Validea Guru Stock Report - Piotroski Portfolio February 10th 2017

Validea has developed portfolios based on the investment strategies of history's most successful stock pickers, including Peter Lynch, Warren Buffett, Benjamin Graham, Martin Zweig, Ken Fisher and Joel Greenblatt. Each month, the portfolios are rebalanced and the top rated Canadian stocks are selected for the portfolio. This report contains the current holdings in the Book/Market Investor model portfolio based on the strategy of Joseph Piotroski. From 8/6/2010 to 02/09/2016, this portfolio has returned -0.5% vs. 32.4% for the TSX (price returns only).