Lynx Equity Strategies is a research product for active managers of tech-heavy funds. We cover Semiconductors, Hardware, Software and Cloud Service Providers. We serve institutional clients by providing insights into constellations of names that are in powerful trends. We look beyond traditional sector silos, and we identify commonalities across sectors. Our views and observations are intended to aid active fund managers in their daily decision-making processes. We form our opinions based on mosaic theory, and comment on market-moving events in the context of longer-term underlying strengths, weaknesses, and trends. We also identify and examine divergent fundamentals to make bold changes to our investment outlook based on fast-moving events and cycles, seen in the context of slower-moving sector themes often under-appreciated by investors and analysts. Lynx Equity Strategies, LLC is an independent equity research provider. The Company is not a registered broker dealer or investment adviser. No employee or member of the Company, or immediate family member thereof, exercises investment discretion over securities of any issuer analyzed in this report two days prior and/or two days after this report is issued.

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