Markets don't like female leaders.

Big mistake.

Pink Chip indices measure the performance of women-led companies against global benchmarks. They prove women are better for business, whether markets like it or not.

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TOP

SECTORS

i

All

SECTORS

i

#%of indexNameof sector
114%Health Technology
214%Finance
312%Electronic Technology
411%Technology Services
510%Producer Manufacturing
66%Commercial Services
76%Energy Minerals
86%Consumer Services
95%Consumer Non-Durables
104%Transportation
113%Health Services
122%Industrial Services
132%Non-Energy Minerals
142%Consumer Durables
152%Process Industries
162%Utilities

Top ten

Holdings

Ranked by index %, displayed with market cap size.

i

All

Companies

i

Holding

Ticker

Female lead

since

CEO

Name

% of Index

Index

Mkt Cap

(USD)

Gross Income

(1Y)

Rev Growth

(1Y)

Industry

Sector

01

Alnylam Pharmaceuticals Inc ALNY

Jan
2022

Yvonne L. Greenstreet MD

5.10%

$29,800,198,727

86.65%

54.82%

Health Technology

02

Sunrun Inc RUN

Aug
2021

Mary G. Powell

4.64%

$3,754,969,692

2.95%

-22.32%

Electronic Technology

03

Chart Industries Inc GTLS

June
2018

Jillian C. Evanko MBA

4.22%

$7,101,120,811

26.79%

76.74%

Producer Manufacturing

04

Jackson Financial Inc - Ordinary Shares - Class A JXN

Feb
2021

Laura Prieskorn

4.15%

$6,413,831,794

N/A%

57.01%

Finance

05

Blackstone Mortgage Trust Inc - Ordinary Shares - Class A BXMT

June
2021

Katharine A. Keenan

4.03%

$3,405,718,817

96.07%

-0.17%

Finance

06

Woodside Energy Group Ltd - ADR WDS

Aug
2021

Meg O’Neill

3.82%

$36,162,035,381.682

41.23%

-16.71%

Energy Minerals

07

Halozyme Therapeutics Inc. HALO

Jan
2014

Helen I. Torley MD

3.78%

$6,916,069,292

76.47%

20.81%

Health Technology

08

Intra-Cellular Therapies Inc ITCI

June
2002

Sharon Mates PhD

3.58%

$8,074,365,035

93.17%

52.00%

Health Technology

09

Federal Signal Corp. FSS

Jan
2016

Jennifer L Sherman

2.04%

$5,855,925,633

26.45%

10.22%

Producer Manufacturing

10

MillerKnoll Inc MLKN

Jul
2021

Andi Owen

2.04%

$2,072,510,331

39.12%

-11.22%

Producer Manufacturing

11

ArcBest Corp ARCB

Jan
2010

Judy R. McReynolds CPA

1.99%

$2,768,214,009

7.26%

-6.30%

Transportation

12

Exponent Inc. EXPO

May
2018

Catherine Ford Corrigan

1.99%

$5,365,474,755

25.08%

3.30%

Industrial Services

13

Upwork Inc UPWK

Jan
2020

Hayden Brown

1.97%

$1,530,005,968

76.85%

18.70%

Commercial Services

14

Parker-Hannifin Corp. PH

Jan
2023

Jennifer A. Parmentier

1.96%

$70,970,048,070

35.43%

0.25%

Electronic Technology

15

New York Times Co. - Ordinary Shares - Class A NYT

Sept
2020

Meredith Kopit Levien

1.94%

$9,008,893,717

43.17%

5.93%

Consumer Services

16

AMN Healthcare Services Inc. AMN

Nov
2021

Cary Grace MBA

1.94%

$2,173,818,032

26.17%

-27.11%

Commercial Services

17

Citigroup Inc C

Mar
2021

Jane Fraser

1.93%

$123,029,852,600

N/A%

11.86%

Finance

18

Integral Ad Science Holding Corp IAS

Jan
2019

Lisa Utzschneider

1.93%

$1,685,706,779

63.99%

7.95%

Technology Services

19

Reliance Steel & Aluminum Co. RS

Jan
2023

Karla Renee Lewis CPA

1.93%

$17,383,035,257

29.21%

-8.08%

Non-Energy Minerals

20

Accenture plc - Ordinary Shares - Class A ACN

Sept
2019

Julie Spellman Sweet

1.92%

$207,652,718,601

33.45%

-0.59%

Technology Services

21

WEX Inc WEX

May
2013

Melissa D. Smith CPA

1.90%

$7,726,039,731

55.26%

6.65%

Commercial Services

22

Equity Lifestyle Properties Inc. ELS

Feb
2013

Marguerite M. Nader

1.90%

$12,631,365,554

33.66%

1.49%

Finance

23

Vertex Pharmaceuticals, Inc. VRTX

April
2020

Reshma Kewalramani MD

1.90%

$127,971,265,396

87.25%

14.21%

Health Technology

24

Tootsie Roll Industries, Inc. TR

Jan
2015

Ellen R. Gordon

1.90%

$2,276,929,422

32.93%

-5.50%

Consumer Non-Durables

25

Hershey Company HSY

Mar
2017

Michele G. Buck MBA

1.88%

$28,237,404,758

45.53%

8.87%

Consumer Non-Durables

26

General Motors Company GM

Jan
2014

Mary Barra

1.86%

$56,545,880,434

13.74%

7.58%

Consumer Durables

27

Progressive Corp. PGR

July
2016

Susan Patricia Griffith

1.85%

$126,686,557,976

N/A%

15.73%

Finance

28

Trinity Industries, Inc. TRN

Feb
2020

E. Jean Savage

1.85%

$2,585,194,145

20.16%

26.16%

Producer Manufacturing

29

Celanese Corp - Ordinary Shares - Series A CE

May
2019

Lori J. Ryerkerk

1.83%

$15,261,290,049

19.76%

-8.48%

Process Industries

30

Vail Resorts Inc. MTN

Nov
2021

Kirsten A. Lynch

1.83%

$6,800,540,857

52.83%

3.62%

Consumer Services

31

Arista Networks Inc ANET

Oct
2008

Jayshree V. Ullal

1.82%

$107,245,383,649

63.73%

16.28%

Electronic Technology

32

International Seaways Inc INSW

Dec
2016

Lois K. Zabrocky

1.81%

$2,908,882,117

60.77%

-4.43%

Transportation

33

Occidental Petroleum Corp. OXY

May
2016

Vicki A. Hollub

1.81%

$54,271,036,479

33.99%

-12.71%

Energy Minerals

34

Southwest Gas Holdings Inc SWX

May
2022

Karen S. Haller

1.80%

$5,304,233,477

11.45%

-1.39%

Utilities

35

Parsons Corp PSN

Jul
2018

Carey Smith

1.80%

$8,330,777,538

21.15%

30.87%

Technology Services

36

Workiva Inc - Ordinary Shares - Class A WK

Apr
2023

Julie Iskow

1.78%

$3,693,449,682

76.36%

16.96%

Technology Services

37

nVent Electric plc NVT

May
2018

Beth A. Wozniak MBA

1.78%

$12,859,832,552

40.65%

18.09%

Electronic Technology

38

Trip.com Group Ltd - ADR TCOM

Nov
2016

Jane Sun

1.75%

$30,160,587,031.725

81.20%

23.20%

Consumer Services

39

Pagerduty Inc PD

July
2016

Jennifer Tejada

1.75%

$1,993,260,323

82.60%

7.68%

Technology Services

40

Centene Corp. CNC

Jan
2022

Sarah McGinty London MBA

1.75%

$35,296,007,902

N/A%

3.90%

Health Services

41

Advanced Micro Devices Inc. AMD

Oct
2014

Lisa T. Su PhD

1.73%

$251,934,830,781

39.61%

2.24%

Electronic Technology

42

Elevance Health Inc ELV

Jan
2017

Gail Koziara Boudreaux MBA

1.70%

$116,844,979,226

N/A%

-0.06%

Health Services

43

Bellring Brands Inc BRBR

Oct
2019

Darcy Horn Davenport MBA

1.62%

$6,622,124,460

32.37%

28.27%

Consumer Non-Durables

44

HubSpot Inc HUBS

Sept
2021

Yamini Rangan MBA

1.50%

$24,615,368,879

84.60%

23.08%

Technology Services

index

Criteria

i

01

A Female ceo

Companies must have a female¹ CEO.

Why?

Women are hugely underrepresented at the CEO position, making up just 6% of CEOs globally. The decisions that these leaders make have a huge impact on a business’ performance while they are at the helm.

02

>$2BN MARKET CAP, US LISTED

Companies must be listed on a US stock exchange and have a minimum market cap of US$ 2 billion.

Why?

For now, Pink Chip focuses on mid and large-cap companies listed on US exchanges. This is an intentional choice designed to constrain the universe of the index.

03

>8% CAGR OVER 3 YEARS

Companies must have demonstrated revenue growth of at least 8% over the last 3 years.

Why?

Think of this as a quality control measure. By only including companies that have have demonstrated sustained, impactful growth over a 3 year-window, we can control for the glass cliff effect².

1 Please note that when we speak of “Female”, we are inclusive of all female-identifying people.

2 Research has shown that women are more likely than men to be appointed to boards or positions of leadership in companies experiencing consistently bad performance. This phenomenon is called the glass cliff, and it means women are more likely to be ‘caretaker CEOs’ than their male counterparts. Source: Ryan, M. And Haslam, S. (2005).

Index

Methodology

i

PINK CHIP IS A WEIGHTED INDEX.

Of the companies that meet our criteria, we only include those that are in the top 50th percentile based on 3-year revenue growth rates. Of those companies, we overweight the companies in the top 20th percentile.

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FAQ

Why “Pink Chip”?

In the world of finance and trading, investors refer to stocks as "chips" and categorise them based on colour. Blue chips, for example, are stocks of companies that are considered as large, well-known and highly valued companies, while "green chips" refer to companies working in green energy, sustainability or other activities associated with environmentalism.

Pink Chip represents an entirely new financial category in which “pink” refers to the power that women bring to the businesses that they lead.

Are women better for business?

Are markets biased against women?

Can I invest in Pink Chip?

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