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
HALLADOR ENERGY COMPANY40609P105 · HNRG	COM	$1.0m	113,140
HALLIBURTON CO406216101 · HAL	COM	$1.2bn	22,781,455
HALLMARK FINL SVCS INC EC40624Q203	COM NEW	$3.7m	316,658
HALOZYME THERAPEUTICS INC40637H109 · HALO	COM	$30.0m	3,035,630
HALYARD HEALTH INC40650V100	COM	$54.3m	1,467,624
HANCOCK HLDG CO410120109 · HWC	COM	$104.4m	2,422,540
HANDY & HARMAN LTD410315105	COM	$628,000	24,573
HANESBRANDS INC410345102	COM	$215.5m	9,990,660
HANMI FINL CORP410495204 · HAFC	COM NEW	$32.5m	930,551
HANNON ARMSTRONG SUST INFR C41068X100	COM	$25.1m	1,320,726
HANOVER INS GROUP INC410867105 · THG	COM	$124.9m	1,372,680
HARBORONE BANCORP INC41165F101	COM	$2.3m	119,961
HARDINGE INC412324303	COM	$4.7m	420,703
HARLEY DAVIDSON INC412822108 · HOG	COM	$275.9m	4,729,402
HARMAN INTL INDS INC413086109	COM	$220.3m	1,981,389
HARMONIC INC413160102 · HLIT	COM	$11.1m	2,220,021
HARMONY GOLD MNG LTD413216300 · HMY	SPONSORED ADR	$279,000	126,372
HARRIS CORP DEL413875105 · LHX	COM	$346.1m	3,377,306
HARSCO CORP415864107	COM	$27.8m	2,044,366
HARTE-HANKS INC416196103 · HHS	COM	$2.6m	1,741,817
HARTFORD FINL SVCS GROUP INC416515104 · HIG	COM	$528.8m	11,097,800
HARVARD BIOSCIENCE INC416906105	COM	$3.5m	1,161,057
HARVEST NATURAL RESOURCES IN41754V202	COM NEW	$1.8m	297,565
HASBRO INC418056107 · HAS	COM	$353.4m	4,542,990
HAVERTY FURNITURE INC419596101 · HVT	COM	$13.8m	584,274
HAWAIIAN ELEC INDUSTRIES419870100 · HE	COM	$106.2m	3,209,970
HAWAIIAN HOLDINGS INC419879101	COM	$79.9m	1,401,129
HAWAIIAN TELCOM HOLDCO INC420031106	COM	$1.7m	67,750
HAWKINS INC420261109 · HWKN	COM	$15.5m	286,597
HAYNES INTERNATIONAL INC420877201	COM NEW	$14.2m	330,543
HC2 HLDGS INC404139107	COM	$2.8m	476,022
STOCK YDS BANCORP INC861025104 · SYBT	COM	$32.1m	682,772
STONE ENERGY CORP861642304	COM NEW	$63,000	8,812
STONEGATE BK FT LAUDERDALE F861811107	COM	$8.7m	209,627
STONEGATE MTG CORP86181Q300	COM	$1.7m	285,729
STONERIDGE INC86183P102 · SRI	COM	$13.3m	752,871
STORE CAP CORP862121100	COM	$132.2m	5,351,651
STRAIGHT PATH COMMUNICATNS I862578101	CL B	$9.6m	284,482
STRATA SKIN SCIENCES INC86272A107	COM	$142,000	322,637
STRATASYS LTDM85548101 · SSYS	SHS	$7.5m	452,105
STRATTEC SEC CORP863111100 · STRT	COM	$4.6m	114,255
STRATUS PPTYS INC863167201	COM NEW	$1.5m	44,956
STRAYER ED INC863236105	COM	$22.6m	280,426
STREAMLINE HEALTH SOLUTIONS86323X106	COM	$480,000	383,729
STRYKER CORP863667101 · SYK	COM	$1.0bn	8,721,801
STURM RUGER & CO INC864159108 · RGR	COM	$25.4m	482,426
SUCAMPO PHARMACEUTICALS INC864909106	CL A	$9.8m	726,524
SUCAMPO PHARMACEUTICALS INC864909AA4	DBCV 3.250%12/1	$29,000	27,000
SUFFOLK BANCORP864739107	COM	$17.8m	414,662
SUMMIT FINANCIAL GROUP INC86606G101	COM	$1.8m	63,871
SUMMIT HOTEL PPTYS866082100 · INN	COM	$64.4m	4,014,941
SUMMIT MATLS INC86614U100	CL A	$58.8m	2,473,589
SUN BANCORP INC86663B201	COM NEW	$8.9m	341,783
SUN CMNTYS INC866674104 · SUI	COM	$193.6m	2,526,789
SUN HYDRAULICS CORP866942105	COM	$25.5m	638,222
SUNCOKE ENERGY INC86722A103 · SXC	COM	$19.8m	1,747,787
SUNCOR ENERGY INC NEW867224107 · SU	COM	$20.3m	620,390
SUNESIS PHARMACEUTICALS INC867328700	COM PAR	$277,000	76,616
SUNLINK HEALTH SYSTEMS INC86737U102	COM	$0	1
SUNPOWER CORP867652406	COM	$9.1m	1,371,387
SUNRUN INC86771W105 · RUN	COM	$8.7m	1,647,463
SUNSTONE HOTEL INVS INC NEW867892101 · SHO	COM	$120.4m	7,897,933
SUNTRUST BKS INC867914103	COM	$801.3m	14,608,360
SUNWORKS INC86803X105	COM	$111,000	55,296
SUPER MICRO COMPUTER INC86800U104	COM	$28.8m	1,026,712
SUPERCONDUCTOR TECHNOLOGIES867931503	COM PAR NEW	$59,000	47,644
SUPERIOR ENERGY SVCS INC868157108	COM	$79.6m	4,713,901
SUPERIOR INDS INTL INC868168105	COM	$16.8m	637,907
SUPERIOR UNIFORM GP INC868358102 · SGC	COM	$3.0m	151,209
SUPERNUS PHARMACEUTICALS INC868459108 · SUPN	COM	$31.0m	1,228,844
SUPERVALU INC868536103	COM	$53.3m	11,421,343
SUPPORT COM INC86858W101	COM	$1.3m	1,519,051
SUPREME INDS INC868607102	CL A	$6.4m	405,891
SURGERY PARTNERS INC86881A100 · SGRY	COM	$5.9m	372,612
SURGICAL CARE AFFILIATES INC86881L106	COM	$36.1m	780,025
SURMODICS INC868873100	COM	$10.8m	423,667
SUTHERLAND ASSET MGMT CORP M86933G105	COM	$2.5m	187,326
SVB FINL GROUP78486Q101	COM	$271.5m	1,581,622
SWIFT TRANSN CO87074U101	CL A	$50.8m	2,084,867
SYKES ENTERPRISES INC871237103	COM	$29.6m	1,024,434
SYMANTEC CORP871503108	COM	$400.1m	16,746,030
SYNALLOY CP DEL871565107	COM	$1.3m	117,973
SYNAPTICS INC87157D109 · SYNA	COM	$57.9m	1,079,975
SYNCHRONOSS TECHNOLOGIES INC87157B103	COM	$40.8m	1,065,670
SYNCHRONY FINL87165B103 · SYF	COM	$779.7m	21,497,785
SYNDAX PHARMACEUTICALS INC87164F105 · SNDX	COM	$188,000	26,166
SYNERGY PHARMACEUTICALS DEL871639308	COM NEW	$30.6m	5,026,056
SYNERGY RES CORP87164P103	COM	$48.4m	5,432,534
SYNERON MEDICAL LTDM87245102	ORD SHS	$606,000	72,145
SYNNEX CORP87162W100 · SNX	COM	$144.3m	1,192,649
SYNOPSYS INC871607107 · SNPS	COM	$311.1m	5,284,674
SYNOVUS FINL CORP87161C501	COM NEW	$162.4m	3,953,459
SYNTEL INC87162H103	COM	$14.3m	724,786
SYNTHESIS ENERGY SYS INC871628103	COM	$179,000	178,971
SYNTHETIC BIOLOGICS INC87164U102	COM	$1.4m	1,840,587
SYNUTRA INTL INC87164C102	COM	$873,000	163,168
CAPSTAR FINL HLDGS INC14070T102	COM	$74,000	3,378
CAPSTEAD MTG CORP14067E506	COM NO PAR	$25.9m	2,545,095
CAPSTONE TURBINE CORP14067D409	COM NEW	$255,000	374,348
CARA THERAPEUTICS INC140755109	COM	$7.0m	754,488

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.