EFTA01459060.pdf

Figure 8: S&P 500 Advised Sector and Industry Allocation (2014/15 PE based o )O8 US Equity Suatt70y top down soctot andIndustry EPS astinotesi C cn 0 Wren Afreed _0, 5 -003 2015 2016 20:5 :015 m Z N..,..)It .10 \Neght..k.! S.?. . I£ FE Oanvoloht FE FE Equatwolont IT Fl ..fr',.rn. ;", .0 0 : 2.;,hnelaev • 3 - -. th Care Equernent a Sem ," , . -1- :re Technology • g a= 0 • — ./. ,0tware Stomp, '. - • • , st•Ino & Sown .:,ncluctets uo 0,... • • •Argabom Egucattea nx JP: - - ;cc Eaugelett . ,ii Markers ' ' 2°• - . • -er Cr-sr..-xt 34% :Atte, -re ndent Paget Producers .0-..thate 13D cecommuwaeon Swan 126 :30 AinConsonwits 13/ 127 fl arsth91Ceraornor Sevoss 183 it N../ om51:4011 96 92 Hetet Flostatraola /1Inure 260 7: - I .,a>01 126 182 74448. ADD** 6 Lamy Cx)04N 236 21 r 'cid Da41:44 166 147 Est i 3 os 21.2 200 end , Poblel 14.6 138 r - , naiad 21.1 194 €0 7 646 na UO 176 tearer, 231 229 7.,c'd Products 21 3 204 :..9 5 .O'1. .nc.."313 PrOduCt$ 206 200 , `nal ROdUCtS 27 7 24 2 203 206 Aahree 177 167 -. 6 9 137 137 . ,. , . • . . 163 163 16.8 166 . L::03,,,Tor.te: 230 165 ISO w". tot :oat Sinices 201 • • • •9 Garvin's & De0bAoes 167 169 159 , r.:45 17.3 155 1Consut.cdenMerin 458 320 Ceetenete & Package0 181 164 17.9 167 Metals & MiIng 263 166 Cul SawinOog 4ueg apSinaa ref &Forest Protium II 0 I1.0 - -0,07EqJpmerr & Senncet :02 229 of pea & COna id- -.0.. raps ?O6 236 0020regate PE or DB Industry • ocatom Oarenaylabi 166 140 Egualwel0ht 18.5 17.4 Jr-CArAfp j ^l 20158 2016 De Strategy EPS 119.0 1250 2015 & 3018 De Strategy PE 17.5 166 S&P 5C0 Index 2521.24 Bottctryset CM!. EPS 1198 1265 Bottonwo Cons. PE 17.6 162 Sant. DOUTI,1•• &Ili Ma-lets Rearm. CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0119273 CONFIDENTIAL SDNY_GM_00265457 EFTA01459060