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
USA TECHNOLOGIES INC90328S500	COM NO PAR	$91,000	21,232
USA TRUCK INC902925106	COM	$45,000	5,210
USANA HEALTH SCIENCES INC90328M107 · USNA	COM	$341,000	5,576
UTAH MED PRODS INC917488108 · UTMD	COM	$142,000	1,947
V F CORP918204108 · VFC	COM	$12.6m	235,393
VAALCO ENERGY INC91851C201 · EGY	COM NEW	$11,000	10,701
VAIL RESORTS INC91879Q109 · MTN	COM	$27.1m	167,956
VALE S A91912E105 · VALE	ADR	$34.2m	4,483,496
VALE S A91912E204	ADR REPSTG PFD	$4.4m	633,638
VALERO ENERGY CORP NEW91913Y100 · VLO	COM	$140.5m	2,056,596
VALERO ENERGY PARTNERS LP91914J102 · VLO	COM UNT REP LP	$8.9m	201,838
VALHI INC NEW918905100 · VHI	COM	$35,000	10,103
VALIDUS HOLDINGS LTDG9319H102	COM SHS	$2.6m	47,394
VALLEY NATL BANCORP919794107 · VLY	COM	$4.6m	394,763
VALMONT INDS INC920253101 · VMI	COM	$1.8m	12,994
VALSPAR CORP920355104	COM	$11.0m	105,997
VALUE LINE INC920437100 · VALU	COM	$18,000	906
VALVOLINE INC92047W101 · VVV	COM	$308,000	14,333
VANDA PHARMACEUTICALS INC921659108 · VNDA	COM	$1.6m	98,236
VANECK VECTORS ETF TR92189F106	GOLD MINERS ETF	$145,000	6,930
VANECK VECTORS ETF TR92189F361	HIGH YLD MUN ETF	$10.4m	350,000
VANGUARD INDEX FDS922908553	REIT ETF	$33.6m	406,774
VANTIV INC92210H105	CL A	$84.2m	1,413,042
VARIAN MED SYS INC92220P105	COM	$11.2m	125,090
VARONIS SYS INC922280102 · VRNS	COM	$996,000	37,178
VASCO DATA SEC INTL INC92230Y104	COM	$211,000	15,426
VASCULAR SOLUTIONS INC92231M109	COM	$512,000	9,135
VCA INC918194101	COM	$18.1m	263,530
VECTOR GROUP LTD92240M108	COM	$1.1m	49,993
VECTREN CORP92240G101	COM	$2.6m	49,206
VECTRUS INC92242T101 · VVX	COM	$2.0m	85,431
VEDANTA LTD92242Y100	SPONSORED ADR	$420,000	33,850
CEMPRA INC15130J109	COM	$67,000	23,865
CENTENE CORP DEL15135B101 · CNC	COM	$178.2m	3,152,756
CENTENNIAL RESOURCE DEV INC15136A102	CL A	$117,000	5,948
CENTENNIAL RESOURCE DEV INC15136A110	*W EXP 02/23/202	$358,000	42,429
CENTERPOINT ENERGY INC15189T107 · CNP	COM	$14.4m	583,434
CENTERSTATE BANKS INC15201P109	COM	$3.6m	144,133
CENTRAIS ELETRICAS BRASILEIR15234Q108	SPON ADR PFD B	$27,000	3,489
CENTRAL EUROPEAN MEDIA ENTRPG20045202	CL A NEW	$64,000	25,139
CENTRAL GARDEN & PET CO153527106 · CENT	COM	$1.1m	32,324
CENTRAL GARDEN & PET CO153527205 · CENT	CL A NON-VTG	$854,000	27,629
CENTRAL PAC FINL CORP154760409 · CPF	COM NEW	$8.6m	272,307
CENTRAL VALLEY CMNTY BANCORP155685100	COM	$63,000	3,158
CENTURY ALUM CO156431108 · CENX	COM	$230,000	26,838
CENTURY BANCORP INC MASS156432106	CL A NON VTG	$122,000	2,026
CENTURY CASINOS INC156492100 · CNTY	COM	$117,000	14,256
CENTURY CMNTYS INC156504300 · CCS	COM	$122,000	5,811
CENTURYLINK INC156700106	COM	$12.3m	518,828
CENVEO INC15670S402	COM NEW	$13,000	1,842
CERNER CORP156782104	COM	$25.3m	534,896
CERUS CORP157085101 · CERS	COM	$227,000	52,246
CEVA INC157210105 · CEVA	COM	$368,000	10,963
CF INDS HLDGS INC125269100 · CF	COM	$41.8m	1,329,317
CHANNELADVISOR CORP159179100	COM	$188,000	13,073
CHARLES RIV LABS INTL INC159864107 · CRL	COM	$2.1m	27,940
CHART INDS INC16115Q308	COM PAR $0.01	$12.3m	340,942
CHARTER COMMUNICATIONS INC N16119P108 · CHTR	CL A	$121.6m	422,349
CHARTER FINL CORP MD16122W108	COM	$84,000	5,028
CHASE CORP16150R104	COM	$349,000	4,174
CHATHAM LODGING TR16208T102 · CLDT	COM	$3.5m	168,883
CHECK POINT SOFTWARE TECH LTM22465104 · CHKP	ORD	$8.5m	101,062
CHEESECAKE FACTORY INC163072101 · CAKE	COM	$10.5m	175,619
CHEFS WHSE INC163086101 · CHEF	COM	$166,000	10,493
CHEGG INC163092109 · CHGG	COM	$321,000	43,561
CHEMED CORP NEW16359R103 · CHE	COM	$1.4m	8,461
CHEMICAL FINL CORP163731102	COM	$1.9m	35,588
CHEMOCENTRYX INC16383L106	COM	$1.0m	138,294
CHEMOURS CO163851108 · CC	COM	$2.5m	112,963
CHEMTURA CORP163893209	COM NEW	$2.2m	67,201
CHEMUNG FINL CORP164024101 · CHMG	COM	$32,000	868
CHENIERE ENERGY INC16411R208 · LNG	COM NEW	$9.5m	228,753
CHENIERE ENERGY INC16411RAG4	NOTE 4.250% 3/1	$121,000	200,000
CHEROKEE INC DEL NEW16444H102	COM	$21,000	1,956
CHERRY HILL MTG INVT CORP164651101 · CHMI	COM	$9,000	509
CHESAPEAKE ENERGY CORP165167107	COM	$1.9m	271,834
CHESAPEAKE ENERGY CORP165167107	OPTIONSPut	$2.1m	300,000
CHESAPEAKE LODGING TR165240102	SH BEN INT	$1.8m	71,001
CHESAPEAKE UTILS CORP165303108 · CPK	COM	$576,000	8,602
CHEVRON CORP NEW166764100 · CVX	COM	$685.7m	5,826,176
CHIASMA INC16706W102	COM	$13,000	6,599
CHICAGO BRIDGE & IRON CO N V167250109	COM	$2.0m	62,571
CHICAGO RIVET & MACH CO168088102 · CVR	COM	$21,000	494
CHICOS FAS INC168615102	COM	$1.9m	132,522
CHILDRENS PL INC168905107 · PLCE	COM	$6.6m	65,425
ISHARES TR464287721	U.S. TECH ETF	$5.9m	49,279
ISHARES TR464287739	OPTIONSPut	$192,000	2,500
ISHARES TR464287739	U.S. REAL ES ETF	$2.6m	33,644
ISHARES TR464287754	U.S. INDS ETF	$44.5m	368,777
ISHARES TR464287762	US HLTHCARE ETF	$18.5m	128,095
ISHARES TR464287788	U.S. FINLS ETF	$71.4m	704,154
ISHARES TR464287796	U.S. ENERGY ETF	$9.9m	237,378
ISHARES TR464287804	CORE S&P SCP ETF	$2.0m	14,640
ISHARES TR464287812	U.S. CNSM GD ETF	$37.4m	338,129
ISHARES TR464288166	AGENCY BOND ETF	$3.3m	29,697
ISHARES TR464288281	JP MOR EM MK ETF	$183.9m	1,668,594
ISHARES TR464288489	INTL DEV RE ETF	$4.0m	153,200
ISHARES TR464288513	IBOXX HI YD ETF	$1.2bn	14,006,752
ISHARES TR464288513	OPTIONSPut	$31.1m	359,600
ISHARES TR464288513	OPTIONSCall	$6.5m	75,000

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.