Columbus Hill Capital Management, L.P. Activity Q4 2006-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
THC	Sell	TENET HEALTHCARE CORP	$20,694,534	-47.1%	314,077	-34.7%	7.60%	-40.5%
QQQ	New	INVESCO QQQ TRput	$17,913,500	–	50,000	–	6.58%	–
	New	ARM HOLDINGS PLCsponsored adr	$535,200	–	10,000	–	0.20%	–
	New	KLAVIYO INC	$17,250	–	500	–	0.01%	–
	Exit	CYXTERA TECHNOLOGIES INC	$0	–	-676,092	–	-0.01%	–
	Exit	KENVUE INC	$0	–	-5,000	–	-0.04%	–
TSLA	Exit	TESLA INCput	$0	–	-4,600	–	-0.39%	–
PCG	Exit	PG&E CORP	$0	–	-145,000	–	-0.82%	–
AAPL	Exit	APPLE INCput	$0	–	-17,500	–	-1.11%	–
CRM	Exit	SALESFORCE INC	$0	–	-89,500	–	-6.17%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-226,300	–	-6.22%	–

Q2 2023

			Value		Shares		↓ Weighting
THC	New	TENET HEALTHCARE CORP	$39,141,908	–	480,977	–	12.77%	–
HUM	New	HUMANA INC	$38,962,461	–	87,139	–	12.71%	–
AMZN	New	AMAZON COM INC	$27,369,473	–	209,953	–	8.93%	–
HTHT	New	H WORLD GROUP LTDsponsored ads	$24,266,624	–	625,751	–	7.92%	–
MAR	New	MARRIOTT INTL INC NEWcl a	$23,896,599	–	130,092	–	7.80%	–
MSFT	New	MICROSOFT CORP	$21,029,026	–	61,752	–	6.86%	–
MA	New	MASTERCARD INCORPORATEDcl a	$19,095,895	–	48,553	–	6.23%	–
ATVI	New	ACTIVISION BLIZZARD INC	$19,077,090	–	226,300	–	6.22%	–
CRM	New	SALESFORCE INC	$18,907,770	–	89,500	–	6.17%	–
CF	New	CF INDS HLDGS INC	$16,685,444	–	240,355	–	5.44%	–
UBS	New	UBS GROUP AG	$15,302,729	–	757,000	–	4.99%	–
	New	GRAB HOLDINGS LIMITEDcl a ord	$13,839,429	–	4,034,819	–	4.51%	–
URI	New	UNITED RENTALS INC	$9,864,055	–	22,148	–	3.22%	–
V	New	VISA INC	$9,066,511	–	38,178	–	2.96%	–
AAPL	New	APPLE INCput	$3,394,475	–	17,500	–	1.11%	–
NOW	New	SERVICENOW INC	$2,809,850	–	5,000	–	0.92%	–
PCG	New	PG&E CORP	$2,505,600	–	145,000	–	0.82%	–
TSLA	New	TESLA INCput	$1,204,142	–	4,600	–	0.39%	–
	New	KENVUE INC	$132,100	–	5,000	–	0.04%	–
	New	CYXTERA TECHNOLOGIES INC	$19,302	–	676,092	–	0.01%	–

Q4 2022

			Value		Shares		↓ Weighting
WDAY	Exit	WORKDAY INCcl a	$0	–	-11,500	–	-0.62%	–
NOW	Exit	SERVICENOW INC	$0	–	-5,000	–	-0.67%	–
ETRN	Exit	EQUITRANS MIDSTREAM CORP	$0	–	-756,092	–	-2.02%	–
V	Exit	VISA INC	$0	–	-37,300	–	-2.36%	–
	Exit	GRAB HOLDINGS LIMITEDcl a ord	$0	–	-3,367,961	–	-3.16%	–
URI	Exit	UNITED RENTALS INC	$0	–	-40,373	–	-3.89%	–
HTHT	Exit	H WORLD GROUP LTDsponsored ads	$0	–	-401,708	–	-4.80%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-47,988	–	-4.87%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-61,034	–	-5.07%	–
SJR	Exit	SHAW COMMUNICATIONS INCcl b conv	$0	–	-741,745	–	-6.42%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-744,890	–	-7.04%	–
MAR	Exit	MARRIOTT INTL INC NEWcl a	$0	–	-141,428	–	-7.07%	–
AMZN	Exit	AMAZON COM INC	$0	–	-207,520	–	-8.36%	–
CF	Exit	CF INDS HLDGS INC	$0	–	-362,245	–	-12.43%	–
HUM	Exit	HUMANA INC	$0	–	-77,911	–	-13.48%	–
	Exit	CONSTELLATION ENERGY CORP	$0	–	-597,731	–	-17.73%	–

Q3 2022

			Value		Shares		↓ Weighting
	New	CONSTELLATION ENERGY CORP	$49,725,000	–	597,731	–	17.73%	–
CF	Sell	CF INDS HLDGS INC	$34,866,000	-3.0%	362,245	-13.6%	12.43%	-17.9%
HTHT	Sell	H WORLD GROUP LTDsponsored ads	$13,473,000	-15.1%	401,708	-3.6%	4.80%	-28.2%
	Buy	GRAB HOLDINGS LIMITEDcl a ord	$8,858,000	+5.5%	3,367,961	+1.5%	3.16%	-10.7%
V	New	VISA INC	$6,626,000	–	37,300	–	2.36%	–
ETRN	New	EQUITRANS MIDSTREAM CORP	$5,656,000	–	756,092	–	2.02%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-625	–	-0.46%	–
RCL	Exit	ROYAL CARIBBEAN GROUP	$0	–	-222,351	–	-3.27%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-4,078	–	-3.74%	–

Q2 2022

			Value		Shares		↓ Weighting
HUM	New	HUMANA INC	$36,468,000	–	77,911	–	15.36%	–
CF	New	CF INDS HLDGS INC	$35,950,000	–	419,345	–	15.14%	–
AMZN	New	AMAZON COM INC	$22,041,000	–	207,520	–	9.28%	–
SJR	New	SHAW COMMUNICATIONS INCcl b conv	$21,856,000	–	741,745	–	9.21%	–
MAR	New	MARRIOTT INTL INC NEWcl a	$19,236,000	–	141,428	–	8.10%	–
HTHT	New	HUAZHU GROUP LTDsponsored ads	$15,877,000	–	416,708	–	6.69%	–
MSFT	New	MICROSOFT CORP	$15,675,000	–	61,034	–	6.60%	–
UBER	New	UBER TECHNOLOGIES INC	$15,240,000	–	744,890	–	6.42%	–
MA	New	MASTERCARD INCORPORATEDcl a	$15,139,000	–	47,988	–	6.38%	–
URI	New	UNITED RENTALS INC	$9,807,000	–	40,373	–	4.13%	–
GOOGL	New	ALPHABET INCcap stk cl a	$8,887,000	–	4,078	–	3.74%	–
	New	GRAB HOLDINGS LIMITEDcl a ord	$8,394,000	–	3,317,961	–	3.54%	–
RCL	New	ROYAL CARIBBEAN GROUP	$7,762,000	–	222,351	–	3.27%	–
NOW	New	SERVICENOW INC	$2,378,000	–	5,000	–	1.00%	–
WDAY	New	WORKDAY INCcl a	$1,605,000	–	11,500	–	0.68%	–
BKNG	New	BOOKING HOLDINGS INC	$1,093,000	–	625	–	0.46%	–

Q4 2021

			Value		Shares		↓ Weighting
	Exit	OWLET INC*w exp 09/14/202	$0	–	-202,247	–	-0.02%	–
	Exit	ASHFORD HOSPITALITY TR INC	$0	–	-39,250	–	-0.05%	–
	Exit	CARIBOU BIOSCIENCES INC	$0	–	-25,000	–	-0.05%	–
UBER	Exit	UBER TECHNOLOGIES INCcall	$0	–	-37,000	–	-0.14%	–
T	Exit	AT&T INC	$0	–	-103,000	–	-0.24%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-18,500	–	-0.39%	–
AMZN	Exit	AMAZON COM INCcall	$0	–	-1,800	–	-0.50%	–
OUT	Exit	OUTFRONT MEDIA INC	$0	–	-257,423	–	-0.55%	–
DNMR	Exit	DANIMER SCIENTIFIC INC	$0	–	-441,258	–	-0.61%	–
AGC	Exit	ALTIMETER GROWTH CORPcl a	$0	–	-825,121	–	-0.72%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-16,750	–	-0.89%	–
PLAN	Exit	ANAPLAN INC	$0	–	-187,639	–	-0.97%	–
GM	Exit	GENERAL MTRS COcall	$0	–	-220,000	–	-0.99%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-4,450	–	-1.01%	–
SPR	Exit	SPIRIT AEROSYSTEMS HLDGS INC	$0	–	-286,532	–	-1.08%	–
NCLH	Exit	NORWEGIAN CRUISE LINE HLDG L	$0	–	-605,000	–	-1.38%	–
SVC	Exit	SERVICE PPTYS TR	$0	–	-1,840,290	–	-1.76%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-60,492	–	-1.79%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-65,648	–	-2.18%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-91,588	–	-2.20%	–
NOW	Exit	SERVICENOW INC	$0	–	-42,723	–	-2.26%	–
URI	Exit	UNITED RENTALS INC	$0	–	-79,285	–	-2.37%	–
HCA	Exit	HCA HEALTHCARE INC	$0	–	-119,721	–	-2.47%	–
BA	Exit	BOEING CO	$0	–	-138,484	–	-2.59%	–
CF	Exit	CF INDS HLDGS INC	$0	–	-645,249	–	-3.06%	–
SJR	Exit	SHAW COMMUNICATIONS INCcl b conv	$0	–	-1,494,431	–	-3.69%	–
MAR	Exit	MARRIOTT INTL INC NEWcl a	$0	–	-299,040	–	-3.77%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-1,057,800	–	-4.03%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-155,202	–	-4.48%	–
SE	Exit	SEA LTDsponsored ads	$0	–	-166,882	–	-4.52%	–
HUM	Exit	HUMANA INC	$0	–	-140,742	–	-4.66%	–
RCL	Exit	ROYAL CARIBBEAN GROUP	$0	–	-691,552	–	-5.23%	–
AMZN	Exit	AMAZON COM INC	$0	–	-21,385	–	-5.98%	–
SPY	Exit	SPDR S&P 500 ETF TRcall	$0	–	-914,500	–	-33.38%	–

Q3 2021

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRcall	$392,449,000	–	914,500	–	33.38%	–
AMZN	Buy	AMAZON COM INC	$70,251,000	+11.9%	21,385	+17.2%	5.98%	-20.4%
RCL	Buy	ROYAL CARIBBEAN GROUP	$61,514,000	+14.0%	691,552	+9.3%	5.23%	-18.9%
HUM	New	HUMANA INC	$54,770,000	–	140,742	–	4.66%	–
UBER	Buy	UBER TECHNOLOGIES INC	$47,389,000	+20.8%	1,057,800	+35.1%	4.03%	-14.1%
MAR	Buy	MARRIOTT INTL INC NEWcl a	$44,285,000	+25.9%	299,040	+16.0%	3.77%	-10.4%
CF	Buy	CF INDS HLDGS INC	$36,018,000	+34.6%	645,249	+24.1%	3.06%	-4.2%
BA	Sell	BOEING CO	$30,458,000	-18.2%	138,484	-10.9%	2.59%	-41.8%
HCA	Sell	HCA HEALTHCARE INC	$29,059,000	+8.6%	119,721	-7.5%	2.47%	-22.7%
URI	Buy	UNITED RENTALS INC	$27,823,000	+166.8%	79,285	+142.6%	2.37%	+90.0%
NCLH	Buy	NORWEGIAN CRUISE LINE HLDG L	$16,160,000	+32.3%	605,000	+45.6%	1.38%	-5.8%
GOOGL	Buy	ALPHABET INCcap stk cl a	$11,897,000	+549.8%	4,450	+493.3%	1.01%	+362.1%
GM	New	GENERAL MTRS COcall	$11,596,000	–	220,000	–	0.99%	–
TDG	New	TRANSDIGM GROUP INC	$10,462,000	–	16,750	–	0.89%	–
AGC	New	ALTIMETER GROWTH CORPcl a	$8,433,000	–	825,121	–	0.72%	–
OUT	Sell	OUTFRONT MEDIA INC	$6,487,000	-79.7%	257,423	-80.6%	0.55%	-85.5%
AMZN	Sell	AMAZON COM INCcall	$5,913,000	-80.5%	1,800	-79.5%	0.50%	-86.1%
UBER	New	UBER TECHNOLOGIES INCcall	$1,658,000	–	37,000	–	0.14%	–
	New	CARIBOU BIOSCIENCES INC	$597,000	–	25,000	–	0.05%	–
	New	ASHFORD HOSPITALITY TR INC	$578,000	–	39,250	–	0.05%	–
	New	OWLET INC*w exp 09/14/202	$190,000	–	202,247	–	0.02%	–
DIDI	Exit	DIDI GLOBAL INCsponsored ads	$0	–	-1,146,000	–	-1.94%	–
JD	Exit	JD.COM INCspon adr cl a	$0	–	-204,541	–	-1.95%	–
XLF	Exit	SELECT SECTOR SPDR TRcall	$0	–	-504,000	–	-2.21%	–
ABEV	Exit	AMBEV SAsponsored adr	$0	–	-9,245,476	–	-3.80%	–
LVS	Exit	LAS VEGAS SANDS CORP	$0	–	-715,526	–	-4.51%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-942,418	–	-5.10%	–

Q2 2021

			Value		Shares		↓ Weighting
AMZN	New	AMAZON COM INC	$62,783,000	–	18,250	–	7.50%	–
RCL	New	ROYAL CARIBBEAN GROUP	$53,977,000	–	632,933	–	6.45%	–
FB	New	FACEBOOK INCcl a	$53,965,000	–	155,202	–	6.45%	–
SE	New	SEA LTDsponsored ads	$45,826,000	–	166,882	–	5.48%	–
SJR	New	SHAW COMMUNICATIONS INCcl b conv	$43,292,000	–	1,494,431	–	5.17%	–
WFC	New	WELLS FARGO CO NEW	$42,682,000	–	942,418	–	5.10%	–
UBER	New	UBER TECHNOLOGIES INC	$39,239,000	–	782,900	–	4.69%	–
LVS	New	LAS VEGAS SANDS CORP	$37,701,000	–	715,526	–	4.51%	–
BA	New	BOEING CO	$37,224,000	–	155,384	–	4.45%	–
MAR	New	MARRIOTT INTL INC NEWcl a	$35,187,000	–	257,740	–	4.21%	–
OUT	New	OUTFRONT MEDIA INC	$31,896,000	–	1,327,339	–	3.81%	–
ABEV	New	AMBEV SAsponsored adr	$31,804,000	–	9,245,476	–	3.80%	–
AMZN	New	AMAZON COM INCcall	$30,273,000	–	8,800	–	3.62%	–
HCA	New	HCA HEALTHCARE INC	$26,762,000	–	129,449	–	3.20%	–
CF	New	CF INDS HLDGS INC	$26,750,000	–	519,929	–	3.20%	–
UNH	New	UNITEDHEALTH GROUP INC	$26,288,000	–	65,648	–	3.14%	–
MSFT	New	MICROSOFT CORP	$24,811,000	–	91,588	–	2.96%	–
NOW	New	SERVICENOW INC	$23,478,000	–	42,723	–	2.81%	–
SVC	New	SERVICE PPTYS TR	$23,188,000	–	1,840,290	–	2.77%	–
MA	New	MASTERCARD INCORPORATEDcl a	$22,085,000	–	60,492	–	2.64%	–
XLF	New	SELECT SECTOR SPDR TRcall	$18,492,000	–	504,000	–	2.21%	–
JD	New	JD.COM INCspon adr cl a	$16,324,000	–	204,541	–	1.95%	–
DIDI	New	DIDI GLOBAL INCsponsored ads	$16,204,000	–	1,146,000	–	1.94%	–
SPR	New	SPIRIT AEROSYSTEMS HLDGS INC	$13,521,000	–	286,532	–	1.62%	–
NCLH	New	NORWEGIAN CRUISE LINE HLDG L	$12,217,000	–	415,400	–	1.46%	–
DNMR	New	DANIMER SCIENTIFIC INC	$11,054,000	–	441,258	–	1.32%	–
URI	New	UNITED RENTALS INC	$10,427,000	–	32,685	–	1.25%	–
PLAN	New	ANAPLAN INC	$10,001,000	–	187,639	–	1.20%	–
WDAY	New	WORKDAY INCcl a	$4,417,000	–	18,500	–	0.53%	–
T	New	AT&T INC	$2,964,000	–	103,000	–	0.35%	–
GOOGL	New	ALPHABET INCcap stk cl a	$1,831,000	–	750	–	0.22%	–

Q4 2020

			Value		Shares		↓ Weighting
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-500	–	-0.11%	–
BBD	Exit	BANCO BRADESCO S Asp adr pfd new	$0	–	-390,000	–	-0.17%	–
HLT	Exit	HILTON WORLDWIDE HLDGS INC	$0	–	-20,000	–	-0.22%	–
EIX	Exit	EDISON INTL	$0	–	-40,000	–	-0.26%	–
CLXT	Exit	CALYXT INC	$0	–	-503,507	–	-0.35%	–
PLAN	Exit	ANAPLAN INC	$0	–	-84,563	–	-0.68%	–
	Exit	AMERICAN AIRLS GROUP INCnote 6.500% 7/0	$0	–	-7,500,000	–	-0.88%	–
CQP	Exit	CHENIERE ENERGY PARTNERS LP	$0	–	-208,799	–	-0.89%	–
MGM	Exit	MGM RESORTS INTERNATIONAL	$0	–	-427,754	–	-1.19%	–
ACC	Exit	AMERICAN CAMPUS CMNTYS INC	$0	–	-316,068	–	-1.41%	–
UBER	Exit	UBER TECHOLOGIES INC	$0	–	-329,000	–	-1.54%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-76,000	–	-2.09%	–
EXPE	Exit	EXPEDIA GROUP INC	$0	–	-207,455	–	-2.44%	–
V	Exit	VISA INC	$0	–	-107,952	–	-2.76%	–
THC	Exit	TENET HEALTHCARE CORP	$0	–	-964,724	–	-3.03%	–
CNC	Exit	CENTENE CORP DEL	$0	–	-407,378	–	-3.04%	–
URI	Exit	UNITED RENTALS INC	$0	–	-139,457	–	-3.12%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-74,297	–	-3.22%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-134,674	–	-3.63%	–
ABEV	Exit	AMBEV SAsponsored adr	$0	–	-12,533,175	–	-3.63%	–
HCA	Exit	HCA HEALTHCARE INC	$0	–	-244,734	–	-3.91%	–
FE	Exit	FIRSTENERGY CORP	$0	–	-1,195,064	–	-4.39%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-301,772	–	-4.42%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-141,682	–	-4.75%	–
WYNN	Exit	WYNN RESORTS LTD	$0	–	-518,808	–	-4.77%	–
LVS	Exit	LAS VEGAS SANDS CORP	$0	–	-837,713	–	-5.00%	–
DFS	Exit	DISCOVER FINL SVCS	$0	–	-696,512	–	-5.15%	–
NOW	Exit	SERVICENOW INC	$0	–	-83,358	–	-5.18%	–
MAR	Exit	MARRIOTT INTL INC NEWcl a	$0	–	-440,978	–	-5.23%	–
AMZN	Exit	AMAZON COM INC	$0	–	-13,855	–	-5.58%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-220,142	–	-8.28%	–
SE	Exit	SEA LTDsponsored ads	$0	–	-440,829	–	-8.69%	–

Q3 2020

			Value		Shares		↓ Weighting
SE	Sell	SEA LTDsponsored ads	$67,905,000	+40.0%	440,829	-2.5%	8.69%	+23.5%
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$64,717,000	+27.0%	220,142	-6.9%	8.28%	+12.0%
AMZN	Sell	AMAZON COM INC	$43,626,000	-11.3%	13,855	-22.3%	5.58%	-21.8%
MAR	Buy	MARRIOTT INTL INC NEWcl a	$40,826,000	+44.7%	440,978	+34.0%	5.23%	+27.6%
DFS	Buy	DISCOVER FINL SVCS	$40,244,000	+48.2%	696,512	+28.4%	5.15%	+30.7%
LVS	Buy	LAS VEGAS SANDS CORP	$39,088,000	+10.2%	837,713	+7.5%	5.00%	-2.8%
WYNN	Buy	WYNN RESORTS LTD	$37,256,000	+61.2%	518,808	+67.2%	4.77%	+42.2%
TMUS	Buy	T-MOBILE US INC	$34,511,000	+10.5%	301,772	+0.7%	4.42%	-2.5%
FE	New	FIRSTENERGY CORP	$34,310,000	–	1,195,064	–	4.39%	–
HCA	Sell	HCA HEALTHCARE INC	$30,513,000	-28.3%	244,734	-44.2%	3.91%	-36.8%
ABEV	Buy	AMBEV SAsponsored adr	$28,325,000	-0.1%	12,533,175	+16.7%	3.63%	-11.9%
MA	Sell	MASTERCARD INCORPORATEDcl a	$25,125,000	+11.5%	74,297	-2.5%	3.22%	-1.7%
URI	Sell	UNITED RENTALS INC	$24,335,000	+14.1%	139,457	-2.5%	3.12%	+0.6%
CNC	Buy	CENTENE CORP DEL	$23,762,000	-0.9%	407,378	+7.9%	3.04%	-12.6%
THC	Buy	TENET HEALTHCARE CORP	$23,645,000	+62.6%	964,724	+20.2%	3.03%	+43.5%
V	Sell	VISA INC	$21,587,000	+0.9%	107,952	-2.5%	2.76%	-11.0%
EXPE	Buy	EXPEDIA GROUP INC	$19,022,000	+82.2%	207,455	+63.4%	2.44%	+60.7%
WDAY	Buy	WORKDAY INCcl a	$16,350,000	+481.9%	76,000	+406.7%	2.09%	+413.0%
UBER	Buy	UBER TECHOLOGIES INC	$12,002,000	+29.8%	329,000	+10.6%	1.54%	+14.5%
ACC	New	AMERICAN CAMPUS CMNTYS INC	$11,037,000	–	316,068	–	1.41%	–
MGM	New	MGM RESORTS INTERNATIONAL	$9,304,000	–	427,754	–	1.19%	–
PLAN	New	ANAPLAN INC	$5,292,000	–	84,563	–	0.68%	–
EIX	Sell	EDISON INTL	$2,034,000	-86.3%	40,000	-85.4%	0.26%	-87.9%
HLT	Sell	HILTON WORLDWIDE HLDGS INC	$1,706,000	-45.0%	20,000	-52.7%	0.22%	-51.7%
BBD	New	BANCO BRADESCO S Asp adr pfd new	$1,338,000	–	390,000	–	0.17%	–
BKNG	New	BOOKING HOLDINGS INC	$855,000	–	500	–	0.11%	–
TMUSR	Exit	T-MOBILE US INCright 07/27/2020	$0	–	-178,100	–	-0.00%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-13,000	–	-0.33%	–
PCG	Exit	PG&E CORP	$0	–	-415,400	–	-0.54%	–
LYFT	Exit	LYFT INC	$0	–	-303,000	–	-1.45%	–
QQQ	Exit	INVESCO QQQ TRput	$0	–	-687	–	-2.47%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-38,818	–	-2.49%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-66,453	–	-2.84%	–

Q2 2020

			Value		Shares		↓ Weighting
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$50,977,000	–	236,332	–	7.40%	–
AMZN	New	AMAZON COM INC	$49,190,000	–	17,830	–	7.14%	–
SE	New	SEA LTDsponsored ads	$48,501,000	–	452,270	–	7.04%	–
HCA	New	HCA HEALTHCARE INC	$42,573,000	–	438,627	–	6.18%	–
LVS	New	LAS VEGAS SANDS CORP	$35,473,000	–	778,941	–	5.15%	–
NOW	New	SERVICENOW INC	$33,765,000	–	83,358	–	4.90%	–
FB	New	FACEBOOK INCcl a	$32,172,000	–	141,682	–	4.67%	–
TMUS	New	T-MOBILE US INC	$31,224,000	–	299,800	–	4.53%	–
ABEV	New	AMBEV SAsponsored adr	$28,360,000	–	10,742,520	–	4.12%	–
MAR	New	MARRIOTT INTL INC NEWcl a	$28,220,000	–	329,171	–	4.10%	–
MSFT	New	MICROSOFT CORP	$27,408,000	–	134,674	–	3.98%	–
DFS	New	DISCOVER FINL SVCS	$27,164,000	–	542,312	–	3.94%	–
CNC	New	CENTENE CORP DEL	$23,982,000	–	377,378	–	3.48%	–
WYNN	New	WYNN RESORTS LTD	$23,112,000	–	310,268	–	3.35%	–
MA	New	MASTERCARD INCORPORATEDcl a	$22,541,000	–	76,229	–	3.27%	–
V	New	VISA INC	$21,397,000	–	110,768	–	3.11%	–
URI	New	UNITED RENTALS INC	$21,324,000	–	143,076	–	3.10%	–
UNH	New	UNITEDHEALTH GROUP INC	$19,600,000	–	66,453	–	2.84%	–
TDG	New	TRANSDIGM GROUP INC	$17,159,000	–	38,818	–	2.49%	–
QQQ	New	INVESCO QQQ TRput	$17,010,000	–	687	–	2.47%	–
EIX	New	EDISON INTL	$14,837,000	–	273,200	–	2.15%	–
THC	New	TENET HEALTHCARE CORP	$14,539,000	–	802,839	–	2.11%	–
EXPE	New	EXPEDIA GROUP INC	$10,439,000	–	127,000	–	1.52%	–
LYFT	New	LYFT INC	$10,002,000	–	303,000	–	1.45%	–
UBER	New	UBER TECHOLOGIES INC	$9,244,000	–	297,427	–	1.34%	–
CQP	New	CHENIERE ENERGY PARTNERS LP	$7,304,000	–	208,799	–	1.06%	–
	New	AMERICAN AIRLS GROUP INCnote 6.500% 7/0	$7,106,000	–	7,500,000	–	1.03%	–
PCG	New	PG&E CORP	$3,685,000	–	415,400	–	0.54%	–
HLT	New	HILTON WORLDWIDE HLDGS INC	$3,104,000	–	42,255	–	0.45%	–
WDAY	New	WORKDAY INCcl a	$2,810,000	–	15,000	–	0.41%	–
CLXT	New	CALYXT INC	$2,482,000	–	503,507	–	0.36%	–
PYPL	New	PAYPAL HLDGS INC	$2,265,000	–	13,000	–	0.33%	–
TMUSR	New	T-MOBILE US INCright 07/27/2020	$30,000	–	178,100	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
MCO	Exit	MOODYS CORP	$0	–	-9,900	–	-0.25%	–
CLXT	Exit	CALYXT INC	$0	–	-440,401	–	-0.31%	–
DFS	Exit	DISCOVER FINL SVCS	$0	–	-42,000	–	-0.43%	–
AXTA	Exit	AXALTA COATING SYS LTD	$0	–	-119,603	–	-0.45%	–
CWEN	Exit	CLEARWAY ENERGY INCcl c	$0	–	-276,028	–	-0.63%	–
PCG	Exit	PG&E CORP	$0	–	-592,520	–	-0.74%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-31,000	–	-0.84%	–
BAC	Exit	BANK AMER CORP	$0	–	-234,000	–	-0.86%	–
C	Exit	CITIGROUP INC	$0	–	-100,000	–	-0.86%	–
CQP	Exit	CHENIERE ENERGY PARTNERS LP	$0	–	-152,628	–	-0.87%	–
INTEQ	Exit	INTELSAT S A	$0	–	-566,388	–	-1.62%	–
QCOM	Exit	QUALCOMM INC	$0	–	-194,977	–	-1.86%	–
NFLX	Exit	NETFLIX INC	$0	–	-57,400	–	-1.92%	–
PCG	Exit	PG&E CORPcall	$0	–	-1,600,000	–	-2.00%	–
NOW	Exit	SERVICENOW INC	$0	–	-66,165	–	-2.10%	–
EFX	Exit	EQUIFAX INC	$0	–	-124,145	–	-2.19%	–
URI	Exit	UNITED RENTALS INC	$0	–	-165,972	–	-2.59%	–
ZTS	Exit	ZOETIS INCcl a	$0	–	-166,994	–	-2.60%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-18,400	–	-2.81%	–
LVS	Exit	LAS VEGAS SANDS CORP	$0	–	-398,184	–	-2.88%	–
DIS	Exit	DISNEY WALT CO	$0	–	-211,669	–	-3.45%	–
HUM	Exit	HUMANA INC	$0	–	-112,759	–	-3.61%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-217,881	–	-3.79%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-175,619	–	-3.92%	–
CF	Exit	CF INDS HLDGS INC	$0	–	-642,585	–	-3.96%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-889,031	–	-4.77%	–
AGN	Exit	ALLERGAN PLC	$0	–	-240,100	–	-5.06%	–
WYNN	Exit	WYNN RESORTS LTD	$0	–	-382,404	–	-5.20%	–
V	Exit	VISA INC	$0	–	-275,393	–	-5.93%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-178,214	–	-6.06%	–
SE	Exit	SEA LTDsponsored ads	$0	–	-1,676,360	–	-6.50%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-436,140	–	-9.13%	–
TSN	Exit	TYSON FOODS INCcl a	$0	–	-908,649	–	-9.80%	–

Q3 2019

			Value		Shares		↓ Weighting
TSN	Buy	TYSON FOODS INCcl a	$78,271,000	+12.3%	908,649	+5.2%	9.80%	+52.9%
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$72,936,000	-10.5%	436,140	-9.3%	9.13%	+21.9%
SE	Sell	SEA LTDsponsored ads	$51,883,000	-38.3%	1,676,360	-33.7%	6.50%	-15.9%
MA	Sell	MASTERCARD INCcl a	$48,398,000	-15.8%	178,214	-18.0%	6.06%	+14.7%
V	Sell	VISA INC	$47,370,000	-16.3%	275,393	-15.5%	5.93%	+14.0%
WYNN	Sell	WYNN RESORTS LTD	$41,575,000	-35.1%	382,404	-25.9%	5.20%	-11.5%
AGN	New	ALLERGAN PLC	$40,406,000	–	240,100	–	5.06%	–
MU	Buy	MICRON TECHNOLOGY INC	$38,095,000	+21.0%	889,031	+9.0%	4.77%	+64.8%
CF	Sell	CF INDS HLDGS INC	$31,615,000	-27.9%	642,585	-31.6%	3.96%	-1.8%
FB	Buy	FACEBOOK INCcl a	$31,274,000	+12.0%	175,619	+21.4%	3.92%	+52.5%
MSFT	Sell	MICROSOFT CORP	$30,292,000	-39.4%	217,881	-41.6%	3.79%	-17.5%
HUM	Sell	HUMANA INC	$28,829,000	-6.2%	112,759	-2.7%	3.61%	+27.8%
DIS	Sell	DISNEY WALT CO	$27,585,000	-22.4%	211,669	-16.8%	3.45%	+5.7%
LVS	Sell	LAS VEGAS SANDS CORP	$22,999,000	-36.8%	398,184	-35.3%	2.88%	-13.9%
GOOGL	New	ALPHABET INCcap stk cl a	$22,469,000	–	18,400	–	2.81%	–
ZTS	Sell	ZOETIS INCcl a	$20,806,000	+6.8%	166,994	-2.7%	2.60%	+45.5%
URI	Sell	UNITED RENTALS INC	$20,687,000	-45.1%	165,972	-41.6%	2.59%	-25.2%
EFX	Sell	EQUIFAX INC	$17,463,000	+1.2%	124,145	-2.7%	2.19%	+37.9%
NOW	Sell	SERVICENOW INC	$16,796,000	-45.4%	66,165	-41.0%	2.10%	-25.6%
PCG	New	PG&E CORPcall	$16,000,000	–	1,600,000	–	2.00%	–
NFLX	New	NETFLIX INC	$15,361,000	–	57,400	–	1.92%	–
QCOM	Sell	QUALCOMM INC	$14,873,000	-9.9%	194,977	-10.1%	1.86%	+22.7%
INTEQ	New	INTELSAT S A	$12,914,000	–	566,388	–	1.62%	–
C	New	CITIGROUP INC	$6,908,000	–	100,000	–	0.86%	–
BAC	New	BANK AMER CORP	$6,826,000	–	234,000	–	0.86%	–
UNH	New	UNITEDHEALTH GROUP INC	$6,737,000	–	31,000	–	0.84%	–
PCG	Sell	PG&E CORP	$5,925,000	-96.3%	592,520	-91.5%	0.74%	-95.0%
AXTA	New	AXALTA COATING SYS LTD	$3,606,000	–	119,603	–	0.45%	–
DFS	New	DISCOVER FINL SVCS	$3,406,000	–	42,000	–	0.43%	–
ADPT	Exit	ADAPTIVE BIOTECHNOLOGIES COR	$0	–	-1,000	–	-0.00%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-20,000	–	-0.13%	–
	Exit	SEA LTDdebt 2.250% 7/0	$0	–	-4,850,000	–	-0.81%	–
WYNN	Exit	WYNN RESORTS LTDcall	$0	–	-107,000	–	-1.22%	–
XLK	Exit	SELECT SECTOR SPDR TRtechnology	$0	–	-194,000	–	-1.39%	–
XLK	Exit	SELECT SECTOR SPDR TRcall	$0	–	-236,000	–	-1.69%	–
EIX	Exit	EDISON INTL	$0	–	-912,584	–	-5.65%	–

Q2 2019

			Value		Shares		↓ Weighting
PCG	New	PG&E CORP	$160,075,000	–	6,984,057	–	14.71%	–
SE	New	SEA LTDsponsored ads	$84,048,000	–	2,530,048	–	7.72%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$81,478,000	–	480,840	–	7.49%	–
TSN	New	TYSON FOODS INCcl a	$69,729,000	–	863,623	–	6.41%	–
WYNN	New	WYNN RESORTS LTD	$64,017,000	–	516,304	–	5.88%	–
EIX	New	EDISON INTL	$61,517,000	–	912,584	–	5.65%	–
MA	New	MASTERCARD INCcl a	$57,468,000	–	217,246	–	5.28%	–
V	New	VISA INC	$56,585,000	–	326,044	–	5.20%	–
MSFT	New	MICROSOFT CORP	$50,021,000	–	373,403	–	4.60%	–
CF	New	CF INDS HLDGS INC	$43,870,000	–	939,191	–	4.03%	–
URI	New	UNITED RENTALS INC	$37,680,000	–	284,102	–	3.46%	–
LVS	New	LAS VEGAS SANDS CORP	$36,363,000	–	615,384	–	3.34%	–
DIS	New	DISNEY WALT CO	$35,538,000	–	254,500	–	3.27%	–
MU	New	MICRON TECHNOLOGY INC	$31,487,000	–	815,931	–	2.89%	–
NOW	New	SERVICENOW INC	$30,772,000	–	112,073	–	2.83%	–
HUM	New	HUMANA INC	$30,740,000	–	115,869	–	2.82%	–
FB	New	FACEBOOK INCcl a	$27,928,000	–	144,703	–	2.57%	–
ZTS	New	ZOETIS INCcl a	$19,475,000	–	171,600	–	1.79%	–
XLK	New	SELECT SECTOR SPDR TRcall	$18,417,000	–	236,000	–	1.69%	–
EFX	New	EQUIFAX INC	$17,252,000	–	127,569	–	1.58%	–
QCOM	New	QUALCOMM INC	$16,505,000	–	216,977	–	1.52%	–
XLK	New	SELECT SECTOR SPDR TRtechnology	$15,140,000	–	194,000	–	1.39%	–
WYNN	New	WYNN RESORTS LTDcall	$13,267,000	–	107,000	–	1.22%	–
	New	SEA LTDdebt 2.250% 7/0	$8,824,000	–	4,850,000	–	0.81%	–
CQP	New	CHENIERE ENERGY PARTNERS LP	$6,438,000	–	152,628	–	0.59%	–
CLXT	New	CALYXT INC	$5,496,000	–	440,401	–	0.50%	–
CWEN	New	CLEARWAY ENERGY INCcl c	$4,654,000	–	276,028	–	0.43%	–
MCO	New	MOODYS CORP	$1,934,000	–	9,900	–	0.18%	–
LNG	New	CHENIERE ENERGY INC	$1,369,000	–	20,000	–	0.13%	–
ADPT	New	ADAPTIVE BIOTECHNOLOGIES COR	$48,000	–	1,000	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
SYF	Exit	SYNCHRONY FINL	$0	–	-18,999	–	-0.04%	–
ALLY	Exit	ALLY FINL INC	$0	–	-24,000	–	-0.04%	–
DIS	Exit	DISNEY WALT CO	$0	–	-6,500	–	-0.05%	–
AABA	Exit	ALTABA INC	$0	–	-12,101	–	-0.05%	–
BX	Exit	BLACKSTONE GROUP L P	$0	–	-25,800	–	-0.06%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-6,165	–	-0.06%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-10,000	–	-0.07%	–
ADSK	Exit	AUTODESK INC	$0	–	-7,937	–	-0.08%	–
PPG	Exit	PPG INDS INC	$0	–	-11,500	–	-0.08%	–
ELAN	Exit	ELANCO ANIMAL HEALTH INC	$0	–	-40,000	–	-0.08%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-20,000	–	-0.08%	–
MCO	Exit	MOODYS CORP	$0	–	-9,000	–	-0.09%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-16,000	–	-0.09%	–
DFS	Exit	DISCOVER FINL SVCS	$0	–	-22,000	–	-0.10%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-17,000	–	-0.11%	–
S	Exit	SPRINT CORPcall	$0	–	-500,000	–	-0.20%	–
CLXT	Exit	CALYXT INC	$0	–	-308,942	–	-0.29%	–
TEO	Exit	TELECOM ARGENTINA S Aspon adr rep b	$0	–	-378,358	–	-0.40%	–
PAM	Exit	PAMPA ENERGIA S Aspons adr lvl i	$0	–	-289,774	–	-0.55%	–
CQP	Exit	CHENIERE ENERGY PARTNERS LP	$0	–	-245,468	–	-0.59%	–
FXI	Exit	ISHARES TRcall	$0	–	-250,000	–	-0.65%	–
	Exit	SEA LTDdebt 2.250% 7/0	$0	–	-13,000,000	–	-0.78%	–
JD	Exit	JD COM INCspon adr cl a	$0	–	-492,786	–	-0.78%	–
MS	Exit	MORGAN STANLEY	$0	–	-348,000	–	-0.99%	–
PNC	Exit	PNC FINL SVCS GROUP INC	$0	–	-121,000	–	-1.00%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-147,000	–	-1.01%	–
GM	Exit	GENERAL MTRS CO	$0	–	-513,531	–	-1.06%	–
MU	Exit	MICRON TECHOLOGY INC	$0	–	-416,574	–	-1.15%	–
EFX	Exit	EQUIFAX INC	$0	–	-150,291	–	-1.20%	–
AAPL	Exit	APPLE INC	$0	–	-90,703	–	-1.25%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-85,000	–	-1.51%	–
AGN	Exit	ALLERGAN PLC	$0	–	-140,909	–	-1.64%	–
SE	Exit	SEA LTDadr	$0	–	-1,966,811	–	-1.66%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncl a	$0	–	-86,269	–	-1.72%	–
EWW	Exit	ISHARES INCmsci mexico etf	$0	–	-553,000	–	-1.73%	–
C	Exit	CITIGROUP INC	$0	–	-482,461	–	-2.11%	–
NOW	Exit	SERVICENOW INC	$0	–	-183,422	–	-2.19%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-166,720	–	-2.26%	–
KRE	Exit	SPDR SERIES TRUSTs&p regl bkg	$0	–	-632,000	–	-2.29%	–
V	Exit	VISA INC	$0	–	-272,842	–	-2.50%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-707,764	–	-2.68%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-38,760	–	-2.85%	–
BAC	Exit	BANK AMER CORP	$0	–	-1,732,531	–	-3.11%	–
HUM	Exit	HUMANA INC	$0	–	-151,939	–	-3.14%	–
CF	Exit	CF INDS HLDGS INC	$0	–	-966,487	–	-3.21%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-632,783	–	-3.30%	–
TMUS	Exit	T MOBILE US INC	$0	–	-781,481	–	-3.34%	–
XLI	Exit	SELECT SECTOR SPDR TRsbi int-inds	$0	–	-707,484	–	-3.38%	–
DE	Exit	DEERE & CO	$0	–	-392,039	–	-3.59%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-958,995	–	-3.76%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-557,189	–	-3.89%	–
TSN	Exit	TYSON FOODS INCcl a	$0	–	-1,218,766	–	-4.42%	–
URI	Exit	UNITED RENTALS INC	$0	–	-457,547	–	-4.56%	–
AET	Exit	AETNA INC NEW	$0	–	-404,806	–	-5.01%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-545,084	–	-5.48%	–
XLB	Exit	SELECT SECTOR SPDR TRcall	$0	–	-1,600,000	–	-5.65%	–
XLI	Exit	SELECT SECTOR SPDR TRcall	$0	–	-1,261,500	–	-6.03%	–

Q3 2018

			Value		Shares		↓ Weighting
XLI	New	SELECT SECTOR SPDR TRcall	$98,902,000	–	1,261,500	–	6.03%	–
XLB	New	SELECT SECTOR SPDR TRcall	$92,688,000	–	1,600,000	–	5.65%	–
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$89,808,000	+100.2%	545,084	+125.4%	5.48%	+71.8%
AET	Buy	AETNA INC NEW	$82,115,000	+11.4%	404,806	+0.8%	5.01%	-4.4%
URI	Buy	UNITED RENTALS INC	$74,855,000	+40.9%	457,547	+27.1%	4.56%	+20.9%
TSN	New	TYSON FOODS INCcl a	$72,553,000	–	1,218,766	–	4.42%	–
MSFT	Buy	MICROSOFT CORP	$63,726,000	+57.8%	557,189	+36.1%	3.89%	+35.5%
DWDP	Buy	DOWDUPONT INC	$61,673,000	+23.2%	958,995	+26.3%	3.76%	+5.7%
DE	New	DEERE & CO	$58,935,000	–	392,039	–	3.59%	–
XLI	New	SELECT SECTOR SPDR TRsbi int-inds	$55,467,000	–	707,484	–	3.38%	–
TMUS	Sell	T MOBILE US INC	$54,844,000	+17.0%	781,481	-0.4%	3.34%	+0.4%
NXPI	Buy	NXP SEMICONDUCTORS N V	$54,103,000	+395.1%	632,783	+532.8%	3.30%	+324.7%
CF	Sell	CF INDS HLDGS INC	$52,616,000	-16.0%	966,487	-31.5%	3.21%	-27.9%
HUM	Buy	HUMANA INC	$51,434,000	+14.6%	151,939	+0.8%	3.14%	-1.6%
BAC	Buy	BANK AMER CORP	$51,040,000	+87.8%	1,732,531	+79.7%	3.11%	+61.2%
GOOGL	Buy	ALPHABET INCcap stk cl a	$46,786,000	+15.6%	38,760	+8.2%	2.85%	-0.8%
BMY	Sell	BRISTOL MYERS SQUIBB CO	$43,938,000	+11.5%	707,764	-0.6%	2.68%	-4.3%
V	Sell	VISA INC	$40,951,000	+12.7%	272,842	-0.5%	2.50%	-3.3%
KRE	New	SPDR SERIES TRUSTs&p regl bkg	$37,553,000	–	632,000	–	2.29%	–
MA	Sell	MASTERCARD INCORPORATEDcl a	$37,114,000	+12.6%	166,720	-0.6%	2.26%	-3.3%
NOW	Buy	SERVICENOW INC	$35,883,000	+27.5%	183,422	+12.4%	2.19%	+9.4%
C	Buy	CITIGROUP INC	$34,612,000	+20.6%	482,461	+12.5%	2.11%	+3.4%
EWW	New	ISHARES INCmsci mexico etf	$28,330,000	–	553,000	–	1.73%	–
CHTR	New	CHARTER COMMUNICATIONS INC Ncl a	$28,113,000	–	86,269	–	1.72%	–
SE	Buy	SEA LTDadr	$27,201,000	+8.5%	1,966,811	+17.7%	1.66%	-6.9%
AGN	Sell	ALLERGAN PLC	$26,840,000	+13.4%	140,909	-0.7%	1.64%	-2.7%
SPY	Sell	SPDR S&P 500 ETF TRput	$24,711,000	-73.6%	85,000	-75.4%	1.51%	-77.3%
AAPL	New	APPLE INC	$20,475,000	–	90,703	–	1.25%	–
EFX	Sell	EQUIFAX INC	$19,623,000	+4.0%	150,291	-0.4%	1.20%	-10.7%
MU	New	MICRON TECHOLOGY INC	$18,842,000	–	416,574	–	1.15%	–
GM	Buy	GENERAL MTRS CO	$17,291,000	+46.3%	513,531	+71.2%	1.06%	+25.6%
JPM	New	JPMORGAN CHASE & CO	$16,587,000	–	147,000	–	1.01%	–
PNC	New	PNC FINL SVCS GROUP INC	$16,479,000	–	121,000	–	1.00%	–
MS	New	MORGAN STANLEY	$16,206,000	–	348,000	–	0.99%	–
JD	Buy	JD COM INCspon adr cl a	$12,857,000	+54.0%	492,786	+129.9%	0.78%	+32.2%
FXI	New	ISHARES TRcall	$10,705,000	–	250,000	–	0.65%	–
CQP	Sell	CHENIERE ENERGY PARTNERS LP	$9,686,000	-30.3%	245,468	-36.5%	0.59%	-40.2%
PAM	Sell	PAMPA ENERGIA S Aspons adr lvl i	$8,997,000	-13.9%	289,774	-0.8%	0.55%	-26.0%
TEO	Sell	TELECOM ARGENTINA S Aspon adr rep b	$6,591,000	-2.6%	378,358	-0.8%	0.40%	-16.4%
CLXT	Buy	CALYXT INC	$4,718,000	+51.0%	308,942	+84.6%	0.29%	+29.7%
S	New	SPRINT CORPcall	$3,270,000	–	500,000	–	0.20%	–
LYB	Sell	LYONDELLBASELL INDUSTRIES N	$1,743,000	-93.8%	17,000	-93.4%	0.11%	-94.7%
MCO	New	MOODYS CORP	$1,505,000	–	9,000	–	0.09%	–
ELAN	New	ELANCO ANIMAL HEALTH INC	$1,396,000	–	40,000	–	0.08%	–
LNG	New	CHENIERE ENERGY INC	$1,390,000	–	20,000	–	0.08%	–
PPG	New	PPG INDS INC	$1,255,000	–	11,500	–	0.08%	–
ADSK	Sell	AUTODESK INC	$1,239,000	-95.2%	7,937	-96.0%	0.08%	-95.9%
EA	New	ELECTRONIC ARTS INC	$1,205,000	–	10,000	–	0.07%	–
BX	New	BLACKSTONE GROUP L P	$982,000	–	25,800	–	0.06%	–
CRM	Sell	SALESFORCE COM INC	$980,000	-95.9%	6,165	-96.5%	0.06%	-96.5%
DIS	New	DISNEY WALT CO	$760,000	–	6,500	–	0.05%	–
LLY	Exit	LILLY ELI & CO	$0	–	-42,185	–	-0.26%	–
ESRX	Exit	EXPRESS SCRIPTS HLDG CO	$0	–	-141,500	–	-0.78%	–
T	Exit	AT&T INC	$0	–	-447,788	–	-1.02%	–
EDN	Exit	EMPRESA DIST Y COMERCIAL NORspon adr	$0	–	-446,635	–	-1.03%	–
SU	Exit	SUNCOR ENERGY INC NEW	$0	–	-472,000	–	-1.36%	–
PCG	Exit	PG&E CORP	$0	–	-479,983	–	-1.45%	–
CI	Exit	CIGNA CORPORATION	$0	–	-176,210	–	-2.13%	–
EIX	Exit	EDISON INTL	$0	–	-505,753	–	-2.27%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-167,629	–	-2.32%	–
XLF	Exit	SELECT SECTOR SPDR TRcall	$0	–	-1,400,000	–	-2.65%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-1,393,952	–	-3.25%	–
QQQ	Exit	INVESCO QQQ TRput	$0	–	-338,000	–	-4.12%	–
IWM	Exit	ISHARES TRput	$0	–	-705,000	–	-8.21%	–

Q2 2018

			Value		Shares		↓ Weighting
IWM	New	ISHARES TRput	$115,458,000	–	705,000	–	8.21%	–
SPY	New	SPDR S&P 500 ETF TRput	$93,592,000	–	345,000	–	6.65%	–
AET	New	AETNA INC NEW	$73,708,000	–	401,676	–	5.24%	–
CF	New	CF INDS HLDGS INC	$62,622,000	–	1,410,407	–	4.45%	–
QQQ	New	INVESCO QQQ TRput	$58,018,000	–	338,000	–	4.12%	–
URI	New	UNITED RENTALS INC	$53,143,000	–	360,000	–	3.78%	–
DWDP	New	DOWDUPONT INC	$50,063,000	–	759,449	–	3.56%	–
TMUS	New	T MOBILE US INC	$46,895,000	–	784,850	–	3.33%	–
CMCSA	New	COMCAST CORP NEWcl a	$45,736,000	–	1,393,952	–	3.25%	–
HUM	New	HUMANA INC	$44,870,000	–	150,759	–	3.19%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$44,858,000	–	241,784	–	3.19%	–
GOOGL	New	ALPHABET INCcap stk cl a	$40,468,000	–	35,838	–	2.88%	–
MSFT	New	MICROSOFT CORP	$40,372,000	–	409,414	–	2.87%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$39,409,000	–	712,126	–	2.80%	–
XLF	New	SELECT SECTOR SPDR TRcall	$37,226,000	–	1,400,000	–	2.65%	–
V	New	VISA INC	$36,337,000	–	274,345	–	2.58%	–
MA	New	MASTERCARD INCORPORATEDcl a	$32,951,000	–	167,673	–	2.34%	–
FB	New	FACEBOOK INCcl a	$32,574,000	–	167,629	–	2.32%	–
EIX	New	EDISON INTL	$31,999,000	–	505,753	–	2.27%	–
CI	New	CIGNA CORPORATION	$29,947,000	–	176,210	–	2.13%	–
C	New	CITIGROUP INC	$28,709,000	–	429,000	–	2.04%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$28,231,000	–	257,000	–	2.01%	–
NOW	New	SERVICENOW INC	$28,153,000	–	163,235	–	2.00%	–
BAC	New	BANK AMER CORP	$27,175,000	–	964,000	–	1.93%	–
ADSK	New	AUTODESK INC	$26,040,000	–	198,642	–	1.85%	–
SE	New	SEA LTDadr	$25,062,000	–	1,670,817	–	1.78%	–
CRM	New	SALESFORCE COM INC	$24,056,000	–	176,365	–	1.71%	–
AGN	New	ALLERGAN PLC	$23,667,000	–	141,954	–	1.68%	–
PCG	New	PG&E CORP	$20,428,000	–	479,983	–	1.45%	–
SU	New	SUNCOR ENERGY INC NEW	$19,201,000	–	472,000	–	1.36%	–
EFX	New	EQUIFAX INC	$18,870,000	–	150,824	–	1.34%	–
EDN	New	EMPRESA DIST Y COMERCIAL NORspon adr	$14,511,000	–	446,635	–	1.03%	–
T	New	AT&T INC	$14,378,000	–	447,788	–	1.02%	–
CQP	New	CHENIERE ENERGY PARTNERS LP	$13,894,000	–	386,492	–	0.99%	–
	New	SEA LTDdebt 2.250% 7/0	$13,212,000	–	13,000,000	–	0.94%	–
GM	New	GENERAL MTRS CO	$11,820,000	–	300,000	–	0.84%	–
NXPI	New	NXP SEMICONDUCTORS N V	$10,927,000	–	100,000	–	0.78%	–
ESRX	New	EXPRESS SCRIPTS HLDG CO	$10,925,000	–	141,500	–	0.78%	–
PAM	New	PAMPA ENERGIA S Aspns adr lvl i	$10,446,000	–	292,036	–	0.74%	–
JD	New	JD COM INCspon adr cl a	$8,350,000	–	214,365	–	0.59%	–
TEO	New	TELECOM ARGENTINA S Aspon adr rep b	$6,765,000	–	381,315	–	0.48%	–
LLY	New	LILLY ELI & CO	$3,600,000	–	42,185	–	0.26%	–
CLXT	New	CALYXT INC	$3,124,000	–	167,324	–	0.22%	–
DFS	New	DISCOVER FINL SVCS	$1,549,000	–	22,000	–	0.11%	–
COF	New	CAPITAL ONE FINL CORP	$1,470,000	–	16,000	–	0.10%	–
AABA	New	ALTABA INC	$886,000	–	12,101	–	0.06%	–
ALLY	New	ALLY FINL INC	$630,000	–	24,000	–	0.04%	–
SYF	New	SYNCHRONY FINL	$634,000	–	18,999	–	0.04%	–

Q4 2017

			Value		Shares		↓ Weighting
PPG	Exit	PPG INDS INC	$0	–	-5,500	–	-0.04%	–
BMA	Exit	BANCO MACRO SAspon adr b	$0	–	-6,294	–	-0.05%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-4,500	–	-0.08%	–
S	Exit	SPRINT CORP	$0	–	-486,481	–	-0.27%	–
NVS	Exit	NOVARTIS A Gsponsored adr	$0	–	-46,826	–	-0.29%	–
BTU	Exit	PEABODY ENERGY CORP NEW	$0	–	-178,112	–	-0.37%	–
CQP	Exit	CHENIERE ENERGY PARTNERS LP	$0	–	-289,612	–	-0.60%	–
P	Exit	PANDORA MEDIA INC	$0	–	-1,085,000	–	-0.60%	–
CAR	Exit	AVIS BUDGET GROUP	$0	–	-220,226	–	-0.60%	–
ZAYO	Exit	ZAYO GROUP HLDGS INC	$0	–	-252,617	–	-0.62%	–
JD	Exit	JD COM INCspon adr cl a	$0	–	-240,544	–	-0.66%	–
BTUPR	Exit	PEABODY ENERGY CORP NEW8.5% pfd conv a	$0	–	-165,359	–	-0.67%	–
ET	Exit	ENERGY TRANSFER EQUITY L P	$0	–	-558,500	–	-0.69%	–
AABA	Exit	ALTABA INC	$0	–	-178,500	–	-0.84%	–
HCA	Exit	HCA HEALTHCARE INC	$0	–	-165,352	–	-0.94%	–
CXW	Exit	CORECIVIC INC	$0	–	-520,093	–	-0.99%	–
THC	Exit	TENET HEALTHCARE CORP	$0	–	-866,103	–	-1.01%	–
MON	Exit	MONSANTO CO NEW	$0	–	-120,000	–	-1.02%	–
PFE	Exit	PFIZER INC	$0	–	-405,372	–	-1.03%	–
MET	Exit	METLIFE INC	$0	–	-293,718	–	-1.09%	–
DIS	Exit	DISNEY WALT CO	$0	–	-166,785	–	-1.17%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-440,000	–	-1.19%	–
TEO	Exit	TELECOM ARGENTINA S Aspon adr rep b	$0	–	-542,638	–	-1.19%	–
DISH	Exit	DISH NETWORK CORPcl a	$0	–	-362,941	–	-1.40%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-213,705	–	-1.46%	–
FE	Exit	FIRSTENERGY CORP	$0	–	-684,100	–	-1.50%	–
EDN	Exit	EMPRESA DIST Y COMERCIAL NORspon adr	$0	–	-531,200	–	-1.50%	–
WMB	Exit	WILLIAMS COS INC DEL	$0	–	-719,178	–	-1.54%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-329,593	–	-1.63%	–
ETP	Exit	ENERGY TRANSFER PARTNERS LPunit ltd prt int	$0	–	-1,283,120	–	-1.67%	–
SBAC	Exit	SBA COMMUNICATIONS CORP NEWcl a	$0	–	-174,562	–	-1.79%	–
AGN	Exit	ALLERGAN PLC	$0	–	-122,805	–	-1.79%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-180,283	–	-1.82%	–
TWX	Exit	TIME WARNER INC	$0	–	-255,858	–	-1.87%	–
HUM	Exit	HUMANA INC	$0	–	-108,861	–	-1.89%	–
WPZ	Exit	WILLIAMS PARTNERS L P NEW	$0	–	-682,137	–	-1.89%	–
PAM	Exit	PAMPA ENERGIA S Aspons adr lvl i	$0	–	-412,099	–	-1.91%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-503,000	–	-1.98%	–
V	Exit	VISA INC	$0	–	-292,461	–	-2.19%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-838,187	–	-2.30%	–
NOW	Exit	SERVICENOW INC	$0	–	-297,513	–	-2.49%	–
CI	Exit	CIGNA CORPORATION	$0	–	-189,845	–	-2.53%	–
EFX	Exit	EQUIFAX INC	$0	–	-338,177	–	-2.56%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-227,233	–	-2.80%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-645,532	–	-2.93%	–
MRK	Exit	MERCK & CO INC	$0	–	-695,172	–	-3.17%	–
DFS	Exit	DISCOVER FINL SVCS	$0	–	-702,850	–	-3.23%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-616,721	–	-3.28%	–
TMUS	Exit	T MOBILE US INC	$0	–	-745,450	–	-3.28%	–
XLF	Exit	SELECT SECTOR SPDRcall	$0	–	-1,800,000	–	-3.32%	–
C	Exit	CITIGROUP INC	$0	–	-729,231	–	-3.78%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-328,879	–	-4.01%	–
BAC	Exit	BANK AMER CORP	$0	–	-2,773,000	–	-5.01%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-81,013	–	-5.62%	–
CF	Exit	CF INDS HLDGS INC	$0	–	-2,331,164	–	-5.84%	–

Q3 2017

			Value		Shares		↓ Weighting
CF	Sell	CF INDS HLDGS INC	$81,964,000	+24.4%	2,331,164	-1.1%	5.84%	-11.8%
GOOGL	Buy	ALPHABET INCcap stk cl a	$78,884,000	+7.7%	81,013	+2.8%	5.62%	-23.6%
BAC	New	BANK AMER CORP	$70,268,000	–	2,773,000	–	5.01%	–
FB	Buy	FACEBOOK INCcl a	$56,196,000	+229.0%	328,879	+190.7%	4.01%	+133.3%
C	Buy	CITIGROUP INC	$53,044,000	+2102.8%	729,231	+1925.6%	3.78%	+1462.8%
XLF	New	SELECT SECTOR SPDRcall	$46,548,000	–	1,800,000	–	3.32%	–
TMUS	Buy	T MOBILE US INC	$45,964,000	+36.7%	745,450	+34.4%	3.28%	-3.0%
MSFT	New	MICROSOFT CORP	$45,940,000	–	616,721	–	3.28%	–
DFS	Buy	DISCOVER FINL SVCS	$45,320,000	+772.4%	702,850	+741.3%	3.23%	+519.0%
MRK	Sell	MERCK & CO INC	$44,512,000	-6.8%	695,172	-6.7%	3.17%	-33.9%
BMY	Sell	BRISTOL MYERS SQUIBB CO	$41,146,000	-28.8%	645,532	-37.7%	2.93%	-49.5%
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$39,245,000	+23.8%	227,233	+1.0%	2.80%	-12.2%
EFX	New	EQUIFAX INC	$35,843,000	–	338,177	–	2.56%	–
CI	Sell	CIGNA CORPORATION	$35,490,000	+6.1%	189,845	-5.0%	2.53%	-24.7%
NOW	New	SERVICENOW INC	$34,967,000	–	297,513	–	2.49%	–
CMCSA	Buy	COMCAST CORP NEWcl a	$32,253,000	+3.1%	838,187	+4.3%	2.30%	-26.9%
V	Buy	VISA INC	$30,779,000	+12.6%	292,461	+0.3%	2.19%	-20.2%
WFC	New	WELLS FARGO CO NEW	$27,740,000	–	503,000	–	1.98%	–
WPZ	Sell	WILLIAMS PARTNERS L P NEW	$26,535,000	-44.2%	682,137	-42.4%	1.89%	-60.4%
HUM	Sell	HUMANA INC	$26,522,000	+0.9%	108,861	-0.3%	1.89%	-28.4%
TWX	Sell	TIME WARNER INC	$26,213,000	-29.6%	255,858	-31.0%	1.87%	-50.1%
MA	Buy	MASTERCARD INCORPORATEDcl a	$25,456,000	+142.2%	180,283	+108.3%	1.82%	+71.9%
AGN	Buy	ALLERGAN PLC	$25,169,000	-12.0%	122,805	+4.4%	1.79%	-37.6%
SBAC	Sell	SBA COMMUNICATIONS CORP NEWcl a	$25,146,000	+0.9%	174,562	-5.5%	1.79%	-28.5%
ETP	Buy	ENERGY TRANSFER PARTNERS LPunit ltd prt int	$23,468,000	-5.2%	1,283,120	+5.6%	1.67%	-32.8%
DWDP	New	DOWDUPONT INC	$22,818,000	–	329,593	–	1.63%	–
WMB	Sell	WILLIAMS COS INC DEL	$21,583,000	-59.8%	719,178	-59.4%	1.54%	-71.5%
EDN	Buy	EMPRESA DIST Y COMERCIAL NORspon adr	$21,115,000	+26.8%	531,200	+1.8%	1.50%	-10.0%
FE	New	FIRSTENERGY CORP	$21,091,000	–	684,100	–	1.50%	–
JPM	New	JPMORGAN CHASE & CO	$20,411,000	–	213,705	–	1.46%	–
DISH	Sell	DISH NETWORK CORPcl a	$19,682,000	-26.6%	362,941	-15.1%	1.40%	-48.0%
TEO	Buy	TELECOM ARGENTINA S Aspon adr rep b	$16,735,000	+29.6%	542,638	+6.5%	1.19%	-8.1%
CFG	New	CITIZENS FINL GROUP INC	$16,663,000	–	440,000	–	1.19%	–
MET	New	METLIFE INC	$15,259,000	–	293,718	–	1.09%	–
PFE	Sell	PFIZER INC	$14,472,000	+0.5%	405,372	-5.4%	1.03%	-28.7%
MON	New	MONSANTO CO NEW	$14,378,000	–	120,000	–	1.02%	–
THC	Buy	TENET HEALTHCARE CORP	$14,230,000	+29.5%	866,103	+52.5%	1.01%	-8.2%
CXW	Buy	CORECIVIC INC	$13,923,000	+1.9%	520,093	+5.0%	0.99%	-27.7%
HCA	Buy	HCA HEALTHCARE INC	$13,160,000	+19.0%	165,352	+30.4%	0.94%	-15.6%
AABA	Buy	ALTABA INC	$11,824,000	+463.9%	178,500	+363.6%	0.84%	+299.5%
ET	Buy	ENERGY TRANSFER EQUITY L P	$9,707,000	+2.3%	558,500	+5.7%	0.69%	-27.5%
BTUPR	New	PEABODY ENERGY CORP NEW8.5% pfd conv a	$9,425,000	–	165,359	–	0.67%	–
JD	New	JD COM INCspon adr cl a	$9,189,000	–	240,544	–	0.66%	–
ZAYO	Sell	ZAYO GROUP HLDGS INC	$8,695,000	-45.9%	252,617	-51.4%	0.62%	-61.6%
CAR	Sell	AVIS BUDGET GROUP	$8,382,000	-6.9%	220,226	-33.3%	0.60%	-33.9%
P	New	PANDORA MEDIA INC	$8,355,000	–	1,085,000	–	0.60%	–
BTU	Sell	PEABODY ENERGY CORP NEW	$5,167,000	-59.0%	178,112	-65.4%	0.37%	-70.9%
NVS	Sell	NOVARTIS A Gsponsored adr	$4,020,000	-20.6%	46,826	-22.8%	0.29%	-43.6%
PPG	New	PPG INDS INC	$598,000	–	5,500	–	0.04%	–
ATUS	Exit	ALTICE USA INCcl a	$0	–	-5,000	–	-0.02%	–
PRGO	Exit	PERRIGO CO PLC	$0	–	-54,486	–	-0.41%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-114,809	–	-0.50%	–
AMT	Exit	AMERICAN TOWER CORP NEW	$0	–	-41,838	–	-0.56%	–
QQQ	Exit	POWERSHARES QQQ TRUSTput	$0	–	-52,500	–	-0.73%	–
EWW	Exit	ISHARESmsci mex cap etf	$0	–	-170,269	–	-0.92%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncl a	$0	–	-30,000	–	-1.02%	–
VRX	Exit	VALEANT PHARMACEUTICALS INTL	$0	–	-968,221	–	-1.68%	–
TV	Exit	GRUPO TELEVISA SAspon adr rep ord	$0	–	-778,749	–	-1.91%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-790,812	–	-1.99%	–

Q2 2017

			Value		Shares		↓ Weighting
GOOGL	New	ALPHABET INCcap stk cl a	$73,271,000	–	78,813	–	7.36%	–
CF	New	CF INDS HLDGS INC	$65,873,000	–	2,355,964	–	6.62%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$57,778,000	–	1,036,941	–	5.81%	–
WMB	New	WILLIAMS COS INC DEL	$53,672,000	–	1,772,518	–	5.40%	–
MRK	New	MERCK & CO INC	$47,778,000	–	745,483	–	4.80%	–
WPZ	New	WILLIAMS PARTNERS L P NEW	$47,526,000	–	1,184,893	–	4.78%	–
TWX	New	TIME WARNER INC	$37,254,000	–	371,016	–	3.74%	–
TMUS	New	T MOBILE US INC	$33,623,000	–	554,648	–	3.38%	–
CI	New	CIGNA CORPORATION	$33,451,000	–	199,839	–	3.36%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$31,703,000	–	225,000	–	3.19%	–
CMCSA	New	COMCAST CORP NEWcl a	$31,272,000	–	803,490	–	3.14%	–
AGN	New	ALLERGAN PLC	$28,605,000	–	117,673	–	2.88%	–
V	New	VISA INC	$27,334,000	–	291,474	–	2.75%	–
DISH	New	DISH NETWORK CORPcl a	$26,818,000	–	427,306	–	2.70%	–
HUM	New	HUMANA INC	$26,284,000	–	109,235	–	2.64%	–
SBAC	New	SBA COMMUNICATIONS CORP NEWcl a	$24,927,000	–	184,782	–	2.51%	–
ETP	New	ENERGY TRANSFER PARTNERS LPunit ltd prt int	$24,766,000	–	1,214,620	–	2.49%	–
PAM	New	PAMPA ENERGIA S Aspons adr lvl i	$24,252,000	–	412,099	–	2.44%	–
COG	New	CABOT OIL & GAS CORP	$19,834,000	–	790,812	–	1.99%	–
TV	New	GRUPO TELEVISA SAspon adr rep ord	$18,978,000	–	778,749	–	1.91%	–
DIS	New	DISNEY WALT CO	$17,721,000	–	166,785	–	1.78%	–
FB	New	FACEBOOK INCcl a	$17,079,000	–	113,121	–	1.72%	–
VRX	New	VALEANT PHARMACEUTICALS INTL	$16,750,000	–	968,221	–	1.68%	–
EDN	New	EMPRESA DIST Y COMERCIAL NORspon adr	$16,648,000	–	521,888	–	1.67%	–
ZAYO	New	ZAYO GROUP HLDGS INC	$16,060,000	–	519,725	–	1.61%	–
PFE	New	PFIZER INC	$14,394,000	–	428,509	–	1.45%	–
CXW	New	CORECIVIC INC	$13,657,000	–	495,193	–	1.37%	–
TEO	New	TELECOM ARGENTINA S Aspon adr rep b	$12,910,000	–	509,474	–	1.30%	–
BTU	New	PEABODY ENERGY CORP NEW	$12,596,000	–	515,172	–	1.27%	–
HCA	New	HCA HEALTHCARE INC	$11,057,000	–	126,800	–	1.11%	–
THC	New	TENET HEALTHCARE CORP	$10,987,000	–	568,076	–	1.10%	–
MA	New	MASTERCARD INCORPORATEDcl a	$10,509,000	–	86,529	–	1.06%	–
CHTR	New	CHARTER COMMUNICATIONS INC Ncl a	$10,106,000	–	30,000	–	1.02%	–
ET	New	ENERGY TRANSFER EQUITY L P	$9,492,000	–	528,500	–	0.95%	–
CQP	New	CHENIERE ENERGY PARTNERS LP	$9,383,000	–	289,612	–	0.94%	–
EWW	New	ISHARESmsci mex cap etf	$9,184,000	–	170,269	–	0.92%	–
CAR	New	AVIS BUDGET GROUP	$8,999,000	–	330,000	–	0.90%	–
QQQ	New	POWERSHARES QQQ TRUSTput	$7,226,000	–	52,500	–	0.73%	–
AMT	New	AMERICAN TOWER CORP NEW	$5,536,000	–	41,838	–	0.56%	–
DFS	New	DISCOVER FINL SVCS	$5,195,000	–	83,541	–	0.52%	–
NVS	New	NOVARTIS A Gsponsored adr	$5,062,000	–	60,642	–	0.51%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$4,951,000	–	114,809	–	0.50%	–
PRGO	New	PERRIGO CO PLC	$4,115,000	–	54,486	–	0.41%	–
S	New	SPRINT CORP	$3,994,000	–	486,481	–	0.40%	–
C	New	CITIGROUP INC	$2,408,000	–	36,000	–	0.24%	–
AABA	New	ALTABA INC	$2,097,000	–	38,500	–	0.21%	–
GS	New	GOLDMAN SACHS GROUP INC	$999,000	–	4,500	–	0.10%	–
BMA	New	BANCO MACRO SAspon adr b	$580,000	–	6,294	–	0.06%	–
ATUS	New	ALTICE USA INCcl a	$162,000	–	5,000	–	0.02%	–

Q4 2016

			Value		Shares		↓ Weighting
QQQ	Exit	POWERSHARES QQQ TRUSTput	$0	–	-5,900	–	-0.07%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-7,500	–	-0.08%	–
SMH	Exit	VANECK VECTORS ETF TRput	$0	–	-15,500	–	-0.11%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-21,500	–	-0.14%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-60,000	–	-0.16%	–
KMI	Exit	KINDER MORGAN INC DEL	$0	–	-90,000	–	-0.22%	–
VNOM	Exit	VIPER ENERGY PARTNERS LP	$0	–	-170,874	–	-0.29%	–
CXW	Exit	CORRECTIONS CORP AMER NEW	$0	–	-478,200	–	-0.70%	–
ET	Exit	ENERGY TRANSFER EQUITY L P	$0	–	-413,500	–	-0.74%	–
WHR	Exit	WHIRLPOOL CORP	$0	–	-48,000	–	-0.83%	–
3106PS	Exit	DELPHI AUTOMOTIVE PLC	$0	–	-124,375	–	-0.94%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-220,300	–	-1.03%	–
CQP	Exit	CHENIERE ENERGY PARTNERS LP	$0	–	-343,413	–	-1.07%	–
TEO	Exit	TELECOM ARGENTINA S Aspon adr rep b	$0	–	-554,328	–	-1.08%	–
MRK	Exit	MERCK & CO INC	$0	–	-177,000	–	-1.17%	–
EDN	Exit	EMPRESA DIST Y COMERCIAL NORspon adr	$0	–	-567,184	–	-1.19%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-156,600	–	-1.19%	–
HCA	Exit	HCA HOLDINGS INC	$0	–	-150,000	–	-1.20%	–
APA	Exit	APACHE CORP	$0	–	-185,000	–	-1.25%	–
YHOO	Exit	YAHOO INC	$0	–	-338,000	–	-1.55%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-281,000	–	-1.61%	–
PAM	Exit	PAMPA ENERGIA S Aspons adr lvl i	$0	–	-530,267	–	-1.82%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-24,100	–	-2.06%	–
HUM	Exit	HUMANA INC	$0	–	-118,504	–	-2.22%	–
TMUS	Exit	T MOBILE US INC	$0	–	-459,300	–	-2.28%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-567,063	–	-2.62%	–
CI	Exit	CIGNA CORPORATION	$0	–	-192,982	–	-2.67%	–
PXD	Exit	PIONEER NAT RES CO	$0	–	-136,000	–	-2.68%	–
ETP	Exit	ENERGY TRANSFER PRTNRS L Punit ltd partn	$0	–	-802,539	–	-3.15%	–
CF	Exit	CF INDS HLDGS INC	$0	–	-1,610,090	–	-4.16%	–
YNDX	Exit	YANDEX N V	$0	–	-1,921,451	–	-4.29%	–
BAC	Exit	BANK AMER CORP	$0	–	-2,706,450	–	-4.50%	–
CLR	Exit	CONTINENTAL RESOURCES INC	$0	–	-836,500	–	-4.61%	–
SPY	Exit	SPDR S&P 500 ETF TRcall	$0	–	-225,000	–	-5.17%	–
AGN	Exit	ALLERGAN PLC	$0	–	-268,232	–	-6.56%	–
ALLY	Exit	ALLY FINL INC	$0	–	-3,190,184	–	-6.59%	–
WPZ	Exit	WILLIAMS PARTNERS L P NEW	$0	–	-1,883,999	–	-7.44%	–
DISH	Exit	DISH NETWORK CORPcl a	$0	–	-1,425,785	–	-8.29%	–
WMB	Exit	WILLIAMS COS INC DEL	$0	–	-3,752,928	–	-12.24%	–

Q3 2016

			Value		Shares		↓ Weighting
WMB	Buy	WILLIAMS COS INC DEL	$115,327,000	+62.2%	3,752,928	+14.1%	12.24%	+130.6%
DISH	Sell	DISH NETWORK CORPcl a	$78,105,000	-0.1%	1,425,785	-4.4%	8.29%	+42.1%
ALLY	Sell	ALLY FINL INC	$62,113,000	-10.1%	3,190,184	-21.2%	6.59%	+27.9%
AGN	Sell	ALLERGAN PLC	$61,777,000	-17.9%	268,232	-17.7%	6.56%	+16.7%
SPY	Sell	SPDR S&P 500 ETF TRcall	$48,668,000	-84.7%	225,000	-85.2%	5.17%	-78.3%
CLR	Sell	CONTINENTAL RESOURCES INC	$43,465,000	-28.1%	836,500	-37.4%	4.61%	+2.3%
BAC	Sell	BANK AMER CORP	$42,356,000	+7.4%	2,706,450	-9.0%	4.50%	+52.7%
YNDX	Buy	YANDEX N V	$40,447,000	-1.7%	1,921,451	+2.0%	4.29%	+39.8%
CF	New	CF INDS HLDGS INC	$39,206,000	–	1,610,090	–	4.16%	–
ETP	Buy	ENERGY TRANSFER PRTNRS L Punit ltd partn	$29,694,000	+0.7%	802,539	+3.7%	3.15%	+43.3%
PXD	Sell	PIONEER NAT RES CO	$25,248,000	-52.4%	136,000	-61.2%	2.68%	-32.3%
CI	New	CIGNA CORPORATION	$25,149,000	–	192,982	–	2.67%	–
TMUS	Buy	T MOBILE US INC	$21,458,000	+10.7%	459,300	+2.6%	2.28%	+57.5%
HUM	Buy	HUMANA INC	$20,962,000	-1.2%	118,504	+0.5%	2.22%	+40.6%
GOOGL	Sell	ALPHABET INCcap stk cl a	$19,378,000	-28.7%	24,100	-37.6%	2.06%	+1.5%
BMY	New	BRISTOL MYERS SQUIBB CO	$15,152,000	–	281,000	–	1.61%	–
YHOO	New	YAHOO INC	$14,568,000	–	338,000	–	1.55%	–
APA	New	APACHE CORP	$11,816,000	–	185,000	–	1.25%	–
HCA	New	HCA HOLDINGS INC	$11,345,000	–	150,000	–	1.20%	–
COF	Sell	CAPITAL ONE FINL CORP	$11,249,000	-35.8%	156,600	-43.3%	1.19%	-8.7%
MRK	New	MERCK & CO INC	$11,047,000	–	177,000	–	1.17%	–
DVN	Sell	DEVON ENERGY CORP NEW	$9,717,000	-21.3%	220,300	-35.3%	1.03%	+11.8%
WHR	New	WHIRLPOOL CORP	$7,784,000	–	48,000	–	0.83%	–
CXW	New	CORRECTIONS CORP AMER NEW	$6,633,000	–	478,200	–	0.70%	–
VNOM	Sell	VIPER ENERGY PARTNERS LP	$2,760,000	-48.3%	170,874	-40.3%	0.29%	-26.4%
KMI	New	KINDER MORGAN INC DEL	$2,082,000	–	90,000	–	0.22%	–
COG	Buy	CABOT OIL & GAS CORP	$1,548,000	+301.0%	60,000	+300.0%	0.16%	+465.5%
AIG	Sell	AMERICAN INTL GROUP INC	$1,276,000	-43.9%	21,500	-50.0%	0.14%	-20.6%
SMH	New	VANECK VECTORS ETF TRput	$1,077,000	–	15,500	–	0.11%	–
NXPI	New	NXP SEMICONDUCTORS N V	$765,000	–	7,500	–	0.08%	–
QQQ	New	POWERSHARES QQQ TRUSTput	$700,000	–	5,900	–	0.07%	–
TWX	Exit	TIME WARNER INC	$0	–	-3,500	–	-0.02%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-10,000	–	-0.02%	–
OKE	Exit	ONEOK INC NEW	$0	–	-11,000	–	-0.04%	–
NFLX	Exit	NETFLIX INCput	$0	–	-8,000	–	-0.06%	–
AR	Exit	ANTERO RES CORP	$0	–	-30,700	–	-0.06%	–
OIH	Exit	VANECK VECTORS ETF TRoil svcs etf	$0	–	-55,000	–	-0.12%	–
OASPQ	Exit	OASIS PETE INC NEW	$0	–	-440,000	–	-0.31%	–
WLL	Exit	WHITING PETE CORP NEW	$0	–	-875,000	–	-0.60%	–
AGN	Exit	ALLERGAN PLCcall	$0	–	-45,000	–	-0.78%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-109,400	–	-1.21%	–
HAL	Exit	HALLIBURTON CO	$0	–	-460,000	–	-1.56%	–
C	Exit	CITIGROUP INC	$0	–	-500,000	–	-1.58%	–
IWM	Exit	ISHARES TRcall	$0	–	-1,460,000	–	-12.53%	–

Q2 2016

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRcall	$318,926,000	–	1,522,500	–	23.80%	–
IWM	New	ISHARES TRcall	$167,871,000	–	1,460,000	–	12.53%	–
DISH	New	DISH NETWORK CORPcl a	$78,149,000	–	1,491,385	–	5.83%	–
AGN	New	ALLERGAN PLC	$75,285,000	–	325,782	–	5.62%	–
WMB	New	WILLIAMS COS INC DEL	$71,114,000	–	3,287,728	–	5.31%	–
ALLY	New	ALLY FINL INC	$69,065,000	–	4,045,978	–	5.16%	–
WPZ	New	WILLIAMS PARTNERS L P NEW	$65,262,000	–	1,883,999	–	4.87%	–
CLR	New	CONTINENTAL RESOURCES INC	$60,458,000	–	1,335,500	–	4.51%	–
PXD	New	PIONEER NAT RES CO	$52,999,000	–	350,500	–	3.96%	–
YNDX	New	YANDEX N V	$41,142,000	–	1,882,951	–	3.07%	–
BAC	New	BANK AMER CORP	$39,452,000	–	2,973,000	–	2.94%	–
ETP	New	ENERGY TRANSFER PRTNRS L Punit ltd partn	$29,475,000	–	774,236	–	2.20%	–
GOOGL	New	ALPHABET INCcap stk cl a	$27,161,000	–	38,607	–	2.03%	–
LNG	New	CHENIERE ENERGY INC	$21,293,000	–	567,063	–	1.59%	–
HUM	New	HUMANA INC	$21,209,000	–	117,904	–	1.58%	–
C	New	CITIGROUP INC	$21,195,000	–	500,000	–	1.58%	–
HAL	New	HALLIBURTON CO	$20,833,000	–	460,000	–	1.56%	–
TMUS	New	T MOBILE US INC	$19,376,000	–	447,800	–	1.45%	–
COF	New	CAPITAL ONE FINL CORP	$17,529,000	–	276,000	–	1.31%	–
GS	New	GOLDMAN SACHS GROUP INC	$16,255,000	–	109,400	–	1.21%	–
PAM	New	PAMPA ENERGIA S Aspons adr lvl i	$14,497,000	–	530,267	–	1.08%	–
DVN	New	DEVON ENERGY CORP NEW	$12,347,000	–	340,620	–	0.92%	–
AGN	New	ALLERGAN PLCcall	$10,399,000	–	45,000	–	0.78%	–
CQP	New	CHENIERE ENERGY PARTNERS LP	$10,296,000	–	343,413	–	0.77%	–
TEO	New	TELECOM ARGENTINA S Aspon adr rep b	$10,161,000	–	554,328	–	0.76%	–
EDN	New	EMPRESA DIST Y COMERCIAL NORspon adr	$9,931,000	–	567,184	–	0.74%	–
WLL	New	WHITING PETE CORP NEW	$8,103,000	–	875,000	–	0.60%	–
3106PS	New	DELPHI AUTOMOTIVE PLC	$7,786,000	–	124,375	–	0.58%	–
ET	New	ENERGY TRANSFER EQUITY L P	$5,942,000	–	413,500	–	0.44%	–
VNOM	New	VIPER ENERGY PARTNERS LP	$5,334,000	–	286,017	–	0.40%	–
OASPQ	New	OASIS PETE INC NEW	$4,110,000	–	440,000	–	0.31%	–
AIG	New	AMERICAN INTL GROUP INC	$2,274,000	–	43,000	–	0.17%	–
OIH	New	VANECK VECTORS ETF TRoil svcs etf	$1,609,000	–	55,000	–	0.12%	–
AR	New	ANTERO RES CORP	$798,000	–	30,700	–	0.06%	–
NFLX	New	NETFLIX INCput	$732,000	–	8,000	–	0.06%	–
OKE	New	ONEOK INC NEW	$522,000	–	11,000	–	0.04%	–
COG	New	CABOT OIL & GAS CORP	$386,000	–	15,000	–	0.03%	–
PE	New	PARSLEY ENERGY INCcl a	$271,000	–	10,000	–	0.02%	–
TWX	New	TIME WARNER INC	$257,000	–	3,500	–	0.02%	–

Q4 2015

			Value		Shares		↓ Weighting
OIH	Exit	MARKET VECTORS ETF TRcall	$0	–	-25,000	–	-0.10%	–
GOOGL	Exit	GOOGLE INCcall	$0	–	-2,500	–	-0.23%	–
VNOM	Exit	VIPER ENERGY PARTNERS LP	$0	–	-286,017	–	-0.60%	–
CC	Exit	CHEMOURS CO	$0	–	-921,205	–	-0.87%	–
GOOG	Exit	GOOGLE INCcl c	$0	–	-10,511	–	-0.94%	–
BEAV	Exit	B/E AEROSPACE INC	$0	–	-158,301	–	-1.02%	–
EDN	Exit	EMPRESA DIST Y COMERCIAL NORspon adr	$0	–	-567,184	–	-1.06%	–
TEO	Exit	TELECOM ARGENTINA S Aspon adr rep b	$0	–	-554,328	–	-1.18%	–
PAM	Exit	PAMPA ENERGIA S Aspons adr lvl i	$0	–	-530,267	–	-1.18%	–
YNDX	Exit	YANDEX N V	$0	–	-782,400	–	-1.23%	–
YPF	Exit	YPF SOCIEDAD ANONIMAspon adr cl d	$0	–	-691,312	–	-1.54%	–
HRB	Exit	BLOCK H & R INC	$0	–	-310,000	–	-1.64%	–
UAL	Exit	UNITED CONTL HLDGS INC	$0	–	-258,000	–	-2.00%	–
CQP	Exit	CHENIERE ENERGY PARTNERS LP	$0	–	-598,663	–	-2.31%	–
MYL	Exit	MYLAN N V	$0	–	-430,500	–	-2.54%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-378,563	–	-2.68%	–
ALLY	Exit	ALLY FINL INC	$0	–	-910,480	–	-2.72%	–
MCD	Exit	MCDONALDS CORP	$0	–	-196,053	–	-2.83%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-347,508	–	-2.89%	–
3106PS	Exit	DELPHI AUTOMOTIVE PLC	$0	–	-280,539	–	-3.12%	–
ESRX	Exit	EXPRESS SCRIPTS HLDG CO	$0	–	-286,640	–	-3.40%	–
HCA	Exit	HCA HOLDINGS INC	$0	–	-320,774	–	-3.63%	–
QQQ	Exit	POWERSHARES QQQ TRUSTput	$0	–	-280,000	–	-4.17%	–
FDN	Exit	FIRST TR EXCHANGE TRADED FDput	$0	–	-500,000	–	-4.84%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-55,306	–	-5.17%	–
PXD	Exit	PIONEER NAT RES CO	$0	–	-435,413	–	-7.75%	–
AGN	Exit	ALLERGAN PLC	$0	–	-211,855	–	-8.43%	–
XLK	Exit	SELECT SECTOR SPDR TRput	$0	–	-1,920,000	–	-11.10%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-671,900	–	-18.84%	–

Q3 2015

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$128,756,000	–	671,900	–	18.84%	–
XLK	New	SELECT SECTOR SPDR TRput	$75,840,000	–	1,920,000	–	11.10%	–
AGN	Buy	ALLERGAN PLC	$57,584,000	+46.7%	211,855	+63.8%	8.43%	+132.9%
PXD	Buy	PIONEER NAT RES CO	$52,964,000	-10.5%	435,413	+2.0%	7.75%	+42.1%
GOOGL	Buy	GOOGLE INCcl a	$35,306,000	+30.0%	55,306	+10.0%	5.17%	+106.4%
FDN	New	FIRST TR EXCHANGE TRADED FDput	$33,035,000	–	500,000	–	4.84%	–
QQQ	New	POWERSHARES QQQ TRUSTput	$28,493,000	–	280,000	–	4.17%	–
HCA	Sell	HCA HOLDINGS INC	$24,815,000	-45.9%	320,774	-36.6%	3.63%	-14.1%
ESRX	Buy	EXPRESS SCRIPTS HLDG CO	$23,206,000	+12.6%	286,640	+23.7%	3.40%	+78.8%
3106PS	Sell	DELPHI AUTOMOTIVE PLC	$21,332,000	-64.4%	280,539	-60.1%	3.12%	-43.4%
AIG	Sell	AMERICAN INTL GROUP INC	$19,745,000	-37.4%	347,508	-31.9%	2.89%	-0.7%
LNG	Sell	CHENIERE ENERGY INC	$18,285,000	-73.4%	378,563	-61.9%	2.68%	-57.8%
MYL	Sell	MYLAN N V	$17,332,000	-75.8%	430,500	-59.2%	2.54%	-61.5%
CQP	Buy	CHENIERE ENERGY PARTNERS LP	$15,769,000	-10.5%	598,663	+4.9%	2.31%	+42.2%
UAL	New	UNITED CONTL HLDGS INC	$13,687,000	–	258,000	–	2.00%	–
HRB	New	BLOCK H & R INC	$11,222,000	–	310,000	–	1.64%	–
YPF	Sell	YPF SOCIEDAD ANONIMAspon adr cl d	$10,529,000	-82.4%	691,312	-68.2%	1.54%	-72.0%
CC	Sell	CHEMOURS CO	$5,960,000	-70.6%	921,205	-27.2%	0.87%	-53.3%
GOOGL	New	GOOGLE INCcall	$1,596,000	–	2,500	–	0.23%	–
OIH	New	MARKET VECTORS ETF TRcall	$687,000	–	25,000	–	0.10%	–
MUFG	Exit	MITSUBISHI UFJ FINL GROUP INsponsored adr	$0	–	-495,551	–	-0.33%	–
CYH	Exit	COMMUNITY HEALTH SYS INC NEW	$0	–	-80,000	–	-0.46%	–
GREK	Exit	GLOBAL X FDSftse greece 20	$0	–	-560,011	–	-0.52%	–
AAPL	Exit	APPLE INC	$0	–	-74,445	–	-0.86%	–
RSX	Exit	MARKET VECTORS ETF TRrussia etf	$0	–	-516,801	–	-0.87%	–
PBR	Exit	PETROLEO BRASILEIRO SA PETROsponsored adr	$0	–	-1,052,918	–	-0.88%	–
SMFG	Exit	SUMITOMO MITSUI FINL GROUP Isponsored adr	$0	–	-223,451	–	-0.92%	–
LPI	Exit	LAREDO PETROLEUM INC	$0	–	-830,000	–	-0.96%	–
MFG	Exit	MIZUHO FINL GROUP INCsponsored adr	$0	–	-4,954,228	–	-0.99%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-105,018	–	-1.00%	–
ET	Exit	ENERGY TRANSFER EQUITY L P	$0	–	-169,555	–	-1.00%	–
RICE	Exit	RICE ENERGY INC	$0	–	-754,273	–	-1.45%	–
AYA	Exit	AMAYA INC	$0	–	-577,184	–	-1.46%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-601,200	–	-1.47%	–
AXLL	Exit	AXIALL CORP	$0	–	-447,627	–	-1.49%	–
URI	Exit	UNITED RENTALS INC	$0	–	-210,036	–	-1.70%	–
FCAU	Exit	FIAT CHRYSLER AUTOMOBILES N	$0	–	-1,307,718	–	-1.76%	–
DVN	Exit	DEVON ENERGY CORP NEW	$0	–	-326,961	–	-1.79%	–
OCR	Exit	OMNICARE INC	$0	–	-208,046	–	-1.81%	–
NEE	Exit	NEXTERA ENERGY INC	$0	–	-209,286	–	-1.89%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-361,310	–	-2.26%	–
C	Exit	CITIGROUP INC	$0	–	-681,610	–	-3.47%	–
BAC	Exit	BANK AMER CORP	$0	–	-3,401,600	–	-5.34%	–
NI	Exit	NISOURCE INC	$0	–	-2,019,646	–	-8.49%	–

Q2 2015

			Value		Shares		↓ Weighting
NI	New	NISOURCE INC	$92,076,000	–	2,019,646	–	8.49%	–
MYL	New	MYLAN N V	$71,558,000	–	1,054,500	–	6.60%	–
LNG	New	CHENIERE ENERGY INC	$68,780,000	–	993,063	–	6.34%	–
3106PS	New	DELPHI AUTOMOTIVE PLC	$59,841,000	–	703,267	–	5.52%	–
YPF	New	YPF SOCIEDAD ANONIMAspon adr cl d	$59,672,000	–	2,175,412	–	5.50%	–
PXD	New	PIONEER NAT RES CO	$59,209,000	–	426,913	–	5.46%	–
BAC	New	BANK AMER CORP	$57,895,000	–	3,401,600	–	5.34%	–
HCA	New	HCA HOLDINGS INC	$45,886,000	–	505,797	–	4.23%	–
AGN	New	ALLERGAN PLC	$39,254,000	–	129,355	–	3.62%	–
C	New	CITIGROUP INC	$37,652,000	–	681,610	–	3.47%	–
AIG	New	AMERICAN INTL GROUP INC	$31,560,000	–	510,508	–	2.91%	–
GOOGL	New	GOOGLE INCcl a	$27,156,000	–	50,286	–	2.50%	–
JPM	New	JPMORGAN CHASE & CO	$24,482,000	–	361,310	–	2.26%	–
ESRX	New	EXPRESS SCRIPTS HLDG CO	$20,602,000	–	231,640	–	1.90%	–
NEE	New	NEXTERA ENERGY INC	$20,516,000	–	209,286	–	1.89%	–
ALLY	New	ALLY FINL INC	$20,422,000	–	910,480	–	1.88%	–
CC	New	CHEMOURS CO	$20,255,000	–	1,265,939	–	1.87%	–
OCR	New	OMNICARE INC	$19,608,000	–	208,046	–	1.81%	–
DVN	New	DEVON ENERGY CORP NEW	$19,451,000	–	326,961	–	1.79%	–
FCAU	New	FIAT CHRYSLER AUTOMOBILES N	$19,132,000	–	1,307,718	–	1.76%	–
MCD	New	MCDONALDS CORP	$18,639,000	–	196,053	–	1.72%	–
URI	New	UNITED RENTALS INC	$18,403,000	–	210,036	–	1.70%	–
CQP	New	CHENIERE ENERGY PARTNERS LP	$17,612,000	–	570,901	–	1.62%	–
AXLL	New	AXIALL CORP	$16,137,000	–	447,627	–	1.49%	–
GE	New	GENERAL ELECTRIC CO	$15,974,000	–	601,200	–	1.47%	–
AYA	New	AMAYA INC	$15,810,000	–	577,184	–	1.46%	–
RICE	New	RICE ENERGY INC	$15,712,000	–	754,273	–	1.45%	–
YNDX	New	YANDEX N V	$11,908,000	–	782,400	–	1.10%	–
ET	New	ENERGY TRANSFER EQUITY L P	$10,880,000	–	169,555	–	1.00%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$10,871,000	–	105,018	–	1.00%	–
MFG	New	MIZUHO FINL GROUP INCsponsored adr	$10,731,000	–	4,954,228	–	0.99%	–
LPI	New	LAREDO PETROLEUM INC	$10,441,000	–	830,000	–	0.96%	–
TEO	New	TELECOM ARGENTINA S Aspon adr rep b	$9,972,000	–	554,328	–	0.92%	–
SMFG	New	SUMITOMO MITSUI FINL GROUP Isponsored adr	$9,971,000	–	223,451	–	0.92%	–
PBR	New	PETROLEO BRASILEIRO SA PETROsponsored adr	$9,529,000	–	1,052,918	–	0.88%	–
RSX	New	MARKET VECTORS ETF TRrussia etf	$9,447,000	–	516,801	–	0.87%	–
AAPL	New	APPLE INC	$9,337,000	–	74,445	–	0.86%	–
BEAV	New	B/E AEROSPACE INC	$8,691,000	–	158,301	–	0.80%	–
EDN	New	EMPRESA DIST Y COMERCIAL NORspon adr	$7,334,000	–	567,184	–	0.68%	–
PAM	New	PAMPA ENERGIA S Aspons adr lvl i	$7,323,000	–	530,267	–	0.68%	–
GREK	New	GLOBAL X FDSftse greece 20	$5,634,000	–	560,011	–	0.52%	–
VNOM	New	VIPER ENERGY PARTNERS LP	$5,632,000	–	286,017	–	0.52%	–
GOOG	New	GOOGLE INCcl c	$5,471,000	–	10,511	–	0.50%	–
CYH	New	COMMUNITY HEALTH SYS INC NEW	$5,038,000	–	80,000	–	0.46%	–
MUFG	New	MITSUBISHI UFJ FINL GROUP INsponsored adr	$3,564,000	–	495,551	–	0.33%	–

Q4 2014

			Value		Shares		↓ Weighting
GMWSB	Exit	GENERAL MTRS CO*w exp 07/10/201	$0	–	-57,451	–	-0.05%	–
GMWSA	Exit	GENERAL MTRS CO*w exp 07/10/201	$0	–	-57,451	–	-0.08%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-25,000	–	-0.14%	–
	Exit	PAMPA ENERGIA S Aspons adr lvl i	$0	–	-233,356	–	-0.16%	–
CQP	Exit	CHENIERE ENERGY PARTNERS LP	$0	–	-77,779	–	-0.16%	–
GULTU	Exit	GULF COAST ULTRA DEEP RTY TRroyalty tr unt	$0	–	-2,014,179	–	-0.26%	–
EDN	Exit	EMPRESA DIST Y COMERCIAL NORspon adr	$0	–	-401,092	–	-0.29%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-64,000	–	-0.31%	–
OCR	Exit	OMNICARE INC	$0	–	-120,660	–	-0.49%	–
TEO	Exit	TELECOM ARGENTINA S Aspon adr rep b	$0	–	-390,128	–	-0.51%	–
BEAV	Exit	B/E AEROSPACE INC	$0	–	-95,000	–	-0.52%	–
GOOG	Exit	GOOGLE INCcl c	$0	–	-14,000	–	-0.52%	–
PCP	Exit	PRECISION CASTPARTS CORP	$0	–	-35,000	–	-0.54%	–
AAPL	Exit	APPLE INC	$0	–	-88,634	–	-0.58%	–
SEMG	Exit	SEMGROUP CORPcl a	$0	–	-109,506	–	-0.59%	–
CYH	Exit	COMMUNITY HEALTH SYS INC NEW	$0	–	-180,000	–	-0.64%	–
MET	Exit	METLIFE INC	$0	–	-189,465	–	-0.66%	–
RSX	Exit	MARKET VECTORS ETF TRrussia etf	$0	–	-659,000	–	-0.95%	–
MPC	Exit	MARATHON PETE CORP	$0	–	-181,907	–	-1.00%	–
F	Exit	FORD MTR CO DEL	$0	–	-1,061,600	–	-1.02%	–
YHOO	Exit	YAHOO INC	$0	–	-410,000	–	-1.08%	–
ALLY	Exit	ALLY FINL INC	$0	–	-767,600	–	-1.15%	–
CBS	Exit	CBS CORP NEWcl b	$0	–	-354,820	–	-1.23%	–
J106OPTLDIV	Exit	CBS OUTDOOR AMERS INC	$0	–	-653,403	–	-1.26%	–
GM	Exit	GENERAL MTRS CO	$0	–	-671,330	–	-1.39%	–
3106PS	Exit	DELPHI AUTOMOTIVE PLC	$0	–	-376,888	–	-1.50%	–
XOP	Exit	SPDR SERIES TRUSTs&p oilgas exp	$0	–	-344,000	–	-1.53%	–
SBGI	Exit	SINCLAIR BROADCAST GROUP INCcl a	$0	–	-1,190,066	–	-2.01%	–
APC	Exit	ANADARKO PETE CORP	$0	–	-308,703	–	-2.02%	–
F	Exit	FORD MTR CO DELcall	$0	–	-2,500,000	–	-2.39%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-63,998	–	-2.44%	–
ET	Exit	ENERGY TRANSFER EQUITY L P	$0	–	-623,078	–	-2.49%	–
ATHL	Exit	ATHLON ENERGY INC	$0	–	-738,401	–	-2.78%	–
TRP	Exit	TRANSCANADA CORP	$0	–	-850,900	–	-2.84%	–
MCD	Exit	MCDONALDS CORPcall	$0	–	-500,000	–	-3.06%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-922,812	–	-3.22%	–
NCR	Exit	NCR CORP NEW	$0	–	-1,518,200	–	-3.28%	–
HCA	Exit	HCA HOLDINGS INC	$0	–	-775,747	–	-3.54%	–
PXD	Exit	PIONEER NAT RES CO	$0	–	-309,606	–	-3.94%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-1,194,167	–	-6.18%	–
YPF	Exit	YPF SOCIEDAD ANONIMAspon adr cl d	$0	–	-3,275,320	–	-7.83%	–
XOP	Exit	SPDR SERIES TRUSTcall	$0	–	-1,790,000	–	-7.97%	–
IWM	Exit	ISHARES TRcall	$0	–	-1,270,000	–	-8.98%	–
SPY	Exit	SPDR S&P 500 ETF TRcall	$0	–	-1,290,000	–	-16.43%	–

Q3 2014

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRcall	$254,156,000	–	1,290,000	–	16.43%	–
IWM	New	ISHARES TRcall	$138,875,000	–	1,270,000	–	8.98%	–
XOP	New	SPDR SERIES TRUSTcall	$123,206,000	–	1,790,000	–	7.97%	–
YPF	Sell	YPF SOCIEDAD ANONIMAspon adr cl d	$121,154,000	+6.2%	3,275,320	-6.1%	7.83%	+6.9%
LNG	Sell	CHENIERE ENERGY INC	$95,569,000	+0.8%	1,194,167	-9.7%	6.18%	+1.4%
PXD	Buy	PIONEER NAT RES CO	$60,983,000	-5.3%	309,606	+10.5%	3.94%	-4.7%
HCA	Sell	HCA HOLDINGS INC	$54,706,000	-46.6%	775,747	-57.3%	3.54%	-46.3%
NCR	Buy	NCR CORP NEW	$50,723,000	+3.3%	1,518,200	+8.4%	3.28%	+3.9%
AIG	Buy	AMERICAN INTL GROUP INC	$49,850,000	+0.2%	922,812	+1.3%	3.22%	+0.8%
MCD	New	MCDONALDS CORPcall	$47,405,000	–	500,000	–	3.06%	–
TRP	New	TRANSCANADA CORP	$43,847,000	–	850,900	–	2.84%	–
ATHL	Buy	ATHLON ENERGY INC	$42,997,000	+300.6%	738,401	+228.2%	2.78%	+302.9%
ET	Sell	ENERGY TRANSFER EQUITY L P	$38,438,000	+1.2%	623,078	-3.4%	2.49%	+1.8%
GOOGL	Buy	GOOGLE INCcl a	$37,657,000	+2.2%	63,998	+1.6%	2.44%	+2.8%
F	New	FORD MTR CO DELcall	$36,975,000	–	2,500,000	–	2.39%	–
APC	Buy	ANADARKO PETE CORP	$31,315,000	-6.1%	308,703	+1.3%	2.02%	-5.6%
SBGI	Buy	SINCLAIR BROADCAST GROUP INCcl a	$31,049,000	-15.8%	1,190,066	+12.2%	2.01%	-15.3%
XOP	New	SPDR SERIES TRUSTs&p oilgas exp	$23,678,000	–	344,000	–	1.53%	–
3106PS	Buy	DELPHI AUTOMOTIVE PLC	$23,118,000	+50.1%	376,888	+68.3%	1.50%	+51.0%
GM	Sell	GENERAL MTRS CO	$21,442,000	-55.4%	671,330	-49.3%	1.39%	-55.1%
J106OPTLDIV	New	CBS OUTDOOR AMERS INC	$19,563,000	–	653,403	–	1.26%	–
CBS	Sell	CBS CORP NEWcl b	$18,983,000	-25.7%	354,820	-13.7%	1.23%	-25.3%
ALLY	Buy	ALLY FINL INC	$17,762,000	-1.0%	767,600	+2.3%	1.15%	-0.3%
YHOO	Sell	YAHOO INC	$16,708,000	+5.7%	410,000	-8.9%	1.08%	+6.3%
F	Buy	FORD MTR CO DEL	$15,701,000	-13.1%	1,061,600	+1.3%	1.02%	-12.6%
MPC	Buy	MARATHON PETE CORP	$15,402,000	+181.8%	181,907	+159.9%	1.00%	+183.8%
RSX	New	MARKET VECTORS ETF TRrussia etf	$14,742,000	–	659,000	–	0.95%	–
MET	Buy	METLIFE INC	$10,178,000	-2.0%	189,465	+1.4%	0.66%	-1.5%
CYH	Sell	COMMUNITY HEALTH SYS INC NEW	$9,862,000	-59.4%	180,000	-66.4%	0.64%	-59.2%
SEMG	Sell	SEMGROUP CORPcl a	$9,119,000	-50.0%	109,506	-52.7%	0.59%	-49.7%
AAPL	Buy	APPLE INC	$8,930,000	+9.8%	88,634	+1.3%	0.58%	+10.3%
PCP	New	PRECISION CASTPARTS CORP	$8,291,000	–	35,000	–	0.54%	–
BEAV	New	B/E AEROSPACE INC	$7,974,000	–	95,000	–	0.52%	–
TEO	Buy	TELECOM ARGENTINA S Aspon adr rep b	$7,920,000	+49.1%	390,128	+73.0%	0.51%	+50.1%
OCR	New	OMNICARE INC	$7,512,000	–	120,660	–	0.49%	–
MA	New	MASTERCARD INCcl a	$4,731,000	–	64,000	–	0.31%	–
EDN	Buy	EMPRESA DIST Y COMERCIAL NORspon adr	$4,460,000	+53.8%	401,092	+74.6%	0.29%	+54.8%
GULTU	Sell	GULF COAST ULTRA DEEP RTY TRroyalty tr unt	$4,028,000	-39.9%	2,014,179	-11.9%	0.26%	-39.7%
CQP	Sell	CHENIERE ENERGY PARTNERS LP	$2,545,000	-69.8%	77,779	-69.5%	0.16%	-69.5%
	New	PAMPA ENERGIA S Aspons adr lvl i	$2,509,000	–	233,356	–	0.16%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$2,221,000	–	25,000	–	0.14%	–
THC	Exit	TENET HEALTHCARE CORPcall	$0	–	-50,000	–	-0.15%	–
OCN	Exit	OCWEN FINL CORP	$0	–	-200,000	–	-0.48%	–
COG	Exit	CABOT OIL & GAS CORP	$0	–	-238,000	–	-0.52%	–
NMIH	Exit	NMI HLDGS INCcl a	$0	–	-1,044,743	–	-0.70%	–
AMP	Exit	AMERIPRISE FINL INC	$0	–	-95,840	–	-0.74%	–
CQH	Exit	CHENIERE ENERGY PTNRS LP HLD	$0	–	-504,000	–	-0.80%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-80,000	–	-1.01%	–
EGN	Exit	ENERGEN CORP	$0	–	-202,885	–	-1.16%	–
WMB	Exit	WILLIAMS COS INC DEL	$0	–	-340,000	–	-1.27%	–
THC	Exit	TENET HEALTHCARE CORP	$0	–	-550,000	–	-1.66%	–
YPF	Exit	YPF SOCIEDAD ANONIMAcall	$0	–	-890,000	–	-1.87%	–
HAL	Exit	HALLIBURTON CO	$0	–	-452,816	–	-2.07%	–
HCA	Exit	HCA HOLDINGS INCcall	$0	–	-700,000	–	-2.54%	–
GM	Exit	GENERAL MTRS COcall	$0	–	-1,560,000	–	-3.64%	–
QQQ	Exit	POWERSHARES QQQ TRUSTput	$0	–	-1,146,500	–	-6.92%	–
HYG	Exit	ISHARESput	$0	–	-1,159,000	–	-7.09%	–
IYT	Exit	ISHARESput	$0	–	-1,200,000	–	-11.34%	–

Q2 2014

			Value		Shares		↓ Weighting
IYT	New	ISHARESput	$176,412,000	–	1,200,000	–	11.34%	–
YPF	New	YPF SOCIEDAD ANONIMAspon adr cl d	$114,031,000	–	3,489,317	–	7.33%	–
HYG	New	ISHARESput	$110,337,000	–	1,159,000	–	7.09%	–
QQQ	New	POWERSHARES QQQ TRUSTput	$107,668,000	–	1,146,500	–	6.92%	–
HCA	New	HCA HOLDINGS INC	$102,507,000	–	1,818,147	–	6.59%	–
LNG	New	CHENIERE ENERGY INC	$94,782,000	–	1,321,931	–	6.09%	–
PXD	New	PIONEER NAT RES CO	$64,393,000	–	280,200	–	4.14%	–
GM	New	GENERAL MTRS COcall	$56,628,000	–	1,560,000	–	3.64%	–
AIG	New	AMERICAN INTL GROUP INC	$49,728,000	–	911,112	–	3.20%	–
NCR	New	NCR CORP NEW	$49,126,000	–	1,400,000	–	3.16%	–
GM	New	GENERAL MTRS CO	$48,066,000	–	1,324,130	–	3.09%	–
HCA	New	HCA HOLDINGS INCcall	$39,466,000	–	700,000	–	2.54%	–
ET	New	ENERGY TRANSFER EQUITY L P	$37,998,000	–	644,696	–	2.44%	–
SBGI	New	SINCLAIR BROADCAST GROUP INCcl a	$36,860,000	–	1,060,719	–	2.37%	–
GOOGL	New	GOOGLE INCcl a	$36,834,000	–	63,000	–	2.37%	–
APC	New	ANADARKO PETE CORP	$33,361,000	–	304,752	–	2.14%	–
HAL	New	HALLIBURTON CO	$32,154,000	–	452,816	–	2.07%	–
YPF	New	YPF SOCIEDAD ANONIMAcall	$29,085,000	–	890,000	–	1.87%	–
THC	New	TENET HEALTHCARE CORP	$25,817,000	–	550,000	–	1.66%	–
CBS	New	CBS CORP NEWcl b	$25,540,000	–	411,000	–	1.64%	–
CYH	New	COMMUNITY HEALTH SYS INC NEW	$24,291,000	–	535,400	–	1.56%	–
WMB	New	WILLIAMS COS INC DEL	$19,791,000	–	340,000	–	1.27%	–
SEMG	New	SEMGROUP CORPcl a	$18,236,000	–	231,277	–	1.17%	–
F	New	FORD MTR CO DEL	$18,068,000	–	1,048,000	–	1.16%	–
EGN	New	ENERGEN CORP	$18,032,000	–	202,885	–	1.16%	–
ALLY	New	ALLY FINL INC	$17,933,000	–	750,000	–	1.15%	–
YHOO	New	YAHOO INC	$15,809,000	–	450,000	–	1.02%	–
SPY	New	SPDR S&P 500 ETF TRput	$15,658,000	–	80,000	–	1.01%	–
3106PS	New	DELPHI AUTOMOTIVE PLC	$15,397,000	–	223,984	–	0.99%	–
CQH	New	CHENIERE ENERGY PTNRS LP HLD	$12,519,000	–	504,000	–	0.80%	–
AMP	New	AMERIPRISE FINL INC	$11,501,000	–	95,840	–	0.74%	–
NMIH	New	NMI HLDGS INCcl a	$10,970,000	–	1,044,743	–	0.70%	–
ATHL	New	ATHLON ENERGY INC	$10,733,000	–	225,000	–	0.69%	–
MET	New	METLIFE INC	$10,386,000	–	186,940	–	0.67%	–
CQP	New	CHENIERE ENERGY PARTNERS LP	$8,415,000	–	254,693	–	0.54%	–
AAPL	New	APPLE INC	$8,131,000	–	87,500	–	0.52%	–
COG	New	CABOT OIL & GAS CORP	$8,125,000	–	238,000	–	0.52%	–
GOOG	New	GOOGLE INCcl c	$8,054,000	–	14,000	–	0.52%	–
OCN	New	OCWEN FINL CORP	$7,420,000	–	200,000	–	0.48%	–
GULTU	New	GULF COAST ULTRA DEEP RTY TRroyalty tr unt	$6,699,000	–	2,286,365	–	0.43%	–
MPC	New	MARATHON PETE CORP	$5,465,000	–	70,000	–	0.35%	–
TEO	New	TELECOM ARGENTINA S Aspon adr rep b	$5,311,000	–	225,500	–	0.34%	–
EDN	New	EMPRESA DIST Y COMERCIAL NORspon adr	$2,899,000	–	229,705	–	0.19%	–
THC	New	TENET HEALTHCARE CORPcall	$2,347,000	–	50,000	–	0.15%	–
GMWSA	New	GENERAL MTRS CO*w exp 07/10/201	$1,529,000	–	57,451	–	0.10%	–
GMWSB	New	GENERAL MTRS CO*w exp 07/10/201	$1,066,000	–	57,451	–	0.07%	–

Q4 2013

			Value		Shares		↓ Weighting
GMWSB	Exit	GENERAL MTRS CO*w exp 07/10/201	$0	–	-54,747	–	-0.06%	–
GMWSA	Exit	GENERAL MTRS CO*w exp 07/10/201	$0	–	-54,747	–	-0.08%	–
BZH	Exit	BEAZER HOMES USA INC	$0	–	-344,859	–	-0.34%	–
UAL	Exit	UNITED CONTL HLDGS INC	$0	–	-205,886	–	-0.34%	–
AAPL	Exit	APPLE INC	$0	–	-14,000	–	-0.36%	–
CQP	Exit	CHENIERE ENERGY PARTNERS LP	$0	–	-254,693	–	-0.36%	–
MPC	Exit	MARATHON PETE CORP	$0	–	-112,500	–	-0.39%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-225,522	–	-0.45%	–
ROC	Exit	ROCKWOOD HLDGS INC	$0	–	-152,898	–	-0.55%	–
URI	Exit	UNITED RENTALS INC	$0	–	-199,595	–	-0.63%	–
DAN	Exit	DANA HLDG CORP	$0	–	-565,605	–	-0.70%	–
CNQ	Exit	CANADIAN NAT RES LTDcall	$0	–	-500,000	–	-0.85%	–
VC	Exit	VISTEON CORP	$0	–	-246,669	–	-1.01%	–
AMP	Exit	AMERIPRISE FINL INC	$0	–	-205,840	–	-1.02%	–
3106PS	Exit	DELPHI AUTOMOTIVE PLC	$0	–	-336,434	–	-1.06%	–
QCOM	Exit	QUALCOMM INC	$0	–	-310,000	–	-1.13%	–
OC	Exit	OWENS CORNING NEW	$0	–	-550,173	–	-1.13%	–
TRP	Exit	TRANSCANADA CORPcall	$0	–	-500,000	–	-1.19%	–
XLI	Exit	SELECT SECTOR SPDR TRcall	$0	–	-500,000	–	-1.26%	–
MET	Exit	METLIFE INC	$0	–	-544,220	–	-1.38%	–
HAL	Exit	HALLIBURTON CO	$0	–	-539,347	–	-1.40%	–
MS	Exit	MORGAN STANLEY	$0	–	-1,049,873	–	-1.53%	–
LYB	Exit	LYONDELLBASELL INDUSTRIES N	$0	–	-393,094	–	-1.56%	–
HTZ	Exit	HERTZ GLOBAL HOLDINGS INC	$0	–	-1,309,615	–	-1.57%	–
C	Exit	CITIGROUP INC	$0	–	-805,393	–	-2.11%	–
ETFC	Exit	E TRADE FINANCIAL CORP	$0	–	-2,428,166	–	-2.17%	–
HCA	Exit	HCA HOLDINGS INC	$0	–	-993,821	–	-2.30%	–
EQT	Exit	EQT CORP	$0	–	-496,282	–	-2.38%	–
GM	Exit	GENERAL MTRS CO	$0	–	-1,626,170	–	-3.16%	–
ET	Exit	ENERGY TRANSFER EQUITY L P	$0	–	-930,728	–	-3.31%	–
XLK	Exit	SELECT SECTOR SPDR TRcall	$0	–	-1,940,000	–	-3.36%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-1,280,966	–	-3.37%	–
SEMG	Exit	SEMGROUP CORPcl a	$0	–	-1,163,821	–	-3.59%	–
LNG	Exit	CHENIERE ENERGY INC	$0	–	-2,167,105	–	-4.00%	–
YPF	Exit	YPF SOCIEDAD ANONIMAspon adr cl d	$0	–	-4,225,577	–	-4.60%	–
XLF	Exit	SELECT SECTOR SPDR TRcall	$0	–	-5,540,000	–	-5.97%	–
DIA	Exit	SPDR DOW JONES INDL AVRG ETFcall	$0	–	-1,485,000	–	-12.14%	–
SPY	Exit	SPDR S&P 500 ETF TRcall	$0	–	-2,987,700	–	-27.16%	–

Q3 2013

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRcall	$501,963,000	–	2,987,700	–	27.16%	–
DIA	New	SPDR DOW JONES INDL AVRG ETFcall	$224,235,000	–	1,485,000	–	12.14%	–
XLF	Buy	SELECT SECTOR SPDR TRcall	$110,274,000	+13170.0%	5,540,000	+360.0%	5.97%	+5044.8%
YPF	Buy	YPF SOCIEDAD ANONIMAspon adr cl d	$85,061,000	+61.2%	4,225,577	+18.2%	4.60%	-37.5%
LNG	Buy	CHENIERE ENERGY INC	$73,985,000	+35.5%	2,167,105	+10.2%	4.00%	-47.5%
SEMG	Buy	SEMGROUP CORPcl a	$66,361,000	+19.5%	1,163,821	+12.9%	3.59%	-53.7%
AIG	Sell	AMERICAN INTL GROUP INC	$62,293,000	-7.3%	1,280,966	-14.8%	3.37%	-64.1%
XLK	New	SELECT SECTOR SPDR TRcall	$62,158,000	–	1,940,000	–	3.36%	–
ET	New	ENERGY TRANSFER EQUITY L P	$61,223,000	–	930,728	–	3.31%	–
EQT	Buy	EQT CORP	$44,030,000	+33.9%	496,282	+19.8%	2.38%	-48.1%
HCA	Buy	HCA HOLDINGS INC	$42,486,000	+110.8%	993,821	+77.8%	2.30%	-18.3%
ETFC	Buy	E TRADE FINANCIAL CORP	$40,065,000	+139.0%	2,428,166	+83.4%	2.17%	-7.4%
HTZ	Sell	HERTZ GLOBAL HOLDINGS INC	$29,021,000	-27.0%	1,309,615	-18.3%	1.57%	-71.7%
LYB	Buy	LYONDELLBASELL INDUSTRIES N	$28,786,000	+10.6%	393,094	+0.1%	1.56%	-57.1%
MS	Sell	MORGAN STANLEY	$28,294,000	-15.1%	1,049,873	-23.0%	1.53%	-67.1%
MET	Buy	METLIFE INC	$25,551,000	+49.6%	544,220	+45.8%	1.38%	-42.0%
XLI	New	SELECT SECTOR SPDR TRcall	$23,203,000	–	500,000	–	1.26%	–
TRP	New	TRANSCANADA CORPcall	$21,970,000	–	500,000	–	1.19%	–
QCOM	New	QUALCOMM INC	$20,869,000	–	310,000	–	1.13%	–
VC	Buy	VISTEON CORP	$18,658,000	+24.9%	246,669	+4.2%	1.01%	-51.6%
CNQ	Buy	CANADIAN NAT RES LTDcall	$15,720,000	+65400.0%	500,000	+809.1%	0.85%	+28266.7%
ROC	Sell	ROCKWOOD HLDGS INC	$10,229,000	-30.8%	152,898	-33.7%	0.55%	-73.1%
MPC	New	MARATHON PETE CORP	$7,236,000	–	112,500	–	0.39%	–
AAPL	New	APPLE INC	$6,675,000	–	14,000	–	0.36%	–
APAGF	Exit	APCO OIL & GAS INTERNATIONAL	$0	–	-278,759	–	-0.45%	–
MTG	Exit	MGIC INVT CORP WIS	$0	–	-618,651	–	-0.52%	–
LCC	Exit	U S AIRWAYS GROUP INC	$0	–	-387,980	–	-0.89%	–
EXXIQ	Exit	ENERGY XXI (BERMUDA) LTD	$0	–	-381,099	–	-1.18%	–
MAS	Exit	MASCO CORP	$0	–	-690,561	–	-1.88%	–
KBR	Exit	KBR INC	$0	–	-422,066	–	-1.92%	–

Q2 2013

			Value		Shares		↓ Weighting
AIG	New	AMERICAN INTL GROUP INC	$67,183,000	–	1,502,966	–	9.38%	–
SEMG	New	SEMGROUP CORPcl a	$55,542,000	–	1,031,221	–	7.75%	–
LNG	New	CHENIERE ENERGY INC	$54,612,000	–	1,967,308	–	7.62%	–
GM	New	GENERAL MTRS CO	$54,168,000	–	1,626,170	–	7.56%	–
YPF	New	YPF SOCIEDAD ANONIMAspon adr cl d	$52,783,000	–	3,576,092	–	7.37%	–
HTZ	New	HERTZ GLOBAL HOLDINGS INC	$39,745,000	–	1,602,615	–	5.55%	–
C	New	CITIGROUP INC	$38,635,000	–	805,393	–	5.39%	–
MS	New	MORGAN STANLEY	$33,319,000	–	1,363,873	–	4.65%	–
EQT	New	EQT CORP	$32,882,000	–	414,282	–	4.59%	–
LYB	New	LYONDELLBASELL INDUSTRIES N	$26,026,000	–	392,793	–	3.63%	–
HAL	New	HALLIBURTON CO	$22,502,000	–	539,347	–	3.14%	–
OC	New	OWENS CORNING NEW	$21,501,000	–	550,173	–	3.00%	–
HCA	New	HCA HOLDINGS INC	$20,151,000	–	558,821	–	2.81%	–
MET	New	METLIFE INC	$17,079,000	–	373,220	–	2.38%	–
3106PS	New	DELPHI AUTOMOTIVE PLC	$17,054,000	–	336,434	–	2.38%	–
ETFC	New	E TRADE FINANCIAL CORP	$16,764,000	–	1,324,166	–	2.34%	–
AMP	New	AMERIPRISE FINL INC	$16,648,000	–	205,840	–	2.32%	–
VC	New	VISTEON CORP	$14,939,000	–	236,669	–	2.09%	–
ROC	New	ROCKWOOD HLDGS INC	$14,772,000	–	230,698	–	2.06%	–
KBR	New	KBR INC	$13,717,000	–	422,066	–	1.92%	–
MAS	New	MASCO CORP	$13,459,000	–	690,561	–	1.88%	–
DAN	New	DANA HLDG CORP	$10,894,000	–	565,605	–	1.52%	–
URI	New	UNITED RENTALS INC	$9,962,000	–	199,595	–	1.39%	–
EXXIQ	New	ENERGY XXI (BERMUDA) LTD	$8,451,000	–	381,099	–	1.18%	–
CQP	New	CHENIERE ENERGY PARTNERS LP	$7,613,000	–	254,693	–	1.06%	–
NXPI	New	NXP SEMICONDUCTORS N V	$6,996,000	–	225,522	–	0.98%	–
UAL	New	UNITED CONTL HLDGS INC	$6,442,000	–	205,886	–	0.90%	–
LCC	New	U S AIRWAYS GROUP INC	$6,371,000	–	387,980	–	0.89%	–
BZH	New	BEAZER HOMES USA INC	$6,042,000	–	344,859	–	0.84%	–
MTG	New	MGIC INVT CORP WIS	$3,755,000	–	618,651	–	0.52%	–
APAGF	New	APCO OIL & GAS INTERNATIONAL	$3,214,000	–	278,759	–	0.45%	–
GMWSA	New	GENERAL MTRS CO*w exp 07/10/201	$1,314,000	–	54,747	–	0.18%	–
GMWSB	New	GENERAL MTRS CO*w exp 07/10/201	$895,000	–	54,747	–	0.12%	–
XLF	New	SELECT SECTOR SPDR TRcall	$831,000	–	1,204,400	–	0.12%	–
CNQ	New	CANADIAN NAT RES LTDcall	$24,000	–	55,000	–	0.00%	–

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