Institution

Blackrock Investment Management, LLC

13F for December 31, 2016, filed February 10, 2017 · SEC CIK 1305227 · Holdings history from March 30, 2006

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

Reported value: $86.4bn
Positions we cover: 1,861
Copy, a year: +13.5%
Copy Sharpe ratio: 1.10

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.

Reports holdings for Pacific Life Fund Advisors LLC · SEC notice for June 30, 2013
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

3,953 reported entries for December 31, 2016.

Issuer	Class / type	Reported value	Quantity
OLD SECOND BANCORP INC ILL680277100 · OSBC	COM	$1.3m	115,539
OLIN CORP680665205 · OLN	COM PAR $1	$31.3m	1,222,038
OLLIES BARGAIN OUTLT HLDGS I681116109 · OLLI	COM	$3.9m	138,810
OLYMPIC STEEL INC68162K106	COM	$1.2m	49,969
OM ASSET MGMT PLCG67506108	SHS	$2.2m	153,048
OMEGA FLEX INC682095104 · OFLX	COM	$578,000	10,363
OMEGA HEALTHCARE INVS INC681936100 · OHI	COM	$21.0m	672,302
OMEGA PROTEIN CORP68210P107	COM	$2.3m	91,261
OMEROS CORP682143102 · OMER	COM	$1.6m	164,714
OMNICELL INC68213N109 · OMCL	COM	$6.2m	181,551
OMNICOM GROUP INC681919106 · OMC	COM	$130.5m	1,533,796
OMNOVA SOLUTIONS INC682129101	COM	$1.7m	174,836
ON ASSIGNMENT INC682159108	COM	$11.3m	255,258
ON DECK CAP INC682163100	COM	$924,000	199,462
ON SEMICONDUCTOR CORP682189105 · ON	COM	$4.3m	333,300
ON SEMICONDUCTOR CORP682189AK1	NOTE 1.000%12/0	$82,000	80,000
ONCOCYTE CORPORATION68235C107	COM	$5,000	715
ONCOMED PHARMACEUTICALS INC68234X102	COM	$665,000	86,206
ONCOSEC MED INC68234L207	COM NEW	$3,000	2,633
ONE GAS INC68235P108 · OGS	COM	$23.2m	362,300
ONE LIBERTY PPTYS INC682406103 · OLP	COM	$1.4m	56,768
ONEBEACON INSURANCE GROUP LTG67742109	CL A	$1.4m	87,067
ONEMAIN HLDGS INC68268W103 · OMF	COM	$690,000	31,178
ONEOK INC NEW682680103 · OKE	COM	$33.3m	580,213
RPC INC749660106 · RES	COM	$650,000	32,791
RPM INTL INC749685103 · RPM	COM	$24.4m	452,770
RPX CORP74972G103	COM	$2.2m	207,736
RSP PERMIAN INC74978Q105	COM	$17.8m	398,839
RTI SURGICAL INC74975N105	COM	$763,000	234,802
RUBICON PROJ INC78112V102	COM	$1.1m	151,803
RUBY TUESDAY INC781182100	COM	$1.0m	317,207
RUDOLPH TECHNOLOGIES INC781270103	COM	$3.9m	167,414
RUSH ENTERPRISES INC781846209 · RUSHA	CL A	$3.8m	120,054
RUSH ENTERPRISES INC781846308	CL B	$713,000	23,111
RUTHS HOSPITALITY GROUP INC783332109	COM	$3.0m	165,025
RYANAIR HLDGS PLC783513203 · RYAAY	SPONSORED ADR NE	$1.8m	21,422
RYDER SYS INC783549108 · R	COM	$8.7m	117,354
RYERSON HLDG CORP783754104 · RYZ	COM	$729,000	54,590
RYMAN HOSPITALITY PPTYS INC78377T107 · RHP	COM	$10.2m	162,318
S & T BANCORP INC783859101 · STBA	COM	$7.6m	195,416
S&P GLOBAL INC78409V104 · SPGI	COM	$60.9m	566,305
WAYNE SVGS BANCSHARES INC NE94624Q101	COM	$7,000	428
WAYSIDE TECHNOLOGY GROUP INC946760105 · CLMB	COM	$12,000	625
WCI CMNTYS INC92923C807	COM PAR $0.01	$2.9m	123,299
WD-40 CO929236107 · WDFC	COM	$8.3m	71,153
WEATHERFORD INTL PLCG48833100	ORD SHS	$4.6m	920,170
WEB COM GROUP INC94733A104	COM	$3.4m	160,037
WEBMD HEALTH CORP94770V102	COM	$12.4m	249,300
WEBSTER FINL CORP CONN947890109	COM	$34.9m	642,435
WEC ENERGY GROUP INC92939U106 · WEC	COM	$45.9m	783,192
WECAST NETWORK INC94850Q106	COM	$4,000	2,860
WEIBO CORP948596101 · WB	SPONSORED ADR	$546,000	13,437
WEIGHT WATCHERS INTL INC NEW948626106	COM	$1.2m	102,740
WEINGARTEN RLTY INVS948741103	SH BEN INT	$14.7m	411,970
WEIS MKTS INC948849104 · WMK	COM	$2.6m	39,519
WELLCARE HEALTH PLANS INC94946T106	COM	$21.7m	158,527
WELLESLEY BANCORP INC949485106	COM	$9,000	332
WELLS FARGO & CO94986RQF1	MTNF 6/0	$80,000	63,000
WELLS FARGO & CO94986RQH7	MTNF 6/1	$63,000	63,000
WELLS FARGO & CO NEW949746101 · WFC	COM	$856.4m	15,539,971
WELLS FARGO & CO NEW949746804	PERP PFD CNV A	$2.6m	2,189
WELLTOWER INC95040Q104 · WELL	COM	$56.0m	836,981
WELLTOWER INC95040Q203	6.50% PFD PREPET	$6.3m	103,924
WENDYS CO95058W100 · WEN	COM	$9.5m	701,861
WERNER ENTERPRISES INC950755108 · WERN	COM	$8.5m	314,376
WESBANCO INC950810101 · WSBC	COM	$7.1m	164,076
WESCO AIRCRAFT HLDGS INC950814103	COM	$3.3m	221,253
WESCO INTL INC95082P105 · WCC	COM	$1.9m	27,871
WEST BANCORPORATION INC95123P106 · WTBA	CAP STK	$1.7m	67,347
WEST CORP952355204	COM	$4.4m	177,431
WEST MARINE INC954235107	COM	$754,000	72,035
WEST PHARMACEUTICAL SVSC INC955306105 · WST	COM	$21.1m	249,107
WESTAMERICA BANCORPORATION957090103 · WABC	COM	$8.5m	135,243
WESTAR ENERGY INC95709T100	COM	$28.8m	511,505
WESTBURY BANCORP INC95727P106	COM	$11,000	546
WESTELL TECHNOLOGIES INC957541105	CL A	$5,000	8,166
WESTERN ALLIANCE BANCORP957638109 · WAL	COM	$2.3m	47,942
WESTERN ASSET MTG CAP CORP95790D105	COM	$1.8m	178,715
WESTERN DIGITAL CORP958102105 · WDC	COM	$45.6m	671,137
WESTERN DIGITAL CORP958102105 · WDC	OPTIONSCall	$238,000	3,500
WESTERN DIGITAL CORP958102105 · WDC	OPTIONSPut	$1.3m	19,000
WESTERN NEW ENG BANCORP INC958892101 · WNEB	COM	$654,000	69,908
WESTERN REFNG INC959319104	COM	$21.1m	556,439
WESTERN UN CO959802109 · WU	COM	$23.2m	1,069,121
WESTLAKE CHEM CORP960413102 · WLK	COM	$2.7m	48,585
WESTMORELAND COAL CO960878106	COM	$1.4m	76,628
WESTROCK CO96145D105	COM	$41.8m	823,960
WESTWOOD HLDGS GROUP INC961765104 · WHG	COM	$1.9m	31,342
WEX INC96208T104 · WEX	COM	$14.7m	131,363
WEYCO GROUP INC962149100 · WEYS	COM	$790,000	25,245
WEYERHAEUSER CO962166104 · WY	COM	$95.8m	3,184,871
WGL HLDGS INC92924F106	COM	$27.1m	354,955
WHEELER REAL ESTATE INVT TR963025101	COM	$20,000	11,841
WHIRLPOOL CORP963320106 · WHR	COM	$30.8m	169,347
WHITE MTNS INS GROUP LTDG9618E107 · WTM	COM	$2.0m	2,449
WHITESTONE REIT966084204	COM	$1.6m	113,323
WHITEWAVE FOODS CO966244105	COM	$34.7m	623,772
WHITING PETE CORP NEW966387102	COM	$7.3m	606,383
WHOLE FOODS MKT INC966837106	COM	$35.9m	1,166,898
WILEY JOHN & SONS INC968223206 · WLY	CL A	$8.5m	155,379

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 Investment Management, LLC'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 −12.2% (S&P 500 −11.2%); beta 1.04; alpha +0.2% a year (t = 0.41); last 12 months +21.9% against +20.1%.

Reported value by quarter

Blackrock Investment Management, LLC: 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	$56B
2013-09-30	$60.6B
2013-12-31	$67.4B
2014-03-31	$68.9B
2014-06-30	$74.4B
2014-09-30	$71.6B
2014-12-31	$75.5B
2015-03-31	$76.3B
2015-06-30	$80.5B
2015-09-30	$74.1B
2015-12-31	$78B
2016-03-31	$76.9B
2016-06-30	$79B
2016-09-30	$81.4B
2016-12-31	$86.4B

Latest covered holdings and moves

Covered holdings as of December 31, 2016.

Company	Share of portfolio	Value	Shares	Change in shares
AAPLApple Inc.	2.08%	$1.8bn	15.50M	+1.2% Added
MSFTMicrosoft Corporation	2.08%	$1.8bn	28.85M	+5.9% Added
JPMJPMorgan Chase	1.63%	$1.4bn	16.32M	−6.1% Reduced
AMZNAmazon	1.27%	$1.1bn	1.47M	+5.7% Added
CCitigroup	1.24%	$1.1bn	18.03M	+4.6% Added
GOOGLAlphabet Inc. (Class A)	1.22%	$1.1bn	1.33M	−4.2% Reduced
PFEPfizer	1.14%	$983.3m	30.27M	+2.2% Added
WFCWells Fargo	0.99%	$856.4m	15.54M	+2.3% Added
UNHUnitedHealth Group	0.98%	$844.0m	5.27M	−3.5% Reduced
JNJJohnson & Johnson	0.93%	$807.2m	7.01M	−3.4% Reduced
METAMeta Platforms	0.90%	$781.4m	6.79M	−17.4% Reduced
BACBank of America	0.90%	$773.2m	34.99M	+27.1% Added
CMCSAComcast	0.87%	$750.3m	10.87M	−0.7% Reduced
VZVerizon	0.85%	$737.6m	13.82M	+1.3% Added
HDThe Home Depot	0.83%	$716.7m	5.35M	−3.2% Reduced
CVXChevron Corporation	0.75%	$647.5m	5.50M	+1.4% Added
CSCOCisco	0.73%	$634.1m	20.98M	+0.6% Added
PGProcter & Gamble	0.62%	$534.2m	6.35M	+3.0% Added
TAT&T	0.61%	$529.6m	12.45M	+4.8% Added
MRKMerck & Co.	0.61%	$528.0m	8.97M	−11.2% Reduced
USBU.S. Bancorp	0.59%	$513.6m	10.00M	−6.6% Reduced
INTCIntel	0.59%	$509.9m	14.06M	+6.2% Added
VVisa Inc.	0.58%	$504.4m	6.47M	−14.7% Reduced
MOAltria	0.57%	$493.7m	7.30M	−0.2%
KOThe Coca-Cola Company	0.57%	$490.3m	11.82M	−0.3%
QCOMQualcomm	0.56%	$486.2m	7.46M	−4.7% Reduced
SLBSchlumberger	0.51%	$436.3m	5.20M	+0.8% Added
ORCLOracle Corporation	0.48%	$414.8m	10.79M	+4.8% Added
GSGoldman Sachs	0.48%	$413.0m	1.72M	−1.9% Reduced
MSMorgan Stanley	0.47%	$405.1m	9.59M	+7.8% Added
MMM3M	0.46%	$400.4m	2.24M	+0.5%
GILDGilead Sciences	0.46%	$400.4m	5.59M	−1.0% Reduced
PMPhilip Morris International	0.45%	$384.7m	4.20M	+2.9% Added
PEPPepsiCo	0.42%	$362.6m	3.47M	+6.4% Added
DISThe Walt Disney Company	0.39%	$340.6m	3.27M	+5.8% Added
BKNGBooking Holdings	0.39%	$338.3m	230.8K	+6.5% Added
AIGAmerican International Group	0.37%	$316.7m	4.85M	−8.5% Reduced
BIIBBiogen	0.36%	$314.1m	1.11M	+16.7% Added
IBMIBM	0.36%	$310.3m	1.87M	+6.0% Added
OXYOccidental Petroleum	0.35%	$299.8m	4.21M	−6.7% Reduced
NFLXNetflix	0.34%	$297.4m	2.40M	−1.4% Reduced
NKENike, Inc.	0.34%	$293.1m	5.77M	+20.7% Added
UPSUnited Parcel Service	0.33%	$285.8m	2.49M	−0.8% Reduced
CVSCVS Health	0.33%	$281.9m	3.57M	−2.0% Reduced
DALDelta Air Lines	0.33%	$281.3m	5.72M	+79.9% Added
HUMHumana	0.32%	$277.7m	1.36M	+90.7% Added
PRUPrudential Financial	0.32%	$275.0m	2.64M	−6.4% Reduced
AMGNAmgen	0.32%	$273.8m	1.87M	−17.0% Reduced
KRKroger	0.32%	$272.7m	7.90M	−1.5% Reduced
NEENextEra Energy	0.31%	$270.9m	2.27M	+1.7% Added
MPCMarathon Petroleum	0.31%	$266.9m	5.30M	−6.2% Reduced
MCDMcDonald's	0.30%	$256.6m	2.11M	+2.8% Added
LOWLowe's	0.30%	$256.6m	3.61M	+8.0% Added
ABBVAbbVie	0.29%	$253.8m	4.05M	+4.6% Added
MAMastercard	0.29%	$248.2m	2.40M	+14.0% Added
LMTLockheed Martin	0.28%	$241.5m	966.0K	−2.0% Reduced
EXCExelon	0.28%	$238.2m	6.71M	−0.8% Reduced
EOGEOG Resources	0.27%	$236.2m	2.34M	−4.1% Reduced
UNPUnion Pacific Corporation	0.27%	$235.0m	2.27M	−0.2%
MDTMedtronic	0.27%	$233.1m	3.27M	+0.1%
ELVElevance Health	0.27%	$230.3m	1.60M	−5.5% Reduced
METMetLife	0.26%	$222.9m	4.14M	−5.8% Reduced
BMYBristol Myers Squibb	0.26%	$222.8m	3.81M	+1.7% Added
NOCNorthrop Grumman	0.25%	$219.4m	943.5K	−4.0% Reduced
SUSuncor Energy Inc	0.25%	$219.2m	6.71M	+5.7% Added
BDXBecton Dickinson	0.25%	$218.1m	1.32M	−9.1% Reduced
DDominion Energy	0.25%	$215.0m	2.81M	−5.8% Reduced
WMTWalmart	0.25%	$213.0m	3.08M	+10.2% Added
STZConstellation Brands	0.24%	$209.4m	1.37M	+5.9% Added
TRVThe Travelers Companies	0.23%	$203.0m	1.66M	−15.5% Reduced
MDLZMondelez International	0.23%	$200.8m	4.53M	−4.1% Reduced
COFCapital One	0.23%	$200.1m	2.29M	−3.0% Reduced
DVNDevon Energy	0.23%	$199.4m	4.37M	+4.2% Added
BABoeing	0.22%	$193.7m	1.24M	−6.1% Reduced
COSTCostco	0.22%	$189.1m	1.18M	−9.8% Reduced
DGDollar General	0.21%	$184.1m	2.49M	−10.8% Reduced
SBUXStarbucks	0.21%	$182.1m	3.28M	−8.5% Reduced
VLOValero Energy	0.20%	$177.4m	2.61M	−1.0% Reduced
COPConocoPhillips	0.20%	$175.4m	3.50M	+0.7% Added
LUVSouthwest Airlines	0.19%	$165.1m	3.31M	−3.7% Reduced
AZNAstrazeneca PLC	0.19%	$164.0m	6.00M	−25.7% Reduced
LLYLilly (Eli)	0.19%	$162.5m	2.21M	−7.9% Reduced
ACNAccenture	0.19%	$160.3m	1.37M	+6.2% Added
IPInternational Paper	0.18%	$160.2m	3.02M	−2.4% Reduced
TXNTexas Instruments	0.18%	$158.7m	2.18M	+5.7% Added
NVDANVIDIA Corporation	0.18%	$157.7m	1.48M	+6.3% Added
PEGPublic Service Enterprise Group	0.18%	$155.9m	3.55M	−3.0% Reduced
KEYKeyCorp	0.18%	$153.2m	8.39M	−4.1% Reduced
ASMLAsml Holding NV	0.17%	$149.6m	1.33M	+50.5% Added
BAXBaxter International	0.17%	$149.0m	3.36M	+6.1% Added
CHTRCharter Communications	0.17%	$148.2m	514.9K	+5.6% Added
CMECME Group	0.17%	$146.1m	1.27M	−20.9% Reduced
SPGSimon Property Group	0.17%	$145.7m	820.0K	+8.9% Added
MRSHMarsh McLennan	0.17%	$144.6m	2.14M	−2.3% Reduced
ROPRoper Technologies	0.16%	$141.5m	773.1K	+14.8% Added
ZBHZimmer Biomet	0.16%	$141.1m	1.37M	+24.9% Added
CTSHCognizant	0.16%	$140.3m	2.50M	−3.6% Reduced
DGXQuest Diagnostics	0.16%	$135.1m	1.47M	−4.6% Reduced
CBChubb Limited	0.16%	$134.7m	1.02M	+5.0% Added
UALUnited Airlines Holdings	0.16%	$134.4m	1.84M	−4.5% Reduced
BSXBoston Scientific	0.15%	$133.9m	6.19M	−9.7% Reduced
HALHalliburton	0.15%	$130.9m	2.42M	+4.0% Added
OMCOmnicom Group	0.15%	$130.5m	1.53M	+0.2%
GPNGlobal Payments	0.15%	$129.1m	1.86M	+7.9% Added
SHWSherwin-Williams	0.15%	$126.5m	470.7K	+3.5% Added
REGNRegeneron Pharmaceuticals	0.14%	$124.5m	339.1K	−41.6% Reduced
LEALear Corp	0.14%	$123.7m	934.2K	−9.5% Reduced
EQIXEquinix	0.14%	$122.7m	343.4K	+133.2% Added
TMOThermo Fisher Scientific	0.14%	$119.6m	847.6K	−3.1% Reduced
CDWCDW Corporation	0.14%	$118.6m	2.28M	−3.3% Reduced
CLColgate-Palmolive	0.14%	$117.3m	1.79M	+7.6% Added
AYIAcuity Inc. (de)	0.14%	$116.7m	505.3K	+38.0% Added
ABTAbbott Laboratories	0.13%	$115.3m	3.00M	+5.6% Added
CICigna	0.13%	$115.2m	863.6K	−5.5% Reduced
LRCXLam Research	0.13%	$114.7m	1.08M	−1.8% Reduced
ZTSZoetis	0.13%	$114.7m	2.14M	+101.4% Added
NSCNorfolk Southern	0.13%	$113.3m	1.05M	−34.1% Reduced
SCHWCharles Schwab Corporation	0.13%	$112.9m	2.86M	+5.5% Added
AXPAmerican Express	0.13%	$112.4m	1.52M	−15.6% Reduced
DUKDuke Energy	0.13%	$111.7m	1.44M	+10.5% Added
CATCaterpillar Inc.	0.13%	$111.0m	1.20M	+6.4% Added
PNCPNC Financial Services	0.13%	$110.9m	948.0K	+6.4% Added
ADBEAdobe Inc.	0.13%	$110.8m	1.08M	−2.7% Reduced
AESAES Corporation	0.13%	$109.9m	9.46M	−5.4% Reduced
TJXTJX Companies	0.12%	$106.1m	1.41M	+4.5% Added
KMBKimberly-Clark	0.12%	$103.7m	908.7K	+17.1% Added
KHCKraft Heinz	0.12%	$102.9m	1.18M	+6.7% Added
MSIMotorola Solutions	0.12%	$102.1m	1.23M	−6.4% Reduced
ADPAutomatic Data Processing	0.12%	$102.0m	992.0K	+6.0% Added
AMTAmerican Tower	0.12%	$101.9m	964.8K	+4.8% Added
TEVATeva Pharmaceutical Industries LTD	0.12%	$100.1m	2.76M	−2.6% Reduced
FFord Motor Company	0.12%	$100.0m	8.24M	+4.6% Added
FISVFiserv	0.11%	$98.7m	928.6K	+1.9% Added
FDXFedEx	0.11%	$98.2m	527.6K	+5.2% Added
BNYBNY Mellon	0.11%	$98.2m	2.07M	+6.5% Added
EFXEquifax	0.11%	$98.1m	829.5K	+232.1% Added
CMSCMS Energy	0.11%	$97.4m	2.34M	−9.0% Reduced
WYWeyerhaeuser	0.11%	$95.8m	3.18M	−4.6% Reduced
PYPLPayPal	0.11%	$95.3m	2.41M	+5.5% Added
CRMSalesforce	0.11%	$94.6m	1.38M	−46.7% Reduced
GDGeneral Dynamics	0.11%	$94.1m	545.2K	+4.1% Added
DHRDanaher Corporation	0.11%	$94.0m	1.21M	+5.6% Added
PSXPhillips 66	0.11%	$93.5m	1.08M	+5.8% Added
GMGeneral Motors	0.11%	$93.2m	2.68M	+4.2% Added
TGTTarget Corporation	0.11%	$93.1m	1.29M	−4.8% Reduced
SOSouthern Company	0.11%	$92.6m	1.88M	+6.6% Added
MTBM&T Bank	0.11%	$92.3m	590.4K	−6.2% Reduced
SYKStryker Corporation	0.10%	$91.1m	760.6K	+5.7% Added
BLKBlackRock	0.10%	$89.7m	235.6K	+6.5% Added
DPZDomino's	0.10%	$89.0m	559.1K	+11.9% Added

Company	Bought (value)	Shares
BACBank of America	$164.9m	7.46M
HUMHumana	$132.1m	647.4K
DALDelta Air Lines	$125.0m	2.54M
MSFTMicrosoft Corporation	$100.2m	1.61M
EQIXEquinix	$70.1m	196.2K
EFXEquifax	$68.5m	579.7K
AMZNAmazon	$59.5m	79.3K
ZTSZoetis	$57.7m	1.08M
ICEIntercontinental Exchange	$54.7m	970.1K
ULTAUlta Beauty	$51.5m	201.9K
NKENike, Inc.	$50.3m	989.5K
ASMLAsml Holding NV	$50.2m	447.4K
CCitigroup	$47.5m	798.5K
BIIBBiogen	$45.1m	158.9K
DLTRDollar Tree	$42.2m	546.6K

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

Company	Sold (value)	Shares
METAMeta Platforms	−$165.0m	−1.43M
ILMNIllumina, Inc.	−$98.5m	−769.1K
BUDAnheuser-busch Inbev SA	−$96.3m	−913.3K
JPMJPMorgan Chase	−$91.2m	−1.06M
REGNRegeneron Pharmaceuticals	−$88.8m	−242.0K
VVisa Inc.	−$86.9m	−1.11M
CRMSalesforce	−$82.8m	−1.21M
AAAlcoa Corp	−$78.5m	−2.80M
MRKMerck & Co.	−$66.5m	−1.13M
NSCNorfolk Southern	−$58.7m	−543.2K
LBTYKLiberty Global Ltd.	−$57.0m	−1.91M
AZNAstrazeneca PLC	−$56.7m	−2.08M
AMGNAmgen	−$56.1m	−383.8K
TAPMolson Coors Beverage Co	−$56.1m	−576.6K
GOOGLAlphabet Inc. (Class A)	−$46.2m	−58.3K

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

Company	Value last quarter	Shares
ERICEricsson LM Telephone Co	$10.6m	1.47M
CCJCameco Corp	$4.4m	517.6K
AEMAgnico Eagle Mines LTD	$1.0m	18.5K
HDBHdfc Bank LTD	$539,000	7.5K
CHTChunghwa Telecom Co LTD	$147,000	4.2K
SAPSAP SE	$63,000	694
ATHMAutohome Inc.	$51,000	2.1K
PUKPrudential PLC	$13,000	352
CIGEnergy Co Of Minas Gerais	$1,000	349

Financials19.2%
Technology15.3%
Health Care14.3%
Consumer Discretionary9.9%
Industrials9.7%
Communication Services8.2%
Consumer Staples8.1%
Energy5.4%
Utilities4.0%
Real Estate3.2%
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	+13.5%	+12.7%	1.10	1.08	−12.2%	1.04
Last three yearsMay 30, 2014 to May 26, 2017	+11.0%	+10.1%	0.87	0.84	−12.2%	1.04
Last yearMay 27, 2016 to May 26, 2017	+19.0%	+17.4%	1.83	1.84	−4.2%	1.09

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.