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
ACI WORLDWIDE INC004498101 · ACIW	COM	$1.1m	62,492
ACLARIS THERAPEUTICS INC00461U105 · ACRS	COM	$184,000	6,784
ACNB CORP000868109 · ACNB	COM	$78,000	2,511
ACORDA THERAPEUTICS INC00484M106	COM	$1.1m	59,765
ACTINIUM PHARMACEUTICALS INC00507W107 · ATNM	COM	$7,000	8,447
ACTIVISION BLIZZARD INC00507V109	COM	$233.9m	6,477,692
DYNAVAX TECHNOLOGIES CORP268158201	COM NEW	$81,000	20,434
EVEREST RE GROUP LTDG3223R108 · EG	COM	$10.9m	50,177
EVERI HLDGS INC30034T103	COM	$429,000	197,642
EVERSOURCE ENERGY30040W108 · ES	COM	$23.0m	415,764
EVERTEC INC30040P103 · EVTC	COM	$593,000	33,416
EVINE LIVE INC300487105	CL A	$15,000	9,678
EVOLENT HEALTH INC30050B101 · EVH	CL A	$123,000	8,295
EVOLUTION PETROLEUM CORP30049A107 · EPM	COM	$1.3m	132,262
EVOLVING SYS INC30049R209	COM NEW	$9,000	2,275
EXA CORP300614500	COM	$739,000	48,104
EXACT SCIENCES CORP30063P105	COM	$2.7m	200,079
EXACTECH INC30064E109	COM	$154,000	5,642
EXAR CORP300645108	COM	$258,000	23,891
EXCO RESOURCES INC269279402	COM	$67,000	76,746
EXELIXIS INC30161Q104 · EXEL	COM	$4.9m	331,399
EXELON CORP30161N101 · EXC	COM	$360.7m	10,162,409
EXLSERVICE HOLDINGS INC302081104 · EXLS	COM	$875,000	17,355
EXONE CO302104104	COM	$52,000	5,589
EXPEDIA INC DEL30212P303 · EXPE	COM NEW	$70.9m	626,116
EXPEDITORS INTL WASH INC302130109 · EXPD	COM	$17.6m	333,096
EXPONENT INC30214U102 · EXPO	COM	$818,000	13,558
EXPRESS INC30219E103	COM	$6.6m	612,849
EXPRESS SCRIPTS HLDG CO30219G108	COM	$51.2m	743,978
EXTENDED STAY AMER INC30224P200	UNIT 99/99/9999B	$786,000	48,643
EXTERRAN CORP30227H106	COM	$416,000	17,400
EXTRA SPACE STORAGE INC30225T102 · EXR	COM	$12.6m	163,062
EXTRACTION OIL AND GAS INC30227M105	COM	$294,000	14,683
EXTREME NETWORKS INC30226D106 · EXTR	COM	$281,000	55,868
EXXON MOBIL CORP30231G102	COM	$717.8m	7,952,652
EYEGATE PHARMACEUTICALS INC30233M115	*W EXP 08/05/202	$14,000	46,688
EZCORP INC302301106 · EZPW	CL A NON VTG	$6.5m	613,680
F M C CORP302491303 · FMC	COM NEW	$19.0m	336,034
F5 NETWORKS INC315616102 · FFIV	COM	$11.5m	79,356
FABRINETG3323L100 · FN	SHS	$8.0m	198,688
FACEBOOK INC30303M102 · META	CL A	$595.1m	5,172,947
FACTSET RESH SYS INC303075105 · FDS	COM	$3.8m	23,536
FAIR ISAAC CORP303250104 · FICO	COM	$2.0m	16,629
FAIRMOUNT SANTROL HLDGS INC30555Q108	COM	$941,000	79,805
FAIRPOINT COMMUNICATIONS INC305560302	COM NEW	$532,000	28,438
FALCONSTOR SOFTWARE INC306137100	COM	$6,000	12,659
FAMOUS DAVES AMER INC307068106	COM	$7,000	1,498
FARMER BROS CO307675108	COM	$174,000	4,751
FARMERS CAP BK CORP309562106	COM	$189,000	4,485
FARMERS NATL BANC CORP309627107 · FMNB	COM	$147,000	10,338
FARMLAND PARTNERS INC31154R109 · FPI	COM	$73,000	6,513
FARO TECHNOLOGIES INC311642102	COM	$4.7m	130,342
FASTENAL CO311900104 · FAST	COM	$16.2m	344,642
FATE THERAPEUTICS INC31189P102 · FATE	COM	$10,000	4,030
FB FINL CORP30257X104 · FBK	COM	$84,000	3,246
FBL FINL GROUP INC30239F106	CL A	$414,000	5,303
FBR & CO30247C400	COM NEW	$54,000	4,122
FCB FINL HLDGS INC30255G103	CL A	$979,000	20,521
FEDERAL AGRIC MTG CORP313148306 · AGM	CL C	$282,000	4,927
FEDERAL MOGUL HOLDINGS CORP313549404	COM	$157,000	15,243
FEDERAL REALTY INVT TR313747206	SH BEN INT NEW	$19.2m	134,908
FEDERAL SIGNAL CORP313855108 · FSS	COM	$494,000	31,625
FEDERATED INVS INC PA314211103 · FHI	CL B	$1.4m	50,738
FEDERATED NATL HLDG CO31422T101	COM	$144,000	7,708
FEDEX CORP31428X106 · FDX	COM	$25.5m	137,114
LADDER CAP CORP505743104 · LADR	CL A	$363,000	26,426
LADENBURG THALMAN FIN SVCS I50575Q102	COM	$140,000	57,295
LAKE SUNAPEE BK GROUP510866106	COM	$76,000	3,221
LAKELAND BANCORP INC511637100	COM	$461,000	23,660
LAKELAND FINL CORP511656100 · LKFN	COM	$622,000	13,135
LAKELAND INDS INC511795106 · LAKE	COM	$22,000	2,101
LAM RESEARCH CORP512807108 · LRCX	COM	$173.5m	1,640,758
LAMAR ADVERTISING CO NEW512816109 · LAMR	CL A	$3.3m	49,620
LAMB WESTON HLDGS INC513272104 · LW	COM	$3.1m	82,576
LANCASTER COLONY CORP513847103 · MZTI	COM	$2.0m	14,122
LANDAUER INC51476K103	COM	$14.4m	299,080
LANDEC CORP514766104 · LFCR	COM	$207,000	14,972
LANDS END INC NEW51509F105 · LE	COM	$110,000	7,291
LANDSTAR SYS INC515098101 · LSTR	COM	$2.1m	25,022
LANNET INC516012101	COM	$332,000	15,053
LANTHEUS HLDGS INC516544103 · LNTH	COM	$30,000	3,455
LANTRONIX INC516548203 · LTRX	COM NEW	$15,000	9,095
LAREDO PETROLEUM INC516806106	COM	$1.2m	84,532
LAS VEGAS SANDS CORP517834107 · LVS	COM	$16.8m	314,735
LASALLE HOTEL PPTYS517942108	COM SH BEN INT	$4.0m	130,061
LATTICE SEMICONDUCTOR CORP518415104 · LSCC	COM	$473,000	64,261
LAUDER ESTEE COS INC518439104 · EL	CL A	$25.7m	336,308
LAWSON PRODS INC520776105 · DSGR	COM	$59,000	2,476
LAYNE CHRISTENSEN CO521050104	COM	$118,000	10,872
LAZARD LTDG54050102 · LAZ	SHS A	$3.1m	76,344
LCNB CORP50181P100 · LCNB	COM	$77,000	3,332
LEAR CORP521865204 · LEA	COM NEW	$191.0m	1,443,127
LEE ENTERPRISES INC523768109 · LEE	COM	$25,000	8,464
LEGACY TEX FINL GROUP INC52471Y106	COM	$1.1m	24,654
LEGG MASON INC524901105	COM	$1.8m	60,407
LEGGETT & PLATT INC524660107	COM	$5.0m	102,302
LEIDOS HLDGS INC525327102 · LDOS	COM	$4.1m	80,421
LEMAITRE VASCULAR INC525558201 · LMAT	COM	$2.4m	92,890
LENDINGCLUB CORP52603A109	COM	$903,000	172,081
LENDINGTREE INC NEW52603B107 · TREE	COM	$356,000	3,513

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.