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
115%Electronic Technology
213%Finance
311%Technology Services
410%Producer Manufacturing
59%Health Technology
66%Consumer Services
76%Commercial Services
86%Consumer Non-Durables
96%Energy Minerals
104%Transportation
114%Health Services
122%Non-Energy Minerals
132%Consumer Durables
142%Industrial Services
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

Sunrun Inc RUN

Aug
2021

Mary G. Powell

6.75%

$2,636,733,803

14.66%

10.06%

Electronic Technology

02

Chart Industries Inc GTLS

June
2018

Jillian C. Evanko MBA

4.19%

$7,635,447,223

29.29%

5.34%

Producer Manufacturing

03

Alnylam Pharmaceuticals Inc ALNY

Jan
2022

Yvonne L. Greenstreet MD

3.98%

$38,031,686,745

88.04%

20.20%

Health Technology

04

Woodside Energy Group Ltd - ADR WDS

Aug
2021

Meg O’Neill

3.91%

$26,178,828,347.382

40.27%

N/A%

Energy Minerals

05

Jackson Financial Inc - Ordinary Shares - Class A JXN

Feb
2021

Laura Prieskorn

3.85%

$6,075,132,005

N/A%

N/A%

Finance

06

Blackstone Mortgage Trust Inc - Ordinary Shares - Class A BXMT

June
2021

Katharine A. Keenan

3.69%

$3,318,360,803

82.78%

-31.84%

Finance

07

Halozyme Therapeutics Inc. HALO

Jan
2014

Helen I. Torley MD

3.17%

$6,586,162,580

75.02%

35.22%

Health Technology

08

Federal Signal Corp. FSS

Jan
2016

Jennifer L Sherman

2.44%

$5,809,720,967

27.62%

9.16%

Producer Manufacturing

09

Upwork Inc UPWK

Jan
2020

Hayden Brown

2.34%

$2,165,969,712

78.31%

0.93%

Commercial Services

10

nVent Electric plc NVT

May
2018

Beth A. Wozniak MBA

2.25%

$10,884,071,034

38.76%

-7.47%

Electronic Technology

11

International Seaways Inc INSW

Dec
2016

Lois K. Zabrocky

2.23%

$1,884,719,409

34.06%

-33.17%

Transportation

12

Arista Networks Inc ANET

Oct
2008

Jayshree V. Ullal

2.23%

$120,153,996,768

63.65%

27.58%

Electronic Technology

13

Parsons Corp PSN

Jul
2018

Carey Smith

2.22%

$7,296,354,850

22.77%

1.22%

Technology Services

14

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

Sept
2020

Meredith Kopit Levien

2.20%

$9,028,068,802

44.01%

7.05%

Consumer Services

15

Tootsie Roll Industries, Inc. TR

Jan
2015

Ellen R. Gordon

2.17%

$2,988,537,720

35.93%

-3.08%

Consumer Non-Durables

16

Parker-Hannifin Corp. PH

Jan
2023

Jennifer A. Parmentier

2.12%

$86,895,432,446

37.00%

-2.25%

Electronic Technology

17

Reliance Steel & Aluminum Co. RS

Jan
2023

Karla Renee Lewis CPA

2.11%

$15,983,628,534

27.68%

-4.39%

Non-Energy Minerals

18

Advanced Micro Devices Inc. AMD

Oct
2014

Lisa T. Su PhD

2.07%

$184,045,605,202

45.98%

35.90%

Electronic Technology

19

HubSpot Inc HUBS

Sept
2021

Yamini Rangan MBA

2.05%

$33,844,334,201

83.88%

15.67%

Technology Services

20

Citigroup Inc C

Mar
2021

Jane Fraser

2.04%

$141,760,986,322

N/A%

-4.81%

Finance

21

Accenture plc - Ordinary Shares - Class A ACN

Sept
2019

Julie Spellman Sweet

2.03%

$200,440,941,781

29.85%

5.44%

Technology Services

22

Centene Corp. CNC

Jan
2022

Sarah McGinty London MBA

2.02%

$30,831,481,228

N/A%

15.38%

Health Services

23

Progressive Corp. PGR

July
2016

Susan Patricia Griffith

2.01%

$167,443,059,103

N/A%

18.36%

Finance

24

General Motors Company GM

Jan
2014

Mary Barra

1.95%

$48,273,638,089

12.13%

2.34%

Consumer Durables

25

Exponent Inc. EXPO

May
2018

Catherine Ford Corrigan

1.94%

$4,025,607,386

33.98%

0.40%

Industrial Services

26

Trip.com Group Ltd - ADR TCOM

Nov
2016

Jane Sun

1.91%

$42,566,015,590.004

80.44%

14.76%

Consumer Services

27

Elevance Health Inc ELV

Jan
2017

Gail Koziara Boudreaux MBA

1.86%

$93,195,761,290

N/A%

14.83%

Health Services

28

Equity Lifestyle Properties Inc. ELS

Feb
2013

Marguerite M. Nader

1.85%

$13,087,170,212

40.36%

-0.86%

Finance

29

AMN Healthcare Services Inc. AMN

Nov
2021

Cary Grace MBA

1.84%

$878,248,028

23.24%

-16.00%

Commercial Services

30

Vail Resorts Inc. MTN

Nov
2021

Kirsten A. Lynch

1.84%

$5,629,818,606

43.86%

5.50%

Consumer Services

31

Celanese Corp - Ordinary Shares - Series A CE

May
2019

Lori J. Ryerkerk

1.83%

$5,877,363,722

18.21%

-8.50%

Process Industries

32

Southwest Gas Holdings Inc SWX

May
2022

Karen S. Haller

1.82%

$5,110,114,435

17.29%

-17.99%

Utilities

33

MillerKnoll Inc MLKN

Jul
2021

Andi Owen

1.82%

$1,170,660,325

37.94%

0.45%

Producer Manufacturing

34

Hershey Company HSY

Mar
2017

Michele G. Buck MBA

1.79%

$31,545,451,080

35.58%

-13.75%

Consumer Non-Durables

35

ArcBest Corp ARCB

Jan
2010

Judy R. McReynolds CPA

1.79%

$1,515,586,106

5.74%

-6.69%

Transportation

36

Bellring Brands Inc BRBR

Oct
2019

Darcy Horn Davenport MBA

1.78%

$8,295,425,172

33.33%

18.88%

Consumer Non-Durables

37

Integral Ad Science Holding Corp IAS

Jan
2019

Lisa Utzschneider

1.77%

$1,341,582,509

65.25%

17.06%

Technology Services

38

Trinity Industries, Inc. TRN

Feb
2020

E. Jean Savage

1.77%

$2,169,272,492

25.09%

-27.69%

Producer Manufacturing

39

Vertex Pharmaceuticals, Inc. VRTX

April
2020

Reshma Kewalramani MD

1.71%

$114,834,561,150

86.78%

2.19%

Health Technology

40

Occidental Petroleum Corp. OXY

May
2016

Vicki A. Hollub

1.70%

$41,235,161,231

36.28%

11.22%

Energy Minerals

41

WEX Inc WEX

May
2013

Melissa D. Smith CPA

1.69%

$4,695,954,621

53.06%

-2.47%

Commercial Services

42

Pagerduty Inc PD

July
2016

Jennifer Tejada

1.67%

$1,481,944,039

82.39%

8.54%

Technology Services

43

Workiva Inc - Ordinary Shares - Class A WK

Apr
2023

Julie Iskow

1.58%

$3,952,082,134

76.56%

17.43%

Technology Services

44

Intra-Cellular Therapies Inc ITCI

June
2002

Sharon Mates PhD

0.00%

$14,046,999,697

91.63%

46.62%

Health Technology

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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