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
XUNLEI LTD98419E108 · XNET	SPONSORED ADR	$459,000	118,803
XYLEM INC98419M100 · XYL	COM	$252.6m	5,101,663
YADKIN FINL CORP984305102	COM	$48.5m	1,415,588
YAHOO INC984332106	COM	$890.3m	23,024,254
YAMANA GOLD INC98462Y100	COM	$0	3
YANDEX N VN97284108 · NBIS	SHS CLASS A	$91.2m	4,532,570
YELP INC985817105 · YELP	CL A	$62.4m	1,637,561
YIRENDAI LTD98585L100 · YRD	SPONSORED ADR	$54,000	2,630
YORK WTR CO987184108 · YORW	COM	$5.6m	146,013
YPF SOCIEDAD ANONIMA984245100	SPON ADR CL D	$12.9m	782,143
YRC WORLDWIDE INC984249607	COM PAR $.01	$13.1m	982,869
YUM BRANDS INC988498101 · YUM	COM	$617.8m	9,754,638
YUM CHINA HLDGS INC98850P109 · YUMC	COM	$203.3m	7,782,300
YUME INC98872B104	COM	$503,000	140,584
YY INC98426T106	ADS REPCOM CLA	$20.7m	525,445
ZAFGEN INC98885E103	COM	$1.6m	501,227
ZAGG INC98884U108	COM	$6.7m	937,780
ZAYO GROUP HLDGS INC98919V105	COM	$112.1m	3,411,868
ZEBRA TECHNOLOGIES CORP989207105 · ZBRA	CL A	$136.9m	1,595,745
ZEDGE INC98923T104 · ZDGE	CL B	$308,000	98,315
ZELTIQ AESTHETICS INC98933Q108	COM	$39.4m	905,431
ZENDESK INC98936J101	COM	$40.4m	1,903,962
ZHAOPIN LTD98954L103	SPONSORED ADR	$554,000	36,675
ZILLOW GROUP INC98954M101 · Z	CL A	$41.2m	1,131,539
ZILLOW GROUP INC98954M200 · Z	CL C CAP STK	$103.6m	2,841,578
ZIMMER BIOMET HLDGS INC98956P102 · ZBH	COM	$550.7m	5,336,580
ZION OIL & GAS INC989696109	COM	$20,000	14,495
ZIONS BANCORPORATION989701107 · ZION	COM	$236.6m	5,497,547
ASSOCIATED BANC CORP045487105 · ASB	COM	$118.2m	4,784,415
ASSOCIATED CAP GROUP INC045528106	CL A	$5.2m	157,553
ASSURANT INC04621X108 · AIZ	COM	$163.4m	1,759,410
ASSURED GUARANTY LTDG0585R106 · AGO	COM	$132.4m	3,506,580
ASTA FDG INC046220109	COM	$2.8m	285,682
ASTEC INDS INC046224101 · ASTE	COM	$33.7m	498,980
ASTERIAS BIOTHERAPEUTICS INC04624N107	COM SER A	$1.4m	303,516
ASTERIAS BIOTHERAPEUTICS INC04624N115	*W EXP 02/15/201	$2,000	2,856
ASTORIA FINL CORP046265104	COM	$43.8m	2,349,736
ASTRONICS CORP046433108 · ATRO	COM	$19.8m	584,309
ASURE SOFTWARE INC04649U102 · ASUR	COM	$583,000	68,511
AT HOME GROUP INC04650Y100	COM	$3.3m	226,437
AT&T INC00206R102 · T	COM	$7.0bn	165,335,162
ATARA BIOTHERAPEUTICS INC046513107 · ATRA	COM	$7.2m	506,378
ATHENAHEALTH INC04685W103	COM	$109.3m	1,039,703
ATHENE HLDG LTDG0684D107	CL A	$1.2m	24,297
ATHERSYS INC04744L106	COM	$1.3m	859,172
ATKORE INTL GROUP INC047649108 · ATKR	COM	$12.3m	513,766
ATLANTIC AMERN CORP048209100 · AAME	COM	$40,000	9,708
ATLANTIC CAP BANCSHARES INC048269203	COM	$2.9m	153,566
ATLANTIC COAST FINL CORP048426100	COM	$68,000	10,027
ATLANTIC PWR CORP04878Q863	COM NEW	$2.7m	1,084,279
ATLANTICA YIELD PLCG0751N103	SHS	$10.4m	535,851
ATLANTICUS HLDGS CORP04914Y102 · ATLC	COM	$1.5m	531,534
ATLAS AIR WORLDWIDE HLDGS IN049164205	COM NEW	$31.3m	600,206
ATLAS FINANCIAL HOLDINGS INCG06207115	SHS NEW	$2.5m	139,412
ATLASSIAN CORP PLCG06242104	CL A	$8.3m	344,849
ATMOS ENERGY CORP049560105 · ATO	COM	$255.8m	3,450,270
ATN INTL INC00215F107 · ATNI	COM	$23.2m	289,337
ATOSSA GENETICS INC04962H209	COM NEW	$10,000	7,401
ATRICURE INC04963C209 · ATRC	COM	$16.2m	829,491
ATRION CORP049904105	COM	$21.2m	41,742
ATWOOD OCEANICS INC050095108	COM	$20.6m	1,567,850
ATYR PHARMA INC002120103	COM	$762,000	354,543
AU OPTRONICS CORP002255107	SPONSORED ADR	$2.8m	779,381
AUDENTES THERAPEUTICS INC05070R104	COM	$677,000	37,065
AUTOBYTEL INC05275N205	COM NEW	$3.4m	250,428
AUTODESK INC052769106 · ADSK	COM	$399.5m	5,397,517
AUTOHOME INC05278C107 · ATHM	SP ADR RP CL A	$233,000	9,228
AUTOLIV INC052800109 · ALV	COM	$180.7m	1,596,685
AUTOMATIC DATA PROCESSING IN053015103 · ADP	COM	$1.3bn	12,768,254
AUTONATION INC05329W102 · AN	COM	$91.5m	1,881,766
AUTOZONE INC053332102 · AZO	COM	$663.6m	840,190
AV HOMES INC00234P102 · MHO	COM	$10.6m	671,225
AVALONBAY CMNTYS INC053484101	COM	$963.7m	5,440,128
AVANGRID INC05351W103	COM	$48.0m	1,267,881
AVEO PHARMACEUTICALS INC053588109	COM	$1.1m	1,945,975
AVERY DENNISON CORP053611109 · AVY	COM	$182.0m	2,592,055
AVEXIS INC05366U100	COM	$15.6m	325,979
AVIAT NETWORKS INC05366Y201 · AVNW	COM NEW	$2.3m	165,452
AVID TECHNOLOGY INC05367P100	COM	$3.4m	766,269
AVINGER INC053734109	COM	$792,000	213,922
AVIRAGEN THERAPEUTICS INC053761102	COM	$573,000	465,960
AVIS BUDGET GROUP053774105 · CAR	COM	$98.5m	2,684,193
AVISTA CORP05379B107 · AVA	COM	$78.6m	1,964,594
AVNET INC053807103 · AVT	COM	$192.3m	4,040,072
AVON PRODS INC054303102	COM	$70.2m	13,923,606
AVX CORP NEW002444107	COM	$17.3m	1,109,216
AWARE INC MASS05453N100 · AWRE	COM	$2.7m	449,162
AXALTA COATING SYS LTDG0750C108 · AXTA	COM	$147.8m	5,433,697
AXCELIS TECHNOLOGIES INC054540208 · ACLS	COM NEW	$11.7m	801,170
AXIS CAPITAL HOLDINGS LTDG0692U109 · AXS	SHS	$179.9m	2,755,557
AXOGEN INC05463X106 · AXGN	COM	$3.0m	337,143
AXOVANT SCIENCES LTDG0750W104	COM	$2.8m	228,823
AXSOME THERAPEUTICS INC05464T104 · AXSM	COM	$464,000	68,791
AXT INC00246W103 · AXTI	COM	$3.8m	785,287
CLEARSIDE BIOMEDICAL INC185063104	COM	$778,000	87,062
CLEARSIGN COMBUSTION CORP185064102	COM	$193,000	56,767
CLEARWATER PAPER CORP18538R103 · CLW	COM	$29.4m	448,356
CLIFFS NAT RES INC18683K101	COM	$47.9m	5,691,746
CLIFTON BANCORP INC186873105	COM	$5.7m	337,223
CLOROX CO DEL189054109 · CLX	COM	$498.2m	4,151,328

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.