David P. Jacob

Citibank NA engages in the provision of banking services. It offers retail and commercial banking; credit cards; banking, capital markets, and advisory; markets and securities services; private banking; and treasury and trade solutions. The company was founded on June 16, 1812 and is headquartered in New York, NY.

Deutsche Bank Securities, Inc. (DBSI) is a SEC-registered broker/dealer headquartered in New York City. The firm was founded in 1971 and is a wholly-owned investment banking and brokerage arm of DB U.S. Financial Markets Holding Corp., ultimately held by Deutsche Bank AG (NYSE: DB, FRA: DBK) in Germany. DBSI provides securities brokerage and investment advisory services to domestic and international private clients and institutions. They are also a primary dealer in US government securities as designated by the Federal Reserve.

ING Financial Markets LLC (ING Financial) is a FINRA-registered broker/dealer headquartered in New York City. They have additional offices in Dallas, Houston and Los Angeles. The firm is a wholly-owned subsidiary of ING Financial Holdings Corp, itself a subsidiary of ING Groep NV (AMS: INGA) in The Netherlands. ING Financial offers a broad range of investment services to corporate and financial institutions, as well as other ING businesses. Their research team places a particular emphasis on emerging markets. Key product areas offered are: corporate and government debt, credit and equity derivatives, treasury products (including Repo and CP/CD issuance), interest rate derivatives, foreign exchange, structured products and securities financing.

Scotia Capital (USA), Inc. (SCUSA) is a SEC-registered broker/dealer headquartered in New York City. The firm is a subsidiary of Scotia Holdings (USA) LLC, which is owned by The Bank of Nova Scotia (NYSE: BNS; TSE: BNS) in Canada. They provide debt research coverage on US investment grade and high yield debt markets. SCUSA focuses on 6 industries which includes automotive, financial services, healthcare, media and communications, REGAL - real estate/gaming and leisure and technology. They also focus on 4 main global sectors such as power, mining, infrastructure and oil & gas/energy.

Part of McGraw Hill LLC, McGraw-Hill International Enterprises LLC is a company that provides educational materials and learning solutions. The company is based in New York, NY.

Harvard University engages in the provision of teaching and research. It has twelve degree-granting Schools in addition to the Radcliffe Institute for Advanced Study, offering a global education. The university was founded in 1636 and is headquartered in Cambridge, MA.

Goldman Sachs & Co. LLC (GS&Co.) is a securities brokerage firm headquartered in New York City. Founded in 1927, the firm is a subsidiary of The Goldman Sachs Group, Inc. (NYSE: GS). GS&Co. provides services to help hedge funds manage risk, monitor portfolios, maintain liquidity and build their businesses. They offer clients access to global equity and derivatives markets, as well as foreign exchange, commodities, European Lefts, rates and credit across the Americas, Europe and Asia. The firm proactively monitors capital markets, searching for pockets of liquidity and news that may require changes to those strategies. Integration with the Goldman Sachs network gives clients access to the firm's sectored block trades and their insights into price discovery. Their electronic trading program provides clients with tools to manage their trades from pre-trade analytics to post-trade analysis.

McGraw-Hill Education, Inc. publishes and distributes educational content, software and services. The firm operates through four segments: Higher Education, K-12, International and Professional. The higher education segment relates to the development of product across all disciplines, the K-12 segment relates to content development and the international segment relates to locally developed products or adaptations and translations of existing higher education, K-12 and professional products in both digital and print format. The professional segment relates to new titles and revisions, similar to the higher education segment, and include activities related to the creation of the actual product. The company was founded by James Hill McGraw in 1888 and is headquartered in New York, NY.

Moody's Investors Service, Inc. is a credit rating and investment research firm headquartered in New York City. They are a subsidiary of Moody's Corp. (NYSE: MCO). The firm performs international financial research and analysis on commercial and government entities and provides a variety of analytic tools for assessing credit risk. Their clients include creditors, investment banks and commercial banks.

S&P Global Ratings provides independent credit risk research. It offers issuer credit ratings that provide an opinion on the overall capacity of an entity to meet its financial commitments, issue credit ratings that provide an opinion of the creditworthiness of an obligor with respect to a specific financial obligation(s) or specific financial program and loan ratings. The company is headquartered in New York, NY.

Sidoti & Co. LLC (S&C) is a registered broker and equity research firm headquartered in New York City. The firm is a subsidiary of Sidoti Holding Co. LLC and was founded in 1999. S&C provides research exclusively to institutional investors. The firm covers the following sectors: housing, retail, basic industries, technology, business services, capital goods, automotive, computer software, regional banking, telecommunications, entertainment, healthcare and consumer products. Their analysts conduct their own due diligence which includes visiting companies and meeting with operating and financial management. In addition, the firm's analysts focus on fundamentals, particularly cash flow from operations and EPS.

Barclays Capital, Inc. is a registered broker/dealer headquartered in New York City. The firm was founded in 1997 and is a subsidiary of Barclays Group US, Inc., ultimately owned by Barclays plc (LON: BARC) in Great Britain. Barclays Capital provides large corporate, government and institutional clients a full spectrum of prime brokerage services which includes equities and fixed income financing, OTC Clearing, Futures and Foreign Exchange Prime Brokerage and access to industry insights and analytics from their Strategic Consulting team.

Standard & Poor's Financial Services provides financial market intelligence services. It offers credit ratings, indices, risk evaluation, investment research and data to the financial decision-makers. The company was founded in 1860 and is headquartered in New York, NY.

Founded in 2001, Macquarie Capital (USA), Inc. is a registered broker/dealer located in New York City. The firm is a subsidiary of Macquarie Bank Ltd. (ASX: MBL). They provide coverage of the following industries: resources, healthcare, security/defense, transportation, financial services, retail/consumer products, TMET (telecommunications, media, entertainment and technology), oil & gas, diversified manufacturing/distribution and infrastructure/utilities. Macquarie Capital (USA), Inc. is a member of FINRA.

Northwestern University is a private institution founded in 1851 to serve the Northwest Territory, an area that now includes the states of Ohio, Indiana, Illinois, Michigan, Wisconsin and parts of Minnesota. Northwestern has three campuses

Fordham University provides college and university. It offers undergraduate colleges and graduate & professional schools. The company was founded in 1841 and is headquartered in Bronx, NY.

S&P Dow Jones Indices provides index-based concepts, data, and research to the financial market. Its stock market indices are used as benchmarks and as the basis of investable products, such as exchange-traded funds, mutual funds, and structured products. The company was founded in July 2012 and is headquartered in New York, NY.

Council on Foreign Relations, Inc. provides and disseminates ideas on foreign policies to individuals, corporate members, journalists and policy makers. It operates a forum for government officials, students and other interested parties to study and discuss world issues and impact on American foreign policies. The company publishes Foreign Affairs, a magazine that comes out six times a year, along with books and studies by its own scholars. Council on Foreign Relations was founded in 1921 and is headquartered in New York City, NY.

BMO Capital Markets Corp. (Broker) is the broker/dealer division of BMO Capital Markets Corp., a full-service North American financial services provider headquartered in New York City. The firm was founded in 1998 and is a subsidiary of BMO Financial Corp., which is owned by Bank of Montreal (NYSE, TSX: BMO) in Canada. BMO Capital Markets offers corporate, institutional and government clients access to a variety of products and services including equity and debt underwriting, corporate lending and project financing, merger and acquisitions advisory services, merchant banking, securitization, treasury and market risk management, debt and equity research and institutional sales and trading.

Guy Carpenter & Co. LLC provides reinsurance services. Its services include accident and health, agriculture, environmental, general casualty, investment banking, life and annuity, marine and energy, property, and workers compensation. The company was founded in 1921 by Guy Carpenter and is headquartered in New York, NY.

Founded in 1962, Raymond James Financial, Inc. (NYSE: RJF) is a diversified holding company headquartered in St. Petersburg, Florida. The firm provides services to individuals, corporations and municipalities through their wholly-owned subsidiaries: Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd. Raymond James operates through eight segments: Private Client Group (PCG); Capital Markets; Asset Management; Raymond James Bank (RJ Bank); Emerging Markets; Securities Lending; Proprietary Capital; and Other. The Private Client Group segment provides securities transaction and financial planning services to client accounts through the branch office systems of the company's subsidiaries. The Capital Markets segment's activities consist primarily of equity and fixed income products and services. The Asset Management segment provides asset management services for individual investment portfolios and mutual funds. The RJ Bank segment provides corporate, residential and consumer loans, as well as Federal Deposit Insurance Corp. insured deposit accounts, to clients of the company's broker-dealer subsidiaries and to the general public. The Emerging Markets segment operates securities brokerage, investment banking, asset management and equity research businesses. The Securities Lending segment conducts its business through the borrowing and lending of securities from and to other broker-dealers, financial institutions and other counterparties. The Proprietary Capital segment consists of the company's principal capital and private equity activities, including various direct and third-party private equity and merchant banking investments. Raymond James' capital markets reach within the financial institutions segment focuses on community and regional banks and thrifts including equity research, sales, trading and investment banking resources and services. Raymond James is one of the largest research organizations in the brokerage industry and serves institutional investors domestically and abroad. The firm's capital markets activities are based on insightful, timely and comprehensive equity research. They publish research on over 1,000 companies in their core industries. Raymond James seeks attractive niches within broader industries and then covers these sectors deeply to develop differentiated sector expertise and relationships. Although their focus is mid- and small-cap companies, their coverage includes large, medium and small companies across each sector. Raymond James' Institutional Trading division is organized into 3 specialty departments: Sales Trading, Principal trading and Agency Trading. Their Sales Trading division covers over 800 domestic and 1,300 international financial institutions throughout North America and Europe. The firm's Principal Trading division consists of industry-focused teams and their OTC Principal Trading department makes markets in over 680 domestic stocks, 85% of which are covered by Raymond James Institutional Research department. Their Agency Trading department services the trading needs of over 5,500 financial advisors located in 2,500 retail offices across the US.

Part of McGraw Hill LLC, Mcgraw-Hill Global Education UK Holdco II Ltd. is an investment holding company. The company is based in Maidenhead, UK and was founded in 2013.

Part of McGraw Hill LLC, McGraw-Hill Global Education UK Holdco Ltd. functions as an investment holding company. The company is based in Maidenhead, UK and was founded in 2013.

Part of IAC, Inc., MONEY Magazine is a finance magazine publishing company. The company is based in Chicago, IL.

Auriga USA is a broker/dealer located in New York City. Their research focuses on the semiconductors, information technology and health services sectors.