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
116%Health Technology
214%Finance
311%Technology Services
410%Electronic Technology
510%Producer Manufacturing
66%Energy Minerals
75%Consumer Non-Durables
85%Commercial Services
95%Consumer Services
104%Transportation
114%Health Services
122%Utilities
132%Non-Energy Minerals
142%Industrial Services
152%Process Industries
162%Consumer Durables

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

Intra-Cellular Therapies Inc ITCI

June
2002

Sharon Mates PhD

5.69%

$13,552,451,712

91.27%

39.00%

Health Technology

02

Halozyme Therapeutics Inc. HALO

Jan
2014

Helen I. Torley MD

4.59%

$7,293,923,992

76.84%

34.28%

Health Technology

03

Blackstone Mortgage Trust Inc - Ordinary Shares - Class A BXMT

June
2021

Katharine A. Keenan

4.03%

$3,274,678,038

94.89%

-17.20%

Finance

04

Alnylam Pharmaceuticals Inc ALNY

Jan
2022

Yvonne L. Greenstreet MD

4.02%

$34,694,574,059

82.85%

-33.26%

Health Technology

05

Chart Industries Inc GTLS

June
2018

Jillian C. Evanko MBA

3.87%

$8,294,641,757

29.57%

18.33%

Producer Manufacturing

06

Woodside Energy Group Ltd - ADR WDS

Aug
2021

Meg O’Neill

3.86%

$29,176,334,571.692

N/A%

-16.71%

Energy Minerals

07

Jackson Financial Inc - Ordinary Shares - Class A JXN

Feb
2021

Laura Prieskorn

3.85%

$6,804,884,725

N/A%

-18.61%

Finance

08

Sunrun Inc RUN

Aug
2021

Mary G. Powell

3.01%

$1,817,148,988

15.00%

-4.62%

Electronic Technology

09

International Seaways Inc INSW

Dec
2016

Lois K. Zabrocky

2.35%

$1,959,842,776

45.24%

-6.83%

Transportation

10

Citigroup Inc C

Mar
2021

Jane Fraser

2.18%

$152,251,580,165

N/A%

8.97%

Finance

11

Vertex Pharmaceuticals, Inc. VRTX

April
2020

Reshma Kewalramani MD

2.12%

$117,232,486,838

86.30%

12.00%

Health Technology

12

Southwest Gas Holdings Inc SWX

May
2022

Karen S. Haller

2.06%

$5,537,176,287

7.76%

-7.72%

Utilities

13

HubSpot Inc HUBS

Sept
2021

Yamini Rangan MBA

2.03%

$40,496,106,723

85.17%

20.12%

Technology Services

14

Progressive Corp. PGR

July
2016

Susan Patricia Griffith

2.02%

$150,887,478,382

N/A%

21.36%

Finance

15

Reliance Steel & Aluminum Co. RS

Jan
2023

Karla Renee Lewis CPA

1.98%

$15,718,690,178

27.44%

-5.59%

Non-Energy Minerals

16

Accenture plc - Ordinary Shares - Class A ACN

Sept
2019

Julie Spellman Sweet

1.97%

$243,943,429,486

32.96%

9.03%

Technology Services

17

Elevance Health Inc ELV

Jan
2017

Gail Koziara Boudreaux MBA

1.96%

$90,732,840,363

N/A%

3.19%

Health Services

18

Federal Signal Corp. FSS

Jan
2016

Jennifer L Sherman

1.95%

$6,056,258,320

28.81%

6.23%

Producer Manufacturing

19

Parker-Hannifin Corp. PH

Jan
2023

Jennifer A. Parmentier

1.94%

$87,690,149,578

36.50%

-1.63%

Electronic Technology

20

AMN Healthcare Services Inc. AMN

Nov
2021

Cary Grace MBA

1.94%

$932,425,464

25.01%

-19.44%

Commercial Services

21

Pagerduty Inc PD

July
2016

Jennifer Tejada

1.93%

$1,693,112,229

82.96%

9.41%

Technology Services

22

Integral Ad Science Holding Corp IAS

Jan
2019

Lisa Utzschneider

1.91%

$1,732,440,294

67.34%

10.97%

Technology Services

23

Occidental Petroleum Corp. OXY

May
2016

Vicki A. Hollub

1.89%

$45,612,857,624

36.70%

-2.54%

Energy Minerals

24

Bellring Brands Inc BRBR

Oct
2019

Darcy Horn Davenport MBA

1.88%

$9,770,044,571

36.67%

23.82%

Consumer Non-Durables

25

MillerKnoll Inc MLKN

Jul
2021

Andi Owen

1.87%

$1,540,393,176

38.85%

2.20%

Producer Manufacturing

26

Equity Lifestyle Properties Inc. ELS

Feb
2013

Marguerite M. Nader

1.86%

$13,360,222,369

37.31%

1.24%

Finance

27

Trinity Industries, Inc. TRN

Feb
2020

E. Jean Savage

1.86%

$3,058,108,455

21.07%

-2.74%

Producer Manufacturing

28

Exponent Inc. EXPO

May
2018

Catherine Ford Corrigan

1.85%

$4,620,073,404

25.48%

4.05%

Industrial Services

29

ArcBest Corp ARCB

Jan
2010

Judy R. McReynolds CPA

1.85%

$2,199,558,907

5.85%

-5.61%

Transportation

30

nVent Electric plc NVT

May
2018

Beth A. Wozniak MBA

1.81%

$11,064,082,902

40.22%

-7.89%

Electronic Technology

31

Celanese Corp - Ordinary Shares - Series A CE

May
2019

Lori J. Ryerkerk

1.81%

$7,303,148,998

21.53%

-2.75%

Process Industries

32

Arista Networks Inc ANET

Oct
2008

Jayshree V. Ullal

1.80%

$147,190,297,877

64.15%

19.97%

Electronic Technology

33

Tootsie Roll Industries, Inc. TR

Jan
2015

Ellen R. Gordon

1.79%

$2,128,803,136

34.31%

-9.57%

Consumer Non-Durables

34

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

Sept
2020

Meredith Kopit Levien

1.77%

$8,125,582,535

46.15%

6.59%

Consumer Services

35

Centene Corp. CNC

Jan
2022

Sarah McGinty London MBA

1.76%

$28,974,201,481

N/A%

5.89%

Health Services

36

Upwork Inc UPWK

Jan
2020

Hayden Brown

1.75%

$2,035,750,321

77.60%

10.27%

Commercial Services

37

Trip.com Group Ltd - ADR TCOM

Nov
2016

Jane Sun

1.74%

$43,324,806,308.43

82.36%

16.80%

Consumer Services

38

Advanced Micro Devices Inc. AMD

Oct
2014

Lisa T. Su PhD

1.74%

$180,035,106,365

43.73%

13.69%

Electronic Technology

39

Hershey Company HSY

Mar
2017

Michele G. Buck MBA

1.72%

$32,024,704,109

43.21%

0.33%

Consumer Non-Durables

40

General Motors Company GM

Jan
2014

Mary Barra

1.71%

$46,466,589,120

17.39%

9.08%

Consumer Durables

41

Vail Resorts Inc. MTN

Nov
2021

Kirsten A. Lynch

1.69%

$6,227,120,937

-41.52%

0.66%

Consumer Services

42

WEX Inc WEX

May
2013

Melissa D. Smith CPA

1.65%

$6,159,650,541

55.98%

3.14%

Commercial Services

43

Workiva Inc - Ordinary Shares - Class A WK

Apr
2023

Julie Iskow

1.47%

$5,596,425,281

76.47%

17.35%

Technology Services

44

Parsons Corp PSN

Jul
2018

Carey Smith

1.47%

$8,159,635,295

19.90%

27.60%

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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