Institution

Blackrock Group Ltd

13F for December 31, 2016, filed February 10, 2017 · SEC CIK 1003283 · Holdings history from March 31, 1999

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

Reported value: $210.1bn
Positions we cover: 1,570
Copy, a year: +13.6%
Copy Sharpe ratio: 1.14

Copy-performance statistics: August 16, 2013 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.

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

2,974 reported entries for December 31, 2016.

Issuer	Class / type	Reported value	Quantity
XERIUM TECHNOLOGIES INC98416J118	COM NEW	$108,000	19,235
XEROX CORP984121103 · XRX	COM	$86.3m	9,880,181
XILINX INC983919101	COM	$194.3m	3,217,948
XILINX INC983919AF8	NOTE 2.625% 6/1	$515,000	245,000
XINYUAN REAL ESTATE CO LTD98417P105	SPONS ADR	$108,000	21,819
XL GROUP LTDG98294104	COM	$98.2m	2,636,104
XO GROUP INC983772104	COM	$863,000	44,360
XPO LOGISTICS INC983793100 · XPO	COM	$3.3m	75,488
XUNLEI LTD98419E108 · XNET	SPONSORED ADR	$49,000	12,583
XYLEM INC98419M100 · XYL	COM	$92.1m	1,860,621
YADKIN FINL CORP984305102	COM	$639,000	18,645
YAHOO INC984332106	COM	$285.0m	7,369,190
PENN NATL GAMING INC707569109 · PENN	COM	$4.4m	320,105
PENNANTPARK FLOATING RATE CA70806A106 · PFLT	COM	$2.5m	179,973
PENNANTPARK INVT CORP708062104 · PNNT	COM	$3.7m	484,566
PENNEY J C INC708160106	COM	$3.3m	398,796
RUDOLPH TECHNOLOGIES INC781270103	COM	$1.3m	57,215
RUSH ENTERPRISES INC781846209 · RUSHA	CL A	$810,000	25,413
RUTHS HOSPITALITY GROUP INC783332109	COM	$1.3m	71,119
RYANAIR HLDGS PLC783513203 · RYAAY	SPONSORED ADR NE	$9.5m	114,607
RYDER SYS INC783549108 · R	COM	$10.8m	145,760
RYERSON HLDG CORP783754104 · RYZ	COM	$480,000	35,942
RYMAN HOSPITALITY PPTYS INC78377T107 · RHP	COM	$22.1m	350,266
S & T BANCORP INC783859101 · STBA	COM	$3.1m	78,448
S&P GLOBAL INC78409V104 · SPGI	COM	$250.3m	2,327,965
SABRA HEALTH CARE REIT INC78573L106 · SBRA	COM	$13.9m	570,973
SABRE CORP78573M104 · SABR	COM	$44.6m	1,786,431
TFS FINL CORP87240R107 · TFSL	COM	$1.2m	63,264
TG THERAPEUTICS INC88322Q108 · TGTX	COM	$87,000	18,955
THERAPEUTICSMD INC88338N107	COM	$706,000	122,441
THERAVANCE BIOPHARMA INCG8807B106	COM	$1.2m	38,390
THERMO FISHER SCIENTIFIC INC883556102 · TMO	COM	$473.8m	3,358,212
THERMON GROUP HLDGS INC88362T103	COM	$301,000	15,744
THIRD PT REINS LTDG8827U100	COM	$285,000	24,709
THL CR INC872438106	COM	$2.3m	226,659
THOMSON REUTERS CORP884903105 · TRI	COM	$309,000	7,049
THOR INDS INC885160101 · THO	COM	$5.9m	58,660
TICC CAPITAL CORP87244T109	COM	$2.3m	354,286
TIDEWATER INC886423102	COM	$201,000	58,926
TIER REIT INC88650V208	COM NEW	$5.4m	307,890
TIFFANY & CO NEW886547108	COM	$122.0m	1,575,198
TILE SHOP HLDGS INC88677Q109	COM	$1.4m	69,174
TILLYS INC886885102 · TLYS	CL A	$520,000	39,414
NMI HLDGS INC629209305 · NMIH	CL A	$1.2m	109,836
NN INC629337106 · NNBR	COM	$257,000	13,439
NOAH HLDGS LTD65487X102 · NOAH	SPON ADS CL A	$886,000	40,402
NOBLE CORP PLCG65431101	SHS USD	$2.7m	463,167
NOBLE ENERGY INC655044105	COM	$199.8m	5,250,273
NOKIA CORP654902204	SPONSORED ADR	$4.8m	998,996
NOMAD HLDGS LTDG6564A105 · NOMD	USD ORD SHS	$4.4m	461,488
NORBORD INC65548P403	COM NEW	$149,000	5,883
NORD ANGLIA EDUCATION INCG6583A102	SHS	$486,000	20,841
NORDIC AMERICAN TANKERS LIMIG65773106 · NAT	COM	$80,000	9,558
NORDSON CORP655663102 · NDSN	COM	$10.7m	95,840
NORDSTROM INC655664100	COM	$51.8m	1,080,223
PROGRESS SOFTWARE CORP743312100 · PRGS	COM	$3.4m	107,416
PROGRESSIVE CORP OHIO743315103 · PGR	COM	$168.8m	4,756,156
PROLOGIS INC74340W103 · PLD	COM	$389.0m	7,369,002
RAYMOND JAMES FINANCIAL INC754730109 · RJF	COM	$33.9m	490,102
RAYONIER ADVANCED MATLS INC75508B104 · RYAM	COM	$1.3m	86,584
RAYONIER INC754907103 · RYN	COM	$9.0m	337,622
RAYTHEON CO755111507	COM NEW	$435.5m	3,067,204
SPECTRUM BRANDS HLDGS INC84763R101	COM	$12.2m	99,403
SPECTRUM PHARMACEUTICALS INC84763A108	COM	$855,000	192,939
SPEEDWAY MOTORSPORTS INC847788106	COM	$86,000	3,969
SPIRE INC84857L101 · SR	COM	$6.0m	92,287
SPIRIT AEROSYSTEMS HLDGS INC848574109	COM CL A	$6.9m	118,798
SPIRIT AIRLS INC848577102	COM	$766,000	13,256
SPIRIT RLTY CAP INC NEW84860W102	COM	$34.5m	3,179,912
SPLUNK INC848637104	COM	$42.6m	833,132
ANALOGIC CORP032657207	COM PAR $0.05	$2.4m	28,980
ANDERSONS INC034164103 · ANDE	COM	$2.5m	56,482
ANGIES LIST INC034754101	COM	$170,000	20,744
ANGIODYNAMICS INC03475V101 · ANGO	COM	$1.1m	63,000
ANGLOGOLD ASHANTI LTD035128206 · AU	SPONSORED ADR	$237.8m	22,626,599
ANHEUSER BUSCH INBEV SA/NV03524A108 · BUD	SPONSORED ADR	$1.4m	13,529
ANI PHARMACEUTICALS INC00182C103 · ANIP	COM	$853,000	14,066
ANIKA THERAPEUTICS INC035255108 · ANIK	COM	$1.6m	32,877
ANIXTER INTL INC035290105	COM	$5.2m	63,668
AMC NETWORKS INC00164V103 · AMCX	CL A	$3.6m	68,113
AMDOCS LTDG02602103 · DOX	SHS	$55.3m	948,856
AMEDISYS INC023436108	COM	$31.9m	748,415
AMERCO023586100 · UHAL	COM	$11.0m	29,831
BIO TECHNE CORP09073M104 · TECH	COM	$3.2m	31,416
BIOCRYST PHARMACEUTICALS09058V103 · BCRX	COM	$164,000	25,830
BIOGEN INC09062X103 · BIIB	COM	$621.4m	2,191,369
BIOMARIN PHARMACEUTICAL INC09061G101 · BMRN	COM	$90.4m	1,091,545
BORGWARNER INC099724106 · BWA	COM	$69.3m	1,757,237
BOSTON BEER INC100557107 · SAM	CL A	$3.0m	17,723
BOSTON PRIVATE FINL HLDGS IN101119105	COM	$3.3m	201,147
BOSTON PROPERTIES INC101121101 · BXP	COM	$279.3m	2,220,170
BOSTON SCIENTIFIC CORP101137107 · BSX	COM	$295.1m	13,644,787
BOTTOMLINE TECH DEL INC101388106	COM	$5.0m	201,365
BOX INC10316T104 · BOX	CL A	$195,000	14,118
BOYD GAMING CORP103304101 · BYD	COM	$4.9m	243,773
BP PLC055622104	SPONSORED ADR	$78.6m	2,102,042
BRADY CORP104674106 · BRC	CL A	$3.7m	99,672
CARLISLE COS INC142339100 · CSL	COM	$21.7m	196,580
CARMAX INC143130102 · KMX	COM	$97.9m	1,520,943
CARNIVAL CORP143658300	UNIT 99/99/9999	$206.2m	3,960,177

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 Group Ltd's usable filed holdings in companies we cover from August 16, 2013, 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 −11.4% (S&P 500 −11.2%); beta 1.00; alpha +0.7% a year (t = 1.57); last 12 months +21.2% against +20.1%.

Reported value by quarter

Blackrock Group Ltd: 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	$131.9B
2013-09-30	$149B
2013-12-31	$155.2B
2014-03-31	$159.6B
2014-06-30	$173.9B
2014-09-30	$172.5B
2014-12-31	$186.8B
2015-03-31	$185.5B
2015-06-30	$183.7B
2015-09-30	$170.8B
2015-12-31	$181.7B
2016-03-31	$185.3B
2016-06-30	$192.8B
2016-09-30	$198.7B
2016-12-31	$210.1B

Latest covered holdings and moves

Covered holdings as of December 31, 2016.

Company	Share of portfolio	Value	Shares	Change in shares
AAPLApple Inc.	2.67%	$5.6bn	48.46M	+2.4% Added
MSFTMicrosoft Corporation	1.95%	$4.1bn	65.82M	+1.2% Added
JNJJohnson & Johnson	1.40%	$2.9bn	25.59M	+1.3% Added
JPMJPMorgan Chase	1.33%	$2.8bn	32.32M	+2.3% Added
AMZNAmazon	1.21%	$2.5bn	3.40M	+5.9% Added
METAMeta Platforms	1.11%	$2.3bn	20.20M	+11.8% Added
TAT&T	1.04%	$2.2bn	51.29M	+4.2% Added
WFCWells Fargo	1.03%	$2.2bn	39.40M	−1.8% Reduced
PFEPfizer	1.01%	$2.1bn	65.10M	+10.6% Added
BACBank of America	1.00%	$2.1bn	95.10M	+4.1% Added
CVXChevron Corporation	0.94%	$2.0bn	16.81M	+3.9% Added
GOOGLAlphabet Inc. (Class A)	0.91%	$1.9bn	2.42M	+3.2% Added
VZVerizon	0.91%	$1.9bn	35.81M	+2.2% Added
PGProcter & Gamble	0.90%	$1.9bn	22.37M	+1.2% Added
CSCOCisco	0.80%	$1.7bn	55.53M	+4.1% Added
CCitigroup	0.78%	$1.6bn	27.59M	+4.6% Added
INTCIntel	0.77%	$1.6bn	44.59M	+6.6% Added
UNHUnitedHealth Group	0.76%	$1.6bn	10.01M	+5.4% Added
MRKMerck & Co.	0.75%	$1.6bn	26.78M	+2.4% Added
CMCSAComcast	0.72%	$1.5bn	21.81M	+3.8% Added
HDThe Home Depot	0.69%	$1.5bn	10.87M	+5.7% Added
KOThe Coca-Cola Company	0.69%	$1.5bn	35.03M	+2.2% Added
DISThe Walt Disney Company	0.66%	$1.4bn	13.27M	+10.3% Added
BABAAlibaba Group Holding Ltd	0.64%	$1.3bn	15.33M	−4.6% Reduced
PEPPepsiCo	0.64%	$1.3bn	12.76M	+5.6% Added
IBMIBM	0.63%	$1.3bn	7.94M	+7.5% Added
VVisa Inc.	0.58%	$1.2bn	15.60M	+1.0% Added
SLBSchlumberger	0.56%	$1.2bn	14.01M	+5.4% Added
MOAltria	0.55%	$1.2bn	17.19M	+0.4%
AMGNAmgen	0.51%	$1.1bn	7.30M	+1.4% Added
PMPhilip Morris International	0.50%	$1.0bn	11.47M	+6.6% Added
QCOMQualcomm	0.50%	$1.0bn	16.05M	+2.9% Added
MAMastercard	0.49%	$1.0bn	9.96M	−2.1% Reduced
GILDGilead Sciences	0.48%	$1.0bn	14.22M	+8.2% Added
MCDMcDonald's	0.46%	$970.6m	7.97M	−2.1% Reduced
MMM3M	0.46%	$958.2m	5.37M	+2.4% Added
WMTWalmart	0.45%	$940.4m	13.61M	+9.1% Added
ORCLOracle Corporation	0.44%	$924.4m	24.04M	+4.2% Added
NEMNewmont	0.43%	$910.8m	26.73M	+2.3% Added
MDTMedtronic	0.43%	$898.6m	12.62M	+1.0% Added
ABBVAbbVie	0.42%	$891.9m	14.24M	+6.8% Added
SPGSimon Property Group	0.42%	$890.2m	5.01M	+1.7% Added
GSGoldman Sachs	0.42%	$880.9m	3.68M	+6.8% Added
BMYBristol Myers Squibb	0.41%	$871.9m	14.92M	−0.2%
CVSCVS Health	0.41%	$858.9m	10.88M	+8.3% Added
USBU.S. Bancorp	0.37%	$786.3m	15.31M	−3.3% Reduced
ACNAccenture	0.37%	$777.6m	6.64M	+3.4% Added
TXNTexas Instruments	0.36%	$761.2m	10.43M	+1.1% Added
UPSUnited Parcel Service	0.35%	$727.7m	6.35M	+7.2% Added
SBUXStarbucks	0.34%	$717.1m	12.92M	+0.4%
BABoeing	0.33%	$700.4m	4.50M	+5.7% Added
UNPUnion Pacific Corporation	0.33%	$693.9m	6.69M	+6.6% Added
LLYLilly (Eli)	0.32%	$680.2m	9.25M	−7.9% Reduced
LOWLowe's	0.32%	$673.6m	9.47M	+11.1% Added
CBChubb Limited	0.32%	$665.8m	5.04M	+7.5% Added
COPConocoPhillips	0.31%	$654.4m	13.05M	+5.5% Added
NEENextEra Energy	0.30%	$636.6m	5.33M	+11.2% Added
EOGEOG Resources	0.30%	$635.7m	6.29M	+11.7% Added
BIIBBiogen	0.30%	$621.4m	2.19M	+8.2% Added
MDLZMondelez International	0.29%	$606.6m	13.68M	+0.4%
BKNGBooking Holdings	0.29%	$603.4m	411.6K	+2.6% Added
MSMorgan Stanley	0.28%	$587.8m	14.12M	+13.3% Added
COSTCostco	0.28%	$577.4m	3.61M	+4.3% Added
AIGAmerican International Group	0.28%	$577.0m	8.83M	−5.0% Reduced
ADPAutomatic Data Processing	0.27%	$566.2m	5.51M	−3.5% Reduced
OXYOccidental Petroleum	0.27%	$558.9m	7.85M	+5.2% Added
METMetLife	0.26%	$546.1m	10.13M	−4.2% Reduced
TJXTJX Companies	0.26%	$544.2m	7.24M	+2.2% Added
SCHWCharles Schwab Corporation	0.26%	$537.9m	13.63M	−2.8% Reduced
NKENike, Inc.	0.26%	$536.6m	10.56M	−0.5% Reduced
CHTRCharter Communications	0.25%	$526.7m	1.83M	+4.4% Added
ELVElevance Health	0.25%	$526.5m	3.66M	+1.9% Added
PRUPrudential Financial	0.24%	$514.0m	4.94M	−6.7% Reduced
BIDUBaidu, Inc.	0.24%	$508.6m	3.09M	−11.2% Reduced
DHRDanaher Corporation	0.24%	$500.6m	6.43M	+11.2% Added
PSAPublic Storage	0.24%	$500.4m	2.24M	−1.6% Reduced
ABTAbbott Laboratories	0.24%	$499.9m	13.01M	+1.7% Added
CMECME Group	0.23%	$491.9m	4.26M	−6.0% Reduced
SOSouthern Company	0.23%	$489.0m	9.94M	+2.1% Added
LMTLockheed Martin	0.23%	$484.3m	1.94M	+10.6% Added
DUKDuke Energy	0.23%	$482.7m	6.22M	+4.6% Added
ADBEAdobe Inc.	0.23%	$481.1m	4.67M	−4.2% Reduced
TRVThe Travelers Companies	0.23%	$478.8m	3.91M	+3.3% Added
AXPAmerican Express	0.23%	$477.4m	6.44M	+5.6% Added
CLColgate-Palmolive	0.23%	$475.5m	7.27M	+6.4% Added
TMOThermo Fisher Scientific	0.23%	$473.8m	3.36M	−4.6% Reduced
NVDANVIDIA Corporation	0.23%	$473.4m	4.44M	+2.0% Added
CATCaterpillar Inc.	0.22%	$468.9m	5.06M	+9.4% Added
PNCPNC Financial Services	0.22%	$460.4m	3.94M	+3.3% Added
KHCKraft Heinz	0.22%	$460.3m	5.27M	+5.1% Added
TGTTarget Corporation	0.21%	$448.9m	6.22M	+1.4% Added
DDominion Energy	0.21%	$445.0m	5.81M	+0.8% Added
MRSHMarsh McLennan	0.21%	$441.4m	6.53M	+19.5% Added
MPCMarathon Petroleum	0.21%	$438.4m	8.71M	−0.1%
BNYBNY Mellon	0.21%	$435.1m	9.18M	+5.9% Added
FDXFedEx	0.21%	$434.6m	2.33M	+3.6% Added
SYKStryker Corporation	0.20%	$420.5m	3.51M	+5.8% Added
HALHalliburton	0.20%	$416.2m	7.69M	+8.9% Added
GMGeneral Motors	0.20%	$413.5m	11.87M	+10.6% Added
NFLXNetflix	0.20%	$412.8m	3.33M	+3.6% Added
PSXPhillips 66	0.20%	$410.9m	4.75M	+2.7% Added
COFCapital One	0.19%	$403.1m	4.62M	+5.7% Added
FFord Motor Company	0.19%	$401.4m	33.09M	+5.0% Added
BLKBlackRock	0.19%	$392.3m	1.03M	+6.0% Added
GISGeneral Mills	0.19%	$392.0m	6.35M	−3.9% Reduced
PLDPrologis	0.18%	$389.0m	7.37M	+2.8% Added
KMBKimberly-Clark	0.18%	$387.3m	3.39M	+5.6% Added
AMTAmerican Tower	0.18%	$384.4m	3.64M	−4.4% Reduced
VLOValero Energy	0.18%	$375.9m	5.50M	+3.1% Added
WELLWelltower	0.18%	$375.5m	5.61M	+5.8% Added
BKRBaker Hughes	0.18%	$371.6m	5.72M	+7.9% Added
INTUIntuit	0.17%	$357.9m	3.12M	+3.8% Added
EXCExelon	0.17%	$356.9m	10.06M	+13.2% Added
HUMHumana	0.17%	$355.2m	1.74M	+24.0% Added
BAXBaxter International	0.17%	$355.0m	8.01M	+6.9% Added
JCIJohnson Controls	0.17%	$352.4m	8.55M	+9.0% Added
CICigna	0.17%	$350.8m	2.63M	+9.9% Added
PYPLPayPal	0.17%	$350.4m	8.88M	+3.7% Added
BDXBecton Dickinson	0.17%	$350.2m	2.12M	+0.7% Added
ADMArcher Daniels Midland	0.17%	$348.2m	7.63M	+22.2% Added
ITWIllinois Tool Works	0.16%	$340.0m	2.78M	+1.9% Added
VMRKVivmark Residential	0.16%	$336.3m	5.23M	+1.6% Added
CTSHCognizant	0.16%	$335.2m	5.98M	+17.5% Added
KMIKinder Morgan	0.16%	$331.9m	16.03M	+4.8% Added
CRMSalesforce	0.16%	$331.2m	4.84M	+1.0% Added
DVNDevon Energy	0.16%	$329.0m	7.20M	+5.0% Added
AMATApplied Materials	0.16%	$328.5m	10.18M	+13.8% Added
VTRVentas	0.16%	$328.3m	5.25M	+1.1% Added
HPEHewlett Packard Enterprise	0.15%	$324.2m	14.01M	+8.2% Added
GDGeneral Dynamics	0.15%	$318.7m	1.85M	−24.4% Reduced
NOCNorthrop Grumman	0.15%	$318.2m	1.37M	+8.4% Added
WMWaste Management	0.15%	$309.6m	4.37M	−1.1% Reduced
MCKMcKesson	0.15%	$307.7m	2.19M	−10.9% Reduced
ALLAllstate	0.14%	$305.2m	4.12M	+6.6% Added
CAHCardinal Health	0.14%	$304.7m	4.23M	+8.5% Added
APDAir Products	0.14%	$302.8m	2.11M	+24.0% Added
PCGPG&E Corporation	0.14%	$295.7m	4.87M	+9.4% Added
CCICrown Castle	0.14%	$295.3m	3.40M	+7.7% Added
BSXBoston Scientific	0.14%	$295.1m	13.64M	−1.8% Reduced
CSXCSX Corporation	0.14%	$289.4m	8.06M	+5.0% Added
EMREmerson Electric	0.14%	$289.3m	5.19M	+5.8% Added
IPInternational Paper	0.14%	$288.7m	5.44M	+2.9% Added
DALDelta Air Lines	0.14%	$288.1m	5.86M	+54.8% Added
ETNEaton Corporation	0.14%	$286.0m	4.26M	+7.7% Added
KRKroger	0.14%	$285.5m	8.27M	−3.5% Reduced
AEPAmerican Electric Power	0.14%	$283.6m	4.50M	+7.9% Added
CFGCitizens Financial Group	0.14%	$282.7m	7.93M	−2.6% Reduced
EBAYeBay Inc.	0.13%	$280.5m	9.45M	+12.2% Added
EDConsolidated Edison	0.13%	$279.6m	3.79M	+11.9% Added
BXPBXP, Inc.	0.13%	$279.3m	2.22M	+2.4% Added

Company	Bought (value)	Shares
METAMeta Platforms	$244.9m	2.13M
ICEIntercontinental Exchange	$215.5m	3.82M
PFEPfizer	$202.6m	6.24M
AMZNAmazon	$143.1m	190.9K
DISThe Walt Disney Company	$129.6m	1.24M
AAPLApple Inc.	$129.0m	1.11M
YUMCYum China Holdings, Inc.	$123.0m	4.71M
DALDelta Air Lines	$101.9m	2.07M
INTCIntel	$99.5m	2.74M
MNSTMonster Beverage	$93.2m	2.10M
IBMIBM	$92.2m	555.6K
TAT&T	$87.3m	2.05M
BACBank of America	$83.2m	3.77M
HCAHCA Healthcare	$83.1m	1.12M
UNHUnitedHealth Group	$82.1m	513.0K

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

Company	Sold (value)	Shares
AAAlcoa Corp	−$310.9m	−11.07M
GDGeneral Dynamics	−$102.7m	−594.7K
ALLYAlly Financial Inc.	−$64.7m	−3.40M
BABAAlibaba Group Holding Ltd	−$64.3m	−732.0K
BIDUBaidu, Inc.	−$64.1m	−390.1K
LLYLilly (Eli)	−$58.6m	−797.2K
URIUnited Rentals	−$40.6m	−384.5K
WFCWells Fargo	−$39.2m	−711.9K
ABEVAmbev S.a.	−$39.0m	−7.93M
MCKMcKesson	−$37.6m	−267.7K
PRUPrudential Financial	−$36.8m	−353.4K
HSYThe Hershey Company	−$36.0m	−348.1K
CMECME Group	−$31.2m	−270.7K
AIGAmerican International Group	−$30.1m	−460.2K
NBHCNational Bank Holdings Corp	−$29.3m	−919.0K

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

Company	Value last quarter	Shares
CCJCameco Corp	$13.2m	1.54M
QSRRestaurant Brands International Inc.	$4.2m	95.3K
AZNAstrazeneca PLC	$4.1m	124.0K
ERICEricsson LM Telephone Co	$3.6m	505.3K
MPLXMplx LP	$2.2m	65.3K
TTDTrade Desk, Inc.	$265,000	9.1K
LABStandard Biotools Inc.	$98,000	12.2K
OCULOcular Therapeutix, Inc	$90,000	13.1K
YRDYiren Digital Ltd.	$45,000	1.9K
IPIIntrepid Potash, Inc.	$43,000	38.2K
UTIUniversal Technical Institute Inc	$25,000	14.3K

Financials16.9%
Technology15.4%
Health Care14.6%
Consumer Discretionary10.4%
Consumer Staples9.1%
Industrials8.3%
Communication Services8.3%
Energy5.3%
Real Estate4.8%
Utilities3.9%
Materials2.9%

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 backtestAugust 16, 2013 to May 26, 2017	+13.6%	+12.7%	1.14	1.08	−11.4%	1.00
Last three yearsMay 30, 2014 to May 26, 2017	+11.0%	+10.1%	0.90	0.84	−11.4%	1.01
Last yearMay 27, 2016 to May 26, 2017	+18.5%	+17.4%	1.92	1.84	−4.4%	1.00

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.