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
MOLSON COORS BREWING CO60871R209 · TAP	CL B	$24.3m	249,898
MONDELEZ INTL INC609207105 · MDLZ	CL A	$92.2m	2,080,262
MONMOUTH REAL ESTATE INVT CO609720107	CL A	$49,000	3,199
MONOGRAM RESIDENTIAL TR INC60979P105	COM	$76,000	7,008
MONOLITHIC PWR SYS INC609839105 · MPWR	COM	$188,000	2,295
MONSANTO CO NEW61166W101	COM	$60.8m	578,143
MONSTER BEVERAGE CORP NEW61174X109 · MNST	COM	$24.3m	547,157
MOODYS CORP615369105 · MCO	COM	$22.9m	243,425
MORGAN STANLEY617446448 · MS	COM NEW	$86.6m	2,049,871
MOSAIC CO NEW61945C103 · MOS	COM	$13.0m	444,306
MOTOROLA SOLUTIONS INC620076307 · MSI	COM NEW	$16.2m	195,674
MRC GLOBAL INC55345K103	COM	$29,000	1,435
MSCI INC55354G100 · MSCI	COM	$10.8m	136,488
MUELLER WTR PRODS INC624758108 · MWA	COM SER A	$126,000	9,460
MURPHY OIL CORP626717102 · MUR	COM	$7.1m	227,228
MYLAN N VN59465109	SHS EURO	$22.7m	595,917
MYRIAD GENETICS INC62855J104 · MYGN	COM	$6,000	378
NABORS INDUSTRIES LTDG6359F103	SHS	$333,000	20,293
NACCO INDS INC629579103 · NC	CL A	$17,000	184
NANOSTRING TECHNOLOGIES INC63009R109	COM	$21,000	952
NASDAQ INC631103108 · NDAQ	COM	$12.6m	188,330
NATERA INC632307104 · NTRA	COM	$18,000	1,568
NATIONAL BEVERAGE CORP635017106 · FIZZ	COM	$45,000	878
NATIONAL HEALTH INVS INC63633D104 · NHI	COM	$125,000	1,680
NATIONAL OILWELL VARCO INC637071101	COM	$19.3m	514,928
NATIONAL RETAIL PPTYS INC637417106 · NNN	COM	$8.9m	200,570
NATIONAL STORAGE AFFILIATES637870106	COM SHS BEN IN	$119,000	5,394
NATIONSTAR MTG HLDGS INC63861C109	COM	$12,000	662
NATURAL HEALTH TRENDS CORP63888P406 · NHTC	COM PAR $.001	$3,000	116
NAVIENT CORP63938C108 · NAVI	COM	$7.0m	426,580
NCI BUILDING SYS INC628852204	COM NEW	$3,000	182
NCR CORP NEW62886E108 · VYX	COM	$126,000	3,107
NEKTAR THERAPEUTICS640268108 · NKTR	COM	$16,000	1,275
NEOGEN CORP640491106 · NEOG	COM	$28,000	426
NETAPP INC64110D104 · NTAP	COM	$19.9m	564,718
NETEASE INC64110W102 · NTES	SPONSORED ADR	$23.4m	108,754
NETFLIX INC64110L106 · NFLX	COM	$69.4m	560,572
NETGEAR INC64111Q104 · NTGR	COM	$60,000	1,099
NEW MEDIA INVT GROUP INC64704V106	COM	$18,000	1,121
NEW ORIENTAL ED & TECH GRP I647581107	SPON ADR	$7.1m	168,929
NEW SR INVT GROUP INC648691103	COM	$33,000	3,335
NEW YORK & CO INC649295102	COM	$2,000	818
NEW YORK CMNTY BANCORP INC649445103	COM	$11.8m	738,566
NEW YORK REIT INC64976L109	COM	$70,000	6,939
NEWELL BRANDS INC651229106 · NWL	COM	$27.9m	623,933
NEWFIELD EXPL CO651290108	COM	$11.8m	292,586
NEWLINK GENETICS CORP651511107	COM	$19,000	1,818
NEWMONT MINING CORP651639106 · NEM	COM	$54.8m	1,608,846
NEWS CORP NEW65249B109 · NWSA	CL A	$5.6m	485,144
NEWSTAR FINANCIAL INC65251F105	COM	$10,000	1,031
NEXPOINT RESIDENTIAL TR INC65341D102 · NXRT	COM	$19,000	866
NEXTERA ENERGY INC65339F101 · NEE	COM	$73.4m	614,267
NIC INC62914B100	COM	$14,000	593
NIELSEN HLDGS PLCG6518L108	SHS EUR	$23.5m	560,662
NIKE INC654106103 · NKE	CL B	$90.2m	1,774,642
NIMBLE STORAGE INC65440R101	COM	$2,000	293
NISOURCE INC65473P105 · NI	COM	$9.7m	435,942
NIVALIS THERAPEUTICS INC65481J109	COM	$3,000	1,537
NOBLE ENERGY INC655044105	COM	$23.1m	608,135
NOKIA CORP654902204	SPONSORED ADR	$541,000	112,394
NORDIC AMERICAN TANKERS LIMIG65773106 · NAT	COM	$45,000	5,355
NORDSTROM INC655664100	COM	$7.8m	161,842
NORFOLK SOUTHERN CORP655844108 · NSC	COM	$41.3m	382,151
NORTHERN OIL & GAS INC NEV665531109	COM	$8,000	3,006
NORTHERN TR CORP665859104 · NTRS	COM	$25.4m	285,344
NORTHROP GRUMMAN CORP666807102 · NOC	COM	$61.6m	264,989
NORTHSTAR REALTY EUROPE CORP66706L101	COM	$31,000	2,476
NORTHSTAR RLTY FIN CORP66704R803	COM	$116,000	7,680
NORWEGIAN CRUISE LINE HLDGSG66721104 · NCLH	SHS	$8.7m	205,424
NOVAVAX INC670002104 · NVAX	COM	$4,000	3,124
NRG YIELD INC62942X306	CL A NEW	$4,000	268
NUANCE COMMUNICATIONS INC67020Y100	COM	$5.1m	339,320
NUCOR CORP670346105 · NUE	COM	$31.4m	527,349
NVIDIA CORP67066G104 · NVDA	COM	$78.6m	736,557
NXP SEMICONDUCTORS N VN6596X109 · NXPI	COM	$38.3m	391,230
NXSTAGE MEDICAL INC67072V103	COM	$73,000	2,786
O REILLY AUTOMOTIVE INC NEW67103H107 · ORLY	COM	$35.1m	125,980
OASIS PETE INC NEW674215108	COM	$32,000	2,083
OCCIDENTAL PETE CORP DEL674599105 · OXY	COM	$75.2m	1,055,987
OCEAN RIG UDW INCG66964100	SHS	$0	9
OGE ENERGY CORP670837103 · OGE	COM	$11.0m	328,460
OMEGA HEALTHCARE INVS INC681936100 · OHI	COM	$255,000	8,162
OMNICOM GROUP INC681919106 · OMC	COM	$28.9m	340,051
ONCOMED PHARMACEUTICALS INC68234X102	COM	$19,000	2,421
ONE LIBERTY PPTYS INC682406103 · OLP	COM	$17,000	678
ONEOK INC NEW682680103 · OKE	COM	$16.0m	278,625
OOMA INC683416101 · OOMA	COM	$25,000	2,785
OPHTHOTECH CORP683745103	COM	$18,000	3,634
ORACLE CORP68389X105 · ORCL	COM	$157.3m	4,090,967
ORMAT TECHNOLOGIES INC686688102 · ORA	COM	$82,000	1,527
OSHKOSH CORP688239201 · OSK	COM	$74,000	1,153
OVERSTOCK COM INC DEL690370101 · NXH	COM	$26,000	1,510
OWENS & MINOR INC NEW690732102 · ACH	COM	$14,000	393
OWENS CORNING NEW690742101 · OC	COM	$1.7m	32,127
OXFORD INDS INC691497309 · OXM	COM	$21,000	345
PACCAR INC693718108 · PCAR	COM	$37.6m	587,688
PACIFIC ETHANOL INC69423U305	COM PAR $.001	$13,000	1,355
PACKAGING CORP AMER695156109 · PKG	COM	$9.7m	114,167
PALO ALTO NETWORKS INC697435105 · PANW	COM	$15.1m	120,349
PAPA JOHNS INTL INC698813102 · PZZA	COM	$1.7m	19,805

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.