Institution

Blackrock Advisors LLC

13F for December 31, 2016, filed February 10, 2017 · SEC CIK 1086364 · Holdings history from March 30, 2006

The latest available holdings for this manager are dated December 31, 2016.

Reported value: $98.8bn
Positions we cover: 1,779
Copy, a year: +10.8%
Copy Sharpe ratio: 0.86

Copy-performance statistics: February 14, 2014 to May 26, 2017. Holdings history can start earlier than the price data used for performance.

Historical holdings

Holdings across the available history, including securities outside our stock coverage. Select a date to view the holdings for that period.

Related reporting managers

SEC notices identify these reporting relationships. Each manager retains its own holdings history; changes in reporting scope can involve several managers.

Reports holdings for Pacific Life Fund Advisors LLC · SEC notice for June 30, 2013
Holdings reported by Blackrock Inc. · SEC notice for March 31, 2017
Holdings reported by Blackrock, Inc. · SEC notice for December 31, 2024

Holdings date Find a security

3,710 reported entries for December 31, 2016.

Issuer	Class / type	Reported value	Quantity
EMERGENT CAP INC29102N105	COM	$452,000	373,774
EMERSON ELEC CO291011104 · EMR	COM	$28.4m	508,975
EMMIS COMMUNICATIONS CORP291525400	COM NEW CL A	$33,000	9,863
EMPIRE DIST ELEC CO291641108	COM	$802,000	23,540
EMPIRE RESORTS INC292052305	COM PAR $0 01	$46,000	2,030
EMPIRE ST RLTY TR INC292104106 · ESRT	CL A	$3.0m	149,640
EMPLOYERS HOLDINGS INC292218104 · EIG	COM	$3.5m	87,185
ENANTA PHARMACEUTICALS INC29251M106 · ENTA	COM	$1.2m	37,209
ENBRIDGE INC29250N105 · ENB	COM	$4.0m	93,800
ENCANA CORP292505104	COM	$150.7m	12,839,982
ENCORE CAP GROUP INC292554102 · ECPG	COM	$350,000	12,227
ENCORE WIRE CORP292562105	COM	$484,000	11,160
ENDO INTL PLCG30401106	SHS	$4.0m	241,827
ENDOCYTE INC29269A102	COM	$54,000	21,319
ENDOLOGIX INC29266S106	COM	$241,000	42,115
ENDURANCE INTL GROUP HLDGS I29272B105	COM	$326,000	35,024
ENDURANCE SPECIALTY HLDGS LTG30397106	SHS	$3.6m	38,443
ENEL AMERICAS S A29274F104	SPONSORED ADR	$317,000	38,640
ENEL GENERACION CHILE S A29244T101	SPONSORED ADR	$447,000	23,000
ENERGEN CORP29265N108	COM	$46.4m	803,924
ENERGIZER HLDGS INC NEW29272W109 · ENR	COM	$1.6m	36,466
ENERGOUS CORP29272C103	COM	$93,000	5,502
ENERGY FOCUS INC29268T300 · EFOI	COM NEW	$19,000	4,423
ENERGY RECOVERY INC29270J100 · ERII	COM	$183,000	17,668
ENERGY TRANSFER EQUITY L P29273V100	COM UT LTD PTN	$4.1m	210,625
ENERGY TRANSFER PRTNRS L P29273R109	UNIT LTD PARTN	$56.1m	1,565,866
ENERNOC INC292764107	COM	$86,000	14,388
ENERSYS29275Y102 · ENS	COM	$1.8m	22,745
ENGILITY HLDGS INC NEW29286C107	COM	$3.0m	90,358
ENI S P A26874R108	SPONSORED ADR	$12.6m	392,070
ENLINK MIDSTREAM PARTNERS LP29336U107	COM UNIT REP LTD	$7.3m	395,533
ENNIS INC293389102 · EBF	COM	$230,000	13,258
ENOVA INTL INC29357K103 · ENVA	COM	$2.2m	174,282
ENPHASE ENERGY INC29355A107 · ENPH	COM	$5,000	5,033
ENPRO INDS INC29355X107 · NPO	COM	$757,000	11,238
ENSCO PLCG3157S106	SHS CLASS A	$1.8m	186,611
ENSIGN GROUP INC29358P101 · ENSG	COM	$574,000	25,825
ENSTAR GROUP LIMITEDG3075P101	SHS	$1.2m	6,176
ENTEGRIS INC29362U104 · ENTG	COM	$3.3m	182,144
ENTELLUS MED INC29363K105	COM	$54,000	2,829
MOLINA HEALTHCARE INC60855R100 · MOH	COM	$1.2m	22,914
MOLSON COORS BREWING CO60871R209 · TAP	CL B	$31.6m	325,243
MOMENTA PHARMACEUTICALS INC60877T100	COM	$509,000	33,815
MONARCH CASINO & RESORT INC609027107 · MCRI	COM	$153,000	5,938
MONDELEZ INTL INC609207105 · MDLZ	CL A	$204.8m	4,619,999
MONEYGRAM INTL INC60935Y208	COM NEW	$193,000	16,376
MONMOUTH REAL ESTATE INVT CO609720107	CL A	$1.3m	86,576
MONOGRAM RESIDENTIAL TR INC60979P105	COM	$2.1m	191,451
MONOLITHIC PWR SYS INC609839105 · MPWR	COM	$18.5m	225,845
MONOTYPE IMAGING HOLDINGS IN61022P100	COM	$425,000	21,426
MONRO MUFFLER BRAKE INC610236101 · MNRO	COM	$6.6m	116,001
MONSANTO CO NEW61166W101	COM	$81.6m	775,810
MONSANTO CO NEW61166W101	OPTIONSCall	$379,000	3,600
MONSTER BEVERAGE CORP NEW61174X109 · MNST	COM	$9.5m	213,179
MOODYS CORP615369105 · MCO	COM	$21.2m	224,551
MOOG INC615394202	CL A	$1.2m	17,724
MORGAN STANLEY617446448 · MS	COM NEW	$690.5m	16,343,362
MORGAN STANLEY CHINA A SH FD617468103 · MS	COM	$10,000	606
MORNINGSTAR INC617700109 · MORN	COM	$788,000	10,715
MOSAIC CO NEW61945C103 · MOS	COM	$34.1m	1,163,605
MOSYS INC619718109	COM	$3,000	14,659
MOTORCAR PTS AMER INC620071100 · MPAA	COM	$254,000	9,433
MOTOROLA SOLUTIONS INC620076307 · MSI	COM NEW	$211.1m	2,546,646
MOVADO GROUP INC624580106 · MOV	COM	$236,000	8,214
MPLX LP55336V100 · MPLX	COM UNIT REP LTD	$44.1m	1,272,505
MRC GLOBAL INC55345K103	COM	$2.7m	135,351
MSA SAFETY INC553498106 · MSA	COM	$1.2m	16,733
MSC INDL DIRECT INC553530106 · MSM	CL A	$15.9m	171,644
MSCI INC55354G100 · MSCI	COM	$5.2m	65,984
MSG NETWORK INC553573106	CL A	$693,000	32,224
MTGE INVT CORP55378A105	COM	$376,000	23,954
MTS SYS CORP553777103 · DDD	COM	$8.4m	148,271
MUELLER INDS INC624756102 · MLI	COM	$1.3m	32,726
MUELLER WTR PRODS INC624758108 · MWA	COM SER A	$4.6m	344,061
MULTI COLOR CORP625383104	COM	$603,000	7,766
MULTI PACKAGING SOLUTIONS ING6331W109	COM	$111,000	7,813
MURPHY OIL CORP626717102 · MUR	COM	$9.9m	317,796
MURPHY USA INC626755102 · MUSA	COM	$9.6m	155,916
MUTUALFIRST FINL INC62845B104	COM	$133,000	4,014
MYERS INDS INC628464109 · MYE	COM	$166,000	11,605
MYLAN N VN59465109	SHS EURO	$165.2m	4,329,926
MYLAN N VSBVFMFG88	OPTIONSCall	$8.2m	215,000
MYOKARDIA INC62857M105	COM	$67,000	5,186
MYOVANT SCIENCES LTDG637AM102	COM	$7.3m	586,442
MYR GROUP INC DEL55405W104 · MYRG	COM	$349,000	9,260
MYRIAD GENETICS INC62855J104 · MYGN	COM	$1.5m	88,952
NABORS INDUSTRIES LTDG6359F103	SHS	$2.7m	162,698
NACCO INDS INC629579103 · NC	CL A	$199,000	2,196
NANOMETRICS INC630077105	COM	$366,000	14,596
NANOSTRING TECHNOLOGIES INC63009R109	COM	$1.5m	68,884
NANTHEALTH INC630104107	COM	$25,000	2,502
NANTKWEST INC63016Q102	COM	$55,000	9,607
NAPCO SEC TECHNOLOGIES INC630402105 · NSSC	COM	$38,000	4,487
SK TELECOM LTD78440P108	SPONSORED ADR	$9.3m	447,370
SKECHERS U S A INC830566105	CL A	$17.5m	712,318
SKYWEST INC830879102 · SKYW	COM	$979,000	26,869
SKYWORKS SOLUTIONS INC83088M102 · SWKS	COM	$38.0m	509,033
SL GREEN RLTY CORP78440X101 · SLG	COM	$17.9m	166,426
SLM CORP78442P106 · SLM	COM	$129.1m	11,715,087
SM ENERGY CO78454L100 · SM	COM	$14.3m	415,927

Values use the units disclosed in the source. Where a dollar scale cannot be established, the original amount is shown as filed. Rows may include separate allocations, options and principal amounts; these are kept separate from the covered-stock portfolio used for performance.

How copying its 13F would have done

CopyS&P 500 $10,000 copying Blackrock Advisors LLC's usable filed holdings in companies we cover from February 14, 2014, rebalancing at the first weekly close after each usable filing and holding until the next, against the S&P 500 (total return). Missing prices carry their last observed value. Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −13.4% (S&P 500 −11.2%); beta 1.05; alpha −0.6% a year (t = −0.61); last 12 months +22.0% against +20.1%.

Reported value by quarter

Blackrock Advisors LLC: 13F reported value Total reported value where the source's dollar units can be established. Earlier filings in thousands of dollars are converted; dates with unresolved value units are omitted.

View chart data

Period	Reported value
2013-06-30	$95.4B
2013-09-30	$99.4B
2013-12-31	$104B
2014-03-31	$102.1B
2014-06-30	$105.7B
2014-09-30	$100.5B
2014-12-31	$99.3B
2015-03-31	$97.6B
2015-06-30	$96.2B
2015-09-30	$93.3B
2015-12-31	$94.4B
2016-03-31	$95.3B
2016-06-30	$98.5B
2016-09-30	$97.2B
2016-12-31	$98.8B

Latest covered holdings and moves

Covered holdings as of December 31, 2016.

Company	Share of portfolio	Value	Shares	Change in shares
BACBank of America	2.02%	$2.0bn	90.06M	+8.5% Added
JPMJPMorgan Chase	1.96%	$1.9bn	22.46M	−8.0% Reduced
PFEPfizer	1.82%	$1.8bn	55.45M	+16.3% Added
AAPLApple Inc.	1.78%	$1.8bn	15.22M	−4.4% Reduced
CCitigroup	1.52%	$1.5bn	25.26M	+8.5% Added
MSFTMicrosoft Corporation	1.41%	$1.4bn	22.44M	+2.1% Added
UNHUnitedHealth Group	1.24%	$1.2bn	7.64M	+0.6% Added
WFCWells Fargo	1.09%	$1.1bn	19.63M	−11.9% Reduced
CMCSAComcast	1.08%	$1.1bn	15.48M	−2.1% Reduced
JNJJohnson & Johnson	0.85%	$842.0m	7.31M	−18.6% Reduced
MRKMerck & Co.	0.83%	$820.7m	13.94M	−13.7% Reduced
AMZNAmazon	0.83%	$815.8m	1.09M	+22.4% Added
MPCMarathon Petroleum	0.72%	$716.2m	14.22M	−5.8% Reduced
GOOGLAlphabet Inc. (Class A)	0.71%	$700.8m	884.3K	−12.2% Reduced
QCOMQualcomm	0.71%	$699.5m	10.73M	−8.2% Reduced
VZVerizon	0.70%	$696.5m	13.05M	−3.1% Reduced
HDThe Home Depot	0.70%	$696.3m	5.19M	−17.1% Reduced
MSMorgan Stanley	0.70%	$690.5m	16.34M	+26.4% Added
CVXChevron Corporation	0.69%	$685.7m	5.83M	+6.0% Added
ELVElevance Health	0.69%	$685.4m	4.77M	−2.7% Reduced
GSGoldman Sachs	0.64%	$628.8m	2.63M	−0.3%
CSCOCisco	0.61%	$607.5m	20.10M	−13.8% Reduced
GILDGilead Sciences	0.61%	$604.2m	8.44M	+3.5% Added
METAMeta Platforms	0.60%	$595.1m	5.17M	−24.4% Reduced
USBU.S. Bancorp	0.60%	$592.7m	11.54M	−23.2% Reduced
ORCLOracle Corporation	0.56%	$554.4m	14.42M	+24.1% Added
NEENextEra Energy	0.56%	$552.6m	4.63M	+17.6% Added
OXYOccidental Petroleum	0.48%	$477.5m	6.70M	−3.8% Reduced
INTCIntel	0.48%	$476.9m	13.15M	+13.0% Added
KRKroger	0.47%	$461.8m	13.38M	−10.8% Reduced
MOAltria	0.47%	$459.7m	6.80M	−20.2% Reduced
PRUPrudential Financial	0.46%	$449.4m	4.32M	−13.1% Reduced
AIGAmerican International Group	0.45%	$444.0m	6.80M	−13.1% Reduced
SUSuncor Energy Inc	0.42%	$411.7m	12.59M	+10.0% Added
BIIBBiogen	0.42%	$410.8m	1.45M	+21.7% Added
KOThe Coca-Cola Company	0.42%	$410.5m	9.90M	−16.8% Reduced
DGXQuest Diagnostics	0.41%	$405.2m	4.41M	+19.2% Added
METMetLife	0.40%	$398.4m	7.39M	−13.6% Reduced
LOWLowe's	0.38%	$376.8m	5.30M	+55.3% Added
NOCNorthrop Grumman	0.38%	$376.5m	1.62M	−4.9% Reduced
MDTMedtronic	0.38%	$374.2m	5.25M	−9.3% Reduced
BAXBaxter International	0.38%	$370.7m	8.36M	+10.9% Added
AMGNAmgen	0.37%	$363.4m	2.49M	−29.9% Reduced
HUMHumana	0.37%	$362.7m	1.78M	+76.6% Added
PGProcter & Gamble	0.37%	$361.4m	4.30M	−1.6% Reduced
EXCExelon	0.36%	$360.7m	10.16M	−1.7% Reduced
SLBSchlumberger	0.36%	$353.3m	4.21M	−4.7% Reduced
DALDelta Air Lines	0.35%	$349.0m	7.09M	+64.5% Added
VVisa Inc.	0.34%	$341.1m	4.37M	−25.2% Reduced
ZBHZimmer Biomet	0.31%	$308.8m	2.99M	+19.3% Added
BDXBecton Dickinson	0.31%	$306.2m	1.85M	−8.2% Reduced
LMTLockheed Martin	0.31%	$305.1m	1.22M	−3.2% Reduced
DGDollar General	0.31%	$302.3m	4.08M	−27.0% Reduced
PEGPublic Service Enterprise Group	0.29%	$282.4m	6.43M	−2.2% Reduced
UPSUnited Parcel Service	0.28%	$280.8m	2.45M	−9.5% Reduced
DVNDevon Energy	0.28%	$275.9m	6.04M	+0.5% Added
DDominion Energy	0.28%	$275.7m	3.60M	−14.5% Reduced
ROPRoper Technologies	0.28%	$271.8m	1.48M	+12.1% Added
UALUnited Airlines Holdings	0.27%	$270.8m	3.72M	−13.7% Reduced
ALLAllstate	0.26%	$255.0m	3.44M	−4.7% Reduced
IPInternational Paper	0.26%	$252.6m	4.76M	−4.7% Reduced
TRVThe Travelers Companies	0.25%	$245.6m	2.01M	−17.7% Reduced
PMPhilip Morris International	0.24%	$240.8m	2.63M	−3.5% Reduced
SPGSimon Property Group	0.24%	$239.7m	1.35M	+39.7% Added
MMM3M	0.24%	$239.2m	1.34M	−1.2% Reduced
MRSHMarsh McLennan	0.24%	$234.4m	3.47M	−2.2% Reduced
CVSCVS Health	0.23%	$231.5m	2.93M	−1.7% Reduced
BSXBoston Scientific	0.23%	$231.2m	10.69M	−24.9% Reduced
BABAAlibaba Group Holding Ltd	0.23%	$225.6m	2.57M	+0.5%
BKNGBooking Holdings	0.22%	$220.9m	150.7K	+0.8% Added
COFCapital One	0.22%	$220.6m	2.53M	−4.4% Reduced
UNPUnion Pacific Corporation	0.22%	$218.8m	2.11M	−9.7% Reduced
CMECME Group	0.22%	$214.5m	1.86M	−41.1% Reduced
MAMastercard	0.22%	$214.5m	2.08M	−6.7% Reduced
MSIMotorola Solutions	0.21%	$211.1m	2.55M	−3.7% Reduced
BMYBristol Myers Squibb	0.21%	$209.5m	3.59M	−9.2% Reduced
MDLZMondelez International	0.21%	$204.8m	4.62M	−27.9% Reduced
KEYKeyCorp	0.20%	$199.3m	10.91M	+13.1% Added
COPConocoPhillips	0.20%	$198.9m	3.97M	−1.7% Reduced
HCAHCA Healthcare	0.20%	$197.6m	2.67M	+689.4% Added
LEALear Corp	0.19%	$191.0m	1.44M	−20.5% Reduced
NFLXNetflix	0.19%	$189.0m	1.53M	−13.5% Reduced
EPCEdgewell Personal Care Co	0.19%	$187.9m	2.57M	+5.0% Added
GPNGlobal Payments	0.19%	$186.5m	2.69M	−5.6% Reduced
CTSHCognizant	0.19%	$186.5m	3.33M	+53.2% Added
APDAir Products	0.19%	$183.7m	1.28M	+161.7% Added
CBChubb Limited	0.18%	$179.5m	1.36M	+0.6% Added
CNCCentene Corporation	0.18%	$178.2m	3.15M	−6.7% Reduced
LUVSouthwest Airlines	0.18%	$176.7m	3.55M	−21.8% Reduced
LRCXLam Research	0.18%	$173.5m	1.64M	−9.3% Reduced
STZConstellation Brands	0.17%	$172.9m	1.13M	−5.5% Reduced
CMGChipotle Mexican Grill	0.17%	$172.8m	457.9K	+1.4% Added
NKENike, Inc.	0.17%	$168.9m	3.32M	+21.6% Added
PEPPepsiCo	0.17%	$168.6m	1.61M	+8.1% Added
AXTAAxalta Coating Systems Ltd.	0.17%	$168.3m	6.19M	+3.1% Added
CICigna	0.17%	$166.5m	1.25M	−1.5% Reduced
CMSCMS Energy	0.17%	$165.5m	3.98M	−2.8% Reduced
AESAES Corporation	0.17%	$164.7m	14.17M	−2.0% Reduced
PRGOPerrigo Co plc	0.17%	$164.4m	1.98M	+50.4% Added
VRTXVertex Pharmaceuticals	0.16%	$156.0m	2.12M	+27.2% Added
EOGEOG Resources	0.16%	$156.0m	1.54M	−14.2% Reduced
SYKStryker Corporation	0.16%	$155.4m	1.30M	−9.7% Reduced
VISNVistance Networks, Inc.	0.16%	$153.9m	4.14M	−9.4% Reduced
IVZInvesco	0.15%	$152.8m	5.04M	−15.8% Reduced
VLOValero Energy	0.15%	$149.4m	2.26M	−1.8% Reduced
LLYLilly (Eli)	0.15%	$148.7m	2.02M	−58.2% Reduced
GAPGAP Inc	0.15%	$144.0m	6.42M	−4.2% Reduced
JOEST JOE Co	0.14%	$143.4m	7.54M	−8.9% Reduced
ABBVAbbVie	0.14%	$141.1m	2.25M	+2.0% Added
SRESempra	0.14%	$138.8m	1.38M	+27.0% Added
TGTTarget Corporation	0.14%	$137.1m	1.90M	−33.9% Reduced
ZTSZoetis	0.14%	$136.2m	2.54M	+35.7% Added
HLTHilton Worldwide	0.14%	$135.9m	5.00M	+714.1% Added
TAT&T	0.13%	$132.3m	3.11M	+0.9% Added
REGNRegeneron Pharmaceuticals	0.13%	$131.0m	356.9K	−40.8% Reduced
SLMSLM Corp	0.13%	$129.1m	11.72M	−26.1% Reduced
SBUXStarbucks	0.13%	$129.0m	2.32M	+31.2% Added
SHWSherwin-Williams	0.13%	$128.9m	479.8K	+14.0% Added
NVDANVIDIA Corporation	0.13%	$128.5m	1.20M	−40.2% Reduced
MCDMcDonald's	0.13%	$123.8m	1.02M	−9.2% Reduced
HRBH&R Block Inc	0.13%	$123.3m	5.36M	+18.3% Added
FEFirstEnergy	0.13%	$123.2m	3.98M	+347.8% Added
ABTAbbott Laboratories	0.12%	$121.9m	3.17M	−0.3%
CHTRCharter Communications	0.12%	$121.6m	422.3K	+3.8% Added
SCHWCharles Schwab Corporation	0.12%	$118.9m	3.01M	+14.7% Added
ASMLAsml Holding NV	0.12%	$117.6m	1.05M	+81.1% Added
HIGThe Hartford	0.12%	$117.4m	2.46M	−23.6% Reduced
TMOThermo Fisher Scientific	0.12%	$115.9m	821.1K	−49.0% Reduced
ISRGIntuitive Surgical	0.12%	$115.5m	182.2K	+13.1% Added
EQIXEquinix	0.12%	$115.4m	322.9K	+195.4% Added
AYIAcuity Inc. (de)	0.12%	$115.4m	499.7K	+29.5% Added
DISThe Walt Disney Company	0.12%	$114.2m	1.10M	+0.9% Added
WMBWilliams Companies	0.12%	$113.6m	3.65M	−4.6% Reduced
WYWeyerhaeuser	0.12%	$113.5m	3.77M	−2.6% Reduced
INTUIntuit	0.11%	$109.1m	952.1K	−2.9% Reduced
MCKMcKesson	0.11%	$108.9m	775.5K	−34.2% Reduced
NSCNorfolk Southern	0.11%	$108.0m	999.8K	−33.9% Reduced
KMBKimberly-Clark	0.11%	$107.7m	944.1K	+422.5% Added
SBACSBA Communications	0.11%	$106.5m	1.03M	−15.0% Reduced
EQTEQT Corporation	0.11%	$106.4m	1.63M	−4.5% Reduced
CCICrown Castle	0.11%	$105.1m	1.21M	+18.3% Added
OMCOmnicom Group	0.11%	$105.0m	1.23M	−0.1%
PKGPackaging Corporation of America	0.10%	$103.5m	1.22M	−14.1% Reduced
EFXEquifax	0.10%	$103.4m	874.4K	+178.4% Added
DVADaVita	0.10%	$101.8m	1.58M	−31.4% Reduced
TSMTaiwan Semiconductor Manufacturing Co LTD	0.10%	$100.5m	3.50M	+218.9% Added
RFRegions Financial Corporation	0.10%	$100.4m	6.99M	+29.6% Added
GTGoodyear Tire & Rubber Co	0.10%	$94.0m	3.04M	+27.1% Added
FFord Motor Company	0.10%	$93.4m	7.70M	−5.9% Reduced
IBMIBM	0.09%	$91.1m	549.0K	+4.6% Added

Company	Bought (value)	Shares
PFEPfizer	$253.0m	7.79M
HCAHCA Healthcare	$172.6m	2.33M
HUMHumana	$157.3m	770.8K
BACBank of America	$156.2m	7.07M
AMZNAmazon	$149.3m	199.1K
MSMorgan Stanley	$144.2m	3.41M
DALDelta Air Lines	$136.8m	2.78M
LOWLowe's	$134.1m	1.89M
HLTHilton Worldwide	$119.2m	4.38M
CCitigroup	$117.5m	1.98M
APDAir Products	$113.5m	789.4K
ORCLOracle Corporation	$107.7m	2.80M
FEFirstEnergy	$95.7m	3.09M
KMBKimberly-Clark	$87.1m	763.4K
NEENextEra Energy	$82.8m	692.9K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
LLYLilly (Eli)	−$207.1m	−2.82M
METAMeta Platforms	−$192.3m	−1.67M
JNJJohnson & Johnson	−$191.9m	−1.67M
USBU.S. Bancorp	−$179.0m	−3.48M
ALLYAlly Financial Inc.	−$171.0m	−8.99M
TEVATeva Pharmaceutical Industries LTD	−$168.7m	−4.65M
JPMJPMorgan Chase	−$168.2m	−1.95M
AMGNAmgen	−$155.0m	−1.06M
CMECME Group	−$149.6m	−1.30M
WFCWells Fargo	−$145.9m	−2.65M
HDThe Home Depot	−$143.5m	−1.07M
MRKMerck & Co.	−$130.7m	−2.22M
TXTTextron	−$117.3m	−2.42M
MOAltria	−$116.0m	−1.72M
VVisa Inc.	−$114.8m	−1.47M

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Value last quarter	Shares
CCJCameco Corp	$35.6m	4.15M
ERICEricsson LM Telephone Co	$16.8m	2.33M
AEMAgnico Eagle Mines LTD	$2.4m	44.0K

Financials22.3%
Health Care19.9%
Technology13.5%
Consumer Discretionary8.6%
Industrials6.9%
Communication Services6.6%
Energy6.5%
Consumer Staples6.1%
Utilities4.3%
Real Estate2.9%
Materials2.4%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestFebruary 14, 2014 to May 26, 2017	+10.8%	+10.9%	0.86	0.91	−13.4%	1.05
Last three yearsMay 30, 2014 to May 26, 2017	+10.4%	+10.1%	0.82	0.84	−13.4%	1.05
Last yearMay 27, 2016 to May 26, 2017	+19.2%	+17.4%	1.81	1.84	−4.3%	1.11

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.