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
USA TRUCK INC902925106	COM	$3.1m	355,492
USANA HEALTH SCIENCES INC90328M107 · USNA	COM	$16.8m	274,612
UTAH MED PRODS INC917488108 · UTMD	COM	$2.6m	36,406
V F CORP918204108 · VFC	COM	$469.5m	8,800,462
VAALCO ENERGY INC91851C201 · EGY	COM NEW	$1.6m	1,541,164
VAIL RESORTS INC91879Q109 · MTN	COM	$211.1m	1,308,744
VALERO ENERGY CORP NEW91913Y100 · VLO	COM	$889.3m	13,017,269
VALHI INC NEW918905100 · VHI	COM	$1.6m	459,139
VALIDUS HOLDINGS LTDG9319H102	COM SHS	$111.7m	2,030,167
VALLEY NATL BANCORP919794107 · VLY	COM	$89.5m	7,686,312
VALMONT INDS INC920253101 · VMI	COM	$94.0m	667,116
VALSPAR CORP920355104	COM	$246.6m	2,379,706
VALUE LINE INC920437100 · VALU	COM	$966,000	49,521
VALVOLINE INC92047W101 · VVV	COM	$12.4m	576,924
VANDA PHARMACEUTICALS INC921659108 · VNDA	COM	$19.5m	1,224,332
VANECK VECTORS ETF TR92189F403	RUSSIA ETF	$16.1m	759,997
VANECK VECTORS ETF TR92189F775	EGYPT INDX ETF	$110,000	4,151
VANGUARD INDEX FDS922908553	REIT ETF	$95.2m	1,153,658
VANTIV INC92210H105	CL A	$251.6m	4,220,656
VARIAN MED SYS INC92220P105	COM	$245.4m	2,733,233
VARONIS SYS INC922280102 · VRNS	COM	$10.5m	392,845
VASCO DATA SEC INTL INC92230Y104	COM	$10.5m	772,819
VASCULAR SOLUTIONS INC92231M109	COM	$25.5m	454,724
VCA INC918194101	COM	$221.8m	3,230,970
VECTOR GROUP LTD92240M108	COM	$56.1m	2,465,989
VECTREN CORP92240G101	COM	$131.8m	2,527,713
VECTRUS INC92242T101 · VVX	COM	$11.5m	481,793
VEDANTA LTD92242Y100	SPONSORED ADR	$543,000	43,689
VEECO INSTRS INC DEL922417100 · VECO	COM	$31.2m	1,068,965
VEEVA SYS INC922475108 · VEEV	CL A COM	$109.2m	2,683,161
VENTAS INC92276F100 · VTR	COM	$938.8m	15,015,457
VERA BRADLEY INC92335C106 · VRA	COM	$6.2m	525,781
VERACYTE INC92337F107 · VCYT	COM	$1.1m	142,872
VERASTEM INC92337C104 · VSTM	COM	$347,000	309,934
VEREIT INC92339V100	COM	$280.3m	33,137,500
VERICEL CORP92346J108 · VCEL	COM	$3.1m	1,049,064
VERIFONE SYS INC92342Y109	COM	$61.7m	3,479,416
VERINT SYS INC92343X100	COM	$63.9m	1,812,801
VERISIGN INC92343E102 · VRSN	COM	$223.8m	2,941,499
VERISK ANALYTICS INC92345Y106 · VRSK	COM	$335.7m	4,136,166
VERITEX HLDGS INC923451108	COM	$1.6m	59,114
VERITIV CORP923454102	COM	$12.7m	236,599
VERIZON COMMUNICATIONS INC92343V104 · VZ	COM	$5.9bn	110,156,104
VERMILLION INC92407M206	COM NEW	$13,000	14,092
VERSARTIS INC92529L102	COM	$8.2m	550,931
VERSO CORP92531L207	CL A	$6,000	815
VERSUM MATLS INC92532W103	COM	$87.9m	3,129,953
VERTEX PHARMACEUTICALS INC92532F100 · VRTX	COM	$481.2m	6,532,503
VIACOM INC NEW92553P102	CL A	$3.0m	77,555
VIACOM INC NEW92553P201	CL B	$343.0m	9,772,809
VIAD CORP92552R406 · PRSU	COM NEW	$24.0m	543,471
VIASAT INC92552V100 · VSAT	COM	$105.2m	1,588,331
VIAVI SOLUTIONS INC925550105 · VIAV	COM	$49.8m	6,082,138
VICAL INC925602203	COM NEW	$771,000	335,163
VICOR CORP925815102 · VICR	COM	$8.2m	540,255
VIEWRAY INC92672L107	COM	$123,000	39,289
AZZ INC002474104 · AZZ	COM	$42.0m	657,463
B & G FOODS INC NEW05508R106 · BGS	COM	$73.3m	1,672,607
B RILEY FINL INC05580M108 · RILY	COM	$1.2m	62,889
1 800 FLOWERS COM68243Q106 · FLWS	CL A	$7.8m	732,537
1ST SOURCE CORP336901103 · SRCE	COM	$23.3m	522,155
21VIANET GROUP INC90138A103 · VNET	SPONSORED ADR	$4.1m	579,565
22ND CENTY GROUP INC90137F103 · XXII	COM	$131,000	119,786
2U INC90214J101	COM	$32.6m	1,082,354
3-D SYS CORP DEL88554D205 · DDD	COM NEW	$41.4m	3,115,014
3M CO88579Y101 · MMM	COM	$2.8bn	15,956,581
500 COM LTD33829R100	SPON ADR REP A	$1.4m	93,051
51JOB INC316827104	SP ADR REP COM	$2.9m	85,659
58 COM INC31680Q104	SPON ADR REP A	$26.1m	933,552
8X8 INC NEW282914100 · EGHT	COM	$34.0m	2,376,685
A H BELO CORP001282102	COM CL A	$3.4m	543,108
A MARK PRECIOUS METALS INC00181T107 · GOLD	COM	$194,000	9,969
A10 NETWORKS INC002121101 · ATEN	COM	$19.3m	2,326,616
AAC HLDGS INC000307108	COM	$1.6m	224,547
AAON INC000360206 · AAON	COM PAR $0.004	$34.4m	1,041,376
AAR CORP000361105 · AIR	COM	$30.6m	926,588
AARONS INC002535300	COM PAR $0.50	$70.6m	2,206,641
ABAXIS INC002567105	COM	$30.6m	580,611
ABBOTT LABS002824100 · ABT	COM	$1.5bn	39,354,519
ABBVIE INC00287Y109 · ABBV	COM	$2.7bn	43,460,085
ABEONA THERAPEUTICS INC00289Y107 · ABEO	COM	$982,000	202,550
ABERCROMBIE & FITCH CO002896207 · ANF	CL A	$21.0m	1,749,561
ABIOMED INC003654100	COM	$138.5m	1,229,259
ABM INDS INC000957100 · ABM	COM	$71.4m	1,747,155
ABRAXAS PETE CORP003830106	COM	$10.1m	3,934,427
ACACIA COMMUNICATIONS INC00401C108	COM	$14.4m	233,043
ACACIA RESH CORP003881307 · ACTG	ACACIA TCH COM	$7.9m	1,219,024
ACADIA HEALTHCARE COMPANY IN00404A109 · ACHC	COM	$66.2m	1,999,875
ACADIA PHARMACEUTICALS INC004225108 · ACAD	COM	$69.1m	2,397,396
ACADIA RLTY TR004239109 · AKR	COM SH BEN INT	$96.9m	2,964,179
ACCELERATE DIAGNOSTICS INC00430H102	COM	$13.5m	649,348
ACCELERON PHARMA INC00434H108	COM	$19.7m	771,977
ACCENTURE PLC IRELANDG1151C101 · ACN	SHS CLASS A	$2.1bn	17,523,405
ACCESS NATL CORP004337101	COM	$2.8m	101,212
ACCO BRANDS CORP00081T108 · ACCO	COM	$38.1m	2,922,442
ACCURAY INC004397105 · ARAY	COM	$9.9m	2,158,656
ACELRX PHARMACEUTICALS INC00444T100	COM	$2.4m	920,173
ACETO CORP004446100	COM	$16.4m	746,542
ACHAOGEN INC004449104	COM	$5.6m	430,796
ACHILLION PHARMACEUTICALS IN00448Q201	COM	$16.0m	3,867,795

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.