McQueen, Ball & Associates Inc.

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CIK 1663138

13F portfolio (2018-Q4)

$156M

Positions

113

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

113

Top 5

23.6%

Top 10

35.1%

Effective N

45.6

HHI

0.022

This quarter

7 new · 0 exit →

By sector

Unclassified29.8%

Financials12.8%

Information Technology12.3%

Health Care9.8%

Consumer Discretionary8.8%

Utilities6.1%

Communication Services5.1%

Industrials4.5%

Other10.7%

By market cap

Large ($10–200B)40.8%

Unknown30.7%

Mega (>$200B)24.0%

Mid ($2–10B)4.1%

Small ($300M–2B)0.5%

By region

North America70.2%

Other29.8%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	30.72%	43
Pharmaceuticals & Biotechnology	7.67%	5
Utilities	6.15%	3
Insurance	6.05%	10
Technology Hardware & Equipment	5.72%	2
Banks	4.88%	6
Specialty Retail	4.44%	6
Health Care Equipment & Supplies	3.82%	2
Software & IT Services	3.65%	5
Distributors	3.49%	4
Semiconductors & Semiconductor Equipment	3.27%	2
Beverages	2.66%	2
Chemicals	2.59%	2
Oil, Gas & Consumable Fuels	2.58%	4
Diversified Telecommunication Services	2.48%	2
Road & Rail	1.64%	1
Entertainment	1.60%	1
Metals & Mining	1.49%	3
Equity Real Estate Investment Trusts (REITs)	1.22%	2
Automobiles & Components	0.90%	1
Capital Markets	0.84%	1
Airlines	0.83%	1
Software	0.71%	2
Commercial Services & Supplies	0.47%	2
Tobacco	0.13%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	VV	VANGUARD INDEX FDS	Unclassified	6.45%
2	TRGP	Targa Resources Corp.	Utilities	5.63%
3	VEU	VANGUARD INTL EQUITY INDEX F	Unclassified	4.84%
4	AAPL	Apple Inc.	Information Technology	3.77%
5	VXUS	VANGUARD STAR FDS	Unclassified	2.96%
6	JPM	JPMORGAN CHASE & CO	Financials	2.51%
7	INTC	INTEL CORP	Information Technology	2.34%
8	JNJ	JOHNSON & JOHNSON	Health Care	2.28%
9	ABT	ABBOTT LABORATORIES	Health Care	2.17%
10	BDX	BECTON DICKINSON & CO	Health Care	2.16%

71/113 names classified · sector 70.2% of weight · industry 69.3% · mkt cap 69.3%; unclassified names shown, never dropped.

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

top 5/sector, rest → “Other” · 13 quarters

Information TechnologyAAPL, INTC, ADP, CSCO, GE · other

FinancialsJPM, WTM, TRV, AXP, SCHW · other

Health CareJNJ, BDX, ABT, PFE, AMGN · other

Consumer DiscretionaryLOW, ORLY, POOL, GWW, MCK · other

UtilitiesTRGP, KMI, PPL, SO

Communication ServicesT, DIS, VZ, GOOGL, GOOG · other

IndustrialsMMM, NSC, FDX, BR, CAT · other

MaterialsFCX, PG, APD, CLX, NWL · other

EnergyXOM, SLB, ENB, CVX

Consumer StaplesPEP, KO, PM, MO

Real EstateWELL, STRS, SKT

UnclassifiedVEU, VV, GENERAL MOLY INC COM, VXUS, Apple Computer · 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: 70.2% 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 (67 classified)McQueen, Ball & Associates Inc. centroid (Large Core)

Information TechnologyFinancialsHealth CareConsumer DiscretionaryUtilitiesCommunication ServicesIndustrialsMaterialsConsumer StaplesEnergyReal Estate

Style box summary for McQueen, Ball & Associates Inc.: centroid Large Core. Heaviest cells: Large Core 21.7%, Large Value 19.3%, Large Growth 8.4%.

Classified: 68.2% of book weight (67/97 names) · unclassified 31.8%: VV, VEU, , VXUS, VTI, ILCG, VO, VFIAX, BIP, VCSH +20 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· 113 positions (2018-Q4) · largest first · Δ vs 2018-Q3

#	Security	Shares	Value	Weight	Δ QoQ
1	VVVANGUARD INDEX FDS	87,357	$10M	6.4%	HOLD
2	TRGPTARGA RES CORP	243,111	$9M	5.6%	HOLD
3	VEUVANGUARD INTL EQUITY INDEX F	165,309	$8M	4.8%	HOLD
4	AAPLAPPLE INC	37,245	$6M	3.8%	HOLD
5	VXUSVANGUARD STAR FDS	97,454	$5M	3.0%	ADD 266%
6	JPMJPMORGAN CHASE & CO	39,977	$4M	2.5%	HOLD
7	INTCINTEL CORP	77,503	$4M	2.3%	HOLD
8	JNJJOHNSON & JOHNSON	27,485	$4M	2.3%	HOLD
9	ABTABBOTT LABS	46,776	$3M	2.2%	HOLD
10	BDXBECTON DICKINSON & CO	14,913	$3M	2.2%	HOLD
11	LOWLOWES COS INC	34,294	$3M	2.0%	HOLD
12	ADPAUTOMATIC DATA PROCESSING IN	23,411	$3M	2.0%	HOLD
13	CSCOCISCO SYS INC	69,903	$3M	1.9%	HOLD
14	WTMWHITE MTNS INS GROUP LTD	3,361	$3M	1.9%	HOLD
15	VTIVANGUARD INDEX FDS	20,543	$3M	1.7%	HOLD
16	MMM3M CO	13,602	$3M	1.7%	HOLD
17	PFEPFIZER INC	59,244	$3M	1.7%	HOLD
18	NSCNORFOLK SOUTHN CORP	17,036	$3M	1.6%	HOLD
19	DISDISNEY WALT CO	22,747	$2M	1.6%	HOLD
20	PGPROCTER AND GAMBLE CO	24,863	$2M	1.5%	HOLD
21	ORLYOREILLY AUTOMOTIVE INC	6,600	$2M	1.5%	HOLD
22	PEPPEPSICO INC	20,407	$2M	1.4%	HOLD
23	AXPAMERICAN EXPRESS CO	22,686	$2M	1.4%	HOLD
24	TRVTRAVELERS COMPANIES INC	18,025	$2M	1.4%	HOLD
25	AMGNAMGEN INC	11,055	$2M	1.4%	HOLD
26	POOLPOOL CORP	14,444	$2M	1.4%	HOLD
27	ILCGISHARES TR	13,055	$2M	1.3%	HOLD
28	FCXFREEPORT MCMORAN INC	196,667	$2M	1.3%	TRIM −6%
29	TAT&T INC	69,853	$2M	1.3%	HOLD
30	VOVANGUARD INDEX FDS	14,035	$2M	1.2%	HOLD
31	KOCOCA COLA CO	39,922	$2M	1.2%	HOLD
32	VZVERIZON COMMUNICATIONS INC	33,334	$2M	1.2%	HOLD
33	GWWWW GRAINGER INC	6,337	$2M	1.1%	HOLD
34	UNITED TECHNOLOGIES CORP	16,604	$2M	1.1%	HOLD
35	VFIAXVANGUARD 500 INDEX ADMIRAL	7,623	$2M	1.1%	NEW
36	APDAIR PRODS & CHEMS INC	10,879	$2M	1.1%	HOLD
37	WELLWELLTOWER INC	23,840	$2M	1.1%	HOLD
38	BIPBROOKFIELD INFRAST PARTNERS	47,514	$2M	1.1%	HOLD
39	VCSHVANGUARD SCOTTSDALE FDS	20,135	$2M	1.0%	TRIM −4%
40	XOMEXXON MOBIL CORP	22,534	$2M	1.0%	HOLD
41	ADIANALOG DEVICES INC	16,951	$1M	0.9%	TRIM −5%
42	BRK.BBERKSHIRE HATHAWAY INC DEL	6,870	$1M	0.9%	TRIM −2%
43	GMGENERAL MTRS CO	41,790	$1M	0.9%	HOLD
44	ENBENBRIDGE INC	43,944	$1M	0.9%	HOLD
45	SCHWSCHWAB CHARLES CORP	31,437	$1M	0.8%	TRIM −3%
46	FDXFEDEX CORP	7,999	$1M	0.8%	HOLD
47	MCKMCKESSON CORP	11,623	$1M	0.8%	TRIM −5%
48	VUGVANGUARD INDEX FDS	8,456	$1M	0.7%	TRIM −8%
49	GLDSPDR GOLD TR	8,543	$1M	0.7%	HOLD
50	JKHYHENRY JACK & ASSOC INC	7,985	$1M	0.6%	HOLD
51	MSFTMICROSOFT CORP	9,841	$1M	0.6%	ADD 3%
52	ALLALLSTATE CORP	11,608	$959,000	0.6%	ADD 111%
53	SPYSTATE STR SPDR S&P 500 ETF T	3,360	$840,000	0.5%	HOLD
54	EGEVEREST GROUP LTD	3,795	$826,000	0.5%	HOLD
55	VOTVANGUARD INDEX FDS	6,545	$783,000	0.5%	HOLD
56	AMZNAMAZON COM INC	470	$706,000	0.5%	HOLD
57	SLBSCHLUMBERGER LTD	19,027	$686,000	0.4%	TRIM −3%
58	VBRVANGUARD INDEX FDS	5,969	$681,000	0.4%	HOLD
59	GOOGLALPHABET INC	604	$631,000	0.4%	HOLD
60	WRBBERKLEY W R CORP	8,420	$622,000	0.4%	HOLD
61	LUMINEX CORP	26,594	$615,000	0.4%	HOLD
62	ARGO GROUP INTL HLDGS LTD	9,149	$615,000	0.4%	HOLD
63	CBCHUBB LIMITED	4,680	$605,000	0.4%	HOLD
64	GOOGALPHABET INC	548	$568,000	0.4%	HOLD
65	KMPRKEMPER CORP	8,250	$548,000	0.4%	HOLD
66	KMIKINDER MORGAN INC DEL	35,555	$547,000	0.4%	TRIM −5%
67	SYBTSTOCK YDS BANCORP INC	16,570	$543,000	0.3%	HOLD
68	IVVISHARES TR	2,102	$529,000	0.3%	HOLD
69	BRBROADRIDGE FINL SOLUTIONS IN	5,418	$521,000	0.3%	HOLD
70	DOWDUPONT INC	9,014	$482,000	0.3%	HOLD
71	FRFHFFAIRFAX FINL HLDGS LTD SUB VTG ISIN CA3039011026	1,044	$460,000	0.3%	HOLD
72	BACBANK AMERICA CORP	18,154	$447,000	0.3%	ADD 6%
73	VWOVANGUARD INTL EQUITY INDEX F	11,629	$443,000	0.3%	HOLD
74	CVXCHEVRON CORP NEW	3,995	$435,000	0.3%	HOLD
75	ASPEN INSURANCE HOLDINGS LTD	9,825	$413,000	0.3%	HOLD
76	METAMETA PLATFORMS INC	3,068	$402,000	0.3%	HOLD
77	BSVVANGUARD BD INDEX FDS	5,050	$397,000	0.3%	TRIM −7%
78	QQQINVESCO QQQ TR	2,187	$337,000	0.2%	HOLD
79	GRACE W R & CO DEL NEW	5,000	$325,000	0.2%	HOLD
80	AIGAMERICAN INTL GROUP INC	7,884	$311,000	0.2%	HOLD
81	UNHUNITEDHEALTH GROUP INC	1,166	$290,000	0.2%	HOLD
82	PFSPROVIDENT FINL SVCS INC	11,592	$280,000	0.2%	HOLD
83	ZTSZOETIS INC	3,216	$275,000	0.2%	HOLD
84	HDHOME DEPOT INC	1,587	$273,000	0.2%	HOLD
85	COSTCOSTCO WHSL CORP NEW	1,319	$269,000	0.2%	HOLD
86	PPLPPL CORP	9,412	$267,000	0.2%	ADD 28%
87	CCITIGROUP INC	4,915	$256,000	0.2%	HOLD
88	HARRIS CORP DEL	1,838	$248,000	0.2%	HOLD
89	GCP APPLIED TECHNOLOGIES INC	10,000	$246,000	0.2%	HOLD
90	NSRGYNESTLE S A SPONSORED ADR	3,014	$244,000	0.2%	HOLD
91	SKTTANGER INC	12,055	$244,000	0.2%	HOLD
92	NUSTAR ENERGY LP	11,518	$241,000	0.2%	ADD 3%
93	TURQUOISE HILL RESOURCES LTD	143,725	$237,000	0.2%	HOLD
94	NEMNEWMONT CORP	6,617	$229,000	0.1%	NEW
95	WMTWALMART INC	2,388	$223,000	0.1%	HOLD
96	TELTE CONNECTIVITY LTD	2,830	$214,000	0.1%	HOLD
97	SIGISELECTIVE INS GROUP INC	3,450	$210,000	0.1%	HOLD
98	VVISA INC	1,584	$209,000	0.1%	ADD 7%
99	PMPHILIP MORRIS INTL INC	3,026	$202,000	0.1%	HOLD
100	SLVISHARES SILVER TR	13,400	$195,000	0.1%	HOLD
101	PROTECTIVE INS CORP	10,156	$169,000	0.1%	NEW
102	DDD3-D SYS CORP DEL	10,725	$109,000	0.1%	HOLD
103	HIGHPOINT RES CORP	29,690	$74,000	0.0%	HOLD
104	LACLITHIUM AMERICAS CORP COM	20,000	$63,000	0.0%	HOLD
105	CRYSTAL PEAK MINERALS INC COM	451,706	$52,000	0.0%	HOLD
106	ATLANTIC POWER CORP	15,105	$33,000	0.0%	HOLD
107	SOLGOLD PLC SHS	40,930	$19,000	0.0%	NEW
108	ECAOFE O G Resources Inc	31,169	$16,000	0.0%	HOLD
109	GENERAL MOLY INC COM	36,377	$8,000	0.0%	TRIM −23%
110	CANNABIS SCIENCE INC XXX	20,000	$1,000	0.0%	NEW
111	HEMPHEMP INC	10,000	$1,000	0.0%	NEW
112	MJNAMedical Marijuana Inc	10,000	$1,000	0.0%	NEW
113	NUSMFNAUTILUS M	16,772	$1,000	0.0%	HOLD

☆McQueen, Ball & Associates Inc.