Institution

Blackrock Institutional Trust Company, N.A.

13F for December 31, 2016, filed February 10, 2017 · SEC CIK 913414 · Holdings history from March 31, 1999

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

Reported value: $675.4bn
Positions we cover: 1,852
Copy, a year: +14.1%
Copy Sharpe ratio: 1.16

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

3,855 reported entries for December 31, 2016.

Issuer	Class / type	Reported value	Quantity
AERCAP HOLDINGS NVN00985106 · AER	SHS	$101.8m	2,446,343
AERIE PHARMACEUTICALS INC00771V108	COM	$30.0m	792,213
AEROHIVE NETWORKS INC007786106	COM	$2.1m	370,367
AEROJET ROCKETDYNE HLDGS INC007800105	COM	$31.4m	1,750,830
AEROVIRONMENT INC008073108 · AVAV	COM	$15.3m	570,364
AES CORP00130H105 · AES	COM	$310.8m	26,747,498
AETHLON MED INC00808Y208 · AEMD	COM NEW	$229,000	54,499
AETNA INC NEW00817Y108	COM	$1.2bn	9,618,392
AEVI GENOMIC MEDICINE INC00835P105	COM	$3.4m	648,053
AFFILIATED MANAGERS GROUP008252108 · AMG	COM	$211.1m	1,452,971
AFLAC INC001055102 · AFL	COM	$800.4m	11,499,427
AG MTG INVT TR INC001228105	COM	$16.1m	940,294
AGCO CORP001084102 · AGCO	COM	$130.2m	2,250,308
AGENUS INC00847G705 · AGEN	COM NEW	$8.6m	2,086,400
AGILE THERAPEUTICS INC00847L100	COM	$564,000	98,884
AGILENT TECHNOLOGIES INC00846U101 · A	COM	$407.2m	8,937,889
AGILYSYS INC00847J105 · AGYS	COM	$5.3m	514,127
AGIOS PHARMACEUTICALS INC00847X104 · AGIO	COM	$36.3m	870,876
AGNC INVT CORP00123Q104 · AGNC	COM	$176.8m	9,753,488
AGREE REALTY CORP008492100 · ADC	COM	$44.1m	957,457
AGROFRESH SOLUTIONS00856G109	COM	$712,000	268,847
AIMMUNE THERAPEUTICS INC00900T107	COM	$13.1m	638,472
AIR LEASE CORP00912X302	CL A	$84.3m	2,454,503
AIR METHODS CORP009128307	COM PAR $.06	$27.7m	868,900
AIR PRODS & CHEMS INC009158106 · APD	COM	$835.3m	5,807,849
AIR T INC009207101 · AIRT	COM	$193,000	8,380
AIR TRANSPORT SERVICES GRP I00922R105	COM	$19.2m	1,200,928
AIRCASTLE LTDG0129K104	COM	$27.7m	1,329,603
AK STL HLDG CORP001547108	COM	$81.0m	7,930,278
AKAMAI TECHNOLOGIES INC00971T101 · AKAM	COM	$306.9m	4,602,887
AKEBIA THERAPEUTICS INC00972D105 · AKBA	COM	$8.3m	796,132
AKERS BIOSCIENCES INC00973E102	COM	$27,000	14,068
AKORN INC009728106	COM	$59.4m	2,720,959
ALAMO GROUP INC011311107 · ALG	COM	$19.8m	259,982
ALAMOS GOLD INC NEW011532108 · AGI	COM CL A	$0	2
ALARM COM HLDGS INC011642105 · ALRM	COM	$8.6m	310,310
ALASKA AIR GROUP INC011659109 · ALK	COM	$285.5m	3,217,517
ALASKA COMMUNICATIONS SYS GR01167P101	COM	$2.8m	1,684,055
ALBANY INTL CORP012348108 · AIN	CL A	$34.4m	743,593
ALBANY MOLECULAR RESH INC012423109	COM	$13.9m	740,681
ALBEMARLE CORP012653101 · ALB	COM	$273.9m	3,182,472
ALBIREO PHARMA INC01345P106	COM	$15,000	863
ALCOA CORP013872106 · AA	COM	$104.0m	3,705,306
ALDER BIOPHARMACEUTICALS INC014339105	COM	$26.0m	1,248,310
ALERE INC01449J105	COM	$88.6m	2,273,168
ALERE INC01449J105	OPTIONSPut	$12,000	300
ALEXANDER & BALDWIN INC NEW014491104	COM	$61.8m	1,377,478
ALEXANDERS INC014752109 · ALX	COM	$41.1m	96,249
BENCHMARK ELECTRS INC08160H101 · BHE	COM	$39.7m	1,302,092
BENEFICIAL BANCORP INC08171T102	COM	$35.5m	1,927,106
BENEFITFOCUS INC08180D106	COM	$15.9m	534,543
BERKLEY W R CORP084423102 · WRB	COM	$227.8m	3,425,263
BERKSHIRE HATHAWAY INC DEL084670108	CL A	$12.2m	50
BERKSHIRE HATHAWAY INC DEL084670702	CL B NEW	$8.0bn	49,200,906
BERKSHIRE HILLS BANCORP INC084680107 · BBT	COM	$34.1m	924,517
BERRY PLASTICS GROUP INC08579W103	COM	$156.7m	3,214,921
BEST BUY INC086516101 · BBY	COM	$360.7m	8,453,821
BG STAFFING INC05544A109	COM	$495,000	31,702
BGC PARTNERS INC05541T101	CL A	$58.0m	5,672,673
BHP BILLITON LTD088606108 · BHP	SPONSORED ADR	$863,000	24,119
BIG 5 SPORTING GOODS CORP08915P101	COM	$22.7m	1,306,293
BIG LOTS INC089302103	COM	$101.0m	2,012,297
DR REDDYS LABS LTD256135203	ADR	$4.6m	101,125
DREW INDS INC26168L205	COM NEW	$66.8m	619,892
DRIL-QUIP INC262037104	COM	$75.2m	1,252,547
DSP GROUP INC23332B106	COM	$9.4m	721,151
DST SYS INC DEL233326107	COM	$107.0m	998,822
DSW INC23334L102	CL A	$43.0m	1,899,903
DTE ENERGY CO233331107 · DTE	COM	$505.7m	5,133,978
DU PONT E I DE NEMOURS & CO263534109	COM	$1.7bn	23,314,800
DUCOMMUN INC DEL264147109 · DCO	COM	$7.8m	305,012
DUKE ENERGY CORP NEW26441C204 · DUK	COM NEW	$1.5bn	19,115,634
DUKE REALTY CORP264411505	COM NEW	$414.0m	15,586,107
DULUTH HLDGS INC26443V101 · DLTH	COM CL B	$7.6m	297,477
DUN & BRADSTREET CORP DEL NE26483E100	COM	$129.8m	1,069,792
DUNKIN BRANDS GROUP INC265504100	COM	$147.0m	2,802,595
DUPONT FABROS TECHNOLOGY INC26613Q106	COM	$127.8m	2,908,696
DURECT CORP266605104	COM	$5.5m	4,141,288
DXP ENTERPRISES INC NEW233377407 · DXPE	COM NEW	$13.5m	387,960
DYCOM INDS INC267475101 · DY	COM	$74.1m	922,801
DYNATRONICS CORP268157401	COM NEW	$54,000	22,786
DYNAVAX TECHNOLOGIES CORP268158201	COM NEW	$4.6m	1,163,514
DYNEGY INC NEW DEL26817R108	COM	$28.9m	3,417,271
E L F BEAUTY INC26856L103 · ELF	COM	$2.5m	87,492
E TRADE FINANCIAL CORP269246401	COM NEW	$269.5m	7,779,165
EAGLE BANCORP INC MD268948106 · EGBN	COM	$52.5m	860,585
EAGLE MATERIALS INC26969P108 · EXP	COM	$140.0m	1,420,871
EAGLE PHARMACEUTICALS INC269796108	COM	$17.6m	221,266
EARTHLINK HLDGS CORP27033X101	COM	$26.3m	4,657,107
EARTHSTONE ENERGY INC27032D205	COM NEW	$178,000	12,987
EAST WEST BANCORP INC27579R104 · EWBC	COM	$227.6m	4,477,682
EASTERLY GOVT PPTYS INC27616P103 · DEA	COM	$20.3m	1,012,327
EASTERN CO276317104 · EML	COM	$78,000	3,746
EASTERN VA BANKSHARES INC277196101	COM	$598,000	57,193
EASTGROUP PPTY INC277276101 · EGP	COM	$84.7m	1,147,477
EASTMAN CHEM CO277432100 · EMN	COM	$350.7m	4,662,859
EASTMAN KODAK CO277461406 · KODK	COM NEW	$7.6m	490,550
EATON CORP PLCG29183103 · ETN	SHS	$813.0m	12,117,727
EATON VANCE CORP278265103	COM NON VTG	$158.2m	3,778,549
EBAY INC278642103 · EBAY	COM	$854.9m	28,792,796

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 Institutional Trust Company, N.A.'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 −11.7% (S&P 500 −11.2%); beta 1.02; alpha +0.9% a year (t = 1.77); last 12 months +21.8% against +20.1%.

Reported value by quarter

Blackrock Institutional Trust Company, N.A.: 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
2004-06-30	$2.7M
2013-06-30	$495.3B
2013-09-30	$517.5B
2013-12-31	$566.3B
2014-03-31	$580.3B
2014-06-30	$602.3B
2014-09-30	$596B
2014-12-31	$626B
2015-03-31	$642.3B
2015-06-30	$621.7B
2015-09-30	$573.2B
2015-12-31	$605.5B
2016-03-31	$605.8B
2016-06-30	$615.5B
2016-09-30	$642.6B
2016-12-31	$675.4B

Latest covered holdings and moves

Covered holdings as of December 31, 2016.

Company	Share of portfolio	Value	Shares	Change in shares
AAPLApple Inc.	2.48%	$16.8bn	144.75M	+1.1% Added
MSFTMicrosoft Corporation	1.92%	$13.0bn	209.18M	+1.5% Added
JNJJohnson & Johnson	1.28%	$8.6bn	74.83M	0.0%
JPMJPMorgan Chase	1.25%	$8.5bn	98.02M	+1.2% Added
AMZNAmazon	1.17%	$7.9bn	10.49M	+1.7% Added
METAMeta Platforms	1.06%	$7.1bn	62.07M	+1.6% Added
TAT&T	1.04%	$7.0bn	165.34M	+1.2% Added
WFCWells Fargo	0.99%	$6.7bn	121.83M	+1.1% Added
GOOGLAlphabet Inc. (Class A)	0.93%	$6.3bn	7.94M	+1.3% Added
BACBank of America	0.92%	$6.2bn	280.09M	+3.3% Added
CVXChevron Corporation	0.89%	$6.0bn	50.77M	+0.8% Added
PGProcter & Gamble	0.88%	$5.9bn	70.49M	+0.3%
VZVerizon	0.87%	$5.9bn	110.16M	+0.5% Added
PFEPfizer	0.81%	$5.4bn	167.49M	+2.0% Added
CCitigroup	0.70%	$4.7bn	79.57M	+2.3% Added
INTCIntel	0.69%	$4.7bn	128.61M	+1.7% Added
HDThe Home Depot	0.68%	$4.6bn	34.34M	+1.5% Added
CMCSAComcast	0.67%	$4.5bn	65.72M	+2.1% Added
MRKMerck & Co.	0.66%	$4.5bn	75.62M	+1.6% Added
KOThe Coca-Cola Company	0.64%	$4.3bn	104.65M	+1.6% Added
UNHUnitedHealth Group	0.64%	$4.3bn	27.09M	+2.2% Added
CSCOCisco	0.62%	$4.2bn	138.99M	−0.1%
DISThe Walt Disney Company	0.62%	$4.2bn	40.28M	+1.0% Added
PEPPepsiCo	0.60%	$4.1bn	39.04M	+1.5% Added
VVisa Inc.	0.59%	$4.0bn	51.39M	+0.5% Added
IBMIBM	0.58%	$4.0bn	23.80M	+2.1% Added
PMPhilip Morris International	0.54%	$3.6bn	39.47M	+0.3%
MOAltria	0.53%	$3.5bn	52.47M	−0.9% Reduced
SLBSchlumberger	0.46%	$3.1bn	36.87M	+2.3% Added
AMGNAmgen	0.46%	$3.1bn	21.08M	+2.8% Added
ORCLOracle Corporation	0.46%	$3.1bn	79.96M	+1.9% Added
WMTWalmart	0.43%	$2.9bn	42.17M	+0.6% Added
MMM3M	0.42%	$2.8bn	15.96M	−0.2%
MCDMcDonald's	0.41%	$2.8bn	22.98M	−4.0% Reduced
ABBVAbbVie	0.40%	$2.7bn	43.46M	+1.4% Added
MAMastercard	0.40%	$2.7bn	26.15M	−1.1% Reduced
BMYBristol Myers Squibb	0.40%	$2.7bn	46.07M	−1.9% Reduced
GILDGilead Sciences	0.39%	$2.6bn	36.94M	+1.2% Added
QCOMQualcomm	0.39%	$2.6bn	40.46M	+1.8% Added
MDTMedtronic	0.39%	$2.6bn	36.95M	+1.5% Added
BABoeing	0.37%	$2.5bn	16.09M	+4.5% Added
GSGoldman Sachs	0.35%	$2.4bn	9.94M	+0.3%
CVSCVS Health	0.35%	$2.4bn	30.13M	+2.3% Added
UNPUnion Pacific Corporation	0.35%	$2.4bn	22.90M	+4.9% Added
SPGSimon Property Group	0.34%	$2.3bn	12.92M	+2.8% Added
UPSUnited Parcel Service	0.33%	$2.2bn	19.61M	+4.7% Added
USBU.S. Bancorp	0.33%	$2.2bn	42.95M	+1.0% Added
SBUXStarbucks	0.32%	$2.2bn	38.84M	−4.0% Reduced
TXNTexas Instruments	0.31%	$2.1bn	28.81M	−0.8% Reduced
ACNAccenture	0.30%	$2.1bn	17.52M	+0.3%
LLYLilly (Eli)	0.29%	$2.0bn	26.59M	0.0%
BKNGBooking Holdings	0.28%	$1.9bn	1.31M	+0.8% Added
COSTCostco	0.28%	$1.9bn	11.83M	+1.6% Added
NKENike, Inc.	0.27%	$1.8bn	36.24M	−1.0% Reduced
LOWLowe's	0.27%	$1.8bn	25.89M	−0.8% Reduced
MDLZMondelez International	0.27%	$1.8bn	40.61M	+1.0% Added
AIGAmerican International Group	0.26%	$1.8bn	26.95M	−2.3% Reduced
LMTLockheed Martin	0.26%	$1.8bn	7.03M	+6.0% Added
BIIBBiogen	0.26%	$1.7bn	6.10M	+4.0% Added
COPConocoPhillips	0.26%	$1.7bn	34.39M	+2.0% Added
MSMorgan Stanley	0.24%	$1.6bn	38.89M	−0.4%
CBChubb Limited	0.24%	$1.6bn	12.43M	+2.7% Added
CHTRCharter Communications	0.24%	$1.6bn	5.58M	+2.0% Added
CLColgate-Palmolive	0.24%	$1.6bn	24.49M	+0.9% Added
EOGEOG Resources	0.23%	$1.6bn	15.73M	+8.4% Added
AXPAmerican Express	0.23%	$1.6bn	21.06M	+3.6% Added
PNCPNC Financial Services	0.23%	$1.5bn	12.97M	−0.2%
ABTAbbott Laboratories	0.22%	$1.5bn	39.35M	+1.3% Added
NEENextEra Energy	0.22%	$1.5bn	12.57M	+1.8% Added
METMetLife	0.22%	$1.5bn	27.81M	+1.8% Added
OXYOccidental Petroleum	0.22%	$1.5bn	21.04M	+2.0% Added
TMOThermo Fisher Scientific	0.22%	$1.5bn	10.61M	+3.3% Added
NVDANVIDIA Corporation	0.22%	$1.5bn	14.00M	+2.1% Added
DUKDuke Energy	0.22%	$1.5bn	19.12M	+1.4% Added
ADBEAdobe Inc.	0.22%	$1.5bn	14.16M	−0.5%
CATCaterpillar Inc.	0.21%	$1.4bn	15.37M	+3.0% Added
TJXTJX Companies	0.21%	$1.4bn	18.92M	+2.5% Added
BABAAlibaba Group Holding Ltd	0.21%	$1.4bn	15.98M	−0.9% Reduced
NFLXNetflix	0.21%	$1.4bn	11.24M	+1.8% Added
BNYBNY Mellon	0.20%	$1.4bn	28.85M	+1.8% Added
KHCKraft Heinz	0.20%	$1.4bn	15.56M	+1.5% Added
SCHWCharles Schwab Corporation	0.20%	$1.3bn	33.57M	−0.3%
SOSouthern Company	0.20%	$1.3bn	26.82M	+0.2%
FDXFedEx	0.20%	$1.3bn	7.08M	−0.5% Reduced
GMGeneral Motors	0.19%	$1.3bn	37.67M	+1.1% Added
ADPAutomatic Data Processing	0.19%	$1.3bn	12.77M	−0.5% Reduced
DDominion Energy	0.19%	$1.3bn	16.98M	+1.4% Added
PSAPublic Storage	0.19%	$1.3bn	5.78M	+2.8% Added
DHRDanaher Corporation	0.19%	$1.3bn	16.49M	+2.0% Added
GDGeneral Dynamics	0.19%	$1.3bn	7.43M	−2.1% Reduced
PRUPrudential Financial	0.19%	$1.3bn	12.25M	−4.4% Reduced
FFord Motor Company	0.19%	$1.3bn	104.11M	+2.3% Added
TGTTarget Corporation	0.18%	$1.2bn	17.14M	+7.4% Added
HALHalliburton	0.18%	$1.2bn	22.78M	+2.1% Added
BLKBlackRock	0.18%	$1.2bn	3.20M	+1.7% Added
AMTAmerican Tower	0.18%	$1.2bn	11.28M	−1.3% Reduced
NOCNorthrop Grumman	0.17%	$1.2bn	5.02M	+3.9% Added
PYPLPayPal	0.17%	$1.2bn	29.36M	+1.5% Added
CMECME Group	0.17%	$1.1bn	9.95M	−1.7% Reduced
CRMSalesforce	0.17%	$1.1bn	16.75M	−1.4% Reduced
COFCapital One	0.17%	$1.1bn	13.05M	−3.2% Reduced
KMBKimberly-Clark	0.17%	$1.1bn	9.86M	−5.8% Reduced
PLDPrologis	0.16%	$1.1bn	20.48M	+4.6% Added
KMIKinder Morgan	0.16%	$1.1bn	52.11M	+3.9% Added
ITWIllinois Tool Works	0.16%	$1.1bn	8.72M	−1.9% Reduced
ELVElevance Health	0.16%	$1.1bn	7.40M	+0.1%
PSXPhillips 66	0.16%	$1.1bn	12.27M	+0.9% Added
GISGeneral Mills	0.15%	$1.0bn	16.96M	−4.2% Reduced
SYKStryker Corporation	0.15%	$1.0bn	8.72M	+1.2% Added
TRVThe Travelers Companies	0.15%	$1.0bn	8.53M	−6.5% Reduced
HPEHewlett Packard Enterprise	0.15%	$1.0bn	44.88M	+2.1% Added
JCIJohnson Controls	0.15%	$1.0bn	24.81M	+2.4% Added
MRSHMarsh McLennan	0.15%	$1.0bn	14.92M	+1.5% Added
BDXBecton Dickinson	0.15%	$993.4m	6.00M	+1.2% Added
AMATApplied Materials	0.15%	$987.7m	30.61M	+2.0% Added
WELLWelltower	0.14%	$953.8m	14.25M	+4.0% Added
EMREmerson Electric	0.14%	$945.5m	16.96M	+1.7% Added
VTRVentas	0.14%	$938.8m	15.02M	+14.1% Added
DALDelta Air Lines	0.14%	$933.1m	18.97M	+2.8% Added
EXCExelon	0.14%	$928.8m	26.17M	+2.4% Added
AEPAmerican Electric Power	0.14%	$924.9m	14.69M	+2.9% Added
CSXCSX Corporation	0.14%	$921.1m	25.64M	+0.1%
CICigna	0.14%	$912.7m	6.84M	+1.6% Added
VMRKVivmark Residential	0.13%	$901.1m	14.00M	+3.3% Added
MCKMcKesson	0.13%	$901.1m	6.42M	−6.1% Reduced
CTSHCognizant	0.13%	$896.8m	16.01M	+2.4% Added
KRKroger	0.13%	$896.2m	25.97M	−2.7% Reduced
VLOValero Energy	0.13%	$889.3m	13.02M	+0.7% Added
ICEIntercontinental Exchange	0.13%	$882.9m	15.65M	+377.7% Added
NSCNorfolk Southern	0.13%	$874.7m	8.09M	−0.5% Reduced
WMWaste Management	0.13%	$867.1m	12.23M	−0.6% Reduced
EBAYeBay Inc.	0.13%	$854.9m	28.79M	+1.8% Added
INTUIntuit	0.13%	$851.5m	7.43M	+0.9% Added
BKRBaker Hughes	0.13%	$849.7m	13.08M	+7.9% Added
HUMHumana	0.13%	$845.6m	4.14M	+4.4% Added
CCICrown Castle	0.12%	$839.9m	9.68M	+6.3% Added
DEDeere & Company	0.12%	$838.6m	8.14M	+2.9% Added
PCGPG&E Corporation	0.12%	$837.5m	13.78M	+2.3% Added
APDAir Products	0.12%	$835.3m	5.81M	+3.2% Added
MPCMarathon Petroleum	0.12%	$831.0m	16.50M	+1.6% Added
LYBLyondellBasell	0.12%	$826.0m	9.63M	−4.4% Reduced
BSXBoston Scientific	0.12%	$819.3m	37.88M	+5.4% Added
ECLEcolab	0.12%	$815.1m	6.95M	+0.4%
ETNEaton Corporation	0.12%	$813.0m	12.12M	−1.3% Reduced
LUVSouthwest Airlines	0.12%	$805.2m	16.16M	−4.2% Reduced
ADMArcher Daniels Midland	0.12%	$803.0m	17.59M	+8.0% Added
AFLAflac	0.12%	$800.4m	11.50M	−1.3% Reduced
EQIXEquinix	0.12%	$798.6m	2.23M	+5.2% Added
SPGIS&P Global	0.12%	$793.3m	7.38M	−0.8% Reduced
SYYSysco	0.12%	$791.5m	14.30M	+1.9% Added

Company	Bought (value)	Shares
ICEIntercontinental Exchange	$698.0m	12.37M
TEVATeva Pharmaceutical Industries LTD	$455.9m	12.58M
MNSTMonster Beverage	$320.9m	7.24M
YUMCYum China Holdings, Inc.	$203.3m	7.78M
BACBank of America	$198.2m	8.97M
MSFTMicrosoft Corporation	$197.7m	3.18M
COTYCoty Inc.	$183.6m	10.03M
AAPLApple Inc.	$182.2m	1.57M
AGNCAGNC Investment Corp.	$176.8m	9.75M
LWLamb Weston Holdings, Inc.	$156.5m	4.13M
MAAMid-America Apartment Communities	$135.1m	1.38M
ADNTAdient plc	$133.1m	2.27M
AMZNAmazon	$130.0m	173.4K
EOGEOG Resources	$123.7m	1.22M
VTRVentas	$116.2m	1.86M

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

Company	Sold (value)	Shares
AAAlcoa Corp	−$891.5m	−31.75M
MCDMcDonald's	−$115.3m	−947.6K
SBUXStarbucks	−$89.5m	−1.61M
TRVThe Travelers Companies	−$72.4m	−591.5K
KMBKimberly-Clark	−$68.9m	−603.7K
CLXClorox	−$65.1m	−542.4K
MCKMcKesson	−$58.7m	−418.0K
PRUPrudential Financial	−$58.1m	−558.0K
BMYBristol Myers Squibb	−$53.1m	−908.9K
FLEXFlex Ltd.	−$46.3m	−3.22M
GISGeneral Mills	−$45.7m	−740.4K
AIGAmerican International Group	−$42.2m	−646.8K
SNASnap-on	−$40.2m	−234.6K
COFCapital One	−$38.2m	−437.6K
LYBLyondellBasell	−$38.1m	−444.6K

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

Company	Value last quarter	Shares
AZNAstrazeneca PLC	$8.3m	254.0K
ABEVAmbev S.a.	$3.4m	563.0K
SAPSAP SE	$3.1m	34.3K
TMToyota Motor Corp/	$2.3m	19.9K
LOGILogitech International S.a.	$1.6m	73.1K
ESLTElbit Systems LTD	$1.2m	12.6K
CCJCameco Corp	$1.1m	133.4K
LKFTLakefront Biotherapeutics NV	$569,000	8.8K
STMStmicroelectronics N.V.	$555,000	68.1K
CAECAE Inc	$440,000	30.9K
CSIQCanadian Solar Inc.	$156,000	11.4K
CIGIColliers International Group Inc.	$112,000	2.7K
TENXTenax Therapeutics, Inc.	$66,000	28.6K
CIGEnergy Co Of Minas Gerais	$39,000	15.0K
OFSOFS Capital Corp	$33,000	2.6K
DITAmcon Distributing Co	$32,000	357
KINSKingstone Companies, Inc.	$24,000	2.7K
NAIINatural Alternatives International Inc	$22,000	1.7K
ENBEnbridge Inc	$19,000	423
TDToronto Dominion Bank	$18,000	405
CMCanadian Imperial Bank Of Commerce	$14,000	185
ABUSArbutus Biopharma Corp	$13,000	3.9K
RYRoyal Bank Of Canada	$10,000	160

Financials17.3%
Technology15.5%
Health Care13.6%
Industrials10.1%
Consumer Discretionary10.1%
Consumer Staples9.0%
Communication Services8.2%
Real Estate5.0%
Energy4.7%
Utilities3.8%
Materials2.6%

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	+14.1%	+12.7%	1.16	1.08	−11.7%	1.02
Last three yearsMay 30, 2014 to May 26, 2017	+11.5%	+10.1%	0.92	0.84	−11.7%	1.02
Last yearMay 27, 2016 to May 26, 2017	+18.9%	+17.4%	1.87	1.84	−4.3%	1.06

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.