Q4 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| NEM | Sell | Newmont Corp. | $101,312,000 | -7.8% | 1,691,640 | -2.3% | 16.47% | +30.8% |
| BRKB | Sell | Berkshire Hathaway Inccl b | $82,468,000 | -20.1% | 355,666 | -26.6% | 13.41% | +13.4% |
| LKQ | Sell | LKQ Corp | $71,147,000 | -6.6% | 2,018,923 | -26.5% | 11.57% | +32.5% |
| BRKA | Sell | Berkshire Hathaway Inccl a | $60,868,000 | -20.7% | 175 | -27.1% | 9.90% | +12.4% |
| WU | Sell | Western Union Co | $52,674,000 | -22.2% | 2,400,834 | -24.0% | 8.56% | +10.3% |
| WFC | Sell | Wells Fargo & Co. | $44,128,000 | -20.1% | 1,462,162 | -37.8% | 7.17% | +13.3% |
| ATGE | Sell | Adtalem | $37,750,000 | -31.5% | 1,111,934 | -50.5% | 6.14% | -2.8% |
| GOLD | Sell | Barrick Gold Corp | $22,672,000 | -20.5% | 995,262 | -1.9% | 3.69% | +12.8% |
| CDK | Sell | CDK Global Inc. | $21,855,000 | -12.5% | 421,669 | -26.4% | 3.55% | +24.1% |
| SINA | Sell | Sina Corp | $21,827,000 | -25.4% | 515,029 | -25.0% | 3.55% | +5.8% |
| BIDU | Sell | Baidu Incspon adr rep a | $19,521,000 | +29.9% | 90,273 | -24.0% | 3.17% | +84.2% |
| MA | Sell | Mastercard Inccl a | $16,878,000 | -22.2% | 47,285 | -26.3% | 2.74% | +10.4% |
| GOOGL | Sell | Alphabet Inccap stk cl a | $13,918,000 | -48.9% | 7,941 | -57.2% | 2.26% | -27.4% |
| IAU | Sell | iShares Gold Trustishares | $13,716,000 | -75.6% | 756,558 | -75.8% | 2.23% | -65.4% |
| AXP | Sell | American Express Company | $9,088,000 | -10.9% | 75,161 | -26.1% | 1.48% | +26.3% |
| SKX | Sell | Skechers USA Inc. Class A | $8,613,000 | -41.5% | 239,646 | -50.8% | 1.40% | -17.0% |
| FLS | Sell | Flowserve Corp. | $7,748,000 | +0.7% | 210,261 | -25.4% | 1.26% | +42.9% |
| QRTEA | Sell | Qurate Retail Inc | $4,287,000 | +12.0% | 390,753 | -26.7% | 0.70% | +58.8% |
| LOMA | Sell | Loma Negra Corpspon ads | $3,034,000 | -20.8% | 493,401 | -44.5% | 0.49% | +12.3% |
| ATRO | Sell | Astronics Corp | $1,245,000 | -90.3% | 94,125 | -94.3% | 0.20% | -86.3% |
| FENG | Sell | Phoenix New Media Ltdspon ads | $387,000 | -81.4% | 322,657 | -80.9% | 0.06% | -73.5% |
| UEPS | Exit | Net 1 UEPS Technologies | $0 | – | -798,561 | – | -0.31% | – |
| CRTO | Exit | Criteo SAspon ads | $0 | – | -376,719 | – | -0.53% | – |
| SLB | Exit | Schlumberger Ltd | $0 | – | -300,046 | – | -0.54% | – |
| TPR | Exit | Tapestry Inc. | $0 | – | -610,573 | – | -1.09% | – |
| CVX | Exit | Chevron | $0 | – | -330,154 | – | -2.72% | – |
| GOOG | Exit | Alphabet Inccap stk cl c | $0 | – | -17,074 | – | -2.88% | – |
Q3 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| NEM | Sell | Newmont Corp. | $109,890,000 | -6.5% | 1,731,913 | -9.0% | 12.60% | +44.5% |
| BRKB | Sell | Berkshire Hathaway Inccl b | $103,152,000 | -25.3% | 484,419 | -37.4% | 11.82% | +15.4% |
| BRKA | Sell | Berkshire Hathaway Inccl a | $76,800,000 | -42.9% | 240 | -52.3% | 8.80% | -11.7% |
| LKQ | Sell | LKQ Corp | $76,164,000 | -46.6% | 2,746,611 | -49.6% | 8.73% | -17.5% |
| WU | Sell | Western Union Co | $67,710,000 | -34.2% | 3,159,601 | -33.6% | 7.76% | +1.7% |
| IAU | Sell | iShares Gold Trustishares | $56,224,000 | -44.0% | 3,125,303 | -47.1% | 6.44% | -13.4% |
| WFC | New | Wells Fargo & Co. | $55,255,000 | – | 2,350,260 | – | 6.33% | – |
| ATGE | Sell | Adtalem | $55,070,000 | -40.0% | 2,244,072 | -23.8% | 6.31% | -7.3% |
| SINA | Sell | Sina Corp | $29,274,000 | -34.9% | 687,030 | -45.1% | 3.36% | +0.6% |
| GOLD | Sell | Barrick Gold Corp | $28,509,000 | +0.3% | 1,014,200 | -3.8% | 3.27% | +55.0% |
| GOOGL | Sell | Alphabet Inccap stk cl a | $27,212,000 | -35.0% | 18,567 | -37.1% | 3.12% | +0.4% |
| GOOG | Sell | Alphabet Inccap stk cl c | $25,092,000 | -27.1% | 17,074 | -29.9% | 2.88% | +12.7% |
| CDK | Sell | CDK Global Inc. | $24,988,000 | -32.3% | 573,258 | -35.7% | 2.86% | +4.6% |
| CVX | Sell | Chevron | $23,771,000 | -47.5% | 330,154 | -35.0% | 2.72% | -18.9% |
| MA | Sell | Mastercard Inccl a | $21,685,000 | -27.7% | 64,125 | -36.8% | 2.48% | +11.7% |
| BIDU | Sell | Baidu Incspon adr rep a | $15,032,000 | -47.9% | 118,746 | -50.6% | 1.72% | -19.4% |
| SKX | Sell | Skechers USA Inc. Class A | $14,718,000 | -44.1% | 487,043 | -41.9% | 1.69% | -13.5% |
| ATRO | Sell | Astronics Corp | $12,835,000 | -55.2% | 1,662,594 | -38.7% | 1.47% | -30.7% |
| AXP | Sell | American Express Company | $10,197,000 | -28.7% | 101,717 | -32.3% | 1.17% | +10.2% |
| TPR | New | Tapestry Inc. | $9,543,000 | – | 610,573 | – | 1.09% | – |
| FLS | Sell | Flowserve Corp. | $7,695,000 | -42.6% | 281,974 | -40.1% | 0.88% | -11.4% |
| SLB | Sell | Schlumberger Ltd | $4,669,000 | -84.0% | 300,046 | -81.0% | 0.54% | -75.2% |
| CRTO | Sell | Criteo SAspon ads | $4,592,000 | -50.8% | 376,719 | -54.0% | 0.53% | -24.0% |
| QRTEA | Sell | Qurate Retail Inc | $3,826,000 | -64.9% | 532,882 | -53.5% | 0.44% | -45.7% |
| LOMA | Sell | Loma Negra Corpspon ads | $3,832,000 | -59.6% | 888,982 | -60.1% | 0.44% | -37.6% |
| UEPS | Sell | Net 1 UEPS Technologies | $2,691,000 | -49.6% | 798,561 | -54.6% | 0.31% | -22.2% |
| FENG | Sell | Phoenix New Media Ltdspon ads | $2,080,000 | -69.7% | 1,691,403 | -63.6% | 0.24% | -53.3% |
| NWS | Exit | News Corpcl b | $0 | – | -22,953 | – | -0.02% | – |
| DLTR | Exit | Dollar Tree | $0 | – | -6,283 | – | -0.04% | – |
| SJM | Exit | J.M. Smucker Company | $0 | – | -16,122 | – | -0.13% | – |
| UN | Exit | Unilever NV ADRspon adr | $0 | – | -37,358 | – | -0.15% | – |
| BKNG | Exit | Booking Holdings Inc. | $0 | – | -2,217 | – | -0.26% | – |
| TIF | Exit | Tiffany & Co. | $0 | – | -93,706 | – | -0.85% | – |
| ORCL | Exit | Oracle Corp | $0 | – | -1,020,440 | – | -4.18% | – |
Q2 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| LKQ | New | LKQ Corp | $142,716,000 | – | 5,447,175 | – | 10.59% | – |
| BRKB | New | Berkshire Hathaway Inccl b | $138,128,000 | – | 773,784 | – | 10.25% | – |
| BRKA | New | Berkshire Hathaway Inccl a | $134,452,000 | – | 503 | – | 9.97% | – |
| NEM | New | Newmont Corp. | $117,494,000 | – | 1,903,038 | – | 8.72% | – |
| WU | New | Western Union Co | $102,868,000 | – | 4,758,014 | – | 7.63% | – |
| IAU | New | iShares Gold Trustishares | $100,369,000 | – | 5,907,539 | – | 7.44% | – |
| ATGE | New | Adtalem | $91,790,000 | – | 2,946,701 | – | 6.81% | – |
| ORCL | New | Oracle Corp | $56,400,000 | – | 1,020,440 | – | 4.18% | – |
| CVX | New | Chevron | $45,296,000 | – | 507,633 | – | 3.36% | – |
| SINA | New | Sina Corp | $44,963,000 | – | 1,252,090 | – | 3.34% | – |
| GOOGL | New | Alphabet Inccap stk cl a | $41,869,000 | – | 29,526 | – | 3.11% | – |
| CDK | New | CDK Global Inc. | $36,911,000 | – | 891,136 | – | 2.74% | – |
| GOOG | New | Alphabet Inccap stk cl c | $34,413,000 | – | 24,344 | – | 2.55% | – |
| MA | New | Mastercard Inccl a | $29,981,000 | – | 101,391 | – | 2.22% | – |
| SLB | New | Schlumberger Ltd | $29,118,000 | – | 1,583,348 | – | 2.16% | – |
| BIDU | New | Baidu Incspon adr rep a | $28,826,000 | – | 240,437 | – | 2.14% | – |
| ATRO | New | Astronics Corp | $28,624,000 | – | 2,710,637 | – | 2.12% | – |
| GOLD | New | Barrick Gold Corp | $28,415,000 | – | 1,054,733 | – | 2.11% | – |
| SKX | New | Skechers USA Inc. Class A | $26,307,000 | – | 838,341 | – | 1.95% | – |
| AXP | New | American Express Company | $14,307,000 | – | 150,287 | – | 1.06% | – |
| FLS | New | Flowserve Corp. | $13,416,000 | – | 470,414 | – | 1.00% | – |
| TIF | New | Tiffany & Co. | $11,427,000 | – | 93,706 | – | 0.85% | – |
| QRTEA | New | Qurate Retail Inc | $10,896,000 | – | 1,146,899 | – | 0.81% | – |
| LOMA | New | Loma Negra Corpspon ads | $9,490,000 | – | 2,227,759 | – | 0.70% | – |
| CRTO | New | Criteo SAspon ads | $9,328,000 | – | 819,006 | – | 0.69% | – |
| FENG | New | Phoenix New Media Ltdspon ads | $6,872,000 | – | 4,643,560 | – | 0.51% | – |
| UEPS | New | Net 1 UEPS Technologies | $5,342,000 | – | 1,757,266 | – | 0.40% | – |
| BKNG | New | Booking Holdings Inc. | $3,530,000 | – | 2,217 | – | 0.26% | – |
| UN | New | Unilever NV ADRspon adr | $1,990,000 | – | 37,358 | – | 0.15% | – |
| SJM | New | J.M. Smucker Company | $1,706,000 | – | 16,122 | – | 0.13% | – |
| DLTR | New | Dollar Tree | $582,000 | – | 6,283 | – | 0.04% | – |
| NWS | New | News Corpcl b | $274,000 | – | 22,953 | – | 0.02% | – |
Q4 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| WU | Exit | Western Union Co | $0 | – | -107,644 | – | -0.09% | – |
| LOMA | Exit | Loma Negra Corpspon ads | $0 | – | -2,119,789 | – | -0.45% | – |
| FENG | Exit | Phoenix New Media Ltdspon ads | $0 | – | -4,993,454 | – | -0.47% | – |
| GOOGL | Exit | Alphabet Inccap stk cl a | $0 | – | -15,095 | – | -0.68% | – |
| UEPS | Exit | Net 1 UEPS Technologies | $0 | – | -7,417,863 | – | -0.98% | – |
| BIDU | Exit | Baidu Incspon adr rep a | $0 | – | -335,247 | – | -1.28% | – |
| CDK | Exit | CDK Global Inc. | $0 | – | -800,213 | – | -1.42% | – |
| SINA | Exit | Sina Corp | $0 | – | -1,083,610 | – | -1.57% | – |
| GOLD | Exit | Barrick Gold Corp | $0 | – | -2,512,506 | – | -1.61% | – |
| ARCO | Exit | Arcos Dorados Holdings Inc | $0 | – | -6,758,235 | – | -1.68% | – |
| QRTEA | Exit | Qurate Retail Inc | $0 | – | -5,254,310 | – | -2.01% | – |
| GOOG | Exit | Alphabet Inccap stk cl c | $0 | – | -47,761 | – | -2.16% | – |
| UTX | Exit | United Technologies Corp | $0 | – | -428,461 | – | -2.17% | – |
| ATRO | Exit | Astronics Corp | $0 | – | -2,063,561 | – | -2.24% | – |
| ORCL | Exit | Oracle Corp | $0 | – | -1,136,841 | – | -2.32% | – |
| CRTO | Exit | Criteo SAspon ads | $0 | – | -3,578,241 | – | -2.48% | – |
| NEM | Exit | Newmont Goldcorp Corp. | $0 | – | -2,209,267 | – | -3.10% | – |
| NWSA | Exit | News Corpcl a | $0 | – | -6,218,060 | – | -3.20% | – |
| BRKB | Exit | Berkshire Hathaway Inccl b | $0 | – | -569,146 | – | -4.38% | – |
| GS | Exit | Goldman Sachs | $0 | – | -623,463 | – | -4.78% | – |
| XEC | Exit | Cimarex Energy Co | $0 | – | -2,701,421 | – | -4.80% | – |
| MA | Exit | Mastercard Inccl a | $0 | – | -515,055 | – | -5.18% | – |
| LKQ | Exit | LKQ Corp | $0 | – | -5,099,067 | – | -5.94% | – |
| SLB | Exit | Schlumberger Ltd | $0 | – | -5,232,185 | – | -6.62% | – |
| AYI | Exit | Acuity Brands Inc | $0 | – | -1,415,743 | – | -7.07% | – |
| BAC | Exit | Bank of America Corp | $0 | – | -7,701,662 | – | -8.32% | – |
| BRKA | Exit | Berkshire Hathaway Inccl a | $0 | – | -986 | – | -11.39% | – |
| IAU | Exit | iShares Gold Trustishares | $0 | – | -22,209,292 | – | -11.60% | – |
Q3 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| IAU | Buy | iShares Gold Trustishares | $313,151,000 | +38.7% | 22,209,292 | +32.8% | 11.60% | +32.7% |
| BRKA | Sell | Berkshire Hathaway Inccl a | $307,466,000 | -9.1% | 986 | -7.2% | 11.39% | -13.0% |
| BAC | Sell | Bank of America Corp | $224,657,000 | -18.2% | 7,701,662 | -18.6% | 8.32% | -21.7% |
| AYI | Sell | Acuity Brands Inc | $190,828,000 | -7.8% | 1,415,743 | -5.7% | 7.07% | -11.7% |
| SLB | Sell | Schlumberger Ltd | $178,784,000 | -19.3% | 5,232,185 | -6.1% | 6.62% | -22.7% |
| LKQ | Buy | LKQ Corp | $160,366,000 | +97.6% | 5,099,067 | +67.2% | 5.94% | +89.1% |
| MA | Sell | Mastercard Inccl a | $139,873,000 | -6.9% | 515,055 | -9.3% | 5.18% | -10.9% |
| XEC | Sell | Cimarex Energy Co | $129,506,000 | -26.5% | 2,701,421 | -9.0% | 4.80% | -29.6% |
| GS | Sell | Goldman Sachs | $129,200,000 | -9.9% | 623,463 | -11.0% | 4.78% | -13.7% |
| BRKB | Buy | Berkshire Hathaway Inccl b | $118,394,000 | +24.1% | 569,146 | +27.2% | 4.38% | +18.8% |
| NWSA | Sell | News Corpcl a | $86,555,000 | -21.4% | 6,218,060 | -23.8% | 3.20% | -24.8% |
| NEM | New | Newmont Goldcorp Corp. | $83,775,000 | – | 2,209,267 | – | 3.10% | – |
| CRTO | Sell | Criteo SAspon ads | $66,877,000 | -0.7% | 3,578,241 | -8.6% | 2.48% | -5.0% |
| ORCL | Buy | Oracle Corp | $62,560,000 | +65.1% | 1,136,841 | +70.9% | 2.32% | +58.0% |
| ATRO | Buy | Astronics Corp | $60,627,000 | +1.5% | 2,063,561 | +38.9% | 2.24% | -2.9% |
| UTX | Sell | United Technologies Corp | $58,493,000 | -11.1% | 428,461 | -15.2% | 2.17% | -15.0% |
| GOOG | Sell | Alphabet Inccap stk cl c | $58,220,000 | +5.4% | 47,761 | -6.6% | 2.16% | +0.8% |
| QRTEA | Sell | Qurate Retail Inc | $54,198,000 | -22.7% | 5,254,310 | -7.2% | 2.01% | -26.0% |
| ARCO | Sell | Arcos Dorados Holdings Inc | $45,415,000 | -13.1% | 6,758,235 | -5.8% | 1.68% | -16.8% |
| GOLD | New | Barrick Gold Corp | $43,542,000 | – | 2,512,506 | – | 1.61% | – |
| SINA | Sell | Sina Corp | $42,467,000 | -11.7% | 1,083,610 | -2.8% | 1.57% | -15.4% |
| CDK | New | CDK Global Inc. | $38,482,000 | – | 800,213 | – | 1.42% | – |
| BIDU | Sell | Baidu Incspon adr rep a | $34,450,000 | -16.7% | 335,247 | -4.9% | 1.28% | -20.2% |
| UEPS | Sell | Net 1 UEPS Technologies | $26,482,000 | -15.3% | 7,417,863 | -5.1% | 0.98% | -18.9% |
| GOOGL | Sell | Alphabet Inccap stk cl a | $18,433,000 | +5.4% | 15,095 | -6.5% | 0.68% | +0.9% |
| FENG | Buy | Phoenix New Media Ltdspon ads | $12,783,000 | -11.6% | 4,993,454 | +12.3% | 0.47% | -15.4% |
| LOMA | New | Loma Negra Corpspon ads | $12,189,000 | – | 2,119,789 | – | 0.45% | – |
| WU | New | Western Union Co | $2,494,000 | – | 107,644 | – | 0.09% | – |
Q2 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKA | New | Berkshire Hathaway Inccl a | $338,406,000 | – | 1,063 | – | 13.09% | – |
| BAC | New | Bank of America Corp | $274,544,000 | – | 9,467,030 | – | 10.62% | – |
| IAU | New | iShares Gold Trustishares | $225,855,000 | – | 16,729,980 | – | 8.74% | – |
| SLB | New | Schlumberger Ltd | $221,421,000 | – | 5,571,751 | – | 8.57% | – |
| AYI | New | Acuity Brands Inc | $206,947,000 | – | 1,500,592 | – | 8.01% | – |
| XEC | New | Cimarex Energy Co | $176,087,000 | – | 2,967,917 | – | 6.81% | – |
| MA | New | Mastercard Inccl a | $150,214,000 | – | 567,851 | – | 5.81% | – |
| GS | New | Goldman Sachs | $143,339,000 | – | 700,580 | – | 5.55% | – |
| NWSA | New | News Corpcl a | $110,125,000 | – | 8,163,469 | – | 4.26% | – |
| BRKB | New | Berkshire Hathaway Inccl b | $95,382,000 | – | 447,448 | – | 3.69% | – |
| LKQ | New | LKQ Corp | $81,149,000 | – | 3,049,577 | – | 3.14% | – |
| QRTEA | New | Qurate Retail Inc | $70,118,000 | – | 5,659,240 | – | 2.71% | – |
| CRTO | New | Criteo SAspon ads | $67,373,000 | – | 3,914,748 | – | 2.61% | – |
| UTX | New | United Technologies Corp | $65,822,000 | – | 505,547 | – | 2.55% | – |
| ATRO | New | Astronics Corp | $59,758,000 | – | 1,485,768 | – | 2.31% | – |
| GOOG | New | Alphabet Inccap stk cl c | $55,246,000 | – | 51,111 | – | 2.14% | – |
| ARCO | New | Arcos Dorados Holdings Inc | $52,246,000 | – | 7,176,634 | – | 2.02% | – |
| SINA | New | Sina Corp | $48,078,000 | – | 1,114,712 | – | 1.86% | – |
| BIDU | New | Baidu Incspon adr rep a | $41,361,000 | – | 352,432 | – | 1.60% | – |
| ORCL | New | Oracle Corp | $37,887,000 | – | 665,034 | – | 1.47% | – |
| UEPS | New | Net 1 UEPS Technologies | $31,270,000 | – | 7,817,461 | – | 1.21% | – |
| GOOGL | New | Alphabet Inccap stk cl a | $17,488,000 | – | 16,151 | – | 0.68% | – |
| FENG | New | Phoenix New Media Ltdspon ads | $14,455,000 | – | 4,447,732 | – | 0.56% | – |
Q4 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FENG | Exit | Phoenix New Media Ltd.spon ads | $0 | – | -2,761,799 | – | -0.32% | – |
| ATGE | Exit | Adtalem Global Education | $0 | – | -268,234 | – | -0.35% | – |
| ATRO | Exit | ASTRONICS CORP | $0 | – | -400,436 | – | -0.48% | – |
| CCU | Exit | Compania Cervecerias Unidas SA ADRspon adr | $0 | – | -643,279 | – | -0.49% | – |
| GS | Exit | Goldman Sachs | $0 | – | -97,859 | – | -0.60% | – |
| GOOGL | Exit | Alphabet Inc. Class 'A'cap stk cl a | $0 | – | -20,906 | – | -0.69% | – |
| AXP | Exit | American Express Company | $0 | – | -324,692 | – | -0.95% | – |
| OMC | Exit | Omnicom Group Inc. | $0 | – | -518,185 | – | -0.97% | – |
| NWS | Exit | News Corp Class Bcl b | $0 | – | -3,202,366 | – | -1.19% | – |
| MMC | Exit | Marsh & McLennan Cos Inc. | $0 | – | -573,914 | – | -1.30% | – |
| TIF | Exit | Tiffany & Co. | $0 | – | -373,263 | – | -1.32% | – |
| CVS | Exit | CVS Health Corp | $0 | – | -751,716 | – | -1.62% | – |
| AON | Exit | Aon Plc | $0 | – | -408,959 | – | -1.72% | – |
| ARCO | Exit | Arcos Dorados Holdings Inc. - Class A | $0 | – | -10,277,910 | – | -1.76% | – |
| UEPS | Exit | Net 1 UEPS Technologies | $0 | – | -8,222,846 | – | -1.80% | – |
| DVA | Exit | DaVita Inc | $0 | – | -1,011,470 | – | -1.99% | – |
| GOOG | Exit | Alphabet Inc. Class 'C'cap stk cl c | $0 | – | -62,496 | – | -2.04% | – |
| EXPD | Exit | Expeditors Intl of Washington Inc. | $0 | – | -1,023,065 | – | -2.06% | – |
| CRTO | Exit | Criteo SA ADR (France)spon ads | $0 | – | -3,708,168 | – | -2.33% | – |
| DOX | Exit | Amdocs Ltdord | $0 | – | -1,307,932 | – | -2.37% | – |
| BIDU | Exit | Baidu Inc. ADRspon adr rep a | $0 | – | -380,131 | – | -2.38% | – |
| UTX | Exit | United Technologies Corp | $0 | – | -638,836 | – | -2.45% | – |
| QRTEA | Exit | Qurate Retail Inc. Series A | $0 | – | -4,078,087 | – | -2.48% | – |
| BRKB | Exit | Berkshire Hathaway Inc.-Cl Bcl b | $0 | – | -465,096 | – | -2.73% | – |
| BAC | Exit | Bank of America Corp | $0 | – | -5,230,651 | – | -4.22% | – |
| NWSA | Exit | News Corp - Class Acl a | $0 | – | -12,465,126 | – | -4.51% | – |
| SLB | Exit | Schlumberger Ltd. | $0 | – | -2,748,490 | – | -4.59% | – |
| IAU | Exit | Gold iShares Trust ETFishares | $0 | – | -19,000,659 | – | -5.95% | – |
| AYI | Exit | Acuity Brands Inc. | $0 | – | -1,527,393 | – | -6.58% | – |
| MA | Exit | Mastercard Inc. Class Acl a | $0 | – | -1,143,693 | – | -6.98% | – |
| XEC | Exit | Cimarex Energy Co | $0 | – | -3,061,838 | – | -7.80% | – |
| ORCL | Exit | Oracle Corp | $0 | – | -5,697,052 | – | -8.05% | – |
| BRKA | Exit | Berkshire Hathaway Inc.-Cl Acl a | $0 | – | -1,697 | – | -14.89% | – |
Q3 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKA | Sell | Berkshire Hathaway Inc.-Cl Acl a | $543,040,000 | +8.5% | 1,697 | -4.4% | 14.89% | +9.5% |
| ORCL | Sell | Oracle Corp | $293,740,000 | +6.9% | 5,697,052 | -8.6% | 8.05% | +7.9% |
| XEC | Buy | Cimarex Energy Co | $284,567,000 | +3.7% | 3,061,838 | +13.5% | 7.80% | +4.6% |
| MA | Sell | Mastercard Inc. Class Acl a | $254,597,000 | -1.5% | 1,143,693 | -13.0% | 6.98% | -0.6% |
| AYI | Sell | Acuity Brands Inc. | $240,106,000 | +0.1% | 1,527,393 | -26.3% | 6.58% | +1.0% |
| IAU | Sell | Gold iShares Trust ETFishares | $217,178,000 | -5.6% | 19,000,659 | -0.7% | 5.95% | -4.7% |
| SLB | Buy | Schlumberger Ltd. | $167,438,000 | +5.2% | 2,748,490 | +15.8% | 4.59% | +6.2% |
| NWSA | Sell | News Corp - Class Acl a | $164,415,000 | -17.0% | 12,465,126 | -2.4% | 4.51% | -16.2% |
| BAC | Sell | Bank of America Corp | $154,095,000 | +1.5% | 5,230,651 | -2.9% | 4.22% | +2.4% |
| BRKB | Sell | Berkshire Hathaway Inc.-Cl Bcl b | $99,582,000 | +11.9% | 465,096 | -2.4% | 2.73% | +12.9% |
| QRTEA | Sell | Qurate Retail Inc. Series A | $90,574,000 | +1.9% | 4,078,087 | -2.6% | 2.48% | +2.8% |
| UTX | Sell | United Technologies Corp | $89,316,000 | +8.8% | 638,836 | -2.7% | 2.45% | +9.8% |
| BIDU | Sell | Baidu Inc. ADRspon adr rep a | $86,928,000 | -8.1% | 380,131 | -2.3% | 2.38% | -7.2% |
| DOX | Sell | Amdocs Ltdord | $86,297,000 | -3.2% | 1,307,932 | -2.9% | 2.37% | -2.3% |
| CRTO | Sell | Criteo SA ADR (France)spon ads | $85,065,000 | -31.4% | 3,708,168 | -1.8% | 2.33% | -30.8% |
| EXPD | Sell | Expeditors Intl of Washington Inc. | $75,226,000 | -17.9% | 1,023,065 | -18.4% | 2.06% | -17.2% |
| GOOG | Sell | Alphabet Inc. Class 'C'cap stk cl c | $74,587,000 | +3.9% | 62,496 | -2.9% | 2.04% | +4.9% |
| DVA | Sell | DaVita Inc | $72,452,000 | +0.2% | 1,011,470 | -2.8% | 1.99% | +1.1% |
| UEPS | Sell | Net 1 UEPS Technologies | $65,783,000 | -12.4% | 8,222,846 | -0.6% | 1.80% | -11.6% |
| ARCO | New | Arcos Dorados Holdings Inc. - Class A | $64,237,000 | – | 10,277,910 | – | 1.76% | – |
| AON | Sell | Aon Plc | $62,890,000 | -13.5% | 408,959 | -22.8% | 1.72% | -12.7% |
| CVS | Sell | CVS Health Corp | $59,175,000 | +18.8% | 751,716 | -2.9% | 1.62% | +19.9% |
| TIF | Sell | Tiffany & Co. | $48,140,000 | -4.8% | 373,263 | -2.9% | 1.32% | -3.9% |
| MMC | Sell | Marsh & McLennan Cos Inc. | $47,474,000 | -16.1% | 573,914 | -16.8% | 1.30% | -15.3% |
| NWS | Sell | News Corp Class Bcl b | $43,552,000 | -16.1% | 3,202,366 | -2.2% | 1.19% | -15.3% |
| OMC | Sell | Omnicom Group Inc. | $35,247,000 | -13.4% | 518,185 | -2.9% | 0.97% | -12.6% |
| AXP | Sell | American Express Company | $34,576,000 | +5.5% | 324,692 | -2.9% | 0.95% | +6.5% |
| GOOGL | Sell | Alphabet Inc. Class 'A'cap stk cl a | $25,235,000 | +3.9% | 20,906 | -2.8% | 0.69% | +4.8% |
| GS | Sell | Goldman Sachs | $21,944,000 | -1.2% | 97,859 | -2.8% | 0.60% | -0.2% |
| CCU | Sell | Compania Cervecerias Unidas SA ADRspon adr | $17,947,000 | +10.2% | 643,279 | -1.5% | 0.49% | +11.1% |
| ATRO | Sell | ASTRONICS CORP | $17,419,000 | +18.8% | 400,436 | -1.8% | 0.48% | +20.1% |
| ATGE | Sell | Adtalem Global Education | $12,929,000 | -34.5% | 268,234 | -34.6% | 0.35% | -34.0% |
| FENG | Sell | Phoenix New Media Ltd.spon ads | $11,655,000 | -2.2% | 2,761,799 | -1.5% | 0.32% | -1.2% |
| TDC | Exit | Teradata Corp | $0 | – | -566,354 | – | -0.62% | – |
| FLS | Exit | Flowserve Corp. | $0 | – | -707,134 | – | -0.78% | – |
Q2 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKA | New | Berkshire Hathaway Inc.-Cl Acl a | $500,621,000 | – | 1,775 | – | 13.60% | – |
| ORCL | New | Oracle Corp | $274,718,000 | – | 6,235,082 | – | 7.46% | – |
| XEC | New | Cimarex Energy Co | $274,491,000 | – | 2,697,961 | – | 7.46% | – |
| MA | New | Mastercard Inc. Class Acl a | $258,429,000 | – | 1,315,026 | – | 7.02% | – |
| AYI | New | Acuity Brands Inc. | $239,980,000 | – | 2,071,111 | – | 6.52% | – |
| IAU | New | Gold iShares Trust ETFishares | $229,964,000 | – | 19,131,759 | – | 6.25% | – |
| NWSA | New | News Corp - Class Acl a | $197,976,000 | – | 12,772,653 | – | 5.38% | – |
| SLB | New | Schlumberger Ltd. | $159,091,000 | – | 2,373,435 | – | 4.32% | – |
| BAC | New | Bank of America Corp | $151,806,000 | – | 5,385,108 | – | 4.12% | – |
| CRTO | New | Criteo SA ADR (France)spon ads | $123,998,000 | – | 3,774,667 | – | 3.37% | – |
| BIDU | New | Baidu Inc. ADRspon adr rep a | $94,578,000 | – | 389,210 | – | 2.57% | – |
| EXPD | New | Expeditors Intl of Washington Inc. | $91,606,000 | – | 1,253,166 | – | 2.49% | – |
| DOX | New | Amdocs Ltdord | $89,127,000 | – | 1,346,528 | – | 2.42% | – |
| BRKB | New | Berkshire Hathaway Inc.-Cl Bcl b | $88,987,000 | – | 476,761 | – | 2.42% | – |
| QRTEA | New | Qurate Retail Inc. Series A | $88,886,000 | – | 4,188,763 | – | 2.42% | – |
| UTX | New | United Technologies Corp | $82,117,000 | – | 656,778 | – | 2.23% | – |
| UEPS | New | Net 1 UEPS Technologies | $75,096,000 | – | 8,270,535 | – | 2.04% | – |
| AON | New | Aon Plc | $72,705,000 | – | 530,035 | – | 1.98% | – |
| DVA | New | DaVita Inc | $72,292,000 | – | 1,041,073 | – | 1.96% | – |
| GOOG | New | Alphabet Inc. Class 'C'cap stk cl c | $71,782,000 | – | 64,341 | – | 1.95% | – |
| MMC | New | Marsh & McLennan Cos Inc. | $56,571,000 | – | 690,145 | – | 1.54% | – |
| NWS | New | News Corp Class Bcl b | $51,909,000 | – | 3,275,046 | – | 1.41% | – |
| TIF | New | Tiffany & Co. | $50,572,000 | – | 384,287 | – | 1.37% | – |
| CVS | New | CVS Health Corp | $49,801,000 | – | 773,908 | – | 1.35% | – |
| OMC | New | Omnicom Group Inc. | $40,690,000 | – | 533,497 | – | 1.10% | – |
| AXP | New | American Express Company | $32,761,000 | – | 334,300 | – | 0.89% | – |
| FLS | New | Flowserve Corp. | $28,568,000 | – | 707,134 | – | 0.78% | – |
| GOOGL | New | Alphabet Inc. Class 'A'cap stk cl a | $24,284,000 | – | 21,506 | – | 0.66% | – |
| TDC | New | Teradata Corp | $22,739,000 | – | 566,354 | – | 0.62% | – |
| GS | New | Goldman Sachs | $22,213,000 | – | 100,709 | – | 0.60% | – |
| ATGE | New | Adtalem Global Education | $19,741,000 | – | 410,411 | – | 0.54% | – |
| CCU | New | Compania Cervecerias Unidas SA ADRspon adr | $16,292,000 | – | 653,260 | – | 0.44% | – |
| ATRO | New | ASTRONICS CORP | $14,667,000 | – | 407,769 | – | 0.40% | – |
| FENG | New | Phoenix New Media Ltd.spon ads | $11,920,000 | – | 2,804,613 | – | 0.32% | – |
Q4 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ATRO | Exit | ASTRONICS CORP | $0 | – | -407,829 | – | -0.36% | – |
| CCU | Exit | Compania Cervecerias Unidas SA ADRspon adr | $0 | – | -659,352 | – | -0.53% | – |
| GOOGL | Exit | Alphabet Inc. Class 'A'cap stk cl a | $0 | – | -23,084 | – | -0.68% | – |
| FENG | Exit | Phoenix New Media Ltd.spon ads | $0 | – | -4,080,252 | – | -0.72% | – |
| GS | Exit | Goldman Sachs | $0 | – | -108,097 | – | -0.77% | – |
| FLS | Exit | Flowserve Corp. | $0 | – | -758,973 | – | -0.97% | – |
| RL | Exit | Ralph Lauren Corp.cl a | $0 | – | -453,895 | – | -1.20% | – |
| NWS | Exit | News Corp Class Bcl b | $0 | – | -3,418,537 | – | -1.40% | – |
| ATGE | Exit | Adtalem Global Education | $0 | – | -1,382,710 | – | -1.49% | – |
| EMR | Exit | Emerson Elec Co | $0 | – | -902,968 | – | -1.71% | – |
| MMC | Exit | Marsh & McLennan Cos Inc. | $0 | – | -740,338 | – | -1.86% | – |
| TIF | Exit | Tiffany & Co. | $0 | – | -701,715 | – | -1.94% | – |
| UEPS | Exit | Net 1 UEPS Technologies | $0 | – | -7,111,400 | – | -2.08% | – |
| GOOG | Exit | Alphabet Inc. Class 'C'cap stk cl c | $0 | – | -73,025 | – | -2.11% | – |
| UTX | Exit | United Technologies Corp | $0 | – | -701,995 | – | -2.45% | – |
| AON | Exit | Aon Plc | $0 | – | -568,509 | – | -2.50% | – |
| TDC | Exit | Teradata Corp | $0 | – | -2,562,543 | – | -2.60% | – |
| BRKB | Exit | Berkshire Hathaway Inc.-Cl Bcl b | $0 | – | -509,859 | – | -2.81% | – |
| QRTEA | Exit | Liberty Interactive Corp | $0 | – | -4,121,556 | – | -2.92% | – |
| DOX | Exit | Amdocs Ltdord | $0 | – | -1,514,524 | – | -2.93% | – |
| EXPD | Exit | Expeditors Intl of Washington Inc. | $0 | – | -1,656,803 | – | -2.98% | – |
| BIDU | Exit | Baidu Inc. ADRspon adr rep a | $0 | – | -407,854 | – | -3.04% | – |
| AXP | Exit | American Express Company | $0 | – | -1,176,636 | – | -3.20% | – |
| XEC | Exit | Cimarex Energy Co | $0 | – | -1,108,505 | – | -3.79% | – |
| BAC | Exit | Bank of America Corp | $0 | – | -6,831,753 | – | -5.20% | – |
| NWSA | Exit | News Corp - Class Acl a | $0 | – | -13,450,598 | – | -5.36% | – |
| CVS | Exit | CVS Caremark Corp | $0 | – | -2,203,051 | – | -5.39% | – |
| MA | Exit | Mastercard Inc. Class Acl a | $0 | – | -1,596,987 | – | -6.78% | – |
| IAU | Exit | Gold iShares Trust ETFishares | $0 | – | -19,162,904 | – | -7.09% | – |
| ORCL | Exit | Oracle Corp | $0 | – | -5,129,268 | – | -7.46% | – |
| BRKA | Exit | Berkshire Hathaway Inc.-Cl Acl a | $0 | – | -1,898 | – | -15.68% | – |
Q3 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKA | Sell | Berkshire Hathaway Inc.-Cl Acl a | $521,457,000 | +5.5% | 1,898 | -2.2% | 15.68% | +2.6% |
| ORCL | Sell | Oracle Corp | $248,000,000 | -6.6% | 5,129,268 | -3.1% | 7.46% | -9.1% |
| IAU | Sell | Gold iShares Trust ETFishares | $235,895,000 | +2.3% | 19,162,904 | -0.8% | 7.09% | -0.5% |
| MA | Sell | Mastercard Inc. Class Acl a | $225,495,000 | +12.6% | 1,596,987 | -3.2% | 6.78% | +9.6% |
| CVS | Sell | CVS Caremark Corp | $179,152,000 | -2.1% | 2,203,051 | -3.1% | 5.39% | -4.7% |
| NWSA | Sell | News Corp - Class Acl a | $178,355,000 | -5.7% | 13,450,598 | -2.6% | 5.36% | -8.3% |
| BAC | Sell | Bank of America Corp | $173,117,000 | +1.4% | 6,831,753 | -2.9% | 5.20% | -1.3% |
| XEC | Buy | Cimarex Energy Co | $126,004,000 | +21.0% | 1,108,505 | +0.1% | 3.79% | +17.8% |
| AXP | Sell | American Express Company | $106,438,000 | +4.0% | 1,176,636 | -3.2% | 3.20% | +1.2% |
| BIDU | Sell | Baidu Inc. ADRspon adr rep a | $101,021,000 | +37.9% | 407,854 | -0.5% | 3.04% | +34.1% |
| EXPD | Sell | Expeditors Intl of Washington Inc. | $99,176,000 | +5.2% | 1,656,803 | -0.7% | 2.98% | +2.3% |
| DOX | Sell | Amdocs Ltdord | $97,414,000 | -1.0% | 1,514,524 | -0.8% | 2.93% | -3.7% |
| QRTEA | Sell | Liberty Interactive Corp | $97,145,000 | -4.7% | 4,121,556 | -0.7% | 2.92% | -7.2% |
| BRKB | Sell | Berkshire Hathaway Inc.-Cl Bcl b | $93,467,000 | +7.7% | 509,859 | -0.5% | 2.81% | +4.8% |
| TDC | Sell | Teradata Corp | $86,588,000 | +13.7% | 2,562,543 | -0.7% | 2.60% | +10.7% |
| AON | Sell | Aon Plc | $83,059,000 | +9.1% | 568,509 | -0.7% | 2.50% | +6.1% |
| UTX | Sell | United Technologies Corp | $81,488,000 | -5.7% | 701,995 | -0.8% | 2.45% | -8.2% |
| GOOG | Sell | Alphabet Inc. Class 'C'cap stk cl c | $70,039,000 | +4.7% | 73,025 | -0.8% | 2.11% | +1.9% |
| UEPS | Buy | Net 1 UEPS Technologies | $69,265,000 | -1.0% | 7,111,400 | +0.2% | 2.08% | -3.7% |
| TIF | Sell | Tiffany & Co. | $64,403,000 | -2.9% | 701,715 | -0.7% | 1.94% | -5.6% |
| MMC | Sell | Marsh & McLennan Cos Inc. | $62,048,000 | +6.7% | 740,338 | -0.7% | 1.86% | +3.8% |
| EMR | Sell | Emerson Elec Co | $56,743,000 | +4.6% | 902,968 | -0.7% | 1.71% | +1.8% |
| NWS | Sell | News Corp Class Bcl b | $46,663,000 | -5.6% | 3,418,537 | -2.2% | 1.40% | -8.2% |
| RL | Sell | Ralph Lauren Corp.cl a | $40,074,000 | -46.3% | 453,895 | -55.1% | 1.20% | -47.8% |
| FLS | Sell | Flowserve Corp. | $32,325,000 | -8.9% | 758,973 | -0.7% | 0.97% | -11.4% |
| GS | Sell | Goldman Sachs | $25,640,000 | +6.1% | 108,097 | -0.7% | 0.77% | +3.2% |
| GOOGL | Sell | Alphabet Inc. Class 'A'cap stk cl a | $22,477,000 | +4.0% | 23,084 | -0.7% | 0.68% | +1.2% |
| ATRO | New | ASTRONICS CORP | $12,133,000 | – | 407,829 | – | 0.36% | – |
| NTL | Exit | Nortel Inversora - ADRspon adr rep pfd b | $0 | – | -50,898 | – | -0.05% | – |
Q2 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKA | New | Berkshire Hathaway Inc.-Cl Acl a | $494,373,000 | – | 1,941 | – | 15.27% | – |
| ORCL | New | Oracle Corp | $265,545,000 | – | 5,296,080 | – | 8.20% | – |
| IAU | New | Gold iShares Trust ETFishares | $230,677,000 | – | 19,319,686 | – | 7.13% | – |
| MA | New | Mastercard Inc. Class Acl a | $200,278,000 | – | 1,649,057 | – | 6.19% | – |
| NWSA | New | News Corp - Class Acl a | $189,226,000 | – | 13,812,118 | – | 5.85% | – |
| CVS | New | CVS Caremark Corp | $182,981,000 | – | 2,274,189 | – | 5.65% | – |
| BAC | New | Bank of America Corp | $170,740,000 | – | 7,037,913 | – | 5.28% | – |
| XEC | New | Cimarex Energy Co | $104,098,000 | – | 1,107,311 | – | 3.22% | – |
| AXP | New | American Express Company | $102,344,000 | – | 1,214,914 | – | 3.16% | – |
| QRTEA | New | Liberty Interactive Corp | $101,889,000 | – | 4,151,965 | – | 3.15% | – |
| DOX | New | Amdocs Ltdord | $98,371,000 | – | 1,526,073 | – | 3.04% | – |
| EXPD | New | Expeditors Intl of Washington Inc. | $94,271,000 | – | 1,669,099 | – | 2.91% | – |
| BRKB | New | Berkshire Hathaway Inc.-Cl Bcl b | $86,786,000 | – | 512,403 | – | 2.68% | – |
| UTX | New | United Technologies Corp | $86,380,000 | – | 707,395 | – | 2.67% | – |
| AON | New | Aon Plc | $76,147,000 | – | 572,751 | – | 2.35% | – |
| TDC | New | Teradata Corp | $76,133,000 | – | 2,581,664 | – | 2.35% | – |
| RL | New | Ralph Lauren Corp.cl a | $74,680,000 | – | 1,011,919 | – | 2.31% | – |
| BIDU | New | Baidu Inc. ADRspon adr rep a | $73,283,000 | – | 409,725 | – | 2.26% | – |
| UEPS | New | Net 1 UEPS Technologies | $69,969,000 | – | 7,096,292 | – | 2.16% | – |
| GOOG | New | Alphabet Inc. Class 'C'cap stk cl c | $66,870,000 | – | 73,587 | – | 2.07% | – |
| TIF | New | Tiffany & Co. | $66,358,000 | – | 706,919 | – | 2.05% | – |
| MMC | New | Marsh & McLennan Cos Inc. | $58,147,000 | – | 745,861 | – | 1.80% | – |
| EMR | New | Emerson Elec Co | $54,235,000 | – | 909,684 | – | 1.68% | – |
| ATGE | New | Adtalem Global Education | $52,474,000 | – | 1,382,710 | – | 1.62% | – |
| NWS | New | News Corp Class Bcl b | $49,446,000 | – | 3,494,410 | – | 1.53% | – |
| FLS | New | Flowserve Corp. | $35,502,000 | – | 764,630 | – | 1.10% | – |
| GS | New | Goldman Sachs | $24,166,000 | – | 108,903 | – | 0.75% | – |
| GOOGL | New | Alphabet Inc. Class 'A'cap stk cl a | $21,622,000 | – | 23,258 | – | 0.67% | – |
| CCU | New | Compania Cervecerias Unidas SA ADRspon adr | $17,301,000 | – | 659,352 | – | 0.54% | – |
| FENG | New | Phoenix New Media Ltd.spon ads | $10,731,000 | – | 4,080,252 | – | 0.33% | – |
| NTL | New | Nortel Inversora - ADRspon adr rep pfd b | $1,590,000 | – | 50,898 | – | 0.05% | – |
Q4 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| NTL | Exit | Nortel Inversora - ADRspon adr rep pfd b | $0 | – | -52,921 | – | -0.04% | – |
| HPQ | Exit | HP Inc. | $0 | – | -960,452 | – | -0.44% | – |
| HPE | Exit | Hewlett Packard Enterpise Co. | $0 | – | -695,829 | – | -0.47% | – |
| FENG | Exit | Phoenix New Media Ltd.spon ads | $0 | – | -4,156,090 | – | -0.48% | – |
| GOOGL | Exit | Alphabet Inc. Class 'A'cap stk cl a | $0 | – | -24,382 | – | -0.58% | – |
| RJF | Exit | Raymond James Financial Inc. | $0 | – | -339,244 | – | -0.58% | – |
| AGNC | Exit | American Capital Agency Corp | $0 | – | -1,655,600 | – | -0.96% | – |
| XEC | Exit | Cimarex Energy Co | $0 | – | -253,531 | – | -1.01% | – |
| QRTEA | Exit | Liberty Interactive Corp QVC Group Com Series 'A' | $0 | – | -1,824,307 | – | -1.08% | – |
| FLS | Exit | Flowserve Corp. | $0 | – | -1,123,642 | – | -1.60% | – |
| MMC | Exit | Marsh & McLennan Cos Inc. | $0 | – | -811,524 | – | -1.61% | – |
| GOOG | Exit | Alphabet Inc. Class 'C'cap stk cl c | $0 | – | -77,140 | – | -1.77% | – |
| BIDU | Exit | Baidu Inc. ADRspon adr rep a | $0 | – | -330,108 | – | -1.78% | – |
| UEPS | Exit | Net 1 UEPS Technologies | $0 | – | -7,302,993 | – | -1.85% | – |
| EMR | Exit | Emerson Elec Co | $0 | – | -1,200,416 | – | -1.93% | – |
| AON | Exit | Aon Plc | $0 | – | -623,375 | – | -2.07% | – |
| BRKB | Exit | Berkshire Hathaway Inc.-Cl Bcl b | $0 | – | -510,440 | – | -2.18% | – |
| UTX | Exit | United Technologies Corp | $0 | – | -763,935 | – | -2.29% | – |
| TIF | Exit | Tiffany & Co. | $0 | – | -1,134,874 | – | -2.44% | – |
| AXP | Exit | American Express Company | $0 | – | -1,309,008 | – | -2.48% | – |
| DOX | Exit | Amdocs Ltdord | $0 | – | -1,599,905 | – | -2.74% | – |
| TDC | Exit | Teradata Corp | $0 | – | -3,036,976 | – | -2.78% | – |
| GS | Exit | Goldman Sachs | $0 | – | -624,191 | – | -2.98% | – |
| CVS | Exit | CVS Caremark Corp | $0 | – | -1,153,314 | – | -3.03% | – |
| NWS | Exit | News Corp Class Bcl b | $0 | – | -8,635,507 | – | -3.63% | – |
| EXPD | Exit | Expeditors Intl of Washington Inc. | $0 | – | -2,474,314 | – | -3.77% | – |
| BAC | Exit | Bank of America Corp | $0 | – | -9,844,827 | – | -4.55% | – |
| MA | Exit | Mastercard Inc. Class Acl a | $0 | – | -1,775,446 | – | -5.34% | – |
| ORCL | Exit | Oracle Corp | $0 | – | -5,699,897 | – | -6.62% | – |
| DV | Exit | DeVry Inc. | $0 | – | -10,806,146 | – | -7.36% | – |
| IAU | Exit | Gold iShares Trust ETFishares | $0 | – | -21,306,778 | – | -7.99% | – |
| NWSA | Exit | News Corp - Class Acl a | $0 | – | -19,530,243 | – | -8.07% | – |
| BRKA | Exit | Berkshire Hathaway Inc.-Cl Acl a | $0 | – | -2,115 | – | -13.51% | – |
Q3 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKA | Sell | Berkshire Hathaway Inc.-Cl Acl a | $457,305,000 | -5.7% | 2,115 | -5.3% | 13.51% | -5.9% |
| NWSA | Sell | News Corp - Class Acl a | $273,033,000 | +19.1% | 19,530,243 | -3.3% | 8.07% | +18.7% |
| IAU | Buy | Gold iShares Trust ETFishares | $270,383,000 | +7.6% | 21,306,778 | +8.2% | 7.99% | +7.3% |
| DV | Sell | DeVry Inc. | $249,190,000 | +14.3% | 10,806,146 | -11.6% | 7.36% | +14.0% |
| ORCL | Sell | Oracle Corp | $223,892,000 | -18.2% | 5,699,897 | -14.8% | 6.62% | -18.4% |
| MA | Sell | Mastercard Inc. Class Acl a | $180,687,000 | +9.4% | 1,775,446 | -5.3% | 5.34% | +9.1% |
| BAC | Buy | Bank of America Corp | $154,072,000 | +28.1% | 9,844,827 | +8.6% | 4.55% | +27.7% |
| EXPD | Sell | Expeditors Intl of Washington Inc. | $127,477,000 | -16.2% | 2,474,314 | -20.2% | 3.77% | -16.4% |
| NWS | Sell | News Corp Class Bcl b | $122,797,000 | -25.3% | 8,635,507 | -38.7% | 3.63% | -25.5% |
| CVS | Sell | CVS Caremark Corp | $102,633,000 | -11.9% | 1,153,314 | -5.3% | 3.03% | -12.2% |
| GS | Sell | Goldman Sachs | $100,663,000 | +4.0% | 624,191 | -4.1% | 2.98% | +3.8% |
| TDC | Sell | Teradata Corp | $94,146,000 | -15.5% | 3,036,976 | -31.7% | 2.78% | -15.8% |
| DOX | Sell | Amdocs Ltdord | $92,555,000 | -5.0% | 1,599,905 | -5.2% | 2.74% | -5.3% |
| AXP | Sell | American Express Company | $83,829,000 | +0.8% | 1,309,008 | -4.3% | 2.48% | +0.5% |
| TIF | Buy | Tiffany & Co. | $82,426,000 | +21.3% | 1,134,874 | +1.2% | 2.44% | +20.9% |
| UTX | Sell | United Technologies Corp | $77,616,000 | -5.7% | 763,935 | -4.8% | 2.29% | -5.9% |
| BRKB | Sell | Berkshire Hathaway Inc.-Cl Bcl b | $73,743,000 | -7.3% | 510,440 | -7.0% | 2.18% | -7.6% |
| AON | Sell | Aon Plc | $70,123,000 | +0.8% | 623,375 | -2.1% | 2.07% | +0.5% |
| EMR | Sell | Emerson Elec Co | $65,435,000 | -1.3% | 1,200,416 | -5.5% | 1.93% | -1.5% |
| UEPS | Sell | Net 1 UEPS Technologies | $62,514,000 | -15.8% | 7,302,993 | -1.8% | 1.85% | -16.1% |
| BIDU | New | Baidu Inc. ADRspon adr rep a | $60,103,000 | – | 330,108 | – | 1.78% | – |
| GOOG | Sell | Alphabet Inc. Class 'C'cap stk cl c | $59,960,000 | +7.4% | 77,140 | -4.4% | 1.77% | +7.1% |
| MMC | Sell | Marsh & McLennan Cos Inc. | $54,575,000 | -4.1% | 811,524 | -2.4% | 1.61% | -4.4% |
| FLS | Sell | Flowserve Corp. | $54,204,000 | +0.1% | 1,123,642 | -6.2% | 1.60% | -0.1% |
| QRTEA | Sell | Liberty Interactive Corp QVC Group Com Series 'A' | $36,504,000 | -22.8% | 1,824,307 | -2.2% | 1.08% | -23.0% |
| XEC | Sell | Cimarex Energy Co | $34,067,000 | -28.1% | 253,531 | -36.2% | 1.01% | -28.3% |
| AGNC | Sell | American Capital Agency Corp | $32,350,000 | -9.0% | 1,655,600 | -7.7% | 0.96% | -9.3% |
| RJF | Buy | Raymond James Financial Inc. | $19,747,000 | +65.9% | 339,244 | +40.5% | 0.58% | +65.4% |
| GOOGL | Sell | Alphabet Inc. Class 'A'cap stk cl a | $19,605,000 | +8.0% | 24,382 | -5.5% | 0.58% | +7.6% |
| HPE | New | Hewlett Packard Enterpise Co. | $15,830,000 | – | 695,829 | – | 0.47% | – |
| HPQ | Sell | HP Inc. | $14,916,000 | +17.8% | 960,452 | -4.8% | 0.44% | +17.6% |
| HPQ | Exit | Hewlett Packard Co. | $0 | – | -731,953 | – | -0.40% | – |
Q2 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKA | New | Berkshire Hathaway Inc.-Cl Acl a | $484,722,000 | – | 2,234 | – | 14.37% | – |
| ORCL | New | Oracle Corp | $273,690,000 | – | 6,686,789 | – | 8.11% | – |
| IAU | New | Gold iShares Trust ETFishares | $251,197,000 | – | 19,686,272 | – | 7.44% | – |
| NWSA | New | News Corp - Class Acl a | $229,278,000 | – | 20,200,723 | – | 6.80% | – |
| DV | New | DeVry Inc. | $218,034,000 | – | 12,221,652 | – | 6.46% | – |
| MA | New | Mastercard Inc. Class Acl a | $165,123,000 | – | 1,875,123 | – | 4.89% | – |
| NWS | New | News Corp Class Bcl b | $164,366,000 | – | 14,084,498 | – | 4.87% | – |
| EXPD | New | Expeditors Intl of Washington Inc. | $152,064,000 | – | 3,100,812 | – | 4.51% | – |
| BAC | New | Bank of America Corp | $120,283,000 | – | 9,064,262 | – | 3.56% | – |
| CVS | New | CVS Caremark Corp | $116,544,000 | – | 1,217,302 | – | 3.45% | – |
| TDC | New | Teradata Corp | $111,452,000 | – | 4,445,624 | – | 3.30% | – |
| DOX | New | Amdocs Ltdord | $97,402,000 | – | 1,687,489 | – | 2.89% | – |
| GS | New | Goldman Sachs | $96,746,000 | – | 651,137 | – | 2.87% | – |
| AXP | New | American Express Company | $83,148,000 | – | 1,368,461 | – | 2.46% | – |
| UTX | New | United Technologies Corp | $82,275,000 | – | 802,295 | – | 2.44% | – |
| BRKB | New | Berkshire Hathaway Inc.-Cl Bcl b | $79,512,000 | – | 549,155 | – | 2.36% | – |
| UEPS | New | Net 1 UEPS Technologies | $74,264,000 | – | 7,433,785 | – | 2.20% | – |
| AON | New | Aon Plc | $69,584,000 | – | 637,041 | – | 2.06% | – |
| TIF | New | Tiffany & Co. | $67,971,000 | – | 1,120,900 | – | 2.02% | – |
| EMR | New | Emerson Elec Co | $66,268,000 | – | 1,270,479 | – | 1.96% | – |
| MMC | New | Marsh & McLennan Cos Inc. | $56,906,000 | – | 831,225 | – | 1.69% | – |
| GOOG | New | Alphabet Inc. Class 'C'cap stk cl c | $55,834,000 | – | 80,673 | – | 1.66% | – |
| FLS | New | Flowserve Corp. | $54,127,000 | – | 1,198,288 | – | 1.60% | – |
| XEC | New | Cimarex Energy Co | $47,393,000 | – | 397,191 | – | 1.40% | – |
| QRTEA | New | Liberty Interactive Corp QVC Group Com Series 'A' | $47,305,000 | – | 1,864,621 | – | 1.40% | – |
| AGNC | New | American Capital Agency Corp | $35,550,000 | – | 1,793,656 | – | 1.05% | – |
| GOOGL | New | Alphabet Inc. Class 'A'cap stk cl a | $18,145,000 | – | 25,792 | – | 0.54% | – |
| FENG | New | Phoenix New Media Ltd.spon ads | $15,294,000 | – | 4,156,090 | – | 0.45% | – |
| HPQ | New | Hewlett Packard Co. | $13,373,000 | – | 731,953 | – | 0.40% | – |
| HPQ | New | HP Inc. | $12,660,000 | – | 1,008,745 | – | 0.38% | – |
| RJF | New | Raymond James Financial Inc. | $11,902,000 | – | 241,421 | – | 0.35% | – |
| NTL | New | Nortel Inversora - ADRspon adr rep pfd b | $1,499,000 | – | 52,921 | – | 0.04% | – |
Q4 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| NTL | Exit | Nortel Inversora - ADRspon adr rep pfd b | $0 | – | -61,837 | – | -0.02% | – |
| FENG | Exit | Phoenix New Media Ltd.spon ads | $0 | – | -3,472,340 | – | -0.40% | – |
| TTE | Exit | Total SA - Spon ADRspon adr | $0 | – | -351,727 | – | -0.41% | – |
| GOOGL | Exit | Google Inc. - Cl Acl a | $0 | – | -29,451 | – | -0.49% | – |
| AGNC | Exit | American Capital Agency Corp | $0 | – | -2,011,145 | – | -0.99% | – |
| SYMC | Exit | Symantec Corp | $0 | – | -2,009,261 | – | -1.02% | – |
| UTX | Exit | United Technologies Corp | $0 | – | -579,275 | – | -1.35% | – |
| FLS | Exit | Flowserve Corp. | $0 | – | -1,285,447 | – | -1.39% | – |
| GOOG | Exit | Google Inc. - Cl Ccl c | $0 | – | -90,499 | – | -1.44% | – |
| QRTEA | Exit | Liberty Interactive Corp | $0 | – | -2,165,062 | – | -1.49% | – |
| MMC | Exit | Marsh & McLennan Cos Inc. | $0 | – | -1,108,241 | – | -1.52% | – |
| GS | Exit | Goldman Sachs | $0 | – | -399,479 | – | -1.82% | – |
| MSFT | Exit | Microsoft | $0 | – | -1,686,279 | – | -1.96% | – |
| AON | Exit | Aon Plc | $0 | – | -845,058 | – | -1.96% | – |
| BRKB | Exit | Berkshire Hathaway Inc.-Cl Bcl b | $0 | – | -595,679 | – | -2.04% | – |
| HPQ | Exit | Hewlett Packard Co. | $0 | – | -3,189,791 | – | -2.14% | – |
| IM | Exit | Ingram Micro Inccl a | $0 | – | -3,460,858 | – | -2.47% | – |
| OXY | Exit | Occidental Petroleum Corp | $0 | – | -1,504,293 | – | -2.61% | – |
| DOX | Exit | Amdocs Ltdord | $0 | – | -1,865,268 | – | -2.78% | – |
| TDC | Exit | Teradata Corp | $0 | – | -3,937,162 | – | -2.99% | – |
| XEC | Exit | Cimarex Energy Co | $0 | – | -1,155,421 | – | -3.10% | – |
| EMR | Exit | Emerson Elec Co | $0 | – | -2,686,392 | – | -3.11% | – |
| CVS | Exit | CVS Caremark Corp | $0 | – | -1,344,651 | – | -3.40% | – |
| UEPS | Exit | Net 1 UEPS Technologies | $0 | – | -8,309,556 | – | -3.65% | – |
| MA | Exit | Mastercard Inc. Class Acl a | $0 | – | -2,052,072 | – | -4.85% | – |
| NWS | Exit | News Corp Class Bcl b | $0 | – | -14,727,930 | – | -4.95% | – |
| IAU | Exit | Gold iShares Trust ETFishares | $0 | – | -17,906,337 | – | -5.06% | – |
| EXPD | Exit | Expeditors Intl of Washington Inc. | $0 | – | -4,666,879 | – | -5.76% | – |
| ORCL | Exit | Oracle Corp | $0 | – | -7,118,841 | – | -6.74% | – |
| NWSA | Exit | News Corp - Class Acl a | $0 | – | -21,341,220 | – | -7.06% | – |
| DV | Exit | DeVry Inc. | $0 | – | -13,245,964 | – | -9.45% | – |
| BRKA | Exit | Berkshire Hathaway Inc.-Cl Acl a | $0 | – | -2,257 | – | -11.56% | – |
Q3 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKA | Buy | Berkshire Hathaway Inc.-Cl Acl a | $440,657,000 | -0.7% | 2,257 | +4.2% | 11.56% | +0.7% |
| DV | Buy | DeVry Inc. | $360,423,000 | -1.0% | 13,245,964 | +9.1% | 9.45% | +0.5% |
| NWSA | Buy | News Corp - Class Acl a | $269,326,000 | -2.9% | 21,341,220 | +12.3% | 7.06% | -1.5% |
| ORCL | Buy | Oracle Corp | $257,133,000 | -8.6% | 7,118,841 | +2.0% | 6.74% | -7.3% |
| EXPD | Sell | Expeditors Intl of Washington Inc. | $219,577,000 | -4.5% | 4,666,879 | -6.4% | 5.76% | -3.1% |
| IAU | Buy | Gold iShares Trust ETFishares | $193,030,000 | -2.2% | 17,906,337 | +2.9% | 5.06% | -0.8% |
| NWS | Buy | News Corp Class Bcl b | $188,665,000 | -2.2% | 14,727,930 | +8.8% | 4.95% | -0.8% |
| MA | Sell | Mastercard Inc. Class Acl a | $184,933,000 | -8.8% | 2,052,072 | -5.4% | 4.85% | -7.4% |
| UEPS | Sell | Net 1 UEPS Technologies | $139,102,000 | -40.2% | 8,309,556 | -34.7% | 3.65% | -39.3% |
| CVS | Sell | CVS Caremark Corp | $129,732,000 | -13.6% | 1,344,651 | -6.0% | 3.40% | -12.3% |
| EMR | New | Emerson Elec Co | $118,658,000 | – | 2,686,392 | – | 3.11% | – |
| XEC | Sell | Cimarex Energy Co | $118,408,000 | -10.7% | 1,155,421 | -3.9% | 3.10% | -9.4% |
| TDC | Buy | Teradata Corp | $114,020,000 | -5.2% | 3,937,162 | +21.1% | 2.99% | -3.9% |
| DOX | Sell | Amdocs Ltdord | $106,096,000 | -1.9% | 1,865,268 | -5.8% | 2.78% | -0.5% |
| OXY | Buy | Occidental Petroleum Corp | $99,509,000 | -14.7% | 1,504,293 | +0.3% | 2.61% | -13.5% |
| IM | Sell | Ingram Micro Inccl a | $94,274,000 | +2.7% | 3,460,858 | -5.7% | 2.47% | +4.1% |
| HPQ | Buy | Hewlett Packard Co. | $81,691,000 | +14.2% | 3,189,791 | +33.9% | 2.14% | +15.8% |
| BRKB | Buy | Berkshire Hathaway Inc.-Cl Bcl b | $77,677,000 | +2.7% | 595,679 | +7.2% | 2.04% | +4.2% |
| AON | Sell | Aon Plc | $74,881,000 | -17.5% | 845,058 | -7.2% | 1.96% | -16.3% |
| MSFT | Sell | Microsoft | $74,635,000 | +0.1% | 1,686,279 | -0.1% | 1.96% | +1.6% |
| GS | Sell | Goldman Sachs | $69,413,000 | -22.3% | 399,479 | -6.7% | 1.82% | -21.2% |
| MMC | Sell | Marsh & McLennan Cos Inc. | $57,872,000 | -8.0% | 1,108,241 | -0.1% | 1.52% | -6.7% |
| QRTEA | Sell | Liberty Interactive Corp | $56,790,000 | -5.6% | 2,165,062 | -0.1% | 1.49% | -4.2% |
| GOOG | Sell | Google Inc. - Cl Ccl c | $55,061,000 | +16.7% | 90,499 | -0.1% | 1.44% | +18.5% |
| FLS | New | Flowserve Corp. | $52,883,000 | – | 1,285,447 | – | 1.39% | – |
| UTX | New | United Technologies Corp | $51,550,000 | – | 579,275 | – | 1.35% | – |
| SYMC | Buy | Symantec Corp | $39,100,000 | -15.5% | 2,009,261 | +1.0% | 1.02% | -14.3% |
| AGNC | Buy | American Capital Agency Corp | $37,608,000 | +1.9% | 2,011,145 | +0.1% | 0.99% | +3.4% |
| GOOGL | Sell | Google Inc. - Cl Acl a | $18,801,000 | +18.1% | 29,451 | -0.1% | 0.49% | +19.7% |
| TTE | Sell | Total SA - Spon ADRspon adr | $15,726,000 | -28.6% | 351,727 | -21.5% | 0.41% | -27.6% |
| FENG | Buy | Phoenix New Media Ltd.spon ads | $15,209,000 | -25.2% | 3,472,340 | +35.3% | 0.40% | -24.1% |
| NTL | Sell | Nortel Inversora - ADRspon adr rep pfd b | $937,000 | -18.7% | 61,837 | -2.2% | 0.02% | -16.7% |
| LVNTA | Exit | LIBERTY INTERACTIVE CORP | $0 | – | -308,122 | – | -0.31% | – |
Q2 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKA | New | Berkshire Hathaway Inc.-Cl Acl a | $443,910,000 | – | 2,167 | – | 11.48% | – |
| DV | New | DeVry Inc. | $363,965,000 | – | 12,140,266 | – | 9.41% | – |
| ORCL | New | Oracle Corp | $281,261,000 | – | 6,979,169 | – | 7.27% | – |
| NWSA | New | News Corp - Class Acl a | $277,253,000 | – | 19,002,923 | – | 7.17% | – |
| UEPS | New | Net 1 UEPS Technologies | $232,634,000 | – | 12,726,154 | – | 6.01% | – |
| EXPD | New | Expeditors Intl of Washington Inc. | $229,851,000 | – | 4,985,380 | – | 5.94% | – |
| MA | New | Mastercard Inc. Class Acl a | $202,682,000 | – | 2,168,184 | – | 5.24% | – |
| IAU | New | Gold iShares Trust ETFishares | $197,401,000 | – | 17,407,479 | – | 5.10% | – |
| NWS | New | News Corp Class Bcl b | $192,844,000 | – | 13,542,400 | – | 4.98% | – |
| CVS | New | CVS Caremark Corp | $150,068,000 | – | 1,430,851 | – | 3.88% | – |
| XEC | New | Cimarex Energy Co | $132,576,000 | – | 1,201,848 | – | 3.43% | – |
| TDC | New | Teradata Corp | $120,317,000 | – | 3,251,800 | – | 3.11% | – |
| OXY | New | Occidental Petroleum Corp | $116,692,000 | – | 1,500,481 | – | 3.02% | – |
| DOX | New | Amdocs Ltdord | $108,119,000 | – | 1,980,566 | – | 2.80% | – |
| IM | New | Ingram Micro Inccl a | $91,838,000 | – | 3,669,119 | – | 2.37% | – |
| AON | New | Aon Plc | $90,797,000 | – | 910,887 | – | 2.35% | – |
| GS | New | Goldman Sachs | $89,349,000 | – | 427,939 | – | 2.31% | – |
| BRKB | New | Berkshire Hathaway Inc.-Cl Bcl b | $75,615,000 | – | 555,543 | – | 1.96% | – |
| MSFT | New | Microsoft | $74,544,000 | – | 1,688,430 | – | 1.93% | – |
| HPQ | New | Hewlett Packard Co. | $71,505,000 | – | 2,382,709 | – | 1.85% | – |
| MMC | New | Marsh & McLennan Cos Inc. | $62,921,000 | – | 1,109,719 | – | 1.63% | – |
| QRTEA | New | Liberty Interactive Corp | $60,158,000 | – | 2,167,848 | – | 1.56% | – |
| GOOG | New | Google Inc. Class 'C'cl c | $47,167,000 | – | 90,618 | – | 1.22% | – |
| SYMC | New | Symantec Corp | $46,268,000 | – | 1,990,041 | – | 1.20% | – |
| AGNC | New | American Capital Agency Corp | $36,911,000 | – | 2,009,302 | – | 0.95% | – |
| TTE | New | Total SA - Spon ADRspon adr | $22,019,000 | – | 447,822 | – | 0.57% | – |
| FENG | New | Phoenix New Media Ltd.spon ads | $20,330,000 | – | 2,566,883 | – | 0.53% | – |
| GOOGL | New | Google Inc. Class 'A'cl a | $15,926,000 | – | 29,491 | – | 0.41% | – |
| LVNTA | New | LIBERTY INTERACTIVE CORP | $12,100,000 | – | 308,122 | – | 0.31% | – |
| NTL | New | Nortel Inversora - ADRspon adr rep pfd b | $1,153,000 | – | 63,197 | – | 0.03% | – |
Q4 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| NCMI | Exit | National Cinemedia Inc | $0 | – | -54,084 | – | -0.02% | – |
| NTL | Exit | Nortel Inversora - ADRspon adr rep pfd b | $0 | – | -66,914 | – | -0.03% | – |
| GOOG | Exit | Google Inc. Class 'C'cl c | $0 | – | -29,484 | – | -0.39% | – |
| GOOGL | Exit | Google Inc. Class 'A'cl a | $0 | – | -29,713 | – | -0.40% | – |
| CODE | Exit | Spansion Inc - Cl A | $0 | – | -1,068,456 | – | -0.55% | – |
| BCO | Exit | Brinks Co. | $0 | – | -1,268,505 | – | -0.69% | – |
| AGNC | Exit | American Capital Agency Corp | $0 | – | -2,024,608 | – | -0.97% | – |
| SYMC | Exit | Symantec Corp | $0 | – | -2,004,448 | – | -1.07% | – |
| ROSE | Exit | Rosetta Resources Inc. | $0 | – | -1,133,585 | – | -1.14% | – |
| LPI | Exit | Laredo Petroleum Inc. | $0 | – | -2,258,682 | – | -1.15% | – |
| MMC | Exit | Marsh & McLennan Cos Inc. | $0 | – | -1,117,791 | – | -1.32% | – |
| QRTEA | Exit | Liberty Interactive Corp | $0 | – | -2,183,182 | – | -1.41% | – |
| GHC | Exit | Graham Holdings Co | $0 | – | -110,199 | – | -1.75% | – |
| BRKB | Exit | Berkshire Hathaway Inc.-Cl Bcl b | $0 | – | -558,671 | – | -1.75% | – |
| HPQ | Exit | Hewlett Packard Co. | $0 | – | -2,180,065 | – | -1.75% | – |
| AON | Exit | Aon Plc | $0 | – | -917,437 | – | -1.82% | – |
| TTE | Exit | Total SA - Spon ADRspon adr | $0 | – | -1,304,130 | – | -1.90% | – |
| IM | Exit | Ingram Micro Inccl a | $0 | – | -3,466,711 | – | -2.03% | – |
| BHI | Exit | Baker Hughes Inc | $0 | – | -1,378,667 | – | -2.03% | – |
| DOX | Exit | Amdocs Ltdord | $0 | – | -1,994,773 | – | -2.07% | – |
| EGN | Exit | Energen Corp | $0 | – | -1,537,672 | – | -2.52% | – |
| CVS | Exit | CVS Caremark Corp | $0 | – | -1,446,195 | – | -2.61% | – |
| GS | Exit | Goldman Sachs | $0 | – | -631,188 | – | -2.62% | – |
| IAU | Exit | Gold iShares Trust ETFishares | $0 | – | -10,870,624 | – | -2.88% | – |
| XEC | Exit | Cimarex Energy Co | $0 | – | -1,022,172 | – | -2.93% | – |
| TDC | Exit | Teradata Corp | $0 | – | -3,280,053 | – | -3.11% | – |
| UEPS | Exit | Net 1 UEPS Technologies | $0 | – | -12,758,817 | – | -3.48% | – |
| MA | Exit | Mastercard Inc. Class Acl a | $0 | – | -2,188,014 | – | -3.66% | – |
| OXY | Exit | Occidental Petroleum Corp | $0 | – | -1,741,351 | – | -3.79% | – |
| MSFT | Exit | Microsoft | $0 | – | -3,679,781 | – | -3.86% | – |
| NWS | Exit | News Corp Class Bcl b | $0 | – | -11,896,401 | – | -4.35% | – |
| DVN | Exit | Devon Energy Corp | $0 | – | -3,213,682 | – | -4.96% | – |
| EXPD | Exit | Expeditors Intl of Washington Inc. | $0 | – | -6,236,660 | – | -5.73% | – |
| DV | Exit | DeVry Inc. | $0 | – | -6,041,135 | – | -5.86% | – |
| ORCL | Exit | Oracle Corp | $0 | – | -7,047,818 | – | -6.11% | – |
| NWSA | Exit | News Corp - Class Acl a | $0 | – | -19,046,355 | – | -7.05% | – |
| BRKA | Exit | Berkshire Hathaway Inc.-Cl Acl a | $0 | – | -2,183 | – | -10.23% | – |
Q3 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BRKA | New | Berkshire Hathaway Inc.-Cl Acl a | $451,663,000 | – | 2,183 | – | 10.23% | – |
| NWSA | Buy | News Corp - Class Acl a | $311,408,000 | +276.7% | 19,046,355 | +313.3% | 7.05% | +268.8% |
| ORCL | Buy | Oracle Corp | $269,790,000 | -4.5% | 7,047,818 | +1.1% | 6.11% | -6.5% |
| DV | Buy | DeVry Inc. | $258,621,000 | +12.6% | 6,041,135 | +11.3% | 5.86% | +10.2% |
| EXPD | Buy | Expeditors Intl of Washington Inc. | $253,084,000 | -2.5% | 6,236,660 | +6.1% | 5.73% | -4.5% |
| DVN | Sell | Devon Energy Corp | $219,109,000 | -29.5% | 3,213,682 | -17.9% | 4.96% | -31.0% |
| NWS | Buy | News Corp Class Bcl b | $191,889,000 | +427.2% | 11,896,401 | +470.4% | 4.35% | +416.2% |
| MSFT | Sell | Microsoft | $170,595,000 | -12.8% | 3,679,781 | -21.6% | 3.86% | -14.6% |
| OXY | Buy | Occidental Petroleum Corp | $167,431,000 | -5.3% | 1,741,351 | +1.1% | 3.79% | -7.2% |
| MA | Buy | Mastercard Inc. Class Acl a | $161,738,000 | +29.5% | 2,188,014 | +28.6% | 3.66% | +26.8% |
| UEPS | Buy | Net 1 UEPS Technologies | $153,744,000 | +6.0% | 12,758,817 | +0.1% | 3.48% | +3.8% |
| TDC | Buy | Teradata Corp | $137,500,000 | +5.4% | 3,280,053 | +1.1% | 3.11% | +3.2% |
| XEC | Sell | Cimarex Energy Co | $129,335,000 | -19.6% | 1,022,172 | -8.8% | 2.93% | -21.2% |
| IAU | Buy | Gold iShares Trust ETFishares | $127,186,000 | -7.9% | 10,870,624 | +1.4% | 2.88% | -9.8% |
| GS | Buy | Goldman Sachs | $115,867,000 | +12.1% | 631,188 | +2.2% | 2.62% | +9.8% |
| CVS | Buy | CVS Caremark Corp | $115,103,000 | +6.8% | 1,446,195 | +1.1% | 2.61% | +4.6% |
| EGN | Sell | Energen Corp | $111,081,000 | -25.5% | 1,537,672 | -8.4% | 2.52% | -27.1% |
| DOX | Buy | Amdocs Ltdord | $91,520,000 | +0.1% | 1,994,773 | +1.1% | 2.07% | -1.9% |
| BHI | New | Baker Hughes Inc | $89,696,000 | – | 1,378,667 | – | 2.03% | – |
| IM | Buy | Ingram Micro Inccl a | $89,476,000 | +23.9% | 3,466,711 | +61.7% | 2.03% | +21.3% |
| TTE | Sell | Total SA - Spon ADRspon adr | $84,051,000 | -45.2% | 1,304,130 | -38.6% | 1.90% | -46.3% |
| AON | Sell | Aon Plc | $80,432,000 | -23.5% | 917,437 | -21.4% | 1.82% | -25.1% |
| HPQ | Buy | Hewlett Packard Co. | $77,327,000 | -1.2% | 2,180,065 | +1900.0% | 1.75% | -3.3% |
| BRKB | New | Berkshire Hathaway Inc.-Cl Bcl b | $77,175,000 | – | 558,671 | – | 1.75% | – |
| GHC | Buy | Graham Holdings Co | $77,094,000 | +359.5% | 110,199 | +277.9% | 1.75% | +350.0% |
| QRTEA | Buy | Liberty Interactive Corp | $62,264,000 | -1.8% | 2,183,182 | +1.1% | 1.41% | -3.8% |
| MMC | Buy | Marsh & McLennan Cos Inc. | $58,505,000 | +2.1% | 1,117,791 | +1.1% | 1.32% | 0.0% |
| LPI | Buy | Laredo Petroleum Inc. | $50,617,000 | +99.3% | 2,258,682 | +175.5% | 1.15% | +95.2% |
| ROSE | Sell | Rosetta Resources Inc. | $50,513,000 | -23.2% | 1,133,585 | -5.5% | 1.14% | -24.8% |
| SYMC | Buy | Symantec Corp | $47,125,000 | +3.8% | 2,004,448 | +1.1% | 1.07% | +1.6% |
| AGNC | Buy | American Capital Agency Corp | $43,023,000 | -8.2% | 2,024,608 | +1.1% | 0.97% | -10.1% |
| BCO | Buy | Brinks Co. | $30,495,000 | +14.0% | 1,268,505 | +33.8% | 0.69% | +11.6% |
| CODE | Sell | Spansion Inc - Cl A | $24,350,000 | -57.0% | 1,068,456 | -60.2% | 0.55% | -57.9% |
| GOOGL | Buy | Google Inc. Class 'A'cl a | $17,483,000 | +1.7% | 29,713 | +1.1% | 0.40% | -0.3% |
| GOOG | New | Google Inc. Class 'C'cl c | $17,023,000 | – | 29,484 | – | 0.39% | – |
| NTL | Buy | Nortel Inversora - ADRspon adr rep pfd b | $1,485,000 | -12.9% | 66,914 | +0.1% | 0.03% | -12.8% |
| NCMI | Buy | National Cinemedia Inc | $785,000 | -16.2% | 54,084 | +1.1% | 0.02% | -18.2% |
| FOX | Exit | Twenty First Cent Fox (News Corp Cl B)cl b | $0 | – | -1,720,160 | – | -1.36% | – |
| Exit | Berkshire Hathaway Inc.-Cl Bcl b | $0 | – | -543,134 | – | -1.59% | – | |
| ITUB | Exit | Itau Unibanco S.A. ADRspon adr rep pfd | $0 | – | -3,710,893 | – | -2.51% | – |
| Exit | Baker Hughes Inc | $0 | – | -1,606,984 | – | -2.77% | – | |
| Exit | Berkshire Hathaway Inc.-Cl Acl a | $0 | – | -2,162 | – | -9.49% | – |
Q2 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| New | Berkshire Hathaway Inc.-Cl Acl a | $410,565,000 | – | 2,162 | – | 9.49% | – | |
| DVN | New | Devon Energy Corp | $310,940,000 | – | 3,916,123 | – | 7.19% | – |
| ORCL | New | Oracle Corp | $282,540,000 | – | 6,971,138 | – | 6.53% | – |
| EXPD | New | Expeditors Intl of Washington Inc. | $259,474,000 | – | 5,875,773 | – | 6.00% | – |
| DV | New | DeVry Inc. | $229,775,000 | – | 5,428,190 | – | 5.31% | – |
| MSFT | New | Microsoft | $195,730,000 | – | 4,693,767 | – | 4.53% | – |
| OXY | New | Occidental Petroleum Corp | $176,769,000 | – | 1,722,387 | – | 4.09% | – |
| XEC | New | Cimarex Energy Co | $160,824,000 | – | 1,121,040 | – | 3.72% | – |
| TTE | New | Total SA - Spon ADRspon adr | $153,352,000 | – | 2,123,985 | – | 3.55% | – |
| EGN | New | Energen Corp | $149,185,000 | – | 1,678,495 | – | 3.45% | – |
| UEPS | New | Net 1 UEPS Technologies | $145,021,000 | – | 12,743,468 | – | 3.35% | – |
| IAU | New | Gold iShares Trust ETFishares | $138,083,000 | – | 10,720,754 | – | 3.19% | – |
| TDC | New | Teradata Corp | $130,425,000 | – | 3,244,415 | – | 3.02% | – |
| MA | New | Mastercard Inc. Class Acl a | $124,942,000 | – | 1,700,817 | – | 2.89% | – |
| New | Baker Hughes Inc | $119,640,000 | – | 1,606,984 | – | 2.77% | – | |
| ITUB | New | Itau Unibanco S.A. ADRspon adr rep pfd | $108,395,000 | – | 3,710,893 | – | 2.51% | – |
| CVS | New | CVS Caremark Corp | $107,812,000 | – | 1,430,438 | – | 2.49% | – |
| AON | New | Aon Plc | $105,195,000 | – | 1,167,792 | – | 2.43% | – |
| GS | New | Goldman Sachs | $103,377,000 | – | 617,399 | – | 2.39% | – |
| DOX | New | Amdocs Ltdord | $91,412,000 | – | 1,973,068 | – | 2.11% | – |
| NWSA | New | News Corp - Class Acl b | $82,672,000 | – | 4,608,234 | – | 1.91% | – |
| HPQ | New | Hewlett Packard Co. | $78,278,000 | – | 109,005 | – | 1.81% | – |
| IM | New | Ingram Micro Inccl a | $72,224,000 | – | 2,144,415 | – | 1.67% | – |
| New | Berkshire Hathaway Inc.-Cl Bcl b | $68,739,000 | – | 543,134 | – | 1.59% | – | |
| ROSE | New | Rosetta Resources Inc. | $65,781,000 | – | 1,199,294 | – | 1.52% | – |
| QRTEA | New | Liberty Interactive Corp | $63,398,000 | – | 2,159,331 | – | 1.47% | – |
| FOX | New | Twenty First Cent Fox (News Corp Cl B)cl b | $58,881,000 | – | 1,720,160 | – | 1.36% | – |
| MMC | New | Marsh & McLennan Cos Inc. | $57,284,000 | – | 1,105,662 | – | 1.32% | – |
| CODE | New | Spansion Inc - Cl A | $56,594,000 | – | 2,685,977 | – | 1.31% | – |
| AGNC | New | American Capital Agency Corp | $46,882,000 | – | 2,002,640 | – | 1.08% | – |
| SYMC | New | Symantec Corp | $45,404,000 | – | 1,982,701 | – | 1.05% | – |
| NWS | New | News Corp Class Bcl b | $36,395,000 | – | 2,085,688 | – | 0.84% | – |
| BCO | New | Brinks Co. | $26,754,000 | – | 948,056 | – | 0.62% | – |
| LPI | New | Laredo Petroleum Inc. | $25,402,000 | – | 819,960 | – | 0.59% | – |
| GOOGL | New | Google Inc.cl a | $17,185,000 | – | 29,393 | – | 0.40% | – |
| GHC | New | Graham Holdings Co | $16,777,000 | – | 29,164 | – | 0.39% | – |
| NTL | New | Nortel Inversora - ADRspon adr rep pfd b | $1,704,000 | – | 66,864 | – | 0.04% | – |
| NCMI | New | National Cinemedia Inc | $937,000 | – | 53,490 | – | 0.02% | – |
Q4 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| NCMI | Exit | National Cinemedia Inc | $0 | – | -52,076 | – | -0.03% | – |
| NTL | Exit | Nortel Inversora - ADRspon adr rep pfd b | $0 | – | -85,047 | – | -0.04% | – |
| NWS | Exit | News Corp Class Bcl b | $0 | – | -411,053 | – | -0.18% | – |
| USM | Exit | US Cellular Corp | $0 | – | -221,066 | – | -0.26% | – |
| BRKB | Exit | Berkshire Hathaway Inc.-Cl Bcl b | $0 | – | -154,163 | – | -0.46% | – |
| TDS | Exit | Telephone & Data Systems | $0 | – | -947,361 | – | -0.74% | – |
| SEE | Exit | Sealed Air Corp | $0 | – | -1,032,111 | – | -0.74% | – |
| NLY | Exit | Annaly Capital Management Inc | $0 | – | -3,703,870 | – | -1.13% | – |
| HPQ | Exit | Hewlett Packard Co. | $0 | – | -2,064,734 | – | -1.14% | – |
| MMC | Exit | Marsh & McLennan Cos Inc. | $0 | – | -1,061,752 | – | -1.22% | – |
| QRTEA | Exit | Liberty Interactive Corp | $0 | – | -2,078,600 | – | -1.28% | – |
| CKH | Exit | Seacor Holdings Inc | $0 | – | -596,999 | – | -1.42% | – |
| FOX | Exit | Twenty First Cent Fox (News Corp Cl B)cl b | $0 | – | -1,644,225 | – | -1.44% | – |
| CODE | Exit | Spansion Inc - Cl A | $0 | – | -5,626,487 | – | -1.49% | – |
| GS | Exit | Goldman Sachs | $0 | – | -408,984 | – | -1.70% | – |
| DOX | Exit | Amdocs Ltdord | $0 | – | -1,897,366 | – | -1.83% | – |
| XEC | Exit | Cimarex Energy Co | $0 | – | -779,769 | – | -1.98% | – |
| CVS | Exit | CVS Caremark Corp | $0 | – | -1,377,172 | – | -2.05% | – |
| DV | Exit | DeVry Inc. | $0 | – | -2,831,851 | – | -2.27% | – |
| BHI | Exit | Baker Hughes Inc | $0 | – | -2,158,654 | – | -2.78% | – |
| IM | Exit | Ingram Micro Inccl a | $0 | – | -4,646,382 | – | -2.81% | – |
| GOOGL | Exit | Google Inc.cl a | $0 | – | -123,030 | – | -2.83% | – |
| ITUB | Exit | Itau Unibanco S.A. ADRspon adr rep pfd | $0 | – | -7,754,971 | – | -2.88% | – |
| EGN | Exit | Energen Corp | $0 | – | -1,607,487 | – | -3.23% | – |
| IAU | Exit | Gold iShares Trust ETFishares | $0 | – | -9,636,867 | – | -3.26% | – |
| AON | Exit | Aon Plc | $0 | – | -1,801,343 | – | -3.52% | – |
| WPO | Exit | Washington Postcl b | $0 | – | -230,385 | – | -3.70% | – |
| UEPS | Exit | Net 1 UEPS Technologies | $0 | – | -12,641,021 | – | -3.98% | – |
| MSFT | Exit | Microsoft | $0 | – | -4,613,317 | – | -4.03% | – |
| OXY | Exit | Occidental Petroleum Corp | $0 | – | -1,656,174 | – | -4.07% | – |
| TTE | Exit | Total SA - Spon ADRspon adr | $0 | – | -2,759,262 | – | -4.20% | – |
| MA | Exit | Mastercard Inc. Class Acl a | $0 | – | -281,065 | – | -4.97% | – |
| EXPD | Exit | Expeditors Intl of Washington Inc. | $0 | – | -5,061,369 | – | -5.86% | – |
| ORCL | Exit | Oracle Corp | $0 | – | -8,778,350 | – | -7.65% | – |
| BRKA | Exit | Berkshire Hathaway Inc.-Cl Acl a | $0 | – | -2,068 | – | -9.26% | – |
| DVN | Exit | Devon Energy Corp | $0 | – | -6,308,817 | – | -9.57% | – |
Q3 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| DVN | Buy | Devon Energy Corp | $364,397,000 | +11.5% | 6,308,817 | +0.2% | 9.57% | +10.3% |
| BRKA | New | Berkshire Hathaway Inc.-Cl Acl a | $352,408,000 | – | 2,068 | – | 9.26% | – |
| ORCL | Buy | Oracle Corp | $291,178,000 | +8.2% | 8,778,350 | +0.2% | 7.65% | +7.0% |
| EXPD | Sell | Expeditors Intl of Washington Inc. | $223,004,000 | -10.2% | 5,061,369 | -22.4% | 5.86% | -11.1% |
| MA | Buy | Mastercard Inc. Class Acl a | $189,095,000 | +17.3% | 281,065 | +0.2% | 4.97% | +16.0% |
| TTE | Sell | Total SA - Spon ADRspon adr | $159,816,000 | -13.0% | 2,759,262 | -26.8% | 4.20% | -13.9% |
| OXY | Buy | Occidental Petroleum Corp | $154,919,000 | +5.0% | 1,656,174 | +0.2% | 4.07% | +3.9% |
| MSFT | Buy | Microsoft | $153,531,000 | -3.5% | 4,613,317 | +0.2% | 4.03% | -4.5% |
| UEPS | Buy | Net 1 UEPS Technologies | $151,629,000 | +63.2% | 12,641,021 | +0.1% | 3.98% | +61.4% |
| WPO | Sell | Washington Postcl b | $140,846,000 | -22.2% | 230,385 | -38.5% | 3.70% | -23.1% |
| AON | Buy | Aon Plc | $134,092,000 | +15.9% | 1,801,343 | +0.2% | 3.52% | +14.6% |
| IAU | Sell | Gold iShares Trust ETFishares | $124,219,000 | -11.3% | 9,636,867 | -17.5% | 3.26% | -12.2% |
| EGN | Buy | Energen Corp | $122,796,000 | +46.4% | 1,607,487 | +0.2% | 3.23% | +44.8% |
| ITUB | Sell | Itau Unibanco S.A. ADRspon adr rep pfd | $109,500,000 | -4.5% | 7,754,971 | -12.6% | 2.88% | -5.5% |
| GOOGL | Buy | Google Inc.cl a | $107,763,000 | -0.3% | 123,030 | +0.2% | 2.83% | -1.4% |
| IM | Buy | Ingram Micro Inccl a | $107,099,000 | +21.6% | 4,646,382 | +0.2% | 2.81% | +20.3% |
| BHI | New | Baker Hughes Inc | $105,990,000 | – | 2,158,654 | – | 2.78% | – |
| DV | Buy | DeVry Inc. | $86,541,000 | -1.3% | 2,831,851 | +0.2% | 2.27% | -2.4% |
| CVS | Buy | CVS Caremark Corp | $78,155,000 | -0.6% | 1,377,172 | +0.2% | 2.05% | -1.7% |
| XEC | Buy | Cimarex Energy Co | $75,170,000 | +115.0% | 779,769 | +45.0% | 1.98% | +112.6% |
| DOX | Buy | Amdocs Ltdord | $69,519,000 | -1.0% | 1,897,366 | +0.2% | 1.83% | -2.1% |
| GS | Buy | Goldman Sachs | $64,705,000 | +4.8% | 408,984 | +0.2% | 1.70% | +3.7% |
| CODE | Buy | Spansion Inc - Cl A | $56,771,000 | +82.4% | 5,626,487 | +126.4% | 1.49% | +80.4% |
| FOX | New | Twenty First Cent Fox (News Corp Cl B)cl b | $54,917,000 | – | 1,644,225 | – | 1.44% | – |
| CKH | Buy | Seacor Holdings Inc | $53,993,000 | +9.1% | 596,999 | +0.2% | 1.42% | +7.9% |
| QRTEA | Buy | Liberty Interactive Corp | $48,785,000 | +2.2% | 2,078,600 | +0.2% | 1.28% | +1.1% |
| MMC | Buy | Marsh & McLennan Cos Inc. | $46,239,000 | +9.3% | 1,061,752 | +0.2% | 1.22% | +8.1% |
| HPQ | Buy | Hewlett Packard Co. | $43,339,000 | -15.2% | 2,064,734 | +0.2% | 1.14% | -16.1% |
| NLY | New | Annaly Capital Management Inc | $42,891,000 | – | 3,703,870 | – | 1.13% | – |
| SEE | Sell | Sealed Air Corp | $28,063,000 | -17.4% | 1,032,111 | -27.2% | 0.74% | -18.3% |
| TDS | Sell | Telephone & Data Systems | $27,995,000 | -5.4% | 947,361 | -21.1% | 0.74% | -6.5% |
| BRKB | New | Berkshire Hathaway Inc.-Cl Bcl b | $17,499,000 | – | 154,163 | – | 0.46% | – |
| USM | Sell | US Cellular Corp | $10,065,000 | -49.3% | 221,066 | -59.1% | 0.26% | -49.9% |
| NWS | New | News Corp Class Bcl b | $6,754,000 | – | 411,053 | – | 0.18% | – |
| NCMI | Buy | National Cinemedia Inc | $982,000 | +12.0% | 52,076 | +0.2% | 0.03% | +13.0% |
| GLD | Exit | Gold SPDR Trust | $0 | – | -629 | – | -0.00% | – |
| ERA | Exit | ERA Group Inc | $0 | – | -629,135 | – | -0.44% | – |
| AIT | Exit | Applied Materials Inc | $0 | – | -2,450,000 | – | -0.97% | – |
| DELL | Exit | Dell Inc. | $0 | – | -2,837,189 | – | -1.00% | – |
| Exit | Berkshire Hathaway Inc.-Cl Bcl b | $0 | – | -376,602 | – | -1.12% | – | |
| Exit | Annaly Capital Management Inc | $0 | – | -3,697,251 | – | -1.24% | – | |
| Exit | Baker Hughes Inc | $0 | – | -2,622,327 | – | -3.21% | – | |
| Exit | Berkshire Hathaway Inc.-Cl Acl a | $0 | – | -2,394 | – | -10.72% | – |
Q2 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| New | Berkshire Hathaway Inc.-Cl Acl a | $403,628,000 | – | 2,394 | – | 10.72% | – | |
| DVN | New | Devon Energy Corp | $326,715,000 | – | 6,297,521 | – | 8.68% | – |
| ORCL | New | Oracle Corp | $269,101,000 | – | 8,762,658 | – | 7.15% | – |
| EXPD | New | Expeditors Intl of Washington Inc. | $248,219,000 | – | 6,525,202 | – | 6.59% | – |
| TTE | New | Total SA - Spon ADRspon adr | $183,622,000 | – | 3,770,480 | – | 4.88% | – |
| WPO | New | Washington Postcl b | $181,108,000 | – | 374,369 | – | 4.81% | – |
| MA | New | Mastercard Inc. Class Acl a | $161,191,000 | – | 280,577 | – | 4.28% | – |
| MSFT | New | Microsoft | $159,084,000 | – | 4,605,122 | – | 4.23% | – |
| OXY | New | Occidental Petroleum Corp | $147,524,000 | – | 1,653,302 | – | 3.92% | – |
| IAU | New | Gold iShares Trust ETFishares | $140,020,000 | – | 11,678,072 | – | 3.72% | – |
| New | Baker Hughes Inc | $120,968,000 | – | 2,622,327 | – | 3.21% | – | |
| AON | New | Aon Plc | $115,716,000 | – | 1,798,227 | – | 3.07% | – |
| ITUB | New | Itau Unibanco S.A. ADRspon adr rep pfd | $114,660,000 | – | 8,874,593 | – | 3.05% | – |
| GOOGL | New | Google Inc.cl a | $108,119,000 | – | 122,811 | – | 2.87% | – |
| UEPS | New | Net 1 UEPS Technologies | $92,929,000 | – | 12,626,159 | – | 2.47% | – |
| IM | New | Ingram Micro Inccl a | $88,081,000 | – | 4,638,277 | – | 2.34% | – |
| DV | New | DeVry Inc. | $87,691,000 | – | 2,826,922 | – | 2.33% | – |
| EGN | New | Energen Corp | $83,858,000 | – | 1,604,640 | – | 2.23% | – |
| CVS | New | CVS Caremark Corp | $78,610,000 | – | 1,374,781 | – | 2.09% | – |
| DOX | New | Amdocs Ltdord | $70,251,000 | – | 1,894,066 | – | 1.87% | – |
| GS | New | Goldman Sachs | $61,751,000 | – | 408,274 | – | 1.64% | – |
| HPQ | New | Hewlett Packard Co. | $51,115,000 | – | 2,061,101 | – | 1.36% | – |
| CKH | New | Seacor Holdings Inc | $49,494,000 | – | 595,956 | – | 1.32% | – |
| QRTEA | New | Liberty Interactive Corp | $47,747,000 | – | 2,075,067 | – | 1.27% | – |
| New | Annaly Capital Management Inc | $46,474,000 | – | 3,697,251 | – | 1.24% | – | |
| MMC | New | Marsh & McLennan Cos Inc. | $42,311,000 | – | 1,059,887 | – | 1.12% | – |
| New | Berkshire Hathaway Inc.-Cl Bcl b | $42,149,000 | – | 376,602 | – | 1.12% | – | |
| DELL | New | Dell Inc. | $37,806,000 | – | 2,837,189 | – | 1.00% | – |
| AIT | New | Applied Materials Inc | $36,554,000 | – | 2,450,000 | – | 0.97% | – |
| XEC | New | Cimarex Energy Co | $34,955,000 | – | 537,847 | – | 0.93% | – |
| SEE | New | Sealed Air Corp | $33,956,000 | – | 1,417,772 | – | 0.90% | – |
| CODE | New | Spansion Inc - Cl A | $31,120,000 | – | 2,485,645 | – | 0.83% | – |
| TDS | New | Telephone & Data Systems | $29,586,000 | – | 1,200,240 | – | 0.79% | – |
| USM | New | US Cellular Corp | $19,848,000 | – | 540,955 | – | 0.53% | – |
| ERA | New | ERA Group Inc | $16,452,000 | – | 629,135 | – | 0.44% | – |
| NTL | New | Nortel Inversora - ADRspon adr rep pfd b | $1,234,000 | – | 85,047 | – | 0.03% | – |
| NCMI | New | National Cinemedia Inc | $877,000 | – | 51,949 | – | 0.02% | – |
| GLD | New | Gold SPDR Trust | $75,000 | – | 629 | – | 0.00% | – |