 3.359 1 1 0.1 0.1 4.57 Jitf Infralogistics IND 8 5 0.779 0.530 0 0 0.0 0.0 -31.97 Jk Cements Ltd MAT 15 15 17.402 15.563 0 0 0.0 0.0 -10.57 Jk Paper Ltd MAT 8 13 2.146 2.071 0 0 0.0 0.0 -3.46 Jk Tyre & Industries CDI 66 72 2.313 2.498 0 0 0.0 0.0 8.00 Jm Financial Ltd FIN 314 292 2.463 1.975 1 1 0.1 0.0 -19.47 Jmc Projects (India) IND 0 1 9.820 8.442 0 0 0.0 0.0 NA Jsw Energy Ltd UTL 408 415 1.448 1.116 1 0 0.0 0.0 -22.90 Jsw Steel Ltd MAT 1,538 1,363 4.227 4.418 7 6 0.4 0.4 4.52 Jubilant Life Scienc HTH 74 76 12.350 12.871 1 1 0.1 0.1 4.21 Kalpataru Power Tran IND 53 52 7.405 7.425 0 0 0.0 0.0 0.26 Kalyani Steels MAT 2 2 6.272 4.561 0 0 0.0 0.0 -27.28 Karnataka Bank FIN 172 175 2.376 1.762 0 0 0.0 0.0 -25.85 Kaveri Seed Company CST 8 8 8.580 7.412 0 0 0.0 0.0 -13.62 Kcp Ltd MAT 3 7 2.151 1.996 0 0 0.0 0.0 -7.20 Kec International IND 62 23 6.007 5.976 0 0 0.0 0.0 -0.52 Kiri Industries Ltd MAT 0 2 7.896 6.412 0 0 0.0 0.0 NA
41 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Kirloskar Brothers L IND 1 1 5.193 4.764 0 0 0.0 0.0 -8.26 Kirloskar Oil Engine IND 22 22 5.962 4.986 0 0 0.0 0.0 -15.82 Kolte-Patil Develope RES 7 8 5.733 4.560 0 0 0.0 0.0 -20.47 Kpit Technologies Lt INF 100 120 2.832 3.320 0 0 0.0 0.0 17.25 Krbl Ltd CST 20 15 9.404 6.687 0 0 0.0 0.0 -28.89 L&T Finance Holdings FIN 29 29 2.726 2.409 0 0 0.0 0.0 -11.64 L.T. Foods Ltd CST 3 3 1.427 1.303 0 0 0.0 0.0 -8.69 Lakshmi Vilas Bank L FIN 9 0 0.196 0.192 0 0 0.0 0.0 -2.14 Lakshmi Vilas Bank L FIN 27 36 2.320 1.510 0 0 0.0 0.0 -34.89 Larsen & Toubro IND 315 320 19.713 20.099 6 6 0.4 0.4 1.96 Lic Housing Finance FIN 57 58 8.828 8.194 1 0 0.0 0.0 -7.19 Lloyd Electric & Eng IND 0 2 4.510 3.660 0 0 0.0 0.0 NA Lupin Ltd HTH 0 28 13.867 11.282 0 0 0.0 0.0 NA Magma Fincorp Ltd FIN 10 11 2.515 2.323 0 0 0.0 0.0 -7.65 Maharashtra Seamless MAT 8 9 8.021 6.493 0 0 0.0 0.0 -19.05 Mahindra & Mahindra FIN 71 84 7.412 7.103 1 1 0.0 0.0 -4.18 Mahindra & Mahindra CDI 286 308 11.768 11.329 3 3 0.2 0.2 -3.73 Mahindra Cie Automot CDI 2 2 4.044 3.293 0 0 0.0 0.0 -18.59 Mahindra Lifespace D RES 18 18 7.195 6.761 0 0 0.0 0.0 -6.04 Man Infraconstructio IND 6 15 1.064 0.769 0 0 0.0 0.0 -27.72 Manappuram Finance L FIN 254 304 1.933 1.672 0 1 0.0 0.0 -13.11 Mangalam Cement MAT 0 1 5.531 4.926 0 0 0.0 0.0 NA
42 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Mastek INF 0 3 5.880 8.134 0 0 0.0 0.0 NA McLeod Russel India CST 53 51 3.213 2.205 0 0 0.0 0.0 -31.39 Meghmani Organics Li MAT 9 13 1.669 1.292 0 0 0.0 0.0 -22.58 Mercator Ltd IND 17 27 0.618 0.530 0 0 0.0 0.0 -14.29 Merck Limited HTH 6 6 20.207 23.044 0 0 0.0 0.0 14.04 Mindtree Ltd INF 6 6 9.595 11.836 0 0 0.0 0.0 23.69 Mirza International CDI 0 1 2.490 1.923 0 0 0.0 0.0 NA Moil Ltd MAT 13 18 3.799 3.000 0 0 0.0 0.0 -19.99 Mphasis Ltd INF 39 39 11.369 12.845 0 1 0.0 0.0 12.98 Mrf CDI 1 1 1133.634 1111.796 1 1 0.1 0.1 -1.92 Munjal Showa CDI 0 1 4.467 3.138 0 0 0.0 0.0 NA Muthoot Finance Ltd FIN 24 38 7.436 6.247 0 0 0.0 0.0 -13.95 Nagarjuna Fertilizer MAT 136 138 0.318 0.235 0 0 0.0 0.0 -26.00 National Aluminium C MAT 372 377 1.347 1.019 1 0 0.0 0.0 -19.31 National Fertilize MAT 0 3 1.152 0.833 0 0 0.0 0.0 NA Nava Bharat Ventures IND 17 22 2.296 2.065 0 0 0.0 0.0 -10.05 Navkar Corporation IND 0 4 2.942 2.312 0 0 0.0 0.0 NA Ncc Ltd IND 374 415 2.095 1.802 1 1 0.1 0.0 -13.99 Nectar Lifesciences HTH 20 20 0.610 0.402 0 0 0.0 0.0 -34.05 Niit INF 41 44 1.614 1.529 0 0 0.0 0.0 -5.23 Niit Technologies INF 40 41 10.106 13.262 0 1 0.0 0.0 31.23 Nilkamal Ltd MAT 4 4 28.785 23.303 0 0 0.0 0.0 -19.04
43 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Nocil Ltd MAT 5 5 2.848 2.942 0 0 0.0 0.0 3.30 Oberoi Realty Ltd RES 52 53 7.539 7.823 0 0 0.0 0.0 3.77 Ocl India Ltd MAT 8 8 23.882 19.901 0 0 0.0 0.0 -16.67 Omaxe Ltd RES 28 30 3.611 3.382 0 0 0.0 0.0 -6.36 Onmobile Global Ltd INF 23 24 0.889 0.662 0 0 0.0 0.0 -25.50 Orient Cement Ltd MAT 45 47 2.678 2.137 0 0 0.0 0.0 -20.23 Oriental Bank of Com FIN 73 74 1.891 1.404 0 0 0.0 0.0 -25.73 Parsvnath Developers RES 12 12 0.474 0.228 0 0 0.0 0.0 -51.96 Patel Engineering Lt IND 0 5 1.220 0.924 0 0 0.0 0.0 NA Pc Jeweller Limited CDI 91 93 7.156 4.909 1 0 0.0 0.0 -31.39 Persistent Systems L INF 8 9 11.249 10.641 0 0 0.0 0.0 -4.56 Petronet Lng ENR 363 368 3.991 3.541 1 1 0.1 0.1 -11.28 Phillips Carbon Blac MAT 1 1 15.280 16.645 0 0 0.0 0.0 8.93 Piramal Enterprises HTH 51 54 44.663 37.301 2 2 0.2 0.1 -16.48 Polaris Consulting & INF 6 0 6.151 7.178 0 0 0.0 0.0 16.69 Polyplex Corp MAT 1 1 8.647 7.218 0 0 0.0 0.0 -16.53 Power Finance Corpor FIN 465 472 1.907 1.313 1 1 0.1 0.0 -29.90 Prabhat Dairy Limite CST 1 2 3.534 2.303 0 0 0.0 0.0 -34.83 Praj Industries IND 75 78 1.752 1.231 0 0 0.0 0.0 -29.74 Prakash Industries L MAT 8 22 3.068 2.593 0 0 0.0 0.0 -15.48 Praxis Home Retail L CDI 0 1 NA 2.731 0 0 0.0 0.0 NA Prestige Estates Pro RES 22 26 4.985 4.474 0 0 0.0 0.0 -10.24
44 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Ptc India Financial FIN 189 202 0.584 0.369 0 0 0.0 0.0 -36.90 Ptc India Ltd UTL 241 241 1.860 1.340 0 0 0.0 0.0 -27.94 Punjab & Sind Bank FIN 1 1 0.768 0.540 0 0 0.0 0.0 -29.70 Punjab National Bank FIN 194 229 2.685 1.461 1 0 0.0 0.0 -45.59 Puravankara Ltd RES 35 36 2.619 2.136 0 0 0.0 0.0 -18.44 Radico Khaitan Ltd. CST 51 52 4.605 5.094 0 0 0.0 0.0 10.63 Rain Industries Ltd MAT 66 67 5.802 5.744 0 0 0.0 0.0 -1.00 Rajesh Exports CDI 1 1 12.596 11.340 0 0 0.0 0.0 -9.98 Ramco Industries MAT 0 3 4.551 3.526 0 0 0.0 0.0 NA Ramco Systems INF 0 1 8.252 5.446 0 0 0.0 0.0 NA Raymond Ltd CDI 27 28 16.567 13.765 0 0 0.0 0.0 -16.92 Rcf MAT 49 70 1.510 1.122 0 0 0.0 0.0 -25.69 Redington India Ltd INF 154 159 2.735 2.251 0 0 0.0 0.0 -17.72 Reliance Capital Lim FIN 65 72 9.074 6.490 1 0 0.0 0.0 -28.47 Reliance Communicati TEL 925 1,042 0.566 0.333 1 0 0.0 0.0 -41.12 Reliance Home Fin Lt FIN 132 134 1.419 0.914 0 0 0.0 0.0 -35.62 Reliance Industries ENR 7 7 28.550 27.100 0 0 0.0 0.0 -5.08 Reliance Industries ENR 2,545 2,588 14.430 13.534 37 35 2.5 2.3 -6.21 Reliance Naval and E IND 2 2 0.772 0.420 0 0 0.0 0.0 -45.61 Reliance Power UTL 662 673 0.787 0.553 1 0 0.0 0.0 -29.69 Rico Auto Industries CDI 0 5 1.589 1.201 0 0 0.0 0.0 NA Rolta India INF 39 40 0.934 0.878 0 0 0.0 0.0 -6.00
45 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Ruchi Soya Indust CST 54 35 0.292 0.245 0 0 0.0 0.0 -16.31 Rural Electrificatio FIN 689 716 2.440 1.912 2 1 0.1 0.1 -17.60 Sanghi Industries MAT 0 3 2.189 1.812 0 0 0.0 0.0 NA Sanghvi Movers IND 3 3 2.997 2.659 0 0 0.0 0.0 -11.27 Sarda Energy & Miner MAT 0 2 7.863 6.481 0 0 0.0 0.0 NA Shipping Corporation IND 132 137 1.482 0.984 0 0 0.0 0.0 -33.64 Shriram City Union F FIN 0 1 33.009 32.682 0 0 0.0 0.0 NA Shriram Transport Fi FIN 57 68 23.209 22.072 1 2 0.1 0.1 -4.90 Simplex Infrastructu IND 4 4 9.121 8.138 0 0 0.0 0.0 -10.77 Sintex Industries CDI 188 191 0.427 0.275 0 0 0.0 0.0 -35.54 Sintex Plastics Tech IND 587 597 1.312 0.882 1 1 0.1 0.0 -32.81 Snowman Logistics Li IND 0 3 0.899 0.686 0 0 0.0 0.0 NA Sobha Limited RES 61 62 9.698 7.789 1 0 0.0 0.0 -19.69 Sonata Software INF 16 17 4.363 4.797 0 0 0.0 0.0 9.97 South India Bank FIN 881 895 0.486 0.350 0 0 0.0 0.0 -28.02 Srei Infrastructure FIN 142 144 1.565 1.127 0 0 0.0 0.0 -28.00 Srf Limited CDI 16 16 31.040 29.977 0 0 0.0 0.0 -3.12 Srikalahasthi Pipes MAT 0 2 6.276 4.936 0 0 0.0 0.0 NA State Bank of India FIN 858 903 4.855 3.832 4 3 0.3 0.2 -21.08 Steel Authority of I MAT 205 208 1.444 1.076 0 0 0.0 0.0 -25.45 Sterlite Technologie INF 81 20 4.583 4.790 0 0 0.0 0.0 4.50 Strides Shasun Ltd HTH 0 1 12.893 10.260 0 0 0.0 0.0 NA
46 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Sunteck Realty Ltd RES 9 9 6.550 6.521 0 0 0.0 0.0 -0.44 Surya Roshni MAT 2 2 6.170 5.849 0 0 0.0 0.0 -5.19 Sutlej Textiles & In CDI 0 1 1.525 1.117 0 0 0.0 0.0 NA Suven Life Sciences HTH 1 1 3.187 2.567 0 0 0.0 0.0 -18.84 Syndicate Bank FIN 157 159 1.256 0.850 0 0 0.0 0.0 -32.30 Take Solutions INF 22 26 2.525 2.509 0 0 0.0 0.0 -0.44 Tata Chemicals MAT 132 134 11.461 10.382 2 1 0.1 0.1 -9.41 Tata Global Beverage CST 392 398 4.957 3.967 2 2 0.1 0.1 -19.97 Tata Motors Limited CDI 1,114 1,132 6.766 5.011 8 6 0.5 0.4 -25.93 Tata Mtrs Ltd CDI 8 8 33.070 25.700 0 0 0.0 0.0 -22.29 Tata Steel Ltd MAT 0 31 NA 2.155 0 0 0.0 0.0 NA Tata Steel Ltd MAT 372 432 10.932 8.756 4 4 0.3 0.3 -14.70 Tech Mahindra INF 108 119 7.897 9.793 1 1 0.1 0.1 24.00 Techno Electric & En IND 3 3 6.453 5.726 0 0 0.0 0.0 -11.26 Texmaco Rail & Engin IND 4 13 1.754 1.279 0 0 0.0 0.0 -27.09 The Ramco Cements Lt MAT 10 0 12.308 11.097 0 0 0.0 0.0 -9.84 Ti Financial Holding FIN 44 44 10.768 9.964 0 0 0.0 0.0 -7.38 Time Technoplast MAT 82 85 3.253 2.455 0 0 0.0 0.0 -24.52 Titagarh Wagons Ltd IND 10 15 2.609 1.682 0 0 0.0 0.0 -35.52 Tnpl(Tamil Nadu News MAT 21 22 7.008 5.333 0 0 0.0 0.0 -23.90 Tourism Finance Corp FIN 0 1 2.461 2.331 0 0 0.0 0.0 NA Transport Corp of In IND 4 4 4.544 4.146 0 0 0.0 0.0 -8.46
47 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Trident Ltd CDI 6 11 1.401 0.908 0 0 0.0 0.0 -34.60 Triveni Engineering& CST 0 4 1.215 0.623 0 0 0.0 0.0 NA Tube Investments of CDI 44 45 4.223 3.410 0 0 0.0 0.0 -18.88 Tv Today Network CDI 2 2 6.753 7.491 0 0 0.0 0.0 10.94 Tv18 Broadcast Limit CDI 492 499 0.962 1.029 0 1 0.0 0.0 6.95 Uco Bank FIN 227 207 0.459 0.331 0 0 0.0 0.0 -27.86 Uflex Ltd MAT 36 35 7.626 5.245 0 0 0.0 0.0 -31.22 Ufo Moviez India Lim CDI 1 1 8.203 5.717 0 0 0.0 0.0 -30.30 Unichem Labs HTH 29 30 5.187 4.374 0 0 0.0 0.0 -15.66 Union Bank of India FIN 148 156 2.261 1.441 0 0 0.0 0.0 -36.25 Unitech Limited RES 904 918 0.150 0.085 0 0 0.0 0.0 -43.42 Upl Limited MAT 168 62 11.949 11.196 2 1 0.1 0.0 -6.30 Va Tech Wabag Ltd UTL 3 3 9.567 7.520 0 0 0.0 0.0 -21.40 Vardhman Textiles Lt CDI 19 19 21.603 18.739 0 0 0.0 0.0 -13.26 Vedanta Limited MAT 1,423 1,446 5.169 4.260 7 6 0.5 0.4 -11.49 Vedanta Ltd MAT 86 87 20.830 17.570 2 2 0.1 0.1 -9.57 Vijaya Bank FIN 186 189 1.071 0.798 0 0 0.0 0.0 -25.48 Vindhya Telelinks INF 0 1 20.209 16.094 0 0 0.0 0.0 NA Welspun Corp Ltd MAT 116 114 2.127 2.068 0 0 0.0 0.0 -2.75 Welspun Enterprises IND 64 56 2.757 2.167 0 0 0.0 0.0 -21.40 Welspun India CDI 71 75 1.119 0.890 0 0 0.0 0.0 -20.44 West Coast Paper Mil MAT 1 3 4.988 3.661 0 0 0.0 0.0 -26.61
48 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Wipro INF 425 503 4.923 4.311 2 2 0.1 0.1 -12.16 Wockhardt HTH 21 21 14.592 11.139 0 0 0.0 0.0 -23.66 Zensar Technologies INF 12 13 13.952 13.818 0 0 0.0 0.0 -0.44 Zuari Agro Chemicals MAT 2 2 8.630 7.390 0 0 0.0 0.0 -14.36 194 172 13.2 11.4 -11.85 Indonesia Adaro Energy Tbk ENR 18,824 17,807 0.137 0.155 3 3 0.2 0.2 12.85 Adhi Karya Persero IND 1,601 1,646 0.139 0.150 0 0 0.0 0.0 8.22 Agung Podomoro Land RES 7,679 6,929 0.015 0.016 0 0 0.0 0.0 1.36 Alam Sutera Realty T RES 12,781 12,620 0.026 0.027 0 0 0.0 0.0 4.64 Aneka Tambang MAT 8,516 7,215 0.046 0.056 0 0 0.0 0.0 22.20 Asahimas Flat Glas IND 367 372 0.444 0.394 0 0 0.0 0.0 -11.27 Astra Agro Lestari T CST 197 213 0.969 0.979 0 0 0.0 0.0 0.98 Astra Graphia Tbk IND 33 33 0.097 0.114 0 0 0.0 0.0 18.11 Bakrie & Bros IND 29,958 29,927 0.004 0.004 0 0 0.0 0.0 -1.45 Bakrie Telecom Tbk TEL 16,817 12,200 0.004 0.004 0 0 0.0 0.0 -1.45 Bank Bukopin Pt FIN 4,854 4,741 0.043 0.042 0 0 0.0 0.0 -3.12 Bank Jabar Banten Tb FIN 2,579 2,671 0.177 0.150 0 0 0.0 0.0 -11.97 Bank Mandiri(Persero FIN 11,326 10,451 0.590 0.557 7 6 0.5 0.4 -3.00 Bank Pan Indonesia FIN 9,379 9,144 0.084 0.078 1 1 0.1 0.0 -7.50 Bank Pembangunan Dae FIN 1,288 1,652 0.052 0.046 0 0 0.0 0.0 -7.35 Bank Rakyat Indonesi FIN 140 142 0.268 0.261 0 0 0.0 0.0 -2.54
49 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Indonesia (cont.) Bank Tabungan Negara FIN 4,792 4,836 0.263 0.276 1 1 0.1 0.1 4.90 Barito Pacific Tbk MAT 3,444 3,499 0.167 0.168 1 1 0.0 0.0 0.73 Bekasi Fajar Industr RES 3,317 3,667 0.018 0.021 0 0 0.0 0.0 13.53 Benakat Integra Tbk ENR 10,633 10,802 0.005 0.006 0 0 0.0 0.0 15.20 Bisi International T CST 1,003 1,019 0.132 0.143 0 0 0.0 0.0 8.43 Blue Bird Tbk Pt IND 4 4 0.255 0.209 0 0 0.0 0.0 -17.97 Bukit Asam Tbk ENR 119 0 0.181 0.214 0 0 0.0 0.0 17.78 Cal-Comp Electronics INF 2,155 2,128 0.091 0.065 0 0 0.0 0.0 -27.33 Ciputra Development RES 12,696 13,015 0.087 0.085 1 1 0.1 0.1 -2.28 Clipan Finance FIN 224 228 0.021 0.023 0 0 0.0 0.0 12.63 Eagle High Plantatio CST 7,958 8,459 0.013 0.016 0 0 0.0 0.0 16.32 Elnusa Tbk ENR 3,888 3,950 0.027 0.034 0 0 0.0 0.0 23.45 Energi Mega Persada ENR 0 92 0.007 0.018 0 0 0.0 0.0 NA Erajaya Tbk INF 1,192 1,313 0.054 0.092 0 0 0.0 0.0 69.61 Eureka Prima Jakarta RES 97 99 0.006 0.005 0 0 0.0 0.0 -23.63 Ever Shine Textile CDI 1,437 622 0.006 0.007 0 0 0.0 0.0 31.82 Gajah Tunggal Tbk CDI 1,810 1,647 0.050 0.059 0 0 0.0 0.0 17.39 Garuda Indonesia (Pe IND 3,419 3,473 0.022 0.021 0 0 0.0 0.0 -3.42 Global Mediacom Tbk CDI 7,614 7,895 0.043 0.039 0 0 0.0 0.0 -10.64 Hanson International RES 3,649 3,707 0.008 0.011 0 0 0.0 0.0 31.69 Harum Energy Tbk. Pt ENR 990 1,005 0.151 0.198 0 0 0.0 0.0 30.76 Hexindo Adiperkasa IND 54 55 0.220 0.218 0 0 0.0 0.0 -1.12
50 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Indonesia (cont.) Holcim Indonesia Tbk MAT 1,963 1,994 0.062 0.058 0 0 0.0 0.0 -5.58 Indah Kiat Pulp & Pa MAT 2,942 2,903 0.398 0.799 1 2 0.1 0.2 100.74 Indika Energy Tbk ENR 435 442 0.226 0.256 0 0 0.0 0.0 13.68 Indo Tambangraya Meg ENR 305 313 1.526 2.070 0 1 0.0 0.0 35.68 Intiland Development RES 7,551 7,467 0.026 0.024 0 0 0.0 0.0 -7.08 Japfa Comfeed Indone CST 3,348 3,471 0.096 0.107 0 0 0.0 0.0 12.19 Jaya Real Property RES 8,934 8,974 0.066 0.061 1 1 0.0 0.0 -8.57 Kawasan Industri Jab RES 22,779 22,553 0.021 0.019 0 0 0.0 0.0 -9.72 Kmi Wire and Cable IND 321 479 0.031 0.033 0 0 0.0 0.0 6.41 Krakatau Steel (Pers MAT 450 458 0.031 0.032 0 0 0.0 0.0 1.80 Lippo Cikarang RES 260 279 0.231 0.225 0 0 0.0 0.0 -2.71 Lippo Karawaci RES 21,231 20,988 0.036 0.035 1 1 0.1 0.0 -3.07 Malindo Feedmill Tbk CST 25 25 0.055 0.051 0 0 0.0 0.0 -6.11 Matahari Putra Prima CST 317 322 0.033 0.029 0 0 0.0 0.0 -12.79 Medco Energi Interna ENR 9,672 9,405 0.066 0.088 1 1 0.0 0.1 33.98 Metrodata Electronic INF 119 121 0.048 0.058 0 0 0.0 0.0 20.53 Mitra Pinasthika Mus CDI 149 151 0.071 0.059 0 0 0.0 0.0 -17.20 Mnc Investama Tbk CDI 24,896 25,290 0.007 0.008 0 0 0.0 0.0 23.73 Modernland Realty RES 6,712 6,819 0.022 0.025 0 0 0.0 0.0 16.65 Multipolar Tbk CDI 5,148 5,522 0.011 0.011 0 0 0.0 0.0 4.06 Nirvana Development RES 75 76 0.006 0.007 0 0 0.0 0.0 17.02 Nusantara Infrastruc IND 13,046 13,013 0.016 0.015 0 0 0.0 0.0 -6.93
51 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Indonesia (cont.) Pabrik Kertas Tjiwi MAT 70 145 0.215 0.501 0 0 0.0 0.0 132.87 Pan Brothers Tbk CDI 2,912 3,008 0.039 0.033 0 0 0.0 0.0 -17.48 Panin Financial Tbk FIN 15,259 15,501 0.018 0.018 0 0 0.0 0.0 -1.45 Paninvest Tbk FIN 2,311 2,259 0.065 0.088 0 0 0.0 0.0 35.50 Pembangunan Perumaha IND 1,440 1,806 0.195 0.190 0 0 0.0 0.0 -2.57 Perusahaan Perkebuna CST 4,011 3,892 0.105 0.094 0 0 0.0 0.0 -10.13 Pt Bank Danamon Indo FIN 2,672 2,714 0.512 0.499 1 1 0.1 0.1 -0.51 Pt Bank Negara Indon FIN 7,369 7,486 0.730 0.630 5 5 0.4 0.3 -11.10 Pt Bumi Serpong Dama RES 5,227 5,386 0.125 0.129 1 1 0.0 0.0 3.18 Pt Indofood Sukses M CST 4,777 4,853 0.562 0.523 3 3 0.2 0.2 -6.95 Pt Media Nusantara C CDI 369 604 0.095 0.103 0 0 0.0 0.0 8.52 Pt Sampoerna Agro Tb CST 896 910 0.189 0.180 0 0 0.0 0.0 -4.90 Pt Xl Axiata Tbk TEL 1,091 1,277 0.218 0.183 0 0 0.0 0.0 -16.10 Ramayana Lestari Sen CDI 3,305 3,358 0.088 0.098 0 0 0.0 0.0 10.87 Salim Ivomas Pratama CST 4,005 3,853 0.034 0.043 0 0 0.0 0.0 26.37 Selamat Sempurna Tbk CDI 2,672 2,591 0.093 0.098 0 0 0.0 0.0 5.61 Semen Baturaja (Pers MAT 733 700 0.280 0.298 0 0 0.0 0.0 6.45 Semen Indonesia (Per MAT 1,262 1,340 0.730 0.752 1 1 0.1 0.1 3.03 Sentul City Tbk RES 10,729 11,997 0.010 0.014 0 0 0.0 0.0 42.51 Smart Tbk CST 581 587 0.252 0.336 0 0 0.0 0.0 33.41 Sri Rejeki Isman Tbk CDI 9,486 9,636 0.028 0.024 0 0 0.0 0.0 -13.38 Summarecon Agung RES 243 453 0.070 0.066 0 0 0.0 0.0 -5.62
52 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Indonesia (cont.) Surya Semesta Intern IND 3,708 3,861 0.038 0.040 0 0 0.0 0.0 5.24 Tiga Pilar Sejahtera CST 2,491 2,811 0.035 0.046 0 0 0.0 0.0 32.50 Timah Tbk MAT 3,629 3,686 0.057 0.070 0 0 0.0 0.0 23.34 Tiphone Mobile Indon CDI 586 595 0.074 0.062 0 0 0.0 0.0 -16.23 Trias Sentosa MAT 25 26 0.028 0.028 0 0 0.0 0.0 1.71 Tunas Baru Lampung CST 1,745 1,803 0.090 0.091 0 0 0.0 0.0 0.96 Tunas Ridean CDI 2,650 2,692 0.083 0.099 0 0 0.0 0.0 18.61 Ultrajaya Milk Indus CST 2,140 1,940 0.095 0.115 0 0 0.0 0.0 21.00 Unggul Indah Cahaya MAT 24 24 0.252 0.275 0 0 0.0 0.0 9.21 United Tractors ENR 1,391 1,044 2.609 2.324 4 2 0.2 0.2 -10.92 Vale Indonesia Tbk MAT 2,004 1,764 0.213 0.203 0 0 0.0 0.0 -4.86 Visi Media Asia Tbk CDI 222 225 0.024 0.024 0 0 0.0 0.0 -1.45 Waskita Beton Precas MAT 386 649 0.030 0.030 0 0 0.0 0.0 -0.00 Wijaya Karya IND 885 1,699 0.114 0.122 0 0 0.0 0.0 6.81 Wijaya Karya Beton T MAT 397 605 0.037 0.037 0 0 0.0 0.0 3.87 42 41 2.8 2.7 2.14 Malaysia Aeon Co. (M) Bhd CDI 0 10 0.435 0.455 0 0 0.0 0.0 NA Affin Holdings Berha FIN 806 816 0.571 0.620 0 1 0.0 0.0 8.70 Airasia Bhd IND 1,327 1,365 0.828 1.016 1 1 0.1 0.1 22.74 Alliance Bank Malays FIN 1,182 1,200 1.008 1.130 1 1 0.1 0.1 12.06 Allianz Malaysia Ber FIN 2 2 3.336 3.004 0 0 0.0 0.0 -9.12
53 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Malaysia (cont.) Ammb Holdings Berhad FIN 1,616 1,611 1.090 1.006 2 2 0.1 0.1 -7.71 Ann Joo Resources Bh MAT 117 125 0.954 0.776 0 0 0.0 0.0 -18.68 Apm Automotive CDI 54 55 0.887 0.905 0 0 0.0 0.0 2.00 Batu Kawan Berhad MAT 154 156 4.843 4.679 1 1 0.1 0.0 -1.11 Benalec Holdings Ber IND 471 478 0.095 0.085 0 0 0.0 0.0 -9.42 Berjaya Assets Berha CDI 61 62 0.115 0.111 0 0 0.0 0.0 -3.25 Berjaya Corporation IND 2,747 2,791 0.083 0.081 0 0 0.0 0.0 -1.62 Berjaya Land Berhad CDI 990 1,005 0.089 0.078 0 0 0.0 0.0 -12.81 Bimb Hldgs Berhad FIN 65 69 1.087 1.016 0 0 0.0 0.0 -6.55 Boustead Hldgs Berha IND 960 964 0.714 0.657 1 1 0.0 0.0 -7.19 Boustead Plantations CST 129 138 0.408 0.434 0 0 0.0 0.0 9.01 Bumi Armada Berhad ENR 1,918 1,948 0.189 0.216 0 0 0.0 0.0 14.20 Can-One Bhd MAT 30 31 0.714 0.651 0 0 0.0 0.0 -8.77 Cb Industrial Produc IND 129 131 0.445 0.403 0 0 0.0 0.0 -7.81 Century Logistics Hl IND 0 5 0.250 0.190 0 0 0.0 0.0 NA Chin Teck Plantation CST 23 24 1.866 1.991 0 0 0.0 0.0 8.05 Cimb Group Holdings FIN 2,448 2,850 1.616 1.859 4 5 0.3 0.4 16.95 Coastal Contracts Bh IND 251 255 0.314 0.297 0 0 0.0 0.0 -5.26 Csc Steel Holdings MAT 156 158 0.381 0.354 0 0 0.0 0.0 -3.90 Cypark Resources Bhd IND 7 10 0.586 0.657 0 0 0.0 0.0 12.13 Daya Materials Berha MAT 541 0 0.019 0.008 0 0 0.0 0.0 -58.15 Dayang Enterprise Ho ENR 186 189 0.168 0.209 0 0 0.0 0.0 24.63
54 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Malaysia (cont.) Drb-Hicom Berhad CDI 783 795 0.452 0.631 0 1 0.0 0.0 39.50 Eastern & Oriental B RES 799 805 0.353 0.367 0 0 0.0 0.0 3.90 Eco World Developmen RES 245 265 0.341 0.259 0 0 0.0 0.0 -24.18 Ekovest Bhd IND 190 276 0.229 0.247 0 0 0.0 0.0 8.02 Engtex Group Berhad IND 0 32 0.272 0.264 0 0 0.0 0.0 NA Evergreen Fibreboard MAT 492 507 0.161 0.123 0 0 0.0 0.0 -23.54 Far East Holdings Be CST 30 31 2.194 2.203 0 0 0.0 0.0 0.39 Felda Global Venture CST 1,152 1,239 0.418 0.440 0 1 0.0 0.0 5.25 Gadang Holdings Bhd IND 129 149 0.274 0.238 0 0 0.0 0.0 -13.28 Genting Berhad CDI 1,672 1,761 2.273 2.257 4 4 0.3 0.3 0.06 Genting Malaysia Bhd CDI 1,512 1,536 1.391 1.267 2 2 0.1 0.1 -7.56 Glomac Bhd RES 454 507 0.137 0.119 0 0 0.0 0.0 -13.21 Goldis Berhad FIN 241 245 0.731 0.773 0 0 0.0 0.0 5.69 Guocoland (Malaysia) RES 209 213 0.279 0.256 0 0 0.0 0.0 -8.34 Hap Seng Consolidate IND 354 335 2.360 2.549 1 1 0.1 0.1 8.02 Hap Seng Plantations CST 252 255 0.630 0.644 0 0 0.0 0.0 4.60 Heveaboard Berhad MAT 0 40 0.294 0.202 0 0 0.0 0.0 NA Hiap Teck Venture MAT 458 560 0.101 0.107 0 0 0.0 0.0 5.90 Hibiscus Petroleum B ENR 558 0 0.221 0.212 0 0 0.0 0.0 -4.14 Hong Leong Financial FIN 211 216 4.418 4.979 1 1 0.1 0.1 12.70 Hong Leong Industrie IND 46 46 2.394 2.813 0 0 0.0 0.0 17.48 Hua Yang Berhad RES 172 175 0.151 0.128 0 0 0.0 0.0 -15.10
55 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Malaysia (cont.) I-Berhad RES 6 6 0.127 0.129 0 0 0.0 0.0 1.58 Ijm Corp Berhad IND 2,902 2,826 0.754 0.693 2 2 0.1 0.1 -8.06 Insas Berhad FIN 560 542 0.231 0.212 0 0 0.0 0.0 -7.32 Ioi Properties Group RES 395 412 0.457 0.419 0 0 0.0 0.0 -8.38 Iris Corp Berhad INF 1,593 1,618 0.046 0.049 0 0 0.0 0.0 7.46 Iskandar Waterfront IND 88 89 0.353 0.277 0 0 0.0 0.0 -21.71 Jaks Resources Bhd IND 261 265 0.368 0.377 0 0 0.0 0.0 2.52 Jaya Tiasa Hldgs MAT 410 414 0.267 0.220 0 0 0.0 0.0 -17.65 Jcy International Be INF 648 666 0.104 0.090 0 0 0.0 0.0 -11.69 Karur Vysya Bank FIN 165 172 1.962 1.540 0 0 0.0 0.0 -21.48 Keck Seng(Malaysia)b CST 187 190 1.137 1.060 0 0 0.0 0.0 -6.74 Kenanga Investment B FIN 151 154 0.135 0.153 0 0 0.0 0.0 13.27 Kian Joo Can Factory MAT 340 346 0.741 0.708 0 0 0.0 0.0 -4.44 Kimlun Corp Bhd IND 65 66 0.549 0.527 0 0 0.0 0.0 -3.86 Knm Group Berhad ENR 1,831 1,860 0.056 0.056 0 0 0.0 0.0 -0.02 Kretam Hldgs Berhad CST 257 261 0.133 0.220 0 0 0.0 0.0 64.69 Ksl Hldgs Berhad RES 651 662 0.264 0.246 0 0 0.0 0.0 -7.11 Kumpulan Fima Berhad IND 154 157 0.388 0.385 0 0 0.0 0.0 -0.70 Kumpulan Perangsang IND 180 182 0.321 0.326 0 0 0.0 0.0 1.41 Kwantas Corp CST 21 16 0.348 0.383 0 0 0.0 0.0 9.82 Land & General Berha RES 2,549 2,589 0.053 0.045 0 0 0.0 0.0 -14.84 Landmarks Berhad CDI 159 161 0.196 0.189 0 0 0.0 0.0 -3.93
56 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Malaysia (cont.) Lbs Bina Group Berha RES 285 637 0.264 0.228 0 0 0.0 0.0 -12.24 Lion Industries Corp MAT 106 164 0.351 0.228 0 0 0.0 0.0 -35.16 Magnum Berhad CDI 423 439 0.430 0.473 0 0 0.0 0.0 12.31 Mah Sing Group Bhd RES 1,027 1,064 0.358 0.259 0 0 0.0 0.0 -27.84 Malayan Banking Berh FIN 371 417 2.422 2.740 1 1 0.1 0.1 13.17 Malayan Flour Mills CST 236 245 0.472 0.396 0 0 0.0 0.0 -14.48 Malayan United Indus CDI 30 31 0.057 0.044 0 0 0.0 0.0 -22.67 Malaysia Airports Hl IND 120 72 2.172 2.288 0 0 0.0 0.0 5.34 Malaysia Building So FIN 724 813 0.257 0.290 0 0 0.0 0.0 12.68 Malaysia Marine and ENR 204 188 0.204 0.193 0 0 0.0 0.0 -2.08 Malaysian Bulk Carri IND 345 356 0.201 0.176 0 0 0.0 0.0 -12.70 Malaysian Pacific In INF 21 19 3.118 2.229 0 0 0.0 0.0 -28.53 Malaysian Resources IND 2,217 2,228 0.277 0.261 1 1 0.0 0.0 -5.65 Malton Berhad RES 318 335 0.231 0.208 0 0 0.0 0.0 -9.92 Matrix Concepts Hold RES 0 5 0.541 0.514 0 0 0.0 0.0 NA Mbm Resources CDI 197 200 0.544 0.633 0 0 0.0 0.0 17.24 Media Prima Berhad CDI 496 504 0.188 0.098 0 0 0.0 0.0 -47.69 Mega First Corporati UTL 121 128 0.907 0.835 0 0 0.0 0.0 -7.92 Misc Berhad IND 1,092 1,104 1.833 1.823 2 2 0.1 0.1 0.73 Mitrajaya Hldgs IND 12 29 0.153 0.159 0 0 0.0 0.0 3.72 Mitrajaya Hldgs IND 0 6 NA 0.094 0 0 0.0 0.0 NA Mk Land Holdings Ber RES 349 298 0.059 0.047 0 0 0.0 0.0 -21.53
57 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Malaysia (cont.) Mkh Berhad RES 316 321 0.403 0.372 0 0 0.0 0.0 -7.57 Mmc Corporation Berh IND 999 971 0.507 0.437 1 0 0.0 0.0 -13.75 Mnrb Holdings Berhad FIN 176 179 0.568 0.683 0 0 0.0 0.0 20.09 Mphb Capital Berhad FIN 0 4 0.301 0.334 0 0 0.0 0.0 NA Muda Hldgs Berhad MAT 0 5 0.329 0.486 0 0 0.0 0.0 NA Mudajaya Group Berha IND 313 318 0.230 0.187 0 0 0.0 0.0 -18.44 Muhibbah Engineering IND 310 319 0.702 0.763 0 0 0.0 0.0 8.68 Mulpha International FIN 157 160 0.640 0.553 0 0 0.0 0.0 -13.55 Naim Holdings Berhad RES 149 142 0.351 0.255 0 0 0.0 0.0 -27.42 Oriental Hldgs Berha CDI 263 265 1.618 1.611 0 0 0.0 0.0 0.47 Osk Holdings Berhad FIN 863 883 0.264 0.259 0 0 0.0 0.0 -2.22 Pacific & Orient FIN 25 30 0.263 0.282 0 0 0.0 0.0 9.43 Panasonic Manufactur CDI 23 22 9.627 8.945 0 0 0.0 0.0 -7.08 Pantech Group Holdin MAT 333 338 0.159 0.146 0 0 0.0 0.0 -7.54 Paramount Corp Berha RES 126 132 0.437 0.512 0 0 0.0 0.0 21.66 Parkson Holdings Ber CDI 483 491 0.127 0.109 0 0 0.0 0.0 -14.67 Perdana Petroleum Be ENR 56 57 0.080 0.067 0 0 0.0 0.0 -16.30 Ppb Group Berhad CST 447 404 4.260 4.948 2 2 0.1 0.1 16.16 Protasco Berhad IND 275 279 0.259 0.246 0 0 0.0 0.0 -2.76 Rhb Bank Berhard FIN 854 730 1.235 1.352 1 1 0.1 0.1 9.44 Rimbunan Sawit Bhd CST 510 518 0.095 0.081 0 0 0.0 0.0 -14.40 Salcon Berhad UTL 52 53 0.109 0.103 0 0 0.0 0.0 -4.88
58 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Malaysia (cont.) Sapura Energy Bhd ENR 2,534 2,931 0.175 0.141 0 0 0.0 0.0 -19.69 Sarawak Oil Palms Be CST 50 52 0.964 0.957 0 0 0.0 0.0 -0.74 Scomi Group Berhad ENR 1,458 710 0.019 0.031 0 0 0.0 0.0 -59.50 Selangor Dredging RES 101 103 0.255 0.209 0 0 0.0 0.0 -1.09 Selangor Properties RES 6 6 1.211 1.138 0 0 0.0 0.0 -3.60 Shangri-La Hotels(Ma CDI 45 39 1.253 1.383 0 0 0.0 0.0 10.41 Shl Consolidated Bhd RES 25 25 0.667 0.651 0 0 0.0 0.0 0.56 Sime Darby Berhad IND 0 86 0.546 0.683 0 0 0.0 0.0 NA Sp Setia RES 0 171 NA 0.228 0 0 0.0 0.0 NA Sp Setia RES 168 0 0.001 0.001 0 0 0.0 0.0 4.63 Sp Setia RES 476 483 0.988 0.773 0 0 0.0 0.0 -18.90 Star Media Group Ber CDI 120 130 0.408 0.297 0 0 0.0 0.0 -23.37 Sumatec Resources Be ENR 214 217 0.012 0.017 0 0 0.0 0.0 36.02 Sunway Bhd RES 1,451 1,363 0.403 0.393 1 1 0.0 0.0 -0.51 Supermax Corporation HTH 474 457 0.494 0.654 0 0 0.0 0.0 33.75 Suria Capital Hldgs IND 62 63 0.457 0.432 0 0 0.0 0.0 -5.55 Symphony Life Bhd RES 55 56 0.178 0.207 0 0 0.0 0.0 16.25 Ta Ann Hldgs Bhd MAT 175 181 0.904 0.804 0 0 0.0 0.0 -11.09 Ta Enterprise Berhad CDI 1,513 1,422 0.149 0.137 0 0 0.0 0.0 -8.34 Ta Global Bhd CDI 1,152 1,170 0.088 0.076 0 0 0.0 0.0 -13.06 Tan Chong Motor Hldg CDI 319 310 0.348 0.434 0 0 0.0 0.0 24.66 Tdm Berhad CST 1,027 1,034 0.111 0.090 0 0 0.0 0.0 -18.62
59 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Malaysia (cont.) Th Plantations Berha CST 67 68 0.284 0.225 0 0 0.0 0.0 -20.85 Thong Guan Industrie MAT 6 9 1.045 0.701 0 0 0.0 0.0 -32.97 Time Dotcom Bhd TEL 267 257 2.249 2.161 1 1 0.0 0.0 -1.89 Tiong Nam Logistics IND 118 120 0.331 0.266 0 0 0.0 0.0 -19.58 Tropicana Corporatio RES 629 639 0.226 0.230 0 0 0.0 0.0 3.61 Tsh Resources Berhad CST 0 7 0.408 0.375 0 0 0.0 0.0 NA Uem Edgenta Berhad IND 100 101 0.618 0.615 0 0 0.0 0.0 7.33 Uem Sunrise Bhd RES 1,527 1,548 0.257 0.261 0 0 0.0 0.0 1.61 Umw Hldgs Berhad CDI 72 71 1.285 1.585 0 0 0.0 0.0 23.34 Umw Oil & Gas Corp B ENR 1,239 1,259 0.075 0.080 0 0 0.0 0.0 6.34 Unisem (M) Bhd INF 350 367 0.902 0.631 0 0 0.0 0.0 -30.06 United Malacca Berha CST 72 73 1.609 1.595 0 0 0.0 0.0 0.09 United Plantations B CST 5 4 6.938 7.291 0 0 0.0 0.0 5.07 Uoa Development Bhd RES 588 597 0.591 0.626 0 0 0.0 0.0 5.94 Vivocom Intl Holding IND 167 170 0.032 0.019 0 0 0.0 0.0 -39.64 Vizione Holdings Ber RES 0 42 0.040 0.036 0 0 0.0 0.0 NA Wah Seong ENR 283 288 0.274 0.375 0 0 0.0 0.0 36.68 Wct Holdings Bhd IND 946 930 0.400 0.339 0 0 0.0 0.0 -15.39 Wtk Hldgs Berhad MAT 402 403 0.175 0.173 0 0 0.0 0.0 -1.27 Ynh Property Berhad RES 515 523 0.346 0.367 0 0 0.0 0.0 6.12 Ytl Corp UTL 6,274 6,180 0.339 0.349 2 2 0.1 0.1 3.10 Ytl Land & Develop RES 183 129 0.127 0.124 0 0 0.0 0.0 -2.48
60 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Malaysia (cont.) 44 45 3.0 3.0 1.82 Mexico Alfa S.A.B. De C.V. IND 2,636 2,654 1.105 1.276 3 3 0.2 0.2 18.72 Alpek Sab De Cv MAT 309 314 1.199 1.384 0 0 0.0 0.0 15.46 Axtel Sab De Cv TEL 587 486 0.193 0.224 0 0 0.0 0.0 15.98 Banco Santander Mx FIN 359 380 1.468 1.433 1 1 0.0 0.0 -1.52 Banco Santander S A FIN 132 141 7.310 7.170 1 1 0.1 0.1 -0.46 Bio Pappel S.A.B. MAT 33 33 1.185 0.977 0 0 0.0 0.0 -17.51 Cemex S A MAT 1,045 872 7.500 6.620 8 6 0.5 0.4 -11.73 Coca-Cola Femsa S.A. CST 107 107 7.000 6.587 1 1 0.1 0.0 -5.90 Coca-Cola Femsa Sa CST 10 10 69.620 66.430 1 1 0.0 0.0 -4.58 Consorcio Ara Sab CDI 697 708 0.392 0.392 0 0 0.0 0.0 -0.08 Corp Actinver Sab De FIN 8 8 0.705 0.756 0 0 0.0 0.0 7.19 Corp Interameri Entr CDI 115 117 0.948 0.980 0 0 0.0 0.0 3.43 Credito Real Sab De FIN 76 87 1.255 1.431 0 0 0.0 0.0 14.00 Dine S.A.B. De C.V. RES 77 78 0.588 0.575 0 0 0.0 0.0 -2.13 El Puerto De Liverpo CDI 7 19 6.353 7.423 0 0 0.0 0.0 16.85 Fomento Econ Mexic CST 85 86 93.900 91.430 8 8 0.5 0.5 -2.63 Gpo Aeroportuario De IND 9 3 102.760 99.640 1 0 0.1 0.0 -3.04 Grupo Aeromexico Sab IND 98 100 1.461 1.589 0 0 0.0 0.0 8.72 Grupo Carso Sab De C IND 511 500 3.319 3.508 2 2 0.1 0.1 5.70 Grupo Cementos De Ch MAT 189 185 4.675 5.357 1 1 0.1 0.1 14.59
61 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Mexico (cont.) Grupo Comercial Ched CST 209 216 1.844 2.111 0 0 0.0 0.0 14.47 Grupo Elektra Sab De FIN 19 20 35.808 27.944 1 1 0.0 0.0 -21.43 Grupo Famsa Sab De C CDI 207 203 0.539 0.635 0 0 0.0 0.0 17.86 Grupo Financiero Ban FIN 1,392 1,462 5.511 6.088 8 9 0.5 0.6 10.47 Grupo Financiero Inb FIN 1,117 1,137 1.642 1.648 2 2 0.1 0.1 0.41 Grupo Financiero Int FIN 63 64 4.467 4.845 0 0 0.0 0.0 8.46 Grupo Gigante Sab De CST 35 36 2.024 2.024 0 0 0.0 0.0 0.01 Grupo Herdez Sab De CST 73 74 2.335 2.520 0 0 0.0 0.0 7.92 Grupo Industrial Sal IND 101 103 1.721 1.576 0 0 0.0 0.0 -8.44 Grupo Kuo Sab De Cv IND 152 155 2.162 2.301 0 0 0.0 0.0 6.43 Grupo Mexico Sa MAT 2,937 2,984 3.318 3.317 10 10 0.7 0.7 0.75 Grupo Pochteca Sab D IND 5 5 0.451 0.513 0 0 0.0 0.0 13.87 Grupo Posadas Sab De CDI 25 25 1.942 1.698 0 0 0.0 0.0 -12.56 Grupo Rotoplas Sab D IND 1 1 1.544 1.562 0 0 0.0 0.0 1.19 Grupo Sanborns Sab D CDI 102 104 1.002 1.089 0 0 0.0 0.0 8.72 Grupo Simec Sab De C MAT 82 83 3.134 3.150 0 0 0.0 0.0 0.53 Grupo Sports World S CDI 22 22 0.933 0.999 0 0 0.0 0.0 7.13 Grupo Televisa Sab CDI 0 6 18.670 15.960 0 0 0.0 0.0 NA Grupo Televisa Sab CDI 0 7 3.761 3.168 0 0 0.0 0.0 NA Industrias Bachoco S CST 3 3 57.300 61.950 0 0 0.0 0.0 8.12 Industrias Bachoco S CST 136 139 4.785 5.221 1 1 0.0 0.0 9.11 Industrias Ch Sa De MAT 149 149 4.293 4.192 1 1 0.0 0.0 -2.36
62 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Mexico (cont.) Industrias Penoles S MAT 10 10 20.937 20.120 0 0 0.0 0.0 -3.90 Lacomer Sab De Cv CST 405 397 1.035 1.009 0 0 0.0 0.0 -2.50 Mexichem Sab De Cv MAT 754 777 2.485 3.048 2 2 0.1 0.2 23.39 Minera Frisco Sab De MAT 539 549 0.584 0.586 0 0 0.0 0.0 0.34 Nemak Sab De Cv CDI 115 168 0.728 0.818 0 0 0.0 0.0 14.37 Ohl Mexico Sab De Cv IND 0 1 1.668 1.870 0 0 0.0 0.0 NA Organizacion Cultiba CST 13 13 0.797 0.879 0 0 0.0 0.0 10.28 Organizacion Soriana CST 1,091 1,103 2.038 2.011 2 2 0.2 0.1 -1.36 Promotora Y Operador IND 5 16 9.948 9.902 0 0 0.0 0.0 -0.47 Qualitas Controlador FIN 117 117 1.866 2.757 0 0 0.0 0.0 47.77 Rassini Sab De Cv CDI 1 4 3.603 4.285 0 0 0.0 0.0 18.91 Rassini Sab De Cv CDI 0 2 1.804 2.239 0 0 0.0 0.0 NA Tv Azteca Sab De Cv CDI 713 728 0.179 0.142 0 0 0.0 0.0 -20.68 Vitro Sab De Cv MAT 113 115 3.601 3.289 0 0 0.0 0.0 -6.95 56 56 3.8 3.7 1.80 Panama Avianca Holdings Sa IND 92 101 0.988 1.070 0 0 0.0 0.0 8.30 0 0 0.0 0.0 8.30 Philippines Alliance Global Grou IND 2,553 2,670 0.321 0.253 1 1 0.1 0.0 -21.07 Alsons Consolidated UTL 1,564 1,589 0.027 0.025 0 0 0.0 0.0 -8.58 Apex Mining Co Inc MAT 30 31 0.031 0.032 0 0 0.0 0.0 4.31
63 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Philippines (cont.) Atlas Cons Mining & MAT 401 407 0.100 0.089 0 0 0.0 0.0 -11.22 Ayala Corp FIN 1 1 20.333 18.169 0 0 0.0 0.0 -10.64 Bank of the Philippi FIN 18 18 2.165 2.242 0 0 0.0 0.0 3.55 Bdo Unibank Inc FIN 1,019 1,001 3.285 2.664 3 3 0.2 0.2 -18.75 Belle Corporation RES 192 210 0.078 0.071 0 0 0.0 0.0 -5.66 Cebu Air Inc IND 185 191 2.003 1.813 0 0 0.0 0.0 -9.49 Century Properties G RES 2,112 2,146 0.010 0.008 0 0 0.0 0.0 -15.07 China Banking Corp FIN 60 64 0.667 0.675 0 0 0.0 0.0 1.13 Cosco Capital Inc CST 946 987 0.154 0.142 0 0 0.0 0.0 -8.05 East West Banking Co FIN 115 255 0.427 0.362 0 0 0.0 0.0 -15.11 Eei Corporation IND 112 140 0.240 0.206 0 0 0.0 0.0 -14.21 Emperador Inc CST 87 89 0.147 0.142 0 0 0.0 0.0 -3.29 Empire East Land Hld RES 1,810 1,839 0.013 0.012 0 0 0.0 0.0 -8.74 Energy Development ( UTL 158 233 0.115 0.107 0 0 0.0 0.0 -6.83 Filinvest Developmen RES 11 11 0.155 0.145 0 0 0.0 0.0 -6.80 Filinvest Land RES 13,386 13,261 0.038 0.032 1 0 0.0 0.0 -16.03 First Philippine Hld UTL 336 337 1.242 1.265 0 0 0.0 0.0 1.85 Global Ferronickel H MAT 22 45 0.053 0.046 0 0 0.0 0.0 -11.97 Gt Capital Holdings FIN 10 14 25.881 22.404 0 0 0.0 0.0 -13.21 Jg Summit Hldgs Inc IND 757 830 1.444 1.202 1 1 0.1 0.1 -16.80 Lopez Holdings Corpo UTL 2,577 2,609 0.112 0.099 0 0 0.0 0.0 -12.01 Lt Group Inc IND 1,266 1,286 0.375 0.360 0 0 0.0 0.0 -2.98
64 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Philippines (cont.) Megaworld Corp RES 9,623 9,776 0.103 0.090 1 1 0.1 0.1 -13.04 Metro Retail Stores CST 116 117 0.078 0.065 0 0 0.0 0.0 -16.84 Metropolitan Bank & FIN 455 579 1.942 1.644 1 1 0.1 0.1 -14.44 Nickel Asia Corporat MAT 407 470 0.127 0.117 0 0 0.0 0.0 -5.93 Pepsi-Cola Products CST 53 122 0.043 0.056 0 0 0.0 0.0 29.05 Petron Corp ENR 1,408 1,510 0.184 0.177 0 0 0.0 0.0 -1.85 Philex Mining Corp MAT 29 57 0.121 0.117 0 0 0.0 0.0 -3.22 Philippine National FIN 354 360 1.136 1.033 0 0 0.0 0.0 -9.05 Philippine Savings B FIN 91 92 1.746 1.639 0 0 0.0 0.0 -5.35 Phinma Corporation MAT 26 10 0.168 0.158 0 0 0.0 0.0 -1.28 Phinma Energy Corp UTL 1,923 1,954 0.031 0.029 0 0 0.0 0.0 -6.23 Phoenix Petroleum Ph ENR 109 111 0.260 0.234 0 0 0.0 0.0 -9.07 Rfm Corp CST 73 74 0.100 0.090 0 0 0.0 0.0 -7.94 Rizal Commercial Ban FIN 337 342 1.109 0.875 0 0 0.0 0.0 -21.09 Robinson''s Land Cor RES 2,070 2,637 0.412 0.382 1 1 0.1 0.1 -7.35 Robinsons Retail Hld CST 16 16 1.927 1.711 0 0 0.0 0.0 -11.19 San Miguel Corp IND 503 508 2.236 2.568 1 1 0.1 0.1 14.88 San Miguel Food and CST 5 0 10.597 11.557 0 0 0.0 0.0 9.40 Security Bank Corp ( FIN 132 135 5.036 4.600 1 1 0.0 0.0 -8.67 Soriano(A.)corp IND 469 476 0.141 0.127 0 0 0.0 0.0 -3.25 Ssi Group Inc CDI 198 201 0.066 0.053 0 0 0.0 0.0 -20.27 Sti Education System CDI 890 904 0.033 0.028 0 0 0.0 0.0 -14.30
65 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Philippines (cont.) Top Frontier Investm IND 47 48 5.729 5.290 0 0 0.0 0.0 -7.67 Travellers Internati CDI 210 214 0.080 0.080 0 0 0.0 0.0 0.00 Union Bank of the Ph FIN 330 336 1.736 1.725 1 1 0.0 0.0 1.45 Vista Land & Lifesca RES 5,674 5,571 0.120 0.125 1 1 0.0 0.0 3.82 16 15 1.1 1.0 -9.95 Poland Agora Sa CDI 41 41 4.156 4.233 0 0 0.0 0.0 1.87 Alior Bank Sa FIN 13 13 22.879 21.473 0 0 0.0 0.0 -6.15 Asseco Poland Sa INF 83 84 12.657 13.138 1 1 0.1 0.1 3.80 Bank Handlowy W Wars FIN 2 2 23.564 22.071 0 0 0.0 0.0 -6.34 Bank Millennium Sa FIN 329 337 2.573 2.397 1 1 0.1 0.1 -6.84 Ciech Sa MAT 8 9 16.548 17.225 0 0 0.0 0.0 4.09 Cyfrowy Polsat Sa CDI 6 21 7.154 7.281 0 0 0.0 0.0 1.77 Enea Sa UTL 181 184 3.310 2.692 1 0 0.0 0.0 -18.67 Firma Oponiarska Deb CDI 5 5 30.218 36.201 0 0 0.0 0.0 19.80 Getin Holding Sa FIN 223 230 0.397 0.336 0 0 0.0 0.0 -15.46 Getin Noble Bank Sa FIN 82 83 0.466 0.394 0 0 0.0 0.0 -15.46 Grupa Azoty Sa MAT 15 16 20.030 16.349 0 0 0.0 0.0 -18.38 Grupa Kety Sa MAT 5 4 117.849 100.137 1 0 0.0 0.0 -15.03 Grupa Lotos Sa ENR 115 116 16.605 15.415 2 2 0.1 0.1 -7.17 Impexmetal Sa MAT 285 287 1.243 1.285 0 0 0.0 0.0 3.32 Kernel Holding Sa CST 32 33 13.676 14.597 0 0 0.0 0.0 6.74
66 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Poland (cont.) Kghm Polska Miedz Sa MAT 106 95 32.002 25.347 3 2 0.2 0.2 -20.80 Lc Corp Sa RES 90 91 0.791 0.800 0 0 0.0 0.0 1.08 Lubelski Wegiel Bogd ENR 2 2 19.282 13.634 0 0 0.0 0.0 -29.29 Netia Sa TEL 330 335 1.548 1.550 1 1 0.0 0.0 0.13 Orbis Sa CDI 35 35 26.620 28.319 1 1 0.1 0.1 6.38 Pge Polska Grupa Ene UTL 804 782 3.468 2.893 3 2 0.2 0.1 -16.57 Pkp Cargo Sa IND 2 3 15.857 12.145 0 0 0.0 0.0 -23.41 Polski Koncern Nafto ENR 167 175 30.505 24.558 5 4 0.3 0.3 -19.49 Powszechna Kasa Oszc FIN 189 192 12.752 11.806 2 2 0.2 0.1 -7.42 Tauron Polska Energi UTL 802 832 0.878 0.709 1 1 0.0 0.0 -19.18 Trakcja Prkii Sa IND 42 41 2.084 1.979 0 0 0.0 0.0 -5.00 Vistula Group Sa CDI 4 4 1.261 1.363 0 0 0.0 0.0 8.16 23 20 1.6 1.3 -12.14 Russia Gazprom Public Joint ENR 2,333 2,353 4.410 4.866 10 11 0.7 0.8 10.34 Magnitogorsk Iron & MAT 66 57 9.740 9.940 1 1 0.0 0.0 2.05 Oao Gazprom ENR 0 6 4.410 4.930 0 0 0.0 0.0 NA Oil Company Lukoil P ENR 114 116 57.220 68.900 7 8 0.4 0.5 20.41 Pjsc Lukoil ENR 114 122 57.650 69.220 7 8 0.4 0.6 20.07 Rosneft Ojsc ENR 198 222 5.063 5.502 1 1 0.1 0.1 8.67 Rushydro Fed Hydro-G UTL 618 628 1.200 1.258 1 1 0.1 0.1 4.83 26 30 1.7 2.0 14.94
67 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Singapore China Xlx Fertiliser MAT 56 70 0.429 0.415 0 0 0.0 0.0 -3.07 Technovator Intl Ltd INF 156 165 0.310 0.266 0 0 0.0 0.0 -13.98 0 0 0.0 0.0 -10.36 South Africa Adcorp Hldgs IND 70 71 1.450 1.422 0 0 0.0 0.0 -1.92 Aeci MAT 123 126 8.078 9.748 1 1 0.1 0.1 20.68 African Oxygen MAT 4 5 2.262 2.616 0 0 0.0 0.0 15.68 African Phoenix Inve FIN 694 705 0.049 0.053 0 0 0.0 0.0 7.91 African Rainbow Mine MAT 130 132 10.843 8.558 1 1 0.1 0.1 -21.08 Alexander Forbes Prf FIN 178 218 0.557 0.608 0 0 0.0 0.0 11.89 Allied Electronics C IND 1 5 0.976 1.090 0 0 0.0 0.0 11.66 Alviva Holdings Ltd INF 68 71 1.490 1.806 0 0 0.0 0.0 21.19 Anglo American Plati MAT 23 28 28.551 27.345 1 1 0.0 0.1 -3.30 Anglogold Ashanti Lt MAT 105 112 10.389 9.496 1 1 0.1 0.1 -7.99 Arcelormittal South MAT 179 182 0.313 0.224 0 0 0.0 0.0 -28.45 Ascendis Health Limi HTH 8 8 1.430 0.836 0 0 0.0 0.0 -41.50 Aspen Pharmacare Hld HTH 0 24 22.415 21.898 0 1 0.0 0.0 NA Assore MAT 0 1 29.079 24.644 0 0 0.0 0.0 NA Austem Co Ltd CDI 17 19 5.642 3.781 0 0 0.0 0.0 -32.99 Aveng IND 538 541 0.162 0.084 0 0 0.0 0.0 -47.76 Barclays Africa Gr FIN 507 549 14.700 16.010 7 9 0.5 0.6 8.91 Barloworld IND 348 360 12.889 14.015 4 5 0.3 0.3 10.53
68 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Africa (cont.) Blue Label Telecoms IND 185 188 1.205 1.089 0 0 0.0 0.0 -9.66 Brait Se FIN 192 195 3.365 3.047 1 1 0.0 0.0 -9.46 Caxton & Ctp Publish CDI 231 235 0.965 0.865 0 0 0.0 0.0 -10.38 Consolidated Infrast IND 53 53 0.305 0.321 0 0 0.0 0.0 5.04 Datatec INF 268 426 4.615 1.755 1 1 0.1 0.0 -34.62 Drdgold Ltd MAT 403 409 0.338 0.279 0 0 0.0 0.0 -16.49 Enx Group Limited IND 27 28 1.167 1.045 0 0 0.0 0.0 -10.48 Eoh Holdings Limited INF 3 3 5.447 3.629 0 0 0.0 0.0 -33.38 Extract Group Limite MAT 3 0 0.485 0.632 0 0 0.0 0.0 30.43 Exxaro Resources ENR 174 181 13.126 9.198 2 2 0.2 0.1 -23.28 Gold Fields Ltd MAT 231 239 4.370 4.049 1 1 0.1 0.1 -6.36 Gold Fields Ltd New MAT 998 1,014 4.300 4.020 4 4 0.3 0.3 -5.71 Grindrod Limited IND 563 571 1.103 1.161 1 1 0.0 0.0 5.33 Group Five IND 128 130 1.042 0.667 0 0 0.0 0.0 -36.01 Harmony Gold Mining MAT 146 149 1.833 2.374 0 0 0.0 0.0 29.53 Harmony Gold Mng Ltd MAT 37 37 1.870 2.390 0 0 0.0 0.0 27.81 Hudaco Industries IND 10 10 11.632 13.820 0 0 0.0 0.0 21.67 Hulamin Ltd MAT 146 149 0.497 0.415 0 0 0.0 0.0 -13.85 Impala Platinum Hldg MAT 391 398 2.620 1.987 1 1 0.1 0.1 -24.18 Imperial Holdings CDI 165 168 21.174 19.686 3 3 0.2 0.2 -5.83 Investec Limited FIN 235 228 7.247 7.788 2 2 0.1 0.1 7.46 Invicta Hldgs IND 4 6 4.124 4.262 0 0 0.0 0.0 3.36
69 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Africa (cont.) Kap Industrial Hld IND 128 149 0.642 0.726 0 0 0.0 0.0 13.03 Kumba Iron Ore Ltd MAT 49 42 30.624 23.889 2 1 0.1 0.1 -18.40 Lewis Group Ltd CDI 133 134 2.136 3.562 0 0 0.0 0.0 72.32 Liberty Hldgs FIN 129 131 10.051 10.596 1 1 0.1 0.1 5.42 Life Healthcare Grou HTH 16 80 2.242 2.330 0 0 0.0 0.0 5.70 Merafe Ressources Li MAT 1,849 1,902 0.120 0.124 0 0 0.0 0.0 9.27 Metair Investments CDI 112 116 1.737 1.941 0 0 0.0 0.0 11.77 Mmi Holdings Limited FIN 1,323 1,344 1.696 1.855 2 2 0.2 0.2 9.36 Mpact Limited MAT 204 208 1.971 2.448 0 1 0.0 0.0 25.91 Mtn Group Ltd TEL 1,235 1,373 11.034 10.045 14 14 0.9 0.9 -5.50 Murray & Roberts Hld IND 522 528 0.978 1.165 1 1 0.0 0.0 19.06 Nampak MAT 303 320 1.310 1.283 0 0 0.0 0.0 -2.09 Nedbank Group Limite FIN 215 201 20.687 24.099 4 5 0.3 0.3 16.49 Novus Holdings Ltd IND 8 8 0.477 0.387 0 0 0.0 0.0 -18.89 Omnia Hldgs MAT 48 51 11.946 12.575 1 1 0.0 0.0 6.71 Peregrine Hldgs FIN 74 84 2.063 1.771 0 0 0.0 0.0 -14.13 Ppc Limited MAT 283 369 0.563 0.663 0 0 0.0 0.0 17.68 Raubex Group Ltd IND 162 167 1.611 1.713 0 0 0.0 0.0 6.37 Rcl Foods Limited CST 8 8 1.228 1.519 0 0 0.0 0.0 23.73 Reunert IND 51 55 5.824 6.286 0 0 0.0 0.0 13.38 Rhodes Food Group Ho CST 0 1 1.809 1.591 0 0 0.0 0.0 NA Royal Bafokeng Plati MAT 35 36 2.262 2.183 0 0 0.0 0.0 -3.46
70 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Africa (cont.) Sandown Capital Limi FIN 73 0 0.263 0.266 0 0 0.0 0.0 1.27 Sappi MAT 564 584 7.229 6.431 4 4 0.3 0.2 -8.80 Sasol MAT 310 306 34.586 34.031 11 10 0.7 0.7 -0.38 Sasol Ltd MAT 130 129 34.210 34.030 4 4 0.3 0.3 0.43 Sibanye Gold Limited MAT 343 392 1.278 0.993 0 0 0.0 0.0 -22.26 Sibanye Gold Ltd MAT 180 183 5.050 3.990 1 1 0.1 0.0 -20.99 Standard Bank Group FIN 1,278 1,298 15.805 18.456 20 24 1.4 1.6 16.78 Stefanutti Stock IND 39 5 0.178 0.169 0 0 0.0 0.0 -5.01 Steinhoff Internatio CDI 1,796 1,825 0.376 0.279 1 1 0.0 0.0 -25.85 Super Group CDI 335 357 3.340 3.048 1 1 0.1 0.1 -8.73 Telkom Sa Soc Ltd TEL 376 382 3.887 4.468 1 2 0.1 0.1 14.95 Tongaat-Hulett Ltd CST 113 119 9.259 8.579 1 1 0.1 0.1 -6.54 Trencor IND 116 120 3.877 3.190 0 0 0.0 0.0 -17.72 Tsogo Sun Holdings CDI 66 96 1.968 1.969 0 0 0.0 0.0 0.07 Vaal Reefs Expl & Mn MAT 206 218 10.190 9.490 2 2 0.1 0.1 -6.31 Wilson Bayly Holmes- IND 39 42 12.556 13.082 0 1 0.0 0.0 4.19 109 114 7.4 7.6 2.01 South Korea A-Jin Industry Co Lt CDI 2 5 3.373 3.565 0 0 0.0 0.0 5.69 Ace Technologies Cor INF 18 18 4.624 3.837 0 0 0.0 0.0 -17.01 Aj Rent A Car IND 14 15 9.257 12.102 0 0 0.0 0.0 30.74 Aps Holdings Corpora INF 2 3 7.015 6.905 0 0 0.0 0.0 -1.57
71 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Asia Cement Co Ltd MAT 1 1 102.751 93.630 0 0 0.0 0.0 -8.88 Asia Holdings Co Ltd MAT 1 1 106.954 111.643 0 0 0.0 0.0 4.38 Asia Paper Manufactu MAT 5 5 17.001 30.491 0 0 0.0 0.0 79.35 Asiana Airlines Inc IND 82 91 4.236 4.470 0 0 0.0 0.0 5.53 Auk Corp INF 28 29 2.592 2.674 0 0 0.0 0.0 3.15 Autech Corporation IND 1 0 10.415 12.009 0 0 0.0 0.0 15.30 Avaco Co Ltd INF 6 1 6.875 7.412 0 0 0.0 0.0 7.81 Bluecom Co Ltd INF 5 6 6.333 6.201 0 0 0.0 0.0 -2.08 Bnk Financial Group FIN 231 249 8.799 9.757 2 2 0.1 0.2 10.88 Bohae Brewery Co CST 2 2 0.912 1.018 0 0 0.0 0.0 11.65 Boo Kook Securities FIN 2 2 23.493 25.471 0 0 0.0 0.0 8.42 Bubang Co Ltd CDI 1 1 2.896 2.782 0 0 0.0 0.0 -3.94 Byucksan Corporation IND 20 21 3.736 3.574 0 0 0.0 0.0 -4.33 Capro Corpn MAT 7 4 7.080 9.194 0 0 0.0 0.0 29.85 Chinyang Holdings MAT 7 8 2.802 2.575 0 0 0.0 0.0 -8.10 Chokwang Paint Co Lt MAT 6 6 9.434 8.387 0 0 0.0 0.0 -11.10 Chongkundang Holding HTH 0 1 67.722 67.642 0 0 0.0 0.0 NA Chosun Refractories IND 1 1 81.360 79.557 0 0 0.0 0.0 -2.22 Cj Hello Co Ltd CDI 20 21 6.632 7.871 0 0 0.0 0.0 18.68 Ckd Bio Corp HTH 2 2 19.943 22.938 0 0 0.0 0.0 15.02 Cosmax Bti Inc CST 2 2 30.732 31.851 0 0 0.0 0.0 3.64 Crownhaitai Holdings CST 1 1 14.105 12.712 0 0 0.0 0.0 -9.87
72 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Dae Duck Electronics INF 27 29 9.210 7.834 0 0 0.0 0.0 -14.94 Dae Hyun Co CDI 25 26 2.536 2.289 0 0 0.0 0.0 -9.74 Dae Won Kang Up Co CDI 20 21 3.494 4.344 0 0 0.0 0.0 24.34 Dae-Il Corp CDI 5 5 7.491 6.989 0 0 0.0 0.0 -6.70 Daechang Co Ltd MAT 49 50 0.985 0.985 0 0 0.0 0.0 -0.04 Daedong Ind IND 12 13 8.967 6.914 0 0 0.0 0.0 -22.89 Daeduck Gds Co INF 19 19 25.594 16.043 0 0 0.0 0.0 -37.32 Daegu Department Sto CDI 5 5 11.256 9.382 0 0 0.0 0.0 -16.65 Daehan Flour Mill Co CST 1 1 155.528 159.959 0 0 0.0 0.0 2.85 Daehan Steel Co Lt MAT 17 16 8.846 8.566 0 0 0.0 0.0 -3.17 Daekyo CDI 14 14 7.660 7.468 0 0 0.0 0.0 -2.50 Daelim B&Co Co Ltd IND 1 1 5.960 5.451 0 0 0.0 0.0 -8.54 Daelim C&S Co Ltd MAT 1 1 11.863 9.851 0 0 0.0 0.0 -16.96 Daelim Industrial Co IND 22 23 76.970 69.800 2 2 0.1 0.1 -9.31 Daesang Corp CST 16 16 25.734 24.252 0 0 0.0 0.0 -5.76 Daesang Holdings Co CST 13 13 9.294 8.931 0 0 0.0 0.0 -3.90 Daesung Holdings Co UTL 3 3 7.417 7.393 0 0 0.0 0.0 -0.32 Daewon Sanup Co CDI 3 4 7.295 6.755 0 0 0.0 0.0 -7.41 Daewoo Engineering & IND 20 35 5.530 4.944 0 0 0.0 0.0 -10.59 Daewoo Shipbuilding& IND 4 8 12.984 25.894 0 0 0.0 0.0 99.43 Daeyoung Packaging C MAT 84 81 0.789 0.841 0 0 0.0 0.0 6.50 Daishin Securities C FIN 44 44 13.451 12.665 1 1 0.0 0.0 -5.84
73 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Daou Data Corp. FIN 5 5 9.621 12.712 0 0 0.0 0.0 32.13 Daou Technology Inc FIN 30 31 17.981 20.593 1 1 0.0 0.0 14.52 Dasan Networks Inc INF 10 8 6.333 5.751 0 0 0.0 0.0 -9.19 Dayou Automotive Sea CDI 7 7 0.985 1.112 0 0 0.0 0.0 12.81 Dayou Plus Co Ltd CDI 4 4 0.682 0.668 0 0 0.0 0.0 -2.04 Db Financial Investm FIN 32 32 3.741 3.865 0 0 0.0 0.0 3.32 Db Inc INF 37 38 0.615 0.777 0 0 0.0 0.0 26.38 Db Insurance Co Ltd FIN 0 2 66.508 60.981 0 0 0.0 0.0 NA Dgb Financial Group FIN 131 135 9.855 10.930 1 1 0.1 0.1 10.91 Display Tech Co INF 3 3 3.550 3.654 0 0 0.0 0.0 2.95 Dong A Eltek Co Ltd INF 0 1 12.143 9.663 0 0 0.0 0.0 NA Dong Ah Geological E IND 10 10 10.929 12.196 0 0 0.0 0.0 11.60 Dong Ah Tire & Rubbe CDI 4 1 9.481 13.275 0 0 0.0 0.0 40.02 Dong Bang Transport IND 23 23 1.340 1.562 0 0 0.0 0.0 16.53 Dong Il Corp CDI 1 1 50.161 47.378 0 0 0.0 0.0 -5.55 Dongil Industries MAT 1 2 62.958 70.269 0 0 0.0 0.0 11.61 Dongkook Industrial CDI 60 61 0.995 1.102 0 0 0.0 0.0 10.81 Dongkuk Industries MAT 30 31 3.676 3.528 0 0 0.0 0.0 -4.03 Dongkuk Steel Mill MAT 75 76 10.275 9.476 1 1 0.1 0.0 -7.78 Dongsung Corporation MAT 17 17 5.240 6.295 0 0 0.0 0.0 20.13 Dongwha Enterprise C MAT 1 1 29.564 32.789 0 0 0.0 0.0 10.91 Dongwha Pharm.Co.Ltd HTH 3 3 9.107 11.493 0 0 0.0 0.0 26.19
74 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Dongwon Development RES 26 28 4.652 4.391 0 0 0.0 0.0 -5.61 Dongwoo Farm To Tabl CST 1 1 3.806 3.851 0 0 0.0 0.0 1.18 Dongyang E&P Inc IND 3 3 11.489 10.695 0 0 0.0 0.0 -6.91 Doosan Corporation IND 8 8 105.553 99.916 1 1 0.1 0.1 -5.34 Doosan Engine Co Ltd IND 12 13 3.442 5.404 0 0 0.0 0.0 56.99 Doosan Heavy Industr IND 54 55 14.338 14.917 1 1 0.1 0.1 4.03 Doosan Infracore Co IND 176 179 8.117 9.072 1 2 0.1 0.1 11.76 Drb Holding Co Ltd CDI 9 9 7.342 6.774 0 0 0.0 0.0 -7.74 Dtr Automotive Corpo CDI 4 4 29.844 32.930 0 0 0.0 0.0 10.34 Dy Corporation IND 19 18 6.006 5.704 0 0 0.0 0.0 -5.03 E-Litecom Co Ltd INF 7 7 6.735 5.957 0 0 0.0 0.0 -11.54 E-Mart Co Ltd CST 16 16 253.141 256.591 4 4 0.3 0.3 1.36 Eagon Ind MAT 6 6 8.893 9.382 0 0 0.0 0.0 5.50 Easy Bio Inc CST 25 25 5.997 6.577 0 0 0.0 0.0 9.67 Elentec Co IND 13 13 4.185 3.649 0 0 0.0 0.0 -12.79 Eugene Corporation MAT 62 63 4.596 5.723 0 0 0.0 0.0 24.52 Eugene Investment & FIN 83 85 3.265 3.349 0 0 0.0 0.0 2.59 Eusu Holdings Co Ltd IND 5 5 5.932 6.792 0 0 0.0 0.0 14.51 Everdigm Corp. IND 2 2 8.706 7.777 0 0 0.0 0.0 -10.66 Farmstory Co Ltd CST 38 40 1.238 1.196 0 0 0.0 0.0 -3.35 Feelux Co IND 3 3 2.984 19.186 0 0 0.0 0.0 542.85 Fine Technix Co Ltd INF 15 17 2.326 2.420 0 0 0.0 0.0 4.07
75 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Fursys IND 2 2 30.825 29.459 0 0 0.0 0.0 -4.43 Gaon Cable Co.Ltd. IND 2 2 21.438 22.094 0 0 0.0 0.0 3.06 Global Display Co Lt INF 2 2 1.560 1.107 0 0 0.0 0.0 -29.03 Gmb Korea CDI 1 6 7.781 9.213 0 0 0.0 0.0 18.40 Golfzonnewdin Co Ltd CDI 19 20 4.969 5.329 0 0 0.0 0.0 7.23 Gs Engineering & Con IND 44 39 26.435 27.770 1 1 0.1 0.1 5.05 Gs Global Corp IND 60 51 2.611 3.457 0 0 0.0 0.0 32.42 Gs Holdings Corp ENR 54 54 58.101 58.261 3 3 0.2 0.2 0.27 Halla Corporation IND 12 12 3.806 3.809 0 0 0.0 0.0 0.07 Halla Holdings Corpo CDI 9 9 58.568 46.252 1 0 0.0 0.0 -21.03 Han Jin Transportati IND 9 9 24.287 22.047 0 0 0.0 0.0 -9.22 Hana Financial Group FIN 230 236 46.518 42.921 11 10 0.7 0.7 -7.73 Hana Micron Inc INF 9 11 5.007 4.982 0 0 0.0 0.0 -0.50 Handsome Corp CDI 10 11 29.377 31.147 0 0 0.0 0.0 6.02 Hanil Cement Co MAT 4 4 133.576 104.137 1 0 0.0 0.0 -22.04 Hanjin Heavy Ind & C IND 14 14 3.764 3.424 0 0 0.0 0.0 -9.03 Hanjin Heavy Industr IND 43 43 3.092 2.932 0 0 0.0 0.0 -5.18 Hanjin Kal Corp IND 29 30 17.094 19.608 0 1 0.0 0.0 14.71 Hankook Tire Co CDI 3 16 51.002 50.286 0 1 0.0 0.1 -1.40 Hankuk Carbon Co MAT 17 18 5.007 5.873 0 0 0.0 0.0 17.30 Hankuk Glass Industr IND 1 1 31.759 33.962 0 0 0.0 0.0 6.94 Hankuk Paper Manufac MAT 3 3 20.924 21.343 0 0 0.0 0.0 2.01
76 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Hanmiglobal Co Ltd IND 1 1 8.379 9.035 0 0 0.0 0.0 7.83 Hanshin Construction IND 4 5 21.204 18.951 0 0 0.0 0.0 -10.62 Hansol Holdings Co L MAT 47 44 4.264 4.400 0 0 0.0 0.0 3.19 Hansol Home Deco MAT 84 86 1.326 1.445 0 0 0.0 0.0 8.92 Hansol Paper Co Ltd MAT 13 15 13.077 14.917 0 0 0.0 0.0 14.07 Hanwha Chemical Corp MAT 134 136 29.518 27.958 4 4 0.3 0.3 -5.28 Hanwha Corporation IND 60 61 38.765 36.730 2 2 0.2 0.1 -5.25 Hanwha General Insur FIN 33 36 7.604 8.068 0 0 0.0 0.0 6.11 Hanwha Inv & Secs Co FIN 75 82 2.522 2.871 0 0 0.0 0.0 13.83 Hanwha Life Insuranc FIN 240 252 6.455 5.807 2 1 0.1 0.1 -10.03 Hanwha Techwin Co Lt IND 16 19 33.207 27.770 1 1 0.0 0.0 -16.37 Hanyang Securities C FIN 7 7 7.211 7.186 0 0 0.0 0.0 -0.34 Harim Co Ltd CST 2 2 2.914 3.302 0 0 0.0 0.0 13.31 Harim Holdings Co Lt IND 21 22 3.466 3.598 0 0 0.0 0.0 3.82 Heung-A Shipping IND 169 204 0.702 0.627 0 0 0.0 0.0 -10.66 Heungkuk Fire&Marine FIN 4 5 4.997 5.789 0 0 0.0 0.0 15.83 Hite Jinro Holdings CST 9 9 9.434 9.138 0 0 0.0 0.0 -3.14 Hmc Investment Secur FIN 20 18 10.182 9.898 0 0 0.0 0.0 -2.79 Hs R&A(Rubber & Auto CDI 38 39 2.447 2.148 0 0 0.0 0.0 -12.21 Humax Co Ltd INF 17 17 8.332 8.453 0 0 0.0 0.0 1.45 Huvis Corporation CDI 8 10 9.434 10.648 0 0 0.0 0.0 12.87 Hwa Shin Co CDI 19 19 4.012 3.729 0 0 0.0 0.0 -7.05
77 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Hwa Sung Industrial IND 8 8 14.152 14.120 0 0 0.0 0.0 -0.23 Hwacheon Machine Too IND 1 1 51.936 49.160 0 0 0.0 0.0 -5.34 Hwang Kum Steel & Te MAT 7 8 8.407 9.945 0 0 0.0 0.0 18.29 Hy Lok Corp IND 3 3 21.017 21.531 0 0 0.0 0.0 2.44 Hyosung Corp MAT 0 1 130.307 114.926 0 0 0.0 0.0 NA Hyundai Bng Steel Co MAT 12 12 10.929 10.554 0 0 0.0 0.0 -3.43 Hyundai Corp IND 7 8 18.215 17.122 0 0 0.0 0.0 -6.00 Hyundai Corporation CST 1 1 13.638 13.228 0 0 0.0 0.0 -3.00 Hyundai Department S CDI 15 15 97.613 86.875 1 1 0.1 0.1 -11.00 Hyundai Development IND 6 10 36.010 36.073 0 0 0.0 0.0 0.18 Hyundai Electric & E IND 1 1 106.487 77.399 0 0 0.0 0.0 -27.32 Hyundai Engineering CDI 5 6 6.352 6.108 0 0 0.0 0.0 -3.85 Hyundai Engineering& IND 74 79 33.908 40.998 3 3 0.2 0.2 20.91 Hyundai Green Food C CST 21 21 13.965 13.134 0 0 0.0 0.0 -5.95 Hyundai Hcn Co Ltd CDI 27 29 3.690 4.142 0 0 0.0 0.0 12.26 Hyundai Heavy Indust IND 6 17 89.483 123.839 1 2 0.0 0.1 38.39 Hyundai Home Shoppin CDI 2 2 112.559 99.916 0 0 0.0 0.0 -11.23 Hyundai Mipo Dockyar IND 8 9 73.514 93.817 1 1 0.0 0.1 27.62 Hyundai Mobis CDI 47 48 245.668 224.693 12 11 0.8 0.7 -8.54 Hyundai Motor Co CDI 118 117 145.719 134.628 17 16 1.2 1.0 -7.61 Hyundai Robotics Co IND 10 10 355.892 409.513 4 4 0.2 0.3 15.07 Hyundai Rotem Co Ltd IND 3 5 17.514 14.823 0 0 0.0 0.0 -15.37
78 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Hyundai Steel Compan MAT 91 93 54.738 47.847 5 4 0.3 0.3 -12.59 Hyundai Wia Corp CDI 16 16 60.716 51.881 1 1 0.1 0.1 -14.55 Il Jin Electric Ltd IND 19 18 4.147 4.578 0 0 0.0 0.0 10.39 Ilji Technology CDI 1 1 4.628 3.415 0 0 0.0 0.0 -26.22 Iljin Holdings IND 1 1 4.885 4.728 0 0 0.0 0.0 -3.21 Ilshin Spinning Co CDI 1 1 102.751 100.854 0 0 0.0 0.0 -1.85 Ilsung Pharmaceutica HTH 1 1 125.169 109.766 0 0 0.0 0.0 -12.31 Imarketkorea Inc IND 7 7 8.416 9.382 0 0 0.0 0.0 11.47 Industrial Bank of K FIN 184 200 15.366 14.401 3 3 0.2 0.2 -6.28 Intergis IND 4 4 2.821 3.312 0 0 0.0 0.0 17.40 Interpark Holdings C CDI 35 36 3.680 3.396 0 0 0.0 0.0 -7.72 Intops Co INF 13 14 9.995 9.429 0 0 0.0 0.0 -5.67 Inzi Controls Co Ltd CDI 7 9 5.306 6.792 0 0 0.0 0.0 28.02 Inzi Display Company INF 18 19 1.653 1.586 0 0 0.0 0.0 -4.10 Is Dongseo Co Ltd IND 1 2 32.507 29.083 0 0 0.0 0.0 -10.53 Isu Chemical MAT 14 13 14.245 11.352 0 0 0.0 0.0 -20.31 Isu Petasys Co Ltd INF 26 27 3.947 3.551 0 0 0.0 0.0 -10.02 Jb Financial Group C FIN 89 93 5.670 5.807 1 1 0.0 0.0 2.42 Kangnam Jevisco Co L MAT 3 3 34.982 30.631 0 0 0.0 0.0 -12.44 Kb Financial Group I FIN 28 28 59.222 56.947 2 2 0.1 0.1 -3.84 Kb Financial Group I FIN 215 218 58.510 57.940 13 13 0.9 0.8 -0.97 Kb Metal Co Ltd CDI 0 3 2.284 2.256 0 0 0.0 0.0 NA
79 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Kc Green Holdings Co IND 5 5 4.857 5.104 0 0 0.0 0.0 5.07 Kcc Corporation IND 4 4 355.892 324.139 1 1 0.1 0.1 -8.92 Kcc Engineering & Co IND 2 2 7.594 7.505 0 0 0.0 0.0 -1.17 Kec Corp INF 38 50 1.205 1.210 0 0 0.0 0.0 0.44 Keyang Electric Mach CDI 16 17 4.213 3.889 0 0 0.0 0.0 -7.69 Kg Chemical Corporat MAT 7 7 22.885 24.580 0 0 0.0 0.0 7.41 Kg Eco Technology Se UTL 23 23 3.886 3.861 0 0 0.0 0.0 -0.65 Kgmobilians Co Ltd INF 6 6 7.557 8.716 0 0 0.0 0.0 15.33 Kh Vatec INF 12 12 13.124 11.024 0 0 0.0 0.0 -16.01 Kia Motors Corp CDI 264 226 31.292 29.083 8 7 0.6 0.4 -7.06 Kisco Corp MAT 5 5 35.262 33.024 0 0 0.0 0.0 -6.35 Kisco Holdings Corp MAT 1 1 69.310 61.544 0 0 0.0 0.0 -11.20 Kishin Corporation IND 8 8 4.568 4.306 0 0 0.0 0.0 -2.70 Kiswire Ltd MAT 7 8 30.638 28.755 0 0 0.0 0.0 -6.15 Kjb Financial Group FIN 16 18 11.209 10.695 0 0 0.0 0.0 -4.59 Kleannara Co Ltd CST 8 8 3.886 3.851 0 0 0.0 0.0 -0.89 Kmh Co Ltd CDI 4 4 9.079 9.992 0 0 0.0 0.0 10.05 Kodaco CDI 2 4 2.606 2.772 0 0 0.0 0.0 6.38 Kolao Holdings CDI 12 12 4.418 4.832 0 0 0.0 0.0 9.35 Kolon Global Corpora IND 1 2 9.135 9.325 0 0 0.0 0.0 2.08 Kolon Industries Inc MAT 20 20 83.135 63.233 2 1 0.1 0.1 -23.94 Komelon Corporatio IND 2 3 9.107 8.087 0 0 0.0 0.0 -11.20
80 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Kooksoondang Brewe CST 8 9 5.306 5.723 0 0 0.0 0.0 7.86 Korea Alcohol Indust MAT 8 9 6.585 8.303 0 0 0.0 0.0 26.08 Korea Circuit Co INF 10 11 12.330 8.181 0 0 0.0 0.0 -33.65 Korea Electric Termi IND 1 1 62.491 50.286 0 0 0.0 0.0 -19.53 Korea Flange Ind Co CDI 5 5 9.248 10.414 0 0 0.0 0.0 12.61 Korea Investment Hol FIN 35 36 64.453 77.587 2 3 0.2 0.2 20.38 Korea Line Corp(1st IND 0 3 21.344 25.378 0 0 0.0 0.0 NA Korean Air Lines Co IND 9 14 31.619 31.710 0 0 0.0 0.0 0.29 Korean Reinsurance C FIN 75 78 10.275 10.648 1 1 0.1 0.1 3.63 Kortek Corpn INF 10 10 15.273 13.228 0 0 0.0 0.0 -13.39 Kpx Chemical Co Ltd MAT 1 2 65.294 57.792 0 0 0.0 0.0 -11.49 Kss Line Ltd IND 8 9 8.472 8.096 0 0 0.0 0.0 -4.44 Kt Skylife Co Ltd CDI 0 1 12.564 11.446 0 0 0.0 0.0 NA Kt Submarine Co IND 2 2 4.105 4.541 0 0 0.0 0.0 10.61 Ktb Inv&Secco Ltd FIN 53 49 3.638 4.658 0 0 0.0 0.0 28.03 Ktcs Corporation IND 21 22 2.120 2.130 0 0 0.0 0.0 0.44 Ktis Corp IND 7 9 2.821 2.627 0 0 0.0 0.0 -6.88 Kukdo Chemical Ind C MAT 4 4 58.942 56.197 0 0 0.0 0.0 -4.66 Kukdong Oil & Chemic MAT 2 2 3.176 3.096 0 0 0.0 0.0 -2.52 Kumho Electric Co Lt IND 3 3 6.679 7.027 0 0 0.0 0.0 5.21 Kumho Industrial Co IND 1 1 8.883 10.461 0 0 0.0 0.0 17.76 Kumho Tire Co Inc CDI 51 52 4.133 4.330 0 0 0.0 0.0 4.75
81 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Kumkang Kind Co Lt MAT 1 1 26.809 27.958 0 0 0.0 0.0 4.29 Kwang Dong Pharmaceu HTH 2 2 8.173 8.359 0 0 0.0 0.0 2.27 Kyeryong Constructio IND 3 3 16.160 17.309 0 0 0.0 0.0 7.11 Kyobo Securities FIN 21 21 8.472 9.166 0 0 0.0 0.0 8.19 Kyung Chang Industri CDI 2 2 3.176 3.279 0 0 0.0 0.0 3.24 Kyungbang CDI 11 11 12.984 13.181 0 0 0.0 0.0 1.52 Kyungin Synthetic Co MAT 9 9 5.418 5.910 0 0 0.0 0.0 9.09 L.G.International Co IND 23 25 25.361 25.612 1 1 0.0 0.0 0.99 Leadcorp (The) Inc CDI 12 12 5.595 5.732 0 0 0.0 0.0 2.45 Lee Ku Industrial Co MAT 6 6 1.999 2.177 0 0 0.0 0.0 8.88 Lf Corp CDI 20 21 29.237 26.128 1 1 0.0 0.0 -10.63 Lg Corp IND 54 55 85.003 80.777 5 4 0.3 0.3 -4.97 Lg Display Co Ltd INF 112 114 27.930 24.533 3 3 0.2 0.2 -12.16 Lg Electronics Inc CDI 123 123 99.015 102.730 12 13 0.8 0.8 3.75 Lg Hausys Ltd IND 5 5 90.701 73.459 0 0 0.0 0.0 -19.01 Lg Philip Lcd Co Ltd INF 303 308 13.760 12.100 4 4 0.3 0.2 -12.06 Lg Uplus Corp TEL 68 92 13.077 11.493 1 1 0.1 0.1 -12.12 Lms Co Ltd INF 4 4 8.799 7.740 0 0 0.0 0.0 -12.04 Lotte Corporation IND 11 11 60.810 59.574 1 1 0.0 0.0 -2.03 Lotte Fine Chemical MAT 9 7 60.623 66.329 1 0 0.0 0.0 9.41 Lotte Himart Co CDI 8 8 64.359 67.549 1 1 0.0 0.0 4.96 Lotte Non-Life Insur FIN 46 47 2.709 2.988 0 0 0.0 0.0 10.31
82 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Lotte Shopping Cente CDI 8 8 185.886 220.002 1 2 0.1 0.1 18.35 Ls Corp IND 14 15 67.722 69.894 1 1 0.1 0.1 3.21 Lumens Co Ltd INF 30 33 3.937 3.537 0 0 0.0 0.0 -10.17 Megastudy CDI 1 1 29.518 32.508 0 0 0.0 0.0 10.13 Melfas Inc INF 1 1 3.905 4.029 0 0 0.0 0.0 3.20 Meritz Financial Gro FIN 4 5 14.058 13.885 0 0 0.0 0.0 -1.23 Meritz Securities FIN 14 66 4.274 4.011 0 0 0.0 0.0 -6.15 Mirae Asset Daewoo C FIN 0 42 NA 4.316 0 0 0.0 0.0 NA Mirae Asset Daewoo C FIN 209 216 8.584 8.650 2 2 0.1 0.1 0.76 Mirae Asset Life Ins FIN 44 45 4.904 4.719 0 0 0.0 0.0 -3.77 Mk Electron Co INF 15 16 10.509 10.085 0 0 0.0 0.0 -4.03 Mntech MAT 19 19 4.577 4.025 0 0 0.0 0.0 -12.07 Mobase Co Ltd INF 7 10 5.091 4.747 0 0 0.0 0.0 -6.75 Moorim P&P Co Ltd MAT 25 25 4.236 6.117 0 0 0.0 0.0 44.40 Moorim Paper MAT 16 17 2.284 2.997 0 0 0.0 0.0 31.24 Motonic Corp CDI 7 7 8.594 9.203 0 0 0.0 0.0 7.10 Muhak Co CST 1 2 18.355 16.324 0 0 0.0 0.0 -11.06 Namsun Aluminium Co MAT 51 54 0.925 0.985 0 0 0.0 0.0 6.52 National Plastic MAT 9 9 4.876 5.319 0 0 0.0 0.0 9.09 Neowiz INF 3 3 11.443 18.623 0 0 0.0 0.0 62.75 Neowiz Holdings Corp INF 6 6 12.424 14.401 0 0 0.0 0.0 15.92 Nexen Corporation CDI 17 17 7.090 6.717 0 0 0.0 0.0 -5.25
83 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Nexen Tire Corp CDI 8 9 11.022 11.774 0 0 0.0 0.0 6.82 Nh Investment & Secu FIN 107 98 12.984 13.275 1 1 0.1 0.1 2.24 Nhn Entertainment Co INF 7 7 63.892 63.608 0 0 0.0 0.0 -0.44 Nongshim Co CST 2 2 330.671 287.081 1 1 0.0 0.0 -13.18 Nongshim Holdings Co CST 2 2 106.954 95.694 0 0 0.0 0.0 -10.53 Noroo Paint & Coatin MAT 8 8 8.108 7.543 0 0 0.0 0.0 -6.97 Oci Company Ltd MAT 13 14 127.038 147.293 2 2 0.1 0.1 15.94 Odtech INF 3 4 7.893 7.018 0 0 0.0 0.0 -11.09 Paik Kwang Industry MAT 2 2 2.471 3.298 0 0 0.0 0.0 33.47 Pan Ocean Co Ltd IND 81 82 4.923 4.879 0 0 0.0 0.0 -0.90 Papercorea Inc MAT 4 4 1.149 1.365 0 0 0.0 0.0 18.81 Poongsan Corporation MAT 26 27 44.370 36.823 1 1 0.1 0.1 -17.01 Poongsan Holdings MAT 5 5 49.040 47.941 0 0 0.0 0.0 -2.24 Posco MAT 47 47 310.588 305.376 15 14 1.0 0.9 -1.24 Posco MAT 112 114 78.130 78.850 9 9 0.6 0.6 0.92 Posco Coated&Color S MAT 2 3 26.622 25.049 0 0 0.0 0.0 -5.91 Posco Daewoo Corpora IND 31 36 16.954 21.484 1 1 0.0 0.1 26.72 Power Logics INF 21 23 5.633 4.503 0 0 0.0 0.0 -20.05 Ps Tec Ltd INF 0 1 4.867 5.395 0 0 0.0 0.0 NA Pyeong Hwa Automat CDI 16 14 9.808 9.344 0 0 0.0 0.0 -4.73 Rftech Co IND 14 15 4.530 4.259 0 0 0.0 0.0 -5.98 S&T Dynamics Co Ltd IND 27 25 6.987 7.337 0 0 0.0 0.0 5.00
84 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) S&T Holdings Co Ltd CDI 9 9 14.712 13.041 0 0 0.0 0.0 -11.36 S&T Motiv CDI 3 4 43.763 36.589 0 0 0.0 0.0 -16.39 S-Energy Co Ltd INF 2 2 6.922 6.436 0 0 0.0 0.0 -7.02 Sajo Industries CST 3 3 63.799 63.608 0 0 0.0 0.0 -0.30 Sam Ho Development C IND 14 14 4.269 5.029 0 0 0.0 0.0 17.80 Sam Hwa Paint Indust MAT 7 7 6.894 6.530 0 0 0.0 0.0 -5.28 Sam Young Chemical C MAT 19 17 1.065 0.999 0 0 0.0 0.0 -6.17 Sam Young Electronic INF 13 12 12.190 11.446 0 0 0.0 0.0 -6.11 Sambo Motors Co Ltd CDI 1 2 5.651 11.070 0 0 0.0 0.0 95.89 Samick Musical Instr CDI 33 38 2.195 2.017 0 0 0.0 0.0 -8.11 Samji Electronics INF 8 8 7.632 11.962 0 0 0.0 0.0 56.74 Samjin Lnd Company L INF 7 7 2.176 2.491 0 0 0.0 0.0 14.45 Samkee Automotive Co CDI 6 8 3.269 2.936 0 0 0.0 0.0 -10.18 Sammok S-Form Co Ltd IND 8 8 11.256 11.258 0 0 0.0 0.0 0.02 Sampyo Cement Co Ltd MAT 7 8 2.882 3.190 0 0 0.0 0.0 10.69 Samsung C&T Corporat IND 0 6 117.697 131.344 0 1 0.0 0.1 NA Samsung Card FIN 19 20 36.990 33.634 1 1 0.0 0.0 -9.07 Samsung Fire & Marin FIN 2 3 249.405 253.776 0 1 0.0 0.1 1.75 Samsung Heavy Indust IND 0 93 NA 1.829 0 0 0.0 0.0 NA Samsung Heavy Indust IND 174 177 6.114 7.243 1 1 0.1 0.1 18.47 Samsung Life Insuran FIN 45 52 116.295 108.828 5 6 0.4 0.4 -6.42 Samsung Sdi INF 26 27 191.023 180.599 5 5 0.3 0.3 -5.46
85 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Samsung Securities C FIN 44 48 34.188 36.917 2 2 0.1 0.1 7.98 Samt Co Ltd INF 0 3 1.836 1.815 0 0 0.0 0.0 NA Samyang Corporation CST 2 2 86.684 80.777 0 0 0.0 0.0 -6.82 Samyang Holdings Cor CST 4 4 113.960 91.941 0 0 0.0 0.0 -19.32 Samyang Tongsang CDI 2 2 38.438 43.484 0 0 0.0 0.0 13.13 Savezone I&C Corp CDI 7 7 4.596 3.917 0 0 0.0 0.0 -14.77 Sbs Media Holdings CDI 37 37 2.854 2.777 0 0 0.0 0.0 -2.69 Seah Besteel Corpora MAT 17 17 27.136 24.205 0 0 0.0 0.0 -10.80 Seah Holdings MAT 1 1 141.983 131.344 0 0 0.0 0.0 -7.49 Seah Steel Corp MAT 4 4 89.860 78.150 0 0 0.0 0.0 -13.03 Sebang Co Ltd IND 11 12 11.770 12.994 0 0 0.0 0.0 10.40 Sebang Global Batter CDI 6 7 33.394 30.491 0 0 0.0 0.0 -8.69 Sebo Manufacturing IND 0 1 11.583 11.540 0 0 0.0 0.0 NA Sejong Industrial Co CDI 11 10 7.080 7.646 0 0 0.0 0.0 7.99 Sejoong Co Ltd IND 6 6 2.821 2.444 0 0 0.0 0.0 -13.37 Sekonix Co Ltd INF 1 2 12.517 10.695 0 0 0.0 0.0 -14.55 Seo Han Co IND 11 16 2.120 2.139 0 0 0.0 0.0 0.88 Seohee Construction IND 179 182 1.191 1.055 0 0 0.0 0.0 -11.38 Seowonintech Co INF 0 1 7.669 6.548 0 0 0.0 0.0 NA Seoyon Co Ltd CDI 10 10 6.875 5.976 0 0 0.0 0.0 -13.07 Seoyon E-Hwa Co Ltd CDI 2 3 9.388 8.106 0 0 0.0 0.0 -13.65 Sg Corporation CDI 4 5 0.866 0.791 0 0 0.0 0.0 -8.66
86 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Sg&G Corporation IND 28 25 2.742 2.284 0 0 0.0 0.0 -16.67 Shin Young Securitie FIN 3 3 52.963 53.664 0 0 0.0 0.0 5.71 Shinhan Financial Gr FIN 277 296 46.145 42.875 13 13 0.9 0.8 -7.09 Shinhan Finl Group C FIN 113 115 46.400 42.400 5 5 0.4 0.3 -8.62 Shinsegae Co Ltd CDI 8 8 280.230 335.397 2 3 0.2 0.2 19.69 Shinsegae Engineerin IND 1 1 24.520 31.851 0 0 0.0 0.0 29.90 Shinsegae I & C Comp INF 1 1 76.970 167.464 0 0 0.0 0.0 117.57 Shinsung Tongsang Co CDI 66 67 0.995 1.145 0 0 0.0 0.0 15.05 Shinwha Intertek MAT 9 10 2.256 2.055 0 0 0.0 0.0 -8.92 Shinwon Corp CDI 14 14 1.980 2.533 0 0 0.0 0.0 27.91 Signetics Corp INF 59 60 1.228 1.224 0 0 0.0 0.0 -0.33 Silla Co Ltd CST 5 5 15.366 15.949 0 0 0.0 0.0 3.79 Simmtech Co INF 0 1 9.855 8.434 0 0 0.0 0.0 NA Simpac IND 6 6 3.858 4.170 0 0 0.0 0.0 8.10 Sindoh Co Ltd INF 4 4 59.222 62.482 0 0 0.0 0.0 5.51 Sjm Co Ltd CDI 1 1 4.577 4.156 0 0 0.0 0.0 -9.20 Sk Chemicals Co MAT 0 7 NA 98.508 0 1 0.0 0.0 NA Sk Discovery Co Ltd MAT 14 7 37.996 38.934 1 0 0.0 0.0 -25.37 Sk Gas Co ENR 4 4 87.992 90.065 0 0 0.0 0.0 2.36 Sk Innovation Co Ltd ENR 66 67 191.023 197.955 13 13 0.9 0.9 3.63 Sk Networks Company IND 137 140 6.212 5.423 1 1 0.1 0.1 -12.70 Sk Securities Co FIN 169 172 1.074 1.116 0 0 0.0 0.0 3.93
87 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Skc Co Ltd MAT 23 24 43.903 35.885 1 1 0.1 0.1 -18.26 Sl Corporation CDI 17 16 22.885 19.467 0 0 0.0 0.0 -14.94 Ssangyong Cement Ind MAT 24 24 17.421 22.422 0 1 0.0 0.0 28.71 Ssangyong Motor Co CDI 11 13 4.783 4.658 0 0 0.0 0.0 -2.60 Sun Kwang Co IND 2 2 17.421 17.544 0 0 0.0 0.0 0.71 Sunchang Corporation MAT 4 4 7.193 6.586 0 0 0.0 0.0 -8.43 Sung Kwang Bend Co L IND 12 12 9.322 10.789 0 0 0.0 0.0 15.73 Sungchang Enterprise MAT 24 25 2.447 2.589 0 0 0.0 0.0 5.80 Sungdo Engineering & IND 10 11 6.389 7.665 0 0 0.0 0.0 19.97 Sungshin Cement Indu MAT 21 21 5.268 5.104 0 0 0.0 0.0 -3.13 Sungwoo Hitech Co CDI 41 42 6.090 5.967 0 0 0.0 0.0 -2.03 T.K. Corpn IND 9 9 11.256 11.774 0 0 0.0 0.0 4.60 Tae Kyung Industrial MAT 9 10 4.857 5.441 0 0 0.0 0.0 12.03 Taewoong Co IND 9 9 18.075 18.201 0 0 0.0 0.0 0.70 Taeyoung Engineering IND 46 46 9.621 10.132 0 0 0.0 0.0 5.31 Tailim Packaging MAT 2 3 2.321 2.918 0 0 0.0 0.0 25.70 Tbh Global Co Ltd CDI 14 15 7.342 6.614 0 0 0.0 0.0 -9.91 The Willbes & Co Ltd CDI 64 65 1.513 1.656 0 0 0.0 0.0 9.43 Thinkware Systems Co CDI 6 6 9.575 11.305 0 0 0.0 0.0 18.07 Tk Chemical Corporat CDI 48 42 1.826 1.839 0 0 0.0 0.0 0.69 Tong Yang Moolsan Co IND 33 38 1.523 1.970 0 0 0.0 0.0 29.40 Tongyang Inc MAT 27 27 1.854 1.736 0 0 0.0 0.0 -6.39
88 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Tongyang Life Insura FIN 42 43 7.099 6.980 0 0 0.0 0.0 -1.68 Tongyang Pile Inc MAT 1 1 4.647 4.395 0 0 0.0 0.0 -5.42 Top Engineering Comp INF 10 10 6.361 5.629 0 0 0.0 0.0 -11.51 Tovis Co Ltd INF 9 10 7.342 7.477 0 0 0.0 0.0 1.84 Ts Corporation CST 5 5 22.885 21.297 0 0 0.0 0.0 -6.94 Ubiquoss Holdings In FIN 7 8 6.464 5.770 0 0 0.0 0.0 -10.74 Uil Co Ltd INF 6 6 6.081 5.882 0 0 0.0 0.0 -3.27 Uju Electronics Co L INF 4 5 12.190 12.056 0 0 0.0 0.0 -1.10 Unid Co Ltd MAT 6 6 43.482 47.472 0 0 0.0 0.0 9.17 Uniquest Coporation INF 2 1 9.023 7.562 0 0 0.0 0.0 -16.20 Visang Education Inc CDI 3 3 11.116 9.710 0 0 0.0 0.0 -12.65 Wiscom MAT 2 3 3.778 3.443 0 0 0.0 0.0 -8.87 Wonik Holdings Co Lt INF 11 13 7.370 6.896 0 0 0.0 0.0 -6.44 Woo Seong Feed Co CST 19 19 2.751 2.997 0 0 0.0 0.0 8.96 Woongjin Co Ltd IND 18 19 2.092 2.702 0 0 0.0 0.0 29.13 Woongjin Thinkbig CDI 6 8 6.623 6.548 0 0 0.0 0.0 -1.12 Woori Bank FIN 198 246 14.712 13.744 3 3 0.2 0.2 -6.58 Woori Bk FIN 1 1 44.690 41.370 0 0 0.0 0.0 -7.43 Woorison F&G Co Ltd CST 0 1 2.195 2.242 0 0 0.0 0.0 NA Wooshin Systems CDI 2 2 7.762 7.224 0 0 0.0 0.0 -6.94 Y G 1 Company IND 7 5 14.152 16.512 0 0 0.0 0.0 16.68 Yesco Co Ltd UTL 2 0 35.402 39.779 0 0 0.0 0.0 12.36
89 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Korea (cont.) Yong Pyong Resort Co CDI 0 3 9.761 7.055 0 0 0.0 0.0 NA Yoo Sung Enterprise CDI 15 15 3.325 3.143 0 0 0.0 0.0 -5.49 Yoosung T&S Co Ltd IND 15 15 3.610 3.119 0 0 0.0 0.0 -13.60 Youlchon Chemical Co MAT 10 10 19.803 15.105 0 0 0.0 0.0 -23.73 Young Poong Precisio IND 10 10 8.164 7.984 0 0 0.0 0.0 -2.21 Youngone Corp CDI 2 2 29.424 26.316 0 0 0.0 0.0 -10.56 Youngone Holdings CDI 1 1 51.843 51.600 0 0 0.0 0.0 -0.47 Yu Hwa Securities Co FIN 2 2 14.852 13.650 0 0 0.0 0.0 -8.09 Yuanta Securities Ko FIN 42 42 3.606 4.198 0 0 0.0 0.0 16.44 Zeus Co Ltd INF 4 4 15.740 15.011 0 0 0.0 0.0 -4.63 257 262 17.4 17.3 -2.23 Taiwan Ability Enterprise C CDI 214 220 0.669 0.671 0 0 0.0 0.0 0.27 Acbel Polytech Inc IND 70 72 0.748 0.707 0 0 0.0 0.0 -5.51 Acer Inc INF 2,172 1,987 0.812 0.852 2 2 0.1 0.1 5.02 Aces Electronic Co. INF 98 99 0.847 0.902 0 0 0.0 0.0 6.52 Acon Holding Inc 163 166 0.315 0.261 0 0 0.0 0.0 -17.11 Advanced Internation CDI 29 31 1.193 1.555 0 0 0.0 0.0 30.38 Advanced Optoelectro INF 16 16 1.243 1.176 0 0 0.0 0.0 -5.38 Advancetek Enterpric RES 10 10 0.628 0.679 0 0 0.0 0.0 8.07 Agv Products CST 462 459 0.252 0.255 0 0 0.0 0.0 1.38 Aimcore Technology C INF 57 58 0.798 0.719 0 0 0.0 0.0 -9.97
90 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Alcor Micro Corp INF 39 40 0.679 0.650 0 0 0.0 0.0 -4.25 Allis Electric IND 94 95 0.398 0.430 0 0 0.0 0.0 8.09 Alpha Networks Inc INF 344 349 0.800 0.806 0 0 0.0 0.0 0.78 Altek Corp CDI 255 273 1.059 0.995 0 0 0.0 0.0 -6.04 Ambassador Hotel CDI 93 94 0.781 0.796 0 0 0.0 0.0 1.84 Ampire Co INF 26 32 0.570 0.617 0 0 0.0 0.0 8.39 Ampoc Far East Co INF 105 107 0.889 0.899 0 0 0.0 0.0 1.10 Amtran Technology CDI 821 834 0.549 0.477 0 0 0.0 0.0 -13.23 Apacer Technology In INF 29 29 1.297 1.377 0 0 0.0 0.0 6.16 Apcb Inc INF 149 151 0.948 0.875 0 0 0.0 0.0 -7.71 Apex Medical HTH 2 2 1.006 0.984 0 0 0.0 0.0 -2.20 Apex Science & Engin IND 16 16 0.292 0.305 0 0 0.0 0.0 4.29 Arcadyan Technology INF 145 148 1.744 1.876 0 0 0.0 0.0 7.57 Ardentec Corporation INF 361 301 1.262 1.308 0 0 0.0 0.0 3.69 Asia Cement Corp MAT 1,766 1,726 0.948 0.972 2 2 0.1 0.1 2.61 Asia Pacific Telecom TEL 526 623 0.335 0.312 0 0 0.0 0.0 -6.83 Asia Polymer MAT 389 384 0.649 0.616 0 0 0.0 0.0 -5.08 Asia Vital Component INF 328 333 1.089 1.025 0 0 0.0 0.0 -5.81 Asrock Incorporation INF 8 9 2.305 3.028 0 0 0.0 0.0 31.37 Asustek Computer Inc INF 222 256 9.392 9.415 2 2 0.1 0.2 0.24 Au Optronics Corp INF 683 693 4.160 4.570 3 3 0.2 0.2 9.86 Au Optronics Corpora INF 4,284 4,052 0.417 0.468 2 2 0.1 0.1 12.35
91 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Audix Corp IND 95 95 1.443 1.494 0 0 0.0 0.0 3.49 Avermedia Technologi CDI 174 177 0.457 0.442 0 0 0.0 0.0 -3.19 Avision Inc INF 115 117 0.231 0.239 0 0 0.0 0.0 3.40 Avy Precision Techno INF 45 46 2.147 1.732 0 0 0.0 0.0 -19.34 Bank of Kaohsiung Lt FIN 475 472 0.310 0.322 0 0 0.0 0.0 3.94 Benq Materials Corpo INF 76 77 0.672 0.662 0 0 0.0 0.0 -1.51 Bes Engineering IND 1,470 1,494 0.276 0.274 0 0 0.0 0.0 -0.43 Biostar Microtec Int INF 164 166 0.442 0.761 0 0 0.0 0.0 72.30 Boardtek Electronics INF 10 0 1.211 0.940 0 0 0.0 0.0 -22.43 Bright Led Electroni INF 112 114 0.585 0.604 0 0 0.0 0.0 3.24 C Sun Manufacturing IND 123 70 0.926 0.912 0 0 0.0 0.0 -1.46 Cameo Communications INF 191 194 0.266 0.274 0 0 0.0 0.0 2.96 Capital Futures Corp FIN 13 13 1.521 2.192 0 0 0.0 0.0 44.13 Capital Securities FIN 2,010 1,980 0.390 0.388 1 1 0.1 0.1 -0.58 Career Technology Co INF 169 163 1.327 1.468 0 0 0.0 0.0 10.59 Carnival (Tw) CDI 361 367 0.158 0.156 0 0 0.0 0.0 -1.40 Cathay Chemical MAT 61 62 0.568 0.610 0 0 0.0 0.0 7.50 Cathay Financial Hld FIN 3,752 4,320 1.798 1.780 7 8 0.5 0.5 -0.99 Cathay Real Estate D RES 732 721 0.553 0.533 0 0 0.0 0.0 -3.52 Celxpert Energy Corp INF 25 25 1.317 1.355 0 0 0.0 0.0 2.84 Central Reinsurance FIN 122 126 0.588 0.653 0 0 0.0 0.0 11.10 Chain Chon Industria MAT 38 39 0.593 0.502 0 0 0.0 0.0 -15.28
92 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Chainqui Constructio IND 84 77 0.728 1.022 0 0 0.0 0.0 40.48 Champion Building Ma IND 422 393 0.281 0.282 0 0 0.0 0.0 0.48 Chang Hwa Commercial FIN 6,910 6,543 0.556 0.583 4 4 0.3 0.3 4.84 Chang Wah Electromat INF 4 4 4.839 5.145 0 0 0.0 0.0 6.32 Channel Well Technol INF 34 0 1.179 1.080 0 0 0.0 0.0 -8.41 Charoen Pokphand Ent CST 73 10 2.157 2.250 0 0 0.0 0.0 4.29 Chc Healthcare Group HTH 21 24 1.195 1.161 0 0 0.0 0.0 -2.82 Cheng Loong MAT 937 951 0.548 0.561 1 1 0.0 0.0 2.38 Cheng Uei Precision INF 499 507 1.680 1.406 1 1 0.1 0.0 -16.31 Chenming Mold Indust INF 35 36 0.751 0.696 0 0 0.0 0.0 -7.30 Chi Mei Materials Te INF 196 199 0.408 0.389 0 0 0.0 0.0 -4.66 Chia Chang Co Ltd IND 121 120 0.775 0.792 0 0 0.0 0.0 2.28 Chia Hsin Cement Cor MAT 505 487 0.449 0.389 0 0 0.0 0.0 -13.23 Chien Kuo Constructi IND 306 305 0.386 0.384 0 0 0.0 0.0 -0.60 Chin-Poon Industrial INF 195 199 1.952 1.766 0 0 0.0 0.0 -9.53 China Air Lines IND 3,381 3,435 0.391 0.365 1 1 0.1 0.1 -6.70 China Bills Finance FIN 174 188 0.517 0.513 0 0 0.0 0.0 -0.92 China Chemical & Pha HTH 305 283 0.627 0.671 0 0 0.0 0.0 6.99 China Development Fi FIN 9,502 9,096 0.341 0.357 3 3 0.2 0.2 4.58 China Electric Manuf IND 301 306 0.335 0.377 0 0 0.0 0.0 12.61 China General Plasti MAT 414 189 1.089 1.080 0 0 0.0 0.0 -0.77 China Glaze Co MAT 134 130 0.422 0.429 0 0 0.0 0.0 1.66
93 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) China Life Insurance FIN 1,025 1,041 1.006 1.029 1 1 0.1 0.1 2.23 China Manmade Fibers MAT 975 991 0.341 0.329 0 0 0.0 0.0 -3.67 China Metal Products MAT 321 319 0.954 1.012 0 0 0.0 0.0 6.02 China Motor Co CDI 451 462 0.874 0.947 0 0 0.0 0.0 8.34 China Petrochemical MAT 1,933 1,963 0.516 0.425 1 1 0.1 0.1 -17.55 China Steel Corp MAT 7,305 8,382 0.832 0.806 6 7 0.4 0.4 -3.09 China Steel Structur IND 109 95 0.660 0.892 0 0 0.0 0.0 35.05 China Synthetic Rubb MAT 632 589 1.474 1.657 1 1 0.1 0.1 12.42 China Wire & Cable IND 117 110 0.961 0.912 0 0 0.0 0.0 -5.07 Chinese Maritime Tra IND 100 104 0.964 1.001 0 0 0.0 0.0 3.84 Chipbond Technology INF 501 307 1.895 2.308 1 1 0.1 0.0 21.79 Chipmos Technologies INF 88 111 0.891 0.818 0 0 0.0 0.0 -8.14 Chipmos Technologies INF 3 3 17.650 15.850 0 0 0.0 0.0 -10.20 Chong Hong Construct RES 9 0 2.574 2.919 0 0 0.0 0.0 13.39 Chun Yu Works & Co IND 245 249 0.482 0.633 0 0 0.0 0.0 31.22 Chun Yuan Steel Indu MAT 490 493 0.385 0.410 0 0 0.0 0.0 6.52 Chung Hsin Electric IND 415 422 0.748 0.755 0 0 0.0 0.0 0.92 Chung Hung Steel Co MAT 417 424 0.417 0.398 0 0 0.0 0.0 -4.52 Chung Hwa Pulp MAT 452 464 0.393 0.391 0 0 0.0 0.0 -0.55 Chunghwa Picture Tub INF 3,874 3,935 0.078 0.079 0 0 0.0 0.0 1.18 Chyang Sheng Dyeing CDI 7 7 0.820 0.830 0 0 0.0 0.0 1.23 Clevo Co INF 105 107 0.975 1.015 0 0 0.0 0.0 4.17
94 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Cmc Magnetics Corp INF 2,285 2,143 0.143 0.157 0 0 0.0 0.0 9.99 Coasia Microelectron INF 32 32 0.504 0.458 0 0 0.0 0.0 -9.16 Collins CDI 151 148 0.376 0.377 0 0 0.0 0.0 0.24 Compal Electronics I INF 5,278 4,976 0.716 0.679 4 3 0.3 0.2 -5.12 Compeq Manufacturing INF 736 0 1.290 1.012 1 0 0.1 0.0 -21.59 Concord Securities C FIN 132 135 0.308 0.315 0 0 0.0 0.0 2.06 Continental Hldgs Co IND 467 438 0.546 0.499 0 0 0.0 0.0 -8.61 Contrel Technology C INF 29 36 0.539 0.506 0 0 0.0 0.0 -6.20 Coretronics Corp INF 488 499 1.146 1.478 1 1 0.0 0.0 29.00 Coxon Precise Indust INF 146 144 1.122 1.036 0 0 0.0 0.0 -7.72 Creative Sensor Inc INF 36 38 0.870 0.935 0 0 0.0 0.0 7.38 Csbc Corporation Tai IND 467 474 0.380 0.629 0 0 0.0 0.0 65.74 Ctbc Financial Holdi FIN 10,311 11,487 0.689 0.727 7 8 0.5 0.6 5.55 Cvilux Corporation IND 5 5 1.055 0.989 0 0 0.0 0.0 -6.23 Cx Tech Corpn INF 3 3 0.885 0.760 0 0 0.0 0.0 -14.21 Cyberlink Corp INF 3 3 2.245 2.144 0 0 0.0 0.0 -4.51 Cybertan Technology INF 73 74 0.610 0.638 0 0 0.0 0.0 4.59 D-Link Corp INF 770 702 0.356 0.391 0 0 0.0 0.0 9.77 Da-Cin Construction IND 177 174 0.605 0.707 0 0 0.0 0.0 16.81 Da-Li Construction C RES 7 7 1.174 1.212 0 0 0.0 0.0 3.23 Danen Technology Cor INF 61 62 0.230 0.213 0 0 0.0 0.0 -7.35 Darfon Electronics C INF 268 273 0.996 1.056 0 0 0.0 0.0 6.02
95 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Darwin Precisions Co INF 425 432 1.245 0.878 1 0 0.0 0.0 -29.48 Delpha Construction RES 121 123 0.511 0.514 0 0 0.0 0.0 0.72 Depo Auto Parts Ind CDI 20 23 3.028 2.898 0 0 0.0 0.0 -4.28 Dimerco Express Corp IND 14 14 0.706 0.734 0 0 0.0 0.0 4.01 Dynamic Electronics INF 320 310 0.397 0.339 0 0 0.0 0.0 -14.54 Dynapack Internation INF 36 39 1.507 1.442 0 0 0.0 0.0 -4.31 E Ink Holdings Inc. INF 361 0 1.613 1.715 1 0 0.0 0.0 6.32 E Sun Financial Hold FIN 6,996 7,009 0.635 0.669 4 5 0.3 0.3 5.30 E-Ton Solar Tech. Co INF 265 270 0.283 0.196 0 0 0.0 0.0 -30.70 Edimax Technology Co INF 225 229 0.327 0.304 0 0 0.0 0.0 -6.96 Edison Opto Corporat INF 102 104 0.517 0.540 0 0 0.0 0.0 4.38 Edom Technology Co INF 55 56 0.637 0.628 0 0 0.0 0.0 -1.44 Elite Semiconductor INF 43 44 1.437 1.516 0 0 0.0 0.0 5.52 Elitegroup Computer INF 364 370 0.667 0.590 0 0 0.0 0.0 -11.56 Emerging Display Tec INF 3 3 0.336 0.342 0 0 0.0 0.0 1.65 En Tie Commercial Ba FIN 170 175 0.447 0.468 0 0 0.0 0.0 4.75 Eng Electric Co IND 135 137 0.245 0.231 0 0 0.0 0.0 -5.78 Epileds Technologies INF 0 7 0.733 0.792 0 0 0.0 0.0 NA Epistar Corp INF 879 893 1.517 1.485 1 1 0.1 0.1 -2.12 Eternal Materials Co MAT 132 124 1.035 1.012 0 0 0.0 0.0 -2.24 Etron Technology Inc INF 48 0 0.526 0.410 0 0 0.0 0.0 -22.07 Eva Airways IND 1,498 1,557 0.533 0.511 1 1 0.1 0.1 -4.05
96 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Everest Textile CDI 276 281 0.475 0.442 0 0 0.0 0.0 -6.95 Evergreen Intl Stora IND 662 658 0.475 0.451 0 0 0.0 0.0 -5.15 Evergreen Marine Cor IND 1,557 1,699 0.549 0.518 1 1 0.1 0.1 -5.74 Everlight Chemical MAT 36 37 0.637 0.610 0 0 0.0 0.0 -4.13 Everlight Electronic INF 169 172 1.510 1.540 0 0 0.0 0.0 1.95 Excelsior Medical Co HTH 104 99 1.509 1.655 0 0 0.0 0.0 9.68 Ezconn Corporation INF 13 14 1.418 1.314 0 0 0.0 0.0 -7.37 Far Eastern Departme CDI 717 759 0.504 0.557 0 0 0.0 0.0 10.57 Far Eastern Internat FIN 2,248 2,299 0.321 0.336 1 1 0.0 0.1 4.95 Far Eastern New Cent IND 1,446 1,759 0.901 0.909 1 2 0.1 0.1 0.92 Farglory Free Trade IND 94 94 0.566 0.626 0 0 0.0 0.0 10.54 Farglory Land Develo RES 239 253 1.079 1.135 0 0 0.0 0.0 5.24 Federal Corp CDI 534 535 0.455 0.436 0 0 0.0 0.0 -4.34 Feng Hsin Steel Co L MAT 16 0 1.872 2.044 0 0 0.0 0.0 9.21 First Copper Technol MAT 201 204 0.465 0.389 0 0 0.0 0.0 -16.36 First Financial Hold FIN 10,828 9,995 0.657 0.695 7 7 0.5 0.5 5.72 First Hotel CDI 129 131 0.523 0.520 0 0 0.0 0.0 -0.56 First Insurance Co FIN 281 282 0.487 0.466 0 0 0.0 0.0 -4.27 First Steamship IND 677 688 0.302 0.290 0 0 0.0 0.0 -4.06 Focaltech Systems Co INF 65 66 1.045 1.092 0 0 0.0 0.0 4.52 Forest Water Environ IND 2 2 2.077 2.439 0 0 0.0 0.0 17.42 Formosa Advanced Tec INF 164 166 1.057 1.140 0 0 0.0 0.0 7.90
97 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Formosa Chemical & F MAT 174 37 3.461 3.721 1 0 0.0 0.0 7.51 Formosa Laboratories HTH 17 25 2.319 2.154 0 0 0.0 0.0 -7.11 Formosa Taffeta Co CDI 645 637 1.052 1.103 1 1 0.0 0.0 4.83 Formosan Rubber Grou MAT 418 407 0.546 0.513 0 0 0.0 0.0 -6.10 Formosan Union Chemi MAT 243 246 0.610 0.648 0 0 0.0 0.0 6.28 Fortune Electric Co IND 37 38 0.701 0.897 0 0 0.0 0.0 28.01 Founding Constructio RES 259 257 0.536 0.549 0 0 0.0 0.0 2.38 Foxconn Tech Co INF 601 611 2.863 2.744 2 2 0.1 0.1 -4.17 Foxlink Image Techno INF 113 115 0.669 0.849 0 0 0.0 0.0 26.94 Froch Enterprise Co MAT 177 179 0.531 0.544 0 0 0.0 0.0 2.39 Fsp Technology Inc. IND 148 149 0.810 0.833 0 0 0.0 0.0 2.91 Fubon Financial Hldg FIN 6,641 6,864 1.704 1.718 11 12 0.8 0.8 0.86 Fullerton Technology INF 114 115 0.803 0.837 0 0 0.0 0.0 4.20 Fulltech Fiber Glass INF 386 392 0.764 0.659 0 0 0.0 0.0 -13.86 Fwusow Industry Co L CST 213 216 0.600 0.633 0 0 0.0 0.0 5.49 G Shank Enterprise C IND 161 163 0.907 0.869 0 0 0.0 0.0 -4.17 Gallant Precision Ma INF 54 55 0.714 0.753 0 0 0.0 0.0 5.43 Gemtek Technology Co INF 334 339 0.848 0.928 0 0 0.0 0.0 9.34 Genesis Photonics In INF 41 41 0.116 0.109 0 0 0.0 0.0 -5.95 Getac Technology Cor INF 324 287 1.485 1.458 0 0 0.0 0.0 -1.86 Giantplus Technology INF 239 243 0.638 0.634 0 0 0.0 0.0 -0.62 Giga-Byte Technology INF 569 345 1.815 2.267 1 1 0.1 0.1 24.93
98 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Gigastorage Corp INF 348 353 0.548 0.490 0 0 0.0 0.0 -10.46 Gintech Energy Corpo INF 552 560 0.598 0.537 0 0 0.0 0.0 -10.26 Global Brands Manufa INF 292 296 0.454 0.439 0 0 0.0 0.0 -3.23 Global Mixed-Mode Te INF 5 6 2.265 2.349 0 0 0.0 0.0 3.73 Globe Union Industri IND 235 239 0.743 0.715 0 0 0.0 0.0 -3.71 Gloria Material Tech MAT 558 567 0.667 0.713 0 0 0.0 0.0 6.95 Gold Circuit Electro INF 460 467 0.356 0.336 0 0 0.0 0.0 -5.64 Good Will Instrument INF 41 42 0.764 0.818 0 0 0.0 0.0 7.00 Grand Fortune Securi FIN 5 26 0.440 0.516 0 0 0.0 0.0 17.26 Grand Pacific Petroc MAT 1,034 1,050 1.057 1.051 1 1 0.1 0.1 -0.53 Great China Metal In MAT 68 69 0.845 0.905 0 0 0.0 0.0 7.14 Great Wall Enterpris CST 506 514 1.127 1.176 1 1 0.0 0.0 4.34 Green Energy Technol INF 237 241 0.591 0.518 0 0 0.0 0.0 -12.43 Gtm Holdings Corpora INF 142 143 0.590 0.628 0 0 0.0 0.0 6.42 Hannstar Board Corp INF 337 342 0.728 0.607 0 0 0.0 0.0 -16.56 Hannstar Display Cor INF 3,064 3,112 0.334 0.348 1 1 0.1 0.1 4.22 Hannstouch Solution INF 226 242 0.302 0.274 0 0 0.0 0.0 -9.50 Hanpin Electronic CDI 20 22 1.003 0.938 0 0 0.0 0.0 -6.49 Harvatek Corp INF 187 186 0.660 0.707 0 0 0.0 0.0 7.00 Hey Song CST 219 222 1.057 1.068 0 0 0.0 0.0 1.09 Highwealth Construct RES 128 130 1.421 1.543 0 0 0.0 0.0 8.58 Hiti Digital Inc. INF 10 10 0.356 0.357 0 0 0.0 0.0 0.14
99 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Hitron Technology INF 160 162 0.722 0.744 0 0 0.0 0.0 3.01 Ho Tung Chemical Cor MAT 912 926 0.343 0.296 0 0 0.0 0.0 -13.75 Hocheng Corp IND 304 301 0.332 0.325 0 0 0.0 0.0 -2.07 Hold-Key Electric Wi IND 9 9 0.311 0.317 0 0 0.0 0.0 1.95 Holy Stone Enterpris INF 144 146 3.764 4.544 1 1 0.0 0.0 20.74 Hon Hai Precision In INF 2,046 2,800 3.199 3.135 7 9 0.4 0.6 -2.01 Hong Tai Electronic IND 224 199 0.370 0.398 0 0 0.0 0.0 7.63 Hong Yi Fiber Ind CDI 48 55 0.746 0.736 0 0 0.0 0.0 -1.39 Horizon(Fortune) Sec FIN 419 416 0.270 0.265 0 0 0.0 0.0 -2.00 Hsin Kuang Steel Co MAT 234 238 0.941 1.269 0 0 0.0 0.0 34.87 Hsing Ta Cement Co L MAT 133 131 0.440 0.482 0 0 0.0 0.0 9.46 Htc Corporation INF 459 467 2.456 2.274 1 1 0.1 0.1 -7.43 Hua Engineering Wire IND 407 376 0.395 0.403 0 0 0.0 0.0 2.06 Hua Nan Financial Ho FIN 4,662 4,736 0.563 0.604 3 3 0.2 0.2 7.24 Huaku Development Co RES 151 160 2.332 2.473 0 0 0.0 0.0 6.03 Huang Hsiang Constru RES 89 91 1.015 1.015 0 0 0.0 0.0 0.04 Hung Ching Developme RES 122 124 0.830 1.001 0 0 0.0 0.0 20.66 Hung Poo Real Estate RES 271 256 0.721 0.753 0 0 0.0 0.0 4.44 Hung Sheng Construct RES 502 521 0.860 1.075 0 1 0.0 0.0 24.99 Huxen Corporation INF 21 21 1.458 1.650 0 0 0.0 0.0 13.12 Hwa Fong Rubber Indu CDI 0 12 0.423 0.532 0 0 0.0 0.0 NA Hwacom Systems Inc TEL 25 25 0.449 0.454 0 0 0.0 0.0 1.30
100 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) I-Chiun Precision In INF 203 206 0.365 0.348 0 0 0.0 0.0 -4.52 Ichia Technologies I INF 164 157 0.556 0.573 0 0 0.0 0.0 2.99 Ideal Bike Corp CDI 7 7 0.487 0.417 0 0 0.0 0.0 -14.48 Infortrend Technolog INF 81 82 0.484 0.454 0 0 0.0 0.0 -6.09 Innolux Corporation INF 11,257 11,435 0.417 0.451 5 5 0.3 0.3 8.24 Inpaq Technology Co INF 24 27 0.939 0.953 0 0 0.0 0.0 1.52 Inventec Corp INF 2,361 2,398 0.798 0.791 2 2 0.1 0.1 -0.95 Ite Tech Inc. INF 143 145 1.195 1.338 0 0 0.0 0.0 11.97 Jarllytec Co. Ltd. INF 40 41 1.714 1.818 0 0 0.0 0.0 6.07 Jentech Precision In INF 3 3 2.241 2.298 0 0 0.0 0.0 2.52 Jess-Link Products C INF 75 81 1.059 1.008 0 0 0.0 0.0 -4.74 Jih Sun Financial Hl FIN 626 658 0.282 0.291 0 0 0.0 0.0 3.28 Johnson Health Tech CDI 11 11 1.201 1.120 0 0 0.0 0.0 -6.79 K Laser Technology I MAT 142 144 0.551 0.562 0 0 0.0 0.0 2.06 Kaulin Manufacturing IND 169 158 0.786 0.789 0 0 0.0 0.0 0.32 Kee Tai Properties RES 147 150 0.346 0.353 0 0 0.0 0.0 2.06 Kenmec Mechanical En IND 146 149 0.422 0.372 0 0 0.0 0.0 -11.76 Kindom Construction RES 408 380 0.686 0.705 0 0 0.0 0.0 2.81 King Chou Marine Tec CDI 14 14 1.065 1.137 0 0 0.0 0.0 6.73 King Yuan Electronic INF 1,216 1,235 1.017 1.037 1 1 0.1 0.1 2.06 King''s Town Bank FIN 854 867 1.252 1.267 1 1 0.1 0.1 1.24 Kings Town Construct RES 13 13 0.749 0.768 0 0 0.0 0.0 2.52
101 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Kinko Optical Co INF 139 141 1.169 1.248 0 0 0.0 0.0 6.76 Kinpo Electronics CDI 1,458 1,447 0.355 0.353 1 1 0.0 0.0 -0.36 Kinsus Interconnect INF 200 210 1.821 1.927 0 0 0.0 0.0 5.83 Knh Enterprise Co Lt CST 126 128 0.423 0.408 0 0 0.0 0.0 -3.61 Ks Terminals Inc IND 7 0 2.134 1.818 0 0 0.0 0.0 -14.81 Kung Sing Engineerin IND 248 252 0.548 0.544 0 0 0.0 0.0 -0.75 Kuo Toong Internatio IND 78 80 0.638 0.638 0 0 0.0 0.0 -0.09 Kuoyang Construction RES 479 463 0.596 0.574 0 0 0.0 0.0 -3.69 Kwong Fong Industrie CDI 115 116 0.560 0.583 0 0 0.0 0.0 4.21 Kwong Lung Enterpris CDI 4 0 1.477 1.638 0 0 0.0 0.0 10.89 Kye System Corp INF 281 273 0.346 0.358 0 0 0.0 0.0 3.55 L&K Engineering Co IND 158 161 1.143 1.200 0 0 0.0 0.0 5.06 Lan Fa Textile CDI 222 214 0.346 0.288 0 0 0.0 0.0 -16.76 Lcy Chemical Corp MAT 189 197 1.630 1.525 0 0 0.0 0.0 -6.46 Leader Electronics I IND 147 150 0.299 0.290 0 0 0.0 0.0 -3.21 Lealea Enterprise CDI 801 727 0.393 0.372 0 0 0.0 0.0 -5.35 Ledtech Electronics INF 49 50 0.439 0.396 0 0 0.0 0.0 -9.67 Lee Chi Enterprises CDI 230 231 0.391 0.367 0 0 0.0 0.0 -6.26 Leofoo Development CDI 364 366 0.267 0.257 0 0 0.0 0.0 -3.97 Les Enphants CDI 66 67 0.397 0.427 0 0 0.0 0.0 7.69 Lextar Electronics C INF 325 330 0.897 0.715 0 0 0.0 0.0 -20.30 Li Peng Enterprise CDI 660 637 0.306 0.269 0 0 0.0 0.0 -12.15
102 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Lien Hwa Industrial CST 646 620 1.230 1.332 1 1 0.1 0.1 8.34 Lingsen Precision In INF 404 410 0.506 0.453 0 0 0.0 0.0 -10.48 Lite-On Semiconducto INF 254 258 1.452 1.437 0 0 0.0 0.0 -1.01 Lite-On Technology C INF 2,192 2,227 1.364 1.394 3 3 0.2 0.2 2.19 Long Bon Internation FIN 29 48 0.516 0.484 0 0 0.0 0.0 -6.25 Long Chen Paper MAT 741 753 1.406 1.110 1 1 0.1 0.1 -21.11 Longwell Co IND 42 40 2.127 1.597 0 0 0.0 0.0 -24.94 Lucky Cement Co. MAT 251 251 0.281 0.270 0 0 0.0 0.0 -4.03 Luxnet Corporation INF 29 32 1.182 1.003 0 0 0.0 0.0 -15.12 Macroblock Inc INF 5 5 2.181 2.878 0 0 0.0 0.0 31.94 Macronix Internation INF 1,778 1,631 1.485 1.715 3 3 0.2 0.2 15.46 Marketech Internatio INF 147 149 1.311 1.679 0 0 0.0 0.0 28.10 Masterlink Securitie FIN 1,314 1,292 0.292 0.316 0 0 0.0 0.0 7.93 Mayer Steel Pipe Cor MAT 173 173 0.470 0.538 0 0 0.0 0.0 14.46 Maywufa Co CST 19 19 0.467 0.492 0 0 0.0 0.0 5.37 Mediatek Inc INF 202 44 9.880 11.661 2 1 0.1 0.0 18.03 Mega Financial Holdi FIN 9,217 9,363 0.808 0.861 7 8 0.5 0.5 6.52 Meiloon Industrial C CDI 78 11 0.887 1.024 0 0 0.0 0.0 15.40 Mercuries & Associat FIN 220 232 0.848 0.864 0 0 0.0 0.0 1.86 Mercuries Life Insur FIN 619 664 0.544 0.532 0 0 0.0 0.0 -2.35 Min Aik Technology INF 101 110 0.904 0.797 0 0 0.0 0.0 -11.79 Mitac Holdings Corpo INF 685 667 1.200 1.163 1 1 0.1 0.1 -3.08
103 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Mosel Vitelic Inc INF 21 20 0.603 0.943 0 0 0.0 0.0 56.36 Motech Industries In INF 456 463 0.754 0.765 0 0 0.0 0.0 1.38 Mpi Corporation INF 3 6 2.278 2.075 0 0 0.0 0.0 -8.93 Nan Ren Lake Leisure CDI 124 126 0.264 0.266 0 0 0.0 0.0 0.76 Nan Ya Printed Circu INF 257 261 0.877 1.156 0 0 0.0 0.0 31.78 Nantex Industry MAT 136 138 0.790 0.823 0 0 0.0 0.0 4.23 Neo Solar Power Corp INF 426 433 0.462 0.439 0 0 0.0 0.0 -4.99 New Asia Constructio IND 136 138 0.243 0.220 0 0 0.0 0.0 -9.50 New Era Electronics INF 15 15 0.637 0.628 0 0 0.0 0.0 -1.44 Nichidenbo Corporati INF 6 0 1.193 1.780 0 0 0.0 0.0 49.21 Nien Hsing Textile CDI 162 154 0.927 0.863 0 0 0.0 0.0 -7.00 Nishoku Technology IND 24 25 2.500 2.823 0 0 0.0 0.0 12.90 O-Bank Co Ltd FIN 5 25 0.299 0.299 0 0 0.0 0.0 -0.23 Ocean Plastics MAT 20 20 0.985 0.923 0 0 0.0 0.0 -6.30 Optimax Technology C INF 37 38 0.191 0.149 0 0 0.0 0.0 -22.19 Opto Tech Corp INF 460 467 0.719 0.791 0 0 0.0 0.0 9.93 Orient Semiconductor INF 145 152 0.318 0.295 0 0 0.0 0.0 -7.01 Oriental Union Chemi MAT 81 0 1.064 1.032 0 0 0.0 0.0 -2.94 P-Two Industries Inc INF 2 2 0.657 0.720 0 0 0.0 0.0 9.63 Pacific Construction RES 186 189 0.360 0.412 0 0 0.0 0.0 14.46 Pan International In INF 400 406 0.852 0.760 0 0 0.0 0.0 -10.82 Pan Jit Internationa INF 387 132 1.008 1.698 0 0 0.0 0.0 68.40
104 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Paragon Technologies INF 61 62 1.166 0.945 0 0 0.0 0.0 -18.97 Pegatron Corporation INF 1,913 1,943 2.419 2.511 5 5 0.3 0.3 3.76 Phihong Technology C IND 293 298 0.474 0.401 0 0 0.0 0.0 -15.31 Plastron Precision C INF 2 2 0.669 0.681 0 0 0.0 0.0 1.81 Plotech Co Ltd INF 25 25 0.571 1.003 0 0 0.0 0.0 75.61 Pou Chen CDI 1,100 1,263 1.295 1.338 1 2 0.1 0.1 3.25 Powertech Industrial IND 9 9 0.526 0.501 0 0 0.0 0.0 -4.78 President Securities FIN 1,012 995 0.482 0.504 0 1 0.0 0.0 4.55 Prime Electronics&Sa INF 30 31 0.285 0.286 0 0 0.0 0.0 0.50 Prince Housing Devel RES 487 513 0.405 0.412 0 0 0.0 0.0 1.64 Promate Electronic C INF 10 12 0.943 0.988 0 0 0.0 0.0 4.79 Promise Technology INF 68 69 0.371 0.334 0 0 0.0 0.0 -10.04 Qisda Corporation INF 1,954 1,985 0.711 0.748 1 1 0.1 0.1 5.20 Qualipoly Chemical C MAT 21 21 1.163 1.154 0 0 0.0 0.0 -0.74 Quanta Storage INF 166 182 1.065 0.965 0 0 0.0 0.0 -9.37 Quintain Steel Co Lt MAT 318 277 0.336 0.370 0 0 0.0 0.0 10.23 Radiant Opto-Electro INF 359 365 2.376 2.452 1 1 0.1 0.1 3.22 Radium Life Tech Co RES 676 679 0.427 0.396 0 0 0.0 0.0 -7.18 Rich Development Co IND 543 551 0.334 0.401 0 0 0.0 0.0 20.01 Ritek Corp INF 1,935 1,881 0.157 0.188 0 0 0.0 0.0 20.02 Ruentex Development RES 405 428 1.074 1.170 0 1 0.0 0.0 8.93 Sampo Corp CDI 486 463 0.444 0.478 0 0 0.0 0.0 7.86
105 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) San Fang Chemical MAT 2 2 1.139 1.120 0 0 0.0 0.0 -1.70 San Far Property Lim RES 5 5 0.428 0.446 0 0 0.0 0.0 4.06 Sanyang Motor Co Ltd CDI 198 207 0.719 0.734 0 0 0.0 0.0 2.06 Sci Pharmtech Inc HTH 7 7 1.932 2.267 0 0 0.0 0.0 17.33 Sesoda Corpn MAT 126 128 0.996 1.029 0 0 0.0 0.0 3.27 Shan Loong Transport CDI 17 20 1.082 1.122 0 0 0.0 0.0 3.65 Sharehope Medicine C HTH 6 7 1.223 1.221 0 0 0.0 0.0 -0.14 Sheng Yu Steel MAT 152 144 0.966 0.952 0 0 0.0 0.0 -1.49 Shenmao Technology I IND 89 89 0.885 0.864 0 0 0.0 0.0 -2.39 Shih Her Technologie INF 31 31 1.366 1.260 0 0 0.0 0.0 -7.73 Shih Wei Navigation IND 233 244 0.309 0.251 0 0 0.0 0.0 -18.70 Shihlin Elec & Engin IND 337 342 1.388 1.411 0 0 0.0 0.0 1.69 Shin Kong Financial FIN 8,040 7,571 0.353 0.394 3 3 0.2 0.2 11.78 Shin Zu Shing Co IND 113 127 2.520 3.063 0 0 0.0 0.0 21.52 Shining Building Bus RES 22 22 0.360 0.367 0 0 0.0 0.0 2.06 Shinkong Insurance C FIN 263 259 0.964 1.070 0 0 0.0 0.0 10.95 Shinkong Synthetic F MAT 1,574 1,505 0.338 0.330 1 0 0.0 0.0 -2.20 Shuttle Inc INF 327 332 0.682 0.586 0 0 0.0 0.0 -14.03 Sigurd Microelectron INF 452 394 1.107 1.252 1 0 0.0 0.0 13.06 Silicon Integrated S INF 373 379 0.301 0.334 0 0 0.0 0.0 11.19 Silitech Technology INF 62 63 0.628 0.559 0 0 0.0 0.0 -11.04 Simplo Technology INF 35 36 5.595 6.276 0 0 0.0 0.0 12.18
106 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Sincere Navigation C IND 373 362 0.711 0.609 0 0 0.0 0.0 -14.34 Sinher Technology In INF 13 14 1.687 1.759 0 0 0.0 0.0 4.30 Sino-American Silico INF 540 330 2.564 3.687 1 1 0.1 0.1 43.80 Sinon Corp MAT 415 422 0.568 0.586 0 0 0.0 0.0 3.27 Sinopac Financial Hl FIN 9,131 8,495 0.325 0.357 3 3 0.2 0.2 9.77 Sinphar Pharmaceutic HTH 1 1 0.728 0.806 0 0 0.0 0.0 10.78 Sirtec International INF 21 24 1.359 1.379 0 0 0.0 0.0 1.43 Siward Crystal Techn INF 174 177 0.711 0.689 0 0 0.0 0.0 -3.00 Solar Applied Materi MAT 179 182 0.712 0.755 0 0 0.0 0.0 5.91 Solartech Energy Cor INF 326 331 0.501 0.461 0 0 0.0 0.0 -7.87 Solomon Technology C INF 30 35 0.778 0.772 0 0 0.0 0.0 -0.80 Solteam Electronics IND 3 3 1.395 1.320 0 0 0.0 0.0 -5.32 South East Cement Co MAT 241 242 0.496 0.477 0 0 0.0 0.0 -3.82 Spirox Corp INF 38 38 0.842 1.003 0 0 0.0 0.0 19.18 Standard Chem & Phar HTH 9 9 1.206 1.194 0 0 0.0 0.0 -1.06 Stark Technology INF 110 108 1.200 1.257 0 0 0.0 0.0 4.78 Sunko Ink Co MAT 6 6 0.475 0.430 0 0 0.0 0.0 -9.48 Sunplus Technology INF 524 538 0.551 0.542 0 0 0.0 0.0 -1.67 Sunrex Technology INF 112 114 0.581 0.569 0 0 0.0 0.0 -2.07 Sunspring Metal Corp IND 49 51 1.248 1.224 0 0 0.0 0.0 -1.92 Supreme Electronics INF 358 364 1.005 1.094 0 0 0.0 0.0 8.89 Swancor Holding Co L MAT 4 0 2.796 4.407 0 0 0.0 0.0 57.63
107 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Sweeten Real Estate RES 88 89 0.536 0.616 0 0 0.0 0.0 14.86 Syncmold Enterprise IND 5 0 2.134 2.332 0 0 0.0 0.0 9.30 Synnex Technology In INF 449 456 1.363 1.495 1 1 0.0 0.0 9.74 Sysage Technology INF 10 10 0.988 1.120 0 0 0.0 0.0 13.35 Systex Corporation INF 75 77 1.993 2.198 0 0 0.0 0.0 10.32 T-Mac Techvest Pcb C INF 120 122 0.403 0.393 0 0 0.0 0.0 -2.61 T3ex Global Holdings IND 18 18 0.771 0.859 0 0 0.0 0.0 11.40 Ta Chen Stainless Pi MAT 751 408 0.719 0.995 1 0 0.0 0.0 38.31 Ta Ya Electronic Wir IND 526 535 0.467 0.523 0 0 0.0 0.0 11.98 Ta-I Technology INF 110 112 1.260 1.183 0 0 0.0 0.0 -6.10 Tahhsin Industrial C CDI 111 112 0.860 0.912 0 0 0.0 0.0 6.05 Tai Roun Products Co CST 5 5 0.349 0.377 0 0 0.0 0.0 7.95 Tai-Saw Technology C INF 3 3 0.603 0.650 0 0 0.0 0.0 7.75 Taichung Commercial FIN 2,538 2,477 0.333 0.350 1 1 0.1 0.1 5.05 Taiflex Scientific C INF 63 71 2.010 1.490 0 0 0.0 0.0 -25.84 Tainan Enterprises CDI 85 86 0.801 0.797 0 0 0.0 0.0 -0.50 Tainan Spinning CDI 1,374 1,372 0.457 0.453 1 1 0.0 0.0 -0.94 Tainergy Tech Co Ltd INF 163 165 0.435 0.350 0 0 0.0 0.0 -19.61 Taishin Financial Hl FIN 9,091 8,276 0.465 0.490 4 4 0.3 0.3 5.38 Taisun Enterprise Co CST 126 170 0.568 0.590 0 0 0.0 0.0 3.87 Taita Chemical MAT 186 189 0.511 0.394 0 0 0.0 0.0 -22.78 Taitung Communicatio INF 29 36 0.652 0.643 0 0 0.0 0.0 -1.36
108 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Taiwan Building Mate MAT 1,344 1,321 0.328 0.322 0 0 0.0 0.0 -1.80 Taiwan Business Bank FIN 4,507 3,996 0.282 0.299 1 1 0.1 0.1 6.08 Taiwan Cement MAT 4,449 4,519 1.225 1.255 5 6 0.4 0.4 2.48 Taiwan Chinsan Elect INF 27 22 2.278 2.301 0 0 0.0 0.0 1.01 Taiwan Cogeneration UTL 190 193 0.899 0.924 0 0 0.0 0.0 2.83 Taiwan Cooperative F FIN 7,763 7,124 0.558 0.590 4 4 0.3 0.3 5.75 Taiwan Fertilizer Co MAT 386 405 1.289 1.346 0 1 0.0 0.0 4.46 Taiwan Fire & Marine FIN 101 102 0.687 0.708 0 0 0.0 0.0 3.06 Taiwan Fu Hsing IND 50 51 1.264 1.266 0 0 0.0 0.0 0.16 Taiwan Glass Industr IND 997 1,013 0.751 0.604 1 1 0.1 0.0 -19.63 Taiwan Hon Chuan Ent MAT 49 53 1.932 1.921 0 0 0.0 0.0 -0.60 Taiwan Hopax Chems.M MAT 130 132 0.711 0.640 0 0 0.0 0.0 -10.00 Taiwan Land Developm RES 739 720 0.344 0.335 0 0 0.0 0.0 -2.72 Taiwan Line Tek Elec IND 11 11 1.045 1.000 0 0 0.0 0.0 -4.34 Taiwan Mask Corp INF 190 164 0.605 0.607 0 0 0.0 0.0 0.36 Taiwan Navigation Co IND 120 121 0.558 0.516 0 0 0.0 0.0 -7.47 Taiwan Paper&Pulp MAT 301 278 0.642 0.629 0 0 0.0 0.0 -1.94 Taiwan Pcb Techvest INF 286 290 1.070 1.013 0 0 0.0 0.0 -5.31 Taiwan Prosperity Ch MAT 53 45 0.954 0.772 0 0 0.0 0.0 -19.14 Taiwan Sakura CDI 21 5 1.265 1.307 0 0 0.0 0.0 3.28 Taiwan Sogo Shingkon IND 3 3 1.299 1.331 0 0 0.0 0.0 2.46 Taiwan Styrene Monom MAT 233 237 0.763 0.743 0 0 0.0 0.0 -2.66
109 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Taiwan Surface Mount INF 231 235 1.183 0.953 0 0 0.0 0.0 -19.39 Taiwan Tea Corporati CST 643 654 0.519 0.506 0 0 0.0 0.0 -2.56 Taiyen Biotech Co CST 133 127 0.938 0.964 0 0 0.0 0.0 2.79 Tatung Co Ltd CDI 2,131 1,626 0.645 0.770 1 1 0.1 0.1 19.34 Te Chang Constructio IND 6 6 0.667 0.696 0 0 0.0 0.0 4.38 Teco Electric & Mach IND 1,982 1,850 0.958 0.847 2 2 0.1 0.1 -11.55 Test Rite Internatio CDI 113 115 0.770 0.803 0 0 0.0 0.0 4.29 Tex-Ray Industrial C CDI 33 34 0.388 0.408 0 0 0.0 0.0 5.16 Thye Ming Industrial MAT 2 2 1.317 1.372 0 0 0.0 0.0 4.15 Ton Yi Industrial Co MAT 240 244 0.469 0.449 0 0 0.0 0.0 -4.16 Tong-Tai Machine Too IND 245 236 0.684 0.671 0 0 0.0 0.0 -1.95 Topoint Technology C INF 167 165 0.722 0.701 0 0 0.0 0.0 -2.92 Tpk Holding Co Ltd INF 274 279 2.809 2.493 1 1 0.1 0.0 -11.24 Tripod Technology Co INF 212 215 3.125 3.275 1 1 0.0 0.0 4.81 Truelight Corporatii INF 17 17 1.371 1.025 0 0 0.0 0.0 -25.20 Tsann Kuen Enterpris CDI 10 10 0.808 0.828 0 0 0.0 0.0 2.49 Tsec Corporation INF 129 131 0.344 0.310 0 0 0.0 0.0 -9.89 Tung Ho Steel Enterp MAT 957 952 0.867 0.849 1 1 0.1 0.1 -2.09 Txc Corpn INF 89 92 1.336 1.351 0 0 0.0 0.0 1.16 Tyc Brother Industri CDI 110 112 1.116 1.063 0 0 0.0 0.0 -4.70 Tycoons Group Enterp IND 551 560 0.216 0.229 0 0 0.0 0.0 5.87 Tyntek Corp INF 226 229 0.529 0.576 0 0 0.0 0.0 8.87
110 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) U-Ming Marine Transp IND 84 103 1.227 1.206 0 0 0.0 0.0 -1.71 Ude Corp INF 20 24 1.686 1.454 0 0 0.0 0.0 -13.74 Unimicron Technology INF 1,679 1,706 0.548 0.647 1 1 0.1 0.1 18.03 Union Bank of Taiwan FIN 972 958 0.311 0.327 0 0 0.0 0.0 5.04 Unitech Printed Cir INF 532 541 0.780 0.679 0 0 0.0 0.0 -12.89 Unitech Computer Co INF 120 122 0.659 0.703 0 0 0.0 0.0 6.75 United Micro Electro INF 15,249 15,491 0.477 0.528 7 8 0.5 0.5 10.69 United Radiant Techn INF 7 7 0.603 0.595 0 0 0.0 0.0 -1.35 Unity Opto Technolog INF 219 222 0.386 0.336 0 0 0.0 0.0 -13.02 Univacco Technology MAT 3 3 0.622 0.631 0 0 0.0 0.0 1.51 Universal Cement Cor MAT 449 453 0.771 0.763 0 0 0.0 0.0 -1.05 Unizyx Hldgs INF 327 323 0.512 0.478 0 0 0.0 0.0 -6.64 Upc Technology Co MAT 950 917 0.632 0.650 1 1 0.0 0.0 2.88 Usi Corporation MAT 567 588 0.551 0.501 0 0 0.0 0.0 -9.14 Usun Technology Co L INF 16 17 1.680 1.547 0 0 0.0 0.0 -7.94 Ve Wong Corporation CST 121 121 0.847 0.904 0 0 0.0 0.0 6.72 Wafer Works Corporat INF 340 206 1.432 1.533 0 0 0.0 0.0 7.09 Wah Honh Industrial INF 30 30 0.677 0.660 0 0 0.0 0.0 -2.50 Wah Lee Industrial C INF 153 155 1.875 1.993 0 0 0.0 0.0 6.27 Walsin Lihwa Corp IND 2,404 2,442 0.591 0.607 1 1 0.1 0.1 2.64 Walsin Technology Co INF 368 345 3.528 4.081 1 1 0.1 0.1 15.67 Walton Advanced Engi INF 294 299 0.541 0.492 0 0 0.0 0.0 -9.03
111 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Wan Hai Lines IND 606 616 0.647 0.614 0 0 0.0 0.0 -5.09 Waterland Financial FIN 2,538 2,520 0.319 0.350 1 1 0.1 0.1 9.70 Weikeng Industrial C INF 164 167 0.644 0.751 0 0 0.0 0.0 16.72 Well Shin Technology IND 76 77 1.942 1.831 0 0 0.0 0.0 -5.71 Wha Yu Industrial Co INF 23 23 0.642 0.612 0 0 0.0 0.0 -4.62 Winbond Electronic C INF 3,388 3,442 0.788 0.671 3 2 0.2 0.2 -14.91 Winstek Semiconducto INF 2 5 0.993 1.262 0 0 0.0 0.0 27.10 Wisdom Marine Lines IND 216 222 0.971 0.947 0 0 0.0 0.0 -2.53 Wistron Corporation INF 3,130 3,180 0.805 0.859 3 3 0.2 0.2 6.75 Wpg Holdings Limited INF 655 708 1.324 1.314 1 1 0.1 0.1 -0.79 Wt Microelectronics INF 564 573 1.519 1.588 1 1 0.1 0.1 4.55 Wus Printed Circuit INF 236 233 0.632 0.581 0 0 0.0 0.0 -7.98 Xxentria Technology IND 19 20 2.184 2.209 0 0 0.0 0.0 1.12 Yageo Corp INF 13 0 11.862 17.903 0 0 0.0 0.0 50.93 Yang Ming Marine Tra IND 826 839 0.386 0.358 0 0 0.0 0.0 -7.26 Yc Inox Co Ltd MAT 373 379 0.899 0.899 0 0 0.0 0.0 -0.04 Yeashin Internationa RES 19 20 0.588 0.597 0 0 0.0 0.0 1.48 Yem Chio Co Ltd IND 511 513 0.491 0.473 0 0 0.0 0.0 -3.53 Yfy Inc MAT 1,497 1,521 0.469 0.444 1 1 0.0 0.0 -5.25 Yi Jinn Industrial C CDI 219 179 0.474 0.478 0 0 0.0 0.0 0.98 Yieh Phui Enterprise MAT 1,309 1,330 0.410 0.376 1 0 0.0 0.0 -8.39 Young Fast Optoelect INF 114 116 0.686 0.619 0 0 0.0 0.0 -9.69
112 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Taiwan (cont.) Youngtek Electronics INF 71 72 1.932 2.027 0 0 0.0 0.0 4.90 Yuanta Financial Hol FIN 8,687 8,825 0.464 0.458 4 4 0.3 0.3 -1.27 Yulon Motor Co CDI 899 913 0.812 0.775 1 1 0.0 0.0 -4.49 Yung Chi Paint & Var MAT 18 19 2.722 2.816 0 0 0.0 0.0 3.45 Yunshin Construction RES 4 4 1.064 1.146 0 0 0.0 0.0 7.71 Zenitron Corp INF 210 201 0.674 0.784 0 0 0.0 0.0 16.32 Zero One Technology INF 28 31 0.674 0.743 0 0 0.0 0.0 10.21 Zig Sheng Industrial CDI 351 368 0.430 0.360 0 0 0.0 0.0 -16.28 Zinwell INF 37 43 1.062 0.938 0 0 0.0 0.0 -11.66 Zongtai Real Estate RES 106 131 0.644 0.761 0 0 0.0 0.0 18.32 241 245 16.3 16.2 3.08 Thailand A.J.Plast Co MAT 106 107 0.368 0.451 0 0 0.0 0.0 25.08 Aapico Hitech Public CDI 51 52 1.059 1.135 0 0 0.0 0.0 9.12 Aapico Hitech Public CDI 9 9 1.059 1.135 0 0 0.0 0.0 9.12 Ap (Thailand) Public RES 1,416 1,305 0.281 0.253 0 0 0.0 0.0 -10.02 Asia Aviation Public IND 30 31 0.189 0.165 0 0 0.0 0.0 -12.73 Asia Aviation Public IND 324 329 0.189 0.165 0 0 0.0 0.0 -12.73 Asia Plus Group Hldg FIN 360 366 0.123 0.120 0 0 0.0 0.0 2.55 Bangchak Corporation ENR 591 407 1.250 1.159 1 0 0.0 0.0 -4.67 Bangkok Airways Publ IND 222 226 0.525 0.461 0 0 0.0 0.0 -10.48 Bangkok Bank Public FIN 126 105 6.198 6.300 1 1 0.1 0.0 1.64
113 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Thailand (cont.) Bangkok Insurance Pu FIN 16 16 10.985 11.832 0 0 0.0 0.0 9.19 Bangkok Land Public RES 0 7,241 NA 0.059 0 0 0.0 0.0 NA Bangkok Land Public RES 7,128 0 0.055 0.057 0 0 0.0 0.0 3.06 Bangkok Ranch Public CST 33 144 0.216 0.229 0 0 0.0 0.0 11.41 Banpu Public Company ENR 1,381 1,621 0.598 0.649 1 1 0.1 0.1 8.50 Better World Green P IND 0 274 0.047 0.047 0 0 0.0 0.0 NA Charoen Pokphand Foo CST 1,422 1,749 0.736 0.807 1 1 0.1 0.1 9.65 Charoong Thai Wire & IND 94 95 0.328 0.281 0 0 0.0 0.0 -11.08 G J Steel Public Com MAT 2,040 2,073 0.012 0.011 0 0 0.0 0.0 -4.01 Gfpt Public Company CST 0 98 0.433 0.419 0 0 0.0 0.0 NA Golden Land Property RES 47 139 0.252 0.301 0 0 0.0 0.0 19.47 Hana Microelectronic INF 72 92 1.365 1.031 0 0 0.0 0.0 -22.28 Icc International CDI 199 200 1.204 1.287 0 0 0.0 0.0 6.88 Irpc Public Co Ltd ENR 5,027 5,106 0.216 0.233 1 1 0.1 0.1 11.90 Italian-Thai Develop IND 0 199 0.122 0.098 0 0 0.0 0.0 NA Kasikornbank Public FIN 86 153 7.119 6.780 1 1 0.0 0.1 -4.76 Kgi Securities(Thail FIN 806 754 0.136 0.152 0 0 0.0 0.0 11.26 Khon Kaen Sugar Indu CST 717 751 0.143 0.117 0 0 0.0 0.0 -17.07 Kiatnakin Bank Publi FIN 244 248 2.432 2.343 1 1 0.0 0.0 -3.67 Krung Thai Bank Publ FIN 2,726 2,721 0.589 0.604 2 2 0.1 0.1 2.59 Laguna Resorts & Hot CDI 77 78 0.721 1.263 0 0 0.0 0.0 75.18 Lh Financial Group P FIN 1,029 1,292 0.052 0.052 0 0 0.0 0.0 -0.10
114 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Thailand (cont.) Lpn Development Publ RES 167 242 0.405 0.333 0 0 0.0 0.0 -15.17 M.K.Real Estate Deve RES 214 217 0.110 0.117 0 0 0.0 0.0 6.55 Mbk Public Company L RES 17 17 0.595 0.739 0 0 0.0 0.0 26.15 McOt CDI 77 78 0.356 0.339 0 0 0.0 0.0 -4.76 Millcon Steel Public MAT 122 124 0.054 0.054 0 0 0.0 0.0 -0.52 Nation Multimedia Gr CDI 198 201 0.015 0.012 0 0 0.0 0.0 -17.49 Padaeng Industry MAT 35 64 0.690 0.871 0 0 0.0 0.0 26.22 Polyplex Thailand MAT 341 366 0.402 0.492 0 0 0.0 0.0 22.52 Precious Shipping IND 651 553 0.322 0.374 0 0 0.0 0.0 16.13 Property Perfect Co RES 2,761 2,862 0.027 0.027 0 0 0.0 0.0 1.83 Pruksa Hldgs Public RES 176 215 0.721 0.684 0 0 0.0 0.0 -2.07 Ptt Exploration & Pr ENR 1,500 1,422 3.068 3.662 5 5 0.3 0.3 22.21 Ptt Global Chemical MAT 1,307 1,572 2.608 3.022 3 5 0.2 0.3 18.92 Ptt Public Company ENR 1,155 1,115 13.440 17.653 16 20 1.0 1.3 34.20 Quality Houses Co RES 1,842 1,734 0.099 0.095 0 0 0.0 0.0 -4.79 Regional Container L IND 333 308 0.265 0.240 0 0 0.0 0.0 -8.47 Rojana Industrial Pa RES 395 581 0.218 0.211 0 0 0.0 0.0 -3.12 Saha Pathana Inter-H RES 209 208 2.301 2.462 0 1 0.0 0.0 7.00 Saha Pathanapibul CDI 119 121 1.611 1.647 0 0 0.0 0.0 2.24 Saha-Union CDI 194 194 1.335 1.439 0 0 0.0 0.0 7.82 Sansiri Co RES 5,962 6,448 0.067 0.054 0 0 0.0 0.0 -16.59 Sc Asset Corporation RES 2,132 1,920 0.120 0.117 0 0 0.0 0.0 -2.19
115 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Thailand (cont.) Sena Development Pub RES 0 22 0.122 0.134 0 0 0.0 0.0 NA Siam Commercial Bank FIN 48 230 4.603 4.557 0 1 0.0 0.1 -0.99 Siam Future Developm RES 449 456 0.239 0.285 0 0 0.0 0.0 22.24 Somboon Advance Tech CDI 185 175 0.669 0.662 0 0 0.0 0.0 2.09 Sri Ayudhya Capital FIN 6 6 1.013 1.495 0 0 0.0 0.0 47.65 Sri Trang Agro Indus CDI 571 580 0.433 0.352 0 0 0.0 0.0 -18.69 Srithai Superware MAT 1,415 1,438 0.047 0.046 0 0 0.0 0.0 -1.26 Stp & I Co MAT 67 68 0.167 0.147 0 0 0.0 0.0 -12.03 Supalai Public Co RES 0 30 0.727 0.688 0 0 0.0 0.0 NA Svi Public Company L INF 21 70 0.129 0.139 0 0 0.0 0.0 7.70 T.P.I.Polene MAT 5,102 4,281 0.063 0.055 0 0 0.0 0.0 -11.66 Tata Steel(Thailand) MAT 3,612 3,669 0.031 0.027 0 0 0.0 0.0 -14.35 Thai Airway Intl Pub IND 1,093 951 0.531 0.502 1 0 0.0 0.0 -5.42 Thai Oil Public Co L ENR 501 509 3.176 2.934 2 1 0.1 0.1 -4.20 Thai Rayon Co MAT 4 4 1.688 1.695 0 0 0.0 0.0 0.43 Thai Stanley Electri CDI 3 3 6.812 7.387 0 0 0.0 0.0 8.45 Thai Stanley Electri CDI 13 13 6.812 7.387 0 0 0.0 0.0 8.45 Thai Wacoal Co CDI 6 6 1.434 1.487 0 0 0.0 0.0 3.66 Thai-German Ceramic IND 0 28 0.095 0.091 0 0 0.0 0.0 NA Thaicom Public Compa TEL 314 372 0.384 0.381 0 0 0.0 0.0 -0.78 Thanachart Capital FIN 534 542 1.726 1.719 1 1 0.1 0.1 -0.41 Thitikorn Pcl FIN 110 119 0.482 0.435 0 0 0.0 0.0 -6.63
116 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Thailand (cont.) Thoresen Thai Agenci IND 476 507 0.275 0.259 0 0 0.0 0.0 -5.68 Tipco Foods Public C CST 0 4 0.479 0.419 0 0 0.0 0.0 NA Tmb Bank Public Comp FIN 4,173 6,014 0.093 0.082 0 0 0.0 0.0 -11.65 True Corporation Pcl TEL 262 583 0.190 0.227 0 0 0.0 0.0 19.86 Viny Thai MAT 479 369 0.635 1.055 0 0 0.0 0.0 66.15 41 49 2.8 3.2 17.76 Turkey Adana Cimento MAT 11 6 1.582 1.724 0 0 0.0 0.0 8.95 Ak Enerji UTL 202 206 0.240 0.240 0 0 0.0 0.0 -0.08 Akbank Turk Anonim S FIN 1,203 1,412 2.598 2.411 3 3 0.2 0.2 -3.24 Alarko Hldg IND 47 48 1.915 1.704 0 0 0.0 0.0 -11.01 Albaraka Turk Katili FIN 257 316 0.409 0.396 0 0 0.0 0.0 -3.05 Anadolu Anonim Sigor FIN 286 279 0.818 1.050 0 0 0.0 0.0 32.26 Anadolu Cam MAT 251 261 0.694 0.848 0 0 0.0 0.0 22.28 Bagfas Bandirma Gubr MAT 30 31 2.769 2.358 0 0 0.0 0.0 -14.86 Bati Cimento MAT 30 20 2.606 1.886 0 0 0.0 0.0 -27.63 Bera Holding A.S IND 11 23 0.818 0.730 0 0 0.0 0.0 -10.77 Borusan Birmesik Bor MAT 51 61 3.096 3.120 0 0 0.0 0.0 0.77 Boyner Perakende Ve CDI 7 7 2.421 2.176 0 0 0.0 0.0 -10.13 Dogan Holdings IND 1,252 1,333 0.229 0.343 0 0 0.0 0.0 49.62 Eczacibasi Yatirim IND 26 26 2.880 2.524 0 0 0.0 0.0 -12.35 Eis Eczacibasi Ilac CST 143 145 1.163 1.093 0 0 0.0 0.0 -6.02
117 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Turkey (cont.) Enka Insaat IND 184 214 1.590 1.391 0 0 0.0 0.0 -12.54 Global Yatirim Holdi FIN 159 161 0.952 0.987 0 0 0.0 0.0 3.67 Gsd Holdings FIN 289 293 0.190 0.237 0 0 0.0 0.0 24.96 Ihlas Holding IND 1,200 1,239 0.140 0.129 0 0 0.0 0.0 -7.90 Is Finansal Kiralama FIN 145 120 0.393 0.525 0 0 0.0 0.0 33.61 Is Yatirim Menkul De FIN 28 14 0.646 0.520 0 0 0.0 0.0 -7.53 Kardemir Karabuk Dem MAT 61 40 0.773 0.954 0 0 0.0 0.0 23.48 Kardemir Karabuk Dem MAT 654 449 0.847 1.000 1 0 0.0 0.0 18.08 Kardemir Karabuk Dem MAT 187 169 0.778 0.949 0 0 0.0 0.0 21.99 Koza Anadolu Metal M MAT 63 64 1.698 1.585 0 0 0.0 0.0 -6.66 Metro Tic Ve Ma Yati IND 189 192 0.261 0.247 0 0 0.0 0.0 -5.25 Net Holdings Inc CDI 1 1 0.583 0.560 0 0 0.0 0.0 -3.85 Park Elek Uretim Mad MAT 53 53 1.100 1.045 0 0 0.0 0.0 -4.97 Pegasus Have Tasimac IND 1 0 8.914 9.002 0 0 0.0 0.0 0.98 Pinar Entegre Et CST 18 19 2.553 2.492 0 0 0.0 0.0 -2.41 Pinar Sut CST 6 10 3.297 3.054 0 0 0.0 0.0 -7.35 Sarkuysan Elektrolit IND 127 110 0.870 0.894 0 0 0.0 0.0 2.67 Sekerbank FIN 306 311 0.483 0.432 0 0 0.0 0.0 -10.56 Selcuk Ecza Deposu T HTH 153 144 0.949 0.939 0 0 0.0 0.0 -1.10 T Sise Ve Cam Fabrik IND 870 912 1.240 1.303 1 1 0.1 0.1 5.08 Trakya Cam Sanayii A IND 510 518 1.218 1.298 1 1 0.0 0.0 6.49 Turcas Petrol ENR 15 15 0.628 0.611 0 0 0.0 0.0 -2.68
118 Chatham University International Equity Holdings DFA Emerging Markets Value Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Turkey (cont.) Turk Hava Yollari IND 546 555 4.138 4.824 2 3 0.2 0.2 16.58 Turkiye Garanti Bank FIN 1,055 1,072 2.827 2.762 3 3 0.2 0.2 -2.32 Turkiye Halk Bankasi FIN 491 471 2.843 2.259 1 1 0.1 0.1 -20.53 Turkiye Is Bankasi FIN 1,863 1,830 1.838 1.802 3 3 0.2 0.2 -1.95 Turkiye Sinai Kalkin FIN 877 924 0.380 0.389 0 0 0.0 0.0 5.02 Turkiye Vakiflar Ban FIN 737 756 1.786 1.643 1 1 0.1 0.1 -7.96 Yapi Ve Kredi Bankas FIN 588 532 1.145 1.121 1 1 0.0 0.0 -2.08 Zorlu Enerji Elektri UTL 37 15 0.417 0.517 0 0 0.0 0.0 24.19 21 21 1.4 1.4 0.65 United Kingdom West China Cement Lt MAT 1,882 1,912 0.150 0.190 0 0 0.0 0.0 26.85 0 0 0.0 0.0 26.85 United States Clover Industries Lt CST 109 111 1.058 1.392 0 0 0.0 0.0 31.52 0 0 0.1 0.0 31.52 Unknown E-Commodities Hldgs MAT 77 0 0.100 0.094 NA 0 NA 0.0 -5.50 Seaspan Corp IND 34 0 6.750 6.680 NA 0 NA 0.0 0.78 0 0 0.0 0.0 NA
119 Chatham University Custom Benchmark Specification DFA Emerging Markets Value Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description MSCI EM Index (N) 6/09 3/18 100.00 MSCI EM Index (N)
120 Chatham University Growth of One Dollar Oppenheimer Emerging Quarter Ended 3/31/18
2.80
2.60
2.40
2.20
2.00
1.80 Value 1.60
1.40
1.20
1.00
0.80 3/06 3/07 3/08 3/09 3/10 3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 12/31/05 Value Total 9.17 8.47 2.71 MSCI EM Index (N) 8.81 6.68 2.21
1 Chatham University Value Added Analysis Oppenheimer Emerging Quarter Ended 3/31/18
10.0%
9.0%
8.0%
7.0%
6.0%
5.0% 4.13 4.0% 4.02 3.17 3.0%
2.0% 1.82 1.55 1.29 1.0% 0.61 0.66 0.38 0.11 0.0% 0.05 -0.02 -0.22 -1.0% -0.4 -0.95 -1.29 -2.0%
-2.19 -2.36 -3.0% -2.65
-4.0% -3.52
-5.0% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. MSCI EM Index (N) Cumulative Value Added 2 Yr Rolling Avg (Annualized)
2 Chatham University Global Equity Structural Characteristics Oppenheimer Emerging Quarter Ended 3/31/18
# % % % Sectors Turn- Quarter $(000) Stocks Equity Cash Other ENR MAT IND CDI CST HTH FIN INF TEL UTL RES Over 12/31/10 3,020 109 100 0 0 14 8 5 8 22 1 15 19 7 0 0 NA 03/31/11 3,000 117 100 0 0 14 7 4 8 24 2 16 17 7 0 0 NA 06/30/11 2,982 113 100 0 0 12 7 4 10 25 2 17 17 7 0 0 NA 09/30/11 2,385 116 100 0 0 12 6 4 10 24 2 17 19 6 0 0 NA 12/31/11 2,426 113 100 0 0 11 5 4 11 26 2 17 18 6 0 0 NA 03/31/12 1,282 122 100 0 0 10 5 4 11 27 1 18 18 6 0 0 NA 06/30/12 1,207 111 100 0 0 9 5 4 12 28 1 19 17 6 0 0 NA 09/30/12 1,293 119 100 0 0 10 5 4 12 26 1 20 18 5 0 0 NA 12/31/12 1,343 116 100 0 0 11 5 4 14 24 1 20 16 5 0 0 NA 03/31/13 1,345 122 100 0 0 11 5 5 14 22 3 21 16 4 0 0 NA 06/30/13 1,292 116 100 0 0 11 4 4 15 22 3 19 18 4 0 0 NA 09/30/13 1,408 111 100 0 0 11 5 3 16 21 3 17 20 3 0 0 NA 12/31/13 1,860 110 100 0 0 12 4 3 17 21 3 18 19 3 0 0 NA 03/31/14 2,166 114 100 0 0 10 6 4 18 20 3 19 17 4 0 0 0.0 06/30/14 2,337 121 100 0 0 11 6 4 18 19 4 20 17 3 0 0 0.0 09/30/14 2,255 120 100 0 0 10 5 5 17 15 5 22 18 4 0 0 NA 12/31/14 2,057 117 100 0 0 6 4 6 19 14 4 24 18 4 0 0 NA 03/31/15 2,031 109 100 0 0 4 4 6 21 12 5 23 21 4 0 0 NA 06/30/15 1,247 112 100 0 0 4 4 5 24 11 5 24 20 3 0 0 NA 09/30/15 1,032 107 100 0 0 3 2 6 24 9 7 27 19 2 0 0 NA 12/31/15 1,072 91 100 0 0 2 2 6 25 9 6 27 21 1 0 0 NA 03/31/16 1,105 86 100 0 0 2 3 6 26 8 6 25 23 1 0 0 NA MSCI EM Index (N) 5,503,587 846 0 0 100 7 7 5 9 6 3 24 28 5 2 NA NA ENR - Energy CST - Consumer Staples TEL - Telecommunication Services MAT- Materials HTH- Health Care UTL - Utilities IND - Industrials FIN - Financials RES - Real Estate CDI - Consumer Discretionary INF - Information Technology 3 Chatham University Global Equity Structural Characteristics Oppenheimer Emerging Quarter Ended 3/31/18
# % % % Sectors Turn- Quarter $(000) Stocks Equity Cash Other ENR MAT IND CDI CST HTH FIN INF TEL UTL RES Over 06/30/16 1,113 92 100 0 0 3 3 6 24 8 6 25 25 0 0 0 NA 09/30/16 1,211 86 100 0 0 3 3 6 24 8 5 24 27 0 0 0 NA 12/31/16 1,143 88 100 0 0 4 3 6 22 8 6 22 27 0 0 3 NA 03/31/17 1,269 88 100 0 0 4 3 7 19 9 6 23 27 0 0 3 NA 06/30/17 1,357 89 100 0 0 3 2 6 21 11 5 22 28 0 0 3 NA 09/30/17 1,469 93 100 0 0 3 5 6 19 9 7 22 25 1 0 2 NA 12/31/17 1,544 87 100 0 0 3 3 6 22 8 5 21 30 0 0 2 NA 03/31/18 1,590 95 100 0 0 4 6 6 17 10 8 20 26 1 0 2 NA
MSCI EM Index (N) 5,503,587 846 0 0 100 7 7 5 9 6 3 24 28 5 2 3 NA ENR - Energy CST - Consumer Staples TEL - Telecommunication Services MAT- Materials HTH- Health Care UTL - Utilities IND - Industrials FIN - Financials RES - Real Estate CDI - Consumer Discretionary INF - Information Technology 4 Chatham University Intl Equity Investment Characteristics Oppenheimer Emerging Quarter Ended 3/31/18
Growth Average Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Mkt Cap $(Mil) P/E P/B YLD ROE Beta Debt/Eqty 12/31/10 17.2 10.6 28,877 19.4 2.5 1.7 23.5 0.99 0.44 03/31/11 16.4 10.3 26,179 17.1 2.5 1.7 24.3 0.97 0.43 06/30/11 15.7 9.9 24,728 16.0 2.0 1.8 24.6 0.95 0.53 09/30/11 16.6 10.7 19,808 14.9 1.8 2.1 25.3 0.97 0.49 12/31/11 14.2 16.0 20,770 15.4 1.6 1.9 23.0 0.98 0.47 03/31/12 15.2 16.5 23,432 19.8 1.9 1.7 22.9 0.96 0.49 06/30/12 15.5 15.7 21,967 19.6 1.7 1.7 22.8 0.94 0.49 09/30/12 15.9 15.4 22,998 20.6 1.7 1.6 23.2 0.94 0.51 12/31/12 15.9 13.5 23,462 19.7 1.8 1.5 23.1 0.96 0.52 03/31/13 12.6 14.2 23,208 20.1 1.4 1.5 21.3 0.98 0.49 06/30/13 14.5 19.1 23,716 20.8 1.4 1.6 21.9 0.97 0.54 09/30/13 14.7 18.8 27,264 23.0 1.5 1.4 21.5 0.97 0.53 12/31/13 14.6 15.8 29,881 22.4 1.6 1.5 20.8 0.94 0.52 03/31/14 13.5 18.1 27,149 20.6 1.3 3.7 20.3 0.94 0.61 06/30/14 12.8 18.3 28,330 21.7 1.3 3.7 19.5 0.93 0.60 09/30/14 14.6 15.6 30,941 20.9 1.7 2.8 19.3 0.94 0.61 12/31/14 15.1 16.0 32,203 20.0 2.1 2.1 19.0 0.97 0.72 03/31/15 12.6 12.9 35,029 23.7 2.2 2.2 17.5 0.93 0.63 06/30/15 10.6 13.4 36,954 20.8 2.2 2.2 16.8 0.93 0.59 09/30/15 12.4 13.6 30,446 17.7 1.9 2.5 16.5 0.93 0.60 12/31/15 9.7 9.6 39,070 18.0 1.9 2.2 16.2 0.93 0.66 03/31/16 9.6 9.5 42,823 18.9 2.0 1.6 16.3 0.92 0.64 MSCI EM Index (N) 11.9 14.1 92,076 17.9 1.8 2.7 15.7 1.00 0.55
5 Chatham University Intl Equity Investment Characteristics Oppenheimer Emerging Quarter Ended 3/31/18
Growth Average Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Mkt Cap $(Mil) P/E P/B YLD ROE Beta Debt/Eqty 06/30/16 10.9 9.9 46,074 18.9 2.1 1.6 17.1 0.92 0.62 09/30/16 11.2 10.0 57,717 18.6 2.2 1.5 17.2 0.92 0.65 12/31/16 10.4 9.7 49,053 17.8 1.6 1.5 17.0 0.92 0.63 03/31/17 10.4 10.4 63,275 24.7 1.5 1.5 18.0 0.93 0.56 06/30/17 10.2 7.3 80,258 27.6 2.2 1.5 16.2 0.94 0.62 09/30/17 10.0 7.6 92,733 28.2 1.8 1.5 17.0 0.94 0.62 12/31/17 11.2 7.6 88,044 31.4 1.8 1.3 16.4 0.95 0.61 03/31/18 11.6 8.5 108,985 27.3 1.7 1.5 17.2 0.98 0.59
MSCI EM Index (N) 11.9 14.1 92,076 17.9 1.8 2.7 15.7 1.00 0.55
6 Chatham University Intl Equity Return Analysis Oppenheimer Emerging Quarter Ended 3/31/18
Index Intl Net Management Effect Local Index Index Total Equity Currency Country Country Quarter Currency Currency US $ Return Return Timing Hedging Currency Market Sector Stock Trading Total 03/06 9.57 2.45 12.02 10.78 NA NA NA NA NA NA NA NA -1.24 06/06 -2.95 -1.38 -4.34 -9.38 -9.38 0.00 NA NA NA NA NA NA -5.04 09/06 5.41 -0.53 4.88 6.64 6.64 0.00 NA NA NA NA NA NA 1.77 12/06 14.62 2.98 17.60 17.30 17.24 0.06 NA NA NA NA NA NA -0.30 2006 28.47 3.70 32.17 25.58 NA NA NA NA NA NA NA NA -6.58 03/07 2.24 0.01 2.25 1.82 1.82 0.00 NA NA NA NA NA NA -0.43 06/07 12.54 2.42 14.96 15.11 14.58 0.23 0.30 NA NA NA NA NA 0.15 09/07 12.51 1.91 14.42 10.30 10.30 0.00 0.00 NA NA NA NA NA -4.11 12/07 2.87 0.76 3.64 3.89 4.36 -0.47 0.00 NA NA NA NA NA 0.26 2007 33.17 6.21 39.38 34.31 34.30 0.00 NA NA NA NA NA NA -5.08 03/08 -11.01 0.01 -10.99 -9.96 -9.96 0.00 0.00 NA NA NA NA NA 1.03 06/08 -1.56 0.70 -0.86 -1.35 -1.35 0.00 0.00 NA NA NA NA NA -0.49 09/08 -20.87 -6.09 -26.95 -18.44 -18.44 0.00 0.00 NA NA NA NA NA 8.51 12/08 -21.99 -5.61 -27.60 -28.01 -28.21 0.20 0.00 NA NA NA NA NA -0.42 2008 -45.92 -7.41 -53.33 -47.85 -47.99 0.14 0.00 NA NA NA NA NA 5.48 03/09 4.14 -3.19 0.95 -0.38 -0.38 0.00 0.00 NA NA NA NA NA -1.33 06/09 24.47 10.26 34.73 38.40 37.94 0.46 0.00 NA NA NA NA NA 3.67 09/09 16.82 4.09 20.91 20.87 20.87 0.00 0.00 NA NA NA NA NA -0.04 12/09 7.17 1.37 8.55 9.29 9.29 0.00 0.00 NA NA NA NA NA 0.74 2009 62.29 16.21 78.50 82.13 81.52 0.60 0.00 NA NA NA NA NA 3.62 03/10 1.39 1.02 2.40 2.95 2.95 0.00 0.00 NA NA NA NA NA 0.55 06/10 -5.61 -2.76 -8.37 -6.18 -6.18 0.00 0.00 NA NA NA NA NA 2.19 09/10 12.75 5.28 18.03 20.83 20.83 0.00 0.00 NA NA NA NA NA 2.80 12/10 6.40 0.93 7.34 9.15 9.15 0.00 0.00 NA NA NA NA NA 1.81 Index : MSCI EM Index (N) 7 Chatham University Intl Equity Return Analysis Oppenheimer Emerging Quarter Ended 3/31/18
Index Intl Net Management Effect Local Index Index Total Equity Currency Country Country Quarter Currency Currency US $ Return Return Timing Hedging Currency Market Sector Stock Trading Total 2010 14.81 4.06 18.87 27.39 27.39 0.00 0.00 NA NA NA NA NA 8.51 03/11 0.71 1.34 2.05 -0.67 -0.67 0.00 0.00 -0.13 -1.85 -0.88 -0.08 0.23 -2.71 06/11 -2.64 1.49 -1.15 -0.61 -0.61 -0.00 0.00 -0.29 0.03 1.15 -0.38 0.02 0.53 09/11 -14.42 -8.14 -22.56 -19.99 -19.99 0.00 0.00 -0.93 1.87 2.15 0.93 -1.46 2.56 12/11 5.00 -0.58 4.42 4.00 4.00 0.00 0.00 -0.85 -0.51 1.09 -1.02 0.87 -0.42 2011 -11.89 -6.53 -18.42 -17.85 -17.85 0.00 0.00 -2.20 -0.50 3.53 -0.54 0.27 0.57 03/12 10.61 3.47 14.08 14.91 14.91 0.00 0.00 0.63 0.50 0.74 -0.71 -0.33 0.83 06/12 -4.92 -3.98 -8.90 -5.86 -5.86 0.00 0.00 -0.48 1.59 1.61 -0.03 0.34 3.04 09/12 6.02 1.72 7.74 7.18 7.18 0.00 0.00 0.11 0.22 0.77 -0.16 -1.51 -0.56 12/12 5.34 0.24 5.58 4.60 4.60 0.00 0.00 -0.62 1.42 -0.06 -0.94 -0.78 -0.97 2012 17.45 0.77 18.22 21.28 21.28 0.00 0.00 -0.35 3.78 3.09 -1.83 -1.63 3.06 03/13 -0.70 -0.92 -1.62 0.17 0.17 0.00 0.00 0.78 0.42 0.69 0.80 -0.90 1.79 06/13 -4.43 -3.65 -8.08 -3.95 -3.95 0.00 0.00 -0.79 -0.49 2.90 0.70 1.81 4.13 09/13 6.01 -0.25 5.77 8.94 8.94 0.00 0.00 -1.32 -0.42 0.54 2.05 2.32 3.17 12/13 3.01 -1.18 1.83 3.66 3.57 0.09 0.00 -0.15 0.20 1.71 0.36 -0.39 1.82 2013 3.64 -6.24 -2.60 8.65 8.55 0.09 0.00 -1.49 -0.29 5.95 3.96 3.02 11.25 03/14 -0.35 -0.08 -0.43 -1.73 -1.73 -0.00 0.00 -0.12 1.06 2.04 -1.95 -2.33 -1.29 06/14 5.65 0.95 6.59 7.88 7.88 0.00 0.00 -0.55 0.91 -0.19 1.26 -0.14 1.29 09/14 0.94 -4.44 -3.50 -3.52 -3.52 0.00 0.00 -0.60 1.57 0.69 0.34 -2.02 -0.02 12/14 0.67 -5.17 -4.50 -6.69 -6.69 0.00 0.00 0.36 -0.37 0.71 -0.65 -2.24 -2.19 2014 6.98 -9.17 -2.19 -4.55 -4.55 -0.00 0.00 -0.91 3.20 3.29 -1.03 -6.92 -2.36 03/15 5.13 -2.89 2.24 -1.28 -1.28 0.00 0.00 -0.54 -0.56 1.21 -2.77 -0.86 -3.52 06/15 1.01 -0.32 0.69 0.81 0.81 0.00 0.00 -0.39 0.77 -1.08 0.75 0.06 0.11 09/15 -11.69 -6.21 -17.89 -17.28 -17.28 0.00 0.00 0.86 -0.05 0.53 0.34 -1.06 0.61 Index : MSCI EM Index (N) 8 Chatham University Intl Equity Return Analysis Oppenheimer Emerging Quarter Ended 3/31/18
Index Intl Net Management Effect Local Index Index Total Equity Currency Country Country Quarter Currency Currency US $ Return Return Timing Hedging Currency Market Sector Stock Trading Total 12/15 1.84 -1.18 0.66 4.68 4.68 0.75 -0.74 -0.30 0.30 1.74 1.27 1.01 4.02 2015 -4.49 -10.42 -14.92 -13.83 -13.83 0.74 -0.74 -0.38 0.45 2.40 -0.46 -0.93 1.09 03/16 3.22 2.50 5.71 3.07 3.07 0.00 0.00 -0.56 -2.20 -0.57 -0.89 1.57 -2.65 06/16 1.79 -1.13 0.66 0.71 0.71 0.00 0.00 0.15 -0.67 0.61 -0.75 0.72 0.05 09/16 7.24 1.79 9.03 8.80 8.80 0.00 0.00 -1.07 2.43 0.34 -0.47 -1.45 -0.22 12/16 -0.64 -3.52 -4.16 -5.12 -5.12 0.00 0.00 0.43 -2.44 -2.01 -0.15 3.22 -0.95 2016 11.94 -0.76 11.18 7.16 7.16 0.00 0.00 -1.05 -2.93 -1.65 -2.25 3.84 -4.03 03/17 7.05 4.39 11.44 11.04 11.04 0.00 0.00 -0.63 2.52 0.63 -0.67 -2.26 -0.40 06/17 6.07 0.20 6.27 6.93 6.93 0.00 0.00 0.09 1.56 1.25 0.13 -2.36 0.66 09/17 7.70 0.19 7.89 8.27 8.27 0.00 0.00 -0.05 2.52 -0.13 -0.29 -1.67 0.38 12/17 6.82 0.62 7.43 5.07 5.07 0.00 0.00 -1.34 -0.72 0.54 -0.18 -0.67 -2.36 2017 30.62 6.65 37.28 35.08 35.08 0.00 0.00 -1.92 5.98 2.29 -1.01 -7.55 -2.20 03/18 0.70 0.72 1.42 2.96 2.96 0.00 0.00 -0.78 0.75 -0.50 1.88 0.20 1.55
From Inception 8.71 -2.03 6.68 8.47 1.79 From 12/10 To Present 6.82 -4.16 2.67 3.98 3.96 0.01 -0.10 -1.25 1.41 2.52 -0.20 -1.07 1.31 Avg Up Markets 6.78 1.22 8.01 8.14 0.13 Avg Down Markets -6.38 -3.11 -9.49 -8.62 0.87 Index : MSCI EM Index (N) 9 Chatham University Equity Summary Statistics Oppenheimer Emerging Quarter Ended 3/31/18
10 Largest Holdings 10 Best Performers Name %Port $(000) Name %Port %Return Taiwan Semiconductor 7.0 111 Samsung Biologics Co 1.1 31.84 Alibaba Group Hldg L 7.0 111 Jiangsu Hengrui Medi 1.4 30.55 Tencent Holdings Lim 5.8 93 Prada Spa 1.5 27.59 Housing Development 4.0 63 Shoprite Holdings 1.1 20.26 Novatek Pub Joint St 3.4 53 Sul America Sa 0.6 19.70 Glencore Plc 3.0 48 Commercial Intl Bank 0.5 17.17 Kering 2.7 43 Sinopharm Group Co. 2.5 15.81 Aia Group Limited 2.7 42 3sbio Inc 0.3 14.80 Sinopharm Group Co. 2.5 39 Zenith Bank Plc 0.2 14.29 Naver Corp 2.4 38 Novatek Pub Joint St 3.4 13.98
Portfolio Characteristic Distribution (%) 10 Worst Performers Quartile Mkt. Cap P/E Yield Name %Port %Return 1st 74.9 56.0 4.1 Indocement Tunggal P 0.4 -28.17 2nd 16.8 27.4 16.6 Zee Entertainment En 0.1 -19.77 3rd 6.4 11.4 33.2 Dr Reddys Laboratori 0.5 -15.66 4th 1.9 5.2 46.1 Sm Prime Holdings In 0.9 -14.02 MSCI EM Index (N) Apollo Hospitals 0.5 -13.52 Astra International 0.5 -13.33 25th Percentile 11,635,236 27.9 4.0 Bim Birlesik Magazal 0.4 -11.88 50th Percentile 5,857,922 15.9 2.4 Sm Investments Corpo 1.3 -11.38 75th Percentile 3,276,166 10.1 1.2 Ayala Land Inc 0.7 -11.30 Emaar Properties Pjs 0.4 -11.29
10 Chatham University Equity Holdings Oppenheimer Emerging Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Bermuda Credicorp Ltd MIN 9 77 207.430 227.040 2 17 0.1 1.1 9.45 2 17 0.1 1.1 9.45 Brazil Ambev Sa CON 2,290 0 6.460 7.270 15 0 1.0 0.0 12.89 Atacadao Sa MIS 0 3,893 4.597 4.513 0 18 0.0 1.1 NA B3 Sa - Brasil Bols FIN 4,311 0 6.867 8.030 30 0 1.9 0.0 16.94 Cielo Sa FIN 135 0 7.091 6.225 1 0 0.1 0.0 -10.64 Embraer S A CAP 522 0 23.930 26.000 12 0 0.8 0.0 8.72 Estacio Participacoe MIN 1,968 345 9.894 10.522 19 4 1.3 0.2 6.34 Itau Unibanco Banco FIN 0 986 13.000 15.600 0 15 0.0 1.0 NA Kroton Educacional S MIN 1,859 0 5.547 4.092 10 0 0.7 0.0 -25.74 Lojas Americanas Sa SRV 5,294 4,453 5.140 5.669 27 25 1.8 1.6 10.79 Natura Cosmeticos Sa CON 0 131 9.967 9.628 0 1 0.0 0.1 NA Sul America Sa FIN 1,219 1,440 5.625 6.604 7 10 0.4 0.6 19.70 Vale S A MAT 0 637 12.230 12.720 0 8 0.0 0.5 NA 122 81 7.9 5.1 8.85 Cayman Islands Alibaba Group Hldg L MIN 752 603 172.430 183.540 130 111 8.4 7.0 6.44 Baidu Com Inc SRV 238 0 234.210 223.190 56 0 3.6 0.0 -4.71 China Lodging Group MIN 211 224 144.430 131.710 30 30 2.0 1.9 -8.81 Ctrip Com Intl Ltd SRV 541 686 44.100 46.620 24 32 1.5 2.0 5.71 Hutchison China Medi CON 0 63 39.420 29.560 0 2 0.0 0.1 NA
11 Chatham University Equity Holdings Oppenheimer Emerging Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Cayman Islands (cont.) Melco Crown Entertai MIN 484 0 29.040 28.980 14 0 0.9 0.0 0.27 New Oriental Ed & Te MIN 328 157 94.000 87.650 31 14 2.0 0.9 -6.76 Soho China Limited CAP 7,932 0 0.585 0.524 5 0 0.3 0.0 -10.42 Sunny Optical Techno CAP 0 76 12.779 18.463 0 1 0.0 0.1 NA Want Want China Hold CON 13,980 9,159 0.838 0.801 12 7 0.8 0.5 -4.35 Wuxi Biologics (Caym MIS 0 361 5.590 9.614 0 3 0.0 0.2 NA Zto Express Cayman I MIN 0 613 15.850 14.990 0 9 0.0 0.6 NA 301 209 11.9 13.2 0.46 Chile Banco De Chile FIN 0 17,987 0.160 0.168 0 3 0.0 0.2 NA S.A.C.I Falabella SRV 0 144 9.975 9.648 0 1 0.0 0.1 NA 0 4 0.0 0.3 NA China 3sbio Inc CON 1,371 1,801 1.962 2.253 3 4 0.2 0.3 14.80 China Intl Capital C FIN 0 2,959 2.080 2.006 0 6 0.0 0.4 NA China Mobile Ltd SRV 0 1,754 10.138 9.168 0 16 0.0 1.0 NA China Pacific Insura FIN 633 0 4.803 4.479 3 0 0.2 0.0 -6.76 Jiangsu Hengrui Medi CON 1,503 1,565 10.593 13.829 16 22 1.0 1.4 30.55 Kweichow Moutai MAT 71 0 107.108 108.654 8 0 0.5 0.0 1.44 Sinopharm Group Co. CON 3,504 7,802 4.324 5.007 15 39 1.0 2.5 15.81 Tencent Holdings Lim SRV 2,214 1,775 51.936 52.190 115 93 7.4 5.8 0.49 159 179 13.9 11.3 5.10
12 Chatham University Equity Holdings Oppenheimer Emerging Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Colombia Gpo De Inversiones S FIN 758 596 13.503 13.347 10 8 0.7 0.5 0.56 Grupo Aval Acciones FIN 1,444 1,223 8.500 8.310 12 10 0.8 0.6 -1.51 23 18 1.5 1.1 -0.57 Egypt Commercial Intl Bank CON 1,619 1,656 4.357 5.049 7 8 0.5 0.5 17.17 7 8 0.5 0.5 17.17 France Kering SRV 86 90 471.914 478.166 41 43 2.6 2.7 1.83 Lvmh Moet Hennessy V CON 118 97 294.676 307.709 35 30 2.3 1.9 4.42 75 73 4.9 4.6 3.03 Hong Kong Aia Group Limited FIN 4,921 5,010 8.526 8.460 42 42 2.7 2.7 -0.77 Hang Lung Group CAP 1,123 376 3.678 3.268 4 1 0.3 0.1 -11.13 Hong Kong Exchanges FIN 359 236 30.676 32.517 11 8 0.7 0.5 6.00 Jardine Strategic Hl SRV 570 606 39.580 38.340 23 23 1.5 1.5 -2.57 Tingyi(Cayman Island CON 4,518 0 1.944 2.074 9 0 0.6 0.0 6.68 88 75 5.7 4.7 -0.13 India Apollo Hospitals CON 518 533 18.876 16.324 10 9 0.6 0.5 -13.52 Biocon CON 193 1,083 8.418 9.106 2 10 0.1 0.6 8.17 Cholamandalam Invest FIN 215 220 20.360 22.239 4 5 0.3 0.3 9.60 Dr Reddys Laboratori CON 295 239 37.824 31.900 11 8 0.7 0.5 -15.66
13 Chatham University Equity Holdings Oppenheimer Emerging Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) Glenmark Pharmaceuti MAT 491 0 9.318 8.069 5 0 0.3 0.0 -13.40 Housing Development FIN 3,029 2,247 26.797 27.991 81 63 5.3 4.0 4.66 Infosys Ltd SRV 2,264 726 16.326 17.353 37 13 2.4 0.8 6.29 Kotak Mahindra Bank FIN 1,200 1,913 15.827 16.065 19 31 1.2 1.9 1.50 Tata Consultancy Ser SRV 418 361 42.320 43.684 18 16 1.1 1.0 3.45 Ultratech Cement Ltd MAT 176 207 67.692 60.563 12 13 0.8 0.8 -10.53 Zee Entertainment En SRV 2,912 2,947 9.115 8.824 27 26 1.7 1.6 -3.20 Zee Entertainment En MIS 8,369 8,555 0.157 0.117 1 1 0.1 0.1 -19.77 226 193 14.6 12.1 0.67 Indonesia Astra International MIN 16,824 14,996 0.612 0.530 10 8 0.7 0.5 -13.33 Bank Central Asia FIN 0 2,745 1.614 1.692 0 5 0.0 0.3 NA Bank Mandiri(Persero FIN 10,327 21,901 0.590 0.557 6 12 0.4 0.8 -3.00 Bank Rakyat Indonesi FIN 0 20,490 0.268 0.261 0 5 0.0 0.3 NA Indocement Tunggal P MAT 5,210 5,655 1.618 1.162 8 7 0.5 0.4 -28.17 Semen Indonesia (Per MAT 3,077 0 0.730 0.752 2 0 0.1 0.0 3.03 27 37 1.8 2.3 -14.27 Italy Prada Spa CON 5,227 5,130 3.620 4.619 19 24 1.2 1.5 27.59 19 24 1.2 1.5 27.59 Japan Fast Retailing Co Lt SRV 23 0 398.668 406.582 9 0 0.6 0.0 2.40
14 Chatham University Equity Holdings Oppenheimer Emerging Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Japan (cont.) Murata Manufacturing CAP 120 0 134.221 137.000 16 0 1.0 0.0 2.99 25 0 1.6 0.0 2.77 Jordan Hikma Pharmaceutical CON 115 0 15.340 16.953 2 0 0.1 0.0 10.51 2 0 0.1 0.0 10.51 Malaysia Genting Berhad SRV 8,269 6,612 2.273 2.257 19 15 1.2 0.9 0.06 Genting Malaysia Bhd SRV 5,861 2,799 1.391 1.267 8 4 0.5 0.2 -7.56 27 18 1.7 1.2 -2.25 Mexico Fomento Econ Mexic CON 98 100 93.900 91.430 9 9 0.6 0.6 -2.63 Fomento Economico Me CAP 1,716 2,380 9.453 9.084 16 22 1.1 1.4 -3.90 Gpo Aeroportuario De MAT 478 489 18.301 16.787 9 8 0.6 0.5 -8.27 Grupo Financiero Ban SRV 2,764 0 5.511 6.088 15 0 1.0 0.0 10.47 Grupo Financiero Inb SRV 8,103 8,854 1.642 1.648 13 15 0.9 0.9 0.41 Grupo Mexico Sa CAP 0 6,450 3.318 3.317 0 21 0.0 1.3 NA Kimberly-Clark De Me CAP 2,112 2,911 1.771 1.865 4 5 0.2 0.3 5.30 66 80 4.3 5.1 0.38 Netherlands Yandex N V SRV 0 190 32.750 39.450 0 7 0.0 0.5 NA 0 7 0.0 0.5 NA
15 Chatham University Equity Holdings Oppenheimer Emerging Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Nigeria Nigerian Breweries CON 9,214 108 0.375 0.361 3 0 0.2 0.0 -1.22 Zenith Bank Plc FIN 57,178 39,727 0.071 0.081 4 3 0.3 0.2 14.29 8 3 0.5 0.2 7.18 Philippines Ayala Corp FIN 0 283 20.333 18.169 0 5 0.0 0.3 NA Ayala Land Inc FIN 8,411 14,074 0.893 0.788 8 11 0.5 0.7 -11.30 Bdo Unibank Inc FIN 733 0 3.285 2.664 2 0 0.2 0.0 -18.75 Jollibee Foods Corp MIN 1,881 1,937 5.068 5.730 10 11 0.6 0.7 13.07 Sm Investments Corpo FIN 1,160 1,195 19.832 17.575 23 21 1.5 1.3 -11.38 Sm Prime Holdings In FIN 21,823 21,148 0.751 0.646 16 14 1.1 0.9 -14.02 59 62 3.8 3.9 -8.45 Poland Bank Polska Kasa Opi FIN 439 0 37.268 35.997 16 0 1.1 0.0 -3.41 16 0 1.1 0.0 -3.41 Portugal Jeronimo Martins Sgp SRV 0 264 19.447 18.208 0 5 0.0 0.3 NA 0 5 0.0 0.3 NA Russia Novatek Pub Joint St ENR 324 390 120.200 137.000 39 53 2.5 3.4 13.98 Oil Company Lukoil P ENR 0 57 57.220 68.900 0 4 0.0 0.2 NA Sberbank of Russia FIN 1,536 697 16.930 18.630 26 13 1.7 0.8 10.04 65 70 4.2 4.4 12.40
16 Chatham University Equity Holdings Oppenheimer Emerging Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Africa Anglo American CAP 0 179 20.961 23.301 0 4 0.0 0.3 NA Firstrand Limited FIN 0 6,171 5.432 5.646 0 35 0.0 2.2 NA Shoprite Holdings SRV 343 808 17.867 21.317 6 17 0.4 1.1 20.26 Steinhoff Internatio CON 0 5,226 0.376 0.279 0 1 0.0 0.1 NA 6 58 0.4 3.6 20.26 South Korea Amorepacific Corp MAT 0 38 284.433 297.401 0 11 0.0 0.7 NA Amorepacific Group SRV 0 26 131.708 133.221 0 3 0.0 0.2 NA Celltrion Health Car MIS 0 38 101.443 99.916 0 4 0.0 0.2 NA Celltrion Inc MIS 0 10 206.529 290.365 0 3 0.0 0.2 NA Lg Household&Healthc MAT 16 26 1110.644 1133.315 18 29 1.2 1.9 2.04 Naver Corp SRV 20 51 812.666 743.034 16 38 1.1 2.4 -8.57 Samsung Biologics Co MAT 26 37 346.551 456.891 9 17 0.6 1.1 31.84 Samsung Electronics CAP 0 11 2380.085 2308.847 0 25 0.0 1.6 NA 43 131 2.8 8.2 4.27 Spain Prosegur Cash SRV 0 1,533 3.213 3.007 0 5 0.0 0.3 NA 0 5 0.0 0.3 NA Taiwan Largan Precision Co CAP 0 20 135.087 114.209 0 2 0.0 0.1 NA Taiwan Semiconductor CAP 9,054 13,184 7.712 8.437 70 111 4.5 7.0 9.40 70 114 4.5 7.1 9.40
17 Chatham University Equity Holdings Oppenheimer Emerging Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Thailand Cp All Public Compan SRV 3,535 0 2.363 2.814 8 0 0.5 0.0 19.11 8 0 0.5 0.0 19.11 Turkey Anadolu Efes Biracil CAP 1,253 1,730 6.383 6.760 8 12 0.5 0.7 5.92 Bim Birlesik Magazal SRV 431 394 20.598 18.150 9 7 0.6 0.4 -11.88 17 19 1.1 1.2 -3.45 United Arab Emirates Dp World Limited MIS 1,021 989 25.000 22.500 26 22 1.7 1.4 -8.44 Emaar Properties Pjs FIN 2,571 3,800 1.890 1.579 5 6 0.3 0.4 -11.29 30 28 2.0 1.8 -8.89 United Kingdom Glencore Plc CAP 3,354 9,740 5.276 4.963 18 48 1.1 3.0 -5.93 Mediclinic Internati CON 411 1,010 8.786 8.431 4 9 0.2 0.5 -4.04 Old Mutual Plc FIN 5,664 0 3.069 3.412 17 0 1.1 0.0 11.16 Unilever Plc CON 0 188 55.808 55.488 0 10 0.0 0.7 NA 39 67 2.5 4.2 1.93 United States Cognizant Technology SRV 36 0 71.020 80.500 3 0 0.2 0.0 13.63 Mercadolibre Inc CAP 9 3 314.660 356.390 3 1 0.2 0.1 13.26 Nike Inc CON 124 0 62.550 66.440 8 0 0.5 0.0 6.54 13 1 4.8 0.1 9.37
18 Chatham University Equity Holdings Oppenheimer Emerging Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Vietnam Vietnam Dairy Produc MIS 0 313 9.186 8.900 0 3 0.0 0.2 NA 0 3 0.0 0.2 NA
19 Chatham University Custom Benchmark Specification Oppenheimer Emerging Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description MSCI EM Index (N) 12/05 3/18 100.00 MSCI EM Index (N)
20 Chatham University Growth of One Dollar Vanguard Dev Mkt Quarter Ended 3/31/18
1.20
1.10 Value
1.00
0.90 3/17 6/17 9/17 12/17 3/18
Return $ Legend 1 Year Inception 3/31/17 Value Total 16.02 16.02 1.16 FTSE Developed All Cap ex US Index 15.93 15.93 1.16
1 Chatham University Value Added Analysis Vanguard Dev Mkt Quarter Ended 3/31/18
0.7% 0.63 0.6%
0.5%
0.4%
0.3%
0.2%
0.1% 0.10
0.0%
-0.1%
-0.2% -0.16
-0.3%
-0.4%
-0.5%
-0.53 -0.6%
-0.7%
-0.8% 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. FTSE Developed All Cap ex US Index Cumulative Value Added
2 Chatham University Intl Equity Structural Characteristics Vanguard Dev Mkt Quarter Ended 3/31/18
# %Intl Sectors Turn- Quarter $(000) Stocks Equity %Cash %Other ENR MAT CAP CON SRV FIN MIN GMN MIS Over 03/31/17 9,855 3,790 100 0 0 7.6 9.8 16.5 21.4 17.5 23.5 1.9 0.4 1.2 NA 06/30/17 10,485 3,679 100 0 0 6.7 9.7 16.1 19.2 17.4 21.7 2.0 0.5 6.7 NA 09/30/17 10,547 3,730 100 0 0 6.8 9.7 16.5 18.8 17.3 21.7 2.0 0.5 6.7 NA 12/31/17 11,017 3,711 100 0 0 6.9 9.7 16.7 18.4 17.4 21.5 2.0 0.4 6.9 NA 03/31/18 10,897 3,868 100 0 0 7.4 9.3 17.5 20.6 17.6 23.2 2.1 0.4 1.8 NA
FTSE Developed All Cap ex US Index NA NA 100 0 0 NA NA NA NA NA NA NA NA NA NA
3 Chatham University Intl Equity Investment Characteristics Vanguard Dev Mkt Quarter Ended 3/31/18
Growth Average Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Mkt Cap $(Mil) P/E P/B YLD ROE Beta Debt/Eqty 03/31/17 7.7 9.6 45,994 21.4 1.6 3.0 14.1 0.98 0.79 06/30/17 10.1 10.2 45,896 20.0 1.6 2.9 13.9 0.98 0.79 09/30/17 10.1 10.3 48,556 20.1 1.7 2.8 13.9 0.98 0.77 12/31/17 10.3 10.3 48,842 20.5 1.7 2.7 14.2 0.97 0.76 03/31/18 11.7 10.0 49,089 17.9 1.6 3.1 15.7 0.97 0.75
FTSE Developed All Cap ex US Index NA NA NA NA NA NA NA NA NA
4 Chatham University Intl Equity Return Analysis Vanguard Dev Mkt Quarter Ended 3/31/18
Index Intl Net Management Effect Local Index Index Total Equity Currency Country Country Quarter Currency Currency US $ Return Return Timing Hedging Currency Market Sector Stock Trading Total 06/17 NA NA 6.29 6.38 6.38 0.00 0.00 NA NA NA NA NA 0.10 09/17 NA NA 5.71 5.56 5.49 0.07 0.00 NA NA NA NA NA -0.16 12/17 NA NA 4.98 4.45 4.45 0.00 0.00 NA NA NA NA NA -0.53
03/18 NA NA -1.72 -1.08 -1.08 0.00 0.00 NA NA NA NA NA 0.63
From Inception 15.93 16.02 15.94 0.08 0.00 0.09 Avg Up Markets 5.66 5.46 5.44 0.02 0.00 -0.20 Avg Down Markets -1.72 -1.08 -1.08 0.00 0.00 0.63 Index : FTSE Developed All Cap ex US Index 5 Chatham University Equity Summary Statistics Vanguard Dev Mkt Quarter Ended 3/31/18
10 Largest Holdings 10 Best Performers Name %Port $(000) Name %Port %Return Nestle Sa 1.3 137 Pharmicell Co Ltd 0.0 176.64 Samsung Electronics 1.0 109 Freeman Fintech Co L 0.0 168.17 Hsbc Holdings Plc 1.0 105 Medical Data Vision 0.0 111.20 Novartis Ag 0.9 98 Bellamys Australia L 0.0 86.01 Toyota Motor Corp 0.9 93 Hlb Co Ltd 0.0 82.16 Roche Holdings Ag 0.8 89 Lutronic Corporation 0.0 80.09 Royal Dutch Shell 0.7 80 Istyle Inc 0.0 78.51 Bp 0.7 73 V Technology 0.0 77.87 British American Tob 0.7 72 Flow Traders Nv 0.0 77.29 Total Sa 0.7 72 Pou Sheng Intl (Hold 0.0 75.41
Portfolio Characteristic Distribution (%) 10 Worst Performers Quartile Mkt. Cap P/E Yield Name %Port %Return 1st 100.0 100.0 100.0 Retail Food Group Li 0.0 -63.08 2nd 0.0 0.0 0.0 Capita Plc 0.0 -62.74 3rd 0.0 0.0 0.0 Sino Oil and Gas Hol 0.0 -60.87 4th 0.0 0.0 0.0 Noble Group 0.0 -60.25 FTSE Developed All Cap ex US Index Micro Focus Internat 0.0 -58.96 Micro Focus Internat 0.0 -57.75 25th Percentile Beadell Resources Li 0.0 -57.50 50th Percentile Element Fleet Manage 0.0 -56.75 75th Percentile Kingston Financial G 0.0 -53.38 Interflex Co Ltd 0.0 -51.35
6 Chatham University Custom Benchmark Specification Vanguard Dev Mkt Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description FTSE Developed All Cap ex US Ind 3/17 3/18 100.00 FTSE Developed All Cap ex US Index
7 Chatham University Fund Return Table Quarter Ended 3/31/18
Since Inception Inception Manager 1 Quarter 2 Quarters 3 Quarters 1 Year 3 Years 5 Years 3/31/08 Date Return Aberdeen Global -1.51 3.54 7.40 13.97 5.99 5.46 3/31/12 6.71 MSCI All Country World Index -0.84 4.94 10.51 15.43 8.71 9.79 3/31/12 10.02 Value Added -0.67 -1.40 -3.11 -1.47 -2.72 -4.33 -3.30
Epoch Global -5.02 -1.86 1.53 4.54 4.22 6.67 3/31/12 7.76 MSCI All Country World Index -0.84 4.94 10.51 15.43 8.71 9.79 3/31/12 10.02 Value Added -4.17 -6.81 -8.98 -10.90 -4.48 -3.11 -2.26
Global Equity Composite -3.23 0.87 4.50 9.38 5.37 6.25 3/31/12 7.39 MSCI All Country World Index -0.84 4.94 10.51 15.43 8.71 9.79 3/31/12 10.02 Value Added -2.38 -4.07 -6.02 -6.05 -3.33 -3.53 -2.63
1 Chatham University Growth of One Dollar Global Equity Composite Quarter Ended 3/31/18
1.90
1.80
1.70
1.60
1.50
1.40 Value 1.30
1.20
1.10
1.00
0.90 3/12 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 3/31/12 Value Total 5.37 7.39 1.53 MSCI All Country World Index 8.71 10.02 1.77
2 Chatham University Value Added Analysis Global Equity Composite Quarter Ended 3/31/18
6.0%
4.32 4.0%
2.0% 1.83 1.80 0.99 0.24 0.22 0.0% 0.13 -0.2 -0.95 -2.0% -1.35 -1.85 -1.71 -1.6 -2.28 -2.14 -2.62 -2.58 -2.38 -4.0% -2.92 -3.72
-6.0%
-8.0%
-10.0%
-12.0%
-14.0%
-16.0%
-18.0% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. MSCI All Country World Index Cumulative Value Added 2 Yr Rolling Avg (Annualized)
3 Chatham University Performance Comparison TUCS Total Ret of Total Equity Investment Pools Periods Ended 3/31/18 20% 18% 16% 1 1 14% 12% 1 10% 1 8% 1 6%
Rate of Return 1 4% 2% 5th 0% 25th Med 75th 1 -2% 95th -4% Manager returns are Gross of Fees 1 Quarter 2 Quarters 3 Quarters 1 Year 2 Years 3 Years 5 Years 10 Years
Global Equity Composite -3.04 (100) 1.16 (100) 4.90 (100) 9.90 (95) 10.56 (99) 5.82 (95) 6.70 (94) 1 MSCI All Country -0.84 (75) 4.94 (60) 10.51 (48) 15.43 (39) 15.56 (62) 8.71 (64) 9.79 (75)
Median -0.49 5.07 10.45 14.67 16.06 9.34 10.94 8.01 Number of Funds 63 62 59 57 57 50 44 40
4 Chatham University Performance Comparison TUCS Total Ret of Global Equity Portfolios Periods Ended 3/31/18 30%
25%
20%
1 2 15% χ 1 2 χ
10% 1 2 1 2 1 2 χ β β χ χ Rate of Return 5% β β 5th χ 1 2 β 25th 0% Med 75th χ 1 2 β 95th -5% β
-10% Manager returns are Gross of Fees 1 Quarter 2 Quarters 3 Quarters 1 Year 2 Years 3 Years 5 Years 10 Years
χ Aberdeen Global -1.33 (66) 3.73 (63) 7.60 (73) 14.18 (65) 14.08 (62) 6.05 (80) 5.50 (92) 1 MSCI All Country -0.84 (57) 4.94 (46) 10.51 (48) 15.43 (54) 15.56 (49) 8.71 (44) 9.79 (56) β Epoch Global -4.83 (97) -1.47 (97) 2.15 (95) 5.37 (95) 6.74 (97) 5.06 (89) 7.53 (79) 2 MSCI All Country -0.84 (57) 4.94 (46) 10.51 (48) 15.43 (54) 15.56 (49) 8.71 (44) 9.79 (56)
Median -0.74 4.72 10.34 16.02 15.43 8.49 10.10 6.60 Number of Funds 273 273 264 262 258 250 232 144
5 Chatham University Intl Equity Fund Structural Characteristics Global Equity Composite Quarter Ended 3/31/18
%Intl Sectors Turn- Manager US$(000) # Equity %Cash%Other ENR MAT IND CDI CST HTH FIN INF TEL UTL RES Over Aberdeen Global 2,209 37 100 0 0 4 7 11 3 20 14 17 16 5 0 4 NA Epoch Global 2,043 46 100 0 0 10 2 8 4 13 11 22 1 16 12 0 NA Global Equity Composite 4,252 77 100 0 0 6 5 10 4 17 12 19 10 9 5 2 NA
MSCI World (N) 39,672,821 1,649 100 0 0 6 5 12 13 9 12 18 18 3 3 3 NA
6 Chatham University Intl Equity Investment Characteristics Global Equity Composite Quarter Ended 3/31/18
Growth Average Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Mkt Cap $(Mil) P/E P/B YLD ROE Beta Debt/Eqty 03/31/12 3.2 6.5 68,233 14.3 2.2 3.9 119.7 0.81 0.70 06/30/12 2.3 5.3 64,253 14.6 2.0 3.7 125.8 0.84 0.80 09/30/12 2.4 5.8 70,582 14.6 2.2 3.9 121.7 0.82 0.75 12/31/12 2.2 5.9 69,300 15.3 2.2 3.9 110.5 0.78 0.78 03/31/13 2.3 5.1 74,244 15.7 2.3 3.7 86.7 0.78 0.77 06/30/13 3.1 6.3 72,567 16.5 2.1 3.8 86.2 0.81 0.80 09/30/13 3.0 6.2 75,937 17.3 2.2 3.7 91.1 0.80 0.81 12/31/13 3.2 6.6 80,273 17.7 2.3 3.6 79.9 0.82 0.81 03/31/14 5.5 7.2 81,282 17.7 2.2 3.6 20.3 0.82 0.90 06/30/14 6.1 7.3 85,655 17.5 2.2 3.5 20.3 0.84 0.87 09/30/14 5.9 7.2 82,255 17.5 2.3 3.6 20.7 0.85 0.88 12/31/14 3.3 6.3 67,122 15.8 2.4 3.5 18.4 0.80 1.04 03/31/15 6.4 8.3 79,521 17.6 2.2 3.6 22.0 0.82 1.10 06/30/15 6.0 8.1 67,047 16.1 1.8 3.9 19.3 0.90 0.99 09/30/15 5.7 7.7 61,657 15.3 1.6 4.2 19.1 0.93 0.97 12/31/15 3.4 7.3 63,989 16.1 1.6 4.6 21.7 0.91 1.00 03/31/16 3.9 7.3 61,170 17.2 1.7 3.7 21.5 0.90 0.92 06/30/16 4.5 7.7 63,031 20.5 1.7 3.2 20.4 0.89 0.85 09/30/16 4.4 7.3 66,674 23.4 1.8 3.2 19.9 0.90 0.86 12/31/16 -0.6 3.9 42,118 34.2 2.0 2.7 10.2 0.88 0.72 03/31/17 2.2 7.9 67,685 29.8 1.8 3.0 15.1 0.92 0.65 06/30/17 -7.0 3.6 48,414 NM 3.0 2.6 17.5 0.92 1.24 MSCI World (N) 9.3 7.8 131,157 21.6 2.2 2.4 29.7 1.00 0.90
7 Chatham University Intl Equity Investment Characteristics Global Equity Composite Quarter Ended 3/31/18
Growth Average Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Mkt Cap $(Mil) P/E P/B YLD ROE Beta Debt/Eqty 09/30/17 3.8 7.6 73,084 22.2 1.7 3.3 15.1 0.93 0.62 12/31/17 -3.4 4.6 57,799 NM 2.6 2.8 17.6 0.93 1.08 03/31/18 5.1 7.0 66,211 18.3 1.8 3.4 17.6 0.95 0.68
MSCI World (N) 9.3 7.8 131,157 21.6 2.2 2.4 29.7 1.00 0.90
8 Chatham University Equity Sector Attribution Analysis Global Equity Composite Quarter Ended 3/31/18
Portfolio MSCI World (N) Selection Sector Mkt Val % Return Mkt Val % Return Stock Sector Total Industrials 37.56 5.36 11.67 -1.46 2.56 -0.08 2.48 Energy 5.31 1.26 6.33 -5.19 0.34 0.04 0.38 Financials 12.83 -0.53 18.12 -1.80 0.16 0.04 0.20 Materials 3.30 -2.29 5.17 -4.32 0.07 0.06 0.13 Health Care 8.70 0.36 11.77 -1.04 0.12 -0.00 0.12 Real Estate 1.24 -5.75 3.11 -3.60 -0.03 0.05 0.02 Utilities 4.30 -1.73 2.97 -1.50 -0.01 -0.00 -0.01 Consumer Discretionary 2.80 -0.96 12.27 1.91 -0.08 -0.29 -0.37 Consumer Staples 11.44 -8.21 9.05 -5.17 -0.35 -0.10 -0.45 Information Technology 4.15 4.13 16.78 3.48 0.03 -0.58 -0.56 Telecom Services 8.36 -10.41 2.78 -5.64 -0.40 -0.25 -0.65 Quarter Total 100.00 0.15 100.00 -1.13 2.42 -1.13 1.29
Stock Selection Return Attribution = [ Portfolio Market Value Sector Percent ] x [ Portfolio Sector Return - Index Sector Return]
Sector Selection Return Attribution = [ Portfolio Sector Percent - Index Sector Percent ] x [ Index Sector Return - Index Total Return ]
Trading Effect -3.20% = [ Actual Return -3.04% ] - [ Buy Hold Return 0.15% ]
9 Chatham University Equity Summary Statistics Global Equity Composite Quarter Ended 3/31/18
10 Largest Holdings 10 Best Performers Name %Port $(000) Name %Port %Return Vodafone Group 3.7 95 Banco Bradesco S A 2.4 16.17 Novartis Ag 3.5 89 Sysmex Corp 1.8 15.49 British American Tob 2.9 74 Glaxosmithkline 1.5 11.24 Roche Holdings Ag 2.6 67 Keyence Corp 1.8 10.91 Samsung Electronics 2.6 65 Statoil Asa 1.0 10.89 Nestle Sa 2.5 64 Taiwan Semiconductor 2.4 9.40 Banco Bradesco S A 2.4 62 Swire Pacific 0.9 8.97 Taiwan Semiconductor 2.4 60 Tenaris S A 1.0 8.82 Henkel Ag&Co. Kgaa 2.3 59 Muenchener Rueckvers 1.5 7.01 Aia Group Limited 2.0 52 Rolls Royce Holdings 1.3 6.71
Portfolio Characteristic Distribution (%) 10 Worst Performers Quartile Mkt. Cap P/E Yield Name %Port %Return 1st 67.1 15.3 48.6 Imperial Brands Plc 1.3 -18.73 2nd 22.3 35.0 23.3 Vodafone Group 3.7 -14.30 3rd 6.6 34.9 19.6 Daito Trust Construc 1.3 -13.89 4th 4.0 14.8 8.5 British American Tob 2.9 -13.56 MSCI World (N) Pembina Pipeline Cor 0.6 -13.03 Rogers Communication 0.8 -11.98 25th Percentile 27,429,536 29.9 3.4 Axa 1.3 -10.56 50th Percentile 12,923,593 19.9 2.1 Japan Tobacco Inc 1.5 -10.56 75th Percentile 7,635,200 12.6 1.1 Westpac Banking Corp 0.8 -10.47 Bce Inc 1.5 -9.57
10 Chatham University Growth of One Dollar Aberdeen Global Quarter Ended 3/31/18
1.90
1.80
1.70
1.60
1.50
1.40 Value 1.30
1.20
1.10
1.00
0.90 3/12 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 3/31/12 Value Total 5.99 6.71 1.48 MSCI All Country World Index 8.71 10.02 1.77
1 Chatham University Value Added Analysis Aberdeen Global Quarter Ended 3/31/18
6.0%
4.0% 3.14 2.33 2.0% 1.74 1.66 1.27
0.0% 0.02
-0.71 -0.67 -2.0% -1.21 -1.01 -1.58 -1.97 -2.25 -1.92 -2.09 -2.79 -4.0% -2.95 -2.93 -3.78 -4.2 -6.0%
-8.0%
-10.0%
-12.0%
-14.0%
-16.0%
-18.0%
-20.0% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. MSCI All Country World Index Cumulative Value Added 2 Yr Rolling Avg (Annualized)
2 Chatham University Country Allocations Aberdeen Global Quarter Ended 3/31/18 Norway Portugal Scotland Spain Sweden Switzerland United Kingdom Total Europe Bermuda Brazil Canada Cayman Islands Mexico Netherland Antilles Panama United States Total Americas Australia Hong Kong India Japan New Zealand Papua-New Guinea China Singapore South Korea Taiwan Thailand Total Pacific Basin Israel Liberia Macau South Africa Zambia Total Other Austria Belgium Bulgaria Denmark Finland France Germany Ireland Isle of Man Italy Luxembourg Netherlands 3/12 0.0 0.0 0.0 0.0 0.0 1.5 0.0 0.0 0.0 2.6 3.0 0.0 0.0 0.0 0.0 0.0 4.2 12.9 19.0 43.2 0.0 5.7 3.1 0.0 2.2 0.9 0.0 22.7 34.6 2.5 2.1 0.0 6.6 0.0 0.0 2.9 1.0 2.9 4.2 0.0 22.2 0.0 0.0 0.0 0.0 0.0 0.0 6/12 0.0 0.0 0.0 0.0 0.0 1.1 0.0 0.0 0.0 5.9 0.0 0.0 0.0 0.0 0.0 0.0 4.7 10.3 7.0 28.9 0.0 6.3 3.6 0.0 2.4 1.1 0.0 37.5 50.8 2.1 2.0 0.0 6.8 0.0 0.0 1.5 1.1 2.6 4.1 0.0 20.2 0.0 0.0 0.0 0.0 0.0 0.0 9/12 0.0 0.0 0.0 0.0 0.0 1.0 0.0 0.0 0.0 2.5 3.0 0.0 0.0 0.0 0.0 0.0 4.7 13.3 18.2 42.7 0.0 6.2 4.1 0.0 2.2 1.0 0.0 21.9 35.3 2.1 2.1 0.0 6.1 0.0 0.0 3.3 1.1 2.7 4.5 0.0 22.0 0.0 0.0 0.0 0.0 0.0 0.0 12/12 0.0 0.0 0.0 0.0 0.0 1.1 0.0 0.0 0.0 2.7 3.3 0.0 0.0 0.0 0.0 0.0 4.9 13.2 17.8 43.0 0.0 6.8 3.9 0.0 2.3 0.9 0.0 22.5 36.5 1.7 2.1 0.0 6.4 0.0 0.0 2.6 1.1 2.5 4.0 0.0 20.5 0.0 0.0 0.0 0.0 0.0 0.0 3/13 0.0 0.0 0.0 0.0 0.0 1.0 0.0 0.0 0.0 2.3 2.9 0.0 0.0 0.0 0.0 0.0 4.9 13.6 17.8 42.5 0.0 5.6 4.0 0.0 2.3 1.5 0.0 24.7 38.1 1.7 2.7 0.0 5.9 0.0 0.0 1.9 0.9 2.5 3.8 0.0 19.4 0.0 0.0 0.0 0.0 0.0 0.0 6/13 0.0 0.0 0.0 0.0 0.0 1.0 0.0 0.0 0.0 2.3 2.9 0.0 0.0 0.0 0.0 0.0 4.4 12.8 18.5 42.0 0.0 4.7 4.1 0.0 2.0 2.0 0.0 25.6 38.3 1.6 2.6 0.0 6.2 0.0 0.0 0.9 1.0 2.6 3.8 0.0 18.6 0.0 0.0 0.0 1.0 0.0 1.0 9/13 0.0 0.0 0.0 0.0 0.0 1.1 0.0 0.0 0.0 2.6 3.0 0.0 0.0 0.0 0.0 0.0 4.9 12.1 19.0 42.8 0.0 6.8 4.0 0.0 2.0 2.3 0.0 24.6 39.8 1.4 2.5 0.0 4.5 0.0 0.0 1.4 0.9 2.6 3.0 0.0 16.4 0.0 0.0 0.0 1.1 0.0 1.1 12/13 0.0 0.0 0.0 0.0 0.0 1.1 0.0 0.0 0.0 2.5 2.8 0.0 0.0 0.0 0.0 0.0 4.6 12.0 18.9 41.9 0.0 5.9 4.2 0.0 2.2 2.0 0.0 26.4 40.8 1.1 2.5 0.0 4.7 0.0 0.0 1.5 0.9 2.5 3.0 0.0 16.3 0.0 0.0 0.0 1.1 0.0 1.1 3/14 0.0 0.0 0.0 0.0 0.0 1.1 0.0 0.0 0.0 2.6 2.8 0.0 0.0 0.0 0.0 0.0 4.2 12.4 16.9 39.8 0.0 6.3 4.3 0.0 2.1 2.1 0.0 27.3 42.1 1.3 2.4 0.0 4.6 0.0 0.0 1.4 1.0 2.6 3.2 0.0 16.4 0.0 0.0 0.0 1.6 0.0 1.6 6/14 0.0 0.0 0.0 0.0 0.0 1.1 0.0 0.0 0.0 2.7 3.4 0.0 0.0 0.0 0.0 0.0 4.2 12.0 16.4 39.8 0.0 6.5 4.5 0.0 2.0 2.5 0.0 27.2 42.6 0.0 2.4 0.0 5.2 0.0 0.0 1.6 0.9 2.6 3.2 0.0 16.0 0.0 0.0 0.0 1.6 0.0 1.6 9/14 0.0 0.0 0.0 0.0 0.0 0.9 0.0 0.0 0.0 1.9 3.3 0.0 0.0 0.0 0.0 0.0 5.0 11.8 15.8 38.8 0.0 5.8 4.3 0.0 2.0 2.6 0.0 27.6 42.3 0.0 2.5 0.0 7.1 0.0 0.0 1.7 0.9 2.1 3.0 0.0 17.3 0.0 0.0 0.0 1.6 0.0 1.6 12/14 0.0 0.0 0.0 0.0 0.0 0.5 0.0 0.0 0.0 0.8 1.3 0.0 0.0 0.0 0.0 0.0 2.8 6.8 52.0 64.2 0.1 2.9 2.5 0.0 1.1 1.3 0.0 17.5 25.4 0.0 1.6 0.0 3.9 0.0 0.0 0.0 0.5 1.4 2.0 0.0 9.5 0.0 0.0 0.0 0.9 0.0 0.9 3/15 0.0 0.0 0.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0 2.1 0.0 0.0 0.0 0.0 0.0 5.1 11.9 15.2 35.3 1.0 4.0 4.2 0.0 2.1 2.2 0.0 32.0 45.5 0.0 3.2 0.0 7.8 0.0 0.0 0.0 1.0 2.6 3.1 0.0 17.7 0.0 0.0 0.0 1.5 0.0 1.5 6/15 0.0 0.0 0.0 0.0 0.0 1.5 1.0 0.0 0.0 0.0 2.1 0.0 0.0 0.0 0.0 0.0 4.7 11.6 14.2 35.1 1.1 3.9 3.9 0.0 2.1 2.3 0.0 31.5 44.9 0.1 3.3 0.0 8.4 0.0 0.0 0.0 1.0 2.4 3.1 0.0 18.3 0.0 0.0 0.0 1.7 0.0 1.7 9/15 0.0 0.0 0.0 0.0 0.0 1.6 1.6 0.0 0.0 0.0 2.1 0.0 0.0 0.0 0.0 0.0 4.8 11.8 15.8 37.8 1.1 3.0 3.5 0.0 2.1 2.0 0.0 30.3 42.0 0.0 3.1 0.0 7.6 0.0 0.0 0.0 1.0 2.7 3.3 0.0 17.6 1.0 0.0 0.0 1.6 0.0 2.6 12/15 0.0 0.0 0.0 0.0 0.0 1.7 3.0 0.0 0.0 0.0 1.5 0.0 0.0 0.0 0.0 0.0 3.3 11.5 14.4 35.3 1.6 2.6 3.4 0.0 2.2 0.0 0.0 32.8 42.6 0.0 1.5 1.0 8.8 0.0 0.0 0.0 1.0 3.2 3.7 0.0 19.3 1.7 0.0 0.0 1.1 0.0 2.8 3/16 0.0 0.0 0.0 0.0 0.0 1.7 3.1 0.0 0.0 0.0 1.4 0.0 0.0 0.0 0.0 0.0 1.6 9.1 15.2 32.0 1.7 1.6 3.0 0.0 2.1 0.0 0.0 34.0 42.4 0.0 4.1 1.9 8.3 0.0 0.0 0.0 1.0 3.1 3.2 1.0 22.5 2.0 0.0 0.0 1.0 0.0 3.0 6/16 0.0 0.0 0.0 0.0 0.0 0.0 3.7 0.0 0.0 0.0 1.5 0.0 0.0 0.0 0.0 0.0 1.5 9.6 13.6 30.0 1.6 1.7 2.5 0.0 2.1 0.0 0.0 34.1 41.9 0.0 4.2 2.6 9.9 0.0 0.0 0.0 1.0 3.2 3.1 1.1 25.1 2.0 0.0 0.0 1.0 0.0 3.0 9/16 0.0 0.0 0.0 0.0 0.0 0.0 4.4 0.0 0.0 0.0 1.7 0.0 0.0 0.0 0.0 0.0 1.7 9.8 14.7 32.2 1.6 1.9 1.7 0.0 2.2 0.0 0.0 34.6 42.0 0.0 3.3 2.7 9.3 0.0 0.0 0.0 0.0 2.8 3.3 1.1 22.5 2.2 0.0 0.0 1.0 0.0 3.3 12/16 0.0 0.0 0.0 0.0 0.0 0.0 2.1 0.0 0.0 0.0 0.8 0.0 0.0 0.0 0.0 0.0 0.8 4.9 55.5 64.1 0.8 1.1 0.8 0.0 1.1 0.0 0.0 17.0 20.8 0.0 2.1 1.7 5.4 0.0 0.0 0.0 0.5 1.4 1.6 0.8 13.5 1.0 0.0 0.0 0.6 0.0 1.6 3/17 0.0 0.0 0.0 0.0 0.0 0.0 3.9 0.0 0.0 0.0 1.4 0.0 0.0 0.0 0.0 0.0 1.7 9.2 15.4 31.5 1.7 2.3 1.3 0.0 2.2 1.3 0.0 29.8 38.7 0.0 4.2 3.6 10.3 0.0 0.0 0.0 1.2 2.6 3.2 1.6 26.7 2.0 0.0 0.0 1.0 0.0 3.0 6/17 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.0 0.0 0.0 0.5 0.0 0.0 0.0 0.0 0.0 0.7 3.5 65.3 71.7 0.6 1.0 0.6 0.0 0.9 0.6 0.0 12.3 16.1 0.0 1.7 1.4 4.6 0.0 0.0 0.0 0.4 0.9 1.3 0.7 11.0 0.8 0.0 0.0 0.4 0.0 1.2 9/17 0.0 0.0 0.0 0.0 0.0 0.0 4.3 0.0 0.0 0.0 1.4 0.0 0.0 0.0 0.0 0.0 1.6 9.1 15.5 31.8 1.6 2.6 1.6 0.0 2.1 0.0 0.0 30.9 38.7 0.0 4.2 3.4 11.3 0.0 0.0 0.0 0.4 2.1 3.2 1.7 26.3 2.2 0.0 0.0 1.0 0.0 3.2 12/17 0.0 0.0 0.0 0.0 0.0 0.0 2.5 0.0 0.0 0.0 0.9 0.0 0.0 0.0 0.0 0.0 0.9 4.9 48.2 57.4 0.8 1.4 0.9 0.0 1.3 0.0 0.0 20.2 24.6 0.0 2.5 2.0 6.6 0.0 0.0 0.0 0.6 1.2 1.8 1.2 16.0 1.2 0.0 0.0 0.7 0.0 2.0 3/18 0.0 0.0 0.0 0.0 0.0 0.0 5.9 0.0 0.0 0.0 1.2 0.0 0.0 0.0 0.0 0.0 1.5 7.1 16.0 31.7 1.5 2.8 1.5 0.0 2.2 0.0 0.0 30.5 38.5 0.0 3.4 3.5 11.1 0.0 0.0 0.0 1.2 2.9 2.7 1.9 26.6 2.1 0.0 0.0 1.1 0.0 3.2
*Idx 0.1 0.4 0.0 0.7 0.4 4.1 3.6 0.2 +0 0.9 0.0 1.4 0.3 0.1 +0 1.2 1.0 2.9 6.4 23.6 0.0 0.0 3.4 0.0 0.0 0.2 0.0 59.5 63.1 2.4 1.3 0.0 9.1 0.1 0.0 0.0 0.5 0.0 0.0 0.0 13.5 0.2 0.1 0.1 0.0 +0 0.3 *Idx - MSCI World (N)
3 Chatham University Intl Equity Structural Characteristics Aberdeen Global Quarter Ended 3/31/18
# %Intl Sectors Turn- Quarter $(000) Stocks Equity %Cash %Other ENR MAT CAP CON SRV FIN MIN GMN MIS Over 03/31/12 2,035 46 100 0 0 11.3 3.7 21.7 28.8 15.7 17.9 1.0 0.0 0.0 NA 06/30/12 1,980 45 100 0 0 4.7 1.6 8.8 7.1 1.6 14.4 1.0 0.0 60.7 NA 09/30/12 2,107 44 100 0 0 11.8 5.2 23.7 27.9 13.4 17.1 1.1 0.0 0.0 NA 12/31/12 2,185 46 100 0 0 11.8 7.0 20.5 27.4 14.7 17.6 1.0 0.0 0.0 NA 03/31/13 2,304 47 100 0 0 11.3 6.5 19.9 29.4 14.5 17.4 1.0 0.0 0.0 NA 06/30/13 2,253 48 100 0 0 12.0 6.9 21.8 27.4 14.5 16.3 1.0 0.0 0.0 NA 09/30/13 2,407 47 100 0 0 13.5 7.2 21.2 26.1 14.3 16.8 0.9 0.0 0.0 NA 12/31/13 2,494 47 100 0 0 12.9 7.2 20.5 27.3 15.3 15.8 1.0 0.0 0.0 NA 03/31/14 2,568 48 100 0 0 13.0 7.4 21.3 27.4 14.6 15.3 1.0 0.0 0.0 NA 06/30/14 2,703 46 100 0 0 13.2 7.9 22.9 26.3 13.7 15.0 1.0 0.0 0.0 NA 09/30/14 2,616 48 100 0 0 11.5 8.5 23.7 27.2 13.6 14.6 1.0 0.0 0.0 NA 12/31/14 2,520 47 100 0 0 5.6 5.1 55.9 15.6 8.7 8.5 0.6 0.0 0.0 NA 03/31/15 2,525 48 100 0 0 7.7 8.2 22.2 26.2 19.3 15.2 1.1 0.0 0.0 NA 06/30/15 2,489 35 100 0 0 3.5 9.6 22.9 26.6 15.7 20.1 1.5 0.0 0.0 NA 09/30/15 2,183 36 100 0 0 3.0 7.9 23.7 27.5 18.6 17.9 1.5 0.0 0.0 NA 12/31/15 2,235 35 100 0 0 3.0 8.1 18.2 33.4 20.6 15.0 1.6 0.0 0.0 NA 03/31/16 2,314 38 100 0 0 3.0 5.7 18.8 33.7 22.1 12.9 3.7 0.0 0.0 NA 06/30/16 2,395 37 100 0 0 3.1 6.0 17.0 35.0 21.9 13.1 3.9 0.0 0.0 NA 09/30/16 2,475 32 100 0 0 3.3 7.5 19.4 34.3 22.6 12.9 0.0 0.0 0.0 NA 12/31/16 2,435 35 100 0 0 1.0 2.9 66.5 13.6 9.1 6.2 0.6 0.0 0.0 NA 03/31/17 2,637 37 100 0 0 2.0 6.4 21.0 31.2 20.6 15.4 3.5 0.0 0.0 NA 06/30/17 2,053 38 100 0 0 0.6 2.2 74.8 9.8 6.4 5.0 1.2 0.0 0.0 NA MSCI World (N) 39,672,821 1,649 100 0 0 7.7 5.2 19.0 21.1 22.9 20.5 2.4 0.2 1.0 NA
Characteristics represent 100% of portfolio's market value. 4 Chatham University Intl Equity Structural Characteristics Aberdeen Global Quarter Ended 3/31/18
# %Intl Sectors Turn- Quarter $(000) Stocks Equity %Cash %Other ENR MAT CAP CON SRV FIN MIN GMN MIS Over 09/30/17 2,129 37 100 0 0 2.4 6.1 22.2 32.2 20.8 14.8 1.5 0.0 0.0 NA 12/31/17 2,238 37 100 0 0 1.2 1.8 60.1 17.1 10.9 8.2 0.7 0.0 0.0 NA 03/31/18 2,209 37 100 0 0 2.3 3.0 23.6 30.5 20.2 16.7 3.7 0.0 0.0 NA
MSCI World (N) 39,672,821 1,649 100 0 0 7.7 5.2 19.0 21.1 22.9 20.5 2.4 0.2 1.0 NA
Characteristics represent 100% of portfolio's market value. 5 Chatham University Intl Equity Investment Characteristics Aberdeen Global Quarter Ended 3/31/18
Growth Average Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Mkt Cap $(Mil) P/E P/B YLD ROE Beta Debt/Eqty 03/31/12 3.2 6.5 78,286 14.7 2.1 3.3 154.3 0.91 0.48 06/30/12 2.6 4.5 72,055 15.8 1.9 2.8 174.2 0.92 0.51 09/30/12 3.2 5.7 80,201 14.6 2.1 3.2 156.9 0.91 0.48 12/31/12 3.3 5.9 79,970 15.1 2.1 3.1 137.4 0.90 0.50 03/31/13 2.8 5.4 88,779 15.6 2.2 3.0 19.2 0.91 0.47 06/30/13 3.8 6.9 83,587 15.7 2.1 3.2 18.9 0.93 0.47 09/30/13 3.8 6.8 86,500 16.6 2.1 3.0 18.7 0.93 0.48 12/31/13 4.4 7.0 93,216 17.1 2.1 2.9 19.0 0.93 0.47 03/31/14 5.9 7.7 92,562 18.1 2.0 2.9 19.2 0.92 0.65 06/30/14 6.6 7.6 97,717 17.4 2.1 2.9 19.1 0.95 0.61 09/30/14 7.1 8.1 93,679 17.5 2.2 2.9 19.0 0.96 0.59 12/31/14 2.2 5.3 64,927 14.3 2.3 2.7 10.7 0.88 0.49 03/31/15 9.0 9.5 91,947 18.3 2.0 2.9 19.3 0.96 0.61 06/30/15 7.5 10.2 76,624 16.9 1.6 3.3 18.5 0.96 0.65 09/30/15 7.5 9.6 69,658 15.7 1.4 3.6 17.9 1.00 0.62 12/31/15 4.0 9.3 70,039 16.4 1.3 4.6 19.0 0.97 0.64 03/31/16 4.9 9.2 64,234 20.0 1.5 2.9 18.5 0.95 0.51 06/30/16 6.1 9.4 66,123 24.2 1.6 2.6 17.9 0.95 0.51 09/30/16 5.6 9.1 69,654 28.6 1.7 2.5 17.2 0.97 0.52 12/31/16 -1.6 3.7 34,317 50.5 2.0 2.1 8.2 0.91 0.55 03/31/17 3.1 9.8 65,199 40.5 1.7 2.4 15.4 0.97 0.49 06/30/17 -12.0 3.1 36,276 NM 3.8 1.7 14.9 0.95 1.32 MSCI World (N) 9.3 7.8 131,157 21.6 2.2 2.4 29.7 1.00 0.90
Characteristics represent 100% of portfolio's market value. 6 Chatham University Intl Equity Investment Characteristics Aberdeen Global Quarter Ended 3/31/18
Growth Average Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Mkt Cap $(Mil) P/E P/B YLD ROE Beta Debt/Eqty 09/30/17 3.7 9.3 70,824 38.0 1.8 2.4 15.6 0.97 0.49 12/31/17 -7.3 4.8 48,961 NM 3.0 1.9 15.9 0.98 1.08 03/31/18 5.1 8.9 66,636 23.1 1.7 2.6 16.1 1.01 0.44
MSCI World (N) 9.3 7.8 131,157 21.6 2.2 2.4 29.7 1.00 0.90
Characteristics represent 100% of portfolio's market value. 7 Chatham University Equity Sector Attribution Analysis Aberdeen Global Quarter Ended 3/31/18
Portfolio MSCI World (N) Selection Sector Mkt Val % Return Mkt Val % Return Stock Sector Total Industrials 55.02 6.10 11.67 -1.46 4.16 -0.14 4.02 Financials 8.24 2.63 18.12 -1.80 0.37 0.07 0.43 Energy 2.35 1.87 6.33 -5.19 0.17 0.16 0.33 Materials 3.79 -0.09 5.17 -4.32 0.16 0.04 0.20 Health Care 7.56 -0.20 11.77 -1.04 0.06 -0.00 0.06 Utilities 0.00 2.97 -1.50 0.00 0.01 0.01 Real Estate 1.99 -5.75 3.11 -3.60 -0.04 0.03 -0.01 Telecom Services 3.01 -11.68 2.78 -5.64 -0.18 -0.01 -0.19 Consumer Staples 9.67 -6.93 9.05 -5.17 -0.17 -0.03 -0.20 Consumer Discretionary 1.73 -4.08 12.27 1.91 -0.10 -0.32 -0.42 Information Technology 6.63 4.13 16.78 3.48 0.04 -0.47 -0.43 Quarter Total 100.00 2.67 100.00 -1.13 4.46 -0.66 3.80
Stock Selection Return Attribution = [ Portfolio Market Value Sector Percent ] x [ Portfolio Sector Return - Index Sector Return]
Sector Selection Return Attribution = [ Portfolio Sector Percent - Index Sector Percent ] x [ Index Sector Return - Index Total Return ]
Trading Effect -4.00% = [ Actual Return -1.33% ] - [ Buy Hold Return 2.67% ]
8 Chatham University Equity Summary Statistics Aberdeen Global Quarter Ended 3/31/18
10 Largest Holdings 10 Best Performers Name %Port $(000) Name %Port %Return M & T Bk Corp 3.5 77 Banco Bradesco S A 2.8 16.17 Visa Inc 3.4 76 Sysmex Corp 2.1 15.49 Novartis Ag 3.0 67 Keyence Corp 2.0 10.91 Samsung Electronics 2.9 65 Taiwan Semiconductor 2.7 9.40 Oracle Corp 2.9 63 Swire Pacific 1.1 8.97 Banco Bradesco S A 2.8 62 Tenaris S A 1.2 8.82 Eog Res Inc 2.7 61 Rolls Royce Holdings 1.6 6.71 Taiwan Semiconductor 2.7 60 Fanuc Corporation 1.6 6.70 Henkel Ag&Co. Kgaa 2.7 59 Oversea-Chinese Bank 1.2 5.45 Vodafone Group 2.5 55 Housing Development 2.0 4.66
Portfolio Characteristic Distribution (%) 10 Worst Performers Quartile Mkt. Cap P/E Yield Name %Port %Return 1st 75.6 26.2 19.6 Vodafone Group 2.5 -14.30 2nd 19.6 42.8 27.2 Daito Trust Construc 1.5 -13.89 3rd 3.4 25.5 32.7 British American Tob 2.1 -13.56 4th 1.5 5.6 20.5 Japan Tobacco Inc 1.8 -10.56 MSCI World (N) Nestle Sa 2.0 -8.17 Kasikornbank Public 1.9 -7.55 25th Percentile 27,429,536 29.9 3.4 Diageo 1.6 -7.29 50th Percentile 12,923,593 19.9 2.1 Roche Holdings Ag 2.1 -6.15 75th Percentile 7,635,200 12.6 1.1 Mtn Group Ltd 1.1 -5.50 Itc 1.5 -5.02
9 Chatham University International Equity Holdings Aberdeen Global Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Bermuda Jardine Matheson Hld IND 306 521 60.750 61.620 19 32 1.0 2.1 3.41 19 32 1.0 2.1 3.41 Brazil Banco Bradesco S A FIN 3,047 5,189 10.240 11.880 31 62 1.7 4.0 16.17 31 62 1.7 4.0 16.17 Canada Nutrien Ltd MAT 0 698 NA 47.229 0 33 0.0 2.1 NA Potash Corp Sask Inc MAT 1,025 0 20.575 49.990 21 0 1.2 0.0 -2.82 21 33 1.2 2.1 -2.82 Germany Fresenius Medical Ca HTH 276 471 105.406 102.053 29 48 1.6 3.1 -3.18 Henkel Ag&Co. Kgaa CST 197 452 132.508 131.410 26 59 1.5 3.9 -0.83 Infineon Technologie INF 0 885 27.420 26.737 0 24 0.0 1.5 NA 55 131 3.1 8.5 -2.07 Hong Kong Aia Group Limited FIN 3,585 6,105 8.526 8.460 31 52 1.7 3.4 -0.77 Mtr Corporation Ltd IND 2,344 0 5.859 5.377 14 0 0.8 0.0 -8.22 Swire Pacific RES 1,366 2,327 9.255 10.085 13 23 0.7 1.5 8.97 57 75 3.2 4.9 -0.41 India Housing Development FIN 911 1,552 26.797 27.991 24 43 1.4 2.8 4.66 Itc CST 4,934 8,403 4.124 3.917 20 33 1.1 2.1 -5.02
10 Chatham University International Equity Holdings Aberdeen Global Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return India (cont.) 45 76 2.5 5.0 0.26 Israel Check Point Software INF 270 459 103.620 99.340 28 46 1.6 3.0 -4.13 28 46 1.6 3.0 -4.13 Japan Daito Trust Construc RES 112 190 203.950 172.920 23 33 1.3 2.1 -13.89 Fanuc Corporation IND 91 139 240.213 253.503 22 35 1.2 2.3 6.70 Japan Tobacco Inc CST 792 1,349 32.233 28.829 26 39 1.4 2.5 -10.56 Keyence Corp INF 42 72 560.320 620.969 24 45 1.3 2.9 10.91 Shin-Etsu Chemical C MAT 310 450 101.642 103.479 32 47 1.8 3.0 2.51 Sysmex Corp HTH 299 508 78.739 90.644 24 46 1.3 3.0 15.49 149 244 8.3 15.9 1.75 Luxembourg Tenaris S A ENR 628 744 31.860 34.670 20 26 1.1 1.7 8.82 20 26 1.1 1.7 8.82 Mexico Fomento Econ Mexic CST 314 534 93.900 91.430 29 49 1.6 3.2 -2.63 29 49 1.6 3.2 -2.63 Singapore Oversea-Chinese Bank FIN 1,542 2,626 9.271 9.777 14 26 0.8 1.7 5.45 14 26 0.8 1.7 5.45
11 Chatham University International Equity Holdings Aberdeen Global Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return South Africa Mtn Group Ltd TEL 1,453 2,474 11.034 10.045 16 25 0.9 1.6 -5.50 16 25 0.9 1.6 -5.50 South Korea Samsung Electronics INF 14 34 1952.268 1913.876 27 65 1.5 4.2 -0.92 27 65 1.5 4.2 -0.92 Sweden Atlas Copco Ab IND 465 791 43.261 43.129 20 34 1.1 2.2 -0.30 20 34 1.1 2.2 -0.30 Switzerland Nestle Sa CST 322 548 85.993 78.968 28 43 1.5 2.8 -8.17 Novartis Ag HTH 485 827 84.556 80.681 41 67 2.3 4.3 -1.09 Roche Holdings Ag HTH 164 203 252.950 228.801 41 46 2.3 3.0 -6.15 110 156 6.2 10.2 -4.77 Taiwan Taiwan Semiconductor INF 5,150 7,150 7.712 8.437 40 60 2.2 3.9 9.40 40 60 2.2 3.9 9.40 Thailand Kasikornbank Public FIN 3,541 6,030 7.334 6.780 26 41 1.5 2.7 -7.55 26 41 1.5 2.7 -7.55 United Kingdom Bhp Billiton Plc MAT 738 1,257 20.596 19.690 15 25 0.9 1.6 -1.69 British American Tob CST 427 818 67.881 57.950 29 47 1.6 3.1 -13.56
12 Chatham University International Equity Holdings Aberdeen Global Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return United Kingdom (cont.) Diageo CST 401 1,048 36.862 33.836 15 35 0.8 2.3 -7.29 Experian Plc IND 993 1,691 22.131 21.568 22 36 1.2 2.4 -1.96 Rolls Royce Holdings IND 77,439 2,806 11.458 12.227 887 34 49.6 2.2 6.71 Royal Dutch Shell ENR 647 1,102 33.934 31.942 22 35 1.2 2.3 -4.47 Standard Chartered P FIN 1,970 3,355 10.553 9.998 21 34 1.2 2.2 -4.29 Vodafone Group TEL 11,897 20,261 3.179 2.725 38 55 2.1 3.6 -14.30 Whitbread CDI 573 975 54.110 51.904 31 51 1.7 3.3 -4.08 1,080 353 60.4 23.0 4.20
13 Chatham University Custom Benchmark Specification Aberdeen Global Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description MSCI All Country World Index 3/12 3/18 100.00 MSCI All Country World Index
14 Chatham University Growth of One Dollar Epoch Global Quarter Ended 3/31/18
1.90
1.80
1.70
1.60
1.50
1.40 Value 1.30
1.20
1.10
1.00
0.90 3/12 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 3/31/12 Value Total 4.22 7.76 1.57 MSCI All Country World Index 8.71 10.02 1.77
1 Chatham University Value Added Analysis Epoch Global Quarter Ended 3/31/18
8.0%
6.0% 5.33 4.59 4.0%
1.92 2.0% 1.59 1.22 0.44 0.38 0.0%
-0.8 -0.9 -2.0% -1.5 -1.21 -1.5 -1.85 -2.17 -2.33 -2.52 -2.96 -3.03
-4.0% -4.17 -6.0% -5.59
-8.0%
-10.0%
-12.0%
-14.0%
-16.0% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. MSCI All Country World Index Cumulative Value Added 2 Yr Rolling Avg (Annualized)
2 Chatham University Country Allocations Epoch Global Quarter Ended 3/31/18 Netherlands Norway Portugal Scotland Spain Sweden Switzerland United Kingdom Total Europe Bermuda Brazil Canada Cayman Islands Mexico Netherland Antilles Panama United States Total Americas Australia Hong Kong Japan New Zealand Papua-New Guinea China Philippines Singapore Taiwan Total Pacific Basin Israel Liberia Macau South Africa Zambia Total Other Austria Belgium Bulgaria Denmark Finland France Germany Ireland Isle of Man Italy Luxembourg 3/12 0.0 2.3 0.0 0.0 0.0 6.1 5.8 0.0 0.0 1.0 0.0 0.0 0.7 0.0 0.0 0.6 0.0 5.0 20.3 41.9 0.0 0.5 3.9 0.0 0.0 0.0 0.0 49.7 54.1 0.5 1.2 0.0 0.0 0.0 0.0 0.7 0.0 1.5 3.9 0.0 0.0 0.0 0.0 0.0 0.0 6/12 0.0 1.9 0.0 0.0 0.0 6.5 5.6 0.0 0.0 1.0 0.0 0.0 0.7 0.0 0.0 0.0 0.0 5.1 20.9 41.8 0.0 0.5 3.9 0.0 0.0 0.0 0.0 50.6 55.0 0.5 1.2 0.0 0.0 0.0 0.0 0.7 0.0 0.7 3.2 0.0 0.0 0.0 0.0 0.0 0.0 9/12 0.0 1.7 0.0 0.0 0.0 6.8 5.2 0.0 0.0 1.0 0.0 0.0 0.8 0.0 0.0 0.0 0.0 5.9 21.5 43.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53.7 53.7 1.4 0.5 0.0 0.0 0.0 0.0 0.5 0.0 0.8 3.3 0.0 0.0 0.0 0.0 0.0 0.0 12/12 0.0 0.8 0.0 0.0 0.0 6.6 6.5 0.0 0.0 1.1 0.0 0.0 0.9 0.0 0.0 0.0 0.0 6.7 21.1 43.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52.3 52.3 2.4 0.0 0.0 0.0 0.0 0.0 0.6 0.0 0.9 3.9 0.0 0.0 0.0 0.0 0.0 0.0 3/13 0.0 0.9 0.0 0.0 0.0 6.7 6.3 0.0 0.0 1.7 0.0 0.0 0.8 0.0 0.0 0.0 0.7 6.3 22.6 46.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50.9 50.9 2.4 0.0 0.0 0.0 0.0 0.0 0.7 0.0 0.0 3.1 0.0 0.0 0.0 0.0 0.0 0.0 6/13 0.0 0.7 0.0 0.0 0.0 7.3 5.6 0.0 0.0 1.5 0.0 0.0 1.4 0.0 0.0 0.0 0.6 5.5 19.9 42.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53.8 53.8 3.1 0.0 0.0 0.0 0.0 0.0 0.6 0.0 0.0 3.7 0.0 0.0 0.0 0.0 0.0 0.0 9/13 0.0 0.6 0.0 0.0 0.0 8.4 6.0 0.0 0.0 1.7 0.0 0.0 1.6 0.0 0.0 0.0 0.6 5.0 21.7 45.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49.8 49.8 3.9 0.0 0.0 0.0 0.0 0.0 0.6 0.0 0.0 4.4 0.0 0.0 0.0 0.0 0.0 0.0 12/13 0.0 0.6 0.0 0.0 0.0 8.9 5.6 0.0 0.0 1.8 0.0 0.0 3.2 0.0 0.0 0.0 0.6 4.4 21.5 46.5 0.0 0.0 0.8 0.0 0.0 0.0 0.0 48.5 49.3 3.6 0.0 0.0 0.0 0.0 0.0 0.6 0.0 0.0 4.2 0.0 0.0 0.0 0.0 0.0 0.0 3/14 0.0 0.6 0.0 0.0 0.0 9.2 5.5 0.0 0.0 1.9 0.0 0.0 3.4 0.0 0.0 0.0 1.2 5.2 20.3 47.2 0.0 0.0 0.9 0.0 0.0 0.0 0.0 47.6 48.5 3.7 0.0 0.0 0.0 0.0 0.0 0.6 0.0 0.0 4.3 0.0 0.0 0.0 0.0 0.0 0.0 6/14 0.0 0.7 0.0 0.0 0.0 9.2 6.4 0.0 0.0 1.8 0.0 0.7 3.7 0.0 0.0 0.0 1.1 5.1 22.1 50.7 0.0 0.0 0.9 0.0 0.0 0.0 0.0 47.7 48.6 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.0 0.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 9/14 0.0 0.0 0.0 0.0 0.0 8.5 5.2 0.0 0.0 1.7 0.0 0.6 3.4 0.0 0.0 0.0 1.1 5.0 20.2 45.7 0.0 0.0 0.8 0.0 0.0 0.0 0.0 48.5 49.4 4.2 0.0 0.0 0.0 0.0 0.0 0.7 0.0 0.0 4.9 0.0 0.0 0.0 0.0 0.0 0.0 12/14 0.0 0.0 0.0 0.0 0.0 7.4 5.4 0.0 0.0 1.5 0.0 0.7 2.3 0.0 0.0 0.0 0.8 4.2 20.1 42.5 0.0 0.0 1.4 0.0 0.0 0.0 0.0 51.1 52.6 4.4 0.0 0.0 0.0 0.0 0.0 0.6 0.0 0.0 5.0 0.0 0.0 0.0 0.0 0.0 0.0 3/15 0.0 0.0 0.0 0.0 0.0 7.5 8.0 0.0 0.0 1.4 0.0 0.7 2.4 0.0 0.0 0.8 1.3 4.2 18.2 44.4 0.0 0.0 4.9 0.0 0.0 0.0 0.0 45.8 50.7 4.5 0.0 0.0 0.0 0.0 0.0 0.3 0.0 0.0 4.8 0.0 0.0 0.0 0.0 0.0 0.0 6/15 0.0 0.0 0.0 0.0 0.0 7.9 6.4 0.0 0.0 1.5 0.0 0.4 3.2 0.0 0.0 0.9 1.1 3.4 14.9 39.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55.2 55.2 4.9 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 5.1 0.0 0.0 0.0 0.0 0.0 0.0 9/15 0.0 0.0 0.0 0.0 0.0 7.5 5.9 0.0 0.0 1.8 0.0 0.0 3.1 0.0 0.0 0.8 1.1 3.0 13.3 36.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57.4 57.4 4.8 0.0 0.0 0.0 0.0 0.0 0.0 1.3 0.0 6.2 0.0 0.0 0.0 0.0 0.0 0.0 12/15 0.0 0.0 0.0 0.0 0.0 6.7 6.9 0.0 0.0 1.9 0.0 0.0 3.2 0.0 0.0 0.8 1.1 3.1 13.3 37.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57.5 57.5 4.1 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.0 5.5 0.0 0.0 0.0 0.0 0.0 0.0 3/16 0.0 0.0 0.0 0.0 0.0 6.5 7.0 0.0 0.0 2.0 0.0 0.0 3.3 0.0 0.0 0.8 1.0 3.1 11.7 35.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59.3 59.3 3.8 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.0 5.4 0.0 0.0 0.0 0.0 0.0 0.0 6/16 0.0 0.0 0.0 0.0 0.0 4.7 7.3 0.0 0.0 2.0 0.0 0.0 3.0 0.0 0.0 0.7 0.9 2.9 13.1 34.5 0.0 0.0 4.6 0.0 0.0 0.0 0.0 55.9 60.5 3.6 0.0 0.0 0.0 0.0 0.0 0.0 1.4 0.0 5.0 0.0 0.0 0.0 0.0 0.0 0.0 9/16 0.0 0.0 0.0 0.0 0.0 5.7 8.5 0.0 0.0 2.4 0.0 0.0 2.2 0.0 0.0 0.8 1.0 4.1 13.7 38.3 0.0 0.0 3.9 0.0 0.0 0.0 0.0 52.8 56.7 3.6 0.0 0.0 0.0 0.0 0.0 0.0 1.4 0.0 5.0 0.0 0.0 0.0 0.0 0.0 0.0 12/16 0.0 0.0 0.0 0.0 0.0 6.4 9.6 0.0 0.0 2.2 0.0 0.0 2.3 0.0 0.0 0.7 0.8 4.0 4.4 30.5 0.0 0.0 4.7 0.0 0.0 0.0 0.0 59.7 64.5 3.8 0.0 0.0 0.0 0.0 0.0 0.0 1.3 0.0 5.1 0.0 0.0 0.0 0.0 0.0 0.0 3/17 0.0 0.0 0.0 0.0 0.0 6.5 10.0 0.0 0.0 2.8 0.0 0.0 2.1 0.0 0.0 0.8 0.8 4.9 7.9 35.7 0.0 0.0 5.0 0.0 0.0 0.0 0.0 53.6 58.6 3.5 0.0 0.0 0.0 0.0 0.0 0.0 1.4 0.9 5.7 0.0 0.0 0.0 0.0 0.0 0.0 6/17 0.0 0.0 0.0 0.0 0.0 6.1 8.5 0.0 0.0 2.6 0.0 0.0 1.9 0.0 0.0 1.6 0.7 4.6 16.3 42.4 0.0 0.0 4.5 0.0 0.0 0.0 0.0 48.1 52.7 2.9 0.0 0.0 0.0 0.0 0.0 0.0 1.2 0.8 4.9 0.0 0.0 0.0 0.0 0.0 0.0 9/17 0.0 0.0 0.0 0.0 0.0 23.5 17.3 0.0 0.0 0.3 0.0 0.0 1.5 0.0 0.0 0.9 0.6 3.3 9.7 57.2 0.0 0.0 3.1 0.0 0.0 0.0 0.0 37.2 40.2 1.7 0.0 0.0 0.0 0.0 0.0 0.0 0.8 0.0 2.5 0.0 0.0 0.0 0.0 0.0 0.0 12/17 0.0 0.0 0.0 0.0 0.0 7.1 9.0 0.0 0.0 3.4 0.0 0.0 2.2 0.0 0.0 1.8 0.8 4.6 12.5 41.2 0.0 0.0 4.8 0.0 0.0 0.0 0.0 50.4 55.2 2.4 0.0 0.0 0.0 0.0 0.0 0.0 1.2 0.0 3.6 0.0 0.0 0.0 0.0 0.0 0.0 3/18 0.0 0.0 0.0 0.0 0.0 7.0 9.0 0.0 0.0 3.5 0.0 0.0 2.2 0.0 0.0 1.8 0.8 4.1 13.3 41.7 0.0 0.0 4.4 0.0 0.0 0.0 0.0 50.4 54.8 2.3 0.0 0.0 0.0 0.0 0.0 0.0 1.2 0.0 3.5 0.0 0.0 0.0 0.0 0.0 0.0
*Idx 0.1 0.4 0.0 0.7 0.4 4.1 3.6 0.2 +0 0.9 0.0 1.4 0.3 0.1 +0 1.2 1.0 2.9 6.4 23.6 0.0 0.0 3.4 0.0 0.0 0.2 0.0 59.5 63.1 2.4 1.3 9.1 0.1 0.0 0.0 0.0 0.5 0.0 13.5 0.2 0.1 0.1 0.0 +0 0.3 *Idx - MSCI World (N)
3 Chatham University Intl Equity Structural Characteristics Epoch Global Quarter Ended 3/31/18
# %Intl Sectors Turn- Quarter $(000) Stocks Equity %Cash %Other ENR MAT CAP CON SRV FIN MIN GMN MIS Over 03/31/12 2,006 102 0 0 6.5 2.1 3.0 13.8 15.1 2.4 0.0 0.0 57.0 NA 06/30/12 1,997 99 0 0 6.6 1.9 2.9 13.4 14.9 3.0 0.0 0.0 57.2 NA 09/30/12 2,081 98 100 0 0 6.6 0.7 3.1 13.9 12.4 3.4 0.0 0.0 59.8 NA 12/31/12 2,103 90 100 0 0 7.7 0.8 2.7 14.8 13.1 4.0 0.0 0.0 56.8 NA 03/31/13 2,273 85 100 0 0 9.1 0.9 3.3 14.9 11.4 4.8 0.0 0.0 55.6 NA 06/30/13 2,303 92 100 0 0 10.1 1.3 3.3 12.2 10.3 4.8 0.0 0.0 58.1 NA 09/30/13 2,454 91 100 0 0 12.1 1.8 3.7 11.0 12.1 4.8 0.0 0.0 54.5 NA 12/31/13 2,616 91 100 0 0 12.9 2.2 3.6 10.7 11.6 4.8 0.0 0.0 54.1 NA 03/31/14 2,698 89 100 0 0 13.5 2.2 3.7 13.1 9.3 5.3 0.0 0.0 52.9 NA 06/30/14 2,851 85 100 0 0 14.6 1.6 3.8 13.7 9.2 4.7 0.0 0.0 52.4 NA 09/30/14 2,762 89 100 0 0 13.7 2.1 3.9 12.3 9.6 5.5 0.0 0.0 52.9 NA 12/31/14 2,787 90 100 0 0 12.8 1.5 3.9 11.1 9.7 5.2 0.0 0.0 55.8 NA 03/31/15 2,773 95 100 0 0 10.8 2.6 4.6 10.2 13.7 7.8 0.0 0.0 50.3 NA 06/30/15 2,722 42 100 0 0 26.7 3.6 10.7 22.4 18.3 18.4 0.0 0.0 0.0 NA 09/30/15 2,593 40 100 0 0 24.5 3.0 11.2 24.0 16.3 21.0 0.0 0.0 0.0 NA 12/31/15 2,648 37 100 0 0 22.8 1.8 9.2 27.6 15.3 23.3 0.0 0.0 0.0 NA 03/31/16 2,799 35 100 0 0 22.8 1.6 9.9 29.3 15.2 21.2 0.0 0.0 0.0 NA 06/30/16 2,098 41 100 0 0 20.3 3.5 7.6 26.2 24.8 16.0 1.7 0.0 0.0 NA 09/30/16 2,095 42 100 0 0 18.9 2.5 7.4 30.0 24.1 15.7 1.6 0.0 0.0 NA 12/31/16 2,076 36 100 0 0 19.4 3.3 6.0 21.2 26.1 22.1 1.9 0.0 0.0 NA 03/31/17 2,197 39 100 0 0 21.1 2.9 6.7 25.2 24.6 19.4 0.0 0.0 0.0 NA 06/30/17 2,012 47 100 0 0 20.6 2.2 7.2 32.0 21.9 16.2 0.0 0.0 0.0 NA MSCI World (N) 39,672,821 1,649 100 0 0 7.7 5.2 19.0 21.1 22.9 20.5 2.4 0.2 1.0 NA
Characteristics represent 100% of portfolio's market value. 4 Chatham University Intl Equity Structural Characteristics Epoch Global Quarter Ended 3/31/18
# %Intl Sectors Turn- Quarter $(000) Stocks Equity %Cash %Other ENR MAT CAP CON SRV FIN MIN GMN MIS Over 09/30/17 2,082 43 100 0 0 20.7 0.7 7.0 20.0 10.0 41.4 0.1 0.0 0.0 NA 12/31/17 2,151 44 100 0 0 20.1 2.5 5.8 29.6 19.8 20.5 1.7 0.0 0.0 NA 03/31/18 2,043 46 100 0 0 20.5 2.4 6.7 28.4 18.1 22.4 1.5 0.0 0.0 NA
MSCI World (N) 39,672,821 1,649 100 0 0 7.7 5.2 19.0 21.1 22.9 20.5 2.4 0.2 1.0 NA
Characteristics represent 100% of portfolio's market value. 5 Chatham University Intl Equity Investment Characteristics Epoch Global Quarter Ended 3/31/18
Growth Average Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Mkt Cap $(Mil) P/E P/B YLD ROE Beta Debt/Eqty 03/31/12 3.1 6.5 58,036 13.9 2.2 4.5 82.7 0.74 0.92 06/30/12 2.1 6.1 57,120 13.7 2.2 4.6 83.4 0.76 1.04 09/30/12 1.7 5.9 60,844 14.7 2.2 4.5 85.3 0.76 1.03 12/31/12 1.2 5.9 58,211 15.6 2.2 4.7 82.0 0.70 1.07 03/31/13 1.7 4.8 59,512 15.8 2.3 4.4 154.7 0.69 1.07 06/30/13 2.4 5.8 61,787 17.3 2.2 4.4 152.8 0.74 1.14 09/30/13 2.2 5.6 65,138 18.0 2.3 4.4 166.2 0.71 1.16 12/31/13 2.0 6.3 67,933 18.3 2.4 4.3 138.7 0.74 1.15 03/31/14 5.0 6.8 70,540 17.4 2.4 4.2 21.4 0.74 1.14 06/30/14 5.5 6.9 74,084 17.7 2.4 4.1 21.4 0.76 1.13 09/30/14 4.8 6.3 71,436 17.6 2.4 4.2 22.4 0.77 1.16 12/31/14 4.2 7.2 69,107 17.4 2.6 4.1 25.4 0.75 1.54 03/31/15 4.0 7.2 68,206 17.1 2.5 4.3 24.6 0.75 1.55 06/30/15 3.9 5.1 53,653 15.1 2.2 4.7 20.4 0.82 1.48 09/30/15 3.1 5.1 50,936 14.8 2.0 5.0 20.7 0.85 1.45 12/31/15 2.5 4.8 55,923 15.7 2.2 4.6 25.3 0.83 1.48 03/31/16 2.6 4.7 56,967 14.5 2.1 4.7 25.5 0.84 1.48 06/30/16 1.7 4.6 57,387 16.2 2.1 4.3 24.7 0.80 1.46 09/30/16 2.3 4.4 61,587 18.0 2.2 4.3 24.4 0.80 1.44 12/31/16 2.0 4.5 61,907 19.0 2.0 4.3 15.1 0.83 1.14 03/31/17 0.5 4.5 72,416 20.3 2.0 4.2 14.4 0.84 0.95 06/30/17 1.7 4.6 69,341 19.3 2.2 4.2 18.8 0.87 1.09 MSCI World (N) 9.3 7.8 131,157 21.6 2.2 2.4 29.7 1.00 0.90
Characteristics represent 100% of portfolio's market value. 6 Chatham University Intl Equity Investment Characteristics Epoch Global Quarter Ended 3/31/18
Growth Average Valuation Risk Quarter 5 Yrs EPS 5 Yrs Div Mkt Cap $(Mil) P/E P/B YLD ROE Beta Debt/Eqty 09/30/17 3.9 5.6 75,686 15.4 1.6 4.4 14.5 0.88 0.77 12/31/17 3.1 4.2 72,287 18.0 2.1 4.3 18.9 0.87 1.07 03/31/18 5.1 4.1 65,567 14.0 1.9 4.7 19.6 0.87 1.05
MSCI World (N) 9.3 7.8 131,157 21.6 2.2 2.4 29.7 1.00 0.90
Characteristics represent 100% of portfolio's market value. 7 Chatham University Equity Sector Attribution Analysis Epoch Global Quarter Ended 3/31/18
Portfolio MSCI World (N) Selection Sector Mkt Val % Return Mkt Val % Return Stock Sector Total Energy 10.28 1.02 6.33 -5.19 0.64 -0.16 0.48 Health Care 10.60 1.03 11.77 -1.04 0.22 -0.00 0.22 Real Estate 0.00 3.11 -3.60 0.00 0.08 0.08 Materials 2.48 -7.93 5.17 -4.32 -0.09 0.09 -0.00 Utilities 11.49 -1.73 2.97 -1.50 -0.03 -0.03 -0.06 Industrials 8.31 -2.92 11.67 -1.46 -0.12 0.01 -0.11 Financials 20.52 -2.66 18.12 -1.80 -0.18 -0.02 -0.19 Consumer Discretionary 4.59 1.02 12.27 1.91 -0.04 -0.23 -0.27 Information Technology 0.00 16.78 3.48 -0.00 -0.77 -0.77 Consumer Staples 14.40 -9.66 9.05 -5.17 -0.65 -0.22 -0.86 Telecom Services 17.32 -10.05 2.78 -5.64 -0.76 -0.66 -1.42 Quarter Total 100.00 -4.05 100.00 -1.13 -1.01 -1.91 -2.92
Stock Selection Return Attribution = [ Portfolio Market Value Sector Percent ] x [ Portfolio Sector Return - Index Sector Return]
Sector Selection Return Attribution = [ Portfolio Sector Percent - Index Sector Percent ] x [ Index Sector Return - Index Total Return ]
Trading Effect -0.77% = [ Actual Return -4.83% ] - [ Buy Hold Return -4.05% ]
8 Chatham University Equity Summary Statistics Epoch Global Quarter Ended 3/31/18
10 Largest Holdings 10 Best Performers Name %Port $(000) Name %Port %Return Total Sa 2.0 41 Intel Corp 0.9 13.58 Vodafone Group 1.9 39 Cisco Sys Inc 1.4 12.82 Glaxosmithkline 1.9 39 Glaxosmithkline 1.9 11.24 Royal Dutch Shell Pl 1.9 39 Cme Group Inc 0.6 11.20 Muenchener Rueckvers 1.9 39 Statoil Asa 1.2 10.89 Bce Inc 1.8 38 Taiwan Semiconductor 0.7 10.37 Verizon Communicatio 1.8 37 Gallagher Arthur J & 0.6 9.26 Altria Group Inc 1.8 37 Microsoft Corp 0.7 7.19 Astrazeneca Plc 1.8 36 Muenchener Rueckvers 1.9 7.01 At&T Inc 1.8 36 Blackrock Inc 0.7 6.01
Portfolio Characteristic Distribution (%) 10 Worst Performers Quartile Mkt. Cap P/E Yield Name %Port %Return 1st 73.6 12.4 76.5 Imperial Brands Plc 1.6 -18.73 2nd 15.5 29.7 21.5 Magellan Midstream 0.7 -16.64 3rd 6.2 34.2 2.0 Dominion Res Inc Va 1.2 -15.85 4th 4.8 23.7 0.0 Vodafone Group 1.9 -14.30 MSCI World (N) British American Tob 1.3 -13.56 Welltower Inc 1.3 -13.28 25th Percentile 27,429,536 29.9 3.4 Wells Pargo (New) 0.5 -13.10 50th Percentile 12,923,593 19.9 2.1 Procter & Gamble Co 0.7 -13.05 75th Percentile 7,635,200 12.6 1.1 Pembina Pipeline Cor 0.7 -13.03 British Amern Tob Pl 0.6 -12.81
9 Chatham University International Equity Holdings Epoch Global Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Australia Commonwealth Bank Of FIN 268 265 62.838 55.465 17 15 1.6 1.5 -8.32 Sonic Healthcare HTH 738 731 17.880 17.550 13 13 1.2 1.3 -0.41 Westpac Banking Corp FIN 886 879 24.520 21.953 22 19 2.0 1.9 -10.47 52 47 4.9 4.6 -7.21 Canada Bce Inc TEL 889 874 48.190 43.002 43 38 4.0 3.7 -9.57 Pembina Pipeline Cor ENR 495 481 36.322 31.181 18 15 1.7 1.5 -13.03 Rogers Communication TEL 485 477 51.119 44.631 25 21 2.3 2.1 -11.98 Royal Bk Cda Montrea FIN 207 207 81.927 77.192 17 16 1.6 1.6 -4.97 Telus Corp TEL 6 6 38.006 35.090 0 0 0.0 0.0 -6.67 103 90 9.6 8.9 -9.99 France Axa FIN 1,271 1,262 29.702 26.565 38 34 3.5 3.3 -10.56 Michelin(Cie Gle Des CDI 144 119 143.556 147.459 21 18 1.9 1.7 2.72 Sanofi HTH 200 198 86.277 80.346 17 16 1.6 1.6 -6.87 Scor Se FIN 414 411 40.281 40.905 17 17 1.6 1.7 1.55 Total Sa ENR 721 715 55.291 56.733 40 41 3.7 4.0 3.99 Vinci IND 192 190 102.248 98.265 20 19 1.8 1.8 -3.90 152 143 14.2 14.1 -2.32 Germany Allianz Se FIN 132 131 229.953 225.555 30 30 2.8 2.9 -1.91 Basf Se MAT 240 238 110.161 101.426 26 24 2.5 2.4 -7.93
10 Chatham University International Equity Holdings Epoch Global Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Germany (cont.) Daimler Ag CDI 333 284 85.017 84.823 28 24 2.7 2.4 -0.23 Deutsche Post Ag IND 557 553 47.732 43.684 27 24 2.5 2.4 -8.48 Deutsche Telekom Ag TEL 1,581 1,732 17.766 16.296 28 28 2.6 2.8 -8.28 Muenchener Rueckvers FIN 169 168 217.045 232.257 37 39 3.4 3.9 7.01 Siemens Ag IND 116 115 139.473 127.314 16 15 1.5 1.4 -5.82 193 184 18.1 18.1 -2.95 Italy Assicurazioni Genera FIN 686 681 18.252 19.216 13 13 1.2 1.3 5.28 Snam Spa ENR 5,072 5,034 4.899 4.591 25 23 2.3 2.3 -4.28 Terna Spa UTL 6,103 6,057 5.817 5.841 35 35 3.3 3.5 0.41 73 72 6.8 7.1 -0.35 Norway Orkla Asa CST 1,935 1,919 10.643 10.717 21 21 1.9 2.0 0.70 Statoil Asa ENR 1,261 1,053 21.420 23.519 27 25 2.5 2.4 10.89 48 45 4.5 4.5 6.48 Singapore Singapore Exchange FIN 2,176 2,157 5.567 5.620 12 12 1.1 1.2 1.57 Singapore Telecommun TEL 4,934 4,893 2.679 2.585 13 13 1.2 1.2 -3.49 25 25 2.4 2.4 -1.07 Spain Gas Natural Sdg Sa UTL 688 683 23.115 23.847 16 16 1.5 1.6 3.16 Red Electrica Corp UTL 1,009 1,001 22.467 20.575 23 21 2.1 2.0 -7.14
11 Chatham University International Equity Holdings Epoch Global Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return Spain (cont.) 39 37 3.6 3.6 -2.89 Sweden Svenska Handelsbanke FIN 1,266 1,256 13.704 12.442 17 16 1.6 1.5 -2.38 17 16 1.6 1.5 -2.38 Switzerland Nestle Sa CST 261 259 85.993 78.968 22 20 2.1 2.0 -8.17 Novartis Ag HTH 277 275 84.556 80.681 23 22 2.2 2.2 -1.09 Roche Holdings Ag HTH 91 91 252.950 228.801 23 21 2.2 2.1 -6.15 Swisscom Ag TEL 55 40 532.068 494.570 29 20 2.7 2.0 -7.05 98 83 9.2 8.2 -5.67 United Kingdom Bae Systems IND 3,397 3,371 7.751 8.156 26 27 2.5 2.7 5.22 British American Tob CST 462 458 67.881 57.950 31 27 2.9 2.6 -13.56 Diageo CST 356 353 36.862 33.836 13 12 1.2 1.2 -7.29 Glaxosmithkline HTH 2,027 2,012 17.890 19.555 36 39 3.4 3.9 11.24 Imperial Brands Plc CST 999 983 42.828 34.032 43 33 4.0 3.3 -18.73 Lloyds Banking Group FIN 0 19,500 0.921 0.907 0 18 0.0 1.7 NA Micro Focus Internat INF 0 492 34.130 13.843 0 7 0.0 0.7 NA National Grid UTL 2,675 2,655 11.838 11.253 32 30 3.0 2.9 -4.94 Sse Plc UTL 946 939 17.856 17.900 17 17 1.6 1.7 2.43 Unilever Plc CST 419 404 55.808 55.488 23 22 2.2 2.2 0.26 Vodafone Group TEL 14,608 14,497 3.179 2.725 46 39 4.4 3.9 -14.30
12 Chatham University International Equity Holdings Epoch Global Quarter Ended 3/31/18
Shares Price Mkt Value $(000) % Portfolio Buy & Hold Name Sector 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18 Return United Kingdom (cont.) 268 272 25.1 26.8 -5.78
13 Chatham University Custom Benchmark Specification Epoch Global Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description MSCI All Country World Index 3/12 3/18 100.00 MSCI All Country World Index
14 Chatham University Fund Return Table Quarter Ended 3/31/18
Inception Inception Manager 1 Yr 3 Yrs 5 Yrs 7 Yrs 10 Yrs Date Return Davidson Kempner Instit Prtnrs, LP 5.59 5.08 5.39 12/31/12 5.76 HFRI Event-Driven (Total) Index 5.69 4.28 4.84 12/31/12 5.33 Value Added -0.10 0.79 0.56 0.44
Magnitude International 7.17 3.43 4.73 3/31/13 4.73 HFRI Fund-of-Funds Composite 6.63 2.21 3.59 3/31/13 3.59 Value Added 0.55 1.22 1.14 1.14
Hedge Fund Composite 6.35 3.30 4.65 4.24 3.38 6/30/98 6.54 HFRI Fund-of-Funds Composite 6.63 2.21 3.59 2.72 1.65 6/30/98 4.04 Value Added -0.28 1.09 1.06 1.51 1.73 2.50
1 Chatham University Growth of One Dollar Hedge Fund Composite Quarter Ended 3/31/18
4.00
3.50
3.00
2.50
Value 2.00
1.50
1.00
0.50 3/99 3/00 3/01 3/02 3/03 3/04 3/05 3/06 3/07 3/08 3/09 3/10 3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 6/30/98 Value Total 3.30 6.54 3.49 HFRI Fund-of-Funds Composite 2.21 4.04 2.19
2 Chatham University Growth of One Dollar Davidson Kempner Instit Prtnrs, LP Quarter Ended 3/31/18
1.40
1.30
1.20 Value 1.10
1.00
0.90 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 12/31/12 Value Total 5.08 5.76 1.34 HFRI Event-Driven (Total) Index 4.13 5.24 1.31
1 Chatham University Value Added Analysis Davidson Kempner Instit Prtnrs, LP Quarter Ended 3/31/18
8.0%
7.0%
6.0%
5.12 5.0%
4.0%
3.0%
2.0% 1.75 1.35 1.22 1.0% 0.80 0.70 0.62 0.42 0.26 0.10 0.0% -0.06 -0.19 -1.0% -0.7 -0.74 -0.8 -0.76 -0.83
-2.0% -1.71 -2.01 -2.25 -3.0%
-4.0% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. HFRI Event-Driven (Total) Index Cumulative Value Added 2 Yr Rolling Avg (Annualized)
2 Chatham University Custom Benchmark Specification Davidson Kempner Instit Prtnrs, LP Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description HFRI Event-Driven (Total) Index 3/13 3/18 100.00 HFRI Event-Driven (Total) Index
3 Chatham University Growth of One Dollar Magnitude International Quarter Ended 3/31/18
1.30
1.20
1.10 Value
1.00
0.90 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 3/31/13 Value Total 3.43 4.73 1.26 HFRI Fund-of-Funds Composite 2.21 3.59 1.19
1 Chatham University Value Added Analysis Magnitude International Quarter Ended 3/31/18
10.0%
9.0%
8.0%
7.0%
6.0%
5.0% 4.49 4.0%
3.0%
2.11 2.0% 1.61 1.69 1.30 1.0% 0.99 1.07 0.52 0.26 0.38 0.0% -0.01 -0.33 -0.26 -1.0% -0.61 -0.7 -0.58 -1.22 -2.0% -1.54 -1.85 -1.92 -3.0% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. HFRI Fund-of-Funds Composite Cumulative Value Added 2 Yr Rolling Avg (Annualized)
2 Chatham University Custom Benchmark Specification Magnitude International Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description HFRI Fund-of-Funds Composite 3/13 3/18 100.00 HFRI Fund-of-Funds Composite
3 MCM Active Commodities Fund Growth of One Dollar MCM Active Commodities Fund Quarter Ended 3/31/18
1.20
1.10
1.00 Value 0.90
0.80
0.70 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Return $ Legend 2 Years & 3 Quarters Inception 6/30/15 Value Total 2.43 2.43 1.07 Other 2.48 2.48 1.07 Bloomberg Commodity Index -5.08 -5.08 0.87
1 MCM Active Commodities Fund Value Added Analysis MCM Active Commodities Fund Quarter Ended 3/31/18
35.0%
30.0%
25.0%
20.0%
15.0% 14.18 12.31
10.0%
5.0% 4.99
2.05 2.57 0.84 0.0% 0.08 -0.56 -2.37 -5.0% -5.59
-10.0% -9.19
-15.0% 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. Bloomberg Commodity Index Cumulative Value Added 2 Yr Rolling Avg (Annualized)
2 MCM Active Commodities Fund Custom Benchmark Specification MCM Active Commodities Fund Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description Bloomberg Commodity Index 6/15 3/18 100.00 Bloomberg Commodity Index
3 Chatham University Fund Returns - Internal Rates of Return Private Equity Composite Quarter Ended 3/31/18
Quarter End Commitment Inception IRR Manager Market Value Value Date Since Inception CF Private Equity Capital V 134,023 1,000,000 3/31/02 11.12 CF Private Equity Capital VI 532,325 2,000,000 7/29/05 6.86 CF Private Equity Capital VII 2,247,442 1,000,000 4/02/07 14.26 CF Venture Capital IV 26,263 750,000 11/23/98 1.48 CF Venture Capital V 123,511 1,320,000 3/31/00 -0.15 CF Venture Capital VI 122,515 525,000 1/24/02 8.51 CF Venture Capital VII 483,701 1,000,000 9/01/05 8.28 CF Venture Capital VIII 1,942,676 2,000,000 8/20/07 11.47 CF Venture Partners IX 1,601,368 1,000,000 4/01/10 23.00 CF International Partners V 430,930 2,000,000 9/12/05 5.01 CF International Partners VI 575,982 1,500,000 4/02/07 8.66 CF International Partners VII 1,200,354 1,500,000 3/01/10 9.30 CF Natural Resources Partners VII 461,033 1,000,000 1/05/07 3.13 CF Natural Resources Ptrs VIII 634,273 1,000,000 11/13/08 2.43 CF Venture Partners X 319,633 250,000 9/15/12 16.95 CF Emerging Markets 2013 412,053 500,000 2/01/14 13.07 CF Global Distressed II 173,091 1,000,000 2/01/14 7.86 Portfolio Advisors PE VI 762,788 600,000 2/01/14 19.08 Portfolio Advisors Pan Asia Select 287,293 400,000 2/01/14 14.38 HarbourVest Global Annual Fund 1,108,374 1,500,000 12/19/14 19.84 Oaktree Private Investment Fund IV 295,395 1,000,000 11/03/15 24.06 Private Equity Composite 13,875,022 22,845,000 1/31/91 16.47 Chatham Custom PE Benchmark 1/31/91 11.79
1 Chatham University Fund Return Table Private Equity Composite Quarter Ended 3/31/18
Since Inception Inception Manager 1 Quarter 2 Quarters 3 Quarters 1 Year 3 Years 5 Years 3/31/08 Date Return CF Private Equity Capital V 0.00 0.17 5.74 8.18 12.70 12.86 10.00 12/31/01 8.79
CF Private Equity Capital VI 5.66 6.42 11.27 11.89 8.10 9.45 7.64 6/30/05 1.38
CF Private Equity Capital VII 0.00 3.85 10.19 13.57 15.36 19.53 8.73 3/31/07 -24.18
CF Venture Capital IV 2.81 3.29 9.03 7.80 -0.31 -3.59 3.11 9/30/98 3.46
CF Venture Capital V 1.84 2.78 -2.53 -3.67 -7.86 -3.67 -2.84 12/31/99 -3.08
CF Venture Capital VI 0.30 3.79 2.97 6.30 1.27 6.00 7.96 12/31/01 1.36
CF Venture Capital VII 2.39 3.74 5.71 6.86 4.41 8.21 8.45 6/30/05 -0.97
CF Venture Capital VIII 2.50 7.60 9.40 8.35 3.43 13.58 7.99 9/30/07 3.59
CF Venture Partners IX 7.76 13.19 15.06 22.95 16.42 29.35 6/30/10 15.77
CF International Partners V 0.31 1.52 4.52 -6.24 4.76 4.06 4.64 6/30/05 2.07
CF International Partners VI 0.00 1.24 9.01 5.58 14.87 13.13 5.55 3/31/07 -2.63
CF International Partners VII 0.00 2.96 8.06 20.71 10.19 15.23 12/31/09 -4.97
2 Chatham University Fund Return Table Private Equity Composite Quarter Ended 3/31/18
Since Inception Inception Manager 1 Quarter 2 Quarters 3 Quarters 1 Year 3 Years 5 Years 3/31/08 Date Return CF Natural Resources Partners VII 0.00 -0.05 -2.78 -2.21 -4.37 -2.66 5.37 12/31/06 -9.48
CF Natural Resources Ptrs VIII 0.00 -0.19 -3.38 -12.28 1.36 1.41 6/30/08 2.91
CF Venture Partners X 6.45 11.95 14.80 18.69 14.62 26.39 9/30/12 4.95
CF Emerging Markets 2013 -1.89 6.32 12.11 20.17 14.39 3/31/14 11.25
CF Global Distressed II 0.00 0.16 3.28 4.02 5.84 3/31/14 6.73
Portfolio Advisors PE VI -1.01 6.29 14.74 19.76 23.24 3/31/14 20.10
Portfolio Advisors Pan Asia Select 13.51 22.83 28.61 32.24 17.25 3/31/14 14.85
HarbourVest Global Annual Fund 0.61 6.14 10.96 20.25 20.90 12/31/14 19.15
Oaktree Private Investment Fund IV 2.18 27.05 27.05 24.93 12/31/15 21.82
Private Equity Composite 1.90 5.98 9.56 11.69 10.14 12.43 8.19 12/31/90 12.56 Chatham Custom PE Benchmark 2.59 5.20 6.81 8.76 5.87 7.84 5.60 12/31/90 11.75
3 Chatham University Portfolio Internal Rate of Return CF International Partners V Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/05 2,000,000 0 25,000 0 0 0 0 25,000 0.00 NA 12/05 25,000 26,000 0 -2,891 0 0 48,109 -8.88 NA 03/06 48,109 75,000 0 -4,712 0 0 118,397 -14.68 NA 06/06 118,397 50,000 0 -2,224 0 0 166,173 -12.68 NA 09/06 166,173 60,000 0 -6,195 0 0 219,978 -14.55 -13.92 12/06 219,978 181,125 41,125 -8,882 0 0 351,096 -16.11 -12.63 03/07 351,096 100,000 0 -71,122 0 0 379,974 -44.81 -31.88 06/07 379,974 80,000 0 22,086 0 0 482,060 -29.35 -17.58 09/07 482,060 180,000 0 -54,475 0 0 607,585 -40.30 -22.25 12/07 607,585 140,000 0 207,123 0 0 954,708 23.65 9.66 03/08 954,708 160,000 0 -38,284 0 0 1,076,424 10.14 3.86 06/08 1,076,424 170,000 0 85,918 0 0 1,332,342 28.43 9.35 09/08 1,332,342 80,000 0 14,354 0 0 1,426,696 27.73 8.35 12/08 1,426,696 80,000 0 -200,798 0 0 1,305,898 -9.84 -3.08 03/09 1,305,898 40,000 0 -252,564 0 0 1,093,334 -42.89 -14.60 06/09 1,093,334 0 0 -88,410 0 0 1,004,924 -50.12 -16.73 09/09 1,004,924 40,000 0 106,203 0 0 1,151,127 -36.25 -10.52 12/09 1,151,127 40,000 0 127,683 0 0 1,318,810 -20.29 -5.13 03/10 1,318,810 40,000 0 66,187 0 0 1,424,997 -11.90 -2.75 06/10 1,424,997 0 0 -32,122 0 0 1,392,875 -14.95 -3.32 09/10 1,392,875 60,000 0 -48,508 0 0 1,404,367 -19.43 -4.19 12/10 1,404,367 40,000 0 167,978 0 0 1,612,345 -1.46 -0.28 03/11 1,612,345 40,000 0 160,518 0 0 1,812,863 15.56 2.64 06/11 1,812,863 0 16,344 95,781 0 0 1,892,300 25.26 3.96 09/11 1,892,300 0 38,598 155,230 0 0 2,008,932 41.11 5.86
4 Chatham University Portfolio Internal Rate of Return CF International Partners V Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 12/11 2,008,932 30,000 143,756 -192,188 0 0 1,702,988 20.25 2.97 03/12 1,702,988 30,000 8,565 -33,588 0 0 1,690,835 16.56 2.37 06/12 1,690,835 0 77,767 283,205 0 0 1,896,273 44.55 5.57 09/12 1,896,273 0 93,793 6,332 0 0 1,808,812 44.59 5.37 12/12 1,808,812 0 53,586 22,419 0 0 1,777,645 46.37 5.35 03/13 1,777,645 0 42,361 59,151 0 0 1,794,435 51.90 5.69 06/13 1,794,435 20,000 57,783 -36,864 0 0 1,719,788 47.91 5.14 09/13 1,719,788 114,979 112,331 13,472 0 0 1,735,908 48.92 5.07 12/13 1,735,908 0 103,237 -31,586 0 0 1,601,085 45.63 4.63 03/14 1,601,085 0 82,463 20,447 0 0 1,539,069 47.54 4.65 06/14 1,539,069 0 172,772 175,292 0 0 1,541,589 64.80 5.84 09/14 1,541,589 10,000 161,242 47,668 0 0 1,438,015 69.79 6.02 12/14 1,438,015 5,000 124,403 -82,660 0 0 1,235,952 62.03 5.32 03/15 1,235,952 15,000 107,369 -12,028 0 0 1,131,555 61.38 5.14 06/15 1,131,555 0 94,350 -31,383 0 0 1,005,822 58.92 4.84 09/15 1,005,822 62,001 45,536 -16,951 0 0 1,005,336 57.91 4.65 12/15 1,005,336 5,000 86,517 -45,004 0 0 878,815 54.04 4.28 03/16 878,815 0 43,040 8,411 0 0 844,186 55.59 4.28 06/16 844,186 0 89,699 66,930 0 0 821,417 63.27 4.64 09/16 821,417 10,000 85,090 32,060 0 0 778,387 67.54 4.78 12/16 778,387 0 98,710 75,090 0 0 754,767 76.58 5.16 03/17 754,767 0 72,756 54,523 0 0 736,534 83.67 5.40 06/17 736,534 0 91,651 -68,244 0 0 576,639 77.65 4.99 09/17 576,639 0 74,353 15,702 0 0 517,988 80.84 5.04 12/17 517,988 0 32,029 5,896 0 0 491,855 83.04 5.03
5 Chatham University Portfolio Internal Rate of Return CF International Partners V Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/18 491,855 0 62,319 1,394 0 0 430,930 84.80 5.01 Total 2,000,000 2,009,105 2,313,545 735,370 0 0 430,930 84.80 5.01
6 Chatham University Portfolio Internal Rate of Return CF International Partners VI Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 06/07 1,500,000 0 34,500 0 0 0 0 34,500 0.00 NA 09/07 34,500 48,000 0 -50,668 0 0 31,832 -97.84 NA 12/07 31,832 26,250 277 46,027 0 0 103,832 -7.61 NA 03/08 103,832 11,250 0 974 0 0 116,056 -5.02 NA 06/08 116,056 63,750 0 -33,729 0 0 146,077 -40.04 -33.66 09/08 146,077 101,250 0 26,139 0 0 273,466 -10.07 -6.84 12/08 273,466 0 0 -30,605 0 0 242,861 -29.20 -17.90 03/09 242,861 0 0 -41,229 0 0 201,632 -48.57 -28.32 06/09 201,632 30,000 0 -11,439 0 0 220,193 -49.96 -26.52 09/09 220,193 45,000 0 16,805 0 0 281,998 -38.46 -17.66 12/09 281,998 37,500 0 30,824 0 0 350,322 -21.96 -8.62 03/10 350,322 30,000 0 24,244 0 0 404,566 -9.97 -3.45 06/10 404,566 52,500 0 -7,782 0 0 449,284 -12.38 -3.99 09/10 449,284 60,000 0 -19,336 0 0 489,948 -18.44 -5.66 12/10 489,948 60,000 0 43,689 0 0 593,637 -2.15 -0.58 03/11 593,637 37,500 0 49,140 0 0 680,277 14.48 3.44 06/11 680,277 60,000 0 10,843 0 0 751,120 17.03 3.77 09/11 751,120 60,000 0 32,933 0 0 844,053 26.02 5.28 12/11 844,053 0 0 -77,781 0 0 766,272 2.46 0.51 03/12 766,272 54,640 0 -15,583 0 0 805,329 -1.67 -0.34 06/12 805,329 37,500 0 74,912 0 0 917,741 17.09 3.05 09/12 917,741 88,843 0 -64,341 0 0 942,243 0.93 0.17 12/12 942,243 52,500 2,534 62,114 0 0 1,054,323 14.83 2.43 03/13 1,054,323 16,973 0 77,584 0 0 1,148,880 31.50 4.67 06/13 1,148,880 22,500 40,573 44,516 0 0 1,175,323 40.01 5.53
7 Chatham University Portfolio Internal Rate of Return CF International Partners VI Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/13 1,175,323 0 0 -24,188 0 0 1,151,135 33.28 4.52 12/13 1,151,135 30,000 42,973 44,196 0 0 1,182,358 41.30 5.25 03/14 1,182,358 33,750 51,709 55,163 0 0 1,219,562 51.41 6.11 06/14 1,219,562 26,250 96,466 62,780 0 0 1,212,126 62.94 6.97 09/14 1,212,126 7,500 70,320 62,058 0 0 1,211,364 74.34 7.69 12/14 1,211,364 15,000 84,343 -52,592 0 0 1,089,429 62.53 6.46 03/15 1,089,429 18,750 77,867 42,701 0 0 1,073,013 70.24 6.88 06/15 1,073,013 3,750 67,033 -27,704 0 0 982,026 64.24 6.20 09/15 982,026 3,750 100,658 96,046 0 0 981,164 82.79 7.35 12/15 981,164 11,250 157,740 12,836 0 0 847,510 85.38 7.31 03/16 847,510 15,000 42,185 43,542 0 0 863,867 94.37 7.66 06/16 863,867 0 28,086 23,699 0 0 859,480 99.58 7.76 09/16 859,480 7,500 91,508 11,388 0 0 786,860 102.51 7.71 12/16 786,860 0 88,690 84,008 0 0 782,178 120.60 8.45 03/17 782,178 11,250 117,214 56,326 0 0 732,540 133.60 8.85 06/17 732,540 7,500 75,311 -21,344 0 0 643,385 130.93 8.51 09/17 643,385 3,750 50,760 47,039 0 0 643,414 142.98 8.82 12/17 643,414 0 54,256 7,399 0 0 596,557 146.95 8.77 03/18 596,557 0 20,575 0 0 0 575,982 149.44 8.66 Total 1,500,000 1,225,456 1,361,078 711,604 0 0 575,982 149.44 8.66
8 Chatham University Portfolio Internal Rate of Return CF International Partners VII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/10 1,500,000 0 9,000 0 0 0 0 9,000 0.00 NA 06/10 9,000 15,000 0 -5,461 0 0 18,539 -36.13 NA 09/10 18,539 0 0 -3,031 0 0 15,508 -43.61 NA 12/10 15,508 0 0 -1,363 0 0 14,145 -46.89 NA 03/11 14,145 30,000 0 -1,573 0 0 42,572 -43.54 -41.04 06/11 42,572 22,500 0 -2,827 0 0 62,245 -41.75 -33.36 09/11 62,245 44,997 0 -4,329 0 0 102,913 -40.90 -28.26 12/11 102,913 30,000 0 -8,610 0 0 124,303 -44.65 -27.55 03/12 124,303 60,000 0 -67,780 0 0 116,523 -89.14 -65.53 06/12 116,523 60,000 0 -2,751 0 0 173,772 -79.76 -49.56 09/12 173,772 45,000 0 4,795 0 0 223,567 -68.07 -35.69 12/12 223,567 30,000 0 53,566 0 0 307,133 -28.85 -11.30 03/13 307,133 82,500 0 -46,646 0 0 342,987 -50.09 -20.17 06/13 342,987 37,500 0 68,058 0 0 448,545 -10.38 -3.23 09/13 448,545 0 0 -6,372 0 0 442,173 -12.45 -3.64 12/13 442,173 0 0 11,162 0 0 453,335 -6.25 -1.67 03/14 453,335 75,000 0 19,915 0 0 548,250 3.01 0.73 06/14 548,250 42,500 20,630 41,505 0 0 611,625 20.49 4.39 09/14 611,625 0 0 34,224 0 0 645,849 33.42 6.49 12/14 645,849 56,250 26,250 344 0 0 676,193 31.38 5.80 03/15 676,193 30,000 13,440 50,701 0 0 743,454 49.22 8.19 06/15 743,454 33,750 0 -27,061 0 0 750,143 36.45 6.00 09/15 750,143 37,500 37,500 102,985 0 0 853,128 71.76 10.17 12/15 853,128 67,500 40,007 19,285 0 0 899,906 75.47 10.11 03/16 899,906 37,500 15,000 10,599 0 0 933,005 75.65 9.69
9 Chatham University Portfolio Internal Rate of Return CF International Partners VII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 06/16 933,005 22,500 22,500 18,636 0 0 951,641 78.69 9.59 09/16 951,641 15,000 15,000 -26,912 0 0 924,729 67.10 8.10 12/16 924,729 40,903 0 0 0 0 965,632 64.74 7.57 03/17 965,632 101,250 62,979 -15,328 0 0 988,575 58.06 6.67 06/17 988,575 22,500 83,412 112,229 0 0 1,039,892 88.52 9.03 09/17 1,039,892 36,589 0 53,308 0 0 1,129,789 101.46 9.67 12/17 1,129,789 0 0 33,429 0 0 1,163,218 108.18 9.80 03/18 1,163,218 37,136 0 0 0 0 1,200,354 105.25 9.30 Total 1,500,000 1,122,375 336,718 414,697 0 0 1,200,354 105.25 9.30
10 Chatham University Portfolio Internal Rate of Return CF Private Equity Capital V Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/02 1,000,000 5,000 0 0 0 5,000 0.00 NA 06/02 5,000 5,000 0 -315 0 0 9,685 -5.15 NA 09/02 9,685 10,000 0 -1,495 0 0 18,190 -16.18 NA 12/02 18,190 5,000 0 -2,230 0 0 20,960 -26.32 NA 03/03 20,960 10,000 0 -1,593 0 0 29,367 -29.21 -29.21 06/03 29,367 0 0 -1,612 0 0 27,755 -31.72 -26.32 09/03 27,755 10,000 0 -1,659 0 0 36,096 -33.14 -23.52 12/03 36,096 17,500 0 -1,928 0 0 51,668 -33.12 -20.50 03/04 51,668 10,000 0 9,249 0 0 70,917 -4.43 -2.24 06/04 70,917 10,000 2,178 -35 0 0 78,704 -4.02 -1.81 09/04 78,704 50,000 0 -3,102 0 0 125,602 -9.86 -4.06 12/04 125,602 30,000 0 -2,036 0 0 153,566 -11.69 -4.41 03/05 153,566 15,000 9,041 21,556 0 0 181,081 23.82 7.37 06/05 181,081 30,000 28,130 16,016 0 0 198,967 45.53 12.23 09/05 198,967 65,000 5,817 9,127 0 0 267,277 53.33 12.97 12/05 267,277 75,000 10,712 11,371 0 0 342,936 61.00 13.52 03/06 342,936 60,000 12,096 20,929 0 0 411,769 76.50 15.25 06/06 411,769 60,000 5,823 2,376 0 0 468,322 68.48 13.05 09/06 468,322 60,000 20,751 9,045 0 0 516,616 68.17 12.23 12/06 516,616 35,000 29,402 30,644 0 0 552,858 86.05 13.94 03/07 552,858 62,500 31,488 40,491 0 0 624,361 109.96 15.98 06/07 624,361 60,000 44,167 39,390 0 0 679,584 130.22 17.21 09/07 679,584 65,000 42,896 32,247 0 0 733,935 142.78 17.49 12/07 733,935 30,000 13,252 21,957 0 0 772,640 146.19 16.94 03/08 772,640 15,000 12,130 86,829 0 0 862,339 194.68 19.72
11 Chatham University Portfolio Internal Rate of Return CF Private Equity Capital V Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 06/08 862,339 30,000 10,897 -49,157 0 0 832,285 150.07 15.78 09/08 832,285 15,000 5,357 25,748 0 0 867,676 156.06 15.55 12/08 867,676 0 0 -42,012 0 0 825,664 124.46 12.71 03/09 825,664 10,000 0 -124,410 0 0 711,254 59.21 6.86 06/09 711,254 0 0 -18,007 0 0 693,247 49.19 5.67 09/09 693,247 10,000 0 14,857 0 0 718,104 53.35 5.86 12/09 718,104 0 0 35,583 0 0 753,687 65.64 6.72 03/10 753,687 0 0 76,673 0 0 830,360 94.45 8.66 06/10 830,360 0 17,308 21,238 0 0 834,290 100.10 8.77 09/10 834,290 0 28,084 14,696 0 0 820,902 103.18 8.69 12/10 820,902 0 65,153 40,876 0 0 796,625 116.85 9.24 03/11 796,625 10,000 42,224 66,178 0 0 830,579 141.24 10.27 06/11 830,579 0 65,442 35,290 0 0 800,427 153.54 10.58 09/11 800,427 7,876 26,774 23,196 0 0 804,725 161.29 10.63 12/11 804,725 0 63,713 -18,399 0 0 722,613 152.77 9.97 03/12 722,613 5,000 39,142 52,783 0 0 741,254 173.03 10.56 06/12 741,254 0 19,940 58,030 0 0 779,344 195.77 11.15 09/12 779,344 0 42,993 4,253 0 0 740,604 197.21 10.92 12/12 740,604 0 61,375 21,827 0 0 701,056 206.16 10.96 03/13 701,056 0 71,571 21,870 0 0 651,355 215.93 11.02 06/13 651,355 0 23,620 -51,082 0 0 576,653 196.96 10.15 09/13 576,653 0 36,114 30,691 0 0 571,230 211.05 10.36 12/13 571,230 0 29,164 15,242 0 0 557,308 219.36 10.38 03/14 557,308 0 10,222 49,952 0 0 597,038 242.10 10.79 06/14 597,038 0 59,605 -4,041 0 0 533,392 243.25 10.59
12 Chatham University Portfolio Internal Rate of Return CF Private Equity Capital V Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/14 533,392 0 75,575 -3,076 0 0 454,741 245.44 10.42 12/14 454,741 0 56,809 40,785 0 0 438,717 266.70 10.72 03/15 438,717 0 36,608 34,014 0 0 436,123 285.93 10.94 06/15 436,123 0 40,590 9,038 0 0 404,571 295.25 10.92 09/15 404,571 0 33,044 41,045 0 0 412,572 319.07 11.19 12/15 412,572 0 72,274 8,182 0 0 348,480 329.47 11.17 03/16 348,480 0 23,029 -4,308 0 0 321,143 334.98 11.06 06/16 321,143 10,000 50,524 13,265 0 0 293,884 348.91 11.10 09/16 293,884 0 23,411 4,532 0 0 275,005 359.61 11.08 12/16 275,005 0 39,210 23,411 0 0 259,206 379.54 11.20 03/17 259,206 0 27,839 -1,720 0 0 229,647 388.35 11.14 06/17 229,647 2,000 57,549 4,299 0 0 178,397 400.86 11.14 09/17 178,397 0 24,128 9,008 0 0 163,277 416.50 11.17 12/17 163,277 0 25,415 253 0 0 138,115 428.55 11.14 03/18 138,115 5,000 9,092 0 0 0 134,023 440.70 11.12 Total 1,000,000 899,876 1,581,678 815,825 0 0 134,023 440.70 11.12
13 Chatham University Portfolio Internal Rate of Return CF Private Equity Capital VI Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/05 2,000,000 0 10,100 0 0 0 0 10,100 0.00 NA 12/05 10,100 20,000 10 -3,060 0 0 27,030 -20.88 NA 03/06 27,030 20,000 0 -3,255 0 0 43,775 -26.69 NA 06/06 43,775 65,000 0 -7,095 0 0 101,680 -29.26 NA 09/06 101,680 40,000 0 -4,954 0 0 136,726 -26.64 -23.22 12/06 136,726 180,000 0 3,815 0 0 320,541 -14.07 -10.09 03/07 320,541 100,000 0 -106,295 0 0 314,246 -67.18 -48.65 06/07 314,246 130,000 0 -30,412 0 0 413,834 -65.35 -42.41 09/07 413,834 120,000 0 134,250 0 0 668,084 -7.09 -3.33 12/07 668,084 160,000 0 -1,541 0 0 826,543 -6.21 -2.61 03/08 826,543 100,000 18,043 -35,437 0 0 873,063 -14.93 -5.87 06/08 873,063 60,000 0 -14,098 0 0 918,965 -16.24 -5.88 09/08 918,965 140,000 0 53,132 0 0 1,112,097 -3.26 -1.04 12/08 1,112,097 60,000 0 -122,506 0 0 1,049,591 -25.47 -8.22 03/09 1,049,591 0 0 -194,344 0 0 855,247 -51.87 -18.05 06/09 855,247 20,000 0 -32,027 0 0 843,220 -53.01 -17.51 09/09 843,220 80,000 0 1,982 0 0 925,202 -50.21 -15.38 12/09 925,202 40,000 0 29,318 0 0 994,520 -44.55 -12.47 03/10 994,520 30,000 0 62,468 0 0 1,086,988 -35.41 -8.93 06/10 1,086,988 90,000 0 47,577 0 0 1,224,565 -28.37 -6.55 09/10 1,224,565 60,000 0 20,085 0 0 1,304,650 -24.86 -5.37 12/10 1,304,650 0 0 59,572 0 0 1,364,222 -17.10 -3.40 03/11 1,364,222 30,000 18,649 113,551 0 0 1,489,124 -3.47 -0.62 06/11 1,489,124 30,000 43,907 71,652 0 0 1,546,869 4.93 0.82 09/11 1,546,869 49,989 0 82,228 0 0 1,679,086 14.24 2.18
14 Chatham University Portfolio Internal Rate of Return CF Private Equity Capital VI Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 12/11 1,679,086 50,000 61,305 -49,880 0 0 1,617,901 8.23 1.24 03/12 1,617,901 0 27,612 117,141 0 0 1,707,430 20.99 2.89 06/12 1,707,430 0 55,353 140,839 0 0 1,792,916 36.32 4.57 09/12 1,792,916 0 25,698 -15,533 0 0 1,751,685 33.88 4.15 12/12 1,751,685 25,000 192,051 196,949 0 0 1,781,583 55.36 6.11 03/13 1,781,583 0 113,558 10,236 0 0 1,678,261 55.96 5.96 06/13 1,678,261 10,000 58,524 -81,340 0 0 1,548,397 46.50 4.94 09/13 1,548,397 0 56,029 14,800 0 0 1,507,168 47.87 4.90 12/13 1,507,168 10,000 95,079 63,643 0 0 1,485,732 54.68 5.31 03/14 1,485,732 10,000 110,580 67,577 0 0 1,452,729 62.09 5.72 06/14 1,452,729 10,000 108,251 60,765 0 0 1,415,243 68.93 6.05 09/14 1,415,243 25,000 128,540 54,024 0 0 1,365,727 75.21 6.30 12/14 1,365,727 0 122,016 51,132 0 0 1,294,843 81.43 6.52 03/15 1,294,843 5,000 126,285 57,373 0 0 1,230,931 88.59 6.78 06/15 1,230,931 0 105,647 16,018 0 0 1,141,302 91.28 6.75 09/15 1,141,302 5,000 56,999 29,747 0 0 1,119,050 95.75 6.82 12/15 1,119,050 5,000 159,690 -266 0 0 964,094 96.92 6.71 03/16 964,094 5,000 40,789 28,902 0 0 957,207 101.72 6.79 06/16 957,207 10,000 84,116 10,518 0 0 893,609 104.49 6.76 09/16 893,609 15,000 117,458 13,641 0 0 804,792 107.83 6.76 12/16 804,792 0 45,007 102,458 0 0 862,243 122.21 7.23 03/17 862,243 0 17,204 -79,718 0 0 765,321 114.35 6.75 06/17 765,321 0 37,479 4,062 0 0 731,904 116.86 6.70 09/17 731,904 2,000 108,775 28,496 0 0 653,625 122.66 6.79 12/17 653,625 2,000 145,405 3,784 0 0 514,004 125.60 6.76
15 Chatham University Portfolio Internal Rate of Return CF Private Equity Capital VI Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/18 514,004 0 10,731 29,052 0 0 532,325 131.97 6.86 Total 2,000,000 1,824,089 2,290,790 999,026 0 0 532,325 131.97 6.86
16 Chatham University Portfolio Internal Rate of Return CF Private Equity Capital VII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 06/07 1,000,000 0 9,000 0 0 0 0 9,000 0.00 NA 09/07 9,000 37,250 0 -40,755 0 0 5,495 NA 12/07 5,495 18,750 139 29,978 0 0 54,084 -31.88 NA 03/08 54,084 31,250 0 -23,136 0 0 62,198 -64.91 NA 06/08 62,198 87,500 0 -49,502 0 0 100,196 -91.65 -86.35 09/08 100,196 68,750 0 56,942 0 0 225,888 -29.12 -20.52 12/08 225,888 0 0 -12,661 0 0 213,227 -33.07 -20.50 03/09 213,227 25,000 0 -33,293 0 0 204,934 -49.74 -29.14 06/09 204,934 50,000 0 -2,696 0 0 252,238 -45.52 -23.69 09/09 252,238 68,750 0 -6,558 0 0 314,430 -43.18 -20.25 12/09 314,430 75,000 0 -2,020 0 0 387,410 -39.14 -16.52 03/10 387,410 50,000 0 30,241 0 0 467,651 -23.20 -8.43 06/10 467,651 50,000 0 2,735 0 0 520,386 -19.93 -6.62 09/10 520,386 112,500 0 7,057 0 0 639,943 -15.49 -4.70 12/10 639,943 150,000 0 7,104 0 0 797,047 -11.67 -3.25 03/11 797,047 50,000 0 59,671 0 0 906,718 6.88 1.68 06/11 906,718 50,000 0 -2,457 0 0 954,261 5.57 1.28 09/11 954,261 150,000 0 47,910 0 0 1,152,171 17.29 3.61 12/11 1,152,171 50,000 0 -14,878 0 0 1,187,293 12.26 2.47 03/12 1,187,293 50,000 0 4,464 0 0 1,241,757 12.34 2.36 06/12 1,241,757 20,758 0 91,201 0 0 1,353,716 30.66 5.23 09/12 1,353,716 84,640 0 -70,581 0 0 1,367,775 14.72 2.53 12/12 1,367,775 143,750 195,207 162,547 0 0 1,478,865 44.78 6.64 03/13 1,478,865 77,879 0 -57,551 0 0 1,499,193 31.81 4.71 06/13 1,499,193 50,000 37,209 119,631 0 0 1,631,615 51.67 6.89
17 Chatham University Portfolio Internal Rate of Return CF Private Equity Capital VII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/13 1,631,615 56,250 56,250 61,132 0 0 1,692,747 60.22 7.52 12/13 1,692,747 56,250 29,194 56,588 0 0 1,776,391 67.59 7.95 03/14 1,776,391 822,250 297,838 160,599 0 0 2,461,402 90.70 9.66 06/14 2,461,402 61,250 117,099 297,968 0 0 2,703,521 137.02 12.64 09/14 2,703,521 96,250 109,394 112,602 0 0 2,802,979 149.55 12.97 12/14 2,802,979 78,750 233,965 114,150 0 0 2,761,914 162.25 13.24 03/15 2,761,914 86,135 99,038 146,686 0 0 2,895,697 180.58 13.76 06/15 2,895,697 52,500 203,688 88,870 0 0 2,833,379 189.18 13.74 09/15 2,833,379 0 0 191,249 0 0 3,024,628 214.74 14.44 12/15 3,024,628 0 164,324 24,935 0 0 2,885,239 213.04 13.92 03/16 2,885,239 8,750 37,263 110,064 0 0 2,966,790 225.74 14.02 06/16 2,966,790 17,500 188,305 32,468 0 0 2,828,453 226.70 13.65 09/16 2,828,453 52,500 190,478 108,550 0 0 2,799,025 240.25 13.75 12/16 2,799,025 0 173,064 137,924 0 0 2,763,885 258.84 13.99 03/17 2,763,885 26,250 166,970 156,455 0 0 2,779,620 281.12 14.31 06/17 2,779,620 0 240,597 79,403 0 0 2,618,426 292.21 14.26 09/17 2,618,426 8,750 185,250 153,128 0 0 2,595,054 315.85 14.53 12/17 2,595,054 26,250 344,469 90,611 0 0 2,367,446 331.21 14.55 03/18 2,367,446 3,500 123,504 0 0 0 2,247,442 333.50 14.26 Total 1,000,000 3,013,912 3,193,245 2,426,775 0 0 2,247,442 333.50 14.26
18 Chatham University Portfolio Internal Rate of Return CF Venture Capital Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/91 500,000 0 50,000 0 0 0 0 50,000 0.00 NA 06/91 50,000 0 359 -1,025 0 0 48,616 -2.05 NA 09/91 48,616 0 0 469 0 0 49,085 -1.12 NA 12/91 49,085 50,000 0 616 0 0 99,701 0.11 NA 03/92 99,701 0 740 1,208 0 0 100,169 1.98 1.70 06/92 100,169 0 0 3,330 0 0 103,499 6.58 4.61 09/92 103,499 25,000 0 -2,220 0 0 126,279 3.12 1.86 12/92 126,279 50,000 0 4,007 0 0 180,286 7.39 3.79 03/93 180,286 25,000 4,113 -308 0 0 200,865 6.26 2.84 06/93 200,865 0 0 -1,024 0 0 199,841 4.71 1.93 09/93 199,841 25,000 0 4,751 0 0 229,592 8.48 3.10 12/93 229,592 50,000 0 8,079 0 0 287,671 14.21 4.66 03/94 287,671 25,000 0 7,121 0 0 319,792 18.32 5.46 06/94 319,792 0 0 17,617 0 0 337,409 29.33 7.83 09/94 337,409 25,000 0 2,461 0 0 364,870 28.83 7.15 12/94 364,870 25,000 7,004 20,678 0 0 403,544 39.81 8.93 03/95 403,544 25,000 0 26,733 0 0 455,277 53.63 10.86 06/95 455,277 25,000 0 25,665 0 0 505,942 65.46 12.09 09/95 505,942 25,000 0 34,919 0 0 565,861 81.73 13.66 12/95 565,861 0 18,547 47,392 0 0 594,706 103.92 15.59 03/96 594,706 25,000 10,723 97,986 0 0 706,969 153.90 19.76 06/96 706,969 0 0 72,769 0 0 779,738 188.48 21.60 09/96 779,738 25,000 110,975 86,687 0 0 780,450 229.10 23.39 12/96 780,450 25,000 111,938 36,756 0 0 730,268 243.56 23.18 03/97 730,268 0 33,186 10,334 0 0 707,416 246.05 22.30
19 Chatham University Portfolio Internal Rate of Return CF Venture Capital Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 06/97 707,416 0 72,020 10,943 0 0 646,339 249.94 21.56 09/97 646,339 0 98,267 37,779 0 0 585,851 270.41 21.70 12/97 585,851 0 123,458 77,536 0 0 539,929 315.56 22.85 03/98 539,929 0 82,682 2,156 0 0 459,403 322.70 22.28 06/98 459,403 0 25,816 29,433 0 0 463,020 347.72 22.40 09/98 463,020 0 27,973 25,916 0 0 460,963 372.10 22.43 12/98 460,963 0 24,975 43,249 0 0 479,237 407.93 22.78 03/99 479,237 0 282,807 122,333 0 0 318,763 492.07 24.33 06/99 318,763 0 56,846 76,363 0 0 338,280 560.76 25.15 09/99 338,280 0 42,970 48,439 0 0 343,749 617.11 25.52 12/99 343,749 0 58,589 88,665 0 0 373,825 702.91 26.30 03/00 373,825 0 37,197 270,801 0 0 607,429 912.49 28.72 06/00 607,429 0 37,671 -49,739 0 0 520,019 919.25 27.95 09/00 520,019 0 94,472 -11,325 0 0 414,222 954.51 27.58 12/00 414,222 0 103,005 89,130 0 0 400,347 1,064.42 28.07 03/01 400,347 0 20,017 -105,471 0 0 274,859 1,046.23 27.10 06/01 274,859 0 30,749 -58,384 0 0 185,726 1,062.87 26.55 09/01 185,726 0 12,736 7,453 0 0 180,443 1,131.11 26.52 12/01 180,443 0 26,516 -60,956 0 0 92,971 1,152.27 26.04 03/02 92,971 0 11,503 -3,929 0 0 77,539 1,218.57 25.97 06/02 77,539 0 7,360 -6,296 0 0 63,883 1,288.14 25.91 09/02 63,883 0 0 668 0 0 64,551 1,368.59 25.89 12/02 64,551 0 4,294 -1,877 0 0 58,380 1,451.63 25.86 03/03 58,380 0 5,348 611 0 0 53,643 1,539.81 25.84 06/03 53,643 0 5,987 -1,709 0 0 45,947 1,632.36 25.82
20 Chatham University Portfolio Internal Rate of Return CF Venture Capital Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/03 45,947 0 3,614 4,549 0 0 46,882 1,737.20 25.82 12/03 46,882 0 4,087 -872 0 0 41,923 1,843.50 25.81 03/04 41,923 0 0 610 0 0 42,533 1,956.30 25.80 06/04 42,533 0 0 1,218 0 0 43,751 2,076.22 25.80 09/04 43,751 0 0 -703 0 0 43,048 2,202.70 25.78 12/04 43,048 0 0 282 0 0 43,330 2,337.58 25.78 03/05 43,330 0 13,682 2,174 0 0 31,822 2,479.20 25.77 06/05 31,822 0 0 -384 0 0 31,438 2,628.72 25.77 09/05 31,438 0 4,611 1,650 0 0 28,477 2,790.85 25.77 12/05 28,477 0 0 1,317 0 0 29,794 2,962.43 25.77 03/06 29,794 0 0 34 0 0 29,828 3,138.76 25.76 06/06 29,828 0 0 3,093 0 0 32,921 3,330.65 25.76 09/06 32,921 0 0 -63 0 0 32,858 3,532.54 25.76 12/06 32,858 0 10,895 355 0 0 22,318 3,746.90 25.76 03/07 22,318 0 3,467 4,666 0 0 23,517 3,974.31 25.76 06/07 23,517 0 0 -2,891 0 0 20,626 4,209.13 25.75 09/07 20,626 0 0 293 0 0 20,919 4,464.29 25.75 12/07 20,919 0 4,162 299 0 0 17,056 4,734.61 25.75 03/08 17,056 0 0 3,000 0 0 20,056 5,021.20 25.75 06/08 20,056 0 0 -1,442 0 0 18,614 5,319.18 25.75 09/08 18,614 0 3,637 -3,026 0 0 11,951 5,636.37 25.74 12/08 11,951 0 0 11 0 0 11,962 5,976.48 25.74 03/09 11,962 0 0 -2,157 0 0 9,805 6,326.02 25.74 06/09 9,805 0 0 975 0 0 10,780 6,704.15 25.74 09/09 10,780 0 0 1,427 0 0 12,207 7,109.55 25.74
21 Chatham University Portfolio Internal Rate of Return CF Venture Capital Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 12/09 12,207 0 0 0 0 0 12,207 7,537.09 25.74 03/10 12,207 0 0 -830 0 0 11,377 7,978.80 25.74 06/10 11,377 0 0 1,212 0 0 12,589 8,454.27 25.74 09/10 12,589 0 0 0 0 0 12,589 8,961.63 25.74 12/10 12,589 0 0 -137 0 0 12,452 9,498.93 25.74 03/11 12,452 0 0 -426 0 0 12,026 10,055.01 25.74 06/11 12,026 0 0 -23 0 0 12,003 10,650.69 25.74 09/11 12,003 0 2,250 -759 0 0 8,994 11,287.45 25.73 12/11 8,994 0 7,671 -1,230 0 0 93 11,961.58 25.73 03/12 93 0 0 -93 0 0 0 12,670.09 25.73 06/12 0 0 0 0 0 25.73 09/12 0 0 0 0 25.73 12/12 0 0 0 0 25.73 03/13 0 0 0 0 25.73 06/13 0 0 0 0 25.73 09/13 0 0 0 0 25.73 12/13 0 0 0 0 25.73 03/14 0 0 0 0 25.73 06/14 0 0 0 0 25.73 09/14 0 0 0 0 25.73 12/14 0 0 0 0 25.73 03/15 0 0 0 0 25.73 06/15 0 0 0 0 25.73 09/15 0 0 0 0 25.73 12/15 0 0 0 0 25.73
22 Chatham University Portfolio Internal Rate of Return CF Venture Capital Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/16 0 0 0 0 25.73 06/16 0 0 0 0 25.73 09/16 0 0 0 0 25.73 12/16 0 0 0 0 25.73 03/17 0 0 0 0 25.73 06/17 0 0 0 0 25.73 09/17 0 0 0 0 25.73 12/17 0 0 0 0 25.73 03/18 0 0 0 0 25.73 Total 500,000 500,000 1,648,918 0 0 25.73
23 Chatham University Portfolio Internal Rate of Return CF Venture Capital III Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 12/96 771,000 50,000 0 0 0 50,000 0.00 NA 03/97 50,000 0 0 -2,027 0 0 47,973 -4.05 NA 06/97 47,973 3,970 0 -1,175 0 0 50,768 -6.16 NA 09/97 50,768 38,550 0 5,083 0 0 94,401 3.08 NA 12/97 94,401 0 0 17,790 0 0 112,191 29.03 29.03 03/98 112,191 38,550 0 -1,010 0 0 149,731 23.73 18.63 06/98 149,731 77,100 5,749 25,110 0 0 246,192 48.22 30.09 09/98 246,192 38,550 13,542 48,478 0 0 319,678 88.66 43.78 12/98 319,678 38,550 72,666 10,493 0 0 296,055 85.52 36.20 03/99 296,055 77,100 26,509 99,047 0 0 445,693 162.39 53.63 06/99 445,693 77,100 50,450 107,239 0 0 579,582 238.32 62.96 09/99 579,582 77,100 49,890 188,077 0 0 794,869 373.17 76.05 12/99 794,869 96,375 37,270 307,703 0 0 1,161,677 602.60 91.53 03/00 1,161,677 38,550 221,598 1,046,196 0 0 2,024,825 1,486.41 134.12 06/00 2,024,825 38,550 467,108 800,326 0 0 2,396,593 2,158.45 143.76 09/00 2,396,593 0 397,402 405,416 0 0 2,404,607 2,538.49 139.31 12/00 2,404,607 57,825 271,812 301,266 0 0 2,491,886 2,908.99 134.07 03/01 2,491,886 0 170,789 -789,434 0 0 1,531,663 2,319.40 111.66 06/01 1,531,663 0 102,896 -405,243 0 0 1,023,524 2,139.49 99.58 09/01 1,023,524 0 12,979 -35,923 0 0 974,622 2,343.21 95.96 12/01 974,622 0 15,501 -312,736 0 0 646,385 2,302.60 88.79 03/02 646,385 0 25,434 -47,451 0 0 573,500 2,546.58 86.65 06/02 573,500 0 10,748 -50,216 0 0 512,536 2,832.76 84.86 09/02 512,536 0 0 -60,872 0 0 451,664 3,157.59 83.27 12/02 451,664 0 10,794 -77,375 0 0 363,495 3,514.73 81.79
24 Chatham University Portfolio Internal Rate of Return CF Venture Capital III Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/03 363,495 7,710 20,309 -30,772 0 0 320,124 3,978.91 81.02 06/03 320,124 0 0 -10,092 0 0 310,032 4,550.36 80.55 09/03 310,032 0 22,814 21,273 0 0 308,491 5,259.17 80.36 12/03 308,491 7,710 14,945 17,655 0 0 318,911 6,072.79 80.17 03/04 318,911 0 17,714 615 0 0 301,812 6,977.59 79.92 06/04 301,812 0 11,880 6,354 0 0 296,286 8,032.65 79.74 09/04 296,286 0 19,981 -2,148 0 0 274,157 9,252.18 79.56 12/04 274,157 0 86,449 174,050 0 0 361,758 10,948.22 79.99 03/05 361,758 0 117,112 83,310 0 0 327,956 12,714.82 80.06 06/05 327,956 0 89,672 -26,299 0 0 211,985 14,623.24 79.89 09/05 211,985 0 6,327 13,345 0 0 219,003 16,936.66 79.85 12/05 219,003 0 15,495 23,946 0 0 227,454 19,634.44 79.83 03/06 227,454 0 0 3,257 0 0 230,711 22,648.34 79.78 06/06 230,711 0 30,205 17,567 0 0 218,073 26,196.77 79.76 09/06 218,073 0 13,155 -2,370 0 0 202,548 30,314.49 79.72 12/06 202,548 0 7,743 1,830 0 0 196,635 35,097.46 79.68 03/07 196,635 0 12,392 45,397 0 0 229,640 40,599.56 79.70 06/07 229,640 0 73,299 67,768 0 0 224,109 47,071.13 79.72 09/07 224,109 0 14,361 -2,549 0 0 207,199 54,501.80 79.70 12/07 207,199 0 28,145 1,060 0 0 180,114 63,126.02 79.68 03/08 180,114 0 15,617 2,945 0 0 167,442 73,016.13 79.67 06/08 167,442 0 3,368 -15,350 0 0 148,724 84,422.11 79.65 09/08 148,724 0 7,912 511 0 0 141,323 97,817.98 79.64 12/08 141,323 0 0 -9,439 0 0 131,884 113,321.86 79.63 03/09 131,884 0 6,955 -16,703 0 0 108,226 130,855.32 79.62
25 Chatham University Portfolio Internal Rate of Return CF Venture Capital III Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 06/09 108,226 0 4,481 -4,985 0 0 98,760 151,389.59 79.62 09/09 98,760 0 4,228 7,589 0 0 102,121 175,466.47 79.62 12/09 102,121 0 3,773 -1,811 0 0 96,537 203,346.69 79.61 03/10 96,537 0 1,049 181 0 0 95,669 234,912.89 79.61 06/10 95,669 0 5,860 2,303 0 0 92,112 271,822.91 79.61 09/10 92,112 0 19,633 -4,835 0 0 67,644 315,020.66 79.61 12/10 67,644 0 5,592 11,489 0 0 73,541 365,143.28 79.61 03/11 73,541 0 14,277 9,387 0 0 68,651 421,874.63 79.61 06/11 68,651 0 6,924 1,034 0 0 62,761 488,178.19 79.61 09/11 62,761 0 2,419 1,769 0 0 62,111 565,815.06 79.60 12/11 62,111 0 0 -7,884 0 0 54,227 655,770.69 79.60 03/12 54,227 0 6,446 4,453 0 0 52,234 758,854.94 79.60 06/12 52,234 0 4,697 4,838 0 0 52,375 878,144.44 79.60 09/12 52,375 0 355 -6,707 0 0 45,313 1,017,779.94 79.60 12/12 45,313 0 1,696 839 0 0 44,456 1,179,649.88 79.60 03/13 44,456 0 524 -6,567 0 0 37,365 1,362,860.75 79.60 06/13 37,365 0 0 -3,168 0 0 34,197 1,577,072.00 79.60 09/13 34,197 0 22,830 -3,515 0 0 7,852 1,827,884.25 79.60 12/13 7,852 0 6,785 79 0 0 1,146 2,118,612.75 79.60 03/14 1,146 0 0 -12 0 0 1,134 2,447,715.25 79.60 06/14 1,134 0 1,067 -67 0 0 0 2,832,479.75 79.60 09/14 0 0 0 0 0 79.60 12/14 0 0 0 0 79.60 03/15 0 0 0 0 79.60 06/15 0 0 0 0 79.60
26 Chatham University Portfolio Internal Rate of Return CF Venture Capital III Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/15 0 0 0 0 79.60 12/15 0 0 0 0 79.60 03/16 0 0 0 0 79.60 06/16 0 0 0 0 79.60 09/16 0 0 0 0 79.60 12/16 0 0 0 0 79.60 03/17 0 0 0 0 79.60 06/17 0 0 0 0 79.60 09/17 0 0 0 0 79.60 12/17 0 0 0 0 79.60 03/18 0 0 0 0 79.60 Total 771,000 763,290 2,711,623 0 0 79.60
27 Chatham University Portfolio Internal Rate of Return CF Venture Capital IV Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 12/98 750,000 0 37,500 0 0 0 0 37,500 0.00 NA 03/99 37,500 0 0 -3,621 0 0 33,879 -9.66 NA 06/99 33,879 56,250 234 -1,175 0 0 88,720 -8.53 NA 09/99 88,720 75,000 0 9,691 0 0 173,411 6.42 NA 12/99 173,411 75,000 0 25,670 0 0 274,081 30.89 27.61 03/00 274,081 112,500 0 105,878 0 0 492,459 114.50 75.74 06/00 492,459 75,000 21,776 78,758 0 0 624,441 144.66 74.76 09/00 624,441 37,500 24,258 12,151 0 0 649,834 126.42 55.36 12/00 649,834 56,250 34,287 95,488 0 0 767,285 162.69 58.16 03/01 767,285 18,750 21,318 -106,444 0 0 658,273 93.06 32.25 06/01 658,273 0 24,600 -83,600 0 0 550,073 50.89 17.12 09/01 550,073 18,750 0 -73,036 0 0 495,787 21.02 6.91 12/01 495,787 0 0 -92,996 0 0 402,791 -10.76 -3.60 03/02 402,791 0 3,881 -45,588 0 0 353,322 -24.26 -7.95 06/02 353,322 15,000 8,784 -37,285 0 0 322,253 -34.27 -10.99 09/02 322,253 7,500 0 -44,466 0 0 285,287 -45.52 -14.58 12/02 285,287 7,500 7,972 -40,863 0 0 243,952 -55.07 -17.70 03/03 243,952 0 0 -9,481 0 0 234,471 -56.70 -17.49 06/03 234,471 11,250 0 -17,829 0 0 227,892 -60.25 -18.16 09/03 227,892 0 9,139 10,131 0 0 228,884 -57.19 -16.03 12/03 228,884 22,500 9,360 8,079 0 0 250,103 -54.59 -14.32 03/04 250,103 15,000 13,631 -12,366 0 0 239,106 -56.98 -14.57 06/04 239,106 22,500 3,363 -7,672 0 0 250,571 -58.20 -14.41 09/04 250,571 0 7,889 10,439 0 0 253,121 -55.21 -12.81 12/04 253,121 5,625 58,403 76,593 0 0 276,936 -36.56 -7.18
28 Chatham University Portfolio Internal Rate of Return CF Venture Capital IV Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/05 276,936 7,500 84,164 49,573 0 0 249,845 -24.27 -4.28 06/05 249,845 15,000 12,303 -6,083 0 0 246,459 -25.94 -4.44 09/05 246,459 0 13,787 6,821 0 0 239,493 -24.33 -3.98 12/05 239,493 0 14,232 9,441 0 0 234,702 -22.04 -3.44 03/06 234,702 7,500 8,468 20,596 0 0 254,330 -16.78 -2.47 06/06 254,330 0 21,928 6,406 0 0 238,808 -15.19 -2.14 09/06 238,808 7,500 13,628 6,647 0 0 239,327 -13.53 -1.83 12/06 239,327 5,625 7,854 2,965 0 0 240,063 -12.82 -1.68 03/07 240,063 0 6,143 20,983 0 0 254,903 -7.18 -0.89 06/07 254,903 0 16,556 24,399 0 0 262,746 -0.50 -0.06 09/07 262,746 3,750 6,299 17,622 0 0 277,819 4.42 0.49 12/07 277,819 0 5,408 -42 0 0 272,369 4.44 0.48 03/08 272,369 7,500 6,866 15,151 0 0 288,154 8.76 0.90 06/08 288,154 3,750 5,983 -14,618 0 0 271,303 4.65 0.47 09/08 271,303 0 4,969 -1,094 0 0 265,240 4.37 0.43 12/08 265,240 1,875 4,437 -5,625 0 0 257,053 2.78 0.27 03/09 257,053 0 9,071 -23,183 0 0 224,799 -3.96 -0.39 06/09 224,799 0 11,147 -1,741 0 0 211,911 -4.50 -0.43 09/09 211,911 1,875 14,042 10,077 0 0 209,821 -1.55 -0.14 12/09 209,821 1,875 18,955 7,561 0 0 200,302 0.69 0.06 03/10 200,302 0 14,933 6,955 0 0 192,324 2.79 0.24 06/10 192,324 0 3,911 -2,835 0 0 185,578 1.95 0.17 09/10 185,578 0 5,432 6,763 0 0 186,909 4.05 0.34 12/10 186,909 1,875 29,458 16,234 0 0 175,560 9.11 0.72 03/11 175,560 1,875 13,030 16,497 0 0 180,902 14.35 1.09
29 Chatham University Portfolio Internal Rate of Return CF Venture Capital IV Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 06/11 180,902 0 11,472 -3,363 0 0 166,067 13.45 1.01 09/11 166,067 0 3,928 11,162 0 0 173,301 17.16 1.24 12/11 173,301 0 4,285 -10,501 0 0 158,515 13.98 1.00 03/12 158,515 0 6,457 5,635 0 0 157,693 15.97 1.11 06/12 157,693 0 9,163 14,288 0 0 162,818 20.82 1.40 09/12 162,818 0 9,756 6,609 0 0 159,671 23.24 1.52 12/12 159,671 0 7,863 -408 0 0 151,400 23.37 1.50 03/13 151,400 0 39,515 28,918 0 0 140,803 33.34 2.02 06/13 140,803 0 4,628 -32,045 0 0 104,130 22.91 1.42 09/13 104,130 0 12,704 3,716 0 0 95,142 24.51 1.49 12/13 95,142 0 2,962 153 0 0 92,333 24.90 1.48 03/14 92,333 0 5,831 4,074 0 0 90,576 26.68 1.55 06/14 90,576 0 4,195 -2,171 0 0 84,210 26.26 1.51 09/14 84,210 0 12,041 0 0 0 72,169 26.63 1.50 12/14 72,169 0 10,615 4,058 0 0 65,612 28.50 1.57 03/15 65,612 0 6,810 -1,680 0 0 57,122 28.28 1.53 06/15 57,122 0 7,866 1,735 0 0 50,991 29.34 1.56 09/15 50,991 0 1,544 -1,550 0 0 47,897 29.18 1.53 12/15 47,897 0 3,647 -2,560 0 0 41,690 28.62 1.48 03/16 41,690 0 4,628 -77 0 0 36,985 29.00 1.48 06/16 36,985 0 1,003 415 0 0 36,397 29.59 1.48 09/16 36,397 0 2,859 -1,181 0 0 32,357 29.54 1.46 12/16 32,357 0 3,030 2,859 0 0 32,186 31.13 1.51 03/17 32,186 0 0 -2,818 0 0 29,368 30.41 1.46 06/17 29,368 0 1,956 -333 0 0 27,079 30.69 1.45
30 Chatham University Portfolio Internal Rate of Return CF Venture Capital IV Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/17 27,079 0 3,130 1,477 0 0 25,426 31.75 1.47 12/17 25,426 0 0 118 0 0 25,544 32.25 1.47 03/18 25,544 0 0 719 0 0 26,263 32.99 1.48 Total 750,000 736,875 783,787 73,175 0 0 26,263 32.99 1.48
31 Chatham University Portfolio Internal Rate of Return CF Venture Capital V Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/00 1,320,000 0 75,000 0 0 0 0 75,000 0.00 NA 06/00 75,000 0 0 -5,237 0 0 69,763 -6.98 NA 09/00 69,763 75,000 0 233 0 0 144,996 -4.66 NA 12/00 144,996 37,500 718 -807 0 0 180,971 -4.64 NA 03/01 180,971 37,500 0 -2,672 0 0 215,799 -5.73 -5.73 06/01 215,799 0 0 -7,121 0 0 208,678 -9.50 -7.68 09/01 208,678 37,500 0 -10,318 0 0 235,860 -14.26 -9.74 12/01 235,860 37,500 0 -15,825 0 0 257,535 -20.83 -12.47 03/02 257,535 60,000 0 -25,467 0 0 292,068 -30.63 -16.71 06/02 292,068 30,000 0 -14,533 0 0 307,535 -33.91 -16.82 09/02 307,535 47,250 2,763 -23,049 0 0 328,973 -39.52 -18.21 12/02 328,973 13,500 0 -26,081 0 0 316,392 -45.60 -19.84 03/03 316,392 33,750 0 -27,445 0 0 322,697 -51.15 -21.24 06/03 322,697 39,600 5,486 -15,242 0 0 341,569 -52.49 -20.47 09/03 341,569 36,300 6,010 -6,207 0 0 365,652 -51.41 -18.63 12/03 365,652 36,300 0 -12,842 0 0 389,110 -52.08 -17.80 03/04 389,110 75,900 0 -99 0 0 464,911 -49.65 -15.75 06/04 464,911 75,900 10,822 -250 0 0 529,739 -47.33 -14.00 09/04 529,739 39,600 3,495 4,866 0 0 570,710 -43.96 -12.06 12/04 570,710 9,441 9,441 -3,139 0 0 567,571 -42.70 -11.05 03/05 567,571 59,400 10,882 13,005 0 0 629,094 -38.48 -9.26 06/05 629,094 52,800 17,775 1,692 0 0 665,811 -36.65 -8.32 09/05 665,811 56,100 29,375 11,392 0 0 703,928 -33.13 -7.05 12/05 703,928 29,700 29,700 24,263 0 0 728,191 -27.56 -5.45 03/06 728,191 26,400 13,501 15,586 0 0 756,676 -23.91 -4.45
32 Chatham University Portfolio Internal Rate of Return CF Venture Capital V Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 06/06 756,676 26,400 22,967 22,600 0 0 782,709 -19.19 -3.35 09/06 782,709 33,000 19,598 5,498 0 0 801,609 -17.71 -2.95 12/06 801,609 46,200 33,866 18,469 0 0 832,412 -14.06 -2.22 03/07 832,412 26,400 51,447 79,760 0 0 887,125 0.18 0.03 06/07 887,125 6,600 35,144 19,482 0 0 878,063 3.61 0.49 09/07 878,063 36,300 32,494 11,455 0 0 893,324 5.54 0.72 12/07 893,324 6,600 20,536 11,763 0 0 891,151 7.48 0.93 03/08 891,151 6,600 52,303 85,765 0 0 931,213 22.25 2.54 06/08 931,213 16,500 30,188 -34,643 0 0 882,882 16.02 1.82 09/08 882,882 0 0 -14,440 0 0 868,442 13.41 1.49 12/08 868,442 0 0 -20,800 0 0 847,642 9.82 1.07 03/09 847,642 0 0 -127,672 0 0 719,970 -10.86 -1.27 06/09 719,970 13,200 14,541 -18,784 0 0 699,845 -13.71 -1.58 09/09 699,845 6,600 0 -2,468 0 0 703,977 -14.01 -1.57 12/09 703,977 6,600 16,974 1,904 0 0 695,507 -13.63 -1.49 03/10 695,507 0 37,762 17,337 0 0 675,082 -10.91 -1.15 06/10 675,082 0 0 -6,222 0 0 668,860 -11.82 -1.22 09/10 668,860 0 53,519 -720 0 0 614,621 -11.90 -1.20 12/10 614,621 0 61,915 58,423 0 0 611,129 -2.90 -0.27 03/11 611,129 0 40,296 34,779 0 0 605,612 2.54 0.23 06/11 605,612 0 29,491 10,778 0 0 586,899 4.24 0.37 09/11 586,899 0 26,449 21,435 0 0 581,885 7.65 0.64 12/11 581,885 0 20,540 -27,761 0 0 533,584 3.27 0.27 03/12 533,584 0 25,903 15,587 0 0 523,268 5.76 0.47 06/12 523,268 0 7,394 2,140 0 0 518,014 6.13 0.49
33 Chatham University Portfolio Internal Rate of Return CF Venture Capital V Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/12 518,014 0 26,938 9,612 0 0 500,688 7.71 0.60 12/12 500,688 0 30,503 4,761 0 0 474,946 8.53 0.64 03/13 474,946 0 8,975 -30,017 0 0 435,954 3.69 0.28 06/13 435,954 0 36,642 -2,799 0 0 396,513 3.26 0.24 09/13 396,513 0 15,466 2,072 0 0 383,119 3.62 0.26 12/13 383,119 0 15,808 285 0 0 367,596 3.70 0.26 03/14 367,596 0 38,258 -666 0 0 328,672 3.61 0.25 06/14 328,672 0 30,703 16,152 0 0 314,121 6.37 0.43 09/14 314,121 0 10,679 3,705 0 0 307,147 7.06 0.47 12/14 307,147 0 11,055 -10,312 0 0 285,780 5.35 0.35 03/15 285,780 0 12,464 9,651 0 0 282,967 7.07 0.46 06/15 282,967 0 11,847 1,163 0 0 272,283 7.34 0.47 09/15 272,283 0 4,345 -10,495 0 0 257,443 5.56 0.35 12/15 257,443 0 12,086 -18,318 0 0 227,039 2.35 0.15 03/16 227,039 0 4,409 5,262 0 0 227,892 3.32 0.20 06/16 227,892 0 11,695 -23,526 0 0 192,671 -0.93 -0.06 09/16 192,671 0 6,567 -3,872 0 0 182,232 -1.65 -0.10 12/16 182,232 0 11,516 6,567 0 0 177,283 -0.45 -0.03 03/17 177,283 0 6,399 -5,054 0 0 165,830 -1.40 -0.08 06/17 165,830 0 7,156 -1,935 0 0 156,739 -1.78 -0.10 09/17 156,739 0 13,260 -8,004 0 0 135,475 -3.33 -0.19 12/17 135,475 0 4,951 1,241 0 0 131,765 -3.12 -0.18 03/18 131,765 0 10,487 2,233 0 0 123,511 -2.72 -0.15 Total 1,320,000 1,252,941 1,115,504 -13,926 0 0 123,511 -2.72 -0.15
34 Chatham University Portfolio Internal Rate of Return CF Venture Capital VI Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/02 525,000 0 7,500 0 0 0 0 7,500 0.00 NA 06/02 7,500 0 0 -1,623 0 0 5,877 -21.64 NA 09/02 5,877 3,375 0 -1,219 0 0 8,033 -32.81 NA 12/02 8,033 5,063 0 -860 0 0 12,236 -34.49 NA 03/03 12,236 0 0 -1,929 0 0 10,307 -46.35 -40.98 06/03 10,307 4,500 0 -1,053 0 0 13,754 -48.07 -36.76 09/03 13,754 6,000 0 -786 0 0 18,968 -46.53 -31.08 12/03 18,968 12,000 0 -196 0 0 30,772 -41.94 -24.51 03/04 30,772 6,000 0 1,786 0 0 38,558 -28.50 -14.24 06/04 38,558 13,335 0 -867 0 0 51,026 -27.42 -12.34 09/04 51,026 10,500 0 -1,515 0 0 60,011 -28.31 -11.66 12/04 60,011 13,125 0 -1,290 0 0 71,846 -27.93 -10.55 03/05 71,846 13,125 0 -765 0 0 84,206 -26.56 -9.24 06/05 84,206 23,625 0 -634 0 0 107,197 -24.81 -7.97 09/05 107,197 18,375 0 -2,089 0 0 123,483 -25.76 -7.77 12/05 123,483 10,500 0 3,110 0 0 137,093 -17.73 -4.83 03/06 137,093 31,500 3,573 -2,098 0 0 162,922 -19.17 -4.96 06/06 162,922 26,250 0 3,113 0 0 192,285 -12.84 -3.05 09/06 192,285 26,250 3,995 2,891 0 0 217,431 -7.90 -1.74 12/06 217,431 15,750 0 6,354 0 0 239,535 0.40 0.08 03/07 239,535 26,250 5,905 -2,181 0 0 257,699 -2.04 -0.40 06/07 257,699 26,250 4,127 -1,093 0 0 278,729 -2.96 -0.55 09/07 278,729 22,313 8,633 19,965 0 0 312,374 16.45 2.71 12/07 312,374 23,625 12,191 24,486 0 0 348,294 38.89 5.69 03/08 348,294 26,250 8,928 17,752 0 0 383,368 53.25 7.14
35 Chatham University Portfolio Internal Rate of Return CF Venture Capital VI Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 06/08 383,368 13,125 16,092 5,253 0 0 385,654 54.62 7.01 09/08 385,654 10,500 0 -555 0 0 395,599 50.91 6.35 12/08 395,599 10,500 0 -6,280 0 0 399,819 43.02 5.29 03/09 399,819 0 0 -46,526 0 0 353,293 7.43 1.00 06/09 353,293 7,875 0 -13,634 0 0 347,534 -1.56 -0.21 09/09 347,534 14,636 0 -1,535 0 0 360,635 -2.42 -0.32 12/09 360,635 2,625 6,743 12,284 0 0 368,801 4.86 0.60 03/10 368,801 7,875 12,819 12,578 0 0 376,435 12.05 1.40 06/10 376,435 7,875 7,144 3,371 0 0 380,537 13.61 1.52 09/10 380,537 5,250 4,890 10,204 0 0 391,101 19.00 2.02 12/10 391,101 0 18,281 25,554 0 0 398,374 33.05 3.25 03/11 398,374 2,729 0 79,408 0 0 480,511 80.11 6.61 06/11 480,511 5,250 7,762 25,465 0 0 503,464 94.20 7.29 09/11 503,464 0 4,522 61,528 0 0 560,470 131.58 9.05 12/11 560,470 0 4,149 -12,762 0 0 543,559 120.49 8.28 03/12 543,559 0 18,689 8,057 0 0 532,927 123.18 8.20 06/12 532,927 0 70,523 89,282 0 0 551,686 178.38 10.31 09/12 551,686 0 49,156 -22,583 0 0 479,947 161.94 9.43 12/12 479,947 0 29,765 -38,064 0 0 412,118 137.28 8.22 03/13 412,118 0 49,687 36,067 0 0 398,498 159.67 8.90 06/13 398,498 1,313 15,789 -41,413 0 0 342,609 134.38 7.73 09/13 342,609 1,313 27,307 18,642 0 0 335,257 146.41 8.02 12/13 335,257 1,313 17,116 36,472 0 0 355,926 169.96 8.67 03/14 355,926 2,626 37,696 2,283 0 0 323,139 172.52 8.57 06/14 323,139 0 35,266 41,008 0 0 328,881 200.23 9.24
36 Chatham University Portfolio Internal Rate of Return CF Venture Capital VI Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/14 328,881 1,313 20,586 1,560 0 0 311,168 203.27 9.14 12/14 311,168 0 21,392 129 0 0 289,905 205.76 9.02 03/15 289,905 0 17,659 17,808 0 0 290,054 219.99 9.22 06/15 290,054 0 18,309 5,044 0 0 276,789 226.26 9.20 09/15 276,789 0 14,605 11,460 0 0 273,644 237.16 9.28 12/15 273,644 0 21,647 -14,266 0 0 237,731 231.17 8.97 03/16 237,731 1,313 10,601 3,222 0 0 231,665 237.11 8.94 06/16 231,665 0 13,980 -16,754 0 0 200,931 229.67 8.61 09/16 200,931 0 24,966 2,718 0 0 178,683 235.75 8.59 12/16 178,683 0 10,308 24,966 0 0 193,341 257.57 8.90 03/17 193,341 0 6,608 -20,545 0 0 166,188 247.89 8.55 06/17 166,188 0 17,052 5,065 0 0 154,201 256.28 8.58 09/17 154,201 0 13,850 -1,162 0 0 139,189 260.65 8.52 12/17 139,189 0 9,371 4,529 0 0 134,347 269.40 8.54 03/18 134,347 0 12,225 393 0 0 122,515 275.23 8.51 Total 525,000 468,892 713,907 367,530 0 0 122,515 275.23 8.51
37 Chatham University Portfolio Internal Rate of Return CF Venture Capital VII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/05 1,000,000 0 3,000 0 0 0 0 3,000 0.00 NA 12/05 3,000 5,000 0 -996 0 0 7,004 -28.62 NA 03/06 7,004 15,000 0 -1,586 0 0 20,418 -35.65 NA 06/06 20,418 20,000 0 -225 0 0 40,193 -18.01 NA 09/06 40,193 20,000 0 -2,891 0 0 57,302 -23.07 -21.57 12/06 57,302 30,000 0 -1,464 0 0 85,838 -19.92 -15.37 03/07 85,838 30,000 0 -32,734 0 0 83,104 -69.07 -52.46 06/07 83,104 50,000 0 -21,801 0 0 111,303 -77.17 -55.44 09/07 111,303 80,000 0 -32,574 0 0 158,729 -84.36 -59.02 12/07 158,729 60,000 0 82,016 0 0 300,745 -12.08 -5.37 03/08 300,745 50,000 0 -20,949 0 0 329,796 -25.58 -10.82 06/08 329,796 70,000 0 -23,192 0 0 376,604 -34.98 -14.11 09/08 376,604 55,000 0 44,614 0 0 476,218 -6.76 -2.24 12/08 476,218 25,000 0 581 0 0 501,799 -5.63 -1.72 03/09 501,799 0 0 -29,154 0 0 472,645 -17.70 -5.30 06/09 472,645 40,000 0 -3,732 0 0 508,913 -17.65 -4.94 09/09 508,913 40,000 0 830 0 0 549,743 -16.06 -4.20 12/09 549,743 20,000 0 4,550 0 0 574,293 -13.44 -3.27 03/10 574,293 20,000 0 15,961 0 0 610,254 -7.51 -1.69 06/10 610,254 20,000 4,407 3,893 0 0 629,740 -5.90 -1.25 09/10 629,740 30,780 0 4,208 0 0 664,728 -4.36 -0.87 12/10 664,728 35,977 0 17,961 0 0 718,666 0.95 0.18 03/11 718,666 0 16,816 96,553 0 0 798,403 28.68 4.62 06/11 798,403 25,051 4,506 46,591 0 0 865,539 41.15 6.09 09/11 865,539 15,000 18,095 75,191 0 0 937,635 61.62 8.21
38 Chatham University Portfolio Internal Rate of Return CF Venture Capital VII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 12/11 937,635 15,000 7,953 -22,542 0 0 922,140 52.85 6.93 03/12 922,140 0 19,060 52,523 0 0 955,603 65.80 7.98 06/12 955,603 0 30,985 81,345 0 0 1,005,963 86.80 9.58 09/12 1,005,963 30,000 41,133 -33,904 0 0 960,926 75.22 8.24 12/12 960,926 15,000 24,683 -4,697 0 0 946,546 72.33 7.70 03/13 946,546 0 24,487 24,754 0 0 946,813 77.51 7.86 06/13 946,813 5,000 54,572 -11,125 0 0 886,116 73.51 7.29 09/13 886,116 0 16,642 28,923 0 0 898,397 79.99 7.54 12/13 898,397 7,500 54,580 56,944 0 0 908,261 93.80 8.26 03/14 908,261 7,500 33,345 51,612 0 0 934,028 106.39 8.81 06/14 934,028 2,500 30,533 28,246 0 0 934,241 113.06 8.94 09/14 934,241 12,500 72,103 16,942 0 0 891,580 116.94 8.90 12/14 891,580 0 22,454 2,678 0 0 871,804 117.38 8.67 03/15 871,804 0 63,587 61,734 0 0 869,951 133.28 9.24 06/15 869,951 5,000 52,723 28,457 0 0 850,685 140.93 9.35 09/15 850,685 0 33,166 26,471 0 0 843,990 148.32 9.44 12/15 843,990 0 49,192 -24,524 0 0 770,274 142.70 8.96 03/16 770,274 0 32,612 1,652 0 0 739,314 144.11 8.80 06/16 739,314 0 27,674 -40,118 0 0 671,522 134.83 8.20 09/16 671,522 0 76,950 4,915 0 0 599,487 137.47 8.11 12/16 599,487 0 47,993 76,950 0 0 628,444 159.49 8.77 03/17 628,444 0 20,326 -30,070 0 0 578,048 153.46 8.36 06/17 578,048 0 42,936 5,967 0 0 541,079 157.12 8.31 09/17 541,079 0 22,191 9,895 0 0 528,783 162.09 8.30 12/17 528,783 0 26,694 6,577 0 0 508,666 166.36 8.26
39 Chatham University Portfolio Internal Rate of Return CF Venture Capital VII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/18 508,666 0 36,277 11,312 0 0 483,701 172.07 8.28 Total 1,000,000 859,808 1,008,675 632,568 0 0 483,701 172.07 8.28
40 Chatham University Portfolio Internal Rate of Return CF Venture Capital VIII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/07 2,000,000 0 5,000 0 0 0 0 5,000 0.00 NA 12/07 5,000 50,000 0 -2,477 0 0 52,523 -10.48 NA 03/08 52,523 40,000 0 -24,315 0 0 68,208 -55.33 NA 06/08 68,208 60,000 0 -25,669 0 0 102,539 -67.03 NA 09/08 102,539 60,000 0 33,859 0 0 196,398 -19.10 -17.31 12/08 196,398 40,000 0 -7,783 0 0 228,615 -20.76 -15.65 03/09 228,615 80,000 0 -12,017 0 0 296,598 -24.54 -16.01 06/09 296,598 30,000 0 -15,091 0 0 311,507 -28.58 -16.53 09/09 311,507 70,000 0 -7,974 0 0 373,533 -28.29 -14.55 12/09 373,533 80,000 0 3,423 0 0 456,956 -23.70 -10.80 03/10 456,956 70,000 0 33,105 0 0 560,061 -9.31 -3.67 06/10 560,061 80,000 0 -7,062 0 0 632,999 -10.61 -3.84 09/10 632,999 70,000 0 4,379 0 0 707,378 -8.25 -2.72 12/10 707,378 110,000 0 13,321 0 0 830,699 -3.89 -1.17 03/11 830,699 120,000 0 98,464 0 0 1,049,163 21.80 5.61 06/11 1,049,163 120,000 0 53,120 0 0 1,222,283 33.00 7.66 09/11 1,222,283 80,000 0 113,663 0 0 1,415,946 57.17 11.61 12/11 1,415,946 80,000 0 16,359 0 0 1,512,305 55.97 10.71 03/12 1,512,305 67,177 0 -42,160 0 0 1,537,322 42.96 8.05 06/12 1,537,322 68,251 0 32,594 0 0 1,638,167 46.18 8.12 09/12 1,638,167 40,487 10,000 41,651 0 0 1,710,305 50.69 8.34 12/12 1,710,305 50,000 19,026 -27,510 0 0 1,713,769 43.00 6.89 03/13 1,713,769 27,274 0 10,782 0 0 1,751,825 42.49 6.51 06/13 1,751,825 10,817 0 72,309 0 0 1,834,951 51.65 7.36 09/13 1,834,951 50,000 49,664 53,239 0 0 1,888,526 57.40 7.70
41 Chatham University Portfolio Internal Rate of Return CF Venture Capital VIII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 12/13 1,888,526 40,000 86,818 176,404 0 0 2,018,112 81.50 9.81 03/14 2,018,112 25,000 36,046 283,800 0 0 2,290,866 122.21 12.83 06/14 2,290,866 35,000 65,289 86,794 0 0 2,347,371 131.65 13.02 09/14 2,347,371 25,000 119,946 78,792 0 0 2,331,217 139.83 13.08 12/14 2,331,217 15,000 85,300 57,371 0 0 2,318,288 145.06 12.93 03/15 2,318,288 20,000 88,295 368,857 0 0 2,618,850 197.83 15.41 06/15 2,618,850 10,000 141,642 42,854 0 0 2,530,062 200.86 15.03 09/15 2,530,062 15,000 51,865 94,441 0 0 2,587,638 212.20 15.06 12/15 2,587,638 0 63,177 -32,616 0 0 2,491,845 204.84 14.24 03/16 2,491,845 10,000 49,097 15,199 0 0 2,467,947 205.08 13.82 06/16 2,467,947 5,000 66,880 -71,275 0 0 2,334,792 193.35 12.90 09/16 2,334,792 0 72,594 10,816 0 0 2,273,014 193.89 12.55 12/16 2,273,014 0 80,752 72,594 0 0 2,264,856 203.46 12.57 03/17 2,264,856 10,000 59,464 -72,256 0 0 2,143,136 193.03 11.83 06/17 2,143,136 10,000 82,831 -20,149 0 0 2,050,156 190.20 11.40 09/17 2,050,156 0 78,175 33,439 0 0 2,005,420 195.11 11.29 12/17 2,005,420 0 142,294 96,505 0 0 1,959,631 209.09 11.49 03/18 1,959,631 15,000 79,897 47,942 0 0 1,942,676 216.82 11.47 Total 2,000,000 1,794,006 1,529,052 1,677,722 0 0 1,942,676 216.82 11.47
42 Chatham University Portfolio Internal Rate of Return CF Venture Partners IX Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 06/10 1,000,000 0 15,000 0 -3,513 0 0 11,487 -25.54 NA 09/10 11,487 0 0 1,137 0 0 12,624 -16.54 NA 12/10 12,624 25,000 0 -970 0 0 36,654 -19.89 NA 03/11 36,654 30,000 0 -1,253 0 0 65,401 -16.70 NA 06/11 65,401 50,000 0 -2,643 0 0 112,758 -17.69 -14.46 09/11 112,758 34,999 0 -1,692 0 0 146,065 -15.51 -10.64 12/11 146,065 50,000 0 902 0 0 196,967 -10.73 -6.28 03/12 196,967 40,000 0 -32,937 0 0 204,030 -39.70 -22.35 06/12 204,030 80,000 0 -44,629 0 0 239,401 -61.64 -34.69 09/12 239,401 10,000 0 69,195 0 0 318,596 -11.82 -4.91 12/12 318,596 40,000 0 -13,526 0 0 345,070 -18.46 -7.15 03/13 345,070 40,000 0 6,467 0 0 391,537 -13.03 -4.55 06/13 391,537 40,000 0 40,550 0 0 472,087 8.92 2.66 09/13 472,087 40,000 0 13,648 0 0 525,735 14.66 3.98 12/13 525,735 40,000 0 36,705 0 0 602,440 30.29 7.30 03/14 602,440 70,000 30,000 182,147 0 0 824,587 115.53 21.16 06/14 824,587 75,000 38,060 26,786 0 0 888,313 118.83 20.24 09/14 888,313 35,000 15,000 76,129 0 0 984,442 144.93 22.02 12/14 984,442 15,000 67,781 113,653 0 0 1,045,314 186.99 24.83 03/15 1,045,314 40,000 25,000 207,575 0 0 1,267,889 273.08 30.12 06/15 1,267,889 25,000 25,000 70,334 0 0 1,338,223 290.98 29.66 09/15 1,338,223 35,000 39,094 122,832 0 0 1,456,961 332.15 30.48 12/15 1,456,961 12,500 12,500 48,052 0 0 1,505,013 338.36 29.29 03/16 1,505,013 7,500 7,500 47,164 0 0 1,552,177 344.72 28.22 06/16 1,552,177 10,000 16,870 -23,979 0 0 1,521,328 322.24 25.91
43 Chatham University Portfolio Internal Rate of Return CF Venture Partners IX Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/16 1,521,328 10,000 21,928 -4,020 0 0 1,505,380 309.98 24.23 12/16 1,505,380 0 17,836 11,928 0 0 1,499,472 305.41 23.02 03/17 1,499,472 5,000 57,293 83,305 0 0 1,530,484 328.61 23.10 06/17 1,530,484 7,500 35,703 104,350 0 0 1,606,631 359.95 23.42 09/17 1,606,631 0 35,635 25,907 0 0 1,596,903 362.79 22.65 12/17 1,596,903 0 120,472 75,900 0 0 1,552,331 385.27 22.59 03/18 1,552,331 0 68,207 117,244 0 0 1,601,368 424.19 23.00 Total 1,000,000 882,499 633,879 1,352,748 0 0 1,601,368 424.19 23.00
44 Chatham University Portfolio Internal Rate of Return CF Venture Partners X Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 09/12 250,000 0 4,375 0 0 0 0 4,375 0.00 NA 12/12 4,375 1,250 0 -1,571 0 0 4,054 -31.38 NA 03/13 4,054 5,000 0 -3,521 0 0 5,533 -75.13 NA 06/13 5,533 5,000 0 5,656 0 0 16,189 6.82 NA 09/13 16,189 6,875 0 227 0 0 23,291 7.11 6.82 12/13 23,291 6,250 0 -217 0 0 29,324 4.02 3.09 03/14 29,324 12,500 0 5,175 0 0 46,999 33.99 20.93 06/14 46,999 26,250 0 857 0 0 74,106 30.76 16.17 09/14 74,106 20,000 0 1,231 0 0 95,337 28.17 12.93 12/14 95,337 20,000 1,174 9,424 0 0 123,587 52.54 20.22 03/15 123,587 16,250 1,106 13,855 0 0 152,586 82.25 26.66 06/15 152,586 16,250 3,524 -8,146 0 0 157,166 49.38 15.48 09/15 157,166 15,000 0 34,909 0 0 207,075 118.88 29.38 12/15 207,075 12,500 0 9,528 0 0 229,103 123.16 27.60 03/16 229,103 10,625 0 9,822 0 0 249,550 127.96 26.19 06/16 249,550 6,250 0 -170 0 0 255,630 115.09 22.38 09/16 255,630 5,039 0 3,108 0 0 263,777 110.03 20.14 12/16 263,777 2,492 0 -5,039 0 0 261,230 94.55 16.76 03/17 261,230 8,758 0 7,777 0 0 277,765 98.73 16.32 06/17 277,765 3,750 1,401 9,415 0 0 289,529 104.75 16.13 09/17 289,529 2,500 0 7,428 0 0 299,457 108.04 15.63 12/17 299,457 0 11,816 14,862 0 0 302,503 120.46 16.10 03/18 302,503 1,250 3,496 19,376 0 0 319,633 138.13 16.95 Total 250,000 208,164 22,517 133,986 0 0 319,633 138.13 16.95
45 Chatham University Portfolio Internal Rate of Return CF Natural Resources Partners VII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/07 1,000,000 0 14,000 0 0 0 0 14,000 0.00 NA 06/07 14,000 25,000 0 -27,649 0 0 11,351 -98.57 NA 09/07 11,351 10,000 0 13,975 0 0 35,326 -46.91 NA 12/07 35,326 65,000 145 -40,516 0 0 59,665 -90.74 NA 03/08 59,665 30,000 0 0 0 0 89,665 -73.79 -66.17 06/08 89,665 20,000 0 49,699 0 0 159,364 -6.07 -4.13 09/08 159,364 40,000 0 15,154 0 0 214,518 12.35 6.93 12/08 214,518 50,000 0 -13,729 0 0 250,789 -2.83 -1.43 03/09 250,789 35,000 0 -50,503 0 0 235,286 -38.72 -19.67 06/09 235,286 40,000 0 -8,770 0 0 266,516 -39.46 -18.29 09/09 266,516 40,000 0 7,961 0 0 314,477 -31.12 -12.73 12/09 314,477 70,000 0 -3,363 0 0 381,114 -29.29 -10.95 03/10 381,114 20,000 0 33,134 0 0 434,248 -11.77 -3.80 06/10 434,248 50,000 0 2,717 0 0 486,965 -9.59 -2.85 09/10 486,965 25,000 0 -14,669 0 0 497,296 -14.51 -4.11 12/10 497,296 25,000 3,537 21,128 0 0 539,887 -5.78 -1.48 03/11 539,887 20,000 0 63,290 0 0 623,177 17.52 3.89 06/11 623,177 40,000 16,724 47,995 0 0 694,448 33.88 6.72 09/11 694,448 25,000 0 14,703 0 0 734,151 37.22 6.91 12/11 734,151 50,812 1,374 -40,236 0 0 743,353 21.98 4.06 03/12 743,353 30,000 11,887 65,386 0 0 826,852 41.57 6.86 06/12 826,852 0 7,997 13,654 0 0 832,509 43.89 6.86 09/12 832,509 35,000 20,410 -34,519 0 0 812,580 31.88 4.94 12/12 812,580 15,000 18,890 31,523 0 0 840,213 39.63 5.73 03/13 840,213 6,227 40,227 88,591 0 0 894,804 63.61 8.21
46 Chatham University Portfolio Internal Rate of Return CF Natural Resources Partners VII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 06/13 894,804 10,000 39,100 -12,060 0 0 853,644 58.49 7.36 09/13 853,644 10,000 44,785 -3,394 0 0 815,465 56.28 6.85 12/13 815,465 10,000 43,537 84,855 0 0 866,783 78.46 8.64 03/14 866,783 5,000 40,058 -4,268 0 0 827,457 76.19 8.14 06/14 827,457 17,500 87,588 39,629 0 0 796,998 86.14 8.65 09/14 796,998 5,000 46,425 74,518 0 0 830,091 106.00 9.79 12/14 830,091 10,000 34,699 -21,196 0 0 784,196 99.73 9.04 03/15 784,196 2,500 11,969 -137,796 0 0 636,931 62.93 6.10 06/15 636,931 36,250 21,379 -22,654 0 0 629,148 56.99 5.46 09/15 629,148 2,500 12,889 -22,638 0 0 596,121 51.20 4.84 12/15 596,121 7,500 11,367 -61,742 0 0 530,512 35.76 3.46 03/16 530,512 2,500 6,436 -46,342 0 0 480,234 24.40 2.39 06/16 480,234 0 8,029 -7,228 0 0 464,977 22.69 2.18 09/16 464,977 0 2,501 22,024 0 0 484,500 28.12 2.58 12/16 484,500 0 31,761 2,501 0 0 455,240 28.82 2.57 03/17 455,240 5,000 19,567 58,728 0 0 499,401 43.53 3.59 06/17 499,401 15,000 19,442 2,889 0 0 497,848 44.41 3.57 09/17 497,848 0 5,176 -13,572 0 0 479,100 41.18 3.26 12/17 479,100 0 0 -244 0 0 478,856 41.28 3.19 03/18 478,856 0 17,823 0 0 0 461,033 41.45 3.13 Total 1,000,000 919,789 625,722 166,966 0 0 461,033 41.45 3.13
47 Chatham University Portfolio Internal Rate of Return CF Natural Resources Ptrs VIII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 12/08 1,000,000 0 27,500 0 -190 0 0 27,310 -0.69 NA 03/09 27,310 0 0 -3,746 0 0 23,564 -14.31 NA 06/09 23,564 10,000 0 -2,428 0 0 31,136 -21.56 NA 09/09 31,136 0 0 2,381 0 0 33,517 -12.51 NA 12/09 33,517 7,500 13 918 0 0 41,922 -8.97 -7.97 03/10 41,922 87,500 0 -1,958 0 0 127,464 -11.88 -8.77 06/10 127,464 35,000 0 35,496 0 0 197,960 55.46 31.14 09/10 197,960 0 0 -793 0 0 197,167 43.02 20.97 12/10 197,167 0 9,305 18,289 0 0 206,151 61.97 25.39 03/11 206,151 0 0 19,815 0 0 225,966 81.69 28.54 06/11 225,966 55,000 0 12,188 0 0 293,154 89.09 27.44 09/11 293,154 30,000 0 287 0 0 323,441 79.93 22.63 12/11 323,441 50,000 3,988 -11,224 0 0 358,229 60.07 16.21 03/12 358,229 50,000 0 -3,528 0 0 404,701 51.09 12.98 06/12 404,701 20,000 0 6,810 0 0 431,511 51.04 12.03 09/12 431,511 21,648 0 -13,222 0 0 439,937 37.53 8.55 12/12 439,937 77,500 1,145 -31,053 0 0 485,239 15.81 3.61 03/13 485,239 72,544 5,360 31,112 0 0 583,535 31.37 6.43 06/13 583,535 32,500 7,500 63,003 0 0 671,538 62.15 11.00 09/13 671,538 15,000 8,053 -13,078 0 0 665,407 50.63 8.75 12/13 665,407 35,000 18,207 -2,329 0 0 679,871 46.02 7.65 03/14 679,871 15,000 19,949 41,622 0 0 716,544 61.66 9.34 06/14 716,544 40,000 14,382 -16,536 0 0 725,626 51.22 7.62 09/14 725,626 20,000 8,755 51,678 0 0 788,549 69.53 9.39 12/14 788,549 29,000 19,603 -18,898 0 0 779,048 58.84 7.83
48 Chatham University Portfolio Internal Rate of Return CF Natural Resources Ptrs VIII Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/15 779,048 11,000 3,580 -93,217 0 0 693,251 23.31 3.34 06/15 693,251 7,500 0 -18,807 0 0 681,944 16.37 2.31 09/15 681,944 7,500 0 15,404 0 0 704,848 20.60 2.76 12/15 704,848 2,500 6,942 -12,976 0 0 687,430 16.05 2.11 03/16 687,430 10,000 3,862 -38,664 0 0 654,904 4.56 0.61 06/16 654,904 9,000 9,000 -3,565 0 0 651,339 3.47 0.45 09/16 651,339 20,000 12,500 67,432 0 0 726,271 21.87 2.54 12/16 726,271 0 85,191 -7,500 0 0 633,580 19.38 2.20 03/17 633,580 3,500 12,418 117,622 0 0 742,284 52.14 5.13 06/17 742,284 13,000 20,296 -67,679 0 0 667,309 32.38 3.30 09/17 667,309 0 0 -21,342 0 0 645,967 26.23 2.66 12/17 645,967 17,500 15,952 -1,278 0 0 646,237 25.58 2.52 03/18 646,237 0 11,964 0 0 0 634,273 25.31 2.43 Total 1,000,000 832,192 297,965 100,046 0 0 634,273 25.31 2.43
49 Chatham University Portfolio Internal Rate of Return CF Emerging Markets 2013 Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/14 500,000 0 22,610 0 427 0 0 23,037 2.69 NA 06/14 23,037 42,500 0 0 0 0 65,537 1.54 NA 09/14 65,537 40,000 0 -960 0 0 104,577 -1.12 NA 12/14 104,577 22,500 0 -1,783 0 0 125,294 -3.59 NA 03/15 125,294 10,000 0 6,810 0 0 142,104 5.71 4.91 06/15 142,104 11,250 0 -5,388 0 0 147,966 -0.98 -0.70 09/15 147,966 10,000 0 15,831 0 0 173,797 15.29 8.95 12/15 173,797 7,500 0 7,873 0 0 189,170 21.68 10.81 03/16 189,170 17,500 0 22,433 0 0 229,103 40.84 17.17 06/16 229,103 7,500 0 600 0 0 237,203 38.82 14.58 09/16 237,203 7,500 0 8,600 0 0 253,303 43.76 14.60 12/16 253,303 15,635 0 -7,500 0 0 261,438 35.61 11.01 03/17 261,438 22,500 0 -390 0 0 283,548 33.59 9.59 06/17 283,548 20,000 3,388 21,099 0 0 321,259 47.00 11.96 09/17 321,259 12,500 0 18,150 0 0 351,909 57.19 13.14 12/17 351,909 10,000 0 30,120 0 0 392,029 75.00 15.37 03/18 392,029 43,911 16,226 -7,661 0 0 412,053 66.71 13.07 Total 500,000 323,406 19,614 108,261 0 0 412,053 66.71 13.07
50 Chatham University Portfolio Internal Rate of Return CF Global Distressed II Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/14 1,000,000 0 850,694 170,000 21,105 0 0 701,799 2.51 NA 06/14 701,799 0 85,609 0 0 0 616,190 2.93 NA 09/14 616,190 0 78,327 23,431 0 0 561,294 6.64 NA 12/14 561,294 0 129,530 15,683 0 0 447,447 9.79 NA 03/15 447,447 0 67,900 6,827 0 0 386,374 11.80 10.10 06/15 386,374 0 29,000 12,049 0 0 369,423 15.02 10.44 09/15 369,423 0 29,000 6,514 0 0 346,937 17.37 10.13 12/15 346,937 0 20,000 -873 0 0 326,064 18.27 9.17 03/16 326,064 0 14,500 -1,899 0 0 309,665 18.86 8.32 06/16 309,665 0 11,700 -12,540 0 0 285,425 16.85 6.67 09/16 285,425 0 11,700 17,645 0 0 291,370 21.95 7.74 12/16 291,370 0 41,900 11,700 0 0 261,170 25.86 8.21 03/17 261,170 0 15,000 7,886 0 0 254,057 29.06 8.40 06/17 254,057 0 30,000 1,711 0 0 225,767 30.77 8.18 09/17 225,767 0 12,000 6,945 0 0 220,712 34.07 8.33 12/17 220,712 0 13,000 337 0 0 208,050 35.60 8.09 03/18 208,050 0 34,959 0 0 0 173,091 37.03 7.86 Total 1,000,000 850,694 794,125 116,522 0 0 173,091 37.03 7.86
51 Chatham University Portfolio Internal Rate of Return Portfolio Advisors PE VI Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/14 600,000 0 427,818 12,081 0 0 0 415,737 0.00 NA 06/14 415,737 40,941 4,325 27,280 0 0 479,633 6.42 NA 09/14 479,633 6,671 22,661 2,298 0 0 465,941 6.83 NA 12/14 465,941 10,108 14,892 17,698 0 0 478,855 10.92 NA 03/15 478,855 0 12,556 2,098 0 0 468,397 11.42 9.78 06/15 468,397 14,057 3,215 22,300 0 0 501,539 16.64 11.55 09/15 501,539 0 16,358 12,284 0 0 497,465 19.53 11.34 12/15 497,465 0 6,609 17,821 0 0 508,677 23.80 11.81 03/16 508,677 0 8,302 142,970 0 0 643,345 57.51 23.39 06/16 643,345 0 3,430 21,225 0 0 661,140 62.83 22.41 09/16 661,140 0 9,617 7,398 0 0 658,921 64.96 20.68 12/16 658,921 0 12,648 4,321 0 0 650,594 66.42 19.09 03/17 650,594 0 17,838 26,079 0 0 658,835 73.20 18.97 06/17 658,835 0 28,505 28,141 0 0 658,471 80.72 18.95 09/17 658,471 0 32,231 51,163 0 0 677,403 94.20 19.87 12/17 677,403 25,129 0 50,895 0 0 753,427 107.93 20.56 03/18 753,427 20,967 3,805 -7,801 0 0 762,788 106.82 19.08 Total 600,000 545,691 209,073 426,170 0 0 762,788 106.82 19.08
52 Chatham University Portfolio Internal Rate of Return Portfolio Advisors Pan Asia Select Quarter Ended 3/31/18 Commitment Beginning Ending Internal Value Capital Investment Capital Rate Annualized Quarter $ Account Contribution Distribution Appreciation Expenses Fees Account of Return IRR 03/14 400,000 0 113,876 0 0 0 0 113,876 0.00 NA 06/14 113,876 19,723 0 2,358 0 0 135,957 2.01 NA 09/14 135,957 33,136 0 0 0 0 169,093 1.80 NA 12/14 169,093 0 0 5,412 0 0 174,505 5.52 NA 03/15 174,505 0 0 4,790 0 0 179,295 8.60 7.38 06/15 179,295 24,000 0 1,170 0 0 204,465 9.02 6.32 09/15 204,465 0 0 3,349 0 0 207,814 10.82 6.38 12/15 207,814 12,000 0 14,291 0 0 234,105 19.33 9.68 03/16 234,105 0 0 -15,787 0 0 218,318 9.30 4.20 06/16 218,318 0 0 11,335 0 0 229,653 15.78 6.27 09/16 229,653 0 12,237 1,878 0 0 219,294 16.60 5.94 12/16 219,294 0 6,120 9,887 0 0 223,061 22.16 7.11 03/17 223,061 0 0 18,540 0 0 241,601 32.74 9.37 06/17 241,601 0 0 6,816 0 0 248,417 36.52 9.56 09/17 248,417 0 12,085 11,631 0 0 247,963 43.06 10.27 12/17 247,963 0 8,568 20,061 0 0 259,456 54.64 11.78 03/18 259,456 0 6,896 34,733 0 0 287,293 74.90 14.38 Total 400,000 202,735 45,906 130,464 0 0 287,293 74.90 14.38
53 Chatham University Growth of One Dollar Clarion Lion Quarter Ended 3/31/18
1.80 1.70 1.60 1.50 1.40 1.30 1.20 1.10 Value 1.00 0.90 0.80 0.70 0.60 0.50 3/09 3/10 3/11 3/12 3/13 3/14 3/15 3/16 3/17 3/18
Return $ Legend 3 Years Inception 12/31/08 Value Total 9.72 5.30 1.61 NCREIF Open End Div Core EQ NOF 9.00 5.92 1.70
1 Chatham University Value Added Analysis Clarion Lion Quarter Ended 3/31/18
4.5%
4.0%
3.5%
3.0%
2.5%
2.0%
1.5% 1.28 1.10 1.0% 1.00 0.76 0.76 0.76
0.5% 0.36 0.35 0.31 0.17 0.21 0.0% -0.05 -0.07 -0.04 -0.24 -0.5% -0.33 -0.41
-0.7 -0.7 -0.7 -1.0% 6/13 9/13 12/13 3/14 6/14 9/14 12/14 3/15 6/15 9/15 12/15 3/16 6/16 9/16 12/16 3/17 6/17 9/17 12/17 3/18
Quarterly NOF Value Added vs. NCREIF Open End Div Core EQ NOF Cumulative Value Added 2 Yr Rolling Avg (Annualized)
2 Chatham University Custom Benchmark Specification Clarion Lion Quarter Ended 3/31/18
Label Quarter Start Quarter End Percent Description NCREIF Open End Div Core EQ NOF 12/08 3/18 100.00 NCREIF ODCE NOF
3 GLOSSARY
As Allocated to Managers - The percent of total Trust assets held by the Interest Rate Anticipation - The portion of net management effect which is individual managers. The percentages are also summarized by manager attributable to deviation from the duration of the benchmark. category, i.e. Domestic Equity Managers, etc.
As Invested by Managers - The percent of total Trust assets that each Investment Gain/Loss - The investment income and realized or unrealized manager holds in each asset class. The percentages are also summarized by increase (decrease) in market value of a portfolio for the time period. manager category. Investment Fees - Amounts paid to investment managers as investment Beta - A measure of relative volatility. A beta over 1.0 indicates above- management fees. market volatility; below 1.0, less volatility. Market Capitalization - The sum of the market value of outstanding Current Yield - The stated coupon rate of a bond divided by its current common stock of a company. market price. Maturity - The date on which a loan, bond, mortgage or other debt/security Distributions & Administrative Fees - Amounts withdrawn from the trust becomes due and is to be repaid. for the payment of benefits or non-manager fees. Median Market Capitalization - The market capitalization that exceeds one DBT/EQ - Debt to equity ratio. A measure of the relative amount of funds half of the values in a population and which is exceeded by the other half of provided by lenders and owners. the values. The median has a percentile rank of 50.
Net Contribution - The total amount contributed to the trust during the Long Term Debt Debt / Equity Ratio = quarter. It includes amounts contributed to the managers’ accounts and Shareholders' Equity amounts transferred within the trust from the managers’ accounts. Amounts withdrawn from the trust are not reflected in this column, since they are Effective Duration - An option-adjusted measure of the sensitivity of the included in "Distributions & Administrative Fees" or "Investment Fees." portfolio to changes in interest rates. Net/Real Return - A client or manager's total return adjusted for inflation by Equity Yield - The ratio of the level of current income from dividends to the using the Consumer Price Index. most recent share price.
Equity Yield = Indicated Annual Dividend Stock Price
GLOSSARY
P/B - Price to book ratio, the current market price of a stock divided by the ROE - Return on equity; return to stockholders measured by relating profits previous year's book value per share. to stockholder's equity.
P/B = Market Price of Common Stock ROE = Net Profit After Tax Book Value per Share Stockholders' Equity
Portfolio P/B is computed as the reciprocal of the value-weighted summation Sector/Issue - The portion of net management effect which is attributable to a of the individual stocks’ B/Ps. manager's ability to choose bond market sectors and individual issues that outperform the market. P/E - Price/earnings ratio, the current market price of a stock divided by the previous year's earning per share. Sector Weighting - The portion of net management effect which is attributable to a manager's ability to allocate assets across market sectors.
= Market Price of Common Stock P/E Stock Selection - The portion of net management effect which is attributable Last 12 months' EPS to a manager's ability to choose securities that outperform the market.
Portfolio P/C is computed as the reciprocal of the value-weighted summation Style - Measures the return impact of a manager's investment style according of the individual stocks’ E/Ps. to the selected index.
Performance Comparison – Data for Wilshire Associates Universe Timing - The portion of net management effect which is attributable to a Comparison Service is supplied by Wilshire’s Manager Universe Database manager's ability to use cash in anticipation of falling markets. and by Wilshire’s Cooperative Universe Service.
Total Fund Attribution Return Contribution – The exhibit can be run with Quality - Weighted portfolio quality rating ranked as follows: or without a Universe Allocation. The formulas below assume a Universe
Allocation. If the exhibit is run without a Universe Allocation the relevant GOV = 5.0 - 4.5 AAA = 4.49 - 3.5 return contribution is included in the Strategic Policy Return Contribution. AA = 3.49 - 2.5 A = 2.49 - 1.5
BAA = 1.49 - 0.5 (Universe Return * Universe Allocation) / 100.0 R Square - The percent diversification relative to the market. The higher the number (up to 1.0), the more diversified. GLOSSARY Strategic Policy = Years To Effective Maturity - The time remaining in years until the bond’s ((1.0 + (Policy Return * Policy Allocation / 100.0)/100.0) / (1.0 + last payment of interest and principal, taking into account prepayment (Universe Return * Universe Allocation / 100.0)) – 1.0) * 100.0 contingencies of the bond. Asset Allocation = Yield To Effective Maturity - The option-adjusted yield provided by a bond ((1.0 + (Actual Allocation * Policy Return / 100.0)/100.0) / (1.0 + to its maturity date. (Policy Allocation * Policy Return / 100.0)) – 1.0) * 100.0 Active Management = ((1.0 + (Actual Return * Actual Allocation / 100.0)/100.0) / (1.0 + (Policy Return * Actual Allocation / 100.0)) – 1.0) * 100.0 Actual Return = (Actual Return * Actual Allocation) / 100.0 Total Net Management Effect - Measures the added return produced by a manager. Trading Effect - Measures the impact of quarterly trading on portfolio returns, determined by comparing the actual portfolio return with that of the buy-and-hold portfolio. The buy-and-hold return is used to illustrate the results that would have been obtained if the manager had maintained the initial holdings throughout the period. Turnover - The rate at which securities within a portfolio are exchanged for other securities, defined as the lesser of sales or purchases during a specified period divided by the average market value. Equity Turnover = Lesser of Equity Purchases or Sales Average Equity Market Value GLOSSARY Wilshire Equity Sectors Global Industry Classification Standard Sectors CGD Capital Goods The Global Industry Classification Standard (GICS) was developed by and is CDU Consumer Durables the exclusive property of Morgan Stanley Capital International Inc. and CND Consumer Non-Durables Standard & Poor’s. GICS is the service mark of MSCI and S&P and has been ENR Energy licensed for use by Wilshire Associates. FIN Finance M&S Materials and Services CDI Consumer Discretionary TEC Technology CST Consumer Staples TRN Transportation ENR Energy UTL Utilities FIN Financials HTH Healthcare IND Industrials Wilshire International Sectors INF Information Technology MAT Materials ENR Energy RES Real Estate MAT Materials TEL Telecommunication Services CAP Capital Equipment UTI Utilities CON Consumer Goods SRV Services Fixed Income Sectors FIN Finance Maturity Sector Analysis MIN Multi-Industry GMN Gold Mines FIN Finance MIS Miscellaneous FOR Foreign (Yankee Bonds) GA Treasuries & non-mortgage government agencies IND Industrial MISC Miscellaneous, cash and cash equivalents MTGE Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC), and corporate mortgages TRAN Transportation UTL Utilities