Lone Pine Capital Activity Q4 2004-Q2 2023

Q2 2023

			Value		Shares		↓ Weighting
MSFT	New	MICROSOFT CORP	$852,060,026	–	2,502,085	–	7.81%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$646,934,238	–	6,410,367	–	5.93%	–
AMZN	New	AMAZON COM INC	$638,183,116	–	4,895,544	–	5.85%	–
	New	BATH & BODY WORKS INC	$613,384,313	–	16,356,915	–	5.62%	–
RH	New	RH	$584,385,812	–	1,773,069	–	5.36%	–
WDAY	New	WORKDAY INCcl a	$582,710,136	–	2,579,619	–	5.34%	–
BKNG	New	BOOKING HOLDINGS INC	$568,554,482	–	210,550	–	5.21%	–
TDG	New	TRANSDIGM GROUP INC	$521,288,592	–	582,986	–	4.78%	–
MA	New	MASTERCARD INCORPORATEDcl a	$462,838,586	–	1,176,808	–	4.24%	–
PTC	New	PTC INC	$450,738,096	–	3,167,520	–	4.13%	–
LPLA	New	LPL FINL HLDGS INC	$435,524,901	–	2,003,058	–	3.99%	–
DKS	New	DICKS SPORTING GOODS INC	$431,778,542	–	3,266,348	–	3.96%	–
UNH	New	UNITEDHEALTH GROUP INC	$428,330,507	–	891,167	–	3.93%	–
FND	New	FLOOR & DECOR HLDGS INCcl a	$390,608,804	–	3,757,299	–	3.58%	–
KKR	New	KKR & CO INC	$367,605,392	–	6,564,382	–	3.37%	–
LYV	New	LIVE NATION ENTERTAINMENT IN	$362,003,901	–	3,973,262	–	3.32%	–
CRM	New	SALESFORCE INC	$358,084,855	–	1,694,996	–	3.28%	–
ASML	New	ASML HOLDING N V	$334,206,142	–	461,133	–	3.06%	–
V	New	VISA INC	$294,936,149	–	1,241,941	–	2.70%	–
HDB	New	HDFC BANK LTDsponsored ads	$284,374,258	–	4,079,975	–	2.61%	–
IBN	New	ICICI BANK LIMITEDadr	$277,935,430	–	12,042,263	–	2.55%	–
NVDA	New	NVIDIA CORPORATION	$271,430,360	–	641,649	–	2.49%	–
EPAM	New	EPAM SYS INC	$217,015,903	–	965,588	–	1.99%	–
BILL	New	BILL HOLDINGS INC	$213,080,415	–	1,823,538	–	1.95%	–
MRNA	New	MODERNA INC	$185,848,587	–	1,529,618	–	1.70%	–
	New	SWEETGREEN INC	$58,414,368	–	4,556,503	–	0.54%	–
	New	AVIDXCHANGE HOLDINGS INC	$52,736,960	–	5,080,632	–	0.48%	–
MQ	New	MARQETA INC	$23,873,675	–	4,902,192	–	0.22%	–
LNG	New	CHENIERE ENERGY INC	$1,270,378	–	8,338	–	0.01%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	GROVE COLLABORATIVE HOLD INC	$0	–	-152,608	–	-0.00%	–
SQ	Exit	BLOCK INCcl a	$0	–	-23,787	–	-0.01%	–
CHK	Exit	CHESAPEAKE ENERGY CORP	$0	–	-15,740	–	-0.01%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-10,448	–	-0.02%	–
VIXY	Exit	PROSHARES TR IIput	$0	–	-100,000	–	-0.02%	–
	Exit	AVIDXCHANGE HOLDINGS INC	$0	–	-5,080,632	–	-0.40%	–
FCNCA	Exit	FIRST CTZNS BANCSHARES INC Ncl a	$0	–	-64,553	–	-0.48%	–
	Exit	SWEETGREEN INC	$0	–	-4,556,503	–	-0.79%	–
MQ	Exit	MARQETA INC	$0	–	-16,609,826	–	-1.11%	–
HDB	Exit	HDFC BANK LTDsponsored ads	$0	–	-2,223,010	–	-1.22%	–
EQT	Exit	EQT CORP	$0	–	-5,935,782	–	-2.28%	–
IBN	Exit	ICICI BANK LIMITEDadr	$0	–	-11,692,652	–	-2.31%	–
PTC	Exit	PTC INC	$0	–	-2,519,988	–	-2.48%	–
V	Exit	VISA INC	$0	–	-2,161,028	–	-3.62%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-737,523	–	-3.65%	–
FB	Exit	META PLATFORMS INCcl a	$0	–	-2,913,821	–	-3.72%	–
ADSK	Exit	AUTODESK INC	$0	–	-2,221,479	–	-3.91%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-253,570	–	-3.93%	–
LPLA	Exit	LPL FINL HLDGS INC	$0	–	-1,980,362	–	-4.08%	–
RH	Exit	RH	$0	–	-1,773,069	–	-4.11%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-1,544,912	–	-4.14%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-885,326	–	-4.23%	–
EPAM	Exit	EPAM SYS INC	$0	–	-1,243,044	–	-4.24%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-939,456	–	-4.47%	–
DKS	Exit	DICKS SPORTING GOODS INC	$0	–	-5,015,154	–	-4.94%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-9,608,670	–	-6.21%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-2,832,272	–	-6.22%	–
	Exit	BATH & BODY WORKS INC	$0	–	-20,630,231	–	-6.34%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-8,294,340	–	-6.73%	–
AMZN	Exit	AMAZON COM INC	$0	–	-6,686,898	–	-7.12%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-5,019,190	–	-7.20%	–

Q3 2022

			Value		Shares		↓ Weighting
AMZN	Sell	AMAZON COM INC	$755,619,000	-20.8%	6,686,898	-25.5%	7.12%	-20.8%
PYPL	Buy	PAYPAL HLDGS INC	$713,894,000	+138.3%	8,294,340	+93.4%	6.73%	+138.3%
	Sell	BATH & BODY WORKS INC	$672,546,000	+12.4%	20,630,231	-7.2%	6.34%	+12.4%
MSFT	Sell	MICROSOFT CORP	$659,636,000	-26.2%	2,832,272	-18.7%	6.22%	-26.3%
TSM	Buy	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$658,770,000	-9.8%	9,608,670	+7.5%	6.21%	-9.8%
UNH	Buy	UNITEDHEALTH GROUP INC	$474,463,000	+15.4%	939,456	+17.4%	4.47%	+15.4%
EPAM	Sell	EPAM SYS INC	$450,218,000	+20.6%	1,243,044	-1.9%	4.24%	+20.5%
TMO	Sell	THERMO FISHER SCIENTIFIC INC	$449,028,000	-11.3%	885,326	-5.0%	4.23%	-11.4%
LPLA	Sell	LPL FINL HLDGS INC	$432,669,000	+2.5%	1,980,362	-13.5%	4.08%	+2.4%
BKNG	Buy	BOOKING HOLDINGS INC	$416,669,000	+0.5%	253,570	+6.9%	3.93%	+0.4%
ADSK	New	AUTODESK INC	$414,972,000	–	2,221,479	–	3.91%	–
FB	Sell	META PLATFORMS INCcl a	$395,347,000	-51.1%	2,913,821	-41.8%	3.72%	-51.1%
TDG	New	TRANSDIGM GROUP INC	$387,067,000	–	737,523	–	3.65%	–
PTC	New	PTC INC	$263,591,000	–	2,519,988	–	2.48%	–
IBN	New	ICICI BANK LIMITEDadr	$245,195,000	–	11,692,652	–	2.31%	–
EQT	Sell	EQT CORP	$241,883,000	+10.7%	5,935,782	-6.6%	2.28%	+10.6%
HDB	New	HDFC BANK LTDsponsored ads	$129,868,000	–	2,223,010	–	1.22%	–
FCNCA	Sell	FIRST CTZNS BANCSHARES INC Ncl a	$51,476,000	-14.1%	64,553	-29.6%	0.48%	-14.2%
LNG	New	CHENIERE ENERGY INC	$1,733,000	–	10,448	–	0.02%	–
CHK	New	CHESAPEAKE ENERGY CORP	$1,483,000	–	15,740	–	0.01%	–
	Sell	GROVE COLLABORATIVE HOLD INC	$342,000	-85.2%	152,608	-69.5%	0.00%	-86.4%
SHOP	Exit	SHOPIFY INCcl a	$0	–	-25,000	–	-0.01%	–
	Exit	VTEX	$0	–	-5,274,887	–	-0.15%	–
FICO	Exit	FAIR ISAAC CORP	$0	–	-42,616	–	-0.16%	–
TEAM	Exit	ATLASSIAN CORP PLCcl a	$0	–	-1,619,172	–	-2.86%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-171,991	–	-3.53%	–
NOW	Exit	SERVICENOW INC	$0	–	-1,292,399	–	-5.79%	–

Q2 2022

			Value		Shares		↓ Weighting
AMZN	New	AMAZON COM INC	$953,503,000	–	8,977,525	–	8.99%	–
MSFT	New	MICROSOFT CORP	$894,198,000	–	3,481,673	–	8.43%	–
FB	New	META PLATFORMS INCcl a	$807,803,000	–	5,009,631	–	7.61%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$730,433,000	–	8,934,961	–	6.88%	–
WDAY	New	WORKDAY INCcl a	$700,579,000	–	5,019,190	–	6.60%	–
NOW	New	SERVICENOW INC	$614,562,000	–	1,292,399	–	5.79%	–
	New	BATH & BODY WORKS INC	$598,209,000	–	22,221,713	–	5.64%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$506,496,000	–	932,292	–	4.77%	–
MA	New	MASTERCARD INCORPORATEDcl a	$487,389,000	–	1,544,912	–	4.59%	–
V	New	VISA INC	$425,485,000	–	2,161,028	–	4.01%	–
LPLA	New	LPL FINL HLDGS INC	$422,303,000	–	2,289,151	–	3.98%	–
BKNG	New	BOOKING HOLDINGS INC	$414,792,000	–	237,161	–	3.91%	–
UNH	New	UNITEDHEALTH GROUP INC	$411,064,000	–	800,312	–	3.88%	–
DKS	New	DICKS SPORTING GOODS INC	$377,992,000	–	5,015,154	–	3.56%	–
RH	New	RH	$376,352,000	–	1,773,069	–	3.55%	–
GOOGL	New	ALPHABET INCcap stk cl a	$374,813,000	–	171,991	–	3.53%	–
EPAM	New	EPAM SYS INC	$373,393,000	–	1,266,683	–	3.52%	–
TEAM	New	ATLASSIAN CORP PLCcl a	$303,433,000	–	1,619,172	–	2.86%	–
PYPL	New	PAYPAL HLDGS INC	$299,546,000	–	4,289,025	–	2.82%	–
EQT	New	EQT CORP	$218,514,000	–	6,352,146	–	2.06%	–
MQ	New	MARQETA INC	$134,706,000	–	16,609,826	–	1.27%	–
FCNCA	New	FIRST CTZNS BANCSHARES INC Ncl a	$59,908,000	–	91,634	–	0.56%	–
	New	SWEETGREEN INC	$53,083,000	–	4,556,503	–	0.50%	–
	New	AVIDXCHANGE HOLDINGS INC	$31,195,000	–	5,080,632	–	0.29%	–
FICO	New	FAIR ISAAC CORP	$17,085,000	–	42,616	–	0.16%	–
	New	VTEX	$16,247,000	–	5,274,887	–	0.15%	–
	New	GROVE COLLABORATIVE HOLD INC	$2,315,000	–	500,000	–	0.02%	–
VIXY	New	PROSHARES TR IIput	$1,825,000	–	100,000	–	0.02%	–
SQ	New	BLOCK INCcl a	$1,462,000	–	23,787	–	0.01%	–
SHOP	New	SHOPIFY INCcl a	$781,000	–	25,000	–	0.01%	–

Q4 2021

			Value		Shares		↓ Weighting
	Exit	FRESHWORKS INC	$0	–	-275,000	–	-0.04%	–
FMTX	Exit	FORMA THERAPEUTICS HLDGS INC	$0	–	-800,000	–	-0.06%	–
ZYME	Exit	ZYMEWORKS INC	$0	–	-976,735	–	-0.10%	–
MQ	Exit	MARQETA INC	$0	–	-2,621,520	–	-0.20%	–
CFLT	Exit	CONFLUENT INC	$0	–	-1,394,644	–	-0.28%	–
NTES	Exit	NETEASE INCsponsored ads	$0	–	-1,015,388	–	-0.29%	–
	Exit	AMPLITUDE INC	$0	–	-1,627,000	–	-0.30%	–
FIGS	Exit	FIGS INCcl a	$0	–	-2,485,894	–	-0.31%	–
	Exit	VTEX	$0	–	-5,274,887	–	-0.37%	–
FATE	Exit	FATE THERAPEUTICS INC	$0	–	-2,199,284	–	-0.44%	–
ASND	Exit	ASCENDIS PHARMA A/Ssponsored adr	$0	–	-1,436,981	–	-0.77%	–
PVH	Exit	PVH CORPORATION	$0	–	-3,297,609	–	-1.14%	–
	Exit	VICTORIAS SECRET AND CO	$0	–	-8,609,543	–	-1.60%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-784,342	–	-1.65%	–
STNE	Exit	STONECO LTD	$0	–	-15,093,113	–	-1.77%	–
BEKE	Exit	KE HLDGS INCsponsored ads	$0	–	-30,201,786	–	-1.86%	–
BILI	Exit	BILIBILI INCspons ads rep z	$0	–	-8,612,782	–	-1.92%	–
CVNA	Exit	CARVANA COcl a	$0	–	-2,142,309	–	-2.18%	–
DDOG	Exit	DATADOG INC	$0	–	-4,646,717	–	-2.21%	–
IBN	Exit	ICICI BANK LIMITEDadr	$0	–	-39,750,227	–	-2.53%	–
DXCM	Exit	DEXCOM INC	$0	–	-1,441,227	–	-2.66%	–
FTCH	Exit	FARFETCH LTDord sh cl a	$0	–	-22,945,132	–	-2.90%	–
RH	Exit	RH	$0	–	-1,290,620	–	-2.90%	–
COUP	Exit	COUPA SOFTWARE INC	$0	–	-4,566,251	–	-3.37%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-3,074,926	–	-3.52%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-1,955,187	–	-3.79%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-3,005,990	–	-3.96%	–
AMZN	Exit	AMAZON COM INC	$0	–	-361,112	–	-4.00%	–
MTCH	Exit	MATCH GROUP INC NEW	$0	–	-7,773,867	–	-4.11%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-4,973,868	–	-4.19%	–
MRNA	Exit	MODERNA INC	$0	–	-3,316,199	–	-4.30%	–
SQ	Exit	SQUARE INCcl a	$0	–	-5,380,864	–	-4.35%	–
TWTR	Exit	TWITTER INC	$0	–	-21,533,828	–	-4.38%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-4,694,472	–	-4.46%	–
NOW	Exit	SERVICENOW INC	$0	–	-2,193,941	–	-4.60%	–
	Exit	BATH & BODY WORKS INC	$0	–	-24,300,268	–	-5.16%	–
DASH	Exit	DOORDASH INCcl a	$0	–	-7,460,157	–	-5.18%	–
SNAP	Exit	SNAP INCcl a	$0	–	-22,638,657	–	-5.64%	–
SHOP	Exit	SHOPIFY INCcl a	$0	–	-1,430,135	–	-6.53%	–

Q3 2021

			Value		Shares		↓ Weighting
SHOP	Sell	SHOPIFY INCcl a	$1,938,948,000	-18.7%	1,430,135	-12.4%	6.53%	-15.0%
SNAP	Sell	SNAP INCcl a	$1,672,318,000	+7.0%	22,638,657	-1.3%	5.64%	+11.8%
	New	BATH & BODY WORKS INC	$1,531,646,000	–	24,300,268	–	5.16%	–
NOW	Sell	SERVICENOW INC	$1,365,224,000	+0.6%	2,193,941	-11.1%	4.60%	+5.2%
MSFT	Sell	MICROSOFT CORP	$1,323,466,000	-7.4%	4,694,472	-11.0%	4.46%	-3.1%
TWTR	Buy	TWITTER INC	$1,300,428,000	+90.8%	21,533,828	+117.4%	4.38%	+99.5%
SQ	Sell	SQUARE INCcl a	$1,290,546,000	-7.4%	5,380,864	-5.9%	4.35%	-3.1%
MRNA	Sell	MODERNA INC	$1,276,272,000	+36.1%	3,316,199	-16.9%	4.30%	+42.3%
WDAY	Buy	WORKDAY INCcl a	$1,242,920,000	+51.9%	4,973,868	+45.1%	4.19%	+58.8%
MTCH	Buy	MATCH GROUP INC NEW	$1,220,419,000	-2.3%	7,773,867	+0.4%	4.11%	+2.2%
AMZN	Sell	AMAZON COM INC	$1,186,267,000	-28.9%	361,112	-25.5%	4.00%	-25.6%
ADBE	Sell	ADOBE SYSTEMS INCORPORATED	$1,125,640,000	-20.5%	1,955,187	-19.1%	3.79%	-16.8%
FB	Sell	FACEBOOK INCcl a	$1,043,599,000	-39.8%	3,074,926	-38.3%	3.52%	-37.0%
COUP	Sell	COUPA SOFTWARE INC	$1,000,831,000	-18.2%	4,566,251	-2.2%	3.37%	-14.5%
RH	Buy	RH	$860,727,000	+24.2%	1,290,620	+26.4%	2.90%	+29.8%
FTCH	Buy	FARFETCH LTDord sh cl a	$859,984,000	-9.5%	22,945,132	+21.6%	2.90%	-5.4%
DXCM	Sell	DEXCOM INC	$788,149,000	-1.2%	1,441,227	-22.9%	2.66%	+3.3%
IBN	Sell	ICICI BANK LIMITEDadr	$750,087,000	+1.6%	39,750,227	-7.9%	2.53%	+6.3%
DDOG	Sell	DATADOG INC	$656,813,000	+8.2%	4,646,717	-20.3%	2.21%	+13.1%
BILI	New	BILIBILI INCspons ads rep z	$569,908,000	–	8,612,782	–	1.92%	–
BEKE	Buy	KE HLDGS INCsponsored ads	$551,485,000	-11.5%	30,201,786	+131.1%	1.86%	-7.5%
STNE	Buy	STONECO LTD	$524,033,000	-11.7%	15,093,113	+70.6%	1.77%	-7.6%
TDG	Buy	TRANSDIGM GROUP INC	$489,876,000	+5.5%	784,342	+9.3%	1.65%	+10.3%
	New	VICTORIAS SECRET AND CO	$475,763,000	–	8,609,543	–	1.60%	–
PVH	Buy	PVH CORPORATION	$338,961,000	+15.8%	3,297,609	+21.2%	1.14%	+21.1%
FATE	Buy	FATE THERAPEUTICS INC	$130,352,000	-14.1%	2,199,284	+25.7%	0.44%	-10.2%
	New	VTEX	$108,504,000	–	5,274,887	–	0.37%	–
FIGS	Sell	FIGS INCcl a	$92,326,000	-56.9%	2,485,894	-41.8%	0.31%	-54.9%
	New	AMPLITUDE INC	$88,411,000	–	1,627,000	–	0.30%	–
NTES	New	NETEASE INCsponsored ads	$86,714,000	–	1,015,388	–	0.29%	–
CFLT	Buy	CONFLUENT INC	$83,191,000	+169.4%	1,394,644	+114.6%	0.28%	+182.8%
MQ	New	MARQETA INC	$57,988,000	–	2,621,520	–	0.20%	–
	New	FRESHWORKS INC	$11,740,000	–	275,000	–	0.04%	–
S	Exit	SENTINELONE INCcl a	$0	–	-175,000	–	-0.02%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-1,803,798	–	-2.12%	–
GPN	Exit	GLOBAL PMTS INC	$0	–	-5,542,294	–	-3.35%	–
LB	Exit	L BRANDS INC	$0	–	-26,265,094	–	-6.10%	–

Q2 2021

			Value		Shares		↓ Weighting
SHOP	New	SHOPIFY INCcl a	$2,385,123,000	–	1,632,550	–	7.69%	–
LB	New	L BRANDS INC	$1,892,663,000	–	26,265,094	–	6.10%	–
FB	New	FACEBOOK INCcl a	$1,733,581,000	–	4,985,709	–	5.59%	–
AMZN	New	AMAZON COM INC	$1,667,587,000	–	484,741	–	5.37%	–
SNAP	New	SNAP INCcl a	$1,563,287,000	–	22,942,282	–	5.04%	–
MSFT	New	MICROSOFT CORP	$1,429,125,000	–	5,275,472	–	4.60%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$1,415,464,000	–	2,416,952	–	4.56%	–
SQ	New	SQUARE INCcl a	$1,393,383,000	–	5,715,271	–	4.49%	–
NOW	New	SERVICENOW INC	$1,356,728,000	–	2,468,798	–	4.37%	–
DASH	New	DOORDASH INCcl a	$1,330,370,000	–	7,460,157	–	4.29%	–
MTCH	New	MATCH GROUP INC NEW	$1,249,123,000	–	7,746,500	–	4.02%	–
COUP	New	COUPA SOFTWARE INC	$1,223,959,000	–	4,669,637	–	3.94%	–
UNH	New	UNITEDHEALTH GROUP INC	$1,203,719,000	–	3,005,990	–	3.88%	–
GPN	New	GLOBAL PMTS INC	$1,039,402,000	–	5,542,294	–	3.35%	–
FTCH	New	FARFETCH LTDord sh cl a	$950,136,000	–	18,866,886	–	3.06%	–
MRNA	New	MODERNA INC	$937,781,000	–	3,990,897	–	3.02%	–
WDAY	New	WORKDAY INCcl a	$818,249,000	–	3,427,366	–	2.64%	–
DXCM	New	DEXCOM INC	$797,759,000	–	1,868,287	–	2.57%	–
IBN	New	ICICI BANK LIMITEDadr	$737,965,000	–	43,155,826	–	2.38%	–
RH	New	RH	$693,140,000	–	1,020,825	–	2.23%	–
TWTR	New	TWITTER INC	$681,422,000	–	9,902,947	–	2.20%	–
MA	New	MASTERCARD INCORPORATEDcl a	$658,549,000	–	1,803,798	–	2.12%	–
CVNA	New	CARVANA COcl a	$646,592,000	–	2,142,309	–	2.08%	–
BEKE	New	KE HLDGS INCsponsored ads	$623,140,000	–	13,069,217	–	2.01%	–
DDOG	New	DATADOG INC	$606,931,000	–	5,831,385	–	1.96%	–
STNE	New	STONECO LTD	$593,242,000	–	8,846,433	–	1.91%	–
TDG	New	TRANSDIGM GROUP INC	$464,407,000	–	717,463	–	1.50%	–
PVH	New	PVH CORPORATION	$292,613,000	–	2,719,709	–	0.94%	–
FIGS	New	FIGS INCcl a	$214,156,000	–	4,274,577	–	0.69%	–
ASND	New	ASCENDIS PHARMA A/Ssponsored adr	$189,035,000	–	1,436,981	–	0.61%	–
FATE	New	FATE THERAPEUTICS INC	$151,820,000	–	1,749,284	–	0.49%	–
ZYME	New	ZYMEWORKS INC	$33,883,000	–	976,735	–	0.11%	–
CFLT	New	CONFLUENT INC	$30,875,000	–	650,000	–	0.10%	–
FMTX	New	FORMA THERAPEUTICS HLDGS INC	$19,912,000	–	800,000	–	0.06%	–
S	New	SENTINELONE INCcl a	$7,438,000	–	175,000	–	0.02%	–

Q4 2020

			Value		Shares		↓ Weighting
BEKE	Exit	KE HLDGS INCsponsored ads	$0	–	-1,000,000	–	-0.26%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-58,920	–	-0.43%	–
PODD	Exit	INSULET CORP	$0	–	-462,209	–	-0.47%	–
HWM	Exit	HOWMET AEROSPACE INC	$0	–	-7,888,593	–	-0.57%	–
DXCM	Exit	DEXCOM INC	$0	–	-463,087	–	-0.82%	–
BILL	Exit	BILL COM HLDGS INC	$0	–	-2,216,266	–	-0.96%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-213,602	–	-0.99%	–
SNOW	Exit	SNOWFLAKE INCcl a	$0	–	-1,002,060	–	-1.08%	–
NUAN	Exit	NUANCE COMMUNICATIONS INC	$0	–	-8,480,618	–	-1.21%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-754,410	–	-1.54%	–
STNE	Exit	STONECO LTD	$0	–	-8,296,213	–	-1.88%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-1,763,571	–	-2.56%	–
TEAM	Exit	ATLASSIAN CORP PLCcl a	$0	–	-3,289,546	–	-2.57%	–
DDOG	Exit	DATADOG INC	$0	–	-6,548,876	–	-2.87%	–
ADSK	Exit	AUTODESK INC	$0	–	-2,927,671	–	-2.90%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-10,278,292	–	-3.17%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-1,689,613	–	-3.56%	–
LB	Exit	L BRANDS INC	$0	–	-26,265,094	–	-3.59%	–
NOW	Exit	SERVICENOW INC	$0	–	-1,770,901	–	-3.69%	–
MTCH	Exit	MATCH GROUP INC NEW	$0	–	-7,833,531	–	-3.72%	–
SQ	Exit	SQUARE INCcl a	$0	–	-5,368,133	–	-3.75%	–
DOCU	Exit	DOCUSIGN INC	$0	–	-4,135,353	–	-3.82%	–
HUM	Exit	HUMANA INC	$0	–	-2,173,844	–	-3.86%	–
AMZN	Exit	AMAZON COM INC	$0	–	-337,308	–	-4.56%	–
NFLX	Exit	NETFLIX INC	$0	–	-2,251,223	–	-4.84%	–
GPN	Exit	GLOBAL PMTS INC	$0	–	-6,395,026	–	-4.88%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-6,000,915	–	-5.08%	–
COUP	Exit	COUPA SOFTWARE INC	$0	–	-4,329,269	–	-5.10%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-3,946,431	–	-5.28%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-6,440,494	–	-5.82%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-5,849,522	–	-6.58%	–
SHOP	Exit	SHOPIFY INCcl a	$0	–	-1,722,548	–	-7.57%	–

Q3 2020

			Value		Shares		↓ Weighting
SHOP	Buy	SHOPIFY INCcl a	$1,762,115,000	+10.9%	1,722,548	+2.9%	7.57%	-5.7%
FB	Buy	FACEBOOK INCcl a	$1,531,990,000	+28.1%	5,849,522	+11.1%	6.58%	+8.9%
MSFT	Buy	MICROSOFT CORP	$1,354,629,000	+6.8%	6,440,494	+3.3%	5.82%	-9.2%
UNH	Buy	UNITEDHEALTH GROUP INC	$1,230,379,000	+37.9%	3,946,431	+30.5%	5.28%	+17.3%
COUP	Buy	COUPA SOFTWARE INC	$1,187,259,000	+101.7%	4,329,269	+103.8%	5.10%	+71.5%
PYPL	Sell	PAYPAL HLDGS INC	$1,182,360,000	-8.0%	6,000,915	-18.7%	5.08%	-21.8%
GPN	Buy	GLOBAL PMTS INC	$1,135,629,000	+39.8%	6,395,026	+33.5%	4.88%	+18.8%
NFLX	Buy	NETFLIX INC	$1,125,679,000	+54.0%	2,251,223	+40.2%	4.84%	+30.9%
AMZN	Sell	AMAZON COM INC	$1,062,092,000	-15.9%	337,308	-26.3%	4.56%	-28.5%
HUM	Sell	HUMANA INC	$899,732,000	-4.3%	2,173,844	-10.3%	3.86%	-18.6%
DOCU	New	DOCUSIGN INC	$890,093,000	–	4,135,353	–	3.82%	–
SQ	New	SQUARE INCcl a	$872,590,000	–	5,368,133	–	3.75%	–
MTCH	New	MATCH GROUP INC NEW	$866,780,000	–	7,833,531	–	3.72%	–
NOW	Sell	SERVICENOW INC	$858,887,000	+18.5%	1,770,901	-1.0%	3.69%	+0.8%
ADBE	Sell	ADOBE SYSTEMS INCORPORATED	$828,637,000	+4.7%	1,689,613	-7.1%	3.56%	-11.0%
ADSK	Buy	AUTODESK INC	$676,321,000	+35.2%	2,927,671	+40.0%	2.90%	+14.9%
DDOG	Sell	DATADOG INC	$669,033,000	+12.6%	6,548,876	-4.2%	2.87%	-4.3%
TEAM	New	ATLASSIAN CORP PLCcl a	$598,007,000	–	3,289,546	–	2.57%	–
MA	Sell	MASTERCARD INCORPORATEDcl a	$596,387,000	-8.5%	1,763,571	-20.0%	2.56%	-22.2%
STNE	New	STONECO LTD	$438,787,000	–	8,296,213	–	1.88%	–
TDG	Sell	TRANSDIGM GROUP INC	$358,435,000	-53.7%	754,410	-56.9%	1.54%	-60.6%
NUAN	New	NUANCE COMMUNICATIONS INC	$281,472,000	–	8,480,618	–	1.21%	–
SNOW	New	SNOWFLAKE INCcl a	$251,517,000	–	1,002,060	–	1.08%	–
MELI	New	MERCADOLIBRE INC	$231,220,000	–	213,602	–	0.99%	–
BILL	New	BILL COM HLDGS INC	$222,314,000	–	2,216,266	–	0.96%	–
DXCM	Buy	DEXCOM INC	$190,898,000	+38.7%	463,087	+36.4%	0.82%	+18.0%
PODD	New	INSULET CORP	$109,354,000	–	462,209	–	0.47%	–
BKNG	Sell	BOOKING HOLDINGS INC	$100,793,000	-89.4%	58,920	-90.1%	0.43%	-91.0%
BEKE	New	KE HLDGS INCsponsored ads	$61,300,000	–	1,000,000	–	0.26%	–
DFS	Exit	DISCOVER FINL SVCS	$0	–	-2,035,812	–	-0.52%	–
CVNA	Exit	CARVANA COcl a	$0	–	-849,665	–	-0.52%	–
VXX	Exit	BARCLAYS BK PLCput	$0	–	-9,500,000	–	-1.63%	–
ZM	Exit	ZOOM VIDEO COMMUNICATIONS INcl a	$0	–	-1,687,453	–	-2.16%	–
CDAY	Exit	CERIDIAN HCM HLDG INC	$0	–	-5,758,477	–	-2.31%	–
V	Exit	VISA INC	$0	–	-2,411,124	–	-2.35%	–
MTCH	Exit	MATCH GROUP INC	$0	–	-4,623,794	–	-2.50%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-3,045,252	–	-2.88%	–

Q2 2020

			Value		Shares		↓ Weighting
SHOP	New	SHOPIFY INCcl a	$1,588,716,000	–	1,673,742	–	8.03%	–
PYPL	New	PAYPAL HLDGS INC	$1,285,354,000	–	7,377,343	–	6.49%	–
MSFT	New	MICROSOFT CORP	$1,268,843,000	–	6,234,794	–	6.41%	–
AMZN	New	AMAZON COM INC	$1,262,273,000	–	457,541	–	6.38%	–
FB	New	FACEBOOK INCcl a	$1,195,972,000	–	5,266,975	–	6.04%	–
BKNG	New	BOOKING HOLDINGS INC	$949,246,000	–	596,133	–	4.80%	–
HUM	New	HUMANA INC	$939,915,000	–	2,424,024	–	4.75%	–
UNH	New	UNITEDHEALTH GROUP INC	$891,940,000	–	3,024,039	–	4.51%	–
GPN	New	GLOBAL PMTS INC	$812,398,000	–	4,789,516	–	4.10%	–
ADBE	New	ADOBE INC	$791,704,000	–	1,818,713	–	4.00%	–
TDG	New	TRANSDIGM GROUP INC	$773,900,000	–	1,750,708	–	3.91%	–
NFLX	New	NETFLIX INC	$730,886,000	–	1,606,202	–	3.69%	–
NOW	New	SERVICENOW INC	$724,667,000	–	1,789,035	–	3.66%	–
MA	New	MASTERCARD INCORPORATEDcl a	$651,803,000	–	2,204,271	–	3.29%	–
COF	New	CAPITAL ONE FINL CORP	$643,318,000	–	10,278,292	–	3.25%	–
DDOG	New	DATADOG INC	$594,116,000	–	6,832,849	–	3.00%	–
COUP	New	COUPA SOFTWARE INC	$588,527,000	–	2,124,340	–	2.97%	–
CRM	New	SALESFORCE COM INC	$570,467,000	–	3,045,252	–	2.88%	–
ADSK	New	AUTODESK INC	$500,360,000	–	2,091,892	–	2.53%	–
MTCH	New	MATCH GROUP INC	$494,977,000	–	4,623,794	–	2.50%	–
V	New	VISA INC	$465,757,000	–	2,411,124	–	2.35%	–
CDAY	New	CERIDIAN HCM HLDG INC	$456,474,000	–	5,758,477	–	2.31%	–
ZM	New	ZOOM VIDEO COMMUNICATIONS INcl a	$427,837,000	–	1,687,453	–	2.16%	–
LB	New	L BRANDS INC	$393,188,000	–	26,265,094	–	1.99%	–
VXX	New	BARCLAYS BK PLCput	$322,525,000	–	9,500,000	–	1.63%	–
DXCM	New	DEXCOM INC	$137,652,000	–	339,546	–	0.70%	–
HWM	New	HOWMET AEROSPACE INC	$125,034,000	–	7,888,593	–	0.63%	–
CVNA	New	CARVANA COcl a	$102,130,000	–	849,665	–	0.52%	–
DFS	New	DISCOVER FINL SVCS	$101,974,000	–	2,035,812	–	0.52%	–

Q4 2019

			Value		Shares		↓ Weighting
TWLO	Exit	TWILIO INCcl a	$0	–	-15,835	–	-0.01%	–
SMAR	Exit	SMARTSHEET INC	$0	–	-506,100	–	-0.11%	–
MDLA	Exit	MEDALLIA INC	$0	–	-737,593	–	-0.12%	–
HLF	Exit	HERBALIFE NUTRITION LTD	$0	–	-2,101,639	–	-0.47%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-3,001,420	–	-0.50%	–
CHWY	Exit	CHEWY INCcl a	$0	–	-5,071,531	–	-0.73%	–
DHI	Exit	D R HORTON INC	$0	–	-3,333,812	–	-1.03%	–
COUP	Exit	COUPA SOFTWARE INC	$0	–	-1,396,116	–	-1.06%	–
WWE	Exit	WORLD WRESTLING ENTMT INCcl a	$0	–	-2,959,183	–	-1.24%	–
SE	Exit	SEA LTDsponsored ads	$0	–	-6,862,222	–	-1.25%	–
TEAM	Exit	ATLASSIAN CORP PLCcl a	$0	–	-2,081,512	–	-1.54%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-580,417	–	-1.88%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-1,948,388	–	-2.04%	–
HUM	Exit	HUMANA INC	$0	–	-1,588,743	–	-2.39%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-211,257	–	-2.44%	–
CP	Exit	CANADIAN PAC RY LTD	$0	–	-1,870,085	–	-2.45%	–
UNP	Exit	UNION PACIFIC CORP	$0	–	-2,569,779	–	-2.45%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-1,724,511	–	-2.49%	–
SHOP	Exit	SHOPIFY INCcl a	$0	–	-1,377,171	–	-2.52%	–
NOW	Exit	SERVICENOW INC	$0	–	-1,697,825	–	-2.54%	–
EFX	Exit	EQUIFAX INC	$0	–	-3,068,747	–	-2.54%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-1,607,257	–	-2.57%	–
SQ	Exit	SQUARE INCcl a	$0	–	-8,010,127	–	-2.92%	–
IQV	Exit	IQVIA HLDGS INC	$0	–	-3,549,209	–	-3.12%	–
DPZ	Exit	DOMINOS PIZZA INC	$0	–	-2,177,742	–	-3.13%	–
GPN	Exit	GLOBAL PMTS INC	$0	–	-3,655,380	–	-3.42%	–
TIF	Exit	TIFFANY & CO NEW	$0	–	-6,381,880	–	-3.48%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-11,244,387	–	-3.50%	–
NFLX	Exit	NETFLIX INC	$0	–	-2,355,038	–	-3.71%	–
ADSK	Exit	AUTODESK INC	$0	–	-4,507,799	–	-3.92%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-1,284,058	–	-3.93%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-5,104,760	–	-4.46%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-6,059,549	–	-4.96%	–
ADBE	Exit	ADOBE INC	$0	–	-3,553,638	–	-5.78%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-4,528,854	–	-5.79%	–
AMZN	Exit	AMAZON COM INC	$0	–	-621,979	–	-6.35%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-7,292,562	–	-7.18%	–

Q3 2019

			Value		Shares		↓ Weighting
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$1,219,535,000	+22.5%	7,292,562	+24.1%	7.18%	+15.9%
AMZN	Buy	AMAZON COM INC	$1,079,700,000	+22.2%	621,979	+33.3%	6.35%	+15.7%
UNH	Buy	UNITEDHEALTH GROUP INC	$984,211,000	+6.9%	4,528,854	+20.1%	5.79%	+1.2%
ADBE	Sell	ADOBE INC	$981,692,000	-11.0%	3,553,638	-5.1%	5.78%	-15.8%
MSFT	Sell	MICROSOFT CORP	$842,459,000	-14.8%	6,059,549	-17.9%	4.96%	-19.4%
CRM	Buy	SALESFORCE COM INC	$757,751,000	+69.8%	5,104,760	+73.5%	4.46%	+60.6%
TDG	Sell	TRANSDIGM GROUP INC	$668,570,000	-12.8%	1,284,058	-19.0%	3.93%	-17.5%
ADSK	Buy	AUTODESK INC	$665,802,000	+2.4%	4,507,799	+13.0%	3.92%	-3.1%
NFLX	New	NETFLIX INC	$630,255,000	–	2,355,038	–	3.71%	–
ATVI	Buy	ACTIVISION BLIZZARD INC	$595,053,000	+22.1%	11,244,387	+8.9%	3.50%	+15.5%
TIF	Sell	TIFFANY & CO NEW	$591,154,000	-3.9%	6,381,880	-2.9%	3.48%	-9.1%
GPN	New	GLOBAL PMTS INC	$581,205,000	–	3,655,380	–	3.42%	–
DPZ	Buy	DOMINOS PIZZA INC	$532,654,000	+53.5%	2,177,742	+74.6%	3.13%	+45.2%
IQV	Sell	IQVIA HLDGS INC	$530,181,000	-46.7%	3,549,209	-42.6%	3.12%	-49.6%
SQ	Buy	SQUARE INCcl a	$496,227,000	+106.4%	8,010,127	+141.6%	2.92%	+95.3%
MA	Sell	MASTERCARD INCcl a	$436,483,000	-1.3%	1,607,257	-3.8%	2.57%	-6.6%
EFX	New	EQUIFAX INC	$431,681,000	–	3,068,747	–	2.54%	–
NOW	Buy	SERVICENOW INC	$430,993,000	+19.7%	1,697,825	+29.5%	2.54%	+13.3%
SHOP	Sell	SHOPIFY INCcl a	$429,209,000	-4.8%	1,377,171	-8.4%	2.52%	-10.0%
SPGI	Sell	S&P GLOBAL INC	$422,471,000	-3.9%	1,724,511	-10.7%	2.49%	-9.1%
UNP	Sell	UNION PACIFIC CORP	$416,253,000	-50.1%	2,569,779	-47.9%	2.45%	-52.8%
CP	Sell	CANADIAN PAC RY LTD	$416,019,000	-34.6%	1,870,085	-30.9%	2.45%	-38.2%
BKNG	Sell	BOOKING HLDGS INC	$414,615,000	-31.2%	211,257	-34.3%	2.44%	-34.9%
HUM	New	HUMANA INC	$406,194,000	–	1,588,743	–	2.39%	–
FB	Sell	FACEBOOK INCcl a	$346,969,000	-40.1%	1,948,388	-35.1%	2.04%	-43.3%
MELI	Buy	MERCADOLIBRE INC	$319,943,000	+9.8%	580,417	+21.8%	1.88%	+3.9%
TEAM	Buy	ATLASSIAN CORP PLCcl a	$261,105,000	+5165.3%	2,081,512	+5392.1%	1.54%	+4854.8%
SE	Buy	SEA LTDsponsored ads	$212,386,000	+4.2%	6,862,222	+11.9%	1.25%	-1.3%
WWE	Buy	WORLD WRESTLING ENTMT INCcl a	$210,546,000	+8.3%	2,959,183	+9.9%	1.24%	+2.5%
COUP	Buy	COUPA SOFTWARE INC	$180,895,000	+118.9%	1,396,116	+113.9%	1.06%	+107.0%
DHI	Sell	D R HORTON INC	$175,725,000	-67.2%	3,333,812	-73.2%	1.03%	-69.0%
CHWY	Buy	CHEWY INCcl a	$124,658,000	+8.2%	5,071,531	+54.0%	0.73%	+2.2%
HLF	New	HERBALIFE NUTRITION LTD	$79,568,000	–	2,101,639	–	0.47%	–
MDLA	New	MEDALLIA INC	$20,232,000	–	737,593	–	0.12%	–
SMAR	New	SMARTSHEET INC	$18,235,000	–	506,100	–	0.11%	–
TWLO	New	TWILIO INCcl a	$1,741,000	–	15,835	–	0.01%	–
STNE	Exit	STONECO LTD	$0	–	-2,528,303	–	-0.46%	–
WYNN	Exit	WYNN RESORTS LTD	$0	–	-5,406,697	–	-4.17%	–

Q2 2019

			Value		Shares		↓ Weighting
ADBE	New	ADOBE INC	$1,103,151,000	–	3,743,938	–	6.86%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$995,631,000	–	5,875,662	–	6.19%	–
IQV	New	IQVIA HLDGS INC	$995,312,000	–	6,185,907	–	6.19%	–
MSFT	New	MICROSOFT CORP	$989,229,000	–	7,384,511	–	6.15%	–
UNH	New	UNITEDHEALTH GROUP INC	$920,468,000	–	3,772,254	–	5.72%	–
AMZN	New	AMAZON COM INC	$883,399,000	–	466,511	–	5.49%	–
UNP	New	UNION PACIFIC CORP	$833,864,000	–	4,930,899	–	5.18%	–
TDG	New	TRANSDIGM GROUP INC	$767,067,000	–	1,585,504	–	4.77%	–
WYNN	New	WYNN RESORTS LTD	$670,376,000	–	5,406,697	–	4.17%	–
ADSK	New	AUTODESK INC	$649,953,000	–	3,989,892	–	4.04%	–
CP	New	CANADIAN PAC RY LTD	$636,561,000	–	2,706,006	–	3.96%	–
TIF	New	TIFFANY & CO NEW	$615,215,000	–	6,570,002	–	3.82%	–
BKNG	New	BOOKING HLDGS INC	$602,524,000	–	321,396	–	3.75%	–
FB	New	FACEBOOK INCcl a	$579,412,000	–	3,002,136	–	3.60%	–
DHI	New	D R HORTON INC	$536,124,000	–	12,430,413	–	3.33%	–
ATVI	New	ACTIVISION BLIZZARD INC	$487,318,000	–	10,324,534	–	3.03%	–
SHOP	New	SHOPIFY INCcl a	$451,057,000	–	1,502,771	–	2.80%	–
CRM	New	SALESFORCE COM INC	$446,349,000	–	2,941,733	–	2.78%	–
MA	New	MASTERCARD INCcl a	$442,018,000	–	1,670,957	–	2.75%	–
SPGI	New	S&P GLOBAL INC	$439,751,000	–	1,930,511	–	2.73%	–
NOW	New	SERVICENOW INC	$360,105,000	–	1,311,525	–	2.24%	–
DPZ	New	DOMINOS PIZZA INC	$347,086,000	–	1,247,255	–	2.16%	–
MELI	New	MERCADOLIBRE INC	$291,431,000	–	476,373	–	1.81%	–
SQ	New	SQUARE INCcl a	$240,425,000	–	3,314,831	–	1.50%	–
SE	New	SEA LTDsponsored ads	$203,776,000	–	6,134,122	–	1.27%	–
WWE	New	WORLD WRESTLING ENTMT INCcl a	$194,412,000	–	2,692,308	–	1.21%	–
UBER	New	UBER TECHNOLOGIES INC	$125,199,000	–	3,001,420	–	0.78%	–
CHWY	New	CHEWY INCcl a	$115,252,000	–	3,292,923	–	0.72%	–
COUP	New	COUPA SOFTWARE INC	$82,654,000	–	652,824	–	0.51%	–
STNE	New	STONECO LTD	$74,787,000	–	2,528,303	–	0.46%	–
TEAM	New	ATLASSIAN CORP PLCcl a	$4,959,000	–	37,900	–	0.03%	–

Q4 2018

			Value		Shares		↓ Weighting
NIO	Exit	NIO INCspon ads	$0	–	-3,736,290	–	-0.09%	–
SE	Exit	SEA LTDadr	$0	–	-3,963,222	–	-0.28%	–
FLT	Exit	FLEETCOR TECHNOLOGIES INC	$0	–	-504,075	–	-0.59%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-5,962,509	–	-2.70%	–
UNP	Exit	UNION PAC CORP	$0	–	-3,224,826	–	-2.70%	–
FDC	Exit	FIRST DATA CORP NEW	$0	–	-21,911,495	–	-2.76%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-1,785,259	–	-3.13%	–
NOW	Exit	SERVICENOW INC	$0	–	-3,166,637	–	-3.19%	–
NVDA	Exit	NVIDIA CORP	$0	–	-2,235,268	–	-3.23%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-3,863,203	–	-3.27%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-1,763,113	–	-3.38%	–
CSX	Exit	CSX CORP	$0	–	-9,430,475	–	-3.59%	–
AMZN	Exit	AMAZON COM INC	$0	–	-348,814	–	-3.60%	–
TRU	Exit	TRANSUNION	$0	–	-9,819,201	–	-3.72%	–
WYNN	Exit	WYNN RESORTS LTD	$0	–	-5,955,497	–	-3.89%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-3,017,661	–	-4.13%	–
CP	Exit	CANADIAN PAC RY LTD	$0	–	-3,896,747	–	-4.25%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-4,311,764	–	-4.78%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-7,855,868	–	-4.87%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-891,299	–	-5.47%	–
IQV	Exit	IQVIA HLDGS INC	$0	–	-8,403,439	–	-5.61%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-16,138,688	–	-6.91%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-5,424,771	–	-7.53%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-13,737,471	–	-8.08%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-9,732,169	–	-8.25%	–

Q3 2018

			Value		Shares		↓ Weighting
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$1,603,472,000	+35.2%	9,732,169	+52.2%	8.25%	+31.5%
MSFT	Buy	MICROSOFT CORP	$1,571,155,000	+27.4%	13,737,471	+9.9%	8.08%	+24.0%
ADBE	Buy	ADOBE SYS INC	$1,464,417,000	+34.8%	5,424,771	+21.7%	7.53%	+31.1%
ATVI	Buy	ACTIVISION BLIZZARD INC	$1,342,577,000	+23.4%	16,138,688	+13.2%	6.91%	+20.0%
IQV	Sell	IQVIA HLDGS INC	$1,090,262,000	+7.9%	8,403,439	-17.0%	5.61%	+5.0%
GOOG	Buy	ALPHABET INCcap stk cl c	$1,063,739,000	+44.9%	891,299	+35.5%	5.47%	+41.0%
EA	Buy	ELECTRONIC ARTS INC	$946,554,000	+6.2%	7,855,868	+24.4%	4.87%	+3.4%
STZ	Buy	CONSTELLATION BRANDS INCcl a	$929,703,000	+9.5%	4,311,764	+11.2%	4.78%	+6.5%
CP	Buy	CANADIAN PAC RY LTD	$825,877,000	+57.7%	3,896,747	+36.2%	4.25%	+53.4%
UNH	Sell	UNITEDHEALTH GROUP INC	$802,819,000	-20.6%	3,017,661	-26.8%	4.13%	-22.8%
WYNN	Buy	WYNN RESORTS LTD	$756,705,000	+19.0%	5,955,497	+56.8%	3.89%	+15.8%
TRU	Sell	TRANSUNION	$722,497,000	-0.4%	9,819,201	-3.1%	3.72%	-3.2%
AMZN	Sell	AMAZON COM INC	$698,674,000	-3.2%	348,814	-17.9%	3.60%	-5.8%
CSX	Sell	CSX CORP	$698,327,000	-17.0%	9,430,475	-28.5%	3.59%	-19.3%
TDG	Buy	TRANSDIGM GROUP INC	$656,407,000	+7.9%	1,763,113	+0.1%	3.38%	+5.0%
FB	Buy	FACEBOOK INCcl a	$635,342,000	-4.0%	3,863,203	+13.5%	3.27%	-6.6%
NVDA	Buy	NVIDIA CORP	$628,155,000	+24.2%	2,235,268	+4.7%	3.23%	+20.8%
NOW	Buy	SERVICENOW INC	$619,489,000	+19.2%	3,166,637	+5.1%	3.19%	+15.9%
MELI	Sell	MERCADOLIBRE INC	$607,827,000	-6.4%	1,785,259	-17.8%	3.13%	-9.0%
FDC	New	FIRST DATA CORP NEW	$536,174,000	–	21,911,495	–	2.76%	–
UNP	New	UNION PAC CORP	$525,098,000	–	3,224,826	–	2.70%	–
PYPL	Sell	PAYPAL HLDGS INC	$523,747,000	-0.5%	5,962,509	-5.7%	2.70%	-3.2%
FLT	Sell	FLEETCOR TECHNOLOGIES INC	$114,848,000	-46.2%	504,075	-50.2%	0.59%	-47.7%
NIO	New	NIO INCspon ads	$18,073,000	–	3,736,290	–	0.09%	–
PAGS	Exit	PAGSEGURO DIGITAL LTD	$0	–	-3,189,119	–	-0.47%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-477,072	–	-0.54%	–
SQ	Exit	SQUARE INCcl a	$0	–	-2,694,573	–	-0.88%	–
SBAC	Exit	SBA COMMUNICATIONS CORP NEWcl a	$0	–	-3,508,194	–	-3.06%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-7,233,575	–	-3.25%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-531,060	–	-5.69%	–

Q2 2018

			Value		Shares		↓ Weighting
MSFT	New	MICROSOFT CORP	$1,233,066,000	–	12,504,471	–	6.52%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$1,186,408,000	–	6,394,697	–	6.27%	–
ATVI	New	ACTIVISION BLIZZARD INC	$1,088,143,000	–	14,257,637	–	5.76%	–
ADBE	New	ADOBE SYS INC	$1,086,506,000	–	4,456,362	–	5.75%	–
BKNG	New	BOOKING HLDGS INC	$1,076,506,000	–	531,060	–	5.69%	–
UNH	New	UNITEDHEALTH GROUP INC	$1,011,148,000	–	4,121,415	–	5.35%	–
IQV	New	IQVIA HLDGS INC	$1,010,191,000	–	10,120,122	–	5.34%	–
EA	New	ELECTRONIC ARTS INC	$890,883,000	–	6,317,420	–	4.71%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$848,742,000	–	3,877,836	–	4.49%	–
CSX	New	CSX CORP	$841,401,000	–	13,192,235	–	4.45%	–
GOOG	New	ALPHABET INCcap stk cl c	$733,878,000	–	657,803	–	3.88%	–
TRU	New	TRANSUNION	$725,699,000	–	10,129,801	–	3.84%	–
AMZN	New	AMAZON COM INC	$721,912,000	–	424,704	–	3.82%	–
FB	New	FACEBOOK INCcl a	$661,572,000	–	3,404,550	–	3.50%	–
MELI	New	MERCADOLIBRE INC	$649,435,000	–	2,172,531	–	3.44%	–
WYNN	New	WYNN RESORTS LTD	$635,633,000	–	3,798,454	–	3.36%	–
DLTR	New	DOLLAR TREE INC	$614,854,000	–	7,233,575	–	3.25%	–
TDG	New	TRANSDIGM GROUP INC	$608,072,000	–	1,761,813	–	3.22%	–
SBAC	New	SBA COMMUNICATIONS CORP NEWcl a	$579,273,000	–	3,508,194	–	3.06%	–
PYPL	New	PAYPAL HLDGS INC	$526,323,000	–	6,320,681	–	2.78%	–
CP	New	CANADIAN PAC RY LTD	$523,726,000	–	2,861,578	–	2.77%	–
NOW	New	SERVICENOW INC	$519,868,000	–	3,014,253	–	2.75%	–
NVDA	New	NVIDIA CORP	$505,727,000	–	2,134,768	–	2.68%	–
FLT	New	FLEETCOR TECHNOLOGIES INC	$213,388,000	–	1,012,996	–	1.13%	–
SQ	New	SQUARE INCcl a	$166,093,000	–	2,694,573	–	0.88%	–
MHK	New	MOHAWK INDS INC	$102,222,000	–	477,072	–	0.54%	–
PAGS	New	PAGSEGURO DIGITAL LTD	$88,498,000	–	3,189,119	–	0.47%	–
SE	New	SEA LTDadr	$59,448,000	–	3,963,222	–	0.31%	–

Q4 2017

			Value		Shares		↓ Weighting
VXX	Exit	BARCLAYS BK PLCipath s&p500 vix	$0	–	-250,000	–	-0.05%	–
BUD	Exit	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$0	–	-715,551	–	-0.42%	–
FLT	Exit	FLEETCOR TECHNOLOGIES INC	$0	–	-801,482	–	-0.60%	–
VNTV	Exit	VANTIV INCcl a	$0	–	-2,291,437	–	-0.78%	–
AAP	Exit	ADVANCE AUTO PARTS INC	$0	–	-2,358,917	–	-1.14%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncall	$0	–	-700,000	–	-1.24%	–
TMUS	Exit	T MOBILE US INC	$0	–	-4,561,573	–	-1.37%	–
WYNN	Exit	WYNN RESORTS LTD	$0	–	-2,680,127	–	-1.94%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-1,630,524	–	-2.05%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-6,713,230	–	-2.09%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-4,234,102	–	-2.43%	–
TV	Exit	GRUPO TELEVISA SAspon adr rep ord	$0	–	-20,843,467	–	-2.50%	–
EQIX	Exit	EQUINIX INC	$0	–	-1,273,652	–	-2.76%	–
TRU	Exit	TRANSUNION	$0	–	-12,345,757	–	-2.84%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-6,270,806	–	-2.85%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-3,931,896	–	-2.85%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-8,749,665	–	-2.92%	–
NOW	Exit	SERVICENOW INC	$0	–	-5,271,621	–	-3.01%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-4,487,369	–	-3.08%	–
EXPE	Exit	EXPEDIA INC DEL	$0	–	-4,656,018	–	-3.26%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-407,409	–	-3.63%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-11,329,847	–	-4.10%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-5,032,256	–	-4.18%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-4,402,726	–	-4.19%	–
Q	Exit	QUINTILES IMS HOLDINGS INC	$0	–	-10,055,780	–	-4.65%	–
AVGO	Exit	BROADCOM LTD	$0	–	-5,090,360	–	-6.00%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-32,595,590	–	-6.10%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-19,839,465	–	-6.22%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncl a	$0	–	-3,660,652	–	-6.47%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-7,076,082	–	-6.86%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-8,815,009	–	-7.40%	–

Q3 2017

			Value		Shares		↓ Weighting
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$1,522,440,000	-7.4%	8,815,009	-24.4%	7.40%	-11.4%
STZ	Buy	CONSTELLATION BRANDS INCcl a	$1,411,325,000	+10.8%	7,076,082	+7.6%	6.86%	+6.0%
CHTR	Sell	CHARTER COMMUNICATIONS INC Ncl a	$1,330,354,000	-9.3%	3,660,652	-15.9%	6.47%	-13.2%
ATVI	Sell	ACTIVISION BLIZZARD INC	$1,279,844,000	+3.2%	19,839,465	-7.9%	6.22%	-1.3%
CMCSA	Buy	COMCAST CORP NEWcl a	$1,254,278,000	+57.7%	32,595,590	+59.5%	6.10%	+50.9%
AVGO	Sell	BROADCOM LTD	$1,234,616,000	-0.4%	5,090,360	-4.3%	6.00%	-4.7%
UNH	Buy	UNITEDHEALTH GROUP INC	$862,274,000	+172.7%	4,402,726	+158.2%	4.19%	+160.9%
FB	Sell	FACEBOOK INCcl a	$859,862,000	-7.7%	5,032,256	-18.4%	4.18%	-11.7%
MSFT	Buy	MICROSOFT CORP	$843,960,000	+26.4%	11,329,847	+17.0%	4.10%	+20.9%
PCLN	New	PRICELINE GRP INC	$745,893,000	–	407,409	–	3.63%	–
EXPE	Buy	EXPEDIA INC DEL	$670,187,000	-0.5%	4,656,018	+2.9%	3.26%	-4.8%
MA	Sell	MASTERCARD INCORPORATEDcl a	$633,617,000	+12.4%	4,487,369	-3.3%	3.08%	+7.5%
NOW	Buy	SERVICENOW INC	$619,574,000	+81.5%	5,271,621	+63.7%	3.01%	+73.7%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$601,102,000	+43.4%	8,749,665	+37.6%	2.92%	+37.2%
CRM	Buy	SALESFORCE COM INC	$585,819,000	+155.4%	6,270,806	+136.8%	2.85%	+144.3%
TRU	Buy	TRANSUNION	$583,460,000	+51.3%	12,345,757	+38.6%	2.84%	+44.7%
TV	Buy	GRUPO TELEVISA SAspon adr rep ord	$514,208,000	+2.7%	20,843,467	+1.5%	2.50%	-1.7%
EA	New	ELECTRONIC ARTS INC	$499,878,000	–	4,234,102	–	2.43%	–
PYPL	New	PAYPAL HLDGS INC	$429,848,000	–	6,713,230	–	2.09%	–
MELI	New	MERCADOLIBRE INC	$422,192,000	–	1,630,524	–	2.05%	–
WYNN	New	WYNN RESORTS LTD	$399,125,000	–	2,680,127	–	1.94%	–
TMUS	Sell	T MOBILE US INC	$281,267,000	-34.9%	4,561,573	-36.0%	1.37%	-37.7%
CHTR	New	CHARTER COMMUNICATIONS INC Ncall	$254,394,000	–	700,000	–	1.24%	–
AAP	Buy	ADVANCE AUTO PARTS INC	$234,005,000	-2.0%	2,358,917	+15.1%	1.14%	-6.3%
VNTV	New	VANTIV INCcl a	$161,478,000	–	2,291,437	–	0.78%	–
FLT	Sell	FLEETCOR TECHNOLOGIES INC	$124,045,000	-86.9%	801,482	-87.8%	0.60%	-87.5%
BUD	New	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$85,365,000	–	715,551	–	0.42%	–
VXX	New	BARCLAYS BK PLCipath s&p500 vix	$9,798,000	–	250,000	–	0.05%	–
VXX	Exit	BARCLAYS BK PLCipath s&p500 vix	$0	–	-1,000,000	–	-0.06%	–
FWONK	Exit	LIBERTY MEDIA CORP DELAWARE	$0	–	-2,919,817	–	-0.54%	–
ALB	Exit	ALBEMARLE CORP	$0	–	-1,158,452	–	-0.62%	–
SNAP	Exit	SNAP INCcl a	$0	–	-7,599,408	–	-0.66%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-5,186,332	–	-1.28%	–
ATUS	Exit	ALTICE USA INCcl a	$0	–	-8,395,511	–	-1.38%	–
ANET	Exit	ARISTA NETWORKS INC	$0	–	-1,845,638	–	-1.40%	–
ULTA	Exit	ULTA BEAUTY INC	$0	–	-1,438,673	–	-2.10%	–
CSX	Exit	CSX CORP	$0	–	-10,314,868	–	-2.86%	–
SYMC	Exit	SYMANTEC CORP	$0	–	-21,085,032	–	-3.03%	–
ORLY	Exit	O REILLY AUTOMOTIVE INC NEW	$0	–	-2,841,170	–	-3.16%	–

Q2 2017

			Value		Shares		↓ Weighting
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$1,643,852,000	–	11,666,798	–	8.36%	–
CHTR	New	CHARTER COMMUNICATIONS INC Ncl a	$1,466,588,000	–	4,353,832	–	7.46%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$1,274,119,000	–	6,576,776	–	6.48%	–
ATVI	New	ACTIVISION BLIZZARD INC	$1,239,779,000	–	21,535,165	–	6.30%	–
AVGO	New	BROADCOM LTD	$1,239,731,000	–	5,319,591	–	6.30%	–
FLT	New	FLEETCOR TECHNOLOGIES INC	$945,369,000	–	6,555,504	–	4.80%	–
FB	New	FACEBOOK INCcl a	$931,252,000	–	6,168,049	–	4.73%	–
Q	New	QUINTILES IMS HOLDINGS INC	$899,992,000	–	10,055,780	–	4.58%	–
CMCSA	New	COMCAST CORP NEWcl a	$795,462,000	–	20,438,394	–	4.04%	–
EXPE	New	EXPEDIA INC DEL	$673,792,000	–	4,523,614	–	3.42%	–
MSFT	New	MICROSOFT CORP	$667,776,000	–	9,687,742	–	3.39%	–
ORLY	New	O REILLY AUTOMOTIVE INC NEW	$621,478,000	–	2,841,170	–	3.16%	–
SYMC	New	SYMANTEC CORP	$595,652,000	–	21,085,032	–	3.03%	–
MA	New	MASTERCARD INCORPORATEDcl a	$563,694,000	–	4,641,369	–	2.86%	–
CSX	New	CSX CORP	$562,779,000	–	10,314,868	–	2.86%	–
ADBE	New	ADOBE SYS INC	$556,127,000	–	3,931,896	–	2.83%	–
EQIX	New	EQUINIX INC	$546,600,000	–	1,273,652	–	2.78%	–
TV	New	GRUPO TELEVISA SAspon adr rep ord	$500,447,000	–	20,535,367	–	2.54%	–
TMUS	New	T MOBILE US INC	$431,828,000	–	7,123,517	–	2.20%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$419,047,000	–	6,356,905	–	2.13%	–
ULTA	New	ULTA BEAUTY INC	$413,388,000	–	1,438,673	–	2.10%	–
TRU	New	TRANSUNION	$385,678,000	–	8,905,062	–	1.96%	–
NOW	New	SERVICENOW INC	$341,420,000	–	3,220,940	–	1.74%	–
UNH	New	UNITEDHEALTH GROUP INC	$316,207,000	–	1,705,353	–	1.61%	–
ANET	New	ARISTA NETWORKS INC	$276,458,000	–	1,845,638	–	1.40%	–
ATUS	New	ALTICE USA INCcl a	$271,175,000	–	8,395,511	–	1.38%	–
LNG	New	CHENIERE ENERGY INC	$252,626,000	–	5,186,332	–	1.28%	–
AAP	New	ADVANCE AUTO PARTS INC	$238,876,000	–	2,048,852	–	1.21%	–
CRM	New	SALESFORCE COM INC	$229,354,000	–	2,648,428	–	1.17%	–
SNAP	New	SNAP INCcl a	$130,487,000	–	7,599,408	–	0.66%	–
ALB	New	ALBEMARLE CORP	$122,263,000	–	1,158,452	–	0.62%	–
FWONK	New	LIBERTY MEDIA CORP DELAWARE	$106,924,000	–	2,919,817	–	0.54%	–
VXX	New	BARCLAYS BK PLCipath s&p500 vix	$12,760,000	–	1,000,000	–	0.06%	–

Q4 2016

			Value		Shares		↓ Weighting
UVXY	Exit	PROSHARES TR IIput	$0	–	-100,000	–	-0.01%	–
VXX	Exit	BARCLAYS BK PLCput	$0	–	-100,000	–	-0.02%	–
SHLDQ	Exit	SEARS HLDGS CORPput	$0	–	-3,500,000	–	-0.18%	–
COMM	Exit	COMMSCOPE HLDG CO INC	$0	–	-3,792,871	–	-0.51%	–
HCA	Exit	HCA HOLDINGS INC	$0	–	-1,669,543	–	-0.56%	–
V	Exit	VISA INC	$0	–	-2,337,675	–	-0.86%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-2,436,920	–	-1.02%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-1,176,827	–	-1.05%	–
WMB	Exit	WILLIAMS COS INC DEL	$0	–	-9,247,247	–	-1.27%	–
KMI	Exit	KINDER MORGAN INC DEL	$0	–	-12,334,772	–	-1.27%	–
HDB	Exit	HDFC BANK LTD	$0	–	-4,034,823	–	-1.30%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-1,207,229	–	-1.45%	–
SHPG	Exit	SHIRE PLCsponsored adr	$0	–	-1,694,675	–	-1.47%	–
LULU	Exit	LULULEMON ATHLETICA INC	$0	–	-5,586,042	–	-1.52%	–
A104PS	Exit	HILTON WORLDWIDE HLDGS INC	$0	–	-19,597,829	–	-2.01%	–
AVGO	Exit	BROADCOM LTD	$0	–	-2,606,593	–	-2.01%	–
TV	Exit	GRUPO TELEVISA SAspon adr rep ord	$0	–	-18,077,811	–	-2.07%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-10,741,417	–	-2.09%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-4,617,977	–	-2.24%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-5,151,461	–	-2.43%	–
VMC	Exit	VULCAN MATLS CO	$0	–	-5,000,113	–	-2.54%	–
YUM	Exit	YUM BRANDS INC	$0	–	-6,265,804	–	-2.54%	–
MNST	Exit	MONSTER BEVERAGE CORP NEW	$0	–	-4,149,493	–	-2.72%	–
EQIX	Exit	EQUINIX INC	$0	–	-1,799,578	–	-2.90%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-2,250,775	–	-2.91%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-843,449	–	-2.93%	–
ULTA	Exit	ULTA SALON COSMETCS & FRAG I	$0	–	-2,950,670	–	-3.14%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-8,619,020	–	-3.29%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-17,289,564	–	-3.42%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-6,246,441	–	-3.58%	–
EXPE	Exit	EXPEDIA INC DEL	$0	–	-7,143,331	–	-3.72%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-14,513,996	–	-3.73%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-574,683	–	-3.78%	–
FLT	Exit	FLEETCOR TECHNOLOGIES INC	$0	–	-4,877,583	–	-3.78%	–
NKE	Exit	NIKE INCcl b	$0	–	-17,452,774	–	-4.10%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-5,566,692	–	-4.14%	–
AMZN	Exit	AMAZON COM INC	$0	–	-1,292,728	–	-4.83%	–
EBAY	Exit	EBAY INC	$0	–	-33,164,569	–	-4.87%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-15,392,747	–	-5.42%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncl a	$0	–	-5,250,106	–	-6.33%	–

Q3 2016

			Value		Shares		↓ Weighting
CHTR	Buy	CHARTER COMMUNICATIONS INC Ncl a	$1,417,371,000	+29.4%	5,250,106	+9.6%	6.33%	+25.2%
DLTR	Buy	DOLLAR TREE INC	$1,214,950,000	-3.5%	15,392,747	+15.2%	5.42%	-6.6%
EBAY	New	EBAY INC	$1,091,114,000	–	33,164,569	–	4.87%	–
AMZN	Sell	AMAZON COM INC	$1,082,414,000	-8.0%	1,292,728	-21.4%	4.83%	-11.0%
STZ	Sell	CONSTELLATION BRANDS INCcl a	$926,799,000	-15.9%	5,566,692	-16.5%	4.14%	-18.7%
NKE	Sell	NIKE INCcl b	$918,889,000	-9.1%	17,452,774	-4.7%	4.10%	-12.0%
FLT	Sell	FLEETCOR TECHNOLOGIES INC	$847,382,000	+3.0%	4,877,583	-15.2%	3.78%	-0.3%
PCLN	Sell	PRICELINE GRP INC	$845,640,000	-39.6%	574,683	-48.7%	3.78%	-41.5%
MSFT	Sell	MICROSOFT CORP	$836,006,000	-5.6%	14,513,996	-16.1%	3.73%	-8.6%
EXPE	New	EXPEDIA INC DEL	$833,770,000	–	7,143,331	–	3.72%	–
FB	Sell	FACEBOOK INCcl a	$801,231,000	-35.9%	6,246,441	-42.9%	3.58%	-38.0%
ATVI	Buy	ACTIVISION BLIZZARD INC	$765,928,000	+87.8%	17,289,564	+68.0%	3.42%	+81.7%
EA	Buy	ELECTRONIC ARTS INC	$736,064,000	+173.3%	8,619,020	+142.4%	3.29%	+164.4%
ULTA	Sell	ULTA SALON COSMETCS & FRAG I	$702,200,000	-13.5%	2,950,670	-11.5%	3.14%	-16.3%
GOOG	Sell	ALPHABET INCcap stk cl c	$655,604,000	+7.2%	843,449	-4.6%	2.93%	+3.7%
TDG	Sell	TRANSDIGM GROUP INC	$650,744,000	+3.7%	2,250,775	-5.4%	2.91%	+0.3%
EQIX	Sell	EQUINIX INC	$648,298,000	-21.9%	1,799,578	-15.9%	2.90%	-24.4%
MNST	Buy	MONSTER BEVERAGE CORP NEW	$609,187,000	-8.5%	4,149,493	+0.2%	2.72%	-11.4%
YUM	Sell	YUM BRANDS INC	$568,998,000	-31.2%	6,265,804	-37.2%	2.54%	-33.4%
VMC	Buy	VULCAN MATLS CO	$568,663,000	+25.2%	5,000,113	+32.5%	2.54%	+21.2%
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$544,973,000	–	5,151,461	–	2.43%	–
ADBE	Sell	ADOBE SYS INC	$501,235,000	+4.7%	4,617,977	-7.6%	2.24%	+1.3%
LNG	Sell	CHENIERE ENERGY INC	$468,326,000	-3.2%	10,741,417	-16.6%	2.09%	-6.3%
TV	New	GRUPO TELEVISA SAspon adr rep ord	$464,419,000	–	18,077,811	–	2.07%	–
AVGO	New	BROADCOM LTD	$449,689,000	–	2,606,593	–	2.01%	–
A104PS	New	HILTON WORLDWIDE HLDGS INC	$449,378,000	–	19,597,829	–	2.01%	–
LULU	Sell	LULULEMON ATHLETICA INC	$340,637,000	-37.8%	5,586,042	-24.6%	1.52%	-39.8%
SHPG	Sell	SHIRE PLCsponsored adr	$328,530,000	-29.4%	1,694,675	-33.0%	1.47%	-31.7%
ICE	New	INTERCONTINENTAL EXCHANGE IN	$325,179,000	–	1,207,229	–	1.45%	–
HDB	Sell	HDFC BANK LTD	$290,063,000	-25.6%	4,034,823	-31.4%	1.30%	-28.0%
KMI	New	KINDER MORGAN INC DEL	$285,303,000	–	12,334,772	–	1.27%	–
WMB	New	WILLIAMS COS INC DEL	$284,168,000	–	9,247,247	–	1.27%	–
MHK	Sell	MOHAWK INDS INC	$235,766,000	-31.7%	1,176,827	-35.3%	1.05%	-33.9%
ALGN	New	ALIGN TECHNOLOGY INC	$228,461,000	–	2,436,920	–	1.02%	–
V	Sell	VISA INC	$193,326,000	-63.8%	2,337,675	-67.6%	0.86%	-65.0%
HCA	New	HCA HOLDINGS INC	$126,268,000	–	1,669,543	–	0.56%	–
COMM	Buy	COMMSCOPE HLDG CO INC	$114,203,000	+5.4%	3,792,871	+8.6%	0.51%	+2.0%
VXX	New	BARCLAYS BK PLCput	$3,407,000	–	100,000	–	0.02%	–
UVXY	New	PROSHARES TR IIput	$1,665,000	–	100,000	–	0.01%	–
VXX	Exit	BARCLAYS BK PLCput	$0	–	-100,000	–	-0.01%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-25,000	–	-0.01%	–
UVXY	Exit	PROSHARES TR IIput	$0	–	-100,000	–	-0.02%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-165,008	–	-0.54%	–
ANET	Exit	ARISTA NETWORKS INC	$0	–	-1,871,465	–	-0.56%	–
PXD	Exit	PIONEER NAT RES CO	$0	–	-1,329,480	–	-0.93%	–
SHW	Exit	SHERWIN WILLIAMS CO	$0	–	-1,143,668	–	-1.55%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-11,080,118	–	-1.87%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-4,968,587	–	-2.02%	–
BUD	Exit	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$0	–	-4,207,607	–	-2.56%	–
NOC	Exit	NORTHROP GRUMMAN CORP	$0	–	-2,647,065	–	-2.72%	–

Q2 2016

			Value		Shares		↓ Weighting
PCLN	New	PRICELINE GRP INC	$1,399,165,000	–	1,120,758	–	6.46%	–
DLTR	New	DOLLAR TREE INC	$1,259,249,000	–	13,362,151	–	5.81%	–
FB	New	FACEBOOK INCcl a	$1,250,365,000	–	10,941,237	–	5.77%	–
AMZN	New	AMAZON COM INC	$1,176,385,000	–	1,643,868	–	5.43%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$1,102,558,000	–	6,666,012	–	5.09%	–
CHTR	New	CHARTER COMMUNICATIONS INC Ncl a	$1,095,736,000	–	4,792,408	–	5.06%	–
NKE	New	NIKE INCcl b	$1,010,475,000	–	18,305,703	–	4.66%	–
MSFT	New	MICROSOFT CORP	$885,190,000	–	17,298,996	–	4.08%	–
EQIX	New	EQUINIX INC	$830,115,000	–	2,140,962	–	3.83%	–
YUM	New	YUM BRANDS INC	$826,899,000	–	9,972,255	–	3.82%	–
FLT	New	FLEETCOR TECHNOLOGIES INC	$823,069,000	–	5,750,503	–	3.80%	–
ULTA	New	ULTA SALON COSMETCS & FRAG I	$812,024,000	–	3,332,886	–	3.75%	–
MNST	New	MONSTER BEVERAGE CORP NEW	$665,593,000	–	4,141,575	–	3.07%	–
TDG	New	TRANSDIGM GROUP INC	$627,693,000	–	2,380,420	–	2.90%	–
GOOG	New	ALPHABET INCcap stk cl c	$611,739,000	–	883,888	–	2.82%	–
NOC	New	NORTHROP GRUMMAN CORP	$588,390,000	–	2,647,065	–	2.72%	–
BUD	New	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$554,058,000	–	4,207,607	–	2.56%	–
LULU	New	LULULEMON ATHLETICA INC	$547,325,000	–	7,410,304	–	2.52%	–
V	New	VISA INC	$534,600,000	–	7,207,771	–	2.47%	–
LNG	New	CHENIERE ENERGY INC	$483,820,000	–	12,884,676	–	2.23%	–
ADBE	New	ADOBE SYS INC	$478,800,000	–	4,998,438	–	2.21%	–
SHPG	New	SHIRE PLCsponsored adr	$465,566,000	–	2,529,148	–	2.15%	–
VMC	New	VULCAN MATLS CO	$454,084,000	–	3,772,719	–	2.10%	–
MA	New	MASTERCARD INCcl a	$437,534,000	–	4,968,587	–	2.02%	–
ATVI	New	ACTIVISION BLIZZARD INC	$407,916,000	–	10,293,113	–	1.88%	–
PYPL	New	PAYPAL HLDGS INC	$404,535,000	–	11,080,118	–	1.87%	–
HDB	New	HDFC BANK LTD	$390,011,000	–	5,878,093	–	1.80%	–
MHK	New	MOHAWK INDS INC	$345,035,000	–	1,818,269	–	1.59%	–
SHW	New	SHERWIN WILLIAMS CO	$335,861,000	–	1,143,668	–	1.55%	–
EA	New	ELECTRONIC ARTS INC	$269,354,000	–	3,555,356	–	1.24%	–
PXD	New	PIONEER NAT RES CO	$201,031,000	–	1,329,480	–	0.93%	–
ANET	New	ARISTA NETWORKS INC	$120,485,000	–	1,871,465	–	0.56%	–
GOOGL	New	ALPHABET INCcap stk cl a	$116,088,000	–	165,008	–	0.54%	–
COMM	New	COMMSCOPE HLDG CO INC	$108,384,000	–	3,492,871	–	0.50%	–
SHLDQ	New	SEARS HLDGS CORPput	$47,635,000	–	3,500,000	–	0.22%	–
UVXY	New	PROSHARES TR IIput	$4,715,000	–	100,000	–	0.02%	–
AXP	New	AMERICAN EXPRESS CO	$1,519,000	–	25,000	–	0.01%	–
VXX	New	BARCLAYS BK PLCput	$1,381,000	–	100,000	–	0.01%	–

Q4 2015

			Value		Shares		↓ Weighting
DEO	Exit	DIAGEO P L Cspon adr new	$0	–	-1,000	–	0.00%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-1,000	–	0.00%	–
MSFT	Exit	MICROSOFT CORPcall	$0	–	-775,600	–	-0.14%	–
CSX	Exit	CSX CORPcall	$0	–	-1,331,200	–	-0.15%	–
RLGY	Exit	REALOGY HLDGS CORP	$0	–	-979,197	–	-0.15%	–
SHLDQ	Exit	SEARS HLDGS CORPput	$0	–	-2,010,000	–	-0.18%	–
FNF	Exit	FIDELITY NATIONAL FINANCIALcall	$0	–	-1,915,000	–	-0.28%	–
GRA	Exit	GRACE W R & CO DEL NEW	$0	–	-1,351,301	–	-0.51%	–
KSU	Exit	KANSAS CITY SOUTHERN	$0	–	-1,398,480	–	-0.52%	–
EXPE	Exit	EXPEDIA INC DEL	$0	–	-1,094,269	–	-0.52%	–
ANET	Exit	ARISTA NETWORKS INC	$0	–	-2,175,925	–	-0.54%	–
VXX	Exit	BARCLAYS BK PLCput	$0	–	-5,500,000	–	-0.57%	–
TAP	Exit	MOLSON COORS BREWING COcl b	$0	–	-1,944,601	–	-0.66%	–
HBI	Exit	HANESBRANDS INC	$0	–	-7,689,684	–	-0.91%	–
FNF	Exit	FIDELITY NATIONAL FINANCIAL	$0	–	-6,512,113	–	-0.94%	–
ENDP	Exit	ENDO INTL PLC	$0	–	-3,859,641	–	-1.09%	–
VMC	Exit	VULCAN MATLS CO	$0	–	-3,201,896	–	-1.16%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-9,293,749	–	-1.17%	–
MBBYF	Exit	MOBILEYE N V AMSTELVEEN	$0	–	-6,394,066	–	-1.18%	–
SBAC	Exit	SBA COMMUNICATIONS CORP	$0	–	-2,801,753	–	-1.20%	–
DEO	Exit	DIAGEO P L Ccall	$0	–	-2,850,000	–	-1.25%	–
HZNP	Exit	HORIZON PHARMA PLC	$0	–	-15,600,988	–	-1.26%	–
AXP	Exit	AMERICAN EXPRESS COcall	$0	–	-4,300,000	–	-1.30%	–
HDB	Exit	HDFC BANK LTD	$0	–	-5,349,293	–	-1.33%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-5,139,395	–	-1.40%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-1,971,450	–	-1.46%	–
SCHW	Exit	SCHWAB CHARLES CORP NEW	$0	–	-13,396,145	–	-1.56%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-2,215,423	–	-1.92%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-6,209,219	–	-2.08%	–
ULTA	Exit	ULTA SALON COSMETCS & FRAG I	$0	–	-3,276,408	–	-2.18%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Dcall	$0	–	-3,050,000	–	-2.18%	–
WBA	Exit	WALGREENS BOOTS ALLIANCE INC	$0	–	-6,787,816	–	-2.30%	–
DVA	Exit	DAVITA HEALTHCARE PARTNERS I	$0	–	-7,918,998	–	-2.33%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-4,684,214	–	-2.39%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-12,241,775	–	-2.41%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-8,782,612	–	-2.42%	–
ILMN	Exit	ILLUMINA INC	$0	–	-3,609,735	–	-2.58%	–
WMB	Exit	WILLIAMS COS INC DEL	$0	–	-17,675,229	–	-2.65%	–
UVXY	Exit	PROSHARES TR IIput	$0	–	-12,000,000	–	-2.74%	–
V	Exit	VISA INC	$0	–	-9,769,463	–	-2.77%	–
NKE	Exit	NIKE INCcl b	$0	–	-5,700,855	–	-2.86%	–
AGN	Exit	ALLERGAN PLC	$0	–	-2,607,655	–	-2.89%	–
EQIX	Exit	EQUINIX INC	$0	–	-2,650,775	–	-2.95%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-8,343,895	–	-3.06%	–
FLT	Exit	FLEETCOR TECHNOLOGIES INC	$0	–	-6,434,203	–	-3.61%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-10,702,259	–	-3.92%	–
AMZN	Exit	AMAZON COM INC	$0	–	-1,937,002	–	-4.04%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-25,339,024	–	-4.57%	–
JD	Exit	JD COM INCspon adr cl a	$0	–	-43,495,999	–	-4.62%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Dcl a new	$0	–	-6,550,257	–	-4.69%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-992,252	–	-5.00%	–
VRX	Exit	VALEANT PHARMACEUTICALS INTL	$0	–	-7,461,780	–	-5.42%	–

Q3 2015

			Value		Shares		↓ Weighting
VRX	Buy	VALEANT PHARMACEUTICALS INTL	$1,331,032,000	+12.8%	7,461,780	+40.5%	5.42%	+22.8%
PCLN	Sell	PRICELINE GRP INC	$1,227,277,000	-10.6%	992,252	-16.7%	5.00%	-2.6%
CHTR	Buy	CHARTER COMMUNICATIONS INC Dcl a new	$1,151,863,000	+25.1%	6,550,257	+21.8%	4.69%	+36.2%
JD	Buy	JD COM INCspon adr cl a	$1,133,506,000	-20.6%	43,495,999	+3.8%	4.62%	-13.6%
MSFT	Sell	MICROSOFT CORP	$1,121,505,000	-4.5%	25,339,024	-4.7%	4.57%	+4.0%
AMZN	New	AMAZON COM INC	$991,532,000	–	1,937,002	–	4.04%	–
FB	Buy	FACEBOOK INCcl a	$962,133,000	+14.9%	10,702,259	+9.6%	3.92%	+25.1%
FLT	Buy	FLEETCOR TECHNOLOGIES INC	$885,475,000	+3.6%	6,434,203	+17.4%	3.61%	+12.7%
MA	Sell	MASTERCARD INCcl a	$751,952,000	-17.3%	8,343,895	-14.2%	3.06%	-10.0%
EQIX	Sell	EQUINIX INC	$724,722,000	-5.1%	2,650,775	-11.8%	2.95%	+3.3%
AGN	Buy	ALLERGAN PLC	$708,787,000	+1.6%	2,607,655	+13.5%	2.89%	+10.7%
NKE	Sell	NIKE INCcl b	$701,034,000	-9.3%	5,700,855	-20.3%	2.86%	-1.3%
V	Buy	VISA INC	$680,541,000	+13.9%	9,769,463	+9.8%	2.77%	+24.0%
WMB	Buy	WILLIAMS COS INC DEL	$651,332,000	-18.6%	17,675,229	+26.8%	2.65%	-11.4%
ILMN	Sell	ILLUMINA INC	$634,664,000	-48.8%	3,609,735	-36.4%	2.58%	-44.3%
EA	Buy	ELECTRONIC ARTS INC	$595,022,000	+1026.3%	8,782,612	+1005.5%	2.42%	+1123.7%
LNG	Buy	CHENIERE ENERGY INC	$591,278,000	+7.5%	12,241,775	+54.1%	2.41%	+17.0%
STZ	New	CONSTELLATION BRANDS INCcl a	$586,510,000	–	4,684,214	–	2.39%	–
DVA	Buy	DAVITA HEALTHCARE PARTNERS I	$572,781,000	+32.1%	7,918,998	+45.1%	2.33%	+43.8%
WBA	Buy	WALGREENS BOOTS ALLIANCE INC	$564,068,000	+28.5%	6,787,816	+30.6%	2.30%	+39.9%
ULTA	Buy	ULTA SALON COSMETCS & FRAG I	$535,201,000	+48.2%	3,276,408	+40.2%	2.18%	+61.4%
ADBE	Sell	ADOBE SYS INC	$510,522,000	-32.0%	6,209,219	-33.0%	2.08%	-26.0%
SCHW	Buy	SCHWAB CHARLES CORP NEW	$382,594,000	+1465.5%	13,396,145	+1689.7%	1.56%	+1612.1%
MHK	Buy	MOHAWK INDS INC	$358,390,000	-4.1%	1,971,450	+0.7%	1.46%	+4.4%
DLTR	New	DOLLAR TREE INC	$342,592,000	–	5,139,395	–	1.40%	–
HDB	Buy	HDFC BANK LTD	$326,788,000	+168.0%	5,349,293	+165.5%	1.33%	+191.9%
AXP	New	AMERICAN EXPRESS COcall	$318,759,000	–	4,300,000	–	1.30%	–
HZNP	Buy	HORIZON PHARMA PLC	$309,212,000	+177.7%	15,600,988	+386.8%	1.26%	+201.9%
SBAC	Sell	SBA COMMUNICATIONS CORP	$293,456,000	-44.3%	2,801,753	-38.9%	1.20%	-39.4%
MBBYF	New	MOBILEYE N V AMSTELVEEN	$290,802,000	–	6,394,066	–	1.18%	–
ATVI	New	ACTIVISION BLIZZARD INC	$287,084,000	–	9,293,749	–	1.17%	–
VMC	Sell	VULCAN MATLS CO	$285,609,000	-1.7%	3,201,896	-7.5%	1.16%	+7.0%
ENDP	Buy	ENDO INTL PLC	$267,396,000	-6.0%	3,859,641	+8.1%	1.09%	+2.3%
FNF	Sell	FIDELITY NATIONAL FINANCIAL	$230,985,000	-35.4%	6,512,113	-32.7%	0.94%	-29.7%
HBI	Buy	HANESBRANDS INC	$222,539,000	-12.0%	7,689,684	+1.3%	0.91%	-4.2%
TAP	New	MOLSON COORS BREWING COcl b	$161,441,000	–	1,944,601	–	0.66%	–
ANET	Buy	ARISTA NETWORKS INC	$133,145,000	-14.1%	2,175,925	+14.8%	0.54%	-6.6%
EXPE	New	EXPEDIA INC DEL	$128,774,000	–	1,094,269	–	0.52%	–
KSU	Buy	KANSAS CITY SOUTHERN	$127,094,000	+502.7%	1,398,480	+504.8%	0.52%	+555.7%
GRA	Buy	GRACE W R & CO DEL NEW	$125,739,000	+3.9%	1,351,301	+12.0%	0.51%	+13.0%
FNF	Sell	FIDELITY NATIONAL FINANCIALcall	$67,925,000	-8.9%	1,915,000	-5.0%	0.28%	-0.7%
SHLDQ	Sell	SEARS HLDGS CORPput	$45,426,000	-21.3%	2,010,000	-7.1%	0.18%	-14.4%
RLGY	Sell	REALOGY HLDGS CORP	$36,847,000	-92.4%	979,197	-90.6%	0.15%	-91.8%
CSX	Sell	CSX CORPcall	$35,809,000	-60.3%	1,331,200	-51.8%	0.15%	-56.7%
MSFT	Sell	MICROSOFT CORPcall	$34,328,000	-72.5%	775,600	-72.6%	0.14%	-70.0%
DEO	New	DIAGEO P L Cspon adr new	$108,000	–	1,000	–	0.00%	–
AXP	New	AMERICAN EXPRESS CO	$74,000	–	1,000	–	0.00%	–
CSX	Exit	CSX CORP	$0	–	-2,088,300	–	-0.26%	–
PRGO	Exit	PERRIGO CO PLC	$0	–	-375,924	–	-0.26%	–
LMCA	Exit	LIBERTY MEDIA CORP DELAWAREcl a	$0	–	-3,013,061	–	-0.41%	–
SWI	Exit	SOLARWINDS INC	$0	–	-2,518,528	–	-0.44%	–
MTG	Exit	MGIC INVT CORP WIS	$0	–	-12,403,003	–	-0.53%	–
LMCK	Exit	LIBERTY MEDIA CORP DELAWARE	$0	–	-4,571,191	–	-0.61%	–
WMB	Exit	WILLIAMS COS INC DELcall	$0	–	-3,285,900	–	-0.71%	–
AAP	Exit	ADVANCE AUTO PARTS INC	$0	–	-1,217,455	–	-0.73%	–
SUNEQ	Exit	SUNEDISON INC	$0	–	-9,663,802	–	-1.08%	–
ADSK	Exit	AUTODESK INC	$0	–	-6,158,948	–	-1.15%	–
MHFI	Exit	MCGRAW HILL FINL INC	$0	–	-3,625,834	–	-1.36%	–
HCA	Exit	HCA HOLDING INC	$0	–	-5,007,242	–	-1.70%	–
LOW	Exit	LOWES COS INC	$0	–	-7,053,887	–	-1.77%	–
FXE	Exit	CURRENCYSHARES EURO TRput	$0	–	-20,000,000	–	-8.19%	–

Q2 2015

			Value		Shares		↓ Weighting
FXE	New	CURRENCYSHARES EURO TRput	$2,189,200,000	–	20,000,000	–	8.19%	–
JD	New	JD COM INCspon adr cl a	$1,428,468,000	–	41,890,558	–	5.34%	–
PCLN	New	PRICELINE GRP INC	$1,372,196,000	–	1,191,794	–	5.13%	–
ILMN	New	ILLUMINA INC	$1,239,965,000	–	5,678,537	–	4.64%	–
VRX	New	VALEANT PHARMACEUTICALS INTL	$1,179,648,000	–	5,310,143	–	4.41%	–
MSFT	New	MICROSOFT CORP	$1,174,325,000	–	26,598,524	–	4.39%	–
CHTR	New	CHARTER COMMUNICATIONS INC Dcl a new	$920,865,000	–	5,377,312	–	3.44%	–
MA	New	MASTERCARD INCcl a	$909,246,000	–	9,726,632	–	3.40%	–
FLT	New	FLEETCOR TECHNOLOGIES INC	$854,993,000	–	5,478,615	–	3.20%	–
FB	New	FACEBOOK INCcl a	$837,214,000	–	9,761,722	–	3.13%	–
WMB	New	WILLIAMS COS INC DEL	$800,197,000	–	13,943,148	–	2.99%	–
NKE	New	NIKE INCcl b	$772,976,000	–	7,155,860	–	2.89%	–
EQIX	New	EQUINIX INC	$763,510,000	–	3,005,944	–	2.86%	–
ADBE	New	ADOBE SYS INC	$750,512,000	–	9,264,439	–	2.81%	–
AGN	New	ALLERGAN PLC	$697,341,000	–	2,297,966	–	2.61%	–
V	New	VISA INC	$597,671,000	–	8,900,538	–	2.24%	–
LNG	New	CHENIERE ENERGY INC	$550,168,000	–	7,943,511	–	2.06%	–
UVXY	New	PROSHARES TR IIput	$527,520,000	–	12,000,000	–	1.97%	–
SBAC	New	SBA COMMUNICATIONS CORP	$527,061,000	–	4,584,339	–	1.97%	–
CHTR	New	CHARTER COMMUNICATIONS INC Dcall	$522,313,000	–	3,050,000	–	1.95%	–
TDG	New	TRANSDIGM GROUP INC	$497,739,000	–	2,215,423	–	1.86%	–
RLGY	New	REALOGY HLDGS CORP	$486,191,000	–	10,406,478	–	1.82%	–
LOW	New	LOWES COS INC	$472,399,000	–	7,053,887	–	1.77%	–
HCA	New	HCA HOLDING INC	$454,257,000	–	5,007,242	–	1.70%	–
WBA	New	WALGREENS BOOTS ALLIANCE INC	$438,936,000	–	5,198,204	–	1.64%	–
DVA	New	DAVITA HEALTHCARE PARTNERS I	$433,570,000	–	5,455,774	–	1.62%	–
MHK	New	MOHAWK INDS INC	$373,890,000	–	1,958,565	–	1.40%	–
MHFI	New	MCGRAW HILL FINL INC	$364,215,000	–	3,625,834	–	1.36%	–
ULTA	New	ULTA SALON COSMETCS & FRAG I	$361,053,000	–	2,337,670	–	1.35%	–
FNF	New	FIDELITY NATIONAL FINANCIAL	$357,793,000	–	9,672,695	–	1.34%	–
DEO	New	DIAGEO P L Ccall	$330,714,000	–	2,850,000	–	1.24%	–
ADSK	New	AUTODESK INC	$308,409,000	–	6,158,948	–	1.15%	–
VMC	New	VULCAN MATLS CO	$290,406,000	–	3,460,099	–	1.09%	–
SUNEQ	New	SUNEDISON INC	$289,044,000	–	9,663,802	–	1.08%	–
ENDP	New	ENDO INTL PLC	$284,360,000	–	3,570,117	–	1.06%	–
HBI	New	HANESBRANDS INC	$252,836,000	–	7,588,105	–	0.95%	–
AAP	New	ADVANCE AUTO PARTS INC	$193,928,000	–	1,217,455	–	0.73%	–
WMB	New	WILLIAMS COS INC DELcall	$188,578,000	–	3,285,900	–	0.71%	–
LMCK	New	LIBERTY MEDIA CORP DELAWARE	$164,106,000	–	4,571,191	–	0.61%	–
ANET	New	ARISTA NETWORKS INC	$154,973,000	–	1,895,925	–	0.58%	–
MTG	New	MGIC INVT CORP WIS	$141,146,000	–	12,403,003	–	0.53%	–
MSFT	New	MICROSOFT CORPcall	$124,892,000	–	2,828,800	–	0.47%	–
HDB	New	HDFC BANK LTD	$121,945,000	–	2,014,620	–	0.46%	–
GRA	New	GRACE W R & CO DEL NEW	$121,042,000	–	1,206,801	–	0.45%	–
SWI	New	SOLARWINDS INC	$116,180,000	–	2,518,528	–	0.44%	–
HZNP	New	HORIZON PHARMA PLC	$111,341,000	–	3,204,972	–	0.42%	–
VXX	New	BARCLAYS BK PLCput	$110,550,000	–	5,500,000	–	0.41%	–
LMCA	New	LIBERTY MEDIA CORP DELAWAREcl a	$108,591,000	–	3,013,061	–	0.41%	–
CSX	New	CSX CORPcall	$90,114,000	–	2,760,000	–	0.34%	–
FNF	New	FIDELITY NATIONAL FINANCIALcall	$74,535,000	–	2,015,000	–	0.28%	–
PRGO	New	PERRIGO CO PLC	$69,482,000	–	375,924	–	0.26%	–
CSX	New	CSX CORP	$68,183,000	–	2,088,300	–	0.26%	–
SHLDQ	New	SEARS HLDGS CORPput	$57,755,000	–	2,163,100	–	0.22%	–
EA	New	ELECTRONIC ARTS INC	$52,830,000	–	794,440	–	0.20%	–
SCHW	New	SCHWAB CHARLES CORP NEW	$24,439,000	–	748,520	–	0.09%	–
KSU	New	KANSAS CITY SOUTHERN	$21,087,000	–	231,220	–	0.08%	–

Q4 2014

			Value		Shares		↓ Weighting
ICE	Exit	INTERCONTINENTAL EXCHANGE INcall	$0	–	-240,000	–	-0.18%	–
ANET	Exit	ARISTA NETWORKS INC	$0	–	-722,282	–	-0.25%	–
SHLDQ	Exit	SEARS HLDGS CORPput	$0	–	-2,987,500	–	-0.27%	–
GPS	Exit	GAP INC DELcall	$0	–	-1,741,200	–	-0.28%	–
INTC	Exit	INTEL CORPput	$0	–	-2,320,000	–	-0.32%	–
CMCSA	Exit	COMCAST CORP NEWcall	$0	–	-1,830,000	–	-0.38%	–
TWX	Exit	TIME WARNER INC	$0	–	-1,716,105	–	-0.50%	–
LBTYK	Exit	LIBERTY GLOBAL PLC	$0	–	-4,460,630	–	-0.72%	–
VXX	Exit	BARCLAYS BK PLCput	$0	–	-6,300,000	–	-0.77%	–
ADSK	Exit	AUTODESK INC	$0	–	-4,401,445	–	-0.95%	–
TRIP	Exit	TRIPADVISOR INC	$0	–	-2,771,438	–	-0.99%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-1,314,968	–	-1.00%	–
SWI	Exit	SOLARWINDS INC	$0	–	-6,516,396	–	-1.07%	–
HUM	Exit	HUMANA INC	$0	–	-2,174,122	–	-1.11%	–
JAZZ	Exit	JAZZ PHARMACEUTICALS PLC	$0	–	-1,788,607	–	-1.12%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-3,516,060	–	-1.13%	–
WSM	Exit	WILLIAMS SONOMA INC	$0	–	-4,390,577	–	-1.14%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-4,262,432	–	-1.15%	–
ABBV	Exit	ABBVIE INC	$0	–	-5,247,201	–	-1.18%	–
UAA	Exit	UNDER ARMOUR INCcl a	$0	–	-4,518,470	–	-1.22%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-1,786,836	–	-1.29%	–
LPLA	Exit	LPL FINL HLDGS INC	$0	–	-8,518,366	–	-1.53%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-3,090,081	–	-1.63%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Dcl a new	$0	–	-3,105,814	–	-1.84%	–
RLGY	Exit	REALOGY HLDGS CORP	$0	–	-13,652,898	–	-1.98%	–
WYNN	Exit	WYNN RESORTS LTD	$0	–	-2,804,989	–	-2.05%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-6,906,909	–	-2.16%	–
EQIX	Exit	EQUINIX INC	$0	–	-2,649,060	–	-2.20%	–
DG	Exit	DOLLAR GEN CORP NEW	$0	–	-9,305,845	–	-2.22%	–
B108PS	Exit	ACTAVIS PLC	$0	–	-2,478,628	–	-2.34%	–
ULTA	Exit	ULTA SALON COSMETCS & FRAG I	$0	–	-5,202,611	–	-2.40%	–
CCI	Exit	CROWN CASTLE INTL CORP	$0	–	-7,845,871	–	-2.47%	–
TIF	Exit	TIFFANY & CO NEW	$0	–	-6,852,021	–	-2.58%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-8,638,513	–	-2.67%	–
CP	Exit	CANADIAN PAC RY LTD	$0	–	-3,507,664	–	-2.84%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-13,772,459	–	-2.89%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-11,467,010	–	-3.10%	–
GPS	Exit	GAP INC DEL	$0	–	-19,265,265	–	-3.14%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-18,068,688	–	-3.16%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-729,265	–	-3.30%	–
MHFI	Exit	MCGRAW HILL FINL INC	$0	–	-10,833,547	–	-3.58%	–
FLT	Exit	FLEETCOR TECHNOLOGIES INC	$0	–	-6,589,236	–	-3.66%	–
SBAC	Exit	SBA COMMUNICATIONS CORP	$0	–	-8,670,738	–	-3.76%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-22,335,690	–	-4.05%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-15,082,787	–	-4.36%	–
KORS	Exit	MICHAEL KORS HLDGS LTD	$0	–	-15,954,399	–	-4.45%	–
VRX	Exit	VALEANT PHARMACEUTICALS INTL	$0	–	-10,985,940	–	-5.63%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-8,188,393	–	-6.98%	–

Q3 2014

			Value		Shares		↓ Weighting
BIDU	Sell	BAIDU INCspon adr rep a	$1,786,953,000	+7.2%	8,188,393	-8.2%	6.98%	+3.6%
VRX	Buy	VALEANT PHARMACEUTICALS INTL	$1,441,355,000	+13.3%	10,985,940	+8.9%	5.63%	+9.5%
KORS	Buy	MICHAEL KORS HLDGS LTD	$1,138,985,000	+11.5%	15,954,399	+38.4%	4.45%	+7.7%
MA	Buy	MASTERCARD INCcl a	$1,114,920,000	+29.0%	15,082,787	+28.2%	4.36%	+24.6%
MSFT	Sell	MICROSOFT CORP	$1,035,483,000	-5.8%	22,335,690	-15.2%	4.05%	-8.9%
SBAC	Sell	SBA COMMUNICATIONS CORP	$961,585,000	+8.0%	8,670,738	-0.3%	3.76%	+4.4%
FLT	Buy	FLEETCOR TECHNOLOGIES INC	$936,462,000	+17.7%	6,589,236	+9.1%	3.66%	+13.7%
MHFI	Sell	MCGRAW HILL FINL INC	$914,893,000	-11.9%	10,833,547	-13.4%	3.58%	-14.8%
PCLN	Buy	PRICELINE GRP INC	$844,912,000	+1.5%	729,265	+5.4%	3.30%	-1.8%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIOcl a	$808,935,000	-44.0%	18,068,688	-38.8%	3.16%	-45.8%
ADBE	Sell	ADOBE SYS INC	$793,402,000	-7.8%	11,467,010	-3.6%	3.10%	-10.9%
CMCSA	Buy	COMCAST CORP NEWcl a	$740,683,000	+13.6%	13,772,459	+13.3%	2.89%	+9.7%
CP	Sell	CANADIAN PAC RY LTD	$727,735,000	+14.5%	3,507,664	-0.0%	2.84%	+10.7%
FB	New	FACEBOOK INCcl a	$682,788,000	–	8,638,513	–	2.67%	–
TIF	Buy	TIFFANY & CO NEW	$659,918,000	+55.3%	6,852,021	+61.6%	2.58%	+50.1%
CCI	Sell	CROWN CASTLE INTL CORP	$631,828,000	+1.0%	7,845,871	-6.9%	2.47%	-2.4%
DG	Buy	DOLLAR GEN CORP NEW	$568,680,000	+39.5%	9,305,845	+30.9%	2.22%	+34.8%
EQIX	Buy	EQUINIX INC	$562,872,000	+16.5%	2,649,060	+15.2%	2.20%	+12.6%
LNG	Buy	CHENIERE ENERGY INC	$552,760,000	+1258.2%	6,906,909	+1116.9%	2.16%	+1209.1%
WYNN	Buy	WYNN RESORTS LTD	$524,757,000	+22.1%	2,804,989	+35.4%	2.05%	+18.0%
CHTR	New	CHARTER COMMUNICATIONS INC Dcl a new	$470,127,000	–	3,105,814	–	1.84%	–
MHK	New	MOHAWK INDS INC	$416,605,000	–	3,090,081	–	1.63%	–
TDG	Buy	TRANSDIGM GROUP INC	$329,367,000	+101.1%	1,786,836	+82.4%	1.29%	+94.4%
UAA	Sell	UNDER ARMOUR INCcl a	$312,226,000	+10.5%	4,518,470	-4.9%	1.22%	+6.8%
ABBV	New	ABBVIE INC	$303,078,000	–	5,247,201	–	1.18%	–
SAVE	Buy	SPIRIT AIRLS INC	$294,705,000	+33.1%	4,262,432	+21.8%	1.15%	+28.7%
WSM	Buy	WILLIAMS SONOMA INC	$292,281,000	+174.5%	4,390,577	+196.0%	1.14%	+165.6%
JAZZ	Sell	JAZZ PHARMACEUTICALS PLC	$287,179,000	-6.4%	1,788,607	-14.3%	1.12%	-9.5%
HUM	New	HUMANA INC	$283,266,000	–	2,174,122	–	1.11%	–
ICE	Sell	INTERCONTINENTAL EXCHANGE IN	$256,485,000	-60.1%	1,314,968	-61.4%	1.00%	-61.4%
TRIP	Buy	TRIPADVISOR INC	$253,365,000	+113.1%	2,771,438	+153.3%	0.99%	+105.8%
ADSK	New	AUTODESK INC	$242,520,000	–	4,401,445	–	0.95%	–
LBTYK	Sell	LIBERTY GLOBAL PLC	$182,953,000	-72.6%	4,460,630	-71.8%	0.72%	-73.5%
TWX	New	TIME WARNER INC	$129,068,000	–	1,716,105	–	0.50%	–
SHLDQ	Buy	SEARS HLDGS CORPput	$70,113,000	-29.9%	2,987,500	+19.3%	0.27%	-32.3%
ANET	Buy	ARISTA NETWORKS INC	$63,799,000	+93.3%	722,282	+36.5%	0.25%	+87.2%
ICE	New	INTERCONTINENTAL EXCHANGE INcall	$46,812,000	–	240,000	–	0.18%	–
IBN	Exit	ICICI BK LTDadr	$0	–	-659,729	–	-0.13%	–
MSFT	Exit	MICROSOFT CORPcall	$0	–	-1,400,000	–	-0.24%	–
CTRP	Exit	CTRIP COM INTL LTD	$0	–	-1,158,913	–	-0.30%	–
AAL	Exit	AMERICAN AIRLS GROUP INC	$0	–	-2,684,674	–	-0.47%	–
BIDU	Exit	BAIDU INCcall	$0	–	-780,000	–	-0.59%	–
LL	Exit	LUMBER LIQUIDATORS HLDGS INC	$0	–	-2,619,839	–	-0.80%	–
JD	Exit	JD COM INCspon adr cl a	$0	–	-8,405,200	–	-0.97%	–
SFUN	Exit	SOUFUN HLDGS LTDadr	$0	–	-25,361,965	–	-1.00%	–
WMB	Exit	WILLIAMS COS INC DEL	$0	–	-4,895,000	–	-1.15%	–
LBTYA	Exit	LIBERTY GLOBAL PLC	$0	–	-6,519,720	–	-1.16%	–
OII	Exit	OCEANEERING INTL INC	$0	–	-3,809,894	–	-1.20%	–
AN	Exit	AUTONATION INC	$0	–	-5,067,310	–	-1.22%	–
FOXA	Exit	TWENTY FIRST CENTY FOX INCcl a	$0	–	-16,045,522	–	-2.28%	–

Q2 2014

			Value		Shares		↓ Weighting
BIDU	New	BAIDU INCspon adr rep a	$1,666,979,000	–	8,923,393	–	6.74%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$1,443,326,000	–	29,509,835	–	5.83%	–
VRX	New	VALEANT PHARMACEUTICALS INTL	$1,272,481,000	–	10,089,450	–	5.14%	–
MSFT	New	MICROSOFT CORP	$1,098,678,000	–	26,347,204	–	4.44%	–
MHFI	New	MCGRAW HILL FINL INC	$1,038,170,000	–	12,503,547	–	4.20%	–
KORS	New	MICHAEL KORS HLDGS LTD	$1,021,735,000	–	11,525,497	–	4.13%	–
SBAC	New	SBA COMMUNICATIONS CORP	$890,085,000	–	8,700,738	–	3.60%	–
MA	New	MASTERCARD INCcl a	$864,471,000	–	11,766,312	–	3.50%	–
ADBE	New	ADOBE SYS INC	$860,323,000	–	11,889,484	–	3.48%	–
PCLN	New	PRICELINE GRP INC	$832,050,000	–	691,646	–	3.36%	–
GPS	New	GAP INC DEL	$800,857,000	–	19,265,265	–	3.24%	–
FLT	New	FLEETCOR TECHNOLOGIES INC	$795,890,000	–	6,038,616	–	3.22%	–
LBTYK	New	LIBERTY GLOBAL PLC	$668,774,000	–	15,806,512	–	2.70%	–
CMCSA	New	COMCAST CORP NEWcl a	$652,281,000	–	12,151,289	–	2.64%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$642,961,000	–	3,403,713	–	2.60%	–
CP	New	CANADIAN PAC RY LTD	$635,669,000	–	3,509,269	–	2.57%	–
CCI	New	CROWN CASTLE INTL CORP	$625,646,000	–	8,425,071	–	2.53%	–
FOXA	New	TWENTY FIRST CENTY FOX INCcl a	$564,000,000	–	16,045,522	–	2.28%	–
B108PS	New	ACTAVIS PLC	$552,858,000	–	2,478,628	–	2.24%	–
RLGY	New	REALOGY HLDGS CORP	$514,851,000	–	13,652,898	–	2.08%	–
EQIX	New	EQUINIX INC	$483,042,000	–	2,299,216	–	1.95%	–
ULTA	New	ULTA SALON COSMETCS & FRAG I	$475,571,000	–	5,202,611	–	1.92%	–
WYNN	New	WYNN RESORTS LTD	$429,868,000	–	2,071,053	–	1.74%	–
TIF	New	TIFFANY & CO NEW	$424,947,000	–	4,238,872	–	1.72%	–
LPLA	New	LPL FINL HLDGS INC	$423,704,000	–	8,518,366	–	1.71%	–
DG	New	DOLLAR GEN CORP NEW	$407,792,000	–	7,109,343	–	1.65%	–
WDAY	New	WORKDAY INCcl a	$315,953,000	–	3,516,060	–	1.28%	–
JAZZ	New	JAZZ PHARMACEUTICALS PLC	$306,829,000	–	2,087,127	–	1.24%	–
AN	New	AUTONATION INC	$302,417,000	–	5,067,310	–	1.22%	–
OII	New	OCEANEERING INTL INC	$297,667,000	–	3,809,894	–	1.20%	–
LBTYA	New	LIBERTY GLOBAL PLC	$288,302,000	–	6,519,720	–	1.16%	–
WMB	New	WILLIAMS COS INC DEL	$284,938,000	–	4,895,000	–	1.15%	–
UAA	New	UNDER ARMOUR INCcl a	$282,516,000	–	4,748,964	–	1.14%	–
SWI	New	SOLARWINDS INC	$251,924,000	–	6,516,396	–	1.02%	–
SFUN	New	SOUFUN HLDGS LTDadr	$248,294,000	–	25,361,965	–	1.00%	–
JD	New	JD COM INCspon adr cl a	$239,632,000	–	8,405,200	–	0.97%	–
SAVE	New	SPIRIT AIRLS INC	$221,388,000	–	3,500,760	–	0.90%	–
LL	New	LUMBER LIQUIDATORS HLDGS INC	$198,977,000	–	2,619,839	–	0.80%	–
VXX	New	BARCLAYS BK PLCput	$180,180,000	–	6,300,000	–	0.73%	–
TDG	New	TRANSDIGM GROUP INC	$163,814,000	–	979,395	–	0.66%	–
BIDU	New	BAIDU INCcall	$145,712,000	–	780,000	–	0.59%	–
TRIP	New	TRIPADVISOR INC	$118,883,000	–	1,094,087	–	0.48%	–
AAL	New	AMERICAN AIRLS GROUP INC	$115,334,000	–	2,684,674	–	0.47%	–
WSM	New	WILLIAMS SONOMA INC	$106,463,000	–	1,483,179	–	0.43%	–
SHLDQ	New	SEARS HLDGS CORPput	$100,076,000	–	2,504,400	–	0.40%	–
CMCSA	New	COMCAST CORP NEWcall	$98,234,000	–	1,830,000	–	0.40%	–
CTRP	New	CTRIP COM INTL LTD	$74,217,000	–	1,158,913	–	0.30%	–
GPS	New	GAP INC DELcall	$72,382,000	–	1,741,200	–	0.29%	–
INTC	New	INTEL CORPput	$71,688,000	–	2,320,000	–	0.29%	–
MSFT	New	MICROSOFT CORPcall	$58,380,000	–	1,400,000	–	0.24%	–
LNG	New	CHENIERE ENERGY INC	$40,697,000	–	567,600	–	0.16%	–
IBN	New	ICICI BK LTDadr	$32,920,000	–	659,729	–	0.13%	–
ANET	New	ARISTA NETWORKS INC	$33,012,000	–	529,120	–	0.13%	–

Q4 2013

			Value		Shares		↓ Weighting
BB	Exit	BLACKBERRY LTDput	$0	–	-25,000	–	-0.00%	–
CP	Exit	CANADIAN PAC RY LTD	$0	–	-161,132	–	-0.09%	–
SEAS	Exit	SEAWORLD ENTMT INC	$0	–	-1,736,193	–	-0.23%	–
HRB	Exit	BLOCK H & R INC	$0	–	-2,303,844	–	-0.27%	–
LOW	Exit	LOWES COS INC	$0	–	-2,114,588	–	-0.45%	–
ASML	Exit	ASML HOLDING N V	$0	–	-1,032,466	–	-0.46%	–
AXP	Exit	AMERICAN EXPRESS COcall	$0	–	-1,670,000	–	-0.56%	–
GRFS	Exit	GRIFOLS S Asp adr rep b nvt	$0	–	-4,453,500	–	-0.60%	–
SHLDQ	Exit	SEARS HLDGS CORPput	$0	–	-2,273,500	–	-0.60%	–
CME	Exit	CME GROUP INCcall	$0	–	-2,000,000	–	-0.66%	–
QCOM	Exit	QUALCOMM INCcall	$0	–	-2,297,000	–	-0.69%	–
SWI	Exit	SOLARWINDS INC	$0	–	-5,701,473	–	-0.89%	–
VXX	Exit	BARCLAYS BK PLCput	$0	–	-3,690,000	–	-0.97%	–
SEMG	Exit	SEMGROUP CORPcl a	$0	–	-3,906,318	–	-1.00%	–
LMCA	Exit	LIBERTY MEDIA CORP DELAWAREcl a	$0	–	-1,611,640	–	-1.06%	–
V	Exit	VISA INC	$0	–	-1,243,515	–	-1.06%	–
AMZN	Exit	AMAZON COM INC	$0	–	-773,737	–	-1.08%	–
VRSN	Exit	VERISIGN INC	$0	–	-4,888,630	–	-1.11%	–
OII	Exit	OCEANEERING INTL INC	$0	–	-3,069,498	–	-1.11%	–
P	Exit	PANDORA MEDIA INC	$0	–	-10,085,216	–	-1.13%	–
DSW	Exit	DSW INCcl a	$0	–	-2,978,721	–	-1.14%	–
LBTYA	Exit	LIBERTY GLOBAL PLC	$0	–	-3,203,911	–	-1.14%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Dcl a new	$0	–	-1,951,452	–	-1.17%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-3,522,285	–	-1.27%	–
OCN	Exit	OCWEN FINL CORP	$0	–	-5,277,270	–	-1.31%	–
LBTYK	Exit	LIBERTY GLOBAL PLC	$0	–	-3,963,935	–	-1.34%	–
UNG	Exit	UNITED STATES NATL GAS FUNDput	$0	–	-16,500,000	–	-1.35%	–
WYND	Exit	WYNDHAM WORLDWIDE CORP	$0	–	-5,706,191	–	-1.55%	–
BEAV	Exit	B/E AEROSPACE INC	$0	–	-4,741,593	–	-1.56%	–
COH	Exit	COACH INC	$0	–	-6,481,247	–	-1.58%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-2,556,210	–	-1.58%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-407,784	–	-1.60%	–
DVA	Exit	DAVITA HEALTHCARE PARTNERS I	$0	–	-6,302,027	–	-1.60%	–
KMIWS	Exit	KINDER MORGAN INC DEL*w exp 05/25/201	$0	–	-72,279,395	–	-1.60%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-7,635,995	–	-1.71%	–
KMI	Exit	KINDER MORGAN INC DEL	$0	–	-10,913,487	–	-1.73%	–
EQIX	Exit	EQUINIX INC	$0	–	-2,167,116	–	-1.78%	–
CME	Exit	CME GROUP INC	$0	–	-5,623,300	–	-1.86%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-7,648,196	–	-1.95%	–
CCI	Exit	CROWN CASTLE INTL CORP	$0	–	-6,340,454	–	-2.07%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-700,604	–	-2.10%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-6,244,519	–	-2.11%	–
MJN	Exit	MEAD JOHNSON NUTRITION CO	$0	–	-6,629,859	–	-2.20%	–
FLT	Exit	FLEETCOR TECHNOLOGIES INC	$0	–	-4,562,496	–	-2.24%	–
RLGY	Exit	REALOGY HLDGS CORP	$0	–	-12,003,398	–	-2.31%	–
ULTA	Exit	ULTA SALON COSMETCS & FRAG I	$0	–	-4,737,930	–	-2.53%	–
EBAY	Exit	EBAY INC	$0	–	-10,922,795	–	-2.72%	–
FOXA	Exit	TWENTY FIRST CENTY FOX INCcl a	$0	–	-18,700,570	–	-2.80%	–
KORS	Exit	MICHAEL KORS HLDGS LTD	$0	–	-9,583,229	–	-3.19%	–
VRX	Exit	VALEANT PHARMACEUTICALS INTL	$0	–	-7,781,707	–	-3.62%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-5,289,262	–	-3.66%	–
QCOM	Exit	QUALCOMM INC	$0	–	-13,329,083	–	-4.01%	–
GPS	Exit	GAP INC DEL	$0	–	-22,305,225	–	-4.01%	–
MON	Exit	MONSANTO CO NEW	$0	–	-9,354,853	–	-4.36%	–
PCLN	Exit	PRICELINE COM INC	$0	–	-969,568	–	-4.38%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-11,956,751	–	-4.38%	–
DG	Exit	DOLLAR GEN CORP NEW	$0	–	-17,684,604	–	-4.46%	–

Q3 2013

			Value		Shares		↓ Weighting
DG	Buy	DOLLAR GEN CORP NEW	$998,473,000	+45.0%	17,684,604	+29.5%	4.46%	+32.9%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIOcl a	$981,888,000	+18.4%	11,956,751	-9.7%	4.38%	+8.5%
PCLN	Sell	PRICELINE COM INC	$980,185,000	-31.0%	969,568	-43.6%	4.38%	-36.7%
MON	Buy	MONSANTO CO NEW	$976,366,000	+59.2%	9,354,853	+50.7%	4.36%	+46.0%
GPS	Buy	GAP INC DEL	$898,454,000	+12.4%	22,305,225	+16.4%	4.01%	+3.1%
QCOM	Buy	QUALCOMM INC	$897,314,000	+57.7%	13,329,083	+43.1%	4.01%	+44.6%
BIDU	New	BAIDU INCspon adr rep a	$820,788,000	–	5,289,262	–	3.66%	–
VRX	Sell	VALEANT PHARMACEUTICALS INTL	$811,865,000	+17.7%	7,781,707	-2.9%	3.62%	+7.9%
KORS	Buy	MICHAEL KORS HLDGS LTD	$714,142,000	+29.0%	9,583,229	+7.4%	3.19%	+18.3%
FOXA	New	TWENTY FIRST CENTY FOX INCcl a	$626,656,000	–	18,700,570	–	2.80%	–
EBAY	Sell	EBAY INC	$609,437,000	-24.1%	10,922,795	-29.6%	2.72%	-30.4%
ULTA	Sell	ULTA SALON COSMETCS & FRAG I	$565,993,000	+10.4%	4,737,930	-7.5%	2.53%	+1.2%
RLGY	Buy	REALOGY HLDGS CORP	$516,386,000	+36.1%	12,003,398	+51.9%	2.31%	+24.8%
FLT	Sell	FLEETCOR TECHNOLOGIES INC	$502,605,000	+15.5%	4,562,496	-14.7%	2.24%	+5.9%
MJN	Sell	MEAD JOHNSON NUTRITION CO	$492,333,000	-16.1%	6,629,859	-10.5%	2.20%	-23.1%
AXP	Buy	AMERICAN EXPRESS CO	$471,586,000	+69.6%	6,244,519	+67.9%	2.11%	+55.5%
MA	New	MASTERCARD INCcl a	$471,352,000	–	700,604	–	2.10%	–
CCI	Buy	CROWN CASTLE INTL CORP	$463,043,000	+26.6%	6,340,454	+25.5%	2.07%	+16.1%
DLTR	Sell	DOLLAR TREE INC	$437,171,000	+6.8%	7,648,196	-5.0%	1.95%	-2.1%
CME	Buy	CME GROUP INC	$415,449,000	+40.3%	5,623,300	+44.2%	1.86%	+28.6%
EQIX	Buy	EQUINIX INC	$397,991,000	+3.2%	2,167,116	+3.8%	1.78%	-5.4%
KMI	Sell	KINDER MORGAN INC DEL	$388,193,000	-17.2%	10,913,487	-11.2%	1.73%	-24.1%
FB	Sell	FACEBOOK INCcl a	$383,556,000	+56.3%	7,635,995	-22.6%	1.71%	+43.3%
KMIWS	Buy	KINDER MORGAN INC DEL*w exp 05/25/201	$359,229,000	+7.2%	72,279,395	+10.4%	1.60%	-1.7%
DVA	New	DAVITA HEALTHCARE PARTNERS I	$358,585,000	–	6,302,027	–	1.60%	–
GOOGL	Sell	GOOGLE INCcl a	$357,182,000	-56.9%	407,784	-56.7%	1.60%	-60.5%
COH	Buy	COACH INC	$353,422,000	+5.7%	6,481,247	+10.6%	1.58%	-3.1%
BEAV	Buy	B/E AEROSPACE INC	$350,024,000	+28.7%	4,741,593	+10.0%	1.56%	+18.1%
WYND	Buy	WYNDHAM WORLDWIDE CORP	$347,906,000	+28.1%	5,706,191	+20.2%	1.55%	+17.4%
UNG	New	UNITED STATES NATL GAS FUNDput	$301,620,000	–	16,500,000	–	1.35%	–
LBTYK	Buy	LIBERTY GLOBAL PLC	$299,000,000	+193.5%	3,963,935	+164.1%	1.34%	+169.2%
OCN	Sell	OCWEN FINL CORP	$294,313,000	+31.1%	5,277,270	-3.1%	1.31%	+20.1%
CHTR	Sell	CHARTER COMMUNICATIONS INC Dcl a new	$262,978,000	-42.2%	1,951,452	-46.9%	1.17%	-47.0%
LBTYA	Buy	LIBERTY GLOBAL PLC	$254,230,000	+72.1%	3,203,911	+59.4%	1.14%	+57.9%
DSW	Buy	DSW INCcl a	$254,144,000	+291.9%	2,978,721	+237.5%	1.14%	+259.2%
P	New	PANDORA MEDIA INC	$253,441,000	–	10,085,216	–	1.13%	–
OII	Sell	OCEANEERING INTL INC	$249,366,000	-0.4%	3,069,498	-11.5%	1.11%	-8.7%
VRSN	Sell	VERISIGN INC	$248,782,000	-25.7%	4,888,630	-34.8%	1.11%	-31.9%
AMZN	New	AMAZON COM INC	$241,901,000	–	773,737	–	1.08%	–
V	Sell	VISA INC	$237,636,000	-1.5%	1,243,515	-5.8%	1.06%	-9.7%
LMCA	Sell	LIBERTY MEDIA CORP DELAWAREcl a	$237,153,000	+0.4%	1,611,640	-13.5%	1.06%	-7.9%
SWI	New	SOLARWINDS INC	$199,894,000	–	5,701,473	–	0.89%	–
QCOM	Buy	QUALCOMM INCcall	$154,634,000	+340.2%	2,297,000	+299.5%	0.69%	+303.5%
GRFS	Buy	GRIFOLS S Asp adr rep b nvt	$134,379,000	+7.6%	4,453,500	+0.3%	0.60%	-1.3%
AXP	New	AMERICAN EXPRESS COcall	$126,118,000	–	1,670,000	–	0.56%	–
LOW	New	LOWES COS INC	$100,676,000	–	2,114,588	–	0.45%	–
HRB	Sell	BLOCK H & R INC	$61,420,000	-71.0%	2,303,844	-69.8%	0.27%	-73.4%
SEAS	New	SEAWORLD ENTMT INC	$51,443,000	–	1,736,193	–	0.23%	–
BB	New	BLACKBERRY LTDput	$199,000	–	25,000	–	0.00%	–
QUAD	Exit	QUAD / GRAPHICS INCput	$0	–	-56,800	–	-0.01%	–
ISS	Exit	ISOFTSTONE HLDGS LTDsponsored ads	$0	–	-870,916	–	-0.02%	–
WBC	Exit	WABCO HLDGS INC	$0	–	-1,046,166	–	-0.38%	–
	Exit	AIRGAS INC	$0	–	-902,488	–	-0.42%	–
TRIP	Exit	TRIPADVISOR INC	$0	–	-1,991,854	–	-0.59%	–
JBHT	Exit	HUNT J B TRANS SVCS INC	$0	–	-2,831,614	–	-1.00%	–
SBH	Exit	SALLY BEAUTY HLDGS INC	$0	–	-7,496,661	–	-1.14%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC	$0	–	-2,766,476	–	-1.14%	–
GRA	Exit	GRACE W R & CO DEL NEW	$0	–	-2,868,750	–	-1.17%	–
TSLA	Exit	TESLA MTRS INCput	$0	–	-3,208,000	–	-1.68%	–
HTZ	Exit	HERTZ GLOBAL HOLDINGS INC	$0	–	-17,332,422	–	-2.09%	–
NWSA	Exit	NEWS CORPcl a	$0	–	-13,757,775	–	-2.18%	–
RL	Exit	RALPH LAUREN CORPcl a	$0	–	-2,630,438	–	-2.23%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-1,161,068	–	-2.86%	–

Q2 2013

			Value		Shares		↓ Weighting
PCLN	New	PRICELINE COM INC	$1,420,555,000	–	1,718,406	–	6.92%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$829,286,000	–	13,238,915	–	4.04%	–
GOOGL	New	GOOGLE INCcl a	$829,052,000	–	941,709	–	4.04%	–
EBAY	New	EBAY INC	$802,468,000	–	15,515,623	–	3.91%	–
GPS	New	GAP INC DEL	$799,400,000	–	19,156,482	–	3.89%	–
VRX	New	VALEANT PHARMACEUTICALS INTL	$689,717,000	–	8,012,507	–	3.36%	–
DG	New	DOLLAR GEN CORP NEW	$688,630,000	–	13,655,169	–	3.35%	–
MON	New	MONSANTO CO NEW	$613,278,000	–	6,207,263	–	2.99%	–
ISRG	New	INTUITIVE SURGICAL INC	$587,654,000	–	1,161,068	–	2.86%	–
MJN	New	MEAD JOHNSON NUTRITION CO	$586,915,000	–	7,407,735	–	2.86%	–
QCOM	New	QUALCOMM INC	$569,133,000	–	9,316,298	–	2.77%	–
KORS	New	MICHAEL KORS HLDGS LTD	$553,546,000	–	8,925,275	–	2.70%	–
ULTA	New	ULTA SALON COSMETCS & FRAG I	$512,565,000	–	5,119,504	–	2.50%	–
KMI	New	KINDER MORGAN INC DEL	$468,968,000	–	12,292,738	–	2.28%	–
RL	New	RALPH LAUREN CORPcl a	$457,012,000	–	2,630,438	–	2.23%	–
CHTR	New	CHARTER COMMUNICATIONS INC Dcl a new	$455,133,000	–	3,674,874	–	2.22%	–
NWSA	New	NEWS CORPcl a	$448,228,000	–	13,757,775	–	2.18%	–
FLT	New	FLEETCOR TECHNOLOGIES INC	$434,983,000	–	5,350,347	–	2.12%	–
HTZ	New	HERTZ GLOBAL HOLDINGS INC	$429,844,000	–	17,332,422	–	2.09%	–
DLTR	New	DOLLAR TREE INC	$409,424,000	–	8,053,196	–	1.99%	–
TDG	New	TRANSDIGM GROUP INC	$400,737,000	–	2,556,210	–	1.95%	–
EQIX	New	EQUINIX INC	$385,532,000	–	2,087,116	–	1.88%	–
RLGY	New	REALOGY HLDGS CORP	$379,555,000	–	7,900,805	–	1.85%	–
CCI	New	CROWN CASTLE INTL CORP	$365,725,000	–	5,052,143	–	1.78%	–
TSLA	New	TESLA MTRS INCput	$344,411,000	–	3,208,000	–	1.68%	–
KMIWS	New	KINDER MORGAN INC DEL*w exp 05/25/201	$335,144,000	–	65,457,804	–	1.63%	–
VRSN	New	VERISIGN INC	$334,899,000	–	7,498,853	–	1.63%	–
COH	New	COACH INC	$334,453,000	–	5,858,347	–	1.63%	–
CME	New	CME GROUP INC	$296,135,000	–	3,899,076	–	1.44%	–
AXP	New	AMERICAN EXPRESS CO	$278,096,000	–	3,719,848	–	1.35%	–
BEAV	New	B/E AEROSPACE INC	$271,939,000	–	4,311,013	–	1.32%	–
WYND	New	WYNDHAM WORLDWIDE CORP	$271,617,000	–	4,746,067	–	1.32%	–
OII	New	OCEANEERING INTL INC	$250,380,000	–	3,467,861	–	1.22%	–
FB	New	FACEBOOK INCcl a	$245,432,000	–	9,864,619	–	1.20%	–
V	New	VISA INC	$241,249,000	–	1,320,105	–	1.18%	–
GRA	New	GRACE W R & CO DEL NEW	$241,090,000	–	2,868,750	–	1.17%	–
LMCA	New	LIBERTY MEDIA CORP DELAWAREcl a	$236,144,000	–	1,862,924	–	1.15%	–
TMO	New	THERMO FISHER SCIENTIFIC INC	$234,127,000	–	2,766,476	–	1.14%	–
SBH	New	SALLY BEAUTY HLDGS INC	$233,146,000	–	7,496,661	–	1.14%	–
WDAY	New	WORKDAY INCcl a	$225,743,000	–	3,522,285	–	1.10%	–
OCN	New	OCWEN FINL CORP	$224,577,000	–	5,448,250	–	1.09%	–
HRB	New	BLOCK H & R INC	$211,900,000	–	7,636,044	–	1.03%	–
SEMG	New	SEMGROUP CORPcl a	$210,394,000	–	3,906,318	–	1.02%	–
JBHT	New	HUNT J B TRANS SVCS INC	$204,556,000	–	2,831,614	–	1.00%	–
CME	New	CME GROUP INCcall	$151,900,000	–	2,000,000	–	0.74%	–
LBTYA	New	LIBERTY GLOBAL PLC	$147,695,000	–	2,009,726	–	0.72%	–
GRFS	New	GRIFOLS S Asp adr rep b nvt	$124,884,000	–	4,439,693	–	0.61%	–
TRIP	New	TRIPADVISOR INC	$121,244,000	–	1,991,854	–	0.59%	–
LBTYK	New	LIBERTY GLOBAL PLC	$101,881,000	–	1,500,678	–	0.50%	–
SHLDQ	New	SEARS HLDGS CORPput	$95,669,000	–	2,273,500	–	0.47%	–
	New	AIRGAS INC	$86,152,000	–	902,488	–	0.42%	–
ASML	New	ASML HOLDING N V	$81,678,000	–	1,032,466	–	0.40%	–
WBC	New	WABCO HLDGS INC	$78,138,000	–	1,046,166	–	0.38%	–
VXX	New	BARCLAYS BK PLCput	$76,420,000	–	3,690,000	–	0.37%	–
DSW	New	DSW INCcl a	$64,853,000	–	882,710	–	0.32%	–
QCOM	New	QUALCOMM INCcall	$35,127,000	–	575,000	–	0.17%	–
CP	New	CANADIAN PAC RY LTD	$19,558,000	–	161,132	–	0.10%	–
ISS	New	ISOFTSTONE HLDGS LTDsponsored ads	$4,494,000	–	870,916	–	0.02%	–
QUAD	New	QUAD / GRAPHICS INCput	$1,369,000	–	56,800	–	0.01%	–

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