Institution

First Mercantile Trust Co

13F for September 30, 2021, filed November 24, 2021 · SEC CIK 1259664 · Holdings history from June 30, 2008

The latest available holdings for this manager are dated September 30, 2021.

Reported value: $755.2m
Positions we cover: 652
Copy, a year: +7.9%
Copy Sharpe ratio: 0.57

Copy-performance statistics: February 8, 2008 to March 11, 2022. 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 Massachusetts Mutual Life Insurance Co · SEC notice for June 30, 2015

Holdings date Find a security

837 reported entries for September 30, 2021.

Issuer	Class / type	Reported value	Quantity
Magnolia Oil & Gas Corp559663109 · MGY	COM	$107,000	6,030
Manhattan Associates Inc562750109 · MANH	COM	$150,000	980
Manpowergroup56418H100 · MAN	COM	$32,000	296
Marathon Oil Corp565849106	COM	$32,000	2,319
Marathon Petroleum Corp56585A102 · MPC	COM	$889,000	14,380
Markel Corp570535104 · MKL	COM	$59,000	49
Marsh & McLennan Co Inc571748102 · MRSH	COM	$2.9m	19,133
Marvell Technology Group Ltd573874104 · MRVL	COM	$574,000	9,520
Masco Corp574599106 · MAS	COM	$60,000	1,079
Masonite International Corp575385109	COM	$174,000	1,642
Mastec Inc576323109 · MTZ	COM	$461,000	5,345
Mastercard Inc57636Q104 · MA	CL A	$1.7m	4,877
Match Group Inc57667L107 · MTCH	COM	$1.4m	9,105
Mattel Incorporated577081102 · MAT	COM	$972,000	52,366
Maxlinear Inc57776J100 · MXL	COM	$327,000	6,647
McDonald's Corporation580135101 · MCD	COM	$2.7m	11,108
McKesson Corporation58155Q103 · MCK	COM	$619,000	3,104
MDU Resources Group Inc552690109 · MDU	COM	$822,000	27,710
Medallia Inc584021109	COM	$102,000	3,015
Mednax Inc58502B106 · MD	COM	$308,000	10,834
Medtronic PLCG5960L103 · MDT	SHS	$3.3m	26,578
Mercadolibre Inc58733R102 · MELI	COM	$3.4m	2,035
Merck & Co Inc58933Y105 · MRK	COM	$773,000	10,287
Merit Medical Sys Inc589889104 · MMSI	COM	$98,000	1,366
Meritor Inc59001K100	COM	$216,000	10,114
Mersana Therapeutics Inc59045L106	COM	$52,000	5,541
MetLife Inc59156R108 · MET	COM	$141,000	2,282
Mettler-Toledo International Inc592688105 · MTD	COM	$758,000	550
MGIC Investment Corp552848103 · MTG	COM	$157,000	10,505
Mgm Growth Ppptys Llc Com Shs A55303A105	CL A COM	$193,000	5,031
Microchip Technology Inc595017104 · MCHP	COM	$348,000	2,266
Micron Technology Inc595112103 · MU	COM	$206,000	2,905
Microsoft Corp594918104 · MSFT	COM	$7.7m	27,255
Middleby Corp596278101 · MIDD	COM	$131,000	770
Millerknoll Inc600544100 · MLKN	COM	$185,000	4,920
Mimecast Limited Com Usd0.012G14838109	COM	$262,000	4,116
Mirati Therapeutics Inc60468T105	COM	$78,000	443
Mister Car Wash Inc60646V105	COM	$103,000	5,663
Model N Inc607525102	COM	$92,000	2,740
Moderna Inc60770K107 · MRNA	COM	$241,000	626
Modine Manufacturing Co607828100 · MOD	COM	$155,000	13,641
Modivcare Inc Com60783X104	COM	$123,000	676
Moelis & Co60786M105 · MC	COM	$150,000	2,419
Mohawk Industries Inc608190104 · MHK	COM	$64,000	358
Molina Healthcare Inc60855R100 · MOH	COM	$343,000	1,261
Molson Coors Beverage Company Class B60871R209 · TAP	CL B	$327,000	7,049
Momentive Global Inc60878Y108	COM	$66,000	3,347
Mongodb Inc Cl A60937P106 · MDB	COM	$301,000	638
Monolithic Power Systems609839105 · MPWR	COM	$239,000	494
Monro Inc610236101 · MNRO	COM	$109,000	1,897
Moody's Corp615369105 · MCO	COM	$142,000	400
Mosaic Co61945C103 · MOS	COM	$52,000	1,453
MRC Global55345K103	COM	$317,000	43,139
MSC Industrial Direct Co Inc553530106 · MSM	CL A	$57,000	710
MSCI Inc55354G100 · MSCI	COM	$363,000	596
Mueller Industries Inc624756102 · MLI	COM	$107,000	2,593
Nanostring Technologies Inc63009R109	COM	$95,000	1,980
Natera Inc Com632307104 · NTRA	COM	$150,000	1,345
National Grid Transco PLC636274409	SPONSORED ADR NE	$206,000	3,459
Navigator HoldingsY62132108 · NVGS	SHS	$160,000	17,928
NCR Corp62886E108 · VYX	COM	$291,000	7,517
Neehnah Inc640079109	COM	$153,000	3,280
Neogenomics Inc64049M209 · NEO	COM	$148,000	3,070
Netflix Inc64110L106 · NFLX	COM	$2.3m	3,831
Netstreit Corp Com64119V303 · NTST	COM	$120,000	5,084
Nevro Corp64157F103	COM	$106,000	913
New Jersey Resources Corp646025106 · NJR	COM	$89,000	2,563
New York Community Bancorp Inc649445103	COM	$23,000	1,761
Newell Brands Inc651229106 · NWL	COM	$36,000	1,624
Nexstar Media Group Inc65336K103 · NXST	CL A	$151,000	992
NextEra Energy Inc65339F101 · NEE	COM	$234,000	2,985
NextEra Energy Partners LP65341B106 · XIFR	COM	$300,000	3,986
Nike Inc Class B654106103 · NKE	CL B	$3.3m	22,957
Nisource Inc65473P105 · NI	COM	$501,000	20,696
NMI Hldgs Inc629209305 · NMIH	COM	$233,000	10,317
Nomad Foods LimitedG6564A105 · NOMD	USD ORD SHS	$227,000	8,246
Nordson Corp655663102 · NDSN	COM	$126,000	530
Northern Trust Corp665859104 · NTRS	COM	$558,000	5,174
Northrop Grumman Corp666807102 · NOC	COM	$3.0m	8,337
Northwest Bancshares Inc667340103 · NWBI	COM	$85,000	6,382
Novocure LimitedG6674U108 · NVCR	COM	$68,000	584
NRG Energy Inc629377508 · NRG	COM	$270,000	6,598
Nucor Corp670346105 · NUE	COM	$235,000	2,386
Nutanix Inc Cl A67059N108 · NTNX	COM	$279,000	7,410
NVIDIA Corp67066G104 · NVDA	COM	$2.6m	12,710
O Reilly Automotive Inc67103H107 · ORLY	COM	$388,000	634
Okta Inc Com Cl A679295105 · OKTA	CL A	$1.9m	8,000
Old Republic International Corp680223104 · ORI	COM	$24,000	1,022
Ollies Bargain Outlet Holdings Inc681116109 · OLLI	COM	$150,000	2,484
Omnicell Inc68213N109 · OMCL	COM	$272,000	1,832
Omnicom Group Inc681919106 · OMC	COM	$212,000	2,920
ON Semiconductor Corp682189105 · ON	COM	$223,000	4,870
OneMain Holdings Inc68268W103 · OMF	COM	$283,000	5,122
Oneok Inc682680103 · OKE	COM	$467,000	8,061
Open Text Corp683715106 · OTEX	COM	$113,000	2,325
Oracle Corporation68389X105 · ORCL	COM	$1.5m	17,173
Orion Engineered Carbons SAL72967109 · OEC	COM	$247,000	13,564
Oshkosh Corp688239201 · OSK	COM	$281,000	2,741
Owens & Minor Inc690732102 · ACH	COM	$247,000	7,921
Owens Corning690742101 · OC	COM	$34,000	396

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 First Mercantile Trust Co's usable filed holdings in companies we cover from February 8, 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 −35.4% (S&P 500 −50.8%); beta 0.48; alpha +2.5% a year (t = 0.89); last 12 months +0.8% against +11.0%.

Reported value by quarter

First Mercantile Trust Co: 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	$1.2B
2013-09-30	$1.2B
2013-12-31	$1.3B
2014-03-31	$1.4B
2014-06-30	$1.3B
2014-09-30	$1.2B
2014-12-31	$1.2B
2015-03-31	$1.2B
2015-06-30	$1.2B
2015-09-30	$994.2M
2015-12-31	$975.3M
2016-03-31	$821.7M
2016-06-30	$802.9M
2016-09-30	$750.4M
2016-12-31	$646.6M
2017-03-31	$658.4M
2017-06-30	$553.7M
2017-09-30	$552.8M
2017-12-31	$510.8M
2018-03-31	$477.6M
2018-06-30	$500.6M
2018-09-30	$508.4M
2018-12-31	$413.1M
2019-03-31	$426.2M
2019-06-30	$949.1M
2019-09-30	$939.1M
2019-12-31	$859.1M
2020-03-31	$683.3M
2020-06-30	$796.7M
2020-09-30	$829.6M
2020-12-31	$882.2M
2021-03-31	$873.4M
2021-06-30	$846.9M
2021-09-30	$755.2M

Latest covered holdings and moves

Covered holdings as of September 30, 2021.

Company	Share of portfolio	Value	Shares	Change in shares
MSFTMicrosoft Corporation	1.02%	$7.7m	27.3K	−5.1% Reduced
AMZNAmazon	0.72%	$5.4m	1.7K	−2.8% Reduced
TSLATesla, Inc.	0.63%	$4.8m	6.2K	+4.0% Added
JNJJohnson & Johnson	0.55%	$4.2m	25.9K	+1.4% Added
VVisa Inc.	0.47%	$3.5m	15.9K	+0.6% Added
UNHUnitedHealth Group	0.46%	$3.5m	8.8K	−27.6% Reduced
CBChubb Limited	0.46%	$3.4m	19.8K	+5.1% Added
MELIMercadolibre Inc	0.45%	$3.4m	2.0K	−7.9% Reduced
SHOPShopify Inc.	0.45%	$3.4m	2.5K	−12.7% Reduced
NKENike, Inc.	0.44%	$3.3m	23.0K	−10.0% Reduced
MDTMedtronic	0.44%	$3.3m	26.6K	−4.4% Reduced
UBERUber	0.42%	$3.2m	70.9K	+1.2% Added
AAPLApple Inc.	0.42%	$3.2m	22.3K	−3.8% Reduced
TJXTJX Companies	0.41%	$3.1m	47.2K	+1.1% Added
AXPAmerican Express	0.41%	$3.1m	18.3K	−3.5% Reduced
NOCNorthrop Grumman	0.40%	$3.0m	8.3K	+4.8% Added
CLColgate-Palmolive	0.39%	$2.9m	38.7K	+2.7% Added
MRSHMarsh McLennan	0.38%	$2.9m	19.1K	−10.4% Reduced
PGProcter & Gamble	0.38%	$2.9m	20.7K	+12.1% Added
SNOWSnowflake Inc.	0.37%	$2.8m	9.3K	−1.5% Reduced
MCDMcDonald's	0.35%	$2.7m	11.1K	−1.7% Reduced
PEPPepsiCo	0.35%	$2.7m	17.7K	−2.8% Reduced
NVDANVIDIA Corporation	0.35%	$2.6m	12.7K	+225.9% Added
TTDTrade Desk, Inc.	0.33%	$2.5m	35.4K	−5.2% Reduced
ACNAccenture	0.32%	$2.4m	7.4K	−6.9% Reduced
NFLXNetflix	0.31%	$2.3m	3.8K	−11.1% Reduced
PYPLPayPal	0.31%	$2.3m	8.9K	−37.6% Reduced
TWLOTwilio Inc	0.31%	$2.3m	7.2K	−5.7% Reduced
NOWServiceNow	0.30%	$2.3m	3.7K	−25.8% Reduced
UNPUnion Pacific Corporation	0.30%	$2.3m	11.6K	+0.1%
XYZBlock, Inc.	0.29%	$2.2m	9.1K	−17.2% Reduced
VEEVVeeva Systems Inc	0.28%	$2.1m	7.3K	+0.9% Added
KOThe Coca-Cola Company	0.27%	$2.0m	38.6K	−4.9% Reduced
SNAPSnap Inc	0.26%	$2.0m	26.6K	+12.2% Added
ABNBAirbnb	0.26%	$1.9m	11.6K	+2.7% Added
LMTLockheed Martin	0.26%	$1.9m	5.6K	+13.7% Added
OKTAOkta, Inc.	0.25%	$1.9m	8.0K	−8.3% Reduced
ZMZoom Communications, Inc.	0.25%	$1.9m	7.1K	+16.0% Added
PAYCPaycom Software, Inc.	0.23%	$1.8m	3.6K	−13.7% Reduced
JPMJPMorgan Chase	0.23%	$1.7m	10.5K	−8.8% Reduced
MAMastercard	0.23%	$1.7m	4.9K	+9.8% Added
SPTSprout Social, Inc.	0.22%	$1.7m	13.6K	+7.8% Added
CHTRCharter Communications	0.22%	$1.6m	2.3K	−6.6% Reduced
CZRCaesars Entertainment, Inc.	0.22%	$1.6m	14.6K	−5.7% Reduced
ECLEcolab	0.21%	$1.6m	7.8K	−4.0% Reduced
DDOGDatadog, Inc.	0.21%	$1.6m	11.4K	+5.2% Added
BAXBaxter International	0.21%	$1.6m	19.4K	−4.9% Reduced
KKRKKR & Co.	0.20%	$1.5m	25.0K	−15.2% Reduced
UPSUnited Parcel Service	0.20%	$1.5m	8.3K	−4.7% Reduced
ORCLOracle Corporation	0.20%	$1.5m	17.2K	−8.2% Reduced
ALGNAlign Technology	0.19%	$1.4m	2.2K	−7.2% Reduced
MTCHMatch Group, Inc.	0.19%	$1.4m	9.1K	−1.9% Reduced
AMTAmerican Tower	0.18%	$1.4m	5.1K	−23.2% Reduced
CMCSAComcast	0.17%	$1.3m	23.3K	+0.6% Added
LOWLowe's	0.17%	$1.3m	6.3K	−18.1% Reduced
ZZillow Group, Inc.	0.17%	$1.3m	14.6K	−9.1% Reduced
AONAon plc	0.17%	$1.3m	4.4K	−17.9% Reduced
WMWaste Management	0.16%	$1.2m	8.2K	−8.0% Reduced
TDOCTeladoc Health, Inc.	0.16%	$1.2m	9.6K	+1.1% Added
ISRGIntuitive Surgical	0.15%	$1.1m	1.1K	−22.1% Reduced
GOOGLAlphabet Inc. (Class A)	0.14%	$1.1m	398	−5.2% Reduced
ADBEAdobe Inc.	0.14%	$1.1m	1.8K	−15.1% Reduced
KMIKinder Morgan	0.14%	$1.0m	62.1K	+15.3% Added
MATMattel Inc	0.13%	$972,000	52.4K	−7.6% Reduced
EPAMEPAM Systems, Inc.	0.13%	$964,000	1.7K	+16.2% Added
CNPCenterPoint Energy	0.13%	$957,000	38.9K	−26.5% Reduced
BLDRBuilders Firstsource, Inc.	0.13%	$954,000	18.4K	−10.1% Reduced
ASMLAsml Holding NV	0.12%	$935,000	1.3K	−12.8% Reduced
SESea Ltd	0.12%	$932,000	2.9K	+67.1% Added
UUnity Software Inc.	0.12%	$931,000	7.4K	−8.7% Reduced
DEDeere & Company	0.12%	$925,000	2.8K	+71.8% Added
CVSCVS Health	0.12%	$924,000	10.9K	−4.9% Reduced
WFCWells Fargo	0.12%	$914,000	19.7K	−41.8% Reduced
LULULululemon Athletica	0.12%	$910,000	2.2K	−11.6% Reduced
USBU.S. Bancorp	0.12%	$905,000	15.2K	−5.3% Reduced
MPCMarathon Petroleum	0.12%	$889,000	14.4K	+7.5% Added
CHWYChewy, Inc.	0.11%	$858,000	12.6K	+1.3% Added
FDXFedEx	0.11%	$855,000	3.9K	+33.7% Added
SYKStryker Corporation	0.11%	$843,000	3.2K	New
CICigna	0.11%	$837,000	4.2K	+3.6% Added
PMPhilip Morris International	0.11%	$836,000	8.8K	−5.9% Reduced
PTONPeloton Interactive, Inc.	0.11%	$827,000	9.5K	−7.1% Reduced
DHRDanaher Corporation	0.11%	$825,000	2.7K	−4.9% Reduced
MDUMDU Resources Group Inc	0.11%	$822,000	27.7K	+7.6% Added
TSMTaiwan Semiconductor Manufacturing Co LTD	0.11%	$808,000	7.2K	−12.8% Reduced
AAgilent Technologies	0.11%	$802,000	5.1K	−5.9% Reduced
BACBank of America	0.11%	$801,000	18.9K	−11.5% Reduced
RMDResMed\|	0.11%	$801,000	3.0K	−12.3% Reduced
SRESempra	0.10%	$783,000	6.2K	+12.5% Added
GDGeneral Dynamics	0.10%	$782,000	4.0K	−3.1% Reduced
PODDInsulet Corporation	0.10%	$780,000	2.7K	−2.3% Reduced
MRKMerck & Co.	0.10%	$773,000	10.3K	−1.6% Reduced
HDThe Home Depot	0.10%	$762,000	2.3K	−6.6% Reduced
TRGPTarga Resources	0.10%	$761,000	15.5K	−2.4% Reduced
GLBEGlobal-e Online Ltd.	0.10%	$761,000	10.6K	+65.6% Added
MTDMettler Toledo	0.10%	$758,000	550	−11.3% Reduced
LPLALPL Financial Holdings Inc.	0.10%	$754,000	4.8K	−7.5% Reduced
TXG10x Genomics, Inc.	0.10%	$737,000	5.1K	−6.6% Reduced
JBLJabil	0.10%	$722,000	12.4K	−13.8% Reduced
PSXPhillips 66	0.10%	$719,000	10.3K	−3.7% Reduced
UGIUGI Corp	0.10%	$718,000	16.8K	−2.3% Reduced
CHGGChegg, Inc	0.10%	$718,000	10.6K	−5.0% Reduced
KNXKnight-swift Transportation Holdings Inc.	0.10%	$716,000	14.0K	−8.8% Reduced
WIXWix.com Ltd.	0.09%	$705,000	3.6K	+8.3% Added
CRWDCrowdStrike	0.09%	$686,000	2.8K	+187.6% Added
PLNTPlanet Fitness, Inc.	0.09%	$683,000	8.7K	−0.9% Reduced
PWRQuanta Services	0.09%	$678,000	6.0K	−18.1% Reduced
ALCAlcon Inc	0.09%	$674,000	8.4K	−12.1% Reduced
DANDana Inc	0.09%	$669,000	30.1K	−4.0% Reduced
EXCExelon	0.09%	$665,000	13.7K	−5.4% Reduced
AAPAdvance Auto Parts Inc	0.09%	$663,000	3.2K	−6.4% Reduced
EGEverest Group	0.09%	$651,000	2.6K	+52.4% Added
WMBWilliams Companies	0.09%	$640,000	24.7K	+1.5% Added
PANWPalo Alto Networks	0.08%	$636,000	1.3K	+69.0% Added
WSMWilliams-Sonoma, Inc.	0.08%	$635,000	3.6K	0.0%
METAMeta Platforms	0.08%	$635,000	1.9K	−4.1% Reduced
ETREntergy	0.08%	$632,000	6.4K	−28.5% Reduced
MTSIMacom Technology Solutions Holdings, Inc.	0.08%	$630,000	9.7K	−6.4% Reduced
KBRKBR, Inc.	0.08%	$628,000	16.0K	−7.0% Reduced
TGTTarget Corporation	0.08%	$619,000	2.7K	−7.2% Reduced
MCKMcKesson	0.08%	$619,000	3.1K	−4.2% Reduced
RTXRTX Corporation	0.08%	$619,000	7.2K	−1.6% Reduced
FNDFloor & Decor Holdings, Inc.	0.08%	$616,000	5.1K	−28.6% Reduced
HDBHdfc Bank LTD	0.08%	$593,000	8.1K	0.0%
BILLBILL Holdings, Inc.	0.08%	$587,000	2.2K	New
LENLennar	0.08%	$583,000	6.2K	−12.6% Reduced
CCICrown Castle	0.08%	$581,000	3.4K	−3.8% Reduced
MRVLMarvell Technology	0.08%	$574,000	9.5K	−7.5% Reduced
INTCIntel	0.07%	$567,000	10.6K	+31.3% Added
NTRSNorthern Trust	0.07%	$558,000	5.2K	−3.5% Reduced
ICLRIcon PLC	0.07%	$558,000	2.1K	+56.0% Added
AVGOBroadcom	0.07%	$547,000	1.1K	−8.2% Reduced
IFFInternational Flavors & Fragrances	0.07%	$545,000	4.1K	−1.6% Reduced
DXCMDexcom	0.07%	$545,000	997	+18.1% Added
VLOValero Energy	0.07%	$533,000	7.6K	+23.4% Added
GDRXGoodrx Holdings, Inc.	0.07%	$533,000	13.0K	−7.3% Reduced
GGenpact LTD	0.07%	$524,000	11.0K	+10.8% Added
ACMAecom	0.07%	$524,000	8.3K	−2.8% Reduced
CCEPCoca-cola Europacific Partners plc	0.07%	$521,000	9.4K	−1.6% Reduced
CDPCopt Defense Properties	0.07%	$513,000	19.0K	−3.8% Reduced
FTSFortis Inc.	0.07%	$512,000	11.6K	−2.4% Reduced
AESAES Corporation	0.07%	$510,000	22.4K	−4.6% Reduced
GNRCGenerac	0.07%	$503,000	1.2K	−3.1% Reduced
NINiSource	0.07%	$501,000	20.7K	−2.4% Reduced
RACEFerrari N.V.	0.07%	$500,000	2.4K	−12.8% Reduced
ENBEnbridge Inc	0.07%	$498,000	12.5K	−2.4% Reduced
SNDRSchneider National, Inc.	0.06%	$487,000	21.4K	−2.4% Reduced
WTFCWintrust Financial Corp	0.06%	$477,000	5.9K	+17.3% Added
CSCOCisco	0.06%	$474,000	8.7K	−11.6% Reduced
OKEOneok	0.06%	$467,000	8.1K	New

Company	Bought (value)	Shares
NVDANVIDIA Corporation	$1.8m	8.8K
SYKStryker Corporation	$843,000	3.2K
BILLBILL Holdings, Inc.	$587,000	2.2K
OKEOneok	$467,000	8.1K
CRWDCrowdStrike	$447,498	1.8K
APDAir Products	$391,000	1.5K
DEDeere & Company	$386,562	1.2K
SESea Ltd	$374,393	1.2K
PGProcter & Gamble	$312,085	2.2K
ABBVAbbVie	$309,000	2.9K
GLBEGlobal-e Online Ltd.	$301,528	4.2K
LHXL3Harris	$279,000	1.3K
PANWPalo Alto Networks	$259,768	542
ZMZoom Communications, Inc.	$256,769	982
SRSpire Inc	$253,699	4.2K

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

Company	Sold (value)	Shares
EWEdwards Lifesciences	−$1.6m	−14.6K
PYPLPayPal	−$1.4m	−5.4K
UNHUnitedHealth Group	−$1.3m	−3.4K
PSAPublic Storage	−$1.1m	−3.7K
NOWServiceNow	−$797,473	−1.3K
WFCWells Fargo	−$657,062	−14.2K
SBUXStarbucks	−$591,865	−5.4K
GSHDGoosehead Insurance, Inc.	−$535,000	−4.2K
SHOPShopify Inc.	−$488,116	−360
XYZBlock, Inc.	−$453,706	−1.9K
MSFTMicrosoft Corporation	−$411,000	−1.5K
AMTAmerican Tower	−$410,953	−1.5K
NKENike, Inc.	−$370,075	−2.5K
CNPCenterPoint Energy	−$344,688	−14.0K
AIZAssurant	−$342,178	−2.2K

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

Company	Value last quarter	Shares
GSHDGoosehead Insurance, Inc.	$535,000	4.2K
FIVNFive9, Inc.	$322,000	1.8K
GENGen Digital Inc.	$272,000	10.0K
EMREmerson Electric	$248,000	2.6K
PATHUipath, Inc.	$238,000	3.5K
CBRECBRE Group	$221,000	2.6K
NTAPNetApp	$221,000	2.7K
CMBTCmb.tech NV	$217,000	23.3K
MLMMartin Marietta Materials	$161,000	459
BBYBest Buy	$152,000	1.3K
PCARPaccar	$147,000	1.6K
INCYIncyte	$137,000	1.6K
SHOOSteven Madden, LTD.	$137,000	3.1K
AHCOAdapthealth Corp.	$134,000	4.9K
DPZDomino's	$127,000	272
HRBH&R Block Inc	$120,000	5.1K
ITWIllinois Tool Works	$116,000	520
BWXTBWX Technologies, Inc.	$115,000	2.0K
DLTRDollar Tree	$109,000	1.1K
LDOSLeidos	$99,000	977
PNRPentair	$95,000	1.4K
RCKTRocket Pharmaceuticals, Inc.	$95,000	2.2K
LADLithia Motors Inc	$94,000	274
BAHBooz Allen Hamilton Holding Corp	$93,000	1.1K
GNTXGentex Corp	$76,000	2.3K
MRCYMercury Systems Inc	$76,000	1.1K
KURAKura Oncology, Inc.	$73,000	3.5K
PCTYPaylocity Holding Corp	$68,000	354
MRTNMarten Transport LTD	$59,000	3.6K
ONTOOnto Innovation Inc.	$55,000	756

Technology22.4%
Consumer Discretionary15.1%
Financials14.7%
Health Care14.1%
Industrials12.8%
Consumer Staples5.6%
Communication Services4.5%
Utilities3.2%
Materials2.8%
Energy2.6%
Real Estate2.2%

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 8, 2008 to March 11, 2022	+7.9%	+10.7%	0.57	0.61	−35.4%	0.48
2010 to 2017January 8, 2010 to December 29, 2017	+7.6%	+13.5%	0.83	0.98	−14.4%	0.38
2018 onwardsJanuary 5, 2018 to March 11, 2022	+11.6%	+12.7%	0.55	0.65	−35.4%	1.11
Last three yearsMarch 15, 2019 to March 11, 2022	+13.9%	+16.1%	0.63	0.79	−35.4%	1.13
Last yearMarch 12, 2021 to March 11, 2022	−3.0%	+8.1%	−0.14	0.68	−16.8%	1.12

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.