SPECTRUM ADVISORY SERVICES INC

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CIK 884310

13F portfolio (2016-Q1)

$255M

Positions

149

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2015-Q4. 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 (2016-Q1)

Holdings

149

Top 5

14.9%

Top 10

26.0%

Effective N

72.6

HHI

0.014

This quarter

7 new · 0 exit →

By sector

Unclassified30.7%

Industrials16.1%

Information Technology11.6%

Consumer Discretionary11.0%

Consumer Staples6.2%

Health Care5.3%

Materials5.3%

Financials4.3%

Other9.5%

By market cap

Large ($10–200B)41.2%

Unknown33.6%

Mega (>$200B)18.0%

Mid ($2–10B)5.6%

Small ($300M–2B)1.2%

Micro (<$300M)0.4%

By region

North America68.2%

Other30.7%

Europe0.6%

Asia-Pacific0.4%

Africa0.2%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	30.66%	57
Machinery	7.81%	5
Technology Hardware & Equipment	6.49%	4
Specialty Retail	5.83%	6
Health Care Equipment & Supplies	5.01%	3
Chemicals	4.60%	5
Beverages	4.23%	3
Distributors	4.03%	4
Pharmaceuticals & Biotechnology	3.53%	6
Oil, Gas & Consumable Fuels	3.41%	8
Equity Real Estate Investment Trusts (REITs)	2.83%	2
Software & IT Services	2.37%	4
Electrical Equipment & Components	2.37%	2
Insurance	2.15%	4
Banks	2.13%	5
Commercial Services & Supplies	1.99%	3
Road & Rail	1.82%	1
Food Products	1.36%	4
Semiconductors & Semiconductor Equipment	1.19%	2
Hotels, Restaurants & Leisure	0.99%	1
Aerospace & Defense	0.82%	2
Software	0.72%	1
Paper & Forest Products	0.59%	1
Diversified Telecommunication Services	0.49%	2
Media & Publishing	0.45%	1
Media & Entertainment	0.35%	1
Food & Staples Retailing	0.35%	2
Entertainment	0.31%	1
Tobacco	0.27%	2
Marine	0.23%	1
Transportation Infrastructure	0.13%	1
Utilities	0.13%	1
Automobiles & Components	0.11%	1
Construction & Engineering	0.11%	1
Construction Materials	0.08%	1
Household Durables	0.06%	1

Top holdings

#	Ticker	Name	Sector	Weight
1		VALSPAR CORP	Unclassified	3.39%
2	MMM	3M CO	Industrials	3.24%
3	DHR	DANAHER CORP /DE/	Information Technology	2.88%
4	GGG	GRACO INC	Industrials	2.76%
5		Berkshire Hathaway Inc	Unclassified	2.62%
6		Berkshire Hathaway Inc Class A	Unclassified	2.59%
7	WY	WEYERHAEUSER CO	Real Estate	2.26%
8	KO	COCA COLA CO	Consumer Staples	2.12%
9	IBM	INTERNATIONAL BUSINESS MACHINES CORP	Information Technology	2.11%
10	PPG	PPG INDUSTRIES INC	Materials	2.05%

92/149 names classified · sector 69.3% of weight · industry 69.3% · mkt cap 66.4%; unclassified names shown, never dropped.

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

top 5/sector, rest → “Other” · 12 quarters

IndustrialsMMM, GGG, ETN, UPS, ZBRA · other

Information TechnologyIBM, DHR, GE, CSCO, EMR · other

Consumer DiscretionaryHD, LOW, AVT, GPC, TEL · other

Consumer StaplesKO, PEP, COKE, CPB, ADM · other

Health CareJNJ, SYK, NVS, EW, BDX · other

FinancialsUSB, AON, BRK.B, WTM, BNS · other

MaterialsPPG, PG, CL, KMB, CBT · other

EnergyXOM, RES, PSX, COP, CVX · other

Communication ServicesWLY, SKM, RDI, GOOG, GOOGL · other

Real EstateEGP, WY, EARN

UtilitiesWMB, NWE, OKE, SO, D

UnclassifiedVALSPAR CORP, RAVEN INDS INC, PLUM CREEK TIMBER CO INC, Berkshire Hathaway Inc, Berkshire Hathaway Inc Class A · 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: 69.3% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2016-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (79 classified)SPECTRUM ADVISORY SERVICES INC centroid (Mid Core)

IndustrialsInformation TechnologyConsumer DiscretionaryMaterialsConsumer StaplesHealth CareFinancialsEnergyReal EstateCommunication ServicesUtilities

Style box summary for SPECTRUM ADVISORY SERVICES INC: centroid Mid Core. Heaviest cells: Large Value 19.4%, Large Core 14.2%, Large Growth 7.4%.

Classified: 65.7% of book weight (79/103 names) · unclassified 34.3%: , COKE, NVS, SOMLF, GVDBF, NVO, RDI, SKM, LSAK, RY +14 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· 149 positions (2016-Q1) · largest first · Δ vs 2015-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	VALSPAR CORP	80,700	$9M	3.4%	TRIM −19%
2	MMM3M CO	49,676	$8M	3.2%	HOLD
3	DHRDANAHER CORP DEL	77,389	$7M	2.9%	HOLD
4	GGGGRACO INC	83,862	$7M	2.8%	HOLD
5	Berkshire Hathaway Inc	47,107	$7M	2.6%	HOLD
6	Berkshire Hathaway Inc Class A	31	$7M	2.6%	HOLD
7	WYWEYERHAEUSER CO	186,214	$6M	2.3%	NEW
8	KOCOCA COLA CO	116,555	$5M	2.1%	HOLD
9	IBMINTERNATIONAL BUSINESS MACHS	35,524	$5M	2.1%	TRIM −3%
10	PPGPPG INDS INC	46,850	$5M	2.0%	HOLD
11	HDHOME DEPOT INC	38,185	$5M	2.0%	HOLD
12	UPSUNITED PARCEL SERVICE INC	44,037	$5M	1.8%	HOLD
13	LINEAR TECHNOLOGY CORP	92,811	$4M	1.6%	ADD 3%
14	ITWILLINOIS TOOL WKS INC	39,570	$4M	1.6%	TRIM −2%
15	Becton, Dickinson and Company	26,368	$4M	1.6%	TRIM −2%
16	Alleghany Corp	7,952	$4M	1.5%	TRIM −3%
17	LOWLOWES COS INC	49,999	$4M	1.5%	TRIM −6%
18	GEGENERAL ELECTRIC CO	115,550	$4M	1.4%	TRIM −5%
19	JNJJOHNSON & JOHNSON	32,238	$3M	1.4%	HOLD
20	ETNEATON CORP PLC	55,478	$3M	1.4%	TRIM −7%
21	XOMEXXON MOBIL CORP	41,140	$3M	1.3%	HOLD
22	PGPROCTER AND GAMBLE CO	39,239	$3M	1.3%	HOLD
23	PEPPEPSICO INC	30,942	$3M	1.2%	HOLD
24	ZBRAZEBRA TECHNOLOGIES CORPORATI	44,883	$3M	1.2%	TRIM −3%
25	AVTAvnet Inc	69,765	$3M	1.2%	HOLD
26	GPCGENUINE PARTS CO	30,777	$3M	1.2%	HOLD
27	RAVEN INDS INC	190,627	$3M	1.2%	TRIM −3%
28	Apple Computer	27,835	$3M	1.2%	ADD 4%
29	USBUS BANCORP	69,334	$3M	1.1%	HOLD
30	BOFI HOLDING INC	129,842	$3M	1.1%	TRIM −4%
31	AONAON PLC	24,687	$3M	1.0%	HOLD
32	MCDMCDONALDS CORP	20,188	$3M	1.0%	TRIM −8%
33	COSTCOSTCO WHSL CORP NEW	16,080	$3M	1.0%	TRIM −2%
34	DSM BV	45,681	$3M	1.0%	TRIM −3%
35	GPNGLOBAL PMTS INC	38,285	$3M	1.0%	TRIM −7%
36	TELTE CONNECTIVITY LTD	40,305	$2M	1.0%	HOLD
37	EMREMERSON ELEC CO	43,450	$2M	0.9%	HOLD
38	SYKSTRYKER CORPORATION	22,023	$2M	0.9%	TRIM −4%
39	CLCOLGATE PALMOLIVE CO	33,275	$2M	0.9%	HOLD
40	EFXEQUIFAX INC	20,499	$2M	0.9%	TRIM −3%
41	GOOGALPHABET INC	3,053	$2M	0.9%	HOLD
42	LECOLINCOLN ELEC HLDGS INC	38,496	$2M	0.9%	TRIM −3%
43	COKECOCA COLA CONS INC	13,867	$2M	0.9%	HOLD
44	EWEDWARDS LIFESCIENCES CORP	24,274	$2M	0.8%	HOLD
45	BED BATH & BEYOND INC	43,050	$2M	0.8%	HOLD
46	WTMWHITE MTNS INS GROUP LTD	2,577	$2M	0.8%	HOLD
47	CSCOCISCO SYS INC	71,919	$2M	0.8%	HOLD
48	TYCO INTL PLC	53,544	$2M	0.8%	HOLD
49	AAPADVANCE AUTO PARTS INC	12,076	$2M	0.8%	TRIM −5%
50	BANK N S HALIFAX	38,350	$2M	0.7%	HOLD
51	MSFTMICROSOFT CORP	33,272	$2M	0.7%	HOLD
52	CPBTHE CAMPBELLS COMPANY	27,954	$2M	0.7%	HOLD
53	AYIACUITY INC	8,164	$2M	0.7%	HOLD
54	ST JUDE MED INC	32,019	$2M	0.7%	HOLD
55	CLARCOR INC	30,028	$2M	0.7%	HOLD
56	GOOGLALPHABET INC	2,250	$2M	0.7%	HOLD
57	CAHCARDINAL HEALTH INC	20,028	$2M	0.6%	HOLD
58	TIFFANY & CO NEW	21,769	$2M	0.6%	HOLD
59	TXNTEXAS INSTRS INC	27,736	$2M	0.6%	HOLD
60	Northeast Bancorp	142,344	$2M	0.6%	HOLD
61	KMBKIMBERLY-CLARK CORP	11,193	$2M	0.6%	HOLD
62	GLAXOSMITHKLINE PLC	36,618	$1M	0.6%	TRIM −3%
63	PFEPFIZER INC	49,195	$1M	0.6%	HOLD
64	NVSNOVARTIS AG	19,927	$1M	0.6%	HOLD
65	INTCINTEL CORP	44,597	$1M	0.6%	HOLD
66	EGPEASTGROUP PPTYS INC	23,870	$1M	0.6%	HOLD
67	BMYBRISTOL-MYERS SQUIBB CO	21,009	$1M	0.5%	HOLD
68	PSXPHILLIPS 66	15,397	$1M	0.5%	HOLD
69	SOMLFSECOM CO LTD	17,650	$1M	0.5%	TRIM −2%
70	GVDBFGivaudan SA Ord	654	$1M	0.5%	HOLD
71	ADPAutomatic Data Processing	13,384	$1M	0.5%	TRIM −13%
72	NOCNORTHROP GRUMMAN CORP	6,030	$1M	0.5%	HOLD
73	SUNTRUST BKS INC	32,868	$1M	0.5%	HOLD
74	RESRPC INC	81,111	$1M	0.5%	TRIM −6%
75	WLYWILEY JOHN & SONS INC	23,283	$1M	0.4%	TRIM −4%
76	SYNOVUS FINL CORP	37,851	$1M	0.4%	HOLD
77	NVONOVO-NORDISK A S	20,000	$1M	0.4%	HOLD
78	WMTWALMART INC	15,672	$1M	0.4%	TRIM −8%
79	COLONY CAP INC	61,728	$1M	0.4%	HOLD
80	E M C CORP MASS	37,227	$992,000	0.4%	HOLD
81	MTBM & T BK CORP	8,620	$957,000	0.4%	HOLD
82	CVXCHEVRON CORP NEW	9,502	$906,000	0.4%	ADD 2%
83	RDIREADING INTL INC	75,285	$902,000	0.4%	TRIM −5%
84	WALGREENS BOOTS ALLIANCE INC	10,663	$898,000	0.4%	TRIM −6%
85	PIIPOLARIS INC	9,100	$896,000	0.4%	ADD 5%
86	TOTAL SYS SVCS INC	18,234	$868,000	0.3%	HOLD
87	VRSKVERISK ANALYTICS INC	10,671	$853,000	0.3%	HOLD
88	DISDISNEY WALT CO	8,000	$794,000	0.3%	HOLD
89	HSYHERSHEY CO	8,523	$785,000	0.3%	TRIM −4%
90	FOREST CITY RLTY TR INC	36,137	$762,000	0.3%	NEW
91	COPCONOCOPHILLIPS	17,993	$725,000	0.3%	HOLD
92	SKMSK TELECOM LTD	35,363	$713,000	0.3%	TRIM −27%
93	NATIONAL WESTN LIFE GROUP IN	2,905	$670,000	0.3%	HOLD
94	LSAKLESAKA TECHNOLOGIES INC	72,573	$668,000	0.3%	HOLD
95	EIDPINC	6,300	$658,000	0.3%	HOLD
96	SILVER WHEATON CORP	38,700	$642,000	0.3%	HOLD
97	Bank Of America Corporation	44,607	$603,000	0.2%	HOLD
98	KEXKIRBY CORP	9,650	$582,000	0.2%	ADD 21%
99	LEUCADIA NATL CORP	35,488	$574,000	0.2%	TRIM −7%
100	RYROYAL BK CDA	9,763	$562,000	0.2%	TRIM −2%
101	ANADARKO PETE CORP	11,600	$540,000	0.2%	TRIM −30%
102	VZVERIZON COMMUNICATIONS INC	9,972	$539,000	0.2%	HOLD
103	AFLAFLAC	8,432	$532,000	0.2%	TRIM −3%
104	BB&T CORPORATION	15,666	$521,000	0.2%	HOLD
105	ADMARCHER-DANIELS-MIDLAND CO	14,155	$514,000	0.2%	HOLD
106	QIAGEN NV	22,703	$507,000	0.2%	HOLD
107	CBTCABOT CORP	10,478	$506,000	0.2%	HOLD
108	IMKTAINGLES MKTS INC	13,164	$494,000	0.2%	HOLD
109	DVNDEVON ENERGY CORP NEW	17,432	$478,000	0.2%	ADD 11%
110	TIME WARNER INC	6,468	$469,000	0.2%	HOLD
111	PMPHILIP MORRIS INTL INC	4,602	$452,000	0.2%	HOLD
112	FASTFASTENAL CO	9,000	$441,000	0.2%	ADD 8%
113	WFCWELLS FARGO CO NEW	9,072	$439,000	0.2%	HOLD
114	SSLSASOL LTD	14,500	$428,000	0.2%	HOLD
115	SCLSTEPAN CO	7,605	$420,000	0.2%	HOLD
116	WMKWEIS MKTS INC	8,915	$402,000	0.2%	HOLD
117	SJMSMUCKER J M CO	2,957	$384,000	0.2%	HOLD
118	VOLVFVolvo Ab-B Shs	34,065	$375,000	0.1%	NEW
119	EXPDEXPEDITORS INTL WASH INC	6,831	$333,000	0.1%	TRIM −7%
120	NWENORTHWESTERN ENERGY GROUP IN	5,200	$321,000	0.1%	HOLD
121	MKLMARKEL GROUP INC	357	$318,000	0.1%	HOLD
122	SOMLYSECOM CO LTD UNSP ADR	16,539	$306,000	0.1%	HOLD
123	TUPPERWARE BRANDS CORP	5,039	$292,000	0.1%	HOLD
124	AHEXFAdecco Group AG	4,500	$292,000	0.1%	HOLD
125	HMCHONDA MOTOR LTD	10,500	$287,000	0.1%	HOLD
126	DHID R HORTON INC	9,400	$284,000	0.1%	HOLD
127	Agco Corp	5,552	$276,000	0.1%	TRIM −19%
128	MOALTRIA GROUP INC	3,842	$241,000	0.1%	HOLD
129	SUSUNCOR ENERGY INC NEW	8,350	$232,000	0.1%	HOLD
130	NEUROTROPE, INC	430,734	$224,000	0.1%	HOLD
131	Questar Corporation	9,042	$224,000	0.1%	NEW
132	WUWESTERN UN CO	11,450	$221,000	0.1%	TRIM −4%
133	ROYAL DSM NV SPONSORED NETHERLAN ADR	15,897	$219,000	0.1%	HOLD
134	DU PONT E I DE NEMOURS & CO	3,319	$210,000	0.1%	HOLD
135	MLMMARTIN MARIETTA MATLS INC	1,300	$207,000	0.1%	NEW
136	BP PLC SPONSORED	6,711	$203,000	0.1%	NEW
137	Prudential PLC	7,800	$203,000	0.1%	TRIM −9%
138	NOBLE CORP PLC	19,130	$198,000	0.1%	TRIM −3%
139	OPKOPKO HEALTH INC	18,700	$194,000	0.1%	HOLD
140	JOFJAPAN SMALLER CAPITALIZATION	19,453	$188,000	0.1%	HOLD
141	SLRCSLR INVESTMENT CORP	10,750	$186,000	0.1%	HOLD
142	KPELFKeppel Corp Ltd New Ordf	40,150	$174,000	0.1%	HOLD
143	CODICOMPASS DIVERSIFIED	10,279	$161,000	0.1%	NEW
144	IBNICICI BANK LIMITED	22,497	$161,000	0.1%	ADD 125%
145	NOBLE GROUP LTD ORD	369,400	$120,000	0.0%	HOLD
146	CDI CORP	18,585	$117,000	0.0%	TRIM −2%
147	MPXMARINE PRODS CORP	14,144	$107,000	0.0%	HOLD
148	COMPUTER TASK GROUP INC	13,310	$68,000	0.0%	HOLD
149	FRASERS CENTREPOINT	11,842	$14,000	0.0%	HOLD

☆SPECTRUM ADVISORY SERVICES INC