N-Q 1 d177437dnq.htm AB GLOBAL THEMATIC GROWTH FUND, INC. AB Global Thematic Growth Fund, Inc.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-03131

AB GLOBAL THEMATIC GROWTH FUND, INC.

(Exact name of registrant as specified in charter)

1345 Avenue of the Americas, New York, New York 10105

(Address of principal executive offices) (Zip code)

Joseph J. Mantineo

AllianceBernstein L.P.

1345 Avenue of the Americas

New York, New York 10105

(Name and address of agent for service)

Registrant’s telephone number, including area code: (800) 221-5672

Date of fiscal year end: July 31, 2016

Date of reporting period: April 30, 2016

 

 

 


ITEM 1. SCHEDULE OF INVESTMENTS.


AB Global Thematic Growth Fund

Portfolio of Investments

April 30, 2016 (unaudited)

 

Company

   Shares        U.S. $ Value  

COMMON STOCKS - 98.3%

       

Information Technology - 24.7%

       

Communications Equipment - 1.2%

       

Palo Alto Networks, Inc. (a)

     49,620         $ 7,486,170   
       

 

 

 

Internet Software & Services - 7.7%

       

Alibaba Group Holding Ltd. (Sponsored ADR) (a)

     138,790           10,678,502   

Alphabet, Inc.-Class C (a)

     17,501           12,128,368   

Facebook, Inc.-Class A (a)

     107,810           12,676,300   

Tencent Holdings Ltd.

     560,400           11,403,194   
       

 

 

 
          46,886,364   
       

 

 

 

IT Services - 1.8%

       

Visa, Inc.-Class A

     145,530           11,240,737   
       

 

 

 

Semiconductors & Semiconductor Equipment - 6.7%

       

ams AG

     147,610           3,911,199   

Broadcom Ltd.

     81,920           11,939,840   

NVIDIA Corp.

     300,202           10,666,177   

NXP Semiconductors NV (a)

     108,030           9,212,798   

Skyworks Solutions, Inc.

     83,110           5,553,410   
       

 

 

 
          41,283,424   
       

 

 

 

Software - 5.3%

       

Fortinet, Inc. (a)

     226,048           7,348,820   

Imperva, Inc. (a)

     171,314           7,962,675   

Mobileye NV (a)(b)

     232,498           8,869,799   

salesforce.com, Inc. (a)

     112,410           8,520,678   
       

 

 

 
          32,701,972   
       

 

 

 

Technology Hardware, Storage & Peripherals - 2.0%

       

Apple, Inc.

     93,700           8,783,438   

Thin Film Electronics ASA (a)(b)

     6,286,839           3,292,244   
       

 

 

 
          12,075,682   
       

 

 

 
          151,674,349   
       

 

 

 

Financials - 18.6%

       

Banks - 1.4%

       

Wells Fargo & Co.

     176,830           8,837,963   
       

 

 

 

Capital Markets - 8.3%

       

Affiliated Managers Group, Inc. (a)

     36,878           6,281,061   

Azimut Holding SpA

     350,170           8,838,762   

Charles Schwab Corp. (The)

     318,610           9,051,710   

Flow Traders (c)

     113,760           4,515,665   

Partners Group Holding AG (b)

     23,980           9,890,273   

UBS Group AG (a)

     377,100           6,512,517   

WisdomTree Investments, Inc. (b)

     526,588           5,734,543   
       

 

 

 
          50,824,531   
       

 

 

 


Company

   Shares        U.S. $ Value  

Consumer Finance - 2.0%

       

Gentera SAB de CV (b)

     2,759,360           5,475,528   

SKS Microfinance Ltd. (a)

     710,250           6,494,394   
       

 

 

 
          11,969,922   
       

 

 

 

Diversified Financial Services - 2.3%

       

Intercontinental Exchange, Inc.

     33,390           8,014,602   

London Stock Exchange Group PLC

     149,610           5,942,786   
       

 

 

 
          13,957,388   
       

 

 

 

Insurance - 3.1%

       

AIA Group Ltd.

     2,113,000           12,618,383   

St James’s Place PLC

     516,470           6,555,911   
       

 

 

 
          19,174,294   
       

 

 

 

Thrifts & Mortgage Finance - 1.5%

       

Housing Development Finance Corp., Ltd.

     577,810           9,482,174   
       

 

 

 
          114,246,272   
       

 

 

 

Health Care - 17.4%

       

Biotechnology - 1.9%

       

Cepheid (a)

     201,852           5,760,856   

Regeneron Pharmaceuticals, Inc. (a)

     16,430           6,189,345   
       

 

 

 
          11,950,201   
       

 

 

 

Health Care Equipment & Supplies - 6.1%

       

Abbott Laboratories

     237,420           9,235,638   

Align Technology, Inc. (a)

     113,450           8,189,955   

Cerus Corp. (a)(b)

     1,103,560           6,908,286   

Essilor International SA (b)

     99,370           12,864,040   
       

 

 

 
          37,197,919   
       

 

 

 

Health Care Providers & Services - 3.3%

       

HealthEquity, Inc. (a)(b)

     263,667           6,631,225   

UnitedHealth Group, Inc.

     101,760           13,399,757   
       

 

 

 
          20,030,982   
       

 

 

 

Life Sciences Tools & Services - 2.4%

       

Illumina, Inc. (a)

     44,560           6,015,154   

Quintiles Transnational Holdings, Inc. (a)

     123,085           8,501,481   
       

 

 

 
          14,516,635   
       

 

 

 

Pharmaceuticals - 3.7%

       

Perrigo Co. PLC

     39,780           3,845,533   

Roche Holding AG

     45,860           11,603,001   

Sun Pharmaceutical Industries Ltd.

     601,320           7,354,198   
       

 

 

 
          22,802,732   
       

 

 

 
          106,498,469   
       

 

 

 

Consumer Discretionary - 12.9%

       

Auto Components - 2.0%

       

Delphi Automotive PLC

     167,800           12,355,114   
       

 

 

 

Diversified Consumer Services - 1.4%

       

TAL Education Group (ADR) (a)(b)

     145,770           8,434,252   
       

 

 

 


Company

   Shares        U.S. $ Value  

Hotels, Restaurants & Leisure - 1.5%

  

Starbucks Corp.

     162,600           9,142,998   
       

 

 

 

Household Durables - 0.6%

  

Panasonic Corp.

     380,700           3,395,126   
       

 

 

 

Internet & Catalog Retail - 3.6%

  

Amazon.com, Inc. (a)

     10,042           6,623,603   

Ctrip.com International Ltd. (ADR) (a)(b)

     213,060           9,291,547   

Netflix, Inc. (a)

     67,510           6,077,925   
       

 

 

 
          21,993,075   
       

 

 

 

Multiline Retail - 1.0%

  

Matahari Department Store Tbk PT

     4,451,000           6,382,125   
       

 

 

 

Textiles, Apparel & Luxury Goods - 2.8%

  

Cie Financiere Richemont SA

     110,310           7,355,494   

NIKE, Inc.-Class B

     171,220           10,091,707   
       

 

 

 
          17,447,201   
       

 

 

 
          79,149,891   
       

 

 

 

Consumer Staples - 11.7%

  

Beverages - 1.9%

  

Anheuser-Busch InBev SA/NV (b)

     95,820             11,886,842   
       

 

 

 

Food & Staples Retailing - 1.2%

  

CVS Health Corp.

     71,920           7,227,960   
       

 

 

 

Food Products - 5.3%

  

Danone SA

     100,220           7,021,754   

Mead Johnson Nutrition Co.-Class A

     73,090           6,369,793   

Nestle SA (REG)

     150,840           11,258,645   

Universal Robina Corp.

     1,713,890           7,610,732   
       

 

 

 
          32,260,924   
       

 

 

 

Household Products - 3.3%

  

Reckitt Benckiser Group PLC

     117,410           11,437,959   

Unicharm Corp.

     421,600           8,714,922   
       

 

 

 
          20,152,881   
       

 

 

 
          71,528,607   
       

 

 

 

Industrials - 8.3%

  

Aerospace & Defense - 1.4%

  

Hexcel Corp.

     187,286           8,478,437   
       

 

 

 

Building Products - 1.1%

  

Kingspan Group PLC

     249,380           6,567,712   
       

 

 

 

Commercial Services & Supplies - 1.3%

  

China Everbright International Ltd.

     3,032,000           3,406,090   

Stericycle, Inc. (a)

     50,190           4,796,156   
       

 

 

 
          8,202,246   
       

 

 

 

Electrical Equipment - 1.6%

  

Vestas Wind Systems A/S

     133,630           9,565,508   
       

 

 

 


Company

   Shares        U.S. $ Value  

Industrial Conglomerates - 1.6%

  

Danaher Corp.

     104,740           10,133,595   
       

 

 

 

Machinery - 1.3%

  

Xylem, Inc./NY

     189,180           7,903,940   
       

 

 

 
          50,851,438   
       

 

 

 

Materials - 2.8%

  

Chemicals - 2.8%

  

Ecolab, Inc.

     91,210           10,487,326   

LG Chem Ltd.

     24,820           6,438,161   
       

 

 

 
          16,925,487   
       

 

 

 

Utilities - 1.9%

  

Water Utilities - 1.9%

  

American Water Works Co., Inc.

     89,279           6,495,940   

Beijing Enterprises Water Group Ltd. (b)

     8,464,000           5,048,228   
       

 

 

 
          11,544,168   
       

 

 

 

Total Common Stocks
(cost $523,776,250)

          602,418,681   
       

 

 

 

WARRANTS - 0.0%

  

Information Technology - 0.0%

  

Technology Hardware, Storage & Peripherals - 0.0%

  

Thin Film Electronics ASA, expiring 7/14/18 (a)(d)(e)
(cost $0)

     3,143,420           0
       

 

 

 

SHORT-TERM INVESTMENTS - 1.5%

  

Investment Companies - 1.5%

  

AB Fixed Income Shares, Inc. - Government STIF Portfolio, 0.36% (f)(g)
(cost $8,951,278)

     8,951,278           8,951,278   
       

 

 

 

Total Investments Before Security Lending Collateral for Securities Loaned - 99.8%
(cost $532,727,528)

   

       611,369,959   
       

 

 

 

INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED - 10.1%

  

Investment Companies - 10.1%

  

AB Exchange Reserves-Class I, 0.32% (f)(g)
(cost $62,093,943)

     62,093,943           62,093,943   
       

 

 

 


     U.S. $ Value  

Total Investments - 109.9%
(cost $594,821,471) (h)

     673,463,902   

Other assets less liabilities - (9.9)%

     (60,458,457
  

 

 

 

Net Assets - 100.0%

   $ 613,005,445   
  

 

 

 

FORWARD CURRENCY EXCHANGE CONTRACTS

 

Counterparty

   Contracts  to
Deliver

(000)
     In Exchange
For
(000)
     Settlement
Date
     Unrealized
Appreciation/
(Depreciation)
 

Bank of America, NA

   USD      5,547       SEK      46,844         6/17/16       $ 295,360   

Barclays Bank PLC

   CHF      6,209       USD      6,436         6/17/16         (48,815

Barclays Bank PLC

   USD      13,970       AUD      18,853         6/17/16         337,979   

BNP Paribas SA

   USD      4,999       GBP      3,517         6/17/16         140,136   

Citibank, NA

   EUR      5,510       USD      6,279         6/17/16         (38,677

Deutsche Bank AG

   GBP      1,303       USD      1,854         6/17/16         (49,724

Goldman Sachs Bank USA

   CNY      46,890       USD      7,213         6/17/16         (3,830

Goldman Sachs Bank USA

   USD      28,439       JPY      3,188,819         6/17/16         1,564,368   

JPMorgan Chase Bank

   USD      5,413       JPY      587,714         6/17/16         116,753   

Royal Bank of Scotland PLC

   HKD      63,118       USD      8,140         6/17/16         (657

Standard Chartered Bank

   CAD      2,385       USD      1,795         6/17/16         (106,245

Standard Chartered Bank

   CNY      111,548       USD      16,968         6/17/16         (200,192

Standard Chartered Bank

   USD      1,851       GBP      1,303         6/17/16         52,616   

State Street Bank & Trust Co.

   HKD      27,863       USD      3,574         6/17/16         (19,046

State Street Bank & Trust Co.

   USD      12,890       CAD      17,260         6/17/16         866,487   

State Street Bank & Trust Co.

   USD      7,652       EUR      6,774         6/17/16         114,582   

State Street Bank & Trust Co.

   USD      6,278       HKD      48,717         6/17/16         5,027   

UBS AG

   CHF      20,028       USD      20,266         6/17/16         (651,663
                 

 

 

 
                  $ 2,374,459   
                 

 

 

 

 

^ Less than $0.50.

 

(a) Non-income producing security.
(b) Represents entire or partial securities out on loan.
(c) Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. At April 30, 2016, the market value of this security amounted to $4,515,665 or 0.7% of net assets.
(d) Fair valued by the Adviser.
(e) Illiquid security.
(f) To obtain a copy of the fund’s financial statements, please go to the Securities and Exchange Commission’s website at www.sec.gov, or call AB at (800) 227-4618.
(g) Investment in affiliated money market mutual fund. The rate shown represents the 7-day yield as of period end.
(h) As of April 30, 2016, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $105,020,323 and gross unrealized depreciation of investments was $(26,377,892), resulting in net unrealized appreciation of $78,642,431.


Please note: The sector classifications presented herein are based on the Global Industry Classification Standard (GICS) which was developed by Morgan Stanley Capital International and Standard & Poor’s. The components are divided into sector, industry group, and industry sub-indices as classified by the GICS for each of the market capitalization indices in the broad market.

Currency Abbreviations:

 

AUD    -    Australian Dollar
CAD    -    Canadian Dollar
CHF    -    Swiss Franc
CNY    -    Chinese Yuan Renminbi
EUR    -    Euro
GBP    -    Great British Pound
HKD    -    Hong Kong Dollar
JPY    -    Japanese Yen
SEK    -    Swedish Krona
USD    -    United States Dollar

Glossary:

 

ADR    -    American Depositary Receipt
REG    -    Registered Shares

Country Breakdown*

April 30, 2016 (unaudited)

 

  50.3%        

United States

  7.9%        

China

  7.6%        

Switzerland

  5.9%        

United Kingdom

  3.8%        

India

  3.3%        

France

  2.3%        

Netherlands

  2.1%        

Hong Kong

  2.0%        

Japan

  2.0%        

Singapore

  1.9%        

Belgium

  1.6%        

Denmark

  1.4%        

Italy

  6.4%        

Other

  1.5%        

Short-Term

 

 

      
  100.0%        

Total Investments

 

 

      

 

* All data are as of April 30, 2016. The Fund’s country breakdown is expressed as a percentage of total investments (excluding security lending collateral) and may vary over time. “Other” country weightings represent 1.2% or less in the following countries: Austria, Indonesia, Ireland, Mexico, Norway, Philippines and South Korea.


AB Global Thematic Growth Fund

April 30, 2016 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

 

   

Level 1—quoted prices in active markets for identical investments

   

Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

   

Level 3—significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, by pricing vendors, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of April 30, 2016:

 

Investments in Securities:

   Level 1     Level 2     Level 3     Total  

Assets:

        

Common Stocks:

        

Information Technology

   $ 133,067,712      $ 18,606,637      $             – 0  –    $ 151,674,349   

Financials

     49,907,924        64,338,348        – 0  –      114,246,272   

Health Care

     74,677,230        31,821,239        – 0  –      106,498,469   

Consumer Discretionary

     62,017,146        17,132,745        – 0  –      79,149,891   

Consumer Staples

     13,597,753        57,930,854        – 0  –      71,528,607   

Industrials

     37,879,840        12,971,598        – 0  –      50,851,438   

Materials

     10,487,326        6,438,161        – 0  –      16,925,487   

Utilities

     6,495,940        5,048,228        – 0  –      11,544,168   

Warrants

     – 0  –      – 0  –      – 0  –(a)      – 0  – 

Short-Term Investments

     8,951,278        – 0  –      – 0  –      8,951,278   

Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund

     62,093,943        – 0  –      – 0  –      62,093,943   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Investments in Securities

     459,176,092        214,287,810 (b)      – 0  –(a)      673,463,902   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other Financial Instruments (c):

        

Assets:

        

Forward Currency Exchange Contracts

     – 0  –      3,493,308        – 0  –      3,493,308   

Liabilities:

        

Forward Currency Exchange Contracts

     – 0  –      (1,118,849     – 0  –      (1,118,849
  

 

 

   

 

 

   

 

 

   

 

 

 

Total (d)(e)

   $     459,176,092      $     216,662,269      $ – 0  –(a)    $     675,838,361   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(a) Amount less than $0.50.
(b) A significant portion of the Fund’s foreign equity investments are categorized as Level 2 investments since they are valued using fair value prices based on third party vendor modeling tools to the extent available.
(c) Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation/depreciation on the instrument.


(d) An amount of $15,904,960 was transferred from Level 1 to Level 2 due to the above mentioned foreign equity fair valuation using third party vendor modeling tools during the reporting period.
(e) There were no transfers from Level 2 to Level 1 during the reporting period.

The Fund recognizes all transfers between levels of the fair value hierarchy assuming the financial instruments were transferred at the beginning of the reporting period.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value.

 

     Warrants     Total  

Balance as of 7/31/15

   $ – 0  –(a)    $ – 0  –(a) 

Accrued discounts/(premiums)

                 – 0  –                  – 0  – 

Realized gain (loss)

     – 0  –      – 0  – 

Change in unrealized appreciation/depreciation

     – 0  –(a)      – 0  –(a) 

Purchases

     – 0  –      – 0  – 

Sales

     – 0  –      – 0  – 

Transfers in to Level 3

     – 0  –      – 0  – 

Transfers out of Level 3

     – 0  –      – 0  – 
  

 

 

   

 

 

 

Balance as of 4/30/16

   $ – 0  –(a)    $ – 0  –(a) 
  

 

 

   

 

 

 

Net change in unrealized appreciation/depreciation from investments held as of 4/30/16

   $ – 0  –(a)    $ – 0  –(a) 
  

 

 

   

 

 

 

 

(a) Amount less than $0.50.

The Adviser established the Valuation Committee (the “Committee”) to oversee the pricing and valuation of all securities held in the Fund. The Committee operates under pricing and valuation policies and procedures established by the Adviser and approved by the Board, including pricing policies which set forth the mechanisms and processes to be employed on a daily basis to implement these policies and procedures. In particular, the pricing policies describe how to determine market quotations for securities and other instruments. The Committee’s responsibilities include: 1) fair value and liquidity determinations (and oversight of any third parties to whom any responsibility for fair value and liquidity determinations is delegated), and 2) regular monitoring of the Adviser’s pricing and valuation policies and procedures and modification or enhancement of these policies and procedures (or recommendation of the modification of these policies and procedures) as the Committee believes appropriate.

The Committee is also responsible for monitoring the implementation of the pricing policies by the Adviser’s Pricing Group (the “Pricing Group”) and a third party which performs certain pricing functions in accordance with the pricing policies. The Pricing Group is responsible for the oversight of the third party on a day-to-day basis. The Committee and the Pricing Group perform a series of activities to provide reasonable assurance of the accuracy of prices including: 1) periodic vendor due diligence meetings, review of methodologies, new developments and process at vendors, 2) daily compare of security valuation versus prior day for all securities that exceeded established thresholds, and 3) daily review of unpriced, stale, and variance reports with exceptions reviewed by senior management and the Committee.

In addition, several processes outside of the pricing process are used to monitor valuation issues including: 1) performance and performance attribution reports are monitored for anomalous impacts based upon benchmark performance, and 2) portfolio managers review all portfolios for performance and analytics (which are generated using the Adviser’s prices)

A Summary of the Fund’s transactions of investments in affiliated issuers for the quarter ended April 30, 2016 is as follows:

 

      Distributions  

Affiliated Issuer

  Market Value
July 31, 2015
(000)
    Purchases
at Cost
(000)
    Sales
Proceeds
(000)
    Realized
Gain (Loss)
(000)
    Change in
Unrealized
Appr./(Depr.)
(000)
    Market Value
April 30, 2016
(000)
    Income
(000)
    Realized
Gains
(000)
 

AB Fixed Income Shares, Inc. - Government STIF Portfolio

  $ 6,257      $ 94,895      $ 92,201      $     – 0  –    $     – 0  –    $ 8,951      $ 16      $     – 0  – 

AB Exchange Reserves - Class I

        28,676            223,906            190,488        – 0  –      – 0  –          62,094            – 0  –      – 0  – 


ITEM 2. CONTROLS AND PROCEDURES.

(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended) are effective at the reasonable assurance level based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) There were no changes in the registrant’s internal controls over financial reporting that occurred during the second fiscal quarter of the period that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

ITEM 3. EXHIBITS.

The following exhibits are attached to this Form N-Q:

 

EXHIBIT NO.

 

DESCRIPTION OF EXHIBIT

3 (a) (1)   Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
3 (a) (2)   Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant): AB Global Thematic Growth Fund, Inc.
By:   /s/    Robert M. Keith
  Robert M. Keith
  President
Date:   June 24, 2016

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:   /s/    Robert M. Keith
  Robert M. Keith
  President
Date:   June 24, 2016
By:   /s/    Joseph J. Mantineo
  Joseph J. Mantineo
  Treasurer and Chief Financial Officer
Date:   June 24, 2016