As of: 8/4/2017
COL      Date of    COL        Buy       Outstanding    Market Cap                        Revenue                               Revenue Growth
 Ticker            Company Name    Price     Rating   Update      FV       Below      Shares (Mil)    (PhpMil)      2015        2016          2017E      2018E      2015    2016       2017E   2018E
Banks and Financials                                                                                  1,730,204   317,150     372,923        403,941    460,819       3%    18%         8%      14%
  BDO      BANCO DE ORO           127.50     HOLD     6/15/17   134.00     116.00        3,815         556,868     88,900     106,853        118,685    135,042     10%     20%        11%      14%
   BPI     BANK OF PHIL ISLANDS   105.40     HOLD     6/15/17   106.00      92.00        3,937         414,126     59,359      66,551         71,250    80,159       6%     12%        7%       13%
  CHIB     CHINA BANKING CORP      36.20     HOLD     6/15/17    42.00      35.00        2,102          89,990     19,572      21,789         23,047    25,908       4%     11%        6%       12%
   EW      EASTWEST BANKING COR    32.15     BUY      6/15/17    35.60      29.00        1,500          48,224     16,316      21,575         24,823    30,149      10%     32%        15%      21%
  MBT      METROPOLITAN BANK       86.05     BUY      6/15/17   110.00      95.00        3,180         273,654     67,402      78,171         83,654    94,391      -10%    16%        7%       13%
  PNB      PHIL NATIONAL BANK      66.20     HOLD     7/10/17    67.00      53.00        1,249          82,693     26,847      31,828         30,619    33,831       2%     19%        -4%      10%
  SECB     SECURITY BANK CORP     230.00     HOLD     6/15/17   221.00     192.00         754          173,314     18,677      20,832         26,550    32,361      11%     12%        27%      22%
  UBP      UNION BANK OF PHIL      86.30     BUY      6/15/17    98.50      82.00        1,058          91,335     20,077      25,324         25,313    28,978       -1%    26%        0%       14%
Commercial and Industrial                                                                             554,926     612,567     615,025        720,463    783,878     -15%      0%       17%       9%
  ABS      ABS-CBN BROADCASTING    43.60     BUY      6/15/17    76.60      61.00         872          37,095      38,278      41,631         39,434    41,283      15%      9%        -5%      5%
  CEB      CEBU AIR INC           102.00     BUY      6/15/17   125.50     100.00         606          61,807      56,502      61,899         64,991    74,570       9%     10%        5%       15%
  CHP      CEMEX HOLDINGS PHIL      5.85     BUY      6/15/17     9.70       7.70        5,344         30,393      23,937      24,806         24,543    26,035      23%      4%        -1%      6%
  EEI      EEI CORPORATION         13.80     HOLD     6/15/17     9.80       8.10        1,036         14,301      18,979      14,836         18,749    21,319      11%     -22%       26%      14%
 GMA7      GMA NETWORK INC          6.19     BUY      6/15/17     8.60       6.80        3,361         20,805      13,727      16,673         15,248    16,277      15%     21%        -9%      7%
  ICT      INTL CONTAINER TERM    103.60     HOLD     6/15/17    96.80      84.00        2,028        209,695      47,862      53,592         60,565    69,327       2%     12%        13%      14%
   IMI     INTEGRATED MICRO-ELE    13.74     HOLD     6/29/17    15.10      12.50        1,867         25,514      37,074      40,036         52,751    62,155       -1%     8%        32%      18%
 MWC       MANILA WATER COMPANY    31.80     HOLD     6/15/17    30.70      26.00        2,054         65,315      16,029      17,712         19,360    20,743       3%     10%        9%       7%
 PCOR      PETRON CORP c            9.60      N/A       N/A        N/A        N/A        9,375         90,001     360,178     343,840        424,822    452,169     -25%     -5%       24%      6%
Conglomerates                                                                                         3,788,739   1,436,679   1,658,056     1,846,541   2,003,358     9%    15%        11%       8%
   AC      AYALA CORPORATION       879.00    BUY      6/15/17   1,024.00    890.00        620          546,026     174,035     218,167       242,342     264,823    11%     25%        11%      9%
  AEV      ABOITIZ EQUITY VENTU     74.95    HOLD     6/15/17     62.70      54.00       5,634         422,253     111,260     116,415       133,207     153,165     3%     5%         14%      15%
  AGI      ALLIANCE GLOBAL          14.20    BUY      6/15/17     19.38      15.50      10,270         145,832     135,673     139,740       143,312     156,210    13%     3%         3%       9%
 COSCO     COSCO CAPITAL INC         7.60    BUY      6/15/17     11.90       9.50       7,405          56,053     116,752     129,186       145,059     152,395    18%     11%        12%      5%
  DMC      DMCI HOLDINGS INC        15.66    HOLD     6/15/17     12.83      10.60      13,277         207,925      57,204      64,899        73,562      76,064     1%     13%        13%      3%
  FPH      FIRST PHIL HOLDINGS      66.60    BUY      7/14/17    121.40      97.00        554           36,910      96,510      91,910       102,025     105,750     -3%    -5%        11%      4%
 GTCAP     GT CAPITAL HOLDINGS    1,200.00   BUY      6/20/17   1,450.00   1,208.00       174          231,116     131,383     191,785       242,560     275,823     -3%    46%        26%      14%
  JGS      JG SUMMIT HLDGS          74.00    HOLD     6/15/17     72.00      62.00       7,163         530,050     229,272     240,503       270,040     287,919    24%     5%         12%      7%
  LTG      LT GROUP INC c           18.22     N/A       N/A         N/A        N/A      10,821         197,166      51,473      57,800        63,122      68,671     0%     12%        9%       9%
  MPI      METRO PACIFIC INVEST      6.69    BUY      6/15/17      8.45       7.30      31,504         210,797      37,239      44,820        47,440      53,238    10%     20%        6%       12%
   SM      SM INVESTMENTS CORP     800.00    HOLD     6/15/17    836.00     726.00       1,204         963,666     295,878     362,831       383,872     409,300     7%     23%        6%       7%
                            c
  SMC      SAN MIGUEL CORP         101.30     N/A       N/A         N/A        N/A       2,380         240,945     672,243     685,314       820,701     885,650    -13%    2%         20%      8%
Consumer                                                                                              1,121,846    494,649     546,732       616,500     679,732     16%    11%        13%      10%
   CIC     CONCEPCION INDUST CO    65.10     HOLD     6/29/17    48.30      40.00         404           26,423      10,594      12,342        14,024      16,221    15%     17%        14%      16%
  CNPF     CENTURY PACIFIC FOOD    18.44     HOLD     6/15/17    19.20      16.60        3,542          65,319      23,325      28,288        32,404      35,783    14%     21%        15%      10%
   DNL     D&L INDUSTRIES INC      12.22     HOLD     6/15/17    12.70      11.00        7,143          87,286      19,578      22,232        25,648      28,745    21%     14%        15%      12%
  EMP      EMPERADOR INC            7.67     BUY      6/15/17     8.07       6.40       16,120         123,636      43,268      40,447        44,233      47,306    38%     -7%        9%       7%
   JFC     JOLLIBEE FOODS CORP    215.20     HOLD     6/15/17   226.00     196.00        1,077         233,020     100,780     113,908       128,106     145,173    11%     13%        12%      13%
 PGOLD     PUREGOLD PRICE CLUB     47.00     BUY      6/15/17    56.00      48.00        2,765         129,973      97,172     112,589       125,426     140,433    15%     16%        11%      12%
  RRHI     ROBINSONS RETAIL HLD    87.00     BUY      6/15/17    99.00      86.00        1,385         120,495      90,883     105,293       117,817     129,462    13%     16%        12%      10%
  URC      UNIVERSAL ROBINA COR   152.30     HOLD     6/29/17   177.00     141.00        2,204         335,694     109,051     111,632       128,840     136,608    18%     2%         15%      6%
Gaming                                                                                                 241,017      68,565      85,222        98,108     104,351      21%    24%       15%       6%
  BEL      BELLE CORP              3.72      HOLD     6/15/17     3.57       3.10       10,499          39,055       5,195       6,322         8,037      8,439      64%    22%        27%      5%
 BLOOM     BLOOMBERY RESORTS CO    8.83      BUY      6/15/17    12.30      10.60       11,002          97,145      25,040      30,387        34,391      36,182      4%    21%        13%      5%
  MRP      MELCO RESORTS & ENT     8.99      BUY      6/15/17    11.28       9.80        5,663          50,931      13,727      23,419        30,355      32,838    3091%   71%        30%      8%
  RWM      TRAVELLERS INT HOTEL    3.42      HOLD     6/15/17     3.79       3.00       15,756          53,885      24,602      25,095        25,324      26,892     -15%    2%        1%       6%
Mining                                                                                                 269,247      48,637      60,085        66,790      69,161     -23%    24%       11%       4%
  NIKL     NICKEL ASIA CORP        6.20      HOLD     6/15/17    5.20       4.10         7,603          47,138      15,432      14,123        14,712      15,853     -38%    -8%       4%       8%
   PX      PHILEX MINING CORP      8.84      HOLD     6/15/17    8.10       6.40         4,940          43,673       8,525       9,378         8,808      8,808      -15%   10%        -6%      0%
  SCC      SEMIRARA MINING        167.50     BUY      6/15/17   191.00     166.00        1,065         178,435      24,680      36,584        43,269      44,500     -14%   48%        18%      3%
Power                                                                                                  806,064     260,787     256,913       283,649     290,028       0%    -1%       10%       2%
    AP     ABOITIZ POWER CORP      39.95      BUY     6/21/17    49.20      42.00        7,359         293,976      85,174      89,163       107,998     126,698      -2%    5%        21%     17%
   EDC     ENERGY DEVT CORP         6.90      BUY     6/15/17     8.73       6.90       18,737         129,285      34,360      34,236        34,751      36,354     11%     0%        2%       5%
  FGEN     FIRST GEN CORP          18.36      BUY     7/14/17    26.25      21.00        3,661          67,215      83,597      74,161        83,256      85,869      -1%   -11%       12%      3%
  MER      MANILA ELECTRIC CO     280.00      BUY     6/15/17   360.00     313.00        1,127         315,588      57,656      59,353        57,643      41,107      -1%    3%        -3%     -29%
Property                                                                                              1,976,112    274,104     307,395       345,748     381,139      11%    12%       12%      10%
  ALI      AYALA LAND INC          41.90     BUY      6/15/17    46.24      40.00       14,713         616,975     100,661     117,700       133,095     147,483     13%    17%        13%     11%
  FLI      FILINVEST LAND INC       1.87     HOLD     6/15/17     1.88       1.60       24,250          45,347      17,003      17,640        18,924      20,341      7%     4%        7%       7%
 MEG       MEGAWORLD CORP           4.81     BUY      6/15/17     5.59       4.80       32,239         155,072      38,466      40,326        47,104      50,618     13%     5%        17%      7%
  RLC      ROBINSONS LAND          24.55     BUY      6/29/17    29.62      25.70        4,094         100,504      19,714      22,512        22,842      24,836     16%    14%        1%       9%
 SMPH      SM PRIME HOLDINGS       34.00     BUY      6/15/17    39.50      34.00       28,879         981,894      71,511      79,816        88,770      97,953      8%    12%        11%     10%
  VLL      VISTA LAND & LIFESCP     5.95     BUY      6/21/17     6.91       6.00       12,839          76,320      26,748      29,401        35,013      39,908     12%    10%        19%     14%
Telecoms                                                                                               620,392     276,609     285,252       293,526     304,996       5%     3%        3%       4%
  GLO      GLOBE TELECOM INC      2,018.00   HOLD     7/27/17   2,180.00   1,895.00       133          268,222     113,679     119,990       125,433     131,509     15%     6%        5%       5%
  TEL      PH LONG DISTANCE TEL   1,630.00   HOLD     6/15/17   2,070.00   1,800.00       216          352,171     162,930     165,262       168,093     173,487      -1%    1%        2%       3%
MARKET                                                                                               10,839,300   3,741,110   4,127,518     4,608,475   5,008,300      4%    10%       12%       9%
PSEi                                                                                                  9,571,457   2,965,226   3,284,032     3,679,611   3,991,289    2%     11%        12%      8%
PSEi ex-TEL, GLO                                                                                      8,951,065   2,688,617   2,998,780     3,386,085   3,686,293    2%     12%        13%      9%
   *       Source: Bloomberg
   c
           Consensus Forecast
                       Net Income                          Net Income Growth                             EPS                           EPS Growth                         P/E (x)              PEG    P/BV   ROE    Div Yield
Ticker    2015       2016      2017E     2018E     2015     2016     2017E     2018E   2015     2016        2017E    2018E    2015    2016    2017E   2018E   2015    2016     2017E   2018E   2017   2017   2017    2017E
         89,306     101,851    107,928   126,518     0%      14%       6%       17%                                            -3%     8%       1%     17%    17.6    16.4     16.2    13.9    4.2    1.6    11.1     1.4%
BDO      25,016     26,090      28,633    33,473    10%       4%      10%       17%     6.84     7.06        6.65    7.73       9%     3%      -6%     16%    18.6    18.1     19.2    16.5    4.1    1.8    11.0     0.9%
 BPI     18,234     22,050      23,225    26,564     1%      21%       5%       14%     4.64     5.60        5.90    6.75       0%    21%       5%     14%    22.7    18.8     17.9    15.6    1.8    2.3    13.4     1.7%
CHIB      5,607      6,458       6,484     7,725    10%      15%       0%       19%     3.02     3.23        2.79    3.11      -2%     7%     -14%     11%    12.0    11.2     13.0    11.6    0.0    1.1    7.9      3.3%
 EW       2,004      3,408       4,097     5,423    -3%      70%      20%       32%     1.44     2.27        2.73    3.62     -22%    58%      20%     33%    22.3    14.2     11.8     8.9    0.4    1.3    11.3     0.8%
MBT      18,625     18,086      19,600    22,982    -7%      -3%       8%       17%     5.86     5.61        6.16    7.23     -18%    -4%      10%     17%    14.7    15.3     14.0    11.9    1.0    1.3    9.6      1.2%
PNB       6,114      7,147       7,036     7,939    14%      17%      -2%       13%     4.89     5.72        5.63    6.36       6%    17%      -2%     13%    13.5    11.6     11.8    10.4    2.2    0.9    7.5      1.5%
SECB      7,699      8,554      10,176    12,438     7%      11%      19%       22%    12.77    11.95       13.50    16.51      7%    -6%      13%     22%    18.0    19.2     17.0    13.9    1.0    1.7    10.1     1.0%
UBP       6,008     10,058       8,677     9,974   -28%      67%     -14%       15%     5.68     9.50        8.19    9.41     -28%    67%     -14%     15%    15.2    9.1      10.5     9.2    0.0    1.5    14.9     3.4%
         27,372     43,882     45,152    52,514     13%       60%       3%      16%                                            -11%     99%     11%    15%     32.7    16.5    14.8    12.8     0.7   1.6    12.7     1.5%
 ABS      2,932     3,885       2,902     3,282     23%       33%     -25%      13%     3.56     4.72        3.52    3.98       24%     33%    -25%    13%     12.3    9.2     12.4    11.0     0.0   1.1    8.7     2.3%
 CEB      4,387     9,754       8,127     9,239    414%      122%     -17%      14%     7.24    16.10       13.41    15.25     413%    122%    -17%    14%     14.1    6.3      7.6     6.7     0.0   1.5    21.0    1.0%
 CHP      2,183     1,413       2,753     2,916    331%      -35%      95%       6%       -      0.50        0.53    0.56         -       -      6%     6%       -     11.7    11.0    10.4      -    1.0    9.2        -
 EEI       203       (848)       972      1,044    -78%     -518%    -215%       7%     0.20    (0.82)       0.94    1.01      -78%   -518%   -215%     7%     70.6   (16.9)   14.7    13.7      -    2.2    15.6    1.4%
GMA7      2,115     3,626       2,400     2,844    111%       71%     -34%      19%     0.44     0.75        0.49    0.59      110%     71%    -34%    20%     14.2    8.3     12.6    10.5     0.0   3.1    23.6    11.8%
 ICT      2,665     8,550      10,857    13,381    -67%      221%      27%      23%     0.50     3.13        4.22    5.46      -85%    526%     35%    30%    206.9    33.1    24.6    19.0     0.8   2.1    10.8    0.9%
  IMI     1,311     1,335       1,863     2,291      1%        2%      40%      23%     0.68     0.71        1.00    1.23      -10%      4%     41%    23%     20.1    19.3    13.7    11.1     0.4   1.9    14.8    1.7%
MWC       5,958     6,065       6,074     6,097      2%        2%       0%       0%     2.41     2.45        2.46    2.47        2%      2%      0%     0%     13.2    13.0    12.9    12.9    31.7   1.4    13.2    2.8%
PCOR      5,618     10,100      9,203    11,420     69%       80%      -9%      24%     0.15     0.60        0.92    1.06     -200%    300%     53%    15%     64.0    16.0    10.4     9.1     0.3   1.2    14.3    0.9%
         156,389    167,740    196,020   209,465    13%       7%      17%        7%                                            -1%     11%     12%      7%    22.8    20.5     18.3    17.1     2.0   2.0    11.4     1.2%
  AC     22,279     26,011      26,880    28,924    20%      17%       3%        8%    33.89    39.88       41.00    45.00     14%     18%      3%     10%    25.9    22.0     21.4    19.5     3.4   2.2    11.3     0.8%
 AEV     17,679     22,473      25,118    31,947    -4%      27%      12%       27%     3.18     4.02        4.46    5.67      -4%     26%     11%     27%    23.5    18.7     16.8    13.2     0.9   2.7    15.9     1.8%
 AGI     13,965     14,801      15,218    16,132     5%       6%       3%        6%     1.36     1.46        1.48    1.57       4%      7%      1%      6%    10.4    9.7       9.6     9.0     2.6   0.9    9.6      2.8%
COSCO     4,491      4,734       5,335     5,939    12%       5%      13%       11%     0.63     0.66        0.72    0.80      16%      6%      9%     11%    12.1    11.5     10.5     9.5     1.1   1.0    10.0     0.0%
 DMC     12,835     12,185      15,070    16,129    19%      -5%      24%        7%     0.97     0.92        1.14    1.21      20%     -5%     23%      7%    16.1    17.0     13.8    12.9     0.9   2.8    15.5     3.6%
 FPH      5,406      9,933       6,514     7,038    -4%      84%     -34%        8%     9.59    17.75       11.61    12.55     -5%     85%    -35%      8%     6.9    3.8       5.7     5.3     0.0   0.5    8.0      3.0%
GTCAP    12,115     14,634      14,950    16,585    32%      21%       2%       11%    69.51    83.96       77.62    86.11     32%     21%     -8%     11%    17.3    14.3     15.5    13.9    12.1   1.3    9.3      0.4%
 JGS     22,610     10,918      28,813    27,820    24%     -52%     164%       -3%     3.16     1.52        4.11    3.96      22%    -52%    170%     -3%    23.4    48.7     18.0    18.7     0.3   2.2    12.0     0.3%
 LTG      6,599      9,390      10,215    11,306    50%      42%       9%       11%     0.61     0.87        0.95    1.05      49%     43%      9%     11%    29.9    20.9     19.1    17.3     1.9   1.4    7.3      1.1%
 MPI      9,546     11,456      14,245    11,012    20%      20%      24%      -23%     0.35     0.38        0.45    0.35      13%     10%     19%    -23%    19.4    17.6     14.8    19.1     0.0   1.3    8.7      1.5%
  SM      28,865     31,204     33,661    36,635     2%       8%       8%        9%    24.07    25.90       27.94    30.41    -33%      8%      8%      9%    33.2    30.9     28.6    26.3     3.4   3.0    11.0     1.0%
 SMC     12,448     29,289      13,023    13,290   -18%     135%     -56%        2%     2.53     9.43        5.48    5.59     -33%    273%    -42%      2%    40.0    10.7     18.5    18.1     0.0   0.8    4.8      1.4%
         38,497     43,281      45,900    51,395     6%      12%       6%       12%                                             5%     17%     -3%     13%    29.7    25.3     26.0    23.0     4.3   3.8    15.0     1.6%
  CIC      667        912         988      1,149     5%      37%       8%       16%     1.97     2.69        2.43     2.83      5%     37%    -10%     16%    33.0    24.2     26.7    23.0    10.4   4.7    24.1     1.8%
 CNPF     1,934      2,656       3,033     3,460    21%      37%      14%       14%     0.87     0.75        0.86     0.98     14%    -13%     14%     14%    21.3    24.6     21.5    18.9     1.5   4.4    22.2     1.2%
  DNL     2,280      2,627       3,172     3,676   -16%      15%      21%       16%     0.32     0.37        0.44     0.51    -16%     16%     19%     17%    38.2    33.0     27.8    23.7     1.5   5.6    21.5     1.8%
 EMP      6,960      7,693       8,017     8,696    12%      11%       4%        8%     0.43     0.48        0.50     0.54      5%     12%      4%      8%    17.8    16.0     15.3    14.2     2.5   2.1    13.9     2.4%
  JFC     4,928      6,165       6,696     7,743    -8%      25%       9%       16%     4.53     5.75        6.08     7.30     -9%     27%      6%     20%    47.5    37.4     35.4    29.5     2.8   6.2    18.7     1.0%
PGOLD     5,002      5,526       6,213     6,995    11%      10%      12%       13%     1.81     2.00        2.25     2.53     11%     10%     12%     13%    26.0    23.5     20.9    18.6     1.7   2.7    13.6     0.9%
 RRHI     4,342      4,830       5,465     5,950    22%      11%      13%        9%     3.13     3.49        3.95     4.30     20%     12%     13%      9%    27.8    24.9     22.0    20.3     2.0   2.3    11.0     0.9%
 URC     12,383     12,872      12,316    13,726     7%       4%      -4%       11%     5.68     6.94        5.59     6.23      7%     22%    -19%     11%    26.8    21.9     27.3    24.5     0.0   4.1    15.5     2.5%
          (6,953)     6,878     10,569    12,364   -264%    -199%     54%       17%                                           -98%    2847%    64%     13%    854.9   29.0     17.7    15.6    1.4     2.2   13.7     1.3%
 BEL       1,534      2,700      2,969     3,290     48%      76%     10%       11%     0.15     0.16        0.28     0.31    -31%       7%    75%     11%    24.8    23.3     13.3    12.0    0.3    1.5    11.9     2.6%
BLOOM     (3,364)     2,357      4,429     5,177       -        -     88%       17%    (0.31)    0.21        0.40     0.47       -        -    86%     18%      -     41.3     22.1    18.8     -     3.5    16.0     0.6%
 MCP      (9,144)    (1,581)      (75)      362        -        -       -         -    (1.82)   (0.28)      (0.01)    0.06       -        -      -       -      -       -        -       -      -     10.3   6.8      0.0%
 RWM       4,021      3,402      3,245     3,535    -26%     -15%     -5%        9%     0.26     0.22        0.21     0.22    -26%     -15%    -5%      5%    13.2    15.5     16.3    15.5     -     1.1    6.8      1.2%
         11,418     15,596      20,308    21,414    -30%      37%     30%        5%                                           -22%      40%    30%      4%     24.2   17.3     13.3    12.8    0.7     2.7   19.0     1.9%
 NIKL      2,035      1,966      2,186     2,850    -76%      -3%     11%       30%     0.27     0.26        0.29    0.38     -76%      -4%    11%     30%    23.0    23.8     21.6    16.5    1.1    1.8    8.2      5.4%
  PX        896       1,589      1,581     1,515    -11%      77%      0%       -4%     0.18     0.32        0.32    0.31     -11%      78%    -1%     -4%    48.8    27.5     27.6    28.8    0.0    1.6    5.9      0.9%
 SCC       8,487    12,041      16,542    17,049     24%      42%     37%        3%     7.94    11.28       15.48    15.95     24%      42%    37%      3%    21.1    14.8     10.8    10.5    0.6    3.8    15.5     2.4%
         51,961     58,010      57,507    58,810     -6%      12%     -1%        2%                                           -13%      16%    -5%      5%     15.8   13.7     14.4    13.8    3.4     2.0   17.8     3.8%
  AP     17,604     20,003      20,825    29,144      5%      14%      4%       40%     2.39     2.72        2.83    3.96       5%      14%     4%     40%    16.7    14.7     14.1    10.1    0.7    2.4    16.7     3.4%
 EDC       7,642      9,352      8,533     9,358    -35%      22%     -9%       10%     0.41     0.50        0.46    0.50     -35%      23%    -9%     10%    17.0    13.8     15.2    13.8     -     2.3    15.0     3.6%
FGEN       7,617      9,479      7,500     8,642    -11%      24%    -21%       15%     1.68     2.23        1.56    1.87      -9%      33%   -30%     20%    10.9    8.2      11.7     9.8    0.0    0.6    6.9      1.9%
MER      19,098     19,176      20,649    11,666      6%       0%      8%      -44%    16.94    17.01       18.32    10.35      6%       0%     8%    -44%    16.5    16.5     15.3    27.0    0.0    4.0    26.0     5.2%
         73,891     75,491      84,356    94,556      6%       2%     12%       12%                                             5%       4%    11%     13%     27.1   26.2     23.6    21.0    3.8     2.7   12.7     1.1%
 ALI     17,630     20,908      24,131    27,326     19%      19%     15%       13%     1.20     1.43        1.64     1.86     14%      19%    15%     13%    34.9    29.3     25.5    22.5    1.8    3.8    15.4     1.4%
 FLI       5,012      4,901      5,368     6,145     10%      -2%     10%       14%     0.21     0.20        0.22     0.25     11%      -4%    10%     14%     8.9    9.3       8.4     7.4    0.7    0.7    8.7      3.1%
MEG      10,215     12,431      13,217    14,734    -52%      22%      6%       11%     0.32     0.38        0.41     0.46    -52%      18%     8%     12%    15.0    12.7     11.7    10.5    1.2    1.1    9.5      0.8%
 RLC       5,700      5,538      5,556     6,105     20%      -3%      0%       10%     1.39     1.35        1.36     1.49     20%      -3%     1%     10%    17.7    18.2     18.1    16.5    3.6    1.5    9.9      1.5%
SMPH     28,302     23,806      27,130    30,289     54%     -16%     14%       12%     0.98     0.83        0.93     1.05     49%     -16%    13%     12%    34.6    41.2     36.4    32.4    2.9    3.7    11.2     0.8%
 VLL       7,032      7,907      8,954     9,957     14%      12%     13%       11%     0.62     0.68        0.69     0.77     28%       9%     2%     12%     9.6    8.8       8.6     7.7    1.3    0.9    11.2     2.2%
         38,562     36,176      44,906    39,867    -19%      -6%     24%      -11%                                           -28%      -8%    33%    -16%     16.2   17.6     13.2    15.6    1.5     3.2   20.7     4.7%
 GLO     16,497     16,014      16,525    17,130     23%      -3%      3%        4%    120.11   115.45      124.48   129.04    19%      -4%     8%      4%    16.8    17.5     16.2    15.6    2.8    3.9    24.4     4.5%
 TEL     22,065     20,162      28,380    22,737    -35%      -9%     41%      -20%    101.85    92.33      130.36   104.24   -35%      -9%    41%    -20%    16.0    17.7     12.5    15.6    2.0    3.0    19.6     4.8%
         469,025    533,310    592,337   645,489      1%      14%     11%        9%                                            -6%      13%     9%      9%     22.4   19.8     18.1    16.7    1.9     2.1   13.0     1.6%
         407,521    439,975    500,078   539,390    2%       8%       14%       8%      342      373         415      450      -3%     9%      11%     8%     23.2    21.3     19.1     17.6   2.1    2.3    13.0     1.6%
         368,959    403,799    455,172   499,523    5%       9%       13%       10%                                            -3%    11%      10%     11%    23.9    21.6     19.7     17.8   2.3    2.2    12.5     1.4%