Institutional Holdings Update

Institutional ownership is likely not fully up to date yet. Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission. Major institutions are defined as firms or individuals that exercise investment discretion, over the assets of others, in excess of $100 Million. Major institutions include financial holdings companies, banks, insurance companies, mutual fund managers, portfolio managers, self managed pension and endowment funds. The report is limited to equity securities, including common and equivalents, convertible preferred and convertible bonds. The report does not include fixed income, real estate, or cash equivalents. Reports are filed within 45 days after calendar quarter end with the vast majority of updates occurring near the 45th day of the quarter.