Rail-Splitter Capital Management, LLC Activity Q4 2005-Q4 2016

Q4 2016

			Value		Shares		↓ Weighting
HDS	Sell	HD Supply Holdings Inc. HDS	$4,475,000	-67.8%	105,258	-75.8%	5.00%	+28.9%
FIS	Sell	Fidelity National Information Services Inc. FIS	$3,779,000	-74.9%	49,960	-74.5%	4.22%	+0.5%
TSS	New	Total System Services Inc. TSS	$3,458,000	–	70,525	–	3.87%	–
MDT	Sell	Medtronic Inc. MDT	$3,290,000	-80.2%	46,186	-76.0%	3.68%	-20.7%
AAPL	New	Apple Inc. AAPL	$3,268,000	–	28,215	–	3.65%	–
UNH	Sell	UnitedHealth Group Incorporated UNH	$3,115,000	-72.2%	19,465	-75.7%	3.48%	+11.2%
BLDR	Sell	Builders FirstSource Inc. BLDR	$3,079,000	-66.1%	280,708	-64.5%	3.44%	+35.7%
DVMT	New	Dell Technologies Inc. Class V DVMT	$3,007,000	–	54,700	–	3.36%	–
PWR	Sell	Quanta Services Inc. PWR	$2,935,000	-74.6%	84,230	-79.6%	3.28%	+1.8%
VWR	Sell	VWR Corp. VWR	$2,905,000	-77.2%	116,065	-74.2%	3.25%	-8.9%
DY	New	Dycom Industries Inc. DY	$2,861,000	–	35,635	–	3.20%	–
JCOM	Sell	j2 Global Inc JCOM	$2,837,000	-72.4%	34,677	-77.5%	3.17%	+10.7%
FB	Sell	Facebook Inc. Class A FB	$2,761,000	-81.0%	24,000	-78.8%	3.09%	-24.0%
SBUX	New	Starbucks Corporation SBUX	$2,685,000	–	48,360	–	3.00%	–
EA	Sell	Electronic Arts Inc. EA	$2,629,000	-83.7%	33,386	-82.3%	2.94%	-34.8%
SUM	New	Summit Materials Inc. Class A SUM	$2,611,000	–	109,767	–	2.92%	–
INXN	Sell	Interxion Holding N.V. INXN	$2,443,000	-74.1%	69,648	-73.3%	2.73%	+3.6%
AMT	Sell	American Tower Corporation AMT	$2,378,000	-81.5%	22,505	-80.2%	2.66%	-25.9%
CVLT	Sell	CommVault Systems Inc. CVLT	$2,297,000	-76.5%	44,693	-75.7%	2.57%	-5.9%
PLNT	Sell	Planet Fitness Inc. Class A PLNT	$2,199,000	-57.9%	109,387	-58.0%	2.46%	+68.8%
TRU	Sell	TransUnion TRU	$2,184,000	-78.3%	70,611	-75.7%	2.44%	-12.9%
AMZN	New	Amazon.com Inc. AMZN	$2,148,000	–	2,865	–	2.40%	–
AVT	New	Avnet Inc. AVT	$2,073,000	–	43,544	–	2.32%	–
NXPI	Sell	NXP Semiconductors NV NXPI	$1,986,000	-83.6%	20,265	-82.9%	2.22%	-34.3%
AMG	New	Affiliated Managers Group Inc. AMG	$1,984,000	–	13,655	–	2.22%	–
SHPG	Sell	Shire PLC Sponsored ADR SHPG	$1,938,000	-85.3%	11,375	-83.3%	2.17%	-41.2%
GVA	Sell	Granite Construction Incorporated GVA	$1,879,000	-81.3%	34,162	-83.1%	2.10%	-25.0%
XLF	New	Financial Select Sector SPDR Fund XLF	$1,876,000	–	80,700	–	2.10%	–
CEB	New	CEB Inc. CEB	$1,840,000	–	30,370	–	2.06%	–
KMT	Sell	Kennametal Inc. KMT	$1,771,000	-80.7%	56,662	-82.1%	1.98%	-22.9%
CRM	Sell	salesforce.com inc. CRM	$1,722,000	-82.1%	25,151	-81.3%	1.92%	-28.1%
EFII	Sell	Electronics For Imaging Inc. EFII	$1,604,000	-82.1%	36,581	-80.1%	1.79%	-28.5%
SCHW	New	Charles Schwab Corporation SCHW	$1,544,000	–	39,130	–	1.73%	–
RHHBY	New	Roche Holding Ltd Sponsored ADR RHHBY	$1,355,000	–	47,500	–	1.52%	–
DKS	Sell	Dick's Sporting Goods Inc. DKS	$1,221,000	-89.4%	22,988	-88.7%	1.36%	-57.7%
KRE	New	SPDR KBW REGIONAL BANKING ET EQUITY HEDGEFUND 0.0	$1,022,000	–	18,400	–	1.14%	–
AGN	Sell	Allergan plc AGN	$924,000	-82.9%	4,400	-81.2%	1.03%	-31.5%
	Sell	Galapagos NV GLPG-AMS	$816,000	-71.9%	12,732	-71.8%	0.91%	+12.7%
MCHP	New	Microchip Technology Incorporated MCHP	$436,000	–	6,800	–	0.49%	–
CERS	Sell	Cerus Corporation CERS	$101,000	-92.5%	23,109	-89.4%	0.11%	-70.1%
GLPG	Exit	Galapagos NV Sponsored ADR GLPG	$0	–	-3,649	–	-0.07%	–
SFM	Exit	Sprouts Farmers Markets Inc. SFM	$0	–	-126,125	–	-0.73%	–
BMY	Exit	Bristol-Myers Squibb Company BMY	$0	–	-61,145	–	-0.92%	–
MON	Exit	Monsanto Company MON	$0	–	-33,200	–	-0.95%	–
PTLA	Exit	Portola Pharmaceuticals Inc. PTLA	$0	–	-160,229	–	-1.02%	–
RCL	Exit	Royal Caribbean Cruises Ltd. RCL	$0	–	-87,784	–	-1.84%	–
DLTR	Exit	Dollar Tree Inc. DLTR	$0	–	-86,009	–	-1.90%	–
EPAM	Exit	EPAM Systems Inc. EPAM	$0	–	-126,195	–	-2.44%	–
CNC	Exit	Centene Corporation CNC	$0	–	-134,264	–	-2.51%	–
MNST	Exit	Monster Beverage Corporation MNST	$0	–	-64,805	–	-2.66%	–
	Exit	Apple Inc. AAPL	$0	–	-108,915	–	-3.44%	–
RHT	Exit	Red Hat Inc. RHT	$0	–	-173,428	–	-3.91%	–
	Exit	Amazon.com Inc. AMZN	$0	–	-18,255	–	-4.27%	–

Q3 2016

			Value		Shares		↓ Weighting
MDT	Sell	Medtronic Inc. MDT	$16,613,000	-5.4%	192,276	-5.0%	4.64%	+10.0%
EA	Sell	Electronic Arts Inc. EA	$16,144,000	+3.2%	189,043	-8.5%	4.51%	+20.0%
	Sell	Amazon.com Inc. AMZN	$15,285,000	+7.3%	18,255	-8.3%	4.27%	+24.8%
FIS	Sell	Fidelity National Information Services Inc. FIS	$15,067,000	-0.9%	195,595	-5.2%	4.20%	+15.2%
FB	New	Facebook Inc. Class A FB	$14,555,000	–	113,470	–	4.06%	–
RHT	Sell	Red Hat Inc. RHT	$14,018,000	-12.4%	173,428	-21.3%	3.91%	+1.9%
HDS	Buy	HD Supply Holdings Inc. HDS	$13,914,000	-7.7%	435,093	+0.5%	3.88%	+7.3%
SHPG	Buy	Shire PLC Sponsored ADR SHPG	$13,203,000	+104.3%	68,105	+94.0%	3.68%	+137.6%
AMT	Sell	American Tower Corporation AMT	$12,857,000	-24.9%	113,445	-24.7%	3.59%	-12.7%
VWR	Sell	VWR Corp. VWR	$12,768,000	-18.8%	450,202	-17.3%	3.56%	-5.6%
	New	Apple Inc. AAPL	$12,313,000	–	108,915	–	3.44%	–
NXPI	Sell	NXP Semiconductors NV NXPI	$12,116,000	+19.0%	118,776	-8.6%	3.38%	+38.3%
DKS	Buy	Dick's Sporting Goods Inc. DKS	$11,572,000	+187.4%	204,026	+128.3%	3.23%	+234.0%
PWR	New	Quanta Services Inc. PWR	$11,548,000	–	412,565	–	3.22%	–
UNH	Sell	UnitedHealth Group Incorporated UNH	$11,218,000	-23.1%	80,125	-22.4%	3.13%	-10.5%
JCOM	Sell	j2 Global Inc JCOM	$10,269,000	-11.4%	154,159	-16.0%	2.87%	+3.0%
TRU	Sell	TransUnion TRU	$10,045,000	-36.7%	291,155	-38.7%	2.80%	-26.4%
GVA	Sell	Granite Construction Incorporated GVA	$10,034,000	-0.6%	201,722	-9.0%	2.80%	+15.5%
CVLT	Sell	CommVault Systems Inc. CVLT	$9,779,000	+6.0%	184,063	-13.8%	2.73%	+23.3%
CRM	Sell	salesforce.com inc. CRM	$9,600,000	-26.8%	134,583	-18.5%	2.68%	-14.9%
MNST	Sell	Monster Beverage Corporation MNST	$9,514,000	-14.6%	64,805	-6.5%	2.66%	-0.7%
INXN	New	Interxion Holding N.V. INXN	$9,445,000	–	260,771	–	2.64%	–
KMT	New	Kennametal Inc. KMT	$9,199,000	–	316,976	–	2.57%	–
BLDR	Buy	Builders FirstSource Inc. BLDR	$9,093,000	+34.5%	790,009	+31.5%	2.54%	+56.4%
CNC	Sell	Centene Corporation CNC	$8,990,000	-24.0%	134,264	-19.0%	2.51%	-11.6%
EFII	Sell	Electronics For Imaging Inc. EFII	$8,979,000	-9.0%	183,546	-19.9%	2.51%	+5.8%
EPAM	Buy	EPAM Systems Inc. EPAM	$8,747,000	+39.2%	126,195	+29.2%	2.44%	+61.9%
DLTR	Sell	Dollar Tree Inc. DLTR	$6,789,000	-43.4%	86,009	-32.4%	1.90%	-34.2%
RCL	Sell	Royal Caribbean Cruises Ltd. RCL	$6,579,000	-22.0%	87,784	-30.1%	1.84%	-9.3%
AGN	Sell	Allergan PLC AGN	$5,403,000	-56.8%	23,459	-56.7%	1.51%	-49.8%
PLNT	Sell	Planet Fitness Inc. Class A PLNT	$5,221,000	-22.0%	260,137	-26.6%	1.46%	-9.3%
PTLA	Sell	Portola Pharmaceuticals Inc. PTLA	$3,639,000	-30.4%	160,229	-27.6%	1.02%	-19.0%
MON	New	Monsanto Company MON	$3,393,000	–	33,200	–	0.95%	–
BMY	New	Bristol-Myers Squibb Company BMY	$3,297,000	–	61,145	–	0.92%	–
	Sell	Galapagos NV GLPG-AMS	$2,899,000	-43.9%	45,127	-52.1%	0.81%	-34.8%
SFM	Sell	Sprouts Farmers Markets Inc. SFM	$2,604,000	-81.0%	126,125	-78.9%	0.73%	-77.9%
CERS	Sell	Cerus Corporation CERS	$1,354,000	-49.3%	218,049	-49.0%	0.38%	-40.9%
GLPG	Sell	Galapagos NV Sponsored ADR GLPG	$236,000	-77.6%	3,649	-80.8%	0.07%	-73.9%
BKD	Exit	Brookdale Senior Living Inc. BKD	$0	–	-146,147	–	-0.54%	–
	Exit	Akorn Inc. AKRX	$0	–	-132,475	–	-0.91%	–
ABCO	Exit	Advisory Board Company ABCO	$0	–	-118,314	–	-1.00%	–
SCHW	Exit	Charles Schwab Corporation SCHW	$0	–	-294,190	–	-1.79%	–
SONC	Exit	Sonic Corp. SONC	$0	–	-287,508	–	-1.87%	–
CHKP	Exit	Check Point Software Technologies Ltd. CHKP	$0	–	-99,621	–	-1.90%	–
ADTN	Exit	ADTRAN Inc. ADTN	$0	–	-426,334	–	-1.91%	–
KATE	Exit	Kate Spade & Co KATE	$0	–	-421,117	–	-2.08%	–
PAYC	Exit	Paycom Software Inc. PAYC	$0	–	-213,396	–	-2.21%	–
GOOG	Exit	Alphabet Inc. Class C GOOG	$0	–	-15,105	–	-2.51%	–
SKX	Exit	Skechers U.S.A. Inc. Class A SKX	$0	–	-399,161	–	-2.85%	–

Q2 2016

			Value		Shares		↓ Weighting
MDT	New	Medtronic Inc. MDT	$17,562,000	–	202,395	–	4.22%	–
AMT	New	American Tower Corporation AMT	$17,127,000	–	150,755	–	4.11%	–
RHT	New	Red Hat Inc. RHT	$15,998,000	–	220,364	–	3.84%	–
TRU	New	TransUnion TRU	$15,880,000	–	474,872	–	3.81%	–
VWR	New	VWR Corp. VWR	$15,731,000	–	544,312	–	3.78%	–
EA	New	Electronic Arts Inc. EA	$15,648,000	–	206,543	–	3.76%	–
FIS	New	Fidelity National Information Services Inc. FIS	$15,208,000	–	206,405	–	3.65%	–
HDS	New	HD Supply Holdings Inc. HDS	$15,076,000	–	432,978	–	3.62%	–
UNH	New	UnitedHealth Group Incorporated UNH	$14,581,000	–	103,265	–	3.50%	–
	New	Amazon.com Inc. AMZN	$14,239,000	–	19,898	–	3.42%	–
SFM	New	Sprouts Farmers Markets Inc. SFM	$13,695,000	–	598,035	–	3.29%	–
CRM	New	salesforce.com inc. CRM	$13,115,000	–	165,158	–	3.15%	–
AGN	New	Allergan PLC AGN	$12,518,000	–	54,169	–	3.00%	–
DLTR	New	Dollar Tree Inc. DLTR	$11,990,000	–	127,231	–	2.88%	–
SKX	New	Skechers U.S.A. Inc. Class A SKX	$11,863,000	–	399,161	–	2.85%	–
CNC	New	Centene Corporation CNC	$11,826,000	–	165,703	–	2.84%	–
JCOM	New	j2 Global Inc JCOM	$11,596,000	–	183,564	–	2.78%	–
MNST	New	Monster Beverage Corporation MNST	$11,142,000	–	69,330	–	2.67%	–
GOOG	New	Alphabet Inc. Class C GOOG	$10,454,000	–	15,105	–	2.51%	–
NXPI	New	NXP Semiconductors NV NXPI	$10,185,000	–	130,006	–	2.44%	–
GVA	New	Granite Construction Incorporated GVA	$10,098,000	–	221,692	–	2.42%	–
EFII	New	Electronics For Imaging Inc. EFII	$9,864,000	–	229,171	–	2.37%	–
CVLT	New	CommVault Systems Inc. CVLT	$9,225,000	–	213,598	–	2.21%	–
PAYC	New	Paycom Software Inc. PAYC	$9,221,000	–	213,396	–	2.21%	–
KATE	New	Kate Spade & Co KATE	$8,679,000	–	421,117	–	2.08%	–
RCL	New	Royal Caribbean Cruises Ltd. RCL	$8,432,000	–	125,570	–	2.02%	–
ADTN	New	ADTRAN Inc. ADTN	$7,951,000	–	426,334	–	1.91%	–
CHKP	New	Check Point Software Technologies Ltd. CHKP	$7,938,000	–	99,621	–	1.90%	–
SONC	New	Sonic Corp. SONC	$7,777,000	–	287,508	–	1.87%	–
SCHW	New	Charles Schwab Corporation SCHW	$7,446,000	–	294,190	–	1.79%	–
BLDR	New	Builders FirstSource Inc. BLDR	$6,761,000	–	600,992	–	1.62%	–
PLNT	New	Planet Fitness Inc Class A PLNT	$6,695,000	–	354,615	–	1.61%	–
SHPG	New	Shire PLC Sponsored ADR SHPG	$6,461,000	–	35,100	–	1.55%	–
EPAM	New	EPAM Systems Inc. EPAM	$6,283,000	–	97,700	–	1.51%	–
PTLA	New	Portola Pharmaceuticals Inc. PTLA	$5,225,000	–	221,414	–	1.25%	–
	New	Galapagos NV GLPG-AMS	$5,171,000	–	94,173	–	1.24%	–
ABCO	New	Advisory Board Company ABCO	$4,187,000	–	118,314	–	1.00%	–
DKS	New	Dick's Sporting Goods Inc. DKS	$4,027,000	–	89,371	–	0.97%	–
	New	Akorn Inc. AKRX	$3,774,000	–	132,475	–	0.91%	–
CERS	New	Cerus Corporation CERS	$2,668,000	–	427,558	–	0.64%	–
BKD	New	Brookdale Senior Living Inc. BKD	$2,257,000	–	146,147	–	0.54%	–
GLPG	New	Galapagos NV Sponsored ADR GLPG	$1,052,000	–	18,969	–	0.25%	–

Q4 2015

			Value		Shares		↓ Weighting
GLPG	Exit	Galapagos NV Sponsored ADR GLPG	$0	–	-13,164	–	-0.15%	–
KND	Exit	KINDRED HEALTHCARE INC. CMN	$0	–	-112,268	–	-0.49%	–
	Exit	GALAPAGOS NV CMN	$0	–	-51,950	–	-0.59%	–
CIEN	Exit	CIENA CORPORATION CMN	$0	–	-148,867	–	-0.85%	–
CERS	Exit	CERUS CORPORATION CMN	$0	–	-699,752	–	-0.88%	–
TECH	Exit	BIO TECHNE CORP CMN	$0	–	-38,493	–	-0.98%	–
RLGY	Exit	REALOGY HLDGS CORP CMN	$0	–	-128,539	–	-1.34%	–
EFII	Exit	ELECTRONICS FOR IMAGING INC. CMN	$0	–	-112,204	–	-1.34%	–
BDC	Exit	BELDEN INC CMN	$0	–	-115,388	–	-1.49%	–
BXLT	Exit	BAXALTA INCORPORATED CMN	$0	–	-180,000	–	-1.57%	–
BIIB	Exit	BIOGEN IDEC INC	$0	–	-23,825	–	-1.92%	–
PCLN	Exit	PRICELINE GROUP INC/THE CMN	$0	–	-5,770	–	-1.97%	–
SONC	Exit	SONIC CORPORATION CMN	$0	–	-312,330	–	-1.98%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC CMN	$0	–	-103,123	–	-2.00%	–
SFM	Exit	SPROUTS FMRS MKT INC CMN	$0	–	-363,357	–	-2.12%	–
WBC	Exit	WABCO HOLDINGS INC. CMN	$0	–	-74,464	–	-2.16%	–
VWR	Exit	VWR CORPORATION CMN	$0	–	-310,239	–	-2.20%	–
LFUS	Exit	LITTELFUSE INC CMN	$0	–	-93,242	–	-2.35%	–
TRU	Exit	TRANSUNION CMN	$0	–	-344,569	–	-2.39%	–
CRM	Exit	SALESFORCE.COM, INC CMN	$0	–	-141,223	–	-2.71%	–
PAYC	Exit	PAYCOM SOFTWARE, INC. CMN	$0	–	-276,807	–	-2.75%	–
JCOM	Exit	J2 GLOBAL INC. CMN	$0	–	-141,829	–	-2.78%	–
AGN	Exit	ALLERGAN PLC CMN	$0	–	-37,009	–	-2.78%	–
RH	Exit	RESTORATION HARDWARE HLDGS INC CMN	$0	–	-109,843	–	-2.83%	–
GILD	Exit	GILEAD SCIENCES CMN	$0	–	-105,456	–	-2.86%	–
FIVE	Exit	FIVE BELOW INC CMN	$0	–	-308,836	–	-2.87%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH. LTD ORDINARY SHARES	$0	–	-132,051	–	-2.90%	–
RHT	Exit	RED HAT, INC. CMN	$0	–	-149,814	–	-2.98%	–
AMZN	Exit	AMAZON.COM INC CMN	$0	–	-21,228	–	-3.00%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIONS CORP CLASS A	$0	–	-173,977	–	-3.01%	–
CERN	Exit	CERNER CORP CMN	$0	–	-196,067	–	-3.25%	–
CBRE	Exit	CBRE GROUP INC CMN	$0	–	-375,159	–	-3.32%	–
NXPI	Exit	NXP SEMICONDUCTORS N.V. CMN	$0	–	-140,221	–	-3.37%	–
GOOG	Exit	Alphabet Inc. Class C GOOG	$0	–	-20,179	–	-3.39%	–
SCHW	Exit	CHARLES SCHWAB CORPORATION CMN	$0	–	-439,215	–	-3.47%	–
SBAC	Exit	SBA COMMUNICATIONS CORP CMN	$0	–	-120,763	–	-3.50%	–
DLTR	Exit	DOLLAR TREE INC. CMN	$0	–	-197,736	–	-3.64%	–
LII	Exit	LENNOX INTERNATIONAL INC CMN	$0	–	-117,958	–	-3.69%	–
EA	Exit	ELECTRONIC ARTS CMN	$0	–	-207,050	–	-3.88%	–
RCL	Exit	ROYAL CARIBBEAN CRUISES LTD ISIN: LR0008862868	$0	–	-159,091	–	-3.92%	–
MDT	Exit	MEDTRONIC PUBLIC LIMITED COMPA*NY CMN	$0	–	-235,820	–	-4.36%	–

Q3 2015

			Value		Shares		↓ Weighting
MDT	Buy	MEDTRONIC PUBLIC LIMITED COMPA*NY CMN	$15,786,000	+19.1%	235,820	+31.9%	4.36%	+14.2%
RCL	Buy	ROYAL CARIBBEAN CRUISES LTD ISIN: LR0008862868	$14,173,000	+20.4%	159,091	+6.3%	3.92%	+15.3%
EA	Buy	ELECTRONIC ARTS CMN	$14,028,000	+14.8%	207,050	+12.6%	3.88%	+10.0%
LII	Buy	LENNOX INTERNATIONAL INC CMN	$13,368,000	+21.8%	117,958	+15.7%	3.69%	+16.8%
DLTR	Buy	DOLLAR TREE INC. CMN	$13,181,000	-1.1%	197,736	+17.2%	3.64%	-5.2%
SBAC	Buy	SBA COMMUNICATIONS CORP CMN	$12,649,000	+65.3%	120,763	+81.4%	3.50%	+58.4%
SCHW	Buy	CHARLES SCHWAB CORPORATION CMN	$12,544,000	+91.1%	439,215	+118.5%	3.47%	+83.2%
GOOG	New	Alphabet Inc. Class C GOOG	$12,277,000	–	20,179	–	3.39%	–
NXPI	Buy	NXP SEMICONDUCTORS N.V. CMN	$12,209,000	+3.8%	140,221	+17.0%	3.37%	-0.5%
CBRE	Buy	CBRE GROUP INC CMN	$12,005,000	+1.4%	375,159	+17.3%	3.32%	-2.8%
CERN	Buy	CERNER CORP CMN	$11,756,000	+41.9%	196,067	+63.4%	3.25%	+36.1%
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIONS CORP CLASS A	$10,893,000	+24.3%	173,977	+21.2%	3.01%	+19.1%
AMZN	New	AMAZON.COM INC CMN	$10,866,000	–	21,228	–	3.00%	–
RHT	Buy	RED HAT, INC. CMN	$10,769,000	-4.4%	149,814	+1.0%	2.98%	-8.3%
CHKP	Buy	CHECK POINT SOFTWARE TECH. LTD ORDINARY SHARES	$10,476,000	+15.0%	132,051	+15.3%	2.90%	+10.3%
FIVE	Buy	FIVE BELOW INC CMN	$10,371,000	+5.9%	308,836	+24.7%	2.87%	+1.6%
GILD	Buy	GILEAD SCIENCES CMN	$10,355,000	+15.7%	105,456	+38.0%	2.86%	+10.9%
RH	Buy	RESTORATION HARDWARE HLDGS INC CMN	$10,249,000	+2.1%	109,843	+6.8%	2.83%	-2.1%
AGN	Sell	ALLERGAN PLC CMN	$10,059,000	-31.3%	37,009	-23.3%	2.78%	-34.1%
JCOM	Buy	J2 GLOBAL INC. CMN	$10,049,000	+20.6%	141,829	+15.7%	2.78%	+15.6%
PAYC	Buy	PAYCOM SOFTWARE, INC. CMN	$9,940,000	+30.8%	276,807	+24.4%	2.75%	+25.4%
CRM	Buy	SALESFORCE.COM, INC CMN	$9,805,000	+14.9%	141,223	+15.2%	2.71%	+10.1%
TRU	Buy	TRANSUNION CMN	$8,656,000	+738.8%	344,569	+6791.4%	2.39%	+705.4%
LFUS	Buy	LITTELFUSE INC CMN	$8,499,000	+5.7%	93,242	+10.0%	2.35%	+1.3%
VWR	New	VWR CORPORATION CMN	$7,970,000	–	310,239	–	2.20%	–
WBC	Buy	WABCO HOLDINGS INC. CMN	$7,806,000	+10.5%	74,464	+15.6%	2.16%	+5.9%
SFM	Buy	SPROUTS FMRS MKT INC CMN	$7,667,000	+11.6%	363,357	+42.7%	2.12%	+7.0%
SSNC	New	SS&C TECHNOLOGIES HLDGS INC CMN	$7,223,000	–	103,123	–	2.00%	–
SONC	New	SONIC CORPORATION CMN	$7,168,000	–	312,330	–	1.98%	–
PCLN	New	PRICELINE GROUP INC/THE CMN	$7,137,000	–	5,770	–	1.97%	–
BIIB	New	BIOGEN IDEC INC	$6,952,000	–	23,825	–	1.92%	–
BXLT	New	BAXALTA INCORPORATED CMN	$5,672,000	–	180,000	–	1.57%	–
BDC	Sell	BELDEN INC CMN	$5,387,000	-45.6%	115,388	-5.4%	1.49%	-47.8%
EFII	New	ELECTRONICS FOR IMAGING INC. CMN	$4,856,000	–	112,204	–	1.34%	–
RLGY	New	REALOGY HLDGS CORP CMN	$4,837,000	–	128,539	–	1.34%	–
TECH	Sell	BIO TECHNE CORP CMN	$3,559,000	-53.8%	38,493	-50.8%	0.98%	-55.7%
CERS	New	CERUS CORPORATION CMN	$3,177,000	–	699,752	–	0.88%	–
CIEN	Sell	CIENA CORPORATION CMN	$3,085,000	-64.1%	148,867	-59.0%	0.85%	-65.6%
	New	GALAPAGOS NV CMN	$2,122,000	–	51,950	–	0.59%	–
KND	New	KINDRED HEALTHCARE INC. CMN	$1,768,000	–	112,268	–	0.49%	–
GLPG	Sell	Galapagos NV Sponsored ADR GLPG	$536,000	–	13,164	-40.3%	0.15%	–
	Exit	GALAPAGOS NV CMN	$0	–	-73,214	–	-1.08%	–
AKRXQ	Exit	AKORN INC CMN	$0	–	-127,816	–	-1.60%	–
BKD	Exit	BROOKDALE SENIOR LIVING, INC. CMN	$0	–	-171,310	–	-1.73%	–
GRUB	Exit	GRUBHUB INC CMN	$0	–	-186,924	–	-1.84%	–
EMC	Exit	EMC CORPORATION MASS CMN	$0	–	-244,538	–	-1.86%	–
SHW	Exit	SHERWIN-WILLIAMS CO CMN	$0	–	-26,215	–	-2.08%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC CMN	$0	–	-57,834	–	-2.16%	–
SIG	Exit	SIGNET JEWELERS LIMITED CMN	$0	–	-65,986	–	-2.44%	–
MHFI	Exit	MCGRAW-HILL COMPANIES INC CMN	$0	–	-85,930	–	-2.49%	–
CTRX	Exit	CATAMARAN CORP CMN	$0	–	-143,358	–	-2.52%	–
AMG	Exit	AFFILIATED MANAGERS GROUP INC CMN	$0	–	-51,410	–	-3.24%	–
RHI	Exit	ROBERT HALF INTL INC CMN	$0	–	-236,094	–	-3.78%	–

Q2 2015

			Value		Shares		↓ Weighting
AGN	New	ALLERGAN PLC CMN	$14,640,000	–	48,244	–	4.22%	–
DLTR	New	DOLLAR TREE INC. CMN	$13,329,000	–	168,747	–	3.84%	–
MDT	New	MEDTRONIC PUBLIC LIMITED COMPA*NY CMN	$13,251,000	–	178,820	–	3.82%	–
RHI	New	ROBERT HALF INTL INC CMN	$13,103,000	–	236,094	–	3.78%	–
EA	New	ELECTRONIC ARTS CMN	$12,223,000	–	183,800	–	3.52%	–
CBRE	New	CBRE GROUP INC CMN	$11,835,000	–	319,874	–	3.41%	–
RCL	New	ROYAL CARIBBEAN CRUISES LTD ISIN: LR0008862868	$11,776,000	–	149,656	–	3.40%	–
NXPI	New	NXP SEMICONDUCTORS N.V. CMN	$11,765,000	–	119,806	–	3.39%	–
RHT	New	RED HAT, INC. CMN	$11,265,000	–	148,354	–	3.25%	–
AMG	New	AFFILIATED MANAGERS GROUP INC CMN	$11,238,000	–	51,410	–	3.24%	–
LII	New	LENNOX INTERNATIONAL INC CMN	$10,975,000	–	101,913	–	3.16%	–
RH	New	RESTORATION HARDWARE HLDGS INC CMN	$10,039,000	–	102,823	–	2.89%	–
BDC	New	BELDEN INC CMN	$9,904,000	–	121,929	–	2.86%	–
FIVE	New	FIVE BELOW INC CMN	$9,791,000	–	247,681	–	2.82%	–
CHKP	New	CHECK POINT SOFTWARE TECH. LTD ORDINARY SHARES	$9,107,000	–	114,481	–	2.62%	–
GILD	New	GILEAD SCIENCES CMN	$8,950,000	–	76,441	–	2.58%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIONS CORP CLASS A	$8,767,000	–	143,512	–	2.53%	–
CTRX	New	CATAMARAN CORP CMN	$8,756,000	–	143,358	–	2.52%	–
MHFI	New	MCGRAW-HILL COMPANIES INC CMN	$8,632,000	–	85,930	–	2.49%	–
CIEN	New	CIENA CORPORATION CMN	$8,598,000	–	363,107	–	2.48%	–
CRM	New	SALESFORCE.COM, INC CMN	$8,534,000	–	122,558	–	2.46%	–
SIG	New	SIGNET JEWELERS LIMITED CMN	$8,462,000	–	65,986	–	2.44%	–
JCOM	New	J2 GLOBAL INC. CMN	$8,331,000	–	122,629	–	2.40%	–
CERN	New	CERNER CORP CMN	$8,284,000	–	119,959	–	2.39%	–
LFUS	New	LITTELFUSE INC CMN	$8,044,000	–	84,767	–	2.32%	–
TECH	New	BIO TECHNE CORP CMN	$7,700,000	–	78,200	–	2.22%	–
SBAC	New	SBA COMMUNICATIONS CORP CMN	$7,653,000	–	66,563	–	2.21%	–
PAYC	New	PAYCOM SOFTWARE, INC. CMN	$7,600,000	–	222,537	–	2.19%	–
TMO	New	THERMO FISHER SCIENTIFIC INC CMN	$7,505,000	–	57,834	–	2.16%	–
SHW	New	SHERWIN-WILLIAMS CO CMN	$7,210,000	–	26,215	–	2.08%	–
WBC	New	WABCO HOLDINGS INC. CMN	$7,064,000	–	64,431	–	2.04%	–
SFM	New	SPROUTS FMRS MKT INC CMN	$6,870,000	–	254,615	–	1.98%	–
SCHW	New	CHARLES SCHWAB CORPORATION CMN	$6,563,000	–	201,000	–	1.89%	–
EMC	New	EMC CORPORATION MASS CMN	$6,453,000	–	244,538	–	1.86%	–
GRUB	New	GRUBHUB INC CMN	$6,369,000	–	186,924	–	1.84%	–
BKD	New	BROOKDALE SENIOR LIVING, INC. CMN	$5,997,000	–	171,310	–	1.73%	–
AKRXQ	New	AKORN INC CMN	$5,550,000	–	127,816	–	1.60%	–
	New	GALAPAGOS NV CMN	$3,736,000	–	73,214	–	1.08%	–
TRU	New	TRANSUNION CMN	$1,032,000	–	5,000	–	0.30%	–
GLPG	New	GALAPAGOS NV	$0	–	22,041	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIONS CORP CLASS A	$0	–	-102,956	–	-1.52%	–
SFLY	Exit	SHUTTERFLY, INC. CMN	$0	–	-101,810	–	-1.63%	–
ADS	Exit	ALLIANCE DATA SYSTEMS CORPORAT*ION CMN	$0	–	-20,931	–	-1.71%	–
PFPT	Exit	PROOFPOINT INC CMN	$0	–	-146,563	–	-1.79%	–
HOG	Exit	HARLEY-DAVIDSON INC CMN	$0	–	-94,402	–	-1.81%	–
CIEN	Exit	CIENA CORPORATION CMN	$0	–	-330,644	–	-1.82%	–
ULTA	Exit	ULTA SALON COSMETICS & FRAGRAN*CE INC. CMN	$0	–	-48,428	–	-1.88%	–
GRUB	Exit	GRUBHUB INC CMN	$0	–	-185,773	–	-2.09%	–
LL	Exit	LUMBER LIQUIDATORS HOLDINGS IN*C CMN	$0	–	-113,182	–	-2.13%	–
ZU	Exit	ZULILY INC. CMN CLASS A	$0	–	-175,747	–	-2.19%	–
DAL	Exit	DELTA AIR LINES, INC. CMN	$0	–	-190,300	–	-2.26%	–
BDC	Exit	BELDEN INC CMN	$0	–	-110,730	–	-2.33%	–
RCL	Exit	ROYAL CARIBBEAN CRUISES LTD ISIN: LR0008862868	$0	–	-107,800	–	-2.38%	–
CBRE	Exit	CBRE GROUP INC CMN	$0	–	-246,353	–	-2.41%	–
AKRXQ	Exit	AKORN INC CMN	$0	–	-218,608	–	-2.61%	–
SIG	Exit	SIGNET JEWELERS LIMITED CMN	$0	–	-75,131	–	-2.81%	–
GILD	Exit	GILEAD SCIENCES CMN	$0	–	-81,003	–	-2.83%	–
MDT	Exit	MEDTRONIC INC CMN	$0	–	-139,791	–	-2.85%	–
THC	Exit	TENET HEALTHCARE CORP CMN	$0	–	-149,467	–	-2.92%	–
B108PS	Exit	ACTAVIS PLC CMN	$0	–	-37,100	–	-2.94%	–
TECH	Exit	TECHNE CORP CMN	$0	–	-96,358	–	-2.96%	–
ABC	Exit	AMERISOURCEBERGEN CORPORATION CMN	$0	–	-116,936	–	-2.97%	–
SNDK	Exit	SANDISK CORP CMN	$0	–	-93,917	–	-3.02%	–
PCLN	Exit	PRICELINE GROUP INC/THE CMN	$0	–	-7,992	–	-3.04%	–
WHR	Exit	WHIRLPOOL CORP. CMN	$0	–	-64,493	–	-3.09%	–
IPGP	Exit	IPG PHOTONICS CORP CMN	$0	–	-136,619	–	-3.09%	–
CERN	Exit	CERNER CORP CMN	$0	–	-169,483	–	-3.32%	–
SBAC	Exit	SBA COMMUNICATIONS CORP CMN	$0	–	-92,132	–	-3.36%	–
NXPI	Exit	NXP SEMICONDUCTORS N.V. CMN	$0	–	-152,450	–	-3.43%	–
AMG	Exit	AFFILIATED MANAGERS GROUP INC CMN	$0	–	-53,891	–	-3.55%	–
MRK	Exit	MERCK & CO., INC. CMN	$0	–	-182,697	–	-3.56%	–
CTRX	Exit	CATAMARAN CORP CMN	$0	–	-263,527	–	-3.65%	–
EMC	Exit	EMC CORPORATION MASS CMN	$0	–	-382,132	–	-3.68%	–
RHI	Exit	ROBERT HALF INTL INC CMN	$0	–	-234,500	–	-3.78%	–
RHT	Exit	RED HAT, INC. CMN	$0	–	-229,287	–	-4.23%	–
URI	Exit	UNITED RENTALS, INC. CMN	$0	–	-119,950	–	-4.38%	–

Q3 2014

			Value		Shares		↓ Weighting
URI	Buy	UNITED RENTALS, INC. CMN	$13,326,000	+15.3%	119,950	+8.7%	4.38%	+12.4%
RHT	Buy	RED HAT, INC. CMN	$12,874,000	+34.2%	229,287	+32.1%	4.23%	+30.7%
RHI	New	ROBERT HALF INTL INC CMN	$11,491,000	–	234,500	–	3.78%	–
EMC	Buy	EMC CORPORATION MASS CMN	$11,181,000	+35.7%	382,132	+22.1%	3.68%	+32.2%
CTRX	New	CATAMARAN CORP CMN	$11,108,000	–	263,527	–	3.65%	–
MRK	Buy	MERCK & CO., INC. CMN	$10,830,000	+39.4%	182,697	+36.0%	3.56%	+35.8%
AMG	New	AFFILIATED MANAGERS GROUP INC CMN	$10,798,000	–	53,891	–	3.55%	–
NXPI	New	NXP SEMICONDUCTORS N.V. CMN	$10,432,000	–	152,450	–	3.43%	–
SBAC	Sell	SBA COMMUNICATIONS CORP CMN	$10,217,000	-4.7%	92,132	-12.1%	3.36%	-7.2%
CERN	Buy	CERNER CORP CMN	$10,096,000	+52.0%	169,483	+31.6%	3.32%	+48.1%
IPGP	Buy	IPG PHOTONICS CORP CMN	$9,397,000	+4.1%	136,619	+4.1%	3.09%	+1.4%
WHR	Buy	WHIRLPOOL CORP. CMN	$9,393,000	+18.5%	64,493	+13.2%	3.09%	+15.4%
PCLN	Buy	PRICELINE GROUP INC/THE CMN	$9,259,000	-1.2%	7,992	+2.6%	3.04%	-3.7%
SNDK	Sell	SANDISK CORP CMN	$9,199,000	-10.3%	93,917	-4.4%	3.02%	-12.6%
ABC	Sell	AMERISOURCEBERGEN CORPORATION CMN	$9,039,000	-9.5%	116,936	-15.0%	2.97%	-11.8%
TECH	Sell	TECHNE CORP CMN	$9,014,000	-16.1%	96,358	-17.0%	2.96%	-18.3%
B108PS	New	ACTAVIS PLC CMN	$8,951,000	–	37,100	–	2.94%	–
THC	Buy	TENET HEALTHCARE CORP CMN	$8,877,000	+35.3%	149,467	+6.9%	2.92%	+31.8%
MDT	Buy	MEDTRONIC INC CMN	$8,660,000	+13.4%	139,791	+16.7%	2.85%	+10.5%
GILD	New	GILEAD SCIENCES CMN	$8,623,000	–	81,003	–	2.83%	–
SIG	New	SIGNET JEWELERS LIMITED CMN	$8,558,000	–	75,131	–	2.81%	–
AKRXQ	New	AKORN INC CMN	$7,929,000	–	218,608	–	2.61%	–
CBRE	Buy	CBRE GROUP INC CMN	$7,327,000	+12.2%	246,353	+20.9%	2.41%	+9.4%
RCL	New	ROYAL CARIBBEAN CRUISES LTD ISIN: LR0008862868	$7,254,000	–	107,800	–	2.38%	–
BDC	New	BELDEN INC CMN	$7,089,000	–	110,730	–	2.33%	–
DAL	Buy	DELTA AIR LINES, INC. CMN	$6,879,000	+38.2%	190,300	+48.0%	2.26%	+34.7%
ZU	New	ZULILY INC. CMN CLASS A	$6,659,000	–	175,747	–	2.19%	–
LL	New	LUMBER LIQUIDATORS HOLDINGS IN*C CMN	$6,494,000	–	113,182	–	2.13%	–
GRUB	New	GRUBHUB INC CMN	$6,361,000	–	185,773	–	2.09%	–
ULTA	Sell	ULTA SALON COSMETICS & FRAGRAN*CE INC. CMN	$5,723,000	-42.8%	48,428	-55.7%	1.88%	-44.2%
CIEN	New	CIENA CORPORATION CMN	$5,528,000	–	330,644	–	1.82%	–
HOG	Sell	HARLEY-DAVIDSON INC CMN	$5,494,000	-45.2%	94,402	-34.2%	1.81%	-46.6%
PFPT	Sell	PROOFPOINT INC CMN	$5,443,000	-23.1%	146,563	-22.4%	1.79%	-25.1%
ADS	New	ALLIANCE DATA SYSTEMS CORPORAT*ION CMN	$5,197,000	–	20,931	–	1.71%	–
SFLY	Sell	SHUTTERFLY, INC. CMN	$4,962,000	-35.3%	101,810	-42.8%	1.63%	-36.9%
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIONS CORP CLASS A	$4,609,000	-50.6%	102,956	-46.0%	1.52%	-51.9%
QCOM	Exit	QUALCOMM INC CMN	$0	–	-34,325	–	-0.92%	–
PAHC	Exit	PHIBRO ANIMAL HEALTH CORPORATI*ON CMN CLASS A	$0	–	-145,208	–	-1.08%	–
BKD	Exit	BROOKDALE SENIOR LIVING, INC. CMN	$0	–	-106,726	–	-1.20%	–
MNST	Exit	MONSTER BEVERAGE CORP CMN	$0	–	-66,909	–	-1.60%	–
AWAY	Exit	HOMEAWAY INC CMN	$0	–	-149,549	–	-1.76%	–
GMCR	Exit	KEURIG GREEN MTN INC CMN	$0	–	-43,100	–	-1.81%	–
MOH	Exit	MOLINA HEALTHCARE, INC. CMN	$0	–	-129,670	–	-1.95%	–
WEB	Exit	WEB.COM GROUP, INC CMN	$0	–	-204,811	–	-1.99%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC CMN	$0	–	-57,950	–	-2.31%	–
	Exit	ALLIANCE DATA SYSTEMS CORPORAT*ION CMN	$0	–	-27,953	–	-2.65%	–
	Exit	B/E AEROSPACE INC CMN	$0	–	-85,950	–	-2.68%	–
KORS	Exit	MICHAEL KORS HOLDINGS LIMITED CMN	$0	–	-95,200	–	-2.85%	–
	Exit	AKORN INC CMN	$0	–	-256,005	–	-2.87%	–
MCHP	Exit	MICROCHIP TECHNOLOGY CMN	$0	–	-182,500	–	-3.00%	–
	Exit	AFFILIATED MANAGERS GROUP INC CMN	$0	–	-43,765	–	-3.03%	–
	Exit	BELDEN INC CMN	$0	–	-131,055	–	-3.45%	–
PRXL	Exit	PAREXEL INTERNATIONAL CORP CMN	$0	–	-201,260	–	-3.59%	–

Q2 2014

			Value		Shares		↓ Weighting
URI	New	UNITED RENTALS, INC. CMN	$11,557,000	–	110,350	–	3.90%	–
TECH	New	TECHNE CORP CMN	$10,746,000	–	116,083	–	3.62%	–
SBAC	New	SBA COMMUNICATIONS CORP CMN	$10,726,000	–	104,850	–	3.62%	–
PRXL	New	PAREXEL INTERNATIONAL CORP CMN	$10,635,000	–	201,260	–	3.59%	–
SNDK	New	SANDISK CORP CMN	$10,260,000	–	98,250	–	3.46%	–
	New	BELDEN INC CMN	$10,243,000	–	131,055	–	3.45%	–
HOG	New	HARLEY-DAVIDSON INC CMN	$10,021,000	–	143,465	–	3.38%	–
ULTA	New	ULTA SALON COSMETICS & FRAGRAN*CE INC. CMN	$10,000,000	–	109,395	–	3.37%	–
ABC	New	AMERISOURCEBERGEN CORPORATION CMN	$9,991,000	–	137,500	–	3.37%	–
RHT	New	RED HAT, INC. CMN	$9,595,000	–	173,600	–	3.24%	–
PCLN	New	PRICELINE GROUP INC/THE CMN	$9,371,000	–	7,790	–	3.16%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIONS CORP CLASS A	$9,331,000	–	190,782	–	3.15%	–
IPGP	New	IPG PHOTONICS CORP CMN	$9,029,000	–	131,233	–	3.04%	–
	New	AFFILIATED MANAGERS GROUP INC CMN	$8,989,000	–	43,765	–	3.03%	–
MCHP	New	MICROCHIP TECHNOLOGY CMN	$8,908,000	–	182,500	–	3.00%	–
	New	AKORN INC CMN	$8,512,000	–	256,005	–	2.87%	–
KORS	New	MICHAEL KORS HOLDINGS LIMITED CMN	$8,439,000	–	95,200	–	2.85%	–
EMC	New	EMC CORPORATION MASS CMN	$8,242,000	–	312,900	–	2.78%	–
	New	B/E AEROSPACE INC CMN	$7,950,000	–	85,950	–	2.68%	–
WHR	New	WHIRLPOOL CORP. CMN	$7,929,000	–	56,956	–	2.67%	–
	New	ALLIANCE DATA SYSTEMS CORPORAT*ION CMN	$7,862,000	–	27,953	–	2.65%	–
MRK	New	MERCK & CO., INC. CMN	$7,769,000	–	134,300	–	2.62%	–
SFLY	New	SHUTTERFLY, INC. CMN	$7,667,000	–	178,062	–	2.59%	–
MDT	New	MEDTRONIC INC CMN	$7,638,000	–	119,800	–	2.58%	–
PFPT	New	PROOFPOINT INC CMN	$7,079,000	–	188,963	–	2.39%	–
TMO	New	THERMO FISHER SCIENTIFIC INC CMN	$6,838,000	–	57,950	–	2.31%	–
CERN	New	CERNER CORP CMN	$6,641,000	–	128,750	–	2.24%	–
THC	New	TENET HEALTHCARE CORP CMN	$6,562,000	–	139,800	–	2.21%	–
CBRE	New	CBRE GROUP INC CMN	$6,528,000	–	203,750	–	2.20%	–
WEB	New	WEB.COM GROUP, INC CMN	$5,913,000	–	204,811	–	1.99%	–
MOH	New	MOLINA HEALTHCARE, INC. CMN	$5,787,000	–	129,670	–	1.95%	–
GMCR	New	KEURIG GREEN MTN INC CMN	$5,371,000	–	43,100	–	1.81%	–
AWAY	New	HOMEAWAY INC CMN	$5,207,000	–	149,549	–	1.76%	–
DAL	New	DELTA AIR LINES, INC. CMN	$4,979,000	–	128,600	–	1.68%	–
MNST	New	MONSTER BEVERAGE CORP CMN	$4,753,000	–	66,909	–	1.60%	–
BKD	New	BROOKDALE SENIOR LIVING, INC. CMN	$3,558,000	–	106,726	–	1.20%	–
PAHC	New	PHIBRO ANIMAL HEALTH CORPORATI*ON CMN CLASS A	$3,187,000	–	145,208	–	1.08%	–
QCOM	New	QUALCOMM INC CMN	$2,719,000	–	34,325	–	0.92%	–

Q4 2013

			Value		Shares		↓ Weighting
FXF	Exit	CURRENCYSHARES SWISS FRANC TR MUTUAL FUND - ETF	$0	–	-8,115	–	-0.38%	–
TECH	Exit	TECHNE CORP CMN	$0	–	-11,000	–	-0.38%	–
MNST	Exit	MONSTER BEVERAGE CORP CMN	$0	–	-56,759	–	-1.26%	–
ATML	Exit	ATMEL CORP. CMN	$0	–	-421,484	–	-1.34%	–
AWAY	Exit	HOMEAWAY INC CMN	$0	–	-112,707	–	-1.34%	–
V	Exit	VISA INC. CMN CLASS A	$0	–	-18,975	–	-1.54%	–
MM	Exit	MILLENNIAL MEDIA, INC. CMN	$0	–	-518,276	–	-1.56%	–
AMZN	Exit	AMAZON.COM INC CMN	$0	–	-13,100	–	-1.75%	–
HRC	Exit	HILL-ROM HOLDINGS, INC CMN	$0	–	-114,408	–	-1.75%	–
MA	Exit	MASTERCARD INCORPORATED CMN CLASS A	$0	–	-6,160	–	-1.77%	–
QSII	Exit	QUALITY SYSTEMS INC CMN	$0	–	-191,752	–	-1.78%	–
JPM	Exit	JPMORGAN CHASE & CO CMN	$0	–	-81,300	–	-1.79%	–
MSFT	Exit	MICROSOFT CORPORATION CMN	$0	–	-127,400	–	-1.81%	–
NXTM	Exit	NXSTAGE MEDICAL INC CMN	$0	–	-351,374	–	-1.97%	–
PFPT	Exit	PROOFPOINT INC CMN	$0	–	-147,354	–	-2.02%	–
PCP	Exit	PRECISION CASTPARTS CORP. CMN	$0	–	-20,984	–	-2.03%	–
WEB	Exit	WEB.COM GROUP, INC CMN	$0	–	-150,365	–	-2.07%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIONS CORP CLASS A	$0	–	-59,541	–	-2.08%	–
CONN	Exit	CONNS, INC. CMN	$0	–	-104,282	–	-2.22%	–
GILD	Exit	GILEAD SCIENCES CMN	$0	–	-88,500	–	-2.37%	–
ALR	Exit	ALERE INC CMN	$0	–	-192,400	–	-2.51%	–
QCOM	Exit	QUALCOMM INC CMN	$0	–	-91,590	–	-2.63%	–
KORS	Exit	MICHAEL KORS HOLDINGS LIMITED CMN	$0	–	-83,000	–	-2.64%	–
AMG	Exit	AFFILIATED MANAGERS GROUP INC CMN	$0	–	-34,546	–	-2.69%	–
INTU	Exit	INTUIT INC CMN	$0	–	-95,300	–	-2.69%	–
MON	Exit	MONSANTO COMPANY CMN	$0	–	-61,000	–	-2.71%	–
MCO	Exit	MOODYS CORP CMN	$0	–	-90,600	–	-2.72%	–
FTNT	Exit	FORTINET, INC. CMN	$0	–	-316,400	–	-2.73%	–
FB	Exit	FACEBOOK, INC. CMN CLASS A	$0	–	-127,700	–	-2.73%	–
KMX	Exit	CARMAX, INC. CMN	$0	–	-135,050	–	-2.79%	–
TMO	Exit	THERMO FISHER SCIENTIFIC INC CMN	$0	–	-71,600	–	-2.81%	–
MCHP	Exit	MICROCHIP TECHNOLOGY CMN	$0	–	-164,900	–	-2.83%	–
AKRXQ	Exit	AKORN INC CMN	$0	–	-349,656	–	-2.93%	–
BDC	Exit	BELDEN INC CMN	$0	–	-107,501	–	-2.94%	–
EPAM	Exit	EPAM SYS INC CMN	$0	–	-212,593	–	-3.13%	–
ULTA	Exit	ULTA SALON COSMETICS & FRAGRAN*CE INC. CMN	$0	–	-62,086	–	-3.16%	–
BKD	Exit	BROOKDALE SENIOR LIVING, INC. CMN	$0	–	-290,788	–	-3.26%	–
ADS	Exit	ALLIANCE DATA SYSTEMS CORPORAT*ION CMN	$0	–	-37,988	–	-3.42%	–
SBAC	Exit	SBA COMMUNICATIONS CORP CMN	$0	–	-107,900	–	-3.70%	–
WHR	Exit	WHIRLPOOL CORP. CMN	$0	–	-60,096	–	-3.75%	–
BEAV	Exit	B/E AEROSPACE INC CMN	$0	–	-125,750	–	-3.96%	–
GNCIQ	Exit	GNC HOLDINGS INC. CMN CLASS A	$0	–	-174,448	–	-4.06%	–

Q3 2013

			Value		Shares		↓ Weighting
GNCIQ	Sell	GNC HOLDINGS INC. CMN CLASS A	$9,530,000	+8.4%	174,448	-12.3%	4.06%	+4.6%
BEAV	Sell	B/E AEROSPACE INC CMN	$9,283,000	+12.7%	125,750	-3.7%	3.96%	+8.8%
WHR	Sell	WHIRLPOOL CORP. CMN	$8,800,000	+5.0%	60,096	-18.0%	3.75%	+1.4%
SBAC	Buy	SBA COMMUNICATIONS CORP CMN	$8,682,000	+11.8%	107,900	+3.0%	3.70%	+7.9%
ADS	Sell	ALLIANCE DATA SYSTEMS CORPORAT*ION CMN	$8,033,000	+1.3%	37,988	-13.2%	3.42%	-2.2%
BKD	Sell	BROOKDALE SENIOR LIVING, INC. CMN	$7,648,000	-14.0%	290,788	-13.5%	3.26%	-16.9%
ULTA	Buy	ULTA SALON COSMETICS & FRAGRAN*CE INC. CMN	$7,417,000	+37.7%	62,086	+15.4%	3.16%	+32.9%
EPAM	Sell	EPAM SYS INC CMN	$7,334,000	+18.2%	212,593	-6.9%	3.13%	+14.1%
BDC	Buy	BELDEN INC CMN	$6,885,000	+373.2%	107,501	+269.0%	2.94%	+357.2%
AKRXQ	Sell	AKORN INC CMN	$6,881,000	+1.7%	349,656	-30.2%	2.93%	-1.8%
MCHP	Sell	MICROCHIP TECHNOLOGY CMN	$6,644,000	+3.0%	164,900	-4.7%	2.83%	-0.5%
TMO	Buy	THERMO FISHER SCIENTIFIC INC CMN	$6,598,000	+23.6%	71,600	+13.5%	2.81%	+19.3%
KMX	Buy	CARMAX, INC. CMN	$6,546,000	+49.3%	135,050	+42.2%	2.79%	+44.1%
FB	New	FACEBOOK, INC. CMN CLASS A	$6,414,000	–	127,700	–	2.73%	–
FTNT	New	FORTINET, INC. CMN	$6,410,000	–	316,400	–	2.73%	–
MCO	Sell	MOODYS CORP CMN	$6,372,000	-7.3%	90,600	-19.7%	2.72%	-10.5%
MON	New	MONSANTO COMPANY CMN	$6,367,000	–	61,000	–	2.71%	–
INTU	Buy	INTUIT INC CMN	$6,319,000	+12.6%	95,300	+3.7%	2.69%	+8.7%
AMG	Buy	AFFILIATED MANAGERS GROUP INC CMN	$6,309,000	+56.2%	34,546	+40.2%	2.69%	+50.7%
KORS	Sell	MICHAEL KORS HOLDINGS LIMITED CMN	$6,185,000	+18.7%	83,000	-1.2%	2.64%	+14.6%
QCOM	Sell	QUALCOMM INC CMN	$6,166,000	-6.6%	91,590	-15.2%	2.63%	-9.8%
ALR	New	ALERE INC CMN	$5,882,000	–	192,400	–	2.51%	–
GILD	Sell	GILEAD SCIENCES CMN	$5,564,000	+2.0%	88,500	-16.8%	2.37%	-1.5%
CONN	New	CONNS, INC. CMN	$5,217,000	–	104,282	–	2.22%	–
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIONS CORP CLASS A	$4,890,000	+69.6%	59,541	+29.3%	2.08%	+63.7%
WEB	Sell	WEB.COM GROUP, INC CMN	$4,864,000	+20.4%	150,365	-4.8%	2.07%	+16.2%
PCP	Sell	PRECISION CASTPARTS CORP. CMN	$4,768,000	-22.1%	20,984	-22.5%	2.03%	-24.8%
PFPT	Sell	PROOFPOINT INC CMN	$4,733,000	-4.0%	147,354	-27.5%	2.02%	-7.3%
NXTM	Sell	NXSTAGE MEDICAL INC CMN	$4,624,000	-27.6%	351,374	-21.4%	1.97%	-30.1%
MSFT	New	MICROSOFT CORPORATION CMN	$4,240,000	–	127,400	–	1.81%	–
JPM	Sell	JPMORGAN CHASE & CO CMN	$4,202,000	-30.6%	81,300	-29.1%	1.79%	-33.0%
QSII	New	QUALITY SYSTEMS INC CMN	$4,167,000	–	191,752	–	1.78%	–
MA	New	MASTERCARD INCORPORATED CMN CLASS A	$4,144,000	–	6,160	–	1.77%	–
HRC	Sell	HILL-ROM HOLDINGS, INC CMN	$4,099,000	+2.5%	114,408	-3.6%	1.75%	-1.0%
AMZN	Sell	AMAZON.COM INC CMN	$4,096,000	-0.3%	13,100	-11.5%	1.75%	-3.8%
MM	Buy	MILLENNIAL MEDIA, INC. CMN	$3,664,000	+13.2%	518,276	+39.4%	1.56%	+9.2%
V	Sell	VISA INC. CMN CLASS A	$3,626,000	-25.3%	18,975	-28.6%	1.54%	-28.0%
AWAY	Sell	HOMEAWAY INC CMN	$3,151,000	-19.9%	112,707	-7.3%	1.34%	-22.7%
ATML	Buy	ATMEL CORP. CMN	$3,136,000	+2.1%	421,484	+0.7%	1.34%	-1.4%
MNST	New	MONSTER BEVERAGE CORP CMN	$2,966,000	–	56,759	–	1.26%	–
TECH	Sell	TECHNE CORP CMN	$881,000	-41.5%	11,000	-49.5%	0.38%	-43.5%
FXF	Sell	CURRENCYSHARES SWISS FRANC TR MUTUAL FUND - ETF	$880,000	0.0%	8,115	-4.1%	0.38%	-3.6%
PETX	Exit	ARATANA THERAPEUTICS, INC. CMN	$0	–	-25,000	–	-0.08%	–
BECN	Exit	BEACON ROOFING SUPPLY, INC. CMN	$0	–	-49,950	–	-0.84%	–
PRO	Exit	PROS HOLDINGS, INC. CMN	$0	–	-73,676	–	-0.98%	–
SMTC	Exit	SEMTECH CORP CMN	$0	–	-84,000	–	-1.30%	–
BCEI	Exit	BONANZA CREEK ENERGY, INC. CMN	$0	–	-96,400	–	-1.51%	–
HAWK	Exit	BLACKHAWK NETWORK HOLDINGS,INC CMN	$0	–	-149,453	–	-1.53%	–
SHW	Exit	SHERWIN-WILLIAMS CO CMN	$0	–	-19,663	–	-1.53%	–
ALGN	Exit	ALIGN TECHNOLOGY INC CMN	$0	–	-94,536	–	-1.55%	–
OASPQ	Exit	OASIS PETROLEM INC CMN	$0	–	-92,100	–	-1.58%	–
FAST	Exit	FASTENAL CO CMN	$0	–	-81,900	–	-1.66%	–
APH	Exit	AMPHENOL CORP CL-A (NEW) CMN CLASS A	$0	–	-55,900	–	-1.92%	–
ULTI	Exit	ULTIMATE SOFTWARE GROUP INC CMN	$0	–	-39,075	–	-2.02%	–
DKS	Exit	DICKS SPORTING GOODS INC CMN	$0	–	-117,000	–	-2.59%	–
NUVA	Exit	NUVASIVE, INC. CMN	$0	–	-301,380	–	-3.30%	–

Q2 2013

			Value		Shares		↓ Weighting
BKD	New	BROOKDALE SENIOR LIVING, INC. CMN	$8,889,000	–	336,188	–	3.92%	–
GNCIQ	New	GNC HOLDINGS INC. CMN CLASS A	$8,795,000	–	198,948	–	3.88%	–
WHR	New	WHIRLPOOL CORP. CMN	$8,382,000	–	73,296	–	3.70%	–
BEAV	New	B/E AEROSPACE INC CMN	$8,235,000	–	130,550	–	3.64%	–
ADS	New	ALLIANCE DATA SYSTEMS CORPORAT*ION CMN	$7,927,000	–	43,788	–	3.50%	–
SBAC	New	SBA COMMUNICATIONS CORP CMN	$7,768,000	–	104,800	–	3.43%	–
NUVA	New	NUVASIVE, INC. CMN	$7,471,000	–	301,380	–	3.30%	–
MCO	New	MOODYS CORP CMN	$6,873,000	–	112,800	–	3.04%	–
AKRXQ	New	AKORN INC CMN	$6,768,000	–	500,602	–	2.99%	–
QCOM	New	QUALCOMM INC CMN	$6,600,000	–	108,040	–	2.91%	–
MCHP	New	MICROCHIP TECHNOLOGY CMN	$6,448,000	–	173,100	–	2.85%	–
NXTM	New	NXSTAGE MEDICAL INC CMN	$6,386,000	–	447,190	–	2.82%	–
EPAM	New	EPAM SYS INC CMN	$6,205,000	–	228,294	–	2.74%	–
PCP	New	PRECISION CASTPARTS CORP. CMN	$6,121,000	–	27,084	–	2.70%	–
JPM	New	JPMORGAN CHASE & CO CMN	$6,055,000	–	114,700	–	2.67%	–
DKS	New	DICKS SPORTING GOODS INC CMN	$5,857,000	–	117,000	–	2.59%	–
INTU	New	INTUIT INC CMN	$5,610,000	–	91,900	–	2.48%	–
GILD	New	GILEAD SCIENCES CMN	$5,455,000	–	106,400	–	2.41%	–
ULTA	New	ULTA SALON COSMETICS & FRAGRAN*CE INC. CMN	$5,386,000	–	53,800	–	2.38%	–
TMO	New	THERMO FISHER SCIENTIFIC INC CMN	$5,340,000	–	63,100	–	2.36%	–
KORS	New	MICHAEL KORS HOLDINGS LIMITED CMN	$5,210,000	–	84,000	–	2.30%	–
PFPT	New	PROOFPOINT INC CMN	$4,929,000	–	203,254	–	2.18%	–
V	New	VISA INC. CMN CLASS A	$4,857,000	–	26,575	–	2.14%	–
ULTI	New	ULTIMATE SOFTWARE GROUP INC CMN	$4,583,000	–	39,075	–	2.02%	–
KMX	New	CARMAX, INC. CMN	$4,385,000	–	95,000	–	1.94%	–
APH	New	AMPHENOL CORP CL-A (NEW) CMN CLASS A	$4,357,000	–	55,900	–	1.92%	–
AMZN	New	AMAZON.COM INC CMN	$4,110,000	–	14,800	–	1.82%	–
WEB	New	WEB.COM GROUP, INC CMN	$4,041,000	–	157,865	–	1.78%	–
AMG	New	AFFILIATED MANAGERS GROUP INC CMN	$4,040,000	–	24,646	–	1.78%	–
HRC	New	HILL-ROM HOLDINGS, INC CMN	$3,998,000	–	118,708	–	1.76%	–
AWAY	New	HOMEAWAY INC CMN	$3,933,000	–	121,607	–	1.74%	–
FAST	New	FASTENAL CO CMN	$3,750,000	–	81,900	–	1.66%	–
OASPQ	New	OASIS PETROLEM INC CMN	$3,580,000	–	92,100	–	1.58%	–
ALGN	New	ALIGN TECHNOLOGY INC CMN	$3,502,000	–	94,536	–	1.55%	–
SHW	New	SHERWIN-WILLIAMS CO CMN	$3,472,000	–	19,663	–	1.53%	–
HAWK	New	BLACKHAWK NETWORK HOLDINGS,INC CMN	$3,467,000	–	149,453	–	1.53%	–
BCEI	New	BONANZA CREEK ENERGY, INC. CMN	$3,418,000	–	96,400	–	1.51%	–
MM	New	MILLENNIAL MEDIA, INC. CMN	$3,238,000	–	371,800	–	1.43%	–
ATML	New	ATMEL CORP. CMN	$3,072,000	–	418,584	–	1.36%	–
SMTC	New	SEMTECH CORP CMN	$2,943,000	–	84,000	–	1.30%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIONS CORP CLASS A	$2,884,000	–	46,041	–	1.27%	–
PRO	New	PROS HOLDINGS, INC. CMN	$2,207,000	–	73,676	–	0.98%	–
BECN	New	BEACON ROOFING SUPPLY, INC. CMN	$1,892,000	–	49,950	–	0.84%	–
TECH	New	TECHNE CORP CMN	$1,506,000	–	21,800	–	0.66%	–
BDC	New	BELDEN INC CMN	$1,455,000	–	29,135	–	0.64%	–
FXF	New	CURRENCYSHARES SWISS FRANC TR MUTUAL FUND - ETF	$880,000	–	8,465	–	0.39%	–
PETX	New	ARATANA THERAPEUTICS, INC. CMN	$189,000	–	25,000	–	0.08%	–

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