Institution

Blackrock Japan Co. Ltd

13F for December 31, 2016, filed February 10, 2017 · SEC CIK 1085635 · Holdings history from March 31, 1999

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

Reported value: $30.3bn
Positions we cover: 789
Copy, a year: +10.1%
Copy Sharpe ratio: 0.59

Copy-performance statistics: February 15, 2008 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

1,312 reported entries for December 31, 2016.

Issuer	Class / type	Reported value	Quantity
CULP INC230215105 · CULP	COM	$43,000	1,152
CUMMINS INC231021106 · CMI	COM	$29.1m	212,752
CUTERA INC232109108	COM	$62,000	3,567
CVS HEALTH CORP126650100 · CVS	COM	$134.0m	1,697,612
CYNOSURE INC232577205	CL A	$24,000	516
CYRUSONE INC23283R100	COM	$138,000	3,080
CYTOMX THERAPEUTICS INC23284F105 · CTMX	COM	$18,000	1,671
JOHN BEAN TECHNOLOGIES CORP477839104 · JBTM	COM	$108,000	1,255
JOHNSON & JOHNSON478160104 · JNJ	COM	$438.5m	3,806,098
JOHNSON CTLS INTL PLCG51502105 · JCI	SHS	$50.3m	1,220,853
JONES LANG LASALLE INC48020Q107 · JLL	COM	$7.4m	73,635
JPMORGAN CHASE & CO46625H100 · JPM	COM	$451.0m	5,226,657
JUNIPER NETWORKS INC48203R104	COM	$12.2m	431,627
JUNIPER PHARMACEUTICALS INC48203L107	COM	$4,000	689
K12 INC48273U102	COM	$11,000	636
KADMON HLDGS INC48283N106	COM	$6,000	1,157
KANSAS CITY SOUTHERN485170302	COM NEW	$11.4m	134,800
KAPSTONE PAPER & PACKAGING C48562P103	COM	$0	2
KELLOGG CO487836108	COM	$27.3m	370,579
KEMET CORP488360207	COM NEW	$45,000	6,799
KEYCORP NEW493267108 · KEY	COM	$28.7m	1,569,086
KEYSIGHT TECHNOLOGIES INC49338L103 · KEYS	COM	$2,000	67
KILROY RLTY CORP49427F108 · KRC	COM	$284,000	3,885
KIMBALL INTL INC494274103	CL B	$32,000	1,838
KIMBERLY CLARK CORP494368103 · KMB	COM	$56.2m	492,581
KIMCO RLTY CORP49446R109 · KIM	COM	$13.3m	527,912
KINDER MORGAN INC DEL49456B101 · KMI	COM	$52.9m	2,554,218
KINDRED BIOSCIENCES INC494577109	COM	$9,000	2,203
KITE PHARMA INC49803L109	COM	$17,000	373
KITE RLTY GROUP TR49803T300 · KRG	COM NEW	$82,000	3,481
KLA-TENCOR CORP482480100 · KLAC	COM	$20.8m	264,386
KNOLL INC498904200	COM NEW	$71,000	2,528
KOHLS CORP500255104 · KSS	COM	$14.8m	300,274
KOPPERS HOLDINGS INC50060P106 · KOP	COM	$29,000	732
KRAFT HEINZ CO500754106 · KHC	COM	$70.2m	803,658
KROGER CO501044101 · KR	COM	$47.2m	1,368,105
L BRANDS INC501797104	COM	$20.7m	315,068
L-3 COMMUNICATIONS HLDGS INC502424104	COM	$15.4m	100,980
LA Z BOY INC505336107 · LZB	COM	$26,000	828
LABORATORY CORP AMER HLDGS50540R409	COM NEW	$16.4m	127,776
LAM RESEARCH CORP512807108 · LRCX	COM	$21.2m	200,900
LANDSTAR SYS INC515098101 · LSTR	COM	$606,000	7,106
LANTHEUS HLDGS INC516544103 · LNTH	COM	$16,000	1,855
LAREDO PETROLEUM INC516806106	COM	$430,000	30,391
LAS VEGAS SANDS CORP517834107 · LVS	COM	$31.6m	591,123
LASALLE HOTEL PPTYS517942108	COM SH BEN INT	$145,000	4,768
LAUDER ESTEE COS INC518439104 · EL	CL A	$25.3m	330,320
LEAR CORP521865204 · LEA	COM NEW	$27.9m	211,081
LEGG MASON INC524901105	COM	$2.0m	65,586
LEGGETT & PLATT INC524660107	COM	$9.1m	185,770
LEMAITRE VASCULAR INC525558201 · LMAT	COM	$59,000	2,327
LENNAR CORP526057104 · LEN	CL A	$10.3m	239,953
LENNOX INTL INC526107107 · LII	COM	$519,000	3,388
LEUCADIA NATL CORP527288104	COM	$9.8m	421,417
LEVEL 3 COMMUNICATIONS INC52729N308	COM NEW	$21.8m	387,363
LEXICON PHARMACEUTICALS INC528872302 · LXRX	COM NEW	$145,000	10,514
LEXINGTON REALTY TRUST529043101	COM	$96,000	8,906
LHC GROUP INC50187A107	COM	$21,000	456
LIBERTY BROADBAND CORP530307305	COM SER C	$10.4m	140,324
LIBERTY GLOBAL PLCG5480U104 · LBTYK	SHS CL A	$10.2m	332,674
LIBERTY GLOBAL PLCG5480U120 · LBTYK	SHS CL C	$23.9m	804,792
LIBERTY GLOBAL PLCG5480U153 · LBTYK	LILAC SHS CL C	$3.3m	155,030
LIBERTY INTERACTIVE CORP53071M104	QVC GP COM SER A	$11.0m	550,330
LIBERTY MEDIA CORP DELAWARE531229409	COM A SIRIUSXM	$4.3m	124,332
LIBERTY MEDIA CORP DELAWARE531229607	COM C SIRIUSXM	$9.1m	268,141
LIBERTY PPTY TR531172104	SH BEN INT	$8.3m	211,080
LIBERTY TRIPADVISOR HLDGS IN531465102	COM SER A	$4,000	299
LIFE STORAGE INC53223X107	COM	$166,000	1,947
LIFELOCK INC53224V100	COM	$365,000	15,265
LIGAND PHARMACEUTICALS INC53220K504 · LGND	COM NEW	$19,000	185
LILLY ELI & CO532457108 · LLY	COM	$99.3m	1,349,949
LINCOLN NATL CORP IND534187109 · LNC	COM	$22.5m	339,924
LINEAR TECHNOLOGY CORP535678106	COM	$18.5m	296,902
LITHIA MTRS INC536797103 · LAD	CL A	$24,000	252
LKQ CORP501889208 · LKQ	COM	$11.9m	389,135
LOCKHEED MARTIN CORP539830109 · LMT	COM	$101.5m	406,173
LOEWS CORP540424108 · L	COM	$16.5m	352,781
LOGMEIN INC54142L109	COM	$93,000	966
LOUISIANA PAC CORP546347105 · LPX	COM	$34,000	1,807
LOWES COS INC548661107 · LOW	COM	$107.5m	1,511,610
LTC PPTYS INC502175102 · LTC	COM	$77,000	1,642
LULULEMON ATHLETICA INC550021109 · LULU	COM	$9.5m	146,883
LYON WILLIAM HOMES552074700	CL A NEW	$7,000	343
LYONDELLBASELL INDUSTRIES NN53745100 · LYB	SHS - A -	$46.4m	540,714
M & T BK CORP55261F104 · MTB	COM	$29.7m	190,003
M/I HOMES INC55305B101 · MHO	COM	$6,000	244
MACERICH CO554382101 · MAC	COM	$12.3m	173,611
MACK CALI RLTY CORP554489104	COM	$108,000	3,730
MACQUARIE INFRASTRUCTURE COR55608B105	COM	$7.5m	92,262
PC CONNECTION INC69318J100 · CNXN	COM	$15,000	540
PDC ENERGY INC69327R101	COM	$112,000	1,538
PEBBLEBROOK HOTEL TR70509V100 · PEB	COM	$92,000	3,100
PENNSYLVANIA RL ESTATE INVT709102107	SH BEN INT	$54,000	2,861
PENNYMAC MTG INVT TR70931T103 · PMT	COM	$6.5m	399,707
PENSKE AUTOMOTIVE GRP INC70959W103 · PAG	COM	$63,000	1,224
PENTAIR PLCG7S00T104 · PNR	SHS	$12.8m	228,332
PEOPLES UNITED FINANCIAL INC712704105	COM	$7.5m	385,768
PEPSICO INC713448108 · PEP	COM	$204.3m	1,952,126
PERFORMANCE FOOD GROUP CO71377A103 · PFGC	COM	$41,000	1,689
PERRIGO CO PLCG97822103 · PRGO	SHS	$15.7m	188,670

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 Japan Co. Ltd's usable filed holdings in companies we cover from February 15, 2008, 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 −51.2% (S&P 500 −50.8%); beta 1.00; alpha +1.2% a year (t = 1.70); last 12 months +21.6% against +20.1%.

Reported value by quarter

Blackrock Japan Co. Ltd: 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	$21.7B
2013-09-30	$21B
2013-12-31	$22.5B
2014-03-31	$22.4B
2014-06-30	$21.9B
2014-09-30	$23.2B
2014-12-31	$26.1B
2015-03-31	$25B
2015-06-30	$25.9B
2015-09-30	$25B
2015-12-31	$26.8B
2016-03-31	$26.9B
2016-06-30	$27.9B
2016-09-30	$29.3B
2016-12-31	$30.3B

Latest covered holdings and moves

Covered holdings as of December 31, 2016.

Company	Share of portfolio	Value	Shares	Change in shares
AAPLApple Inc.	2.87%	$868.8m	7.50M	−1.5% Reduced
MSFTMicrosoft Corporation	2.15%	$651.8m	10.49M	−1.1% Reduced
JPMJPMorgan Chase	1.49%	$451.0m	5.23M	+1.5% Added
JNJJohnson & Johnson	1.45%	$438.5m	3.81M	−3.3% Reduced
AMZNAmazon	1.34%	$407.3m	543.1K	−1.5% Reduced
METAMeta Platforms	1.21%	$365.3m	3.17M	−1.4% Reduced
WFCWells Fargo	1.17%	$354.2m	6.43M	−0.4%
TAT&T	1.15%	$346.9m	8.16M	−0.3%
BACBank of America	1.06%	$321.1m	14.53M	+4.4% Added
GOOGLAlphabet Inc. (Class A)	1.05%	$319.5m	403.2K	−1.4% Reduced
CVXChevron Corporation	1.01%	$305.6m	2.60M	−1.2% Reduced
VZVerizon	0.96%	$292.3m	5.48M	−0.3%
PGProcter & Gamble	0.94%	$285.4m	3.39M	−5.2% Reduced
PFEPfizer	0.93%	$281.5m	8.67M	+3.4% Added
HDThe Home Depot	0.83%	$252.1m	1.88M	+7.8% Added
CCitigroup	0.83%	$250.9m	4.22M	+3.0% Added
INTCIntel	0.82%	$249.0m	6.86M	+5.0% Added
CSCOCisco	0.78%	$236.1m	7.81M	−0.3%
UNHUnitedHealth Group	0.78%	$235.0m	1.47M	+5.3% Added
CMCSAComcast	0.77%	$232.3m	3.36M	+5.4% Added
MRKMerck & Co.	0.74%	$225.7m	3.83M	−0.3%
KOThe Coca-Cola Company	0.74%	$224.7m	5.42M	−1.2% Reduced
IBMIBM	0.72%	$217.3m	1.31M	+7.0% Added
DISThe Walt Disney Company	0.70%	$213.3m	2.05M	−0.1%
PEPPepsiCo	0.67%	$204.3m	1.95M	+1.8% Added
VVisa Inc.	0.65%	$196.0m	2.51M	+0.5%
MOAltria	0.64%	$193.2m	2.86M	−5.4% Reduced
PMPhilip Morris International	0.63%	$189.3m	2.07M	+0.1%
WMTWalmart	0.58%	$174.4m	2.52M	+1.8% Added
SLBSchlumberger	0.54%	$164.5m	1.96M	+5.6% Added
AMGNAmgen	0.53%	$161.5m	1.10M	+0.7% Added
ORCLOracle Corporation	0.52%	$157.3m	4.09M	+0.7% Added
GILDGilead Sciences	0.48%	$145.5m	2.03M	+0.7% Added
MMM3M	0.47%	$143.7m	804.8K	−9.1% Reduced
MAMastercard	0.47%	$143.2m	1.39M	−11.4% Reduced
BABoeing	0.47%	$141.9m	911.2K	+2.0% Added
ABBVAbbVie	0.47%	$141.0m	2.25M	+0.4%
QCOMQualcomm	0.46%	$140.1m	2.15M	+4.0% Added
MCDMcDonald's	0.46%	$139.5m	1.15M	−9.3% Reduced
CVSCVS Health	0.44%	$134.0m	1.70M	+13.3% Added
MDTMedtronic	0.44%	$132.5m	1.86M	+0.2%
BMYBristol Myers Squibb	0.44%	$132.3m	2.26M	−6.3% Reduced
TXNTexas Instruments	0.40%	$122.4m	1.68M	−3.8% Reduced
BABAAlibaba Group Holding Ltd	0.40%	$122.2m	1.39M	−1.8% Reduced
UNPUnion Pacific Corporation	0.40%	$120.0m	1.16M	+6.2% Added
USBU.S. Bancorp	0.39%	$117.6m	2.29M	+1.6% Added
GSGoldman Sachs	0.38%	$115.1m	480.7K	−2.2% Reduced
SBUXStarbucks	0.36%	$110.0m	1.98M	−10.1% Reduced
ACNAccenture	0.36%	$108.7m	927.9K	+0.6% Added
UPSUnited Parcel Service	0.36%	$108.1m	943.2K	+3.4% Added
LOWLowe's	0.35%	$107.5m	1.51M	−2.7% Reduced
LMTLockheed Martin	0.34%	$101.5m	406.2K	+13.3% Added
LLYLilly (Eli)	0.33%	$99.3m	1.35M	+0.1%
SPGSimon Property Group	0.32%	$97.9m	550.9K	−1.4% Reduced
BKNGBooking Holdings	0.32%	$95.7m	65.3K	+2.3% Added
AIGAmerican International Group	0.31%	$93.6m	1.43M	−1.9% Reduced
COSTCostco	0.31%	$92.6m	578.4K	−1.2% Reduced
MDLZMondelez International	0.30%	$92.2m	2.08M	+0.1%
EOGEOG Resources	0.30%	$91.7m	907.1K	+15.1% Added
NKENike, Inc.	0.30%	$90.2m	1.77M	−12.0% Reduced
BIIBBiogen	0.30%	$89.5m	315.7K	+1.9% Added
MSMorgan Stanley	0.29%	$86.6m	2.05M	+0.7% Added
COPConocoPhillips	0.28%	$85.9m	1.71M	+1.8% Added
ADBEAdobe Inc.	0.28%	$84.3m	819.0K	−3.5% Reduced
CHTRCharter Communications	0.27%	$81.6m	283.3K	+0.8% Added
CBChubb Limited	0.26%	$80.0m	605.4K	+1.4% Added
NVDANVIDIA Corporation	0.26%	$78.6m	736.6K	+2.5% Added
AXPAmerican Express	0.26%	$77.7m	1.05M	+0.8% Added
SCHWCharles Schwab Corporation	0.26%	$77.1m	1.95M	−6.4% Reduced
PNCPNC Financial Services	0.25%	$76.8m	656.8K	+0.7% Added
FDXFedEx	0.25%	$76.8m	412.5K	−4.2% Reduced
OXYOccidental Petroleum	0.25%	$75.2m	1.06M	−0.5% Reduced
ABTAbbott Laboratories	0.24%	$74.3m	1.93M	+1.4% Added
CLColgate-Palmolive	0.24%	$73.6m	1.12M	+0.2%
NEENextEra Energy	0.24%	$73.4m	614.3K	+3.8% Added
TMOThermo Fisher Scientific	0.24%	$73.3m	519.5K	+1.5% Added
CMECME Group	0.24%	$73.3m	635.3K	−10.2% Reduced
TJXTJX Companies	0.24%	$73.0m	971.7K	+5.1% Added
GMGeneral Motors	0.24%	$73.0m	2.09M	+15.1% Added
BNYBNY Mellon	0.24%	$72.9m	1.54M	+4.6% Added
CATCaterpillar Inc.	0.24%	$72.0m	776.8K	+0.8% Added
DUKDuke Energy	0.24%	$71.8m	925.5K	+1.2% Added
KHCKraft Heinz	0.23%	$70.2m	803.7K	+1.2% Added
NFLXNetflix	0.23%	$69.4m	560.6K	+1.5% Added
ADPAutomatic Data Processing	0.23%	$69.4m	674.8K	−2.8% Reduced
SOSouthern Company	0.22%	$66.6m	1.35M	+5.7% Added
METMetLife	0.22%	$65.9m	1.22M	+0.8% Added
DHRDanaher Corporation	0.21%	$64.3m	825.5K	−0.7% Reduced
COFCapital One	0.21%	$64.0m	733.3K	+2.9% Added
ITWIllinois Tool Works	0.21%	$63.9m	521.8K	−4.3% Reduced
PRUPrudential Financial	0.21%	$63.2m	607.5K	+2.8% Added
TGTTarget Corporation	0.21%	$63.0m	872.7K	+18.5% Added
HALHalliburton	0.21%	$62.7m	1.16M	+0.8% Added
INTUIntuit	0.21%	$62.3m	543.8K	−7.3% Reduced
AMTAmerican Tower	0.20%	$62.1m	587.9K	+3.4% Added
DDominion Energy	0.20%	$62.0m	810.0K	+2.9% Added
TRVThe Travelers Companies	0.20%	$62.0m	506.2K	−9.2% Reduced
NOCNorthrop Grumman	0.20%	$61.6m	265.0K	+16.1% Added
PSXPhillips 66	0.20%	$60.5m	700.6K	−1.8% Reduced
BLKBlackRock	0.20%	$60.0m	157.7K	+0.7% Added
GDGeneral Dynamics	0.20%	$59.7m	345.7K	−14.1% Reduced
FFord Motor Company	0.20%	$59.1m	4.87M	+3.1% Added
CRMSalesforce	0.19%	$57.9m	846.5K	−4.3% Reduced
AMATApplied Materials	0.19%	$57.1m	1.77M	+19.9% Added
PYPLPayPal	0.19%	$56.8m	1.44M	+1.8% Added
KMBKimberly-Clark	0.19%	$56.2m	492.6K	−13.4% Reduced
VLOValero Energy	0.18%	$55.0m	805.2K	+5.5% Added
NEMNewmont	0.18%	$54.8m	1.61M	+2.8% Added
CAHCardinal Health	0.18%	$54.7m	760.6K	+5.1% Added
BKRBaker Hughes	0.18%	$54.7m	841.4K	+16.1% Added
ADMArcher Daniels Midland	0.18%	$54.4m	1.19M	+18.4% Added
ELVElevance Health	0.18%	$54.4m	378.3K	−0.2%
BIDUBaidu, Inc.	0.18%	$54.1m	328.8K	−0.1%
KMIKinder Morgan	0.17%	$52.9m	2.55M	+2.3% Added
SYKStryker Corporation	0.17%	$52.5m	438.1K	+2.3% Added
GISGeneral Mills	0.17%	$51.6m	835.4K	−15.2% Reduced
HPEHewlett Packard Enterprise	0.17%	$50.4m	2.18M	−3.7% Reduced
JCIJohnson Controls	0.17%	$50.3m	1.22M	+0.7% Added
MCKMcKesson	0.16%	$49.7m	353.6K	−15.4% Reduced
EXCExelon	0.16%	$47.9m	1.35M	+4.4% Added
EMREmerson Electric	0.16%	$47.7m	855.6K	+0.8% Added
KRKroger	0.16%	$47.2m	1.37M	−4.7% Reduced
TEVATeva Pharmaceutical Industries LTD	0.15%	$47.0m	1.30M	New
CICigna	0.15%	$46.9m	351.3K	+5.9% Added
BDXBecton Dickinson	0.15%	$46.8m	283.0K	+4.5% Added
PSAPublic Storage	0.15%	$46.7m	208.9K	−7.5% Reduced
LYBLyondellBasell	0.15%	$46.4m	540.7K	−5.5% Reduced
EBAYeBay Inc.	0.15%	$46.2m	1.56M	+1.5% Added
WMWaste Management	0.15%	$45.7m	645.0K	+6.9% Added
MRSHMarsh McLennan	0.15%	$45.4m	671.8K	−0.7% Reduced
CTSHCognizant	0.15%	$45.0m	803.4K	+2.1% Added
CSXCSX Corporation	0.15%	$44.6m	1.24M	+0.8% Added
AEPAmerican Electric Power	0.15%	$44.5m	707.6K	+7.2% Added
ICEIntercontinental Exchange	0.14%	$44.0m	780.3K	+301.2% Added
HUMHumana	0.14%	$43.5m	213.3K	+5.2% Added
MARMarriott International	0.14%	$43.2m	522.7K	−16.2% Reduced
APDAir Products	0.14%	$42.7m	296.8K	−1.2% Reduced
MPCMarathon Petroleum	0.14%	$42.7m	847.3K	+3.2% Added
AFLAflac	0.14%	$42.6m	611.9K	−9.4% Reduced
BAXBaxter International	0.14%	$42.2m	952.2K	+12.7% Added
ALLAllstate	0.14%	$42.0m	566.0K	+0.6% Added
ECLEcolab	0.14%	$41.3m	352.7K	−10.6% Reduced
NSCNorfolk Southern	0.14%	$41.3m	382.2K	−0.5%
STTState Street Corporation	0.14%	$41.1m	528.4K	+2.1% Added
PCGPG&E Corporation	0.14%	$41.0m	675.5K	+6.6% Added
ETNEaton Corporation	0.14%	$40.8m	607.5K	−0.8% Reduced
ROSTRoss Stores	0.14%	$40.8m	621.3K	+19.0% Added
SPGIS&P Global	0.13%	$40.7m	378.4K	−3.7% Reduced
SYFSynchrony Financial	0.13%	$40.3m	1.11M	+2.6% Added
SYYSysco	0.13%	$40.0m	722.0K	+0.1%

Company	Bought (value)	Shares
TEVATeva Pharmaceutical Industries LTD	$47.0m	1.30M
ICEIntercontinental Exchange	$33.1m	585.8K
HDThe Home Depot	$18.3m	136.3K
MNSTMonster Beverage	$16.2m	366.0K
CVSCVS Health	$15.7m	198.7K
IBMIBM	$14.2m	85.6K
BACBank of America	$13.4m	607.0K
YUMCYum China Holdings, Inc.	$13.0m	499.0K
FANGDiamondback Energy	$12.8m	126.6K
TRGPTarga Resources	$12.3m	218.6K
EOGEOG Resources	$12.0m	119.0K
LMTLockheed Martin	$11.9m	47.8K
CMCSAComcast	$11.9m	172.5K
INTCIntel	$11.9m	327.0K
UNHUnitedHealth Group	$11.8m	73.5K

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

Company	Sold (value)	Shares
AAAlcoa Corp	−$18.6m	−1.84M
MAMastercard	−$18.4m	−178.6K
PGProcter & Gamble	−$15.6m	−185.7K
JNJJohnson & Johnson	−$15.1m	−131.2K
MMM3M	−$14.5m	−81.0K
MCDMcDonald's	−$14.3m	−117.8K
AAPLApple Inc.	−$13.0m	−112.0K
SBUXStarbucks	−$12.3m	−221.5K
NKENike, Inc.	−$12.3m	−241.1K
MOAltria	−$10.9m	−161.7K
CLXClorox	−$10.4m	−86.7K
GDGeneral Dynamics	−$9.8m	−56.8K
GISGeneral Mills	−$9.2m	−149.2K
MCKMcKesson	−$9.0m	−64.3K
SHWSherwin-Williams	−$9.0m	−33.4K

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

Company	Value last quarter	Shares
AAAlcoa Corp	$18.6m	1.84M
ALNYAlnylam Pharmaceuticals, Inc.	$6.2m	91.0K
NRGNRG Energy	$4.4m	394.5K
NVRNVR, Inc.	$622,000	379
THCTenet Healthcare Corp	$441,000	19.5K
ERICEricsson LM Telephone Co	$314,000	43.5K
UMBFUMB Financial Corp	$290,000	4.9K
LAMRLamar Advertising Co	$206,000	3.2K
LIVNLivanova PLC	$154,000	2.6K
GMEGamestop Corp.	$133,000	4.8K
SUSuncor Energy Inc	$108,000	3.9K
SCLStepan Co	$107,000	1.5K
WSTWest Pharmaceutical Services	$93,000	1.2K
WWDWoodward, Inc.	$90,000	1.4K
ALGTAllegiant Travel Co	$87,000	656
BDCBelden Inc.	$82,000	1.2K
VEEVVeeva Systems Inc	$71,000	1.7K
CBSHCommerce Bancshares Inc	$68,000	1.4K
USPHU S Physical Therapy Inc	$60,000	955
AVAAvista Corp	$60,000	1.4K
FDSFactset Research Systems Inc	$53,000	330
YRDYiren Digital Ltd.	$53,000	2.2K
XYZBlock, Inc.	$47,000	4.0K
IIINInsteel Industries Inc	$41,000	1.1K
SAHSonic Automotive Inc	$39,000	2.1K
TILEInterface Inc	$32,000	1.9K
MZTIMarzetti Co	$32,000	244
GBXGreenbrier Companies Inc	$31,000	889
CENTCentral Garden & PET Co	$28,000	1.1K
SITESiteone Landscape Supply, Inc.	$28,000	786

Financials17.1%
Technology16.3%
Health Care14.6%
Consumer Discretionary10.4%
Consumer Staples9.8%
Communication Services8.9%
Industrials8.6%
Energy5.2%
Utilities3.6%
Real Estate3.2%
Materials2.3%

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 backtestFebruary 15, 2008 to May 26, 2017	+10.1%	+8.7%	0.59	0.53	−51.2%	1.00
2010 to 2017January 8, 2010 to May 26, 2017	+13.7%	+12.9%	0.97	0.92	−15.1%	1.00
Last three yearsMay 30, 2014 to May 26, 2017	+11.4%	+10.1%	0.93	0.84	−11.6%	1.02
Last yearMay 27, 2016 to May 26, 2017	+18.8%	+17.4%	1.92	1.84	−4.1%	1.02

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.