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
COMSTOCK HLDG COS INC205684202 · CHCI	CL A NEW	$3,000	1,729
COMSTOCK RES INC205768302 · CRK	COM	$29,000	2,950
COMTECH TELECOMMUNICATIONS C205826209 · CMTL	COM NEW	$143,000	12,057
CONAGRA BRANDS INC205887102 · CAG	COM	$18.3m	461,995
CONCERT PHARMACEUTICALS INC206022105	COM	$719,000	69,847
CONCHO RES INC20605P101	COM	$89.9m	677,784
CONCURRENT COMPUTER CORP NEW206710402	COM PAR $.01	$20,000	3,805
CONDOR HOSPITALITY TR INC20676Y106	COM	$2,000	985
CONFORMIS INC20717E101	COM	$110,000	13,562
CONMED CORP207410101 · CNMD	COM	$615,000	13,923
CONNECTICUT WTR SVC INC207797101	COM	$318,000	5,695
CONNECTONE BANCORP INC NEW20786W107 · CNOB	COM	$450,000	17,324
CONNS INC208242107	COM	$141,000	11,151
CONOCOPHILLIPS20825C104 · COP	COM	$198.9m	3,966,643
CONSOL ENERGY INC20854P109	COM	$3.5m	192,457
CONSOLIDATED COMM HLDGS INC209034107	COM	$699,000	26,045
CONSOLIDATED EDISON INC209115104 · ED	COM	$25.3m	343,353
CONSOLIDATED TOMOKA LD CO210226106	COM	$135,000	2,524
CONSOLIDATED WATER CO INCG23773107 · CWCO	ORD	$53,000	4,909
CONSTELLATION BRANDS INC21036P108 · STZ	CL A	$172.9m	1,128,013
CONSUMER PORTFOLIO SVCS INC210502100 · CPSS	COM	$1.2m	239,941
CONTAINER STORE GROUP INC210751103	COM	$57,000	9,043
CONTANGO OIL & GAS COMPANY21075N204	COM NEW	$117,000	12,508
CONTINENTAL BLDG PRODS INC211171103	COM	$4.8m	206,193
CONTINENTAL RESOURCES INC212015101	COM	$5.9m	114,501
CONTRAFECT CORP212326110	*W EXP 01/31/201	$0	5,229
CONTRAVIR PHARMACEUTICALS IN21234W103	COM	$22,000	18,000
CONTROL4 CORP21240D107	COM	$127,000	12,410
CONTROLADORA VUELA CIA DE AV21240E105	SPON ADR RP 10	$827,000	55,000
CONVERGYS CORP212485106	COM	$7.0m	283,293
COOPER COS INC216648402	COM NEW	$11.1m	63,727
COOPER STD HLDGS INC21676P103 · CPS	COM	$5.4m	52,450
COOPER TIRE & RUBR CO216831107	COM	$1.1m	28,965
COPA HOLDINGS SAP31076105	CL A	$4.8m	52,451
COPART INC217204106 · CPRT	COM	$3.2m	58,094
CORBUS PHARMACEUTICALS HLDGS21833P103 · CRBP	COM	$52,000	6,152
CORCEPT THERAPEUTICS INC218352102 · CORT	COM	$1.9m	254,885
CORE LABORATORIES N VN22717107	COM	$5.2m	43,544
CARBO CERAMICS INC140781105	COM	$8.0m	762,040
HEICO CORP NEW422806109 · HEI	COM	$915,000	11,858
HEICO CORP NEW422806208	CL A	$4.9m	72,661
HEIDRICK & STRUGGLES INTL IN422819102	COM	$232,000	9,610
HELEN OF TROY CORP LTDG4388N106 · HELE	COM	$1.3m	14,948
HELIX ENERGY SOLUTIONS GRP I42330P107 · HOS	COM	$2.0m	229,601
HELMERICH & PAYNE INC423452101 · HP	COM	$30.9m	399,833
HEMISPHERE MEDIA GROUP INC42365Q103	CL A	$23,000	2,092
HEMISPHERX BIOPHARMA INC42366C301	COM NEW	$4,000	5,727
HENNESSY ADVISORS INC425885100 · HNNA	COM	$39,000	1,215
HENNESSY CAP ACQUISITION COR42588J100	COM	$93,000	9,232
HENNESSY CAP ACQUISITION COR42588J118	*W EXP 07/28/202	$8,000	9,232
HENRY JACK & ASSOC INC426281101 · JKHY	COM	$4.1m	46,116
HERBALIFE LTDG4412G101 · HLF	COM USD SHS	$2.1m	43,115
HERC HLDGS INC42704L104 · HRI	COM	$572,000	14,247
HERC HLDGS INC42704L104 · HRI	OPTIONSPut	$4.0m	100,000
HERITAGE COMMERCE CORP426927109	COM	$229,000	15,856
HERITAGE CRYSTAL CLEAN INC42726M106	COM	$128,000	8,167
HERITAGE FINL CORP WASH42722X106 · HFWA	COM	$508,000	19,709
HERITAGE INS HLDGS INC42727J102 · HRTG	COM	$5.7m	363,373
HERITAGE OAKS BANCORP42724R107	COM	$104,000	8,469
HERON THERAPEUTICS INC427746102 · HRTX	COM	$217,000	16,567
HERSHA HOSPITALITY TR427825500	PR SHS BEN INT	$1.1m	52,742
HERSHEY CO427866108 · HSY	COM	$19.0m	183,528
HERTZ GLOBAL HLDGS INC42806J106	COM	$936,000	43,415
HESKA CORP42805E306	COM RESTRC NEW	$1.5m	21,057
HESS CORP42809H107	COM	$382.5m	6,139,962
HEWLETT PACKARD ENTERPRISE C42824C109 · HPE	COM	$22.0m	949,015
HEWLETT PACKARD ENTERPRISE C42824C109 · HPE	OPTIONSPut	$5.6m	240,000
HEXCEL CORP NEW428291108 · HXL	COM	$24.4m	474,894
HFF INC40418F108	CL A	$567,000	18,752
HIBBETT SPORTS INC428567101	COM	$8.1m	217,861
HIGHWOODS PPTYS INC431284108 · HIW	COM	$11.7m	229,284
HILL INTERNATIONAL INC431466101	COM	$87,000	19,931
HILL ROM HLDGS INC431475102	COM	$2.1m	38,235
HILLENBRAND INC431571108	COM	$10.8m	280,698
HILLTOP HOLDINGS INC432748101 · HTH	COM	$1.2m	40,722
HILTON WORLDWIDE HLDGS INC43300A104 · HLT	COM	$135.9m	4,996,461
INTERNATIONAL BUSINESS MACHS459200101 · IBM	COM	$91.1m	548,961
INTERNATIONAL FLAVORS&FRAGRA459506101 · IFF	COM	$11.2m	95,315
INTERNATIONAL GAME TECHNOLOGG4863A108 · BRSL	SHS USD	$1.1m	41,856
INTERNATIONAL SEAWAYS INCY41053102 · INSW	COM	$113,000	8,080
INTERNATIONAL SPEEDWAY CORP460335201	CL A	$488,000	13,256
INTERPUBLIC GROUP COS INC460690100	COM	$42.9m	1,830,654
INTERSECT ENT INC46071F103	COM	$182,000	15,054
INTERSIL CORP46069S109	CL A	$1.6m	73,630
INTERXION HOLDING N.VN47279109	SHS	$5.5m	156,500
INTEVAC INC461148108	COM	$47,000	5,485
INTL FCSTONE INC46116V105	COM	$328,000	8,285
INTL PAPER CO460146103 · IP	COM	$252.6m	4,761,249
INTRA CELLULAR THERAPIES INC46116X101	COM	$4.3m	287,051
INTRALINKS HLDGS INC46118H104	COM	$592,000	43,764
INTRAWEST RESORTS HLDGS INC46090K109	COM	$207,000	11,616
INTREPID POTASH INC46121Y102 · IPI	COM	$18,000	8,477
INTREXON CORP46122T102	COM	$854,000	35,142
OBALON THERAPEUTICS INC67424L100	COM	$18,000	2,089
OCCIDENTAL PETE CORP DEL674599105 · OXY	COM	$477.5m	6,703,530
OCEAN PWR TECHNOLOGIES INC674870407	COM PAR $	$3,000	1,146
OCEANEERING INTL INC675232102 · OII	COM	$6.9m	243,578
OCEANFIRST FINL CORP675234108 · OCFC	COM	$451,000	15,020
OCLARO INC67555N206	COM NEW	$2.3m	252,543
OCULAR THERAPEUTIX INC67576A100 · OCUL	COM	$54,000	6,508

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.