Palo Capital, Inc.

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CIK 1615963

13F portfolio (2018-Q4)

$236M

Positions

137

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2018-Q3. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2018-Q4)

Holdings

137

Top 5

11.7%

Top 10

21.2%

Effective N

81.6

HHI

0.012

This quarter

12 new · 0 exit →

By sector

Unclassified24.0%

Industrials19.5%

Financials13.5%

Information Technology11.7%

Consumer Discretionary10.5%

Health Care5.1%

Materials4.1%

Communication Services3.6%

Other8.2%

By market cap

Large ($10–200B)44.5%

Unknown24.5%

Mega (>$200B)19.9%

Mid ($2–10B)10.9%

Small ($300M–2B)0.2%

By region

North America75.6%

Other24.0%

Europe0.4%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	25.80%	47
Technology Hardware & Equipment	6.07%	7
Banks	5.69%	7
Construction & Engineering	4.53%	4
Machinery	4.33%	6
Insurance	4.15%	2
Specialty Retail	4.14%	4
Professional Services	3.71%	2
Utilities	3.48%	3
Pharmaceuticals & Biotechnology	3.37%	5
Automobiles & Components	3.15%	2
Semiconductors & Semiconductor Equipment	2.78%	5
Diversified Telecommunication Services	2.54%	1
Road & Rail	2.48%	2
Oil, Gas & Consumable Fuels	2.31%	3
Aerospace & Defense	2.17%	3
Chemicals	2.12%	3
Software & IT Services	1.77%	3
Health Care Providers & Services	1.70%	2
Transportation Infrastructure	1.66%	1
Capital Markets	1.58%	2
Paper & Forest Products	1.53%	1
Software	1.42%	2
Hotels, Restaurants & Leisure	1.27%	2
Food & Staples Retailing	1.07%	1
Distributors	0.95%	2
Equity Real Estate Investment Trusts (REITs)	0.92%	3
Leisure Products	0.79%	1
Metals & Mining	0.49%	2
Airlines	0.41%	2
Commercial Services & Supplies	0.40%	2
Food Products	0.38%	1
Electrical Equipment & Components	0.25%	1
Media & Entertainment	0.21%	1
Textiles, Apparel & Luxury Goods	0.20%	1
Entertainment	0.18%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	VZ	VERIZON COMMUNICATIONS INC	Communication Services	2.54%
2	ELV	Elevance Health, Inc.	Financials	2.45%
3	TOTL	SSGA ACTIVE ETF TR	Unclassified	2.26%
4	NEE	NEXTERA ENERGY INC	Utilities	2.25%
5	BAH	Booz Allen Hamilton Holding Corp	Industrials	2.22%
6	UPS	UNITED PARCEL SERVICE INC	Industrials	2.07%
7	JNJ	JOHNSON & JOHNSON	Health Care	1.96%
8	XLV	SELECT SECTOR SPDR TR	Unclassified	1.84%
9	AAPL	Apple Inc.	Information Technology	1.82%
10	BRK.B	BERKSHIRE HATHAWAY INC	Financials	1.81%

91/137 names classified · sector 76.0% of weight · industry 74.2% · mkt cap 75.5%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 17 quarters

IndustrialsBAH, UPS, DHI, ACN, UAL · other

Consumer DiscretionaryWMT, GM, CAH, TJX, LVS · other

Information TechnologyAAPL, IBM, WDC, NTAP, CSCO · other

FinancialsELV, BRK.B, C, NTRS, CNC · other

Health CareJNJ, ABT, GILD, MD, HCA · other

MaterialsCLX, CL, CSL, LYB, LPX · other

Consumer StaplesCVS, BUD, MKC, PEP, MO · other

Communication ServicesVZ, CMCSA, META, DIS, WLY · other

UtilitiesNEE, DUK, UGI, PNW, EPD · other

EnergySLB, HAL, XOM, PSX, CVX · other

Real EstateLAMR, CBRE, AAT, RLJ, CXW · other

UnclassifiedTOTL, ACTIVISION BLIZZARD INC, HEDJ, CHICAGO BRIDGE & IRON CO N V, HENDERSON EUROPEAN FOCUS FUND CL I · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 76.0% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2018-Q4), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (85 classified)Palo Capital, Inc. centroid (Mid Core)

IndustrialsInformation TechnologyConsumer DiscretionaryFinancialsHealth CareMaterialsCommunication ServicesUtilitiesEnergyConsumer StaplesReal Estate

Style box summary for Palo Capital, Inc.: centroid Mid Core. Heaviest cells: Large Value 19.0%, Large Core 11.0%, Mid Core 8.1%.

Classified: 71.9% of book weight (85/127 names) · unclassified 28.1%: , TOTL, XLV, BRK.B, CNC, BIV, VDE, SPY, SCHX, TGNA +32 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 137 positions (2018-Q4) · largest first · Δ vs 2018-Q3

#	Security	Shares	Value	Weight	Δ QoQ
1	VZVERIZON COMMUNICATIONS INC	106,368	$6M	2.5%	HOLD
2	ELVELEVANCE HEALTH INC FORMERLY	21,965	$6M	2.4%	HOLD
3	TOTLSSGA ACTIVE ETF TR	112,400	$5M	2.3%	TRIM −13%
4	NEENEXTERA ENERGY INC	30,448	$5M	2.2%	HOLD
5	BAHBOOZ ALLEN HAMILTON HLDG COR	115,811	$5M	2.2%	HOLD
6	UPSUNITED PARCEL SERVICE INC	50,019	$5M	2.1%	ADD 55%
7	JNJJOHNSON & JOHNSON	35,857	$5M	2.0%	HOLD
8	XLVSELECT SECTOR SPDR TR	50,014	$4M	1.8%	ADD 213%
9	AAPLAPPLE INC	27,163	$4M	1.8%	HOLD
10	BRK.BBERKSHIRE HATHAWAY INC DEL	20,916	$4M	1.8%	HOLD
11	WMTWALMART INC	45,740	$4M	1.8%	HOLD
12	GMGENERAL MTRS CO	124,423	$4M	1.8%	TRIM −5%
13	CVXCHEVRON CORP NEW	37,869	$4M	1.7%	NEW
14	CNCCENTENE CORP DEL	34,722	$4M	1.7%	HOLD
15	CHRWC H ROBINSON WORLDWIDE INC	46,613	$4M	1.7%	HOLD
16	HDHOME DEPOT INC	21,645	$4M	1.6%	HOLD
17	LPXLOUISIANA PAC CORP	162,603	$4M	1.5%	ADD 147%
18	DHID R HORTON INC	102,422	$4M	1.5%	HOLD
19	PAYXPAYCHEX INC	54,218	$4M	1.5%	HOLD
20	SYFSYNCHRONY FINANCIAL	141,265	$3M	1.4%	TRIM −3%
21	CCITIGROUP INC	62,890	$3M	1.4%	TRIM −5%
22	GNTXGENTEX CORP	160,714	$3M	1.4%	TRIM −3%
23	NTRSNORTHERN TR CORP	38,146	$3M	1.4%	HOLD
24	MORNMORNINGSTAR INC	28,714	$3M	1.3%	HOLD
25	XILINX INC	35,423	$3M	1.3%	TRIM −2%
26	CHECHEMED CORP NEW	10,124	$3M	1.2%	TRIM −2%
27	EMEEMCOR GROUP INC	46,852	$3M	1.2%	HOLD
28	CLXCLOROX CO DEL	17,405	$3M	1.1%	HOLD
29	JKHYHENRY JACK & ASSOC INC	21,089	$3M	1.1%	TRIM −2%
30	FFIVF5 INC	16,310	$3M	1.1%	HOLD
31	BIVVANGUARD BD INDEX FDS	32,420	$3M	1.1%	TRIM −23%
32	IBMINTERNATIONAL BUSINESS MACHS	22,952	$3M	1.1%	TRIM −27%
33	VDEVANGUARD WORLD FD	33,739	$3M	1.1%	NEW
34	TXNTEXAS INSTRS INC	27,057	$3M	1.1%	TRIM −2%
35	SNASNAP ON INC	17,411	$3M	1.1%	TRIM −5%
36	SPYSTATE STR SPDR S&P 500 ETF T	10,108	$3M	1.1%	ADD 67%
37	CVSCVS HEALTH CORP	38,445	$3M	1.1%	TRIM −2%
38	SCHXSCHWAB U.S. LARGE-CAP ETF	41,203	$2M	1.0%	ADD 66%
39	TGNATEGNA INC	223,527	$2M	1.0%	TRIM −10%
40	HIIHUNTINGTON INGALLS INDS INC	12,441	$2M	1.0%	TRIM −3%
41	MINTPIMCO ETF TR	22,757	$2M	1.0%	ADD 51%
42	AMC ENTMT HLDGS INC	181,062	$2M	0.9%	TRIM −18%
43	DOVDOVER CORP	31,005	$2M	0.9%	HOLD
44	NVRNVR INC	902	$2M	0.9%	TRIM −4%
45	PFEPFIZER INC	50,217	$2M	0.9%	ADD 2%
46	NTAPNetApp Inc.	36,376	$2M	0.9%	TRIM −26%
47	AGXARGAN INC	56,243	$2M	0.9%	TRIM −3%
48	DUKDUKE ENERGY CORP NEW	24,141	$2M	0.9%	HOLD
49	CMICUMMINS INC	15,422	$2M	0.9%	TRIM −4%
50	CRUSCIRRUS LOGIC INC	60,493	$2M	0.9%	TRIM −5%
51	SCHDSCHWAB STRATEGIC TR	42,473	$2M	0.8%	ADD 83%
52	MSFTMICROSOFT CORP	18,486	$2M	0.8%	HOLD
53	WFCWELLS FARGO CO NEW	40,543	$2M	0.8%	HOLD
54	HASHASBRO INC	22,915	$2M	0.8%	TRIM −3%
55	ITWILLINOIS TOOL WKS INC	14,650	$2M	0.8%	TRIM −2%
56	RSRELIANCE INC	26,004	$2M	0.8%	TRIM −3%
57	PFFISHARES TR	52,618	$2M	0.8%	NEW
58	JHMLJOHN HANCOCK EXCHANGE TRADED	55,834	$2M	0.8%	HOLD
59	BONDPIMCO ETF TR	17,389	$2M	0.8%	ADD 221%
60	WHWYNDHAM HOTELS & RESORTS INC	37,345	$2M	0.7%	TRIM −3%
61	SCHBSCHWAB STRATEGIC TR	26,854	$2M	0.7%	ADD 19%
62	XLESELECT SECTOR SPDR TR	27,855	$2M	0.7%	TRIM −58%
63	CLCOLGATE PALMOLIVE CO	25,836	$2M	0.7%	TRIM −3%
64	EAELECTRONIC ARTS INC	18,744	$1M	0.6%	TRIM −4%
65	BABOEING CO	4,274	$1M	0.6%	TRIM −3%
66	GDGENERAL DYNAMICS CORP	8,712	$1M	0.6%	ADD 3%
67	CSCOCISCO SYS INC	31,380	$1M	0.6%	HOLD
68	DRIDARDEN RESTAURANTS INC	13,029	$1M	0.6%	ADD 36%
69	COSTCOSTCO WHSL CORP NEW	6,303	$1M	0.5%	HOLD
70	FPEFirst Trust Preferred Secs & Inc ETF	70,804	$1M	0.5%	TRIM −55%
71	DGXQUEST DIAGNOSTICS INC	13,788	$1M	0.5%	ADD 2%
72	METAMETA PLATFORMS INC	8,652	$1M	0.5%	HOLD
73	DUNKIN BRANDS GROUP INC	17,374	$1M	0.5%	ADD 6%
74	INTCINTEL CORP	23,410	$1M	0.5%	HOLD
75	NUENUCOR CORP	21,109	$1M	0.5%	TRIM −18%
76	LAMRLAMAR ADVERTISING CO	14,773	$1M	0.4%	ADD 4%
77	QUALISHARES TR	12,948	$994,000	0.4%	HOLD
78	UNPUNION PAC CORP	6,971	$964,000	0.4%	ADD 4%
79	RSPINVESCO EXCHANGE TRADED FD T	10,536	$963,000	0.4%	HOLD
80	XLKSELECT SECTOR SPDR TR	15,471	$959,000	0.4%	HOLD
81	XOMEXXON MOBIL CORP	13,610	$928,000	0.4%	TRIM −26%
82	CRCRANE CO	12,551	$906,000	0.4%	ADD 3%
83	HSYHERSHEY CO	8,417	$902,000	0.4%	ADD 4%
84	BSVVANGUARD BD INDEX FDS	11,296	$888,000	0.4%	ADD 40%
85	PSAPUBLIC STORAGE OPER CO	4,336	$878,000	0.4%	TRIM −25%
86	THOMSON REUTERS CORP.	18,017	$870,000	0.4%	NEW
87	SLYVSPDR SERIES TRUST	16,054	$864,000	0.4%	HOLD
88	IVVISHARES TR	3,312	$833,000	0.4%	NEW
89	PNWPINNACLE WEST CAP CORP	9,667	$824,000	0.3%	ADD 3%
90	VEAVANGUARD TAX-MANAGED FDS	21,056	$781,000	0.3%	HOLD
91	SMGSCOTTS MIRACLE-GRO CO	12,500	$768,000	0.3%	TRIM −3%
92	KLACKLA CORP	8,539	$764,000	0.3%	ADD 6%
93	JACOBS ENGR GROUP INC DEL	11,569	$676,000	0.3%	HOLD
94	UALUNITED AIRLS HLDGS INC	7,874	$659,000	0.3%	HOLD
95	JPMJPMORGAN CHASE & CO	6,670	$651,000	0.3%	HOLD
96	ZBRAZEBRA TECHNOLOGIES CORPORATI	4,002	$637,000	0.3%	HOLD
97	EMREMERSON ELEC CO	9,871	$590,000	0.3%	HOLD
98	UNILEVER PLC	11,110	$580,000	0.2%	HOLD
99	NDAQNASDAQ INC	7,023	$573,000	0.2%	TRIM −18%
100	AXPAMERICAN EXPRESS CO	5,889	$561,000	0.2%	HOLD
101	BNYBANK NEW YORK MELLON CORP	11,610	$546,000	0.2%	ADD 3%
102	NVSNOVARTIS AG	6,223	$534,000	0.2%	TRIM −5%
103	STMSTMICROELECTRONICS N V	37,358	$519,000	0.2%	TRIM −15%
104	MAMASTERCARD INCORPORATED	2,734	$516,000	0.2%	TRIM −27%
105	JHMMJOHN HANCOCK EXCHANGE TRADED	16,458	$501,000	0.2%	HOLD
106	GTNGRAY MEDIA INC	33,677	$496,000	0.2%	ADD 9%
107	KSSKOHLS CORP	7,277	$483,000	0.2%	ADD 5%
108	PANWPALO ALTO NETWORKS INC	2,505	$472,000	0.2%	HOLD
109	TPRTAPESTRY INC	13,918	$470,000	0.2%	HOLD
110	ACNACCENTURE PLC IRELAND	3,032	$428,000	0.2%	HOLD
111	HOWARD HUGHES CORPORATION	4,350	$425,000	0.2%	HOLD
112	DISDISNEY WALT CO	3,764	$413,000	0.2%	TRIM −4%
113	OXYOCCIDENTAL PETE CORP	6,428	$395,000	0.2%	HOLD
114	MCKMCKESSON CORP	3,436	$380,000	0.2%	TRIM −16%
115	AVGOBROADCOM INC	1,443	$367,000	0.2%	TRIM −17%
116	GOOGALPHABET INC	346	$358,000	0.2%	HOLD
117	EPIWISDOMTREE TR	14,378	$357,000	0.2%	TRIM −19%
118	VHTVANGUARD WORLD FD	2,187	$351,000	0.1%	NEW
119	XLFSELECT SECTOR SPDR TR	14,307	$341,000	0.1%	ADD 69%
120	ACTIVISION BLIZZARD INC	7,246	$337,000	0.1%	ADD 7%
121	NIELSEN HLDGS PLC	14,401	$336,000	0.1%	TRIM −16%
122	MRKMERCK & CO INC	4,040	$309,000	0.1%	TRIM −7%
123	AALAMERICAN AIRLS GROUP INC	9,571	$307,000	0.1%	HOLD
124	RQICOHEN & STEERS QUALITY INCOM	29,400	$305,000	0.1%	NEW
125	GLDSPDR GOLD TR	2,400	$291,000	0.1%	HOLD
126	ABBVABBVIE INC	3,070	$283,000	0.1%	HOLD
127	MPTMEDICAL PPTYS TRUST INC	17,096	$275,000	0.1%	HOLD
128	XLISELECT SECTOR SPDR TR	4,204	$271,000	0.1%	HOLD
129	BNDXVANGUARD CHARLOTTE FDS	4,802	$261,000	0.1%	HOLD
130	TAILORED BRANDS INC	18,085	$247,000	0.1%	HOLD
131	XEFLXEaton Vance Floating Rate	28,000	$240,000	0.1%	NEW
132	VIGVANGUARD SPECIALIZED FUNDS	2,331	$228,000	0.1%	NEW
133	DGROISHARES CORE DIVIDEND GROWTH ETF	6,710	$223,000	0.1%	NEW
134	UNITED TECHNOLOGIES CORP	2,022	$215,000	0.1%	TRIM −85%
135	DGRWWISDOMTREE TR	5,559	$213,000	0.1%	NEW
136	ARCCARES CAPITAL CORP	10,200	$159,000	0.1%	NEW
137	GSMFERROGLOBE PLC	34,604	$55,000	0.0%	TRIM −16%

☆Palo Capital, Inc.