PART ONE: Sector Performance

Sector	Portfolio Weighting	(2) S&P Weighting	(3) Differences in Weighting	(4) Portfolio Return	(5) S&P Return	(6) Sector Over- or Under Performance	(7) = (3) x (6) Sector Allocation Contributions
Telecommunications Services	3.10%	5.90%	A 2.80%	2.50%	3.10%	K 0.60%	U 0.02%
Utilities	7.50%	3.80%	B -3.70%	3.10%	1.90%	L -1.20%	V 0.04%
Information Technology	14.30%	17.90%	C 3.60%	4.90%	3.20%	M -1.70%	W -0.06%
Materials	6.30%	3.70%	D -2.60%	4.80%	5.10%	N 0.30%	X -0.01%
Financials	13.40%	17.10%	E 3.70%	6.20%	4.80%	O -1.40%	Y -0.05%
Consumer Discretionary	12.70%	13.50%	F 0.80%	2.10%	4.00%	P 1.90%	Z 0.02%
Industrials	14.10%	11.90%	G -2.20%	4.90%	3.10%	Q -1.80%	AA 0.04%
Energy	8.40%	8.00%	H -0.40%	3.70%	8.60%	R 4.90%	BB -0.02%
Healthcare	15.30%	11.70%	I -3.60%	9.80%	5.70%	S -4.10%	CC 0.015%
Consumer Staples	4.90%	6.50%	J 1.60%	1.50%	13.20%	T 11.70%	DD 0.19%

3. Which sector turned in the greatest positive contribution to the portfolios performance? Explain why this investment made the greatest positive contribution based on the differences in weighting and the sector over- or under- performance.