nderperforms Our 1Q17 list includes eight Buys and two Underperforms across six sectors. Our Buys are Aetna Inc, Dover Corp, General Dynamics, Hess, MGM Resorts, Norfolk Southern, SVB Financial, and Texas Instruments. Our Underperforms are Consolidated Edison, and TripAdvisor. How the list will be maintained

with the new Arena, and both will open concurrently in the spring of 2016. —— ~ HOU S) E OVERSIGHT 018 — ~ 775 --- PAGE BREAK --- The Arena (MGM Resorts) — Construction broke ground in May 2014 on a 16-acre, $375-million entertainment district located between Monte Carlo and New York- New York. The MG