MARSHALL WACE ASIA Ltd Activity Q1 2011-Q3 2021

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Q3 2021

			Value		Shares		↓ Weighting
COF	Buy	CAPITAL ONE FINA	$206,691,000	+13.2%	1,276,111	+8.1%	4.89%	+26.7%
SYF	Sell	SYNCHRONY FINANC	$163,034,000	-24.5%	3,335,392	-25.1%	3.86%	-15.5%
CFG	Buy	CITIZENS FINANCI	$151,065,000	+28.9%	3,215,508	+25.8%	3.58%	+44.3%
ALB	New	ALBEMARLE CORP	$144,979,000	–	662,091	–	3.43%	–
ALLY	Buy	ALLY FINANCIAL I	$137,607,000	+8.9%	2,695,524	+6.3%	3.26%	+21.9%
URI	Buy	UNITED RENTALS	$123,284,000	+24.9%	351,307	+13.5%	2.92%	+39.8%
AMP	Buy	AMERIPRISE FINAN	$123,007,000	+33.8%	465,724	+26.1%	2.91%	+49.8%
GS	Buy	GOLDMAN SACHS GP	$121,141,000	+1.0%	320,454	+1.4%	2.87%	+13.1%
LIN	Sell	LINDE PLC	$104,498,000	-1.4%	356,185	-2.9%	2.47%	+10.4%
BMO	Buy	BANK OF MONTREAL	$103,593,000	+28.7%	1,037,899	+32.3%	2.45%	+44.0%
IBKR	Buy	INTERACTIVE BROK	$101,467,000	+55.1%	1,627,635	+63.6%	2.40%	+73.7%
PDD	Buy	PINDUODUO IN-ADRadr	$96,049,000	+1049.0%	1,059,333	+1509.6%	2.27%	+1184.2%
BSX	Buy	BOSTON SCIENTIFC	$95,056,000	+75.0%	2,190,737	+72.5%	2.25%	+95.9%
MDT	New	MEDTRONIC PLC	$92,923,000	–	741,304	–	2.20%	–
SKX	Sell	SKECHERS USA-A	$92,491,000	-30.8%	2,195,913	-18.1%	2.19%	-22.5%
CARR	Sell	CARRIER GLOB	$89,128,000	-10.3%	1,721,936	-15.8%	2.11%	+0.4%
TMO	Buy	THERMO FISHER	$85,727,000	+30.0%	150,046	+14.8%	2.03%	+45.6%
WFC	Sell	WELLS FARGO & CO	$80,590,000	-31.9%	1,736,467	-33.5%	1.91%	-23.7%
CPA	Buy	COPA HOLDIN-CL A	$80,230,000	+8.9%	985,874	+0.8%	1.90%	+22.0%
CM	Buy	CAN IMPL BK COMM	$78,331,000	+33.1%	703,780	+36.3%	1.85%	+49.2%
ENTG	Sell	ENTEGRIS INC	$75,135,000	-13.1%	596,785	-15.1%	1.78%	-2.7%
LPLA	Buy	LPL FINANCIAL HO	$73,543,000	+53.5%	469,142	+32.2%	1.74%	+71.9%
DAR	New	DARLING INGREDIE	$69,390,000	–	965,091	–	1.64%	–
SI	Sell	SILVERGATE CAP-A	$68,306,000	-16.0%	591,380	-17.6%	1.62%	-6.0%
MSGS	Sell	MADISON SQUARE G	$67,579,000	-12.9%	363,423	-19.1%	1.60%	-2.4%
TRU	Sell	TRANSUNION	$63,152,000	-51.3%	562,302	-52.4%	1.49%	-45.5%
BNS	Buy	BANK OF NOVA SCO	$62,767,000	+7.2%	1,019,942	+13.4%	1.48%	+20.0%
TCOM	Buy	TRIP.COM GRO-ADRadr	$62,538,000	+14.3%	2,033,732	+31.8%	1.48%	+28.0%
KRE	Buy	SPDR S&P REG BANetp	$60,383,000	+203.1%	891,262	+193.2%	1.43%	+239.4%
	New	WOLFSPEED INC	$59,368,000	–	734,932	–	1.40%	–
SBNY	Buy	SIGNATURE BANK	$59,313,000	+20.8%	217,838	+9.0%	1.40%	+35.4%
CBOE	Buy	CBOE GLOBAL MARK	$58,212,000	+29.9%	469,980	+24.8%	1.38%	+45.5%
OTIS	Sell	OTIS WORLDWI	$57,834,000	-54.8%	702,895	-55.1%	1.37%	-49.4%
MDB	Sell	MONGODB INC	$52,557,000	-3.2%	111,465	-25.8%	1.24%	+8.4%
VMW	Buy	VMWARE INC-CL A	$51,682,000	-4.3%	347,558	+2.9%	1.22%	+7.2%
CMG	Buy	CHIPOTLE MEXICAN	$51,190,000	+24.2%	28,165	+5.9%	1.21%	+39.0%
OUT	Buy	OUTFRONT MEDIA Ireit	$44,858,000	+64.6%	1,780,095	+56.9%	1.06%	+84.4%
YNDX	Buy	YANDEX NV-A	$44,467,000	+42.4%	556,812	+26.5%	1.05%	+59.4%
MCO	Sell	MOODY'S CORP	$35,445,000	-3.0%	99,813	-1.1%	0.84%	+8.5%
PGR	Buy	PROGRESSIVE CORP	$35,397,000	+3.8%	391,608	+12.8%	0.84%	+16.2%
LAZ	Buy	LAZARD LTD-CL A	$34,642,000	+64.5%	756,362	+62.5%	0.82%	+84.3%
RJF	Buy	RAYMOND JAMES	$33,429,000	+48.9%	362,259	+109.6%	0.79%	+66.5%
SQ	New	SQUARE INC - A	$32,743,000	–	136,520	–	0.78%	–
TEL	New	TE CONNECTIVITY	$32,552,000	–	237,227	–	0.77%	–
MMYT	Sell	MAKEMYTRIP LTD	$29,283,000	-15.0%	1,076,968	-6.0%	0.69%	-4.8%
GPK	New	GRAPHIC PACKAGIN	$28,816,000	–	1,513,436	–	0.68%	–
EEFT	Buy	EURONET WORLDWID	$26,369,000	+5.3%	207,173	+11.9%	0.62%	+18.0%
NXPI	Sell	NXP SEMICONDUCTO	$26,056,000	-7.3%	133,028	-2.7%	0.62%	+3.9%
EVR	Buy	EVERCORE INC	$25,883,000	+101.9%	193,627	+112.6%	0.61%	+125.8%
SE	Buy	SEA LTD-ADRadr	$25,386,000	+581.9%	79,646	+487.6%	0.60%	+660.8%
PYPL	Sell	PAYPAL HOLDINGS	$22,562,000	-53.9%	86,705	-48.4%	0.53%	-48.4%
STNE	Buy	STONECO LTD-A	$21,904,000	+7695.0%	630,889	+14982.2%	0.52%	+8533.3%
SPGI	Sell	S&P GLOBAL INC	$21,050,000	-40.3%	49,543	-42.3%	0.50%	-33.2%
SSYS	Buy	STRATASYS LTD	$20,854,000	+2.4%	969,083	+23.1%	0.49%	+14.7%
GSM	New	FERROGLOBE PLC	$20,694,000	–	2,378,511	–	0.49%	–
ICE	Sell	INTERCONTINENTAL	$20,608,000	-62.9%	179,481	-61.6%	0.49%	-58.4%
WING	Buy	WINGSTOP INC	$20,534,000	+26.3%	125,257	+21.4%	0.49%	+41.3%
NVRO	New	NEVRO CORP	$19,939,000	–	171,328	–	0.47%	–
ABNB	New	AIRBNB INC-A	$19,362,000	–	115,423	–	0.46%	–
DNB	Buy	DUN & BRADSTREET	$18,441,000	+9.4%	1,097,025	+39.0%	0.44%	+22.5%
UBS	New	UBS GROUP AG	$18,252,000	–	1,135,074	–	0.43%	–
ROKU	Sell	ROKU INC	$18,212,000	-64.6%	58,123	-48.1%	0.43%	-60.3%
	New	DERMTECH INC	$17,820,000	–	554,949	–	0.42%	–
EL	New	ESTEE LAUDER	$17,082,000	–	56,951	–	0.40%	–
MU	Sell	MICRON TECH	$16,985,000	-31.0%	239,291	-17.4%	0.40%	-22.8%
JMIA	Buy	JUMIA TECHNO-ADRadr	$15,939,000	-36.3%	857,440	+3.9%	0.38%	-28.7%
BIDU	Buy	BAIDU INC-SP ADRadr	$14,663,000	+423.1%	95,367	+593.7%	0.35%	+488.1%
XPEV	Buy	XPENG INC-ADRadr	$12,112,000	+156.7%	340,786	+220.9%	0.29%	+187.0%
NTES	Buy	NETEASE INC-ADRadr	$11,885,000	+1789.5%	139,163	+2450.2%	0.28%	+2061.5%
KC	Sell	KINGSOFT CLO-ADRadr	$11,363,000	-17.9%	401,223	-1.7%	0.27%	-8.2%
FLYW	Buy	FLYWIRE CORP-VOT	$10,974,000	+306.9%	250,312	+241.0%	0.26%	+356.1%
APO	New	APOLLO GLOBAL MA	$10,460,000	–	169,836	–	0.25%	–
ZTO	New	ZTO EXPRESS -ADRadr	$10,043,000	–	327,557	–	0.24%	–
PRG	Sell	PROG HOLDINGS IN	$9,917,000	-40.4%	236,054	-31.7%	0.24%	-33.2%
AMAT	New	APPLIED MATERIAL	$9,265,000	–	71,971	–	0.22%	–
ATHM	Buy	AUTOHOME INC-ADRadr	$9,151,000	+995.9%	194,989	+1394.2%	0.22%	+1105.6%
HTHT	Sell	HUAZHU GROUP-ADRadr	$9,125,000	-61.6%	198,967	-55.8%	0.22%	-57.1%
DB	New	DEUTSCHE BANK-RG	$8,954,000	–	700,113	–	0.21%	–
	New	JACKSON FI-A	$8,310,000	–	319,635	–	0.20%	–
LI	Sell	LI AUTO INC -ADRadr	$5,400,000	-69.3%	205,407	-59.2%	0.13%	-65.6%
SLG	New	SL GREEN REALTYreit	$4,683,000	–	66,115	–	0.11%	–
NCLH	Sell	NORWEGIAN CRUISE	$4,378,000	-70.2%	163,927	-67.2%	0.10%	-66.6%
SOL	Buy	RENESOLA LTD-ADRadr	$4,355,000	+45.6%	662,804	+101.7%	0.10%	+63.5%
YSG	Buy	YATSEN HOLD-ADRadr	$3,724,000	+22.6%	977,348	+201.5%	0.09%	+37.5%
JKS	New	JINKOSOLAR-ADRadr	$3,651,000	–	79,694	–	0.09%	–
LU	Sell	LUFAX HOLDIN-ADRadr	$2,917,000	-71.5%	417,862	-53.8%	0.07%	-68.1%
BILI	Sell	BILIBILI INC-ADRadr	$2,794,000	-72.6%	42,225	-49.6%	0.07%	-69.4%
CD	New	CHINDATA GRP-ADRadr	$2,771,000	–	329,516	–	0.07%	–
BEKE	Buy	KE HOLDINGS -ADRadr	$2,320,000	-46.1%	127,066	+40.6%	0.06%	-39.6%
BTCM	New	BIT MININ-SP ADRadr	$2,039,000	–	249,545	–	0.05%	–
WIMI	Buy	WIMI HOLOGRAM-ADadr	$2,007,000	+139.8%	487,140	+219.6%	0.05%	+161.1%
GTH	New	GENETRON HOL-ADRadr	$1,550,000	–	111,932	–	0.04%	–
QD	Buy	QUDIAN INC-SPONadr	$1,402,000	+3015.6%	960,275	+5083.1%	0.03%	+3200.0%
LX	New	LEXINFINTECH-ADRadr	$1,360,000	–	230,844	–	0.03%	–
EQOS	New	EQONEX LTD	$1,223,000	–	377,585	–	0.03%	–
CX	Sell	CEMEX SAB-SP ADRadr	$1,145,000	-24.7%	159,685	-11.8%	0.03%	-15.6%
OCFT	New	ONECONNECT FINadr	$965,000	–	235,395	–	0.02%	–
INDI	New	INDIE SEMICOND-A	$878,000	–	71,340	–	0.02%	–
SNP	Buy	CHINA PETRO-ADRadr	$908,000	+102.7%	18,467	+110.5%	0.02%	+133.3%
TAL	New	TAL EDUCATIO-ADRadr	$807,000	–	166,803	–	0.02%	–
PAGS	Buy	PAGSEGURO DIGI-A	$576,000	+34.0%	11,130	+44.8%	0.01%	+55.6%
XNET	New	XUNLEI LTD-ADRadr	$612,000	–	214,145	–	0.01%	–
CAN	New	CANAAN INCadr	$542,000	–	88,760	–	0.01%	–
KNDI	New	KANDI TECHNOLOGI	$526,000	–	118,200	–	0.01%	–
ZLAB	Sell	ZAI LAB LTD-ADRadr	$509,000	-85.5%	4,830	-75.6%	0.01%	-83.8%
API	New	AGORA INC-ADRadr	$490,000	–	16,881	–	0.01%	–
FMX	Sell	FOMENTO ECON-ADRadr	$457,000	-34.8%	5,267	-36.5%	0.01%	-26.7%
MELI	Sell	MERCADOLIBRE INC	$447,000	-45.6%	266	-49.5%	0.01%	-35.3%
BSMX	New	BANCO SANTA-ADRadr	$385,000	–	67,206	–	0.01%	–
SY	New	SO-YOUNG INT-ADRadr	$385,000	–	90,288	–	0.01%	–
BEST	New	BEST INC - ADRadr	$323,000	–	193,632	–	0.01%	–
NFH	New	NEW FRONTIER HEA	$254,000	–	22,652	–	0.01%	–
BLCT	New	BLUECITY HOL-ADRadr	$213,000	–	71,114	–	0.01%	–
JG	New	AURORA MOBIL-ADRadr	$227,000	–	135,769	–	0.01%	–
LIZI	New	LIZHI INCadr	$185,000	–	58,415	–	0.00%	–
DUO	New	FANGDD NETWO-ADRadr	$184,000	–	166,049	–	0.00%	–
CYD	New	CHINA YUCHAI	$159,000	–	11,700	–	0.00%	–
BQ	New	BOQII HOLDING LTadr	$168,000	–	72,715	–	0.00%	–
TOUR	New	TUNIU CORP-ADRadr	$115,000	–	75,962	–	0.00%	–
HUIZ	New	HUIZE HOLDIN-ADRadr	$143,000	–	62,730	–	0.00%	–
RAAS	New	CLOOPEN GROUP HOadr	$95,000	–	21,451	–	0.00%	–
XIN	New	XINYUAN REAL-ADRadr	$48,000	–	27,190	–	0.00%	–
GSMG	New	GLORY STAR NEW M	$42,000	–	25,590	–	0.00%	–
CLPS	New	CLPS INC	$30,000	–	10,315	–	0.00%	–
YRD	New	YIREN DIGITAL LTadr	$62,000	–	20,720	–	0.00%	–
LITB	New	LIGHTINTHEBO-ADRadr	$22,000	–	16,282	–	0.00%	–
CAAS	New	CHINA AUTOMOTIVE	$43,000	–	13,046	–	0.00%	–
FAMI	Exit	FARMMI INC	$0	–	-46,511	–	0.00%	–
ALAC	Exit	ALBERTON ACQUISI	$0	–	-10,479	–	-0.00%	–
BTBT	Exit	BIT DIGITAL INC	$0	–	-32,610	–	-0.01%	–
EH	Exit	EHANG HOLDINGSadr	$0	–	-6,020	–	-0.01%	–
VLRS	Exit	CONTROLADORA-ADRadr	$0	–	-18,009	–	-0.01%	–
NIU	Exit	NIU TECHNOLO-ADRadr	$0	–	-10,153	–	-0.01%	–
AZUL	Exit	AZUL SA-ADRadr	$0	–	-14,706	–	-0.01%	–
BZ	Exit	KANZHUN LTDadr	$0	–	-9,261	–	-0.01%	–
MFC	Exit	MANULIFE FIN	$0	–	-20,900	–	-0.01%	–
NIO	Exit	NIO INC - ADRadr	$0	–	-10,195	–	-0.01%	–
BTWNU	Exit	BRIDGETOWN HOLDIunit	$0	–	-52,289	–	-0.01%	–
DQ	Exit	DAQO NEW ENE-ADRadr	$0	–	-12,398	–	-0.02%	–
VALE	Exit	VALE SA-SP ADRadr	$0	–	-37,402	–	-0.02%	–
TX	Exit	TERNIUM SA-ADRadr	$0	–	-22,687	–	-0.02%	–
LFC	Exit	CHINA LIFE-ADRadr	$0	–	-115,007	–	-0.02%	–
HCM	Exit	HUTCHMED CHI-ADRadr	$0	–	-33,243	–	-0.03%	–
YUMC	Exit	YUM CHINA HO	$0	–	-25,679	–	-0.04%	–
ALGN	Exit	ALIGN TECHNOLOGY	$0	–	-3,569	–	-0.05%	–
GOOG	Exit	ALPHABET INC-C	$0	–	-867	–	-0.05%	–
TRV	Exit	TRAVELERS COS IN	$0	–	-14,630	–	-0.05%	–
NFLX	Exit	NETFLIX INC	$0	–	-4,100	–	-0.05%	–
AZO	Exit	AUTOZONE INC	$0	–	-1,466	–	-0.05%	–
FB	Exit	FACEBOOK INC-A	$0	–	-6,216	–	-0.05%	–
GM	Exit	GENERAL MOTORS C	$0	–	-37,183	–	-0.05%	–
BRKB	Exit	BERKSHIRE HATH-B	$0	–	-7,919	–	-0.05%	–
CVX	Exit	CHEVRON CORP	$0	–	-21,082	–	-0.05%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-34,930	–	-0.05%	–
WMT	Exit	WALMART INC	$0	–	-15,928	–	-0.05%	–
NOV	Exit	NOV INC	$0	–	-147,804	–	-0.05%	–
PTR	Exit	PETROCHINA -ADRadr	$0	–	-52,351	–	-0.05%	–
IMAB	Exit	I-MAB-ADRadr	$0	–	-44,893	–	-0.08%	–
IQ	Exit	IQIYI INC-ADRadr	$0	–	-398,547	–	-0.13%	–
ALK	Exit	ALASKA AIR GROUP	$0	–	-150,229	–	-0.19%	–
BABA	Exit	ALIBABA GRP-ADRadr	$0	–	-43,666	–	-0.21%	–
QFIN	Exit	360 DIGITECH INCadr	$0	–	-254,009	–	-0.22%	–
XLF	Exit	SPDR-FINL SELECTetp	$0	–	-409,165	–	-0.32%	–
FXI	Exit	ISHARES CHINA LAetp	$0	–	-324,932	–	-0.32%	–
RLX	Exit	RLX TECHNOLO-ADRadr	$0	–	-1,746,025	–	-0.32%	–
AMBA	Exit	AMBARELLA INC	$0	–	-150,690	–	-0.34%	–
BK	Exit	BANK NY MELLON	$0	–	-397,553	–	-0.43%	–
EEM	Exit	ISHARES MSCI EMEetp	$0	–	-457,752	–	-0.53%	–
AMD	Exit	ADV MICRO DEVICE	$0	–	-303,436	–	-0.60%	–
VIPS	Exit	VIPSHOP HOLD-ADRadr	$0	–	-1,464,992	–	-0.62%	–
TME	Exit	TENCENT MUSI-ADRadr	$0	–	-1,994,898	–	-0.65%	–
IIVI	Exit	II-VI INC	$0	–	-450,364	–	-0.69%	–
COUP	Exit	COUPA SOFTWARE I	$0	–	-126,450	–	-0.70%	–
AMZN	Exit	AMAZON.COM INC	$0	–	-10,701	–	-0.78%	–
LVS	Exit	LAS VEGAS SANDS	$0	–	-753,480	–	-0.84%	–
FUTU	Exit	FUTU HOLDING-ADRadr	$0	–	-234,375	–	-0.89%	–
AVGO	Exit	BROADCOM INC	$0	–	-88,256	–	-0.89%	–
DELL	Exit	DELL TECHN-C	$0	–	-535,191	–	-1.13%	–
INMD	Exit	INMODE LTD	$0	–	-565,217	–	-1.13%	–
CREE	Exit	CREE INC	$0	–	-550,127	–	-1.14%	–
GOOGL	Exit	ALPHABET INC-A	$0	–	-24,617	–	-1.27%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-416,305	–	-1.27%	–
TJX	Exit	TJX COS INC	$0	–	-941,060	–	-1.34%	–
ILMN	Exit	ILLUMINA INC	$0	–	-200,287	–	-2.00%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-484,935	–	-2.72%	–
MS	Exit	MORGAN STANLEY	$0	–	-2,263,572	–	-4.39%	–

Q2 2021

			Value		Shares		↓ Weighting
SYF	New	SYNCHRONY FINANC	$216,067,000	–	4,453,161	–	4.57%	–
MS	New	MORGAN STANLEY	$207,548,000	–	2,263,572	–	4.39%	–
COF	New	CAPITAL ONE FINA	$182,620,000	–	1,180,552	–	3.86%	–
SKX	New	SKECHERS USA-A	$133,633,000	–	2,681,780	–	2.82%	–
TRU	New	TRANSUNION	$129,753,000	–	1,181,620	–	2.74%	–
NSC	New	NORFOLK SOUTHERN	$128,706,000	–	484,935	–	2.72%	–
OTIS	New	OTIS WORLDWI	$127,916,000	–	1,564,349	–	2.70%	–
ALLY	New	ALLY FINANCIAL I	$126,336,000	–	2,534,850	–	2.67%	–
GS	New	GOLDMAN SACHS GP	$119,981,000	–	316,129	–	2.54%	–
WFC	New	WELLS FARGO & CO	$118,299,000	–	2,612,022	–	2.50%	–
CFG	New	CITIZENS FINANCI	$117,216,000	–	2,555,386	–	2.48%	–
LIN	New	LINDE PLC	$106,023,000	–	366,738	–	2.24%	–
CARR	New	CARRIER GLOB	$99,359,000	–	2,044,436	–	2.10%	–
URI	New	UNITED RENTALS	$98,724,000	–	309,470	–	2.09%	–
ILMN	New	ILLUMINA INC	$94,778,000	–	200,287	–	2.00%	–
AMP	New	AMERIPRISE FINAN	$91,933,000	–	369,386	–	1.94%	–
ENTG	New	ENTEGRIS INC	$86,431,000	–	702,866	–	1.83%	–
SI	New	SILVERGATE CAP-A	$81,316,000	–	717,581	–	1.72%	–
BMO	New	BANK OF MONTREAL	$80,518,000	–	784,702	–	1.70%	–
MSGS	New	MADISON SQUARE G	$77,567,000	–	449,485	–	1.64%	–
CPA	New	COPA HOLDIN-CL A	$73,675,000	–	978,037	–	1.56%	–
TMO	New	THERMO FISHER	$65,961,000	–	130,754	–	1.39%	–
IBKR	New	INTERACTIVE BROK	$65,401,000	–	994,993	–	1.38%	–
TJX	New	TJX COS INC	$63,446,000	–	941,060	–	1.34%	–
TMUS	New	T-MOBILE US INC	$60,293,000	–	416,305	–	1.27%	–
GOOGL	New	ALPHABET INC-A	$60,110,000	–	24,617	–	1.27%	–
CM	New	CAN IMPL BK COMM	$58,835,000	–	516,326	–	1.24%	–
BNS	New	BANK OF NOVA SCO	$58,541,000	–	899,114	–	1.24%	–
ICE	New	INTERCONTINENTAL	$55,501,000	–	467,575	–	1.17%	–
TCOM	New	TRIP.COM GRO-ADRadr	$54,697,000	–	1,542,501	–	1.16%	–
BSX	New	BOSTON SCIENTIFC	$54,317,000	–	1,270,278	–	1.15%	–
MDB	New	MONGODB INC	$54,318,000	–	150,248	–	1.15%	–
VMW	New	VMWARE INC-CL A	$54,010,000	–	337,624	–	1.14%	–
CREE	New	CREE INC	$53,874,000	–	550,127	–	1.14%	–
INMD	New	INMODE LTD	$53,515,000	–	565,217	–	1.13%	–
DELL	New	DELL TECHN-C	$53,342,000	–	535,191	–	1.13%	–
ROKU	New	ROKU INC	$51,386,000	–	111,890	–	1.09%	–
SBNY	New	SIGNATURE BANK	$49,090,000	–	199,836	–	1.04%	–
PYPL	New	PAYPAL HOLDINGS	$48,967,000	–	167,995	–	1.04%	–
LPLA	New	LPL FINANCIAL HO	$47,898,000	–	354,854	–	1.01%	–
CBOE	New	CBOE GLOBAL MARK	$44,828,000	–	376,549	–	0.95%	–
AVGO	New	BROADCOM INC	$42,084,000	–	88,256	–	0.89%	–
FUTU	New	FUTU HOLDING-ADRadr	$41,974,000	–	234,375	–	0.89%	–
CMG	New	CHIPOTLE MEXICAN	$41,219,000	–	26,587	–	0.87%	–
LVS	New	LAS VEGAS SANDS	$39,702,000	–	753,480	–	0.84%	–
AMZN	New	AMAZON.COM INC	$36,814,000	–	10,701	–	0.78%	–
MCO	New	MOODY'S CORP	$36,554,000	–	100,875	–	0.77%	–
SPGI	New	S&P GLOBAL INC	$35,269,000	–	85,927	–	0.74%	–
MMYT	New	MAKEMYTRIP LTD	$34,431,000	–	1,145,786	–	0.73%	–
PGR	New	PROGRESSIVE CORP	$34,095,000	–	347,161	–	0.72%	–
COUP	New	COUPA SOFTWARE I	$33,143,000	–	126,450	–	0.70%	–
IIVI	New	II-VI INC	$32,692,000	–	450,364	–	0.69%	–
YNDX	New	YANDEX NV-A	$31,229,000	–	440,083	–	0.66%	–
TME	New	TENCENT MUSI-ADRadr	$30,880,000	–	1,994,898	–	0.65%	–
VIPS	New	VIPSHOP HOLD-ADRadr	$29,417,000	–	1,464,992	–	0.62%	–
AMD	New	ADV MICRO DEVICE	$28,502,000	–	303,436	–	0.60%	–
NXPI	New	NXP SEMICONDUCTO	$28,118,000	–	136,679	–	0.59%	–
OUT	New	OUTFRONT MEDIA Ireit	$27,259,000	–	1,134,352	–	0.58%	–
EEM	New	ISHARES MSCI EMEetp	$25,245,000	–	457,752	–	0.53%	–
EEFT	New	EURONET WORLDWID	$25,051,000	–	185,079	–	0.53%	–
JMIA	New	JUMIA TECHNO-ADRadr	$25,025,000	–	825,084	–	0.53%	–
MU	New	MICRON TECH	$24,632,000	–	289,858	–	0.52%	–
HTHT	New	HUAZHU GROUP-ADRadr	$23,780,000	–	450,288	–	0.50%	–
RJF	New	RAYMOND JAMES	$22,455,000	–	172,862	–	0.48%	–
LAZ	New	LAZARD LTD-CL A	$21,059,000	–	465,393	–	0.44%	–
BK	New	BANK NY MELLON	$20,367,000	–	397,553	–	0.43%	–
SSYS	New	STRATASYS LTD	$20,360,000	–	787,317	–	0.43%	–
KRE	New	SPDR S&P REG BANetp	$19,921,000	–	303,997	–	0.42%	–
LI	New	LI AUTO INC -ADRadr	$17,596,000	–	503,625	–	0.37%	–
DNB	New	DUN & BRADSTREET	$16,861,000	–	789,037	–	0.36%	–
PRG	New	PROG HOLDINGS IN	$16,646,000	–	345,851	–	0.35%	–
WING	New	WINGSTOP INC	$16,262,000	–	103,167	–	0.34%	–
AMBA	New	AMBARELLA INC	$16,068,000	–	150,690	–	0.34%	–
RLX	New	RLX TECHNOLO-ADRadr	$15,243,000	–	1,746,025	–	0.32%	–
FXI	New	ISHARES CHINA LAetp	$15,054,000	–	324,932	–	0.32%	–
XLF	New	SPDR-FINL SELECTetp	$15,012,000	–	409,165	–	0.32%	–
NCLH	New	NORWEGIAN CRUISE	$14,711,000	–	500,201	–	0.31%	–
KC	New	KINGSOFT CLO-ADRadr	$13,846,000	–	408,075	–	0.29%	–
EVR	New	EVERCORE INC	$12,820,000	–	91,067	–	0.27%	–
QFIN	New	360 DIGITECH INCadr	$10,627,000	–	254,009	–	0.22%	–
LU	New	LUFAX HOLDIN-ADRadr	$10,220,000	–	904,464	–	0.22%	–
BILI	New	BILIBILI INC-ADRadr	$10,198,000	–	83,703	–	0.22%	–
BABA	New	ALIBABA GRP-ADRadr	$9,903,000	–	43,666	–	0.21%	–
ALK	New	ALASKA AIR GROUP	$9,060,000	–	150,229	–	0.19%	–
PDD	New	PINDUODUO IN-ADRadr	$8,359,000	–	65,812	–	0.18%	–
IQ	New	IQIYI INC-ADRadr	$6,209,000	–	398,547	–	0.13%	–
XPEV	New	XPENG INC-ADRadr	$4,718,000	–	106,209	–	0.10%	–
BEKE	New	KE HOLDINGS -ADRadr	$4,308,000	–	90,362	–	0.09%	–
IMAB	New	I-MAB-ADRadr	$3,769,000	–	44,893	–	0.08%	–
SE	New	SEA LTD-ADRadr	$3,723,000	–	13,555	–	0.08%	–
ZLAB	New	ZAI LAB LTD-ADRadr	$3,505,000	–	19,801	–	0.07%	–
YSG	New	YATSEN HOLD-ADRadr	$3,037,000	–	324,197	–	0.06%	–
SOL	New	RENESOLA LTD-ADRadr	$2,991,000	–	328,648	–	0.06%	–
BIDU	New	BAIDU INC-SP ADRadr	$2,803,000	–	13,747	–	0.06%	–
FLYW	New	FLYWIRE CORP-VOT	$2,697,000	–	73,408	–	0.06%	–
PTR	New	PETROCHINA -ADRadr	$2,567,000	–	52,351	–	0.05%	–
NOV	New	NOV INC	$2,264,000	–	147,804	–	0.05%	–
BRKB	New	BERKSHIRE HATH-B	$2,201,000	–	7,919	–	0.05%	–
XOM	New	EXXON MOBIL CORP	$2,203,000	–	34,930	–	0.05%	–
CVX	New	CHEVRON CORP	$2,208,000	–	21,082	–	0.05%	–
WMT	New	WALMART INC	$2,246,000	–	15,928	–	0.05%	–
NFLX	New	NETFLIX INC	$2,166,000	–	4,100	–	0.05%	–
TRV	New	TRAVELERS COS IN	$2,190,000	–	14,630	–	0.05%	–
ALGN	New	ALIGN TECHNOLOGY	$2,181,000	–	3,569	–	0.05%	–
GOOG	New	ALPHABET INC-C	$2,173,000	–	867	–	0.05%	–
AZO	New	AUTOZONE INC	$2,188,000	–	1,466	–	0.05%	–
FB	New	FACEBOOK INC-A	$2,161,000	–	6,216	–	0.05%	–
GM	New	GENERAL MOTORS C	$2,200,000	–	37,183	–	0.05%	–
YUMC	New	YUM CHINA HO	$1,701,000	–	25,679	–	0.04%	–
CX	New	CEMEX SAB-SP ADRadr	$1,521,000	–	181,052	–	0.03%	–
HCM	New	HUTCHMED CHI-ADRadr	$1,305,000	–	33,243	–	0.03%	–
LFC	New	CHINA LIFE-ADRadr	$1,144,000	–	115,007	–	0.02%	–
BTNB	New	BRIDGETOWN 2 H-A	$1,016,000	–	99,600	–	0.02%	–
ATHM	New	AUTOHOME INC-ADRadr	$835,000	–	13,050	–	0.02%	–
WIMI	New	WIMI HOLOGRAM-ADadr	$837,000	–	152,405	–	0.02%	–
VALE	New	VALE SA-SP ADRadr	$853,000	–	37,402	–	0.02%	–
TX	New	TERNIUM SA-ADRadr	$873,000	–	22,687	–	0.02%	–
DQ	New	DAQO NEW ENE-ADRadr	$806,000	–	12,398	–	0.02%	–
MELI	New	MERCADOLIBRE INC	$821,000	–	527	–	0.02%	–
FMX	New	FOMENTO ECON-ADRadr	$701,000	–	8,295	–	0.02%	–
PVU	New	PRIMAVERA CAPITAunit	$694,000	–	68,182	–	0.02%	–
NTES	New	NETEASE INC-ADRadr	$629,000	–	5,457	–	0.01%	–
BTWNU	New	BRIDGETOWN HOLDIunit	$564,000	–	52,289	–	0.01%	–
NIO	New	NIO INC - ADRadr	$542,000	–	10,195	–	0.01%	–
SNP	New	CHINA PETRO-ADRadr	$448,000	–	8,773	–	0.01%	–
MFC	New	MANULIFE FIN	$409,000	–	20,900	–	0.01%	–
PAGS	New	PAGSEGURO DIGI-A	$430,000	–	7,689	–	0.01%	–
AZUL	New	AZUL SA-ADRadr	$388,000	–	14,706	–	0.01%	–
BZ	New	KANZHUN LTDadr	$368,000	–	9,261	–	0.01%	–
VLRS	New	CONTROLADORA-ADRadr	$346,000	–	18,009	–	0.01%	–
NIU	New	NIU TECHNOLO-ADRadr	$331,000	–	10,153	–	0.01%	–
STNE	New	STONECO LTD-A	$281,000	–	4,183	–	0.01%	–
EH	New	EHANG HOLDINGSadr	$259,000	–	6,020	–	0.01%	–
BTBT	New	BIT DIGITAL INC	$223,000	–	32,610	–	0.01%	–
ALAC	New	ALBERTON ACQUISI	$117,000	–	10,479	–	0.00%	–
QD	New	QUDIAN INC-SPONadr	$45,000	–	18,527	–	0.00%	–
FAMI	New	FARMMI INC	$21,000	–	46,511	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
QD	Exit	QUDIAN INC-SPONadr	$0	–	-35,784	–	-0.00%	–
VALE	Exit	VALE SA-SP ADRadr	$0	–	-16,314	–	-0.00%	–
CO	Exit	GLOBAL CORD BLOO	$0	–	-46,613	–	-0.00%	–
FLR	Exit	FLUOR CORP	$0	–	-17,203	–	-0.00%	–
ATHM	Exit	AUTOHOME INC-ADRadr	$0	–	-2,914	–	-0.01%	–
WERN	Exit	WERNER ENT	$0	–	-6,508	–	-0.01%	–
TGH	Exit	TEXTAINER GROUP	$0	–	-19,618	–	-0.01%	–
PAND	Exit	PANDION THERAPEU	$0	–	-27,476	–	-0.01%	–
VNOM	Exit	VIPER ENERGY PAR	$0	–	-40,800	–	-0.01%	–
CYD	Exit	CHINA YUCHAI	$0	–	-22,623	–	-0.01%	–
NRIX	Exit	NURIX THERAPEUTI	$0	–	-13,906	–	-0.01%	–
ORCL	Exit	ORACLE CORP	$0	–	-9,763	–	-0.01%	–
CHA	Exit	CHINA TELECO-ADRadr	$0	–	-24,483	–	-0.02%	–
HIMX	Exit	HIMAX TECHNO-ADRadr	$0	–	-216,718	–	-0.02%	–
AGIO	Exit	AGIOS PHARMACEUT	$0	–	-22,405	–	-0.02%	–
NET	Exit	CLOUDFLARE INC-A	$0	–	-19,007	–	-0.02%	–
CTVA	Exit	CORTEVA INC	$0	–	-29,900	–	-0.02%	–
WTRH	Exit	WAITR HOLDINGS I	$0	–	-276,207	–	-0.02%	–
BZUN	Exit	BAOZUN INC-ADRadr	$0	–	-27,496	–	-0.02%	–
CHU	Exit	CHINA UNICOM-ADRadr	$0	–	-148,233	–	-0.02%	–
BILL	Exit	BILL.COM HOLDING	$0	–	-10,547	–	-0.02%	–
CAH	Exit	CARDINAL HEALTH	$0	–	-22,751	–	-0.02%	–
MFC	Exit	MANULIFE FIN	$0	–	-86,700	–	-0.03%	–
JKS	Exit	JINKOSOLAR-ADRadr	$0	–	-31,710	–	-0.03%	–
HOLI	Exit	HOLLYSYS AUTOMAT	$0	–	-119,212	–	-0.03%	–
NOAH	Exit	NOAH HOLDING-ADSadr	$0	–	-50,999	–	-0.03%	–
HLNE	Exit	HAMILTON LANE-A	$0	–	-22,187	–	-0.03%	–
BIDU	Exit	BAIDU INC-SP ADRadr	$0	–	-11,770	–	-0.03%	–
BNR	Exit	BURNING ROCK-ADRadr	$0	–	-64,171	–	-0.04%	–
ASX	Exit	ASE TECHN-ADRadr	$0	–	-395,510	–	-0.04%	–
RGR	Exit	STURM RUGER & CO	$0	–	-31,417	–	-0.04%	–
DISCK	Exit	DISCOVERY INC-C	$0	–	-97,820	–	-0.04%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-22,568	–	-0.04%	–
QRTEA	Exit	QURATE RETAIL-A	$0	–	-302,976	–	-0.05%	–
BAH	Exit	BOOZ ALLEN HAMIL	$0	–	-25,967	–	-0.05%	–
BRKB	Exit	BERKSHIRE HATH-B	$0	–	-10,394	–	-0.05%	–
ALK	Exit	ALASKA AIR GROUP	$0	–	-59,653	–	-0.05%	–
AAPL	Exit	APPLE INC	$0	–	-19,173	–	-0.05%	–
JNJ	Exit	JOHNSON&JOHNSON	$0	–	-14,874	–	-0.05%	–
MMM	Exit	3M CO	$0	–	-13,688	–	-0.05%	–
TFX	Exit	TELEFLEX INC	$0	–	-6,519	–	-0.05%	–
CBPO	Exit	CHINA BIOLOGIC P	$0	–	-22,344	–	-0.06%	–
PTR	Exit	PETROCHINA -ADRadr	$0	–	-83,425	–	-0.06%	–
KC	Exit	KINGSOFT CLO-ADRadr	$0	–	-104,180	–	-0.07%	–
CEO	Exit	CNOOC LTD-ADRadr	$0	–	-35,041	–	-0.08%	–
BEKE	Exit	KE HOLDINGS INCadr	$0	–	-67,318	–	-0.10%	–
SIMO	Exit	SILICON MOTI-ADRadr	$0	–	-110,131	–	-0.10%	–
CHL	Exit	CHINA MOBILE-ADRadr	$0	–	-141,066	–	-0.10%	–
MLCO	Exit	MELCO RESO-ADRadr	$0	–	-282,507	–	-0.11%	–
SNP	Exit	CHINA PETRO-ADRadr	$0	–	-133,448	–	-0.12%	–
PDD	Exit	PINDUODUO INCadr	$0	–	-88,026	–	-0.15%	–
ZTO	Exit	ZTO EXPRESS -ADRadr	$0	–	-263,743	–	-0.18%	–
BABA	Exit	ALIBABA GRP-ADRadr	$0	–	-27,619	–	-0.19%	–
UBS	Exit	UBS GROUP AG	$0	–	-793,180	–	-0.21%	–
DHI	Exit	DR HORTON INC	$0	–	-118,171	–	-0.21%	–
LEN	Exit	LENNAR CORP-A	$0	–	-111,194	–	-0.21%	–
RKT	Exit	ROCKET COS INC-A	$0	–	-480,397	–	-0.22%	–
QRVO	Exit	QORVO INC	$0	–	-79,608	–	-0.24%	–
MKTX	Exit	MARKETAXESS	$0	–	-23,396	–	-0.26%	–
EDU	Exit	NEW ORIENTAL-ADRadr	$0	–	-101,144	–	-0.35%	–
TSM	Exit	TAIWAN SEMIC-ADRadr	$0	–	-208,979	–	-0.39%	–
SE	Exit	SEA LTD-ADRadr	$0	–	-113,240	–	-0.40%	–
MCD	Exit	MCDONALDS CORP	$0	–	-80,007	–	-0.41%	–
MSCI	Exit	MSCI INC	$0	–	-51,619	–	-0.43%	–
HUYA	Exit	HUYA INC-ADRadr	$0	–	-789,078	–	-0.44%	–
RDN	Exit	RADIAN GROUP INC	$0	–	-1,313,052	–	-0.44%	–
TRU	Exit	TRANSUNION	$0	–	-250,975	–	-0.49%	–
MMYT	Exit	MAKEMYTRIP LTD	$0	–	-1,399,055	–	-0.50%	–
MTG	Exit	MGIC INVT CORP	$0	–	-2,515,645	–	-0.52%	–
TCOM	Exit	TRIP.COM GRO-ADRadr	$0	–	-744,645	–	-0.54%	–
KSU	Exit	KANSAS CITY SOUT	$0	–	-128,224	–	-0.54%	–
HTHT	Exit	HUAZHU GROUP LTDadr	$0	–	-557,089	–	-0.56%	–
DFS	Exit	DISCOVER FINANCI	$0	–	-436,558	–	-0.58%	–
C	Exit	CITIGROUP INC	$0	–	-599,661	–	-0.60%	–
VRNS	Exit	VARONIS SYSTEMS	$0	–	-226,444	–	-0.60%	–
CPA	Exit	COPA HOLDIN-CL A	$0	–	-537,996	–	-0.63%	–
MU	Exit	MICRON TECH	$0	–	-593,394	–	-0.64%	–
RAMP	Exit	LIVERAMP HOLDING	$0	–	-538,527	–	-0.64%	–
EQIX	Exit	EQUINIX INCreit	$0	–	-38,410	–	-0.68%	–
MA	Exit	MASTERCARD INC-A	$0	–	-87,004	–	-0.68%	–
FICO	Exit	FAIR ISAAC CORP	$0	–	-71,364	–	-0.70%	–
BKNG	Exit	BOOKING HOLDINGS	$0	–	-18,325	–	-0.72%	–
TTWO	Exit	TAKE-TWO INTERAC	$0	–	-193,505	–	-0.74%	–
IBKR	Exit	INTERACTIVE BROK	$0	–	-695,278	–	-0.78%	–
EV	Exit	EATON VANCE CORP	$0	–	-931,307	–	-0.82%	–
CFG	Exit	CITIZENS FINANCI	$0	–	-1,407,500	–	-0.82%	–
AVGO	Exit	BROADCOM INC	$0	–	-100,553	–	-0.85%	–
DELL	Exit	DELL TECHN-C	$0	–	-544,218	–	-0.85%	–
LVS	Exit	LAS VEGAS SANDS	$0	–	-838,657	–	-0.90%	–
AGR	Exit	AVANGRID INC	$0	–	-783,163	–	-0.91%	–
LUV	Exit	SOUTHWEST AIR	$0	–	-1,070,450	–	-0.93%	–
COO	Exit	COOPER COS INC	$0	–	-119,384	–	-0.93%	–
BC	Exit	BRUNSWICK CORP	$0	–	-696,024	–	-0.95%	–
FCAU	Exit	FIAT CHRYSLER AU	$0	–	-3,393,749	–	-0.96%	–
NEE	Exit	NEXTERA ENERGY	$0	–	-154,002	–	-0.99%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-40,258	–	-1.01%	–
GS	Exit	GOLDMAN SACHS GP	$0	–	-219,264	–	-1.02%	–
YUMC	Exit	YUM CHINA HOLDIN	$0	–	-967,808	–	-1.17%	–
TT	Exit	TRANE TECHNOLOGI	$0	–	-419,864	–	-1.18%	–
CARR	Exit	CARRIER GLOB	$0	–	-1,721,173	–	-1.22%	–
GOOGL	Exit	ALPHABET INC-A	$0	–	-36,436	–	-1.24%	–
DAR	Exit	DARLING INGREDIE	$0	–	-1,542,064	–	-1.28%	–
MCO	Exit	MOODY'S CORP	$0	–	-192,330	–	-1.29%	–
AAN	Exit	AARON'S INC	$0	–	-1,004,665	–	-1.32%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-277,033	–	-1.35%	–
MRVL	Exit	MARVELL TECH GRP	$0	–	-1,481,878	–	-1.36%	–
DD	Exit	DUPONT DE NEMOUR	$0	–	-1,093,583	–	-1.40%	–
MSGE	Exit	MADISON SQUARE G	$0	–	-892,141	–	-1.41%	–
FIS	Exit	FIDELITY NATIONA	$0	–	-422,230	–	-1.44%	–
LPLA	Exit	LPL FINANCIAL HO	$0	–	-875,228	–	-1.55%	–
VMW	Exit	VMWARE INC-CL A	$0	–	-477,755	–	-1.59%	–
BK	Exit	BANK NY MELLON	$0	–	-2,250,168	–	-1.79%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-689,212	–	-1.82%	–
PYPL	Exit	PAYPAL HOLDINGS	$0	–	-401,258	–	-1.83%	–
JPM	Exit	JP MORGAN CHASE	$0	–	-888,895	–	-1.98%	–
URI	Exit	UNITED RENTALS	$0	–	-504,743	–	-2.04%	–
UNP	Exit	UNION PAC CORP	$0	–	-448,660	–	-2.04%	–
ROKU	Exit	ROKU INC	$0	–	-516,654	–	-2.26%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-1,034,341	–	-2.26%	–
ENTG	Exit	ENTEGRIS INC	$0	–	-1,328,141	–	-2.28%	–
AMZN	Exit	AMAZON.COM INC	$0	–	-33,748	–	-2.46%	–
MSGS	Exit	MADISON SQUARE G	$0	–	-833,770	–	-2.90%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-656,160	–	-3.25%	–
LIN	Exit	LINDE PLC	$0	–	-609,511	–	-3.36%	–
OTIS	Exit	OTIS WORLDWI	$0	–	-2,429,961	–	-3.51%	–
ICE	Exit	INTERCONTINENTAL	$0	–	-1,758,803	–	-4.07%	–
SYF	Exit	SYNCHRONY FINANC	$0	–	-7,103,799	–	-4.30%	–
IAA	Exit	IAA INC	$0	–	-3,632,272	–	-4.37%	–
MS	Exit	MORGAN STANLEY	$0	–	-4,501,332	–	-5.03%	–

Q3 2020

			Value		Shares		↓ Weighting
MS	Buy	MORGAN STANLEY	$217,639,000	+31.1%	4,501,332	+30.9%	5.03%	+36.9%
IAA	Sell	IAA INC	$189,133,000	+11.7%	3,632,272	-17.2%	4.37%	+16.7%
SYF	Buy	SYNCHRONY FINANC	$185,907,000	+94.1%	7,103,799	+64.4%	4.30%	+102.9%
ICE	Buy	INTERCONTINENTAL	$175,969,000	+24.3%	1,758,803	+13.8%	4.07%	+29.9%
OTIS	Sell	OTIS WORLDWI	$151,678,000	-29.7%	2,429,961	-35.9%	3.51%	-26.5%
LIN	Sell	LINDE PLC	$145,142,000	+0.8%	609,511	-10.2%	3.36%	+5.3%
NSC	Sell	NORFOLK SOUTHERN	$140,412,000	-4.0%	656,160	-21.3%	3.25%	+0.3%
MSGS	Buy	MADISON SQUARE G	$125,465,000	+2.6%	833,770	+0.2%	2.90%	+7.2%
AMZN	Sell	AMAZON.COM INC	$106,263,000	-5.9%	33,748	-17.5%	2.46%	-1.6%
ENTG	Sell	ENTEGRIS INC	$98,733,000	-35.0%	1,328,141	-48.3%	2.28%	-32.1%
PGR	Sell	PROGRESSIVE CORP	$97,921,000	-55.2%	1,034,341	-62.1%	2.26%	-53.2%
ROKU	New	ROKU INC	$97,545,000	–	516,654	–	2.26%	–
UNP	Sell	UNION PAC CORP	$88,328,000	-11.2%	448,660	-23.7%	2.04%	-7.2%
URI	Sell	UNITED RENTALS	$88,078,000	-17.6%	504,743	-29.6%	2.04%	-13.9%
JPM	New	JP MORGAN CHASE	$85,574,000	–	888,895	–	1.98%	–
PYPL	Sell	PAYPAL HOLDINGS	$79,060,000	-23.2%	401,258	-32.1%	1.83%	-19.8%
TMUS	Buy	T-MOBILE US INC	$78,818,000	+695.0%	689,212	+624.0%	1.82%	+732.0%
BK	Sell	BANK NY MELLON	$77,271,000	-18.7%	2,250,168	-8.5%	1.79%	-15.1%
VMW	Buy	VMWARE INC-CL A	$68,639,000	+24.8%	477,755	+34.5%	1.59%	+30.4%
LPLA	Buy	LPL FINANCIAL HO	$67,104,000	+17.7%	875,228	+20.4%	1.55%	+23.0%
FIS	Sell	FIDELITY NATIONA	$62,157,000	-11.5%	422,230	-19.4%	1.44%	-7.6%
MSGE	Buy	MADISON SQUARE G	$61,103,000	-8.5%	892,141	+0.2%	1.41%	-4.4%
DD	New	DUPONT DE NEMOUR	$60,672,000	–	1,093,583	–	1.40%	–
MRVL	Buy	MARVELL TECH GRP	$58,831,000	+33.7%	1,481,878	+18.1%	1.36%	+39.6%
MSFT	Sell	MICROSOFT CORP	$58,269,000	-48.9%	277,033	-50.6%	1.35%	-46.7%
AAN	New	AARON'S INC	$56,914,000	–	1,004,665	–	1.32%	–
MCO	Sell	MOODY'S CORP	$55,747,000	-54.4%	192,330	-56.8%	1.29%	-52.4%
DAR	New	DARLING INGREDIE	$55,561,000	–	1,542,064	–	1.28%	–
GOOGL	New	ALPHABET INC-A	$53,401,000	–	36,436	–	1.24%	–
CARR	Sell	CARRIER GLOB	$52,564,000	-31.9%	1,721,173	-50.5%	1.22%	-28.9%
TT	Sell	TRANE TECHNOLOGI	$50,909,000	-11.5%	419,864	-35.1%	1.18%	-7.5%
YUMC	New	YUM CHINA HOLDIN	$50,631,000	–	967,808	–	1.17%	–
GS	New	GOLDMAN SACHS GP	$44,066,000	–	219,264	–	1.02%	–
MELI	Sell	MERCADOLIBRE INC	$43,578,000	-0.2%	40,258	-9.1%	1.01%	+4.3%
NEE	Sell	NEXTERA ENERGY	$42,745,000	-18.4%	154,002	-29.4%	0.99%	-14.8%
FCAU	New	FIAT CHRYSLER AU	$41,676,000	–	3,393,749	–	0.96%	–
BC	Sell	BRUNSWICK CORP	$41,003,000	-41.7%	696,024	-36.6%	0.95%	-39.0%
COO	Sell	COOPER COS INC	$40,247,000	-7.6%	119,384	-22.2%	0.93%	-3.4%
LUV	Sell	SOUTHWEST AIR	$40,142,000	-56.1%	1,070,450	-60.0%	0.93%	-54.1%
AGR	Sell	AVANGRID INC	$39,518,000	-23.1%	783,163	-36.0%	0.91%	-19.6%
LVS	New	LAS VEGAS SANDS	$39,132,000	–	838,657	–	0.90%	–
DELL	Buy	DELL TECHN-C	$36,838,000	+70.7%	544,218	+38.6%	0.85%	+78.2%
AVGO	Buy	BROADCOM INC	$36,633,000	+126.2%	100,553	+96.0%	0.85%	+136.6%
CFG	Sell	CITIZENS FINANCI	$35,582,000	-3.5%	1,407,500	-3.6%	0.82%	+0.9%
EV	Buy	EATON VANCE CORP	$35,529,000	+25.6%	931,307	+27.1%	0.82%	+31.3%
IBKR	Buy	INTERACTIVE BROK	$33,602,000	+99.0%	695,278	+72.0%	0.78%	+107.8%
TTWO	Buy	TAKE-TWO INTERAC	$31,971,000	+51.6%	193,505	+28.1%	0.74%	+58.2%
BKNG	New	BOOKING HOLDINGS	$31,347,000	–	18,325	–	0.72%	–
FICO	Sell	FAIR ISAAC CORP	$30,357,000	-85.8%	71,364	-86.1%	0.70%	-85.2%
MA	Sell	MASTERCARD INC-A	$29,422,000	-47.7%	87,004	-54.3%	0.68%	-45.4%
EQIX	Sell	EQUINIX INCreit	$29,197,000	-12.6%	38,410	-19.2%	0.68%	-8.7%
RAMP	New	LIVERAMP HOLDING	$27,879,000	–	538,527	–	0.64%	–
MU	Sell	MICRON TECH	$27,865,000	-61.8%	593,394	-58.1%	0.64%	-60.1%
CPA	Buy	COPA HOLDIN-CL A	$27,082,000	+45.2%	537,996	+45.9%	0.63%	+51.6%
VRNS	New	VARONIS SYSTEMS	$26,136,000	–	226,444	–	0.60%	–
C	Sell	CITIGROUP INC	$25,851,000	-78.9%	599,661	-75.0%	0.60%	-78.0%
DFS	New	DISCOVER FINANCI	$25,224,000	–	436,558	–	0.58%	–
HTHT	New	HUAZHU GROUP LTDadr	$24,089,000	–	557,089	–	0.56%	–
TCOM	New	TRIP.COM GRO-ADRadr	$23,189,000	–	744,645	–	0.54%	–
KSU	New	KANSAS CITY SOUT	$23,187,000	–	128,224	–	0.54%	–
MTG	Buy	MGIC INVT CORP	$22,288,000	+106.9%	2,515,645	+91.3%	0.52%	+116.4%
MMYT	Buy	MAKEMYTRIP LTD	$21,490,000	+0.4%	1,399,055	+0.1%	0.50%	+4.9%
TRU	New	TRANSUNION	$21,115,000	–	250,975	–	0.49%	–
RDN	Buy	RADIAN GROUP INC	$19,183,000	+111.3%	1,313,052	+124.3%	0.44%	+120.9%
HUYA	New	HUYA INC-ADRadr	$18,899,000	–	789,078	–	0.44%	–
MSCI	Sell	MSCI INC	$18,417,000	-79.8%	51,619	-81.1%	0.43%	-78.9%
MCD	New	MCDONALDS CORP	$17,561,000	–	80,007	–	0.41%	–
SE	Buy	SEA LTD-ADRadr	$17,444,000	+925.5%	113,240	+614.0%	0.40%	+960.5%
TSM	Sell	TAIWAN SEMIC-ADRadr	$16,942,000	-59.9%	208,979	-71.9%	0.39%	-58.1%
EDU	Buy	NEW ORIENTAL-ADRadr	$15,121,000	+153.8%	101,144	+121.1%	0.35%	+165.2%
MKTX	New	MARKETAXESS	$11,268,000	–	23,396	–	0.26%	–
QRVO	Buy	QORVO INC	$10,270,000	+470.6%	79,608	+388.7%	0.24%	+492.5%
RKT	New	ROCKET COS INC-A	$9,574,000	–	480,397	–	0.22%	–
LEN	New	LENNAR CORP-A	$9,083,000	–	111,194	–	0.21%	–
DHI	Sell	DR HORTON INC	$8,937,000	-84.5%	118,171	-88.6%	0.21%	-83.7%
UBS	Sell	UBS GROUP AG	$8,892,000	-75.0%	793,180	-74.4%	0.21%	-73.9%
BABA	Buy	ALIBABA GRP-ADRadr	$8,119,000	+58.0%	27,619	+15.9%	0.19%	+64.9%
ZTO	New	ZTO EXPRESS -ADRadr	$7,891,000	–	263,743	–	0.18%	–
PDD	Sell	PINDUODUO INCadr	$6,527,000	-93.6%	88,026	-92.6%	0.15%	-93.3%
SNP	New	CHINA PETRO-ADRadr	$5,399,000	–	133,448	–	0.12%	–
MLCO	New	MELCO RESO-ADRadr	$4,704,000	–	282,507	–	0.11%	–
CHL	Buy	CHINA MOBILE-ADRadr	$4,537,000	+23.4%	141,066	+29.0%	0.10%	+29.6%
SIMO	Buy	SILICON MOTI-ADRadr	$4,161,000	+96.7%	110,131	+153.9%	0.10%	+104.3%
BEKE	New	KE HOLDINGS INCadr	$4,126,000	–	67,318	–	0.10%	–
CEO	Sell	CNOOC LTD-ADRadr	$3,366,000	-19.7%	35,041	-5.7%	0.08%	-16.1%
KC	Buy	KINGSOFT CLO-ADRadr	$3,076,000	+102.0%	104,180	+115.6%	0.07%	+108.8%
CBPO	New	CHINA BIOLOGIC P	$2,483,000	–	22,344	–	0.06%	–
PTR	New	PETROCHINA -ADRadr	$2,456,000	–	83,425	–	0.06%	–
JNJ	Buy	JOHNSON&JOHNSON	$2,214,000	+25.1%	14,874	+18.2%	0.05%	+30.8%
AAPL	Buy	APPLE INC	$2,220,000	+136.4%	19,173	+644.9%	0.05%	+142.9%
BRKB	New	BERKSHIRE HATH-B	$2,213,000	–	10,394	–	0.05%	–
ALK	New	ALASKA AIR GROUP	$2,185,000	–	59,653	–	0.05%	–
MMM	New	3M CO	$2,193,000	–	13,688	–	0.05%	–
TFX	New	TELEFLEX INC	$2,219,000	–	6,519	–	0.05%	–
QRTEA	New	QURATE RETAIL-A	$2,175,000	–	302,976	–	0.05%	–
BAH	New	BOOZ ALLEN HAMIL	$2,155,000	–	25,967	–	0.05%	–
SBUX	New	STARBUCKS CORP	$1,939,000	–	22,568	–	0.04%	–
RGR	New	STURM RUGER & CO	$1,921,000	–	31,417	–	0.04%	–
DISCK	New	DISCOVERY INC-C	$1,917,000	–	97,820	–	0.04%	–
ASX	Buy	ASE TECHN-ADRadr	$1,614,000	+650.7%	395,510	+733.4%	0.04%	+640.0%
BNR	New	BURNING ROCK-ADRadr	$1,609,000	–	64,171	–	0.04%	–
BIDU	New	BAIDU INC-SP ADRadr	$1,490,000	–	11,770	–	0.03%	–
HLNE	New	HAMILTON LANE-A	$1,433,000	–	22,187	–	0.03%	–
NOAH	New	NOAH HOLDING-ADSadr	$1,330,000	–	50,999	–	0.03%	–
HOLI	New	HOLLYSYS AUTOMAT	$1,317,000	–	119,212	–	0.03%	–
JKS	New	JINKOSOLAR-ADRadr	$1,261,000	–	31,710	–	0.03%	–
MFC	Sell	MANULIFE FIN	$1,197,000	-32.3%	86,700	-34.9%	0.03%	-28.2%
CAH	New	CARDINAL HEALTH	$1,068,000	–	22,751	–	0.02%	–
CHU	Buy	CHINA UNICOM-ADRadr	$969,000	+23.1%	148,233	+2.6%	0.02%	+29.4%
WTRH	New	WAITR HOLDINGS I	$889,000	–	276,207	–	0.02%	–
BZUN	New	BAOZUN INC-ADRadr	$893,000	–	27,496	–	0.02%	–
CTVA	New	CORTEVA INC	$861,000	–	29,900	–	0.02%	–
HIMX	Buy	HIMAX TECHNO-ADRadr	$772,000	+20.2%	216,718	+39.8%	0.02%	+28.6%
AGIO	New	AGIOS PHARMACEUT	$784,000	–	22,405	–	0.02%	–
NET	New	CLOUDFLARE INC-A	$780,000	–	19,007	–	0.02%	–
CHA	Buy	CHINA TELECO-ADRadr	$735,000	+82.4%	24,483	+70.6%	0.02%	+88.9%
ORCL	New	ORACLE CORP	$583,000	–	9,763	–	0.01%	–
NRIX	New	NURIX THERAPEUTI	$485,000	–	13,906	–	0.01%	–
CYD	New	CHINA YUCHAI	$407,000	–	22,623	–	0.01%	–
VNOM	New	VIPER ENERGY PAR	$307,000	–	40,800	–	0.01%	–
PAND	New	PANDION THERAPEU	$315,000	–	27,476	–	0.01%	–
TGH	New	TEXTAINER GROUP	$278,000	–	19,618	–	0.01%	–
WERN	New	WERNER ENT	$273,000	–	6,508	–	0.01%	–
ATHM	New	AUTOHOME INC-ADRadr	$280,000	–	2,914	–	0.01%	–
FLR	New	FLUOR CORP	$152,000	–	17,203	–	0.00%	–
VALE	New	VALE SA-SP ADRadr	$173,000	–	16,314	–	0.00%	–
CO	New	GLOBAL CORD BLOO	$165,000	–	46,613	–	0.00%	–
QD	New	QUDIAN INC-SPONadr	$44,000	–	35,784	–	0.00%	–
FTNT	Exit	FORTINET INC	$0	–	-1,639	–	-0.01%	–
MOMO	Exit	MOMO INC-ADRadr	$0	–	-14,566	–	-0.01%	–
BSX	Exit	BOSTON SCIENTIFC	$0	–	-10,261	–	-0.01%	–
COTY	Exit	COTY INC-CL A	$0	–	-115,985	–	-0.01%	–
TRGP	Exit	TARGA RESOURCES	$0	–	-29,280	–	-0.01%	–
GOTU	Exit	GSX TECHEDU-ADRadr	$0	–	-9,874	–	-0.01%	–
HCM	Exit	HUTCHISON CH-ADRadr	$0	–	-23,139	–	-0.01%	–
BILI	Exit	BILIBILI INC-ADRadr	$0	–	-14,896	–	-0.02%	–
NIO	Exit	NIO INC - ADRadr	$0	–	-90,988	–	-0.02%	–
ESLT	Exit	ELBIT SYSTEMS	$0	–	-5,647	–	-0.02%	–
VFC	Exit	VF CORP	$0	–	-13,625	–	-0.02%	–
TAL	Exit	TAL EDUCATIO-ADRadr	$0	–	-16,983	–	-0.03%	–
PII	Exit	POLARIS INC	$0	–	-18,430	–	-0.04%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-18,682	–	-0.04%	–
HWM	Exit	HOWMET AEROSPACE	$0	–	-107,890	–	-0.04%	–
NFLX	Exit	NETFLIX INC	$0	–	-3,912	–	-0.04%	–
V	Exit	VISA INC-CLASS A	$0	–	-9,144	–	-0.04%	–
BMY	Exit	BRISTOL-MYER SQB	$0	–	-30,276	–	-0.04%	–
HSIC	Exit	HENRY SCHEIN INC	$0	–	-30,141	–	-0.04%	–
AME	Exit	AMETEK INC	$0	–	-19,861	–	-0.04%	–
VRSN	Exit	VERISIGN INC	$0	–	-8,574	–	-0.04%	–
INTC	Exit	INTEL CORP	$0	–	-30,032	–	-0.04%	–
LNC	Exit	LINCOLN NATL CRP	$0	–	-48,964	–	-0.04%	–
HFC	Exit	HOLLYFRONTIER CO	$0	–	-61,511	–	-0.04%	–
API	Exit	AGORA INC-ADRadr	$0	–	-172,005	–	-0.17%	–
VNET	Exit	21VIANET-ADRadr	$0	–	-336,800	–	-0.18%	–
ADP	Exit	AUTOMATIC DATA	$0	–	-76,130	–	-0.25%	–
DOCU	Exit	DOCUSIGN INC	$0	–	-68,907	–	-0.26%	–
GDS	Exit	GDS HLDGS - ADRadr	$0	–	-158,004	–	-0.28%	–
DB	Exit	DEUTSCHE BANK-RG	$0	–	-1,749,083	–	-0.37%	–
ZM	Exit	ZOOM VIDEO COM-A	$0	–	-65,767	–	-0.37%	–
NTNX	Exit	NUTANIX INC - A	$0	–	-837,085	–	-0.44%	–
PCG	Exit	PG&E CORP	$0	–	-2,818,254	–	-0.55%	–
VIPS	Exit	VIPSHOP HOLDINGSadr	$0	–	-1,579,626	–	-0.70%	–
WWE	Exit	WORLD WRESTLIN-A	$0	–	-799,751	–	-0.77%	–
EIX	Exit	EDISON INTL	$0	–	-645,918	–	-0.78%	–
GDX	Exit	VANECK GOLD MNRSetp	$0	–	-1,041,148	–	-0.84%	–
ALC	Exit	ALCON INC	$0	–	-759,365	–	-0.96%	–

Q2 2020

			Value		Shares		↓ Weighting
PGR	New	PROGRESSIVE CORP	$218,794,000	–	2,731,162	–	4.84%	–
OTIS	New	OTIS WORLDWI	$215,688,000	–	3,793,306	–	4.77%	–
FICO	New	FAIR ISAAC CORP	$213,990,000	–	511,888	–	4.74%	–
IAA	New	IAA INC	$169,264,000	–	4,388,457	–	3.75%	–
MS	New	MORGAN STANLEY	$166,058,000	–	3,438,040	–	3.68%	–
ENTG	New	ENTEGRIS INC	$151,837,000	–	2,571,315	–	3.36%	–
NSC	New	NORFOLK SOUTHERN	$146,304,000	–	833,309	–	3.24%	–
LIN	New	LINDE PLC	$144,003,000	–	678,906	–	3.19%	–
ICE	New	INTERCONTINENTAL	$141,575,000	–	1,545,580	–	3.13%	–
C	New	CITIGROUP INC	$122,575,000	–	2,398,734	–	2.71%	–
MSGS	New	MADISON SQUARE G	$122,275,000	–	832,421	–	2.71%	–
MCO	New	MOODY'S CORP	$122,276,000	–	445,080	–	2.71%	–
MSFT	New	MICROSOFT CORP	$114,128,000	–	560,798	–	2.53%	–
AMZN	New	AMAZON.COM INC	$112,885,000	–	40,918	–	2.50%	–
URI	New	UNITED RENTALS	$106,853,000	–	716,944	–	2.36%	–
PYPL	New	PAYPAL HOLDINGS	$102,961,000	–	590,951	–	2.28%	–
PDD	New	PINDUODUO INCadr	$102,126,000	–	1,189,724	–	2.26%	–
UNP	New	UNION PAC CORP	$99,419,000	–	588,041	–	2.20%	–
SYF	New	SYNCHRONY FINANC	$95,766,000	–	4,321,608	–	2.12%	–
BK	New	BANK NY MELLON	$95,067,000	–	2,459,713	–	2.10%	–
LUV	New	SOUTHWEST AIR	$91,403,000	–	2,674,151	–	2.02%	–
MSCI	New	MSCI INC	$91,180,000	–	273,143	–	2.02%	–
CARR	New	CARRIER GLOB	$77,231,000	–	3,475,700	–	1.71%	–
MU	New	MICRON TECH	$72,886,000	–	1,414,727	–	1.61%	–
FIS	New	FIDELITY NATIONA	$70,270,000	–	524,051	–	1.56%	–
BC	New	BRUNSWICK CORP	$70,275,000	–	1,097,878	–	1.56%	–
MSGE	New	MADISON SQUARE G	$66,801,000	–	890,683	–	1.48%	–
TT	New	TRANE TECHNOLOGI	$57,539,000	–	646,647	–	1.27%	–
DHI	New	DR HORTON INC	$57,506,000	–	1,037,087	–	1.27%	–
LPLA	New	LPL FINANCIAL HO	$57,016,000	–	727,235	–	1.26%	–
MA	New	MASTERCARD INC-A	$56,246,000	–	190,213	–	1.24%	–
VMW	New	VMWARE INC-CL A	$55,000,000	–	355,158	–	1.22%	–
NEE	New	NEXTERA ENERGY	$52,394,000	–	218,157	–	1.16%	–
AGR	New	AVANGRID INC	$51,379,000	–	1,223,878	–	1.14%	–
MRVL	New	MARVELL TECH GRP	$44,000,000	–	1,254,988	–	0.97%	–
MELI	New	MERCADOLIBRE INC	$43,667,000	–	44,298	–	0.97%	–
COO	New	COOPER COS INC	$43,551,000	–	153,541	–	0.96%	–
ALC	New	ALCON INC	$43,565,000	–	759,365	–	0.96%	–
TSM	New	TAIWAN SEMIC-ADRadr	$42,240,000	–	744,055	–	0.94%	–
GDX	New	VANECK GOLD MNRSetp	$38,189,000	–	1,041,148	–	0.84%	–
CFG	New	CITIZENS FINANCI	$36,860,000	–	1,460,391	–	0.82%	–
UBS	New	UBS GROUP AG	$35,625,000	–	3,097,754	–	0.79%	–
EIX	New	EDISON INTL	$35,080,000	–	645,918	–	0.78%	–
WWE	New	WORLD WRESTLIN-A	$34,750,000	–	799,751	–	0.77%	–
EQIX	New	EQUINIX INCreit	$33,391,000	–	47,545	–	0.74%	–
VIPS	New	VIPSHOP HOLDINGSadr	$31,450,000	–	1,579,626	–	0.70%	–
EV	New	EATON VANCE CORP	$28,288,000	–	732,830	–	0.63%	–
PCG	New	PG&E CORP	$24,998,000	–	2,818,254	–	0.55%	–
DELL	New	DELL TECHN-C	$21,578,000	–	392,758	–	0.48%	–
MMYT	New	MAKEMYTRIP LTD	$21,402,000	–	1,397,016	–	0.47%	–
TTWO	New	TAKE-TWO INTERAC	$21,083,000	–	151,059	–	0.47%	–
NTNX	New	NUTANIX INC - A	$19,839,000	–	837,085	–	0.44%	–
CPA	New	COPA HOLDIN-CL A	$18,648,000	–	368,838	–	0.41%	–
IBKR	New	INTERACTIVE BROK	$16,887,000	–	404,267	–	0.37%	–
ZM	New	ZOOM VIDEO COM-A	$16,674,000	–	65,767	–	0.37%	–
DB	New	DEUTSCHE BANK-RG	$16,617,000	–	1,749,083	–	0.37%	–
AVGO	New	BROADCOM INC	$16,194,000	–	51,310	–	0.36%	–
GDS	New	GDS HLDGS - ADRadr	$12,587,000	–	158,004	–	0.28%	–
DOCU	New	DOCUSIGN INC	$11,866,000	–	68,907	–	0.26%	–
ADP	New	AUTOMATIC DATA	$11,335,000	–	76,130	–	0.25%	–
MTG	New	MGIC INVT CORP	$10,770,000	–	1,314,965	–	0.24%	–
TMUS	New	T-MOBILE US INC	$9,914,000	–	95,191	–	0.22%	–
RDN	New	RADIAN GROUP INC	$9,079,000	–	585,348	–	0.20%	–
VNET	New	21VIANET-ADRadr	$8,036,000	–	336,800	–	0.18%	–
API	New	AGORA INC-ADRadr	$7,597,000	–	172,005	–	0.17%	–
EDU	New	NEW ORIENTAL-ADRadr	$5,958,000	–	45,746	–	0.13%	–
BABA	New	ALIBABA GRP-ADRadr	$5,140,000	–	23,827	–	0.11%	–
CEO	New	CNOOC LTD-ADRadr	$4,193,000	–	37,157	–	0.09%	–
CHL	New	CHINA MOBILE-ADRadr	$3,678,000	–	109,341	–	0.08%	–
SIMO	New	SILICON MOTI-ADRadr	$2,115,000	–	43,373	–	0.05%	–
QRVO	New	QORVO INC	$1,800,000	–	16,289	–	0.04%	–
LNC	New	LINCOLN NATL CRP	$1,801,000	–	48,964	–	0.04%	–
INTC	New	INTEL CORP	$1,797,000	–	30,032	–	0.04%	–
HFC	New	HOLLYFRONTIER CO	$1,796,000	–	61,511	–	0.04%	–
JNJ	New	JOHNSON&JOHNSON	$1,770,000	–	12,586	–	0.04%	–
NFLX	New	NETFLIX INC	$1,780,000	–	3,912	–	0.04%	–
HSIC	New	HENRY SCHEIN INC	$1,760,000	–	30,141	–	0.04%	–
MFC	New	MANULIFE FIN	$1,769,000	–	133,100	–	0.04%	–
BMY	New	BRISTOL-MYER SQB	$1,780,000	–	30,276	–	0.04%	–
VRSN	New	VERISIGN INC	$1,773,000	–	8,574	–	0.04%	–
V	New	VISA INC-CLASS A	$1,766,000	–	9,144	–	0.04%	–
AME	New	AMETEK INC	$1,775,000	–	19,861	–	0.04%	–
DLTR	New	DOLLAR TREE INC	$1,731,000	–	18,682	–	0.04%	–
PII	New	POLARIS INC	$1,706,000	–	18,430	–	0.04%	–
HWM	New	HOWMET AEROSPACE	$1,710,000	–	107,890	–	0.04%	–
SE	New	SEA LTD-ADRadr	$1,701,000	–	15,859	–	0.04%	–
KC	New	KINGSOFT CLO-ADR LONGadr	$1,523,000	–	48,323	–	0.03%	–
TAL	New	TAL EDUCATIO-ADRadr	$1,162,000	–	16,983	–	0.03%	–
BILL	New	BILL.COM HOLDING	$952,000	–	10,547	–	0.02%	–
AAPL	New	APPLE INC	$939,000	–	2,574	–	0.02%	–
VFC	New	VF CORP	$830,000	–	13,625	–	0.02%	–
ESLT	New	ELBIT SYSTEMS	$773,000	–	5,647	–	0.02%	–
CHU	New	CHINA UNICOM-ADRadr	$787,000	–	144,461	–	0.02%	–
NIO	New	NIO INC - ADRadr	$702,000	–	90,988	–	0.02%	–
BILI	New	BILIBILI INC-ADRadr	$690,000	–	14,896	–	0.02%	–
HCM	New	HUTCHISON CH-ADRadr	$638,000	–	23,139	–	0.01%	–
HIMX	New	HIMAX TECHNO-ADRadr	$642,000	–	155,042	–	0.01%	–
TRGP	New	TARGA RESOURCES	$588,000	–	29,280	–	0.01%	–
GOTU	New	GSX TECHEDU-ADRadr	$592,000	–	9,874	–	0.01%	–
COTY	New	COTY INC-CL A	$518,000	–	115,985	–	0.01%	–
CHA	New	CHINA TELECO-ADRadr	$403,000	–	14,350	–	0.01%	–
BSX	New	BOSTON SCIENTIFC	$360,000	–	10,261	–	0.01%	–
MOMO	New	MOMO INC-ADRadr	$254,000	–	14,566	–	0.01%	–
FTNT	New	FORTINET INC	$225,000	–	1,639	–	0.01%	–
ASX	New	ASE TECHN-ADRadr	$215,000	–	47,459	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
VLO	Exit	VALERO ENERGY	$0	–	-7	–	0.00%	–
PTEN	Exit	PATTERSON-UTI	$0	–	-55	–	0.00%	–
T	Exit	AT&T INC	$0	–	-74	–	0.00%	–
HGV	Exit	HILTON GRAND VAC	$0	–	-21	–	0.00%	–
SABR	Exit	SABRE CORP	$0	–	-901	–	0.00%	–
AA	Exit	ALCOA CORP	$0	–	-6	–	0.00%	–
AWI	Exit	ARMSTRONG WORLD	$0	–	-35	–	0.00%	–
AL	Exit	AIR LEASE C	$0	–	-2	–	0.00%	–
PPL	Exit	PPL CORP	$0	–	-30	–	0.00%	–
NTAP	Exit	NETAPP INC	$0	–	-15	–	0.00%	–
PLAN	Exit	ANAPLAN INC	$0	–	-2	–	0.00%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-93	–	-0.00%	–
IMOS	Exit	CHIPMOS TECH-ADRadr	$0	–	-3,099	–	-0.00%	–
CEO	Exit	CNOOC LTD-ADRadr	$0	–	-230	–	-0.00%	–
QD	Exit	QUDIAN INC-SPONadr	$0	–	-4,388	–	-0.00%	–
GSHHY	Exit	GUANGSHEN RA-ADRadr	$0	–	-2,004	–	-0.00%	–
PPDF	Exit	PPDAI GROUP-ADRadr	$0	–	-17,664	–	-0.00%	–
SINA	Exit	SINA CORP	$0	–	-1,254	–	-0.00%	–
HCM	Exit	HUTCHISON CH-ADRadr	$0	–	-3,976	–	-0.00%	–
UMC	Exit	UNITED MICRO-ADRadr	$0	–	-41,211	–	-0.00%	–
PAGS	Exit	PAGSEGURO DIGI-A	$0	–	-1,896	–	-0.00%	–
HHR	Exit	HEADHUNTER G-ADRadr	$0	–	-3,344	–	-0.00%	–
MIXT	Exit	MIX TELEMATI-ADRadr	$0	–	-6,795	–	-0.00%	–
TSM	Exit	TAIWAN SEMIC-ADRadr	$0	–	-1,381	–	-0.00%	–
CYD	Exit	CHINA YUCHAI	$0	–	-5,875	–	-0.00%	–
AMX	Exit	AMERICA-SPON ADRadr	$0	–	-4,739	–	-0.00%	–
STNE	Exit	STONECO LTD-A	$0	–	-2,882	–	-0.00%	–
TEO	Exit	TELECOM ARGE-ADRadr	$0	–	-6,679	–	-0.00%	–
PTR	Exit	PETROCHINA -ADRadr	$0	–	-2,848	–	-0.00%	–
TGS	Exit	TRANSPORT GA-ADRadr	$0	–	-14,051	–	-0.00%	–
TGH	Exit	TEXTAINER GROUP	$0	–	-11,610	–	-0.00%	–
BSMX	Exit	BANCO SANTA-ADRadr	$0	–	-17,916	–	-0.00%	–
KB	Exit	KB FINANCIAL-ADRadr	$0	–	-3,764	–	-0.00%	–
PHI	Exit	PLDT INC-ADRadr	$0	–	-7,326	–	-0.00%	–
CBD	Exit	PAO ACUCAR-ADRadr	$0	–	-8,008	–	-0.00%	–
BAP	Exit	CREDICORP LTD	$0	–	-741	–	-0.00%	–
CIB	Exit	BANCOLOMBIA-ADRadr	$0	–	-3,440	–	-0.00%	–
ARCE	Exit	ARCO PLATFORM-A	$0	–	-3,584	–	-0.00%	–
WIT	Exit	WIPRO LTD-ADRadr	$0	–	-44,551	–	-0.00%	–
TSU	Exit	TIM PARTICIP-ADRadr	$0	–	-11,634	–	-0.00%	–
VEDL	Exit	VEDANTA LTD-ADRadr	$0	–	-21,499	–	-0.00%	–
CETV	Exit	CENTRAL EURO M-A	$0	–	-47,141	–	-0.01%	–
SSL	Exit	SASOL LTD-SP ADRadr	$0	–	-11,523	–	-0.01%	–
CHU	Exit	CHINA UNICOM-ADRadr	$0	–	-19,395	–	-0.01%	–
TCOM	Exit	TRIP.COM GRO-ADRadr	$0	–	-6,681	–	-0.01%	–
WF	Exit	WOORI FI-ADRadr	$0	–	-6,959	–	-0.01%	–
HDB	Exit	HDFC BANK-ADRadr	$0	–	-4,214	–	-0.01%	–
MBT	Exit	MOBILE TELES-ADRadr	$0	–	-31,330	–	-0.01%	–
BIDU	Exit	BAIDU INC-SP ADRadr	$0	–	-2,701	–	-0.01%	–
CZZ	Exit	COSAN LTD - A	$0	–	-20,956	–	-0.01%	–
CHT	Exit	CHUNGHWA TEL-ADRadr	$0	–	-8,204	–	-0.01%	–
PBR	Exit	PETROBRAS SA-ADRadr	$0	–	-19,519	–	-0.01%	–
SSW	Exit	SEASPAN CORP	$0	–	-31,969	–	-0.01%	–
CHA	Exit	CHINA TELECO-ADRadr	$0	–	-7,363	–	-0.01%	–
MFC	Exit	MANULIFE FIN	$0	–	-20,600	–	-0.01%	–
NOAH	Exit	NOAH HOLDING-ADSadr	$0	–	-13,097	–	-0.01%	–
YNDX	Exit	YANDEX NV-A	$0	–	-13,593	–	-0.01%	–
KOF	Exit	COCA-COLA F-ADRadr	$0	–	-8,244	–	-0.01%	–
WNS	Exit	WNS HOLDINGS-ADRadr	$0	–	-8,983	–	-0.01%	–
FN	Exit	FABRINET	$0	–	-11,262	–	-0.01%	–
MLCO	Exit	MELCO RESO-ADRadr	$0	–	-30,565	–	-0.01%	–
SO	Exit	SOUTHERN CO	$0	–	-9,498	–	-0.01%	–
KT	Exit	KT CORP-ADRadr	$0	–	-66,874	–	-0.02%	–
CBPO	Exit	CHINA BIOLOGIC P	$0	–	-6,631	–	-0.02%	–
HOLI	Exit	HOLLYSYS AUTOMAT	$0	–	-54,530	–	-0.02%	–
ADS	Exit	ALLIANCE DATA	$0	–	-7,537	–	-0.02%	–
RDY	Exit	DR. REDDY'S LABOadr	$0	–	-29,147	–	-0.03%	–
SIMO	Exit	SILICON MOTI-ADRadr	$0	–	-33,734	–	-0.03%	–
PKI	Exit	PERKINELMER INC	$0	–	-18,919	–	-0.04%	–
SEE	Exit	SEALED AIR CORP	$0	–	-44,615	–	-0.04%	–
ENIA	Exit	ENEL AMERICA-ADRadr	$0	–	-223,221	–	-0.05%	–
FLS	Exit	FLOWSERVE CORP	$0	–	-48,998	–	-0.05%	–
BABA	Exit	ALIBABA GRP-ADRadr	$0	–	-13,754	–	-0.06%	–
EEM	Exit	ISHARES MSCI EMEetp	$0	–	-72,895	–	-0.07%	–
ABC	Exit	AMERISOURCEBERGE	$0	–	-37,354	–	-0.07%	–
UPS	Exit	UNITED PARCEL-B	$0	–	-30,974	–	-0.09%	–
LB	Exit	L BRANDS INC	$0	–	-194,530	–	-0.09%	–
SHW	Exit	SHERWIN-WILLIAMS	$0	–	-7,515	–	-0.10%	–
CME	Exit	CME GROUP INC	$0	–	-19,903	–	-0.10%	–
CRM	Exit	SALESFORCE.COM	$0	–	-31,893	–	-0.11%	–
TTWO	Exit	TAKE-TWO INTERAC	$0	–	-37,741	–	-0.11%	–
FB	Exit	FACEBOOK INC-A	$0	–	-27,263	–	-0.12%	–
EA	Exit	ELECTRONIC ARTS	$0	–	-50,112	–	-0.12%	–
GOOGL	Exit	ALPHABET INC-A	$0	–	-4,078	–	-0.12%	–
QRVO	Exit	QORVO INC	$0	–	-67,124	–	-0.12%	–
JBHT	Exit	HUNT (JB) TRANS	$0	–	-45,045	–	-0.12%	–
CELG	Exit	CELGENE CORP	$0	–	-50,581	–	-0.12%	–
XLNX	Exit	XILINX INC	$0	–	-52,110	–	-0.12%	–
F	Exit	FORD MOTOR CO	$0	–	-551,260	–	-0.12%	–
INTC	Exit	INTEL CORP	$0	–	-98,483	–	-0.12%	–
CMG	Exit	CHIPOTLE MEXICAN	$0	–	-6,106	–	-0.12%	–
AAPL	Exit	APPLE INC	$0	–	-22,847	–	-0.12%	–
CONE	Exit	CYRUSONE INCreit	$0	–	-102,724	–	-0.19%	–
ALLY	Exit	ALLY FINANCIAL I	$0	–	-287,382	–	-0.23%	–
COUP	Exit	COUPA SOFTWARE I	$0	–	-78,501	–	-0.24%	–
MTG	Exit	MGIC INVT CORP	$0	–	-927,515	–	-0.28%	–
SBNY	Exit	SIGNATURE BANK	$0	–	-147,618	–	-0.42%	–
RDN	Exit	RADIAN GROUP INC	$0	–	-887,513	–	-0.48%	–
WEX	Exit	WEX INC	$0	–	-103,169	–	-0.50%	–
EEFT	Exit	EURONET WORLDWID	$0	–	-160,103	–	-0.56%	–
CC	Exit	CHEMOURS CO	$0	–	-1,873,935	–	-0.66%	–
TROX	Exit	TRONOX HOLDING-A	$0	–	-3,396,391	–	-0.67%	–
RRR	Exit	RED ROCK RESOR-A	$0	–	-1,426,519	–	-0.69%	–
URI	Exit	UNITED RENTALS	$0	–	-234,628	–	-0.70%	–
RF	Exit	REGIONS FINANCIA	$0	–	-1,885,637	–	-0.71%	–
MMYT	Exit	MAKEMYTRIP LTD	$0	–	-1,341,240	–	-0.72%	–
ENTG	Exit	ENTEGRIS INC	$0	–	-684,783	–	-0.77%	–
EURN	Exit	EURONAV NV	$0	–	-3,608,643	–	-0.79%	–
FUN	Exit	CEDAR FAIR LPmlp	$0	–	-571,733	–	-0.79%	–
ICE	Exit	INTERCONTINENTAL	$0	–	-380,515	–	-0.83%	–
THO	Exit	THOR INDUSTRIES	$0	–	-623,595	–	-0.84%	–
HEI	Exit	HEICO CORP	$0	–	-294,748	–	-0.88%	–
CDNS	Exit	CADENCE DESIGN	$0	–	-621,022	–	-0.98%	–
SQ	Exit	SQUARE INC - A	$0	–	-668,654	–	-0.98%	–
HEIA	Exit	HEICO CORP-A	$0	–	-461,687	–	-1.07%	–
UNP	Exit	UNION PAC CORP	$0	–	-280,705	–	-1.08%	–
SPY	Exit	SPDR S&P 500 ETFetp	$0	–	-162,992	–	-1.15%	–
SNPS	Exit	SYNOPSYS INC	$0	–	-361,623	–	-1.18%	–
CPA	Exit	COPA HOLDIN-CL A	$0	–	-550,823	–	-1.29%	–
MA	Exit	MASTERCARD INC-A	$0	–	-201,696	–	-1.30%	–
KSU	Exit	KANSAS CITY SOUT	$0	–	-412,586	–	-1.30%	–
PEP	Exit	PEPSICO INC	$0	–	-403,711	–	-1.32%	–
H	Exit	HYATT HOTELS-A	$0	–	-752,946	–	-1.32%	–
MDLZ	Exit	MONDELEZ INTER-A	$0	–	-1,004,262	–	-1.32%	–
UTX	Exit	UNITED TECH CORP	$0	–	-407,739	–	-1.32%	–
NTNX	Exit	NUTANIX INC - A	$0	–	-2,127,150	–	-1.33%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-312,361	–	-1.33%	–
SYF	Exit	SYNCHRONY FINANC	$0	–	-1,669,021	–	-1.35%	–
FIS	Exit	FIDELITY NATIONA	$0	–	-446,286	–	-1.41%	–
IAA	Exit	IAA INC	$0	–	-1,455,436	–	-1.44%	–
PDD	Exit	PINDUODUO INCadr	$0	–	-2,037,617	–	-1.56%	–
BC	Exit	BRUNSWICK CORP	$0	–	-1,260,128	–	-1.56%	–
KEYS	Exit	KEYSIGHT TEC	$0	–	-675,736	–	-1.56%	–
ANSS	Exit	ANSYS INC	$0	–	-297,840	–	-1.57%	–
CTVA	Exit	CORTEVA INC	$0	–	-2,404,534	–	-1.60%	–
CFG	Exit	CITIZENS FINANCI	$0	–	-1,962,168	–	-1.65%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-506,673	–	-1.67%	–
MS	Exit	MORGAN STANLEY	$0	–	-1,786,432	–	-1.81%	–
MAR	Exit	MARRIOTT INTL-A	$0	–	-616,645	–	-1.82%	–
ZTS	Exit	ZOETIS INC	$0	–	-617,233	–	-1.83%	–
ETFC	Exit	E TRADE FINANCIA	$0	–	-1,907,408	–	-1.98%	–
RJF	Exit	RAYMOND JAMES	$0	–	-1,091,906	–	-2.14%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-1,239,033	–	-2.27%	–
C	Exit	CITIGROUP INC	$0	–	-1,424,350	–	-2.34%	–
NKE	Exit	NIKE INC -CL B	$0	–	-1,064,668	–	-2.38%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-411,153	–	-2.39%	–
ALC	Exit	ALCON INC	$0	–	-1,792,181	–	-2.49%	–
BA	Exit	BOEING CO/THE	$0	–	-275,640	–	-2.49%	–
AMZN	Exit	AMAZON.COM INC	$0	–	-60,832	–	-2.51%	–
HLT	Exit	HILTON WORLDWIDE	$0	–	-1,166,282	–	-2.58%	–
MCO	Exit	MOODY'S CORP	$0	–	-659,440	–	-3.21%	–
EFX	Exit	EQUIFAX INC	$0	–	-962,947	–	-3.22%	–
MSGS	Exit	MADISON SQUARE-A	$0	–	-555,832	–	-3.48%	–
LIN	Exit	LINDE PLC	$0	–	-821,637	–	-3.78%	–
FICO	Exit	FAIR ISAAC CORP	$0	–	-558,559	–	-4.03%	–
MU	Exit	MICRON TECH	$0	–	-4,900,914	–	-4.99%	–

Q3 2019

			Value		Shares		↓ Weighting
MU	Buy	MICRON TECH	$210,003,000	+112.3%	4,900,914	+91.2%	4.99%	+106.5%
FICO	Buy	FAIR ISAAC CORP	$169,534,000	+63.1%	558,559	+68.8%	4.03%	+58.7%
LIN	Buy	LINDE PLC	$159,167,000	+3.0%	821,637	+6.7%	3.78%	+0.1%
MSGS	Buy	MADISON SQUARE-A	$146,474,000	+23.5%	555,832	+31.2%	3.48%	+20.1%
EFX	Buy	EQUIFAX INC	$135,458,000	+14.6%	962,947	+10.1%	3.22%	+11.4%
MCO	Sell	MOODY'S CORP	$135,073,000	+4.3%	659,440	-0.6%	3.21%	+1.4%
HLT	Buy	HILTON WORLDWIDE	$108,593,000	+12.1%	1,166,282	+17.7%	2.58%	+9.0%
AMZN	Buy	AMAZON.COM INC	$105,599,000	-7.6%	60,832	+0.8%	2.51%	-10.1%
BA	Buy	BOEING CO/THE	$104,874,000	+92.9%	275,640	+84.5%	2.49%	+87.7%
ALC	Buy	ALCON INC	$104,610,000	-0.7%	1,792,181	+5.2%	2.49%	-3.4%
SPGI	Sell	S&P GLOBAL INC	$100,725,000	-30.8%	411,153	-35.7%	2.39%	-32.7%
NKE	Buy	NIKE INC -CL B	$99,994,000	+61.5%	1,064,668	+44.4%	2.38%	+57.0%
C	Sell	CITIGROUP INC	$98,394,000	-8.2%	1,424,350	-6.9%	2.34%	-10.7%
PGR	Buy	PROGRESSIVE CORP	$95,715,000	+38.0%	1,239,033	+42.8%	2.27%	+34.2%
RJF	Buy	RAYMOND JAMES	$90,038,000	+5.2%	1,091,906	+7.8%	2.14%	+2.3%
ETFC	Buy	E TRADE FINANCIA	$83,334,000	+76.0%	1,907,408	+79.7%	1.98%	+71.3%
ZTS	Buy	ZOETIS INC	$76,900,000	+25.8%	617,233	+14.6%	1.83%	+22.4%
MAR	Buy	MARRIOTT INTL-A	$76,693,000	+252.8%	616,645	+297.9%	1.82%	+243.1%
MS	Buy	MORGAN STANLEY	$76,227,000	+10.3%	1,786,432	+13.2%	1.81%	+7.2%
MSFT	Buy	MICROSOFT CORP	$70,443,000	+22.8%	506,673	+18.3%	1.67%	+19.5%
CFG	Sell	CITIZENS FINANCI	$69,402,000	-2.6%	1,962,168	-2.6%	1.65%	-5.3%
CTVA	Buy	CORTEVA INC	$67,327,000	+37.0%	2,404,534	+44.6%	1.60%	+33.2%
ANSS	Buy	ANSYS INC	$65,930,000	+138.5%	297,840	+120.7%	1.57%	+132.1%
KEYS	Buy	KEYSIGHT TEC	$65,715,000	+142.9%	675,736	+124.3%	1.56%	+136.3%
BC	Sell	BRUNSWICK CORP	$65,678,000	-18.4%	1,260,128	-28.1%	1.56%	-20.6%
PDD	Sell	PINDUODUO INCadr	$65,652,000	+28.5%	2,037,617	-17.7%	1.56%	+25.0%
IAA	Buy	IAA INC	$60,735,000	+170.3%	1,455,436	+151.2%	1.44%	+162.8%
FIS	Buy	FIDELITY NATIONA	$59,249,000	+19.2%	446,286	+10.1%	1.41%	+15.9%
SYF	Sell	SYNCHRONY FINANC	$56,896,000	-4.3%	1,669,021	-2.6%	1.35%	-6.9%
NSC	Sell	NORFOLK SOUTHERN	$56,119,000	-33.2%	312,361	-25.9%	1.33%	-35.0%
NTNX	Buy	NUTANIX INC - A	$55,838,000	+177.4%	2,127,150	+174.1%	1.33%	+169.7%
UTX	Buy	UNITED TECH CORP	$55,665,000	+44.6%	407,739	+37.9%	1.32%	+40.7%
MDLZ	Sell	MONDELEZ INTER-A	$55,555,000	-1.0%	1,004,262	-3.6%	1.32%	-3.7%
H	Sell	HYATT HOTELS-A	$55,469,000	-13.3%	752,946	-10.4%	1.32%	-15.7%
PEP	Sell	PEPSICO INC	$55,349,000	-0.0%	403,711	-4.4%	1.32%	-2.8%
KSU	Sell	KANSAS CITY SOUT	$54,878,000	-24.3%	412,586	-30.7%	1.30%	-26.4%
MA	Sell	MASTERCARD INC-A	$54,775,000	-50.1%	201,696	-51.4%	1.30%	-51.5%
CPA	Sell	COPA HOLDIN-CL A	$54,394,000	-22.7%	550,823	-23.6%	1.29%	-24.8%
SNPS	Sell	SYNOPSYS INC	$49,632,000	-8.8%	361,623	-14.5%	1.18%	-11.3%
SPY	New	SPDR S&P 500 ETFetp	$48,371,000	–	162,992	–	1.15%	–
UNP	Sell	UNION PAC CORP	$45,469,000	-43.8%	280,705	-41.4%	1.08%	-45.4%
HEIA	Buy	HEICO CORP-A	$44,926,000	+23.2%	461,687	+30.9%	1.07%	+19.9%
SQ	Buy	SQUARE INC - A	$41,423,000	+5.8%	668,654	+23.9%	0.98%	+2.9%
CDNS	Sell	CADENCE DESIGN	$41,037,000	-11.9%	621,022	-5.6%	0.98%	-14.3%
HEI	Buy	HEICO CORP	$36,809,000	+11.4%	294,748	+19.4%	0.88%	+8.4%
THO	New	THOR INDUSTRIES	$35,321,000	–	623,595	–	0.84%	–
ICE	New	INTERCONTINENTAL	$35,110,000	–	380,515	–	0.83%	–
FUN	Sell	CEDAR FAIR LPmlp	$33,365,000	+2.2%	571,733	-16.5%	0.79%	-0.5%
EURN	Sell	EURONAV NV	$33,199,000	-2.6%	3,608,643	-0.0%	0.79%	-5.2%
ENTG	Sell	ENTEGRIS INC	$32,225,000	+18.7%	684,783	-5.8%	0.77%	+15.5%
MMYT	Buy	MAKEMYTRIP LTD	$30,433,000	-5.6%	1,341,240	+3.1%	0.72%	-8.2%
RF	New	REGIONS FINANCIA	$29,831,000	–	1,885,637	–	0.71%	–
URI	New	UNITED RENTALS	$29,244,000	–	234,628	–	0.70%	–
RRR	Sell	RED ROCK RESOR-A	$28,958,000	-10.4%	1,426,519	-5.2%	0.69%	-12.8%
TROX	New	TRONOX HOLDING-A	$28,190,000	–	3,396,391	–	0.67%	–
CC	New	CHEMOURS CO	$27,996,000	–	1,873,935	–	0.66%	–
EEFT	Buy	EURONET WORLDWID	$23,423,000	-5.2%	160,103	+9.0%	0.56%	-7.8%
WEX	New	WEX INC	$20,848,000	–	103,169	–	0.50%	–
RDN	New	RADIAN GROUP INC	$20,271,000	–	887,513	–	0.48%	–
SBNY	Sell	SIGNATURE BANK	$17,599,000	-61.3%	147,618	-60.8%	0.42%	-62.4%
MTG	Sell	MGIC INVT CORP	$11,668,000	-71.8%	927,515	-70.6%	0.28%	-72.7%
COUP	Buy	COUPA SOFTWARE I	$10,172,000	+45.4%	78,501	+42.1%	0.24%	+41.5%
ALLY	New	ALLY FINANCIAL I	$9,530,000	–	287,382	–	0.23%	–
CONE	New	CYRUSONE INCreit	$8,126,000	–	102,724	–	0.19%	–
AAPL	New	APPLE INC	$5,117,000	–	22,847	–	0.12%	–
CMG	New	CHIPOTLE MEXICAN	$5,132,000	–	6,106	–	0.12%	–
INTC	New	INTEL CORP	$5,075,000	–	98,483	–	0.12%	–
F	New	FORD MOTOR CO	$5,050,000	–	551,260	–	0.12%	–
CELG	New	CELGENE CORP	$5,023,000	–	50,581	–	0.12%	–
XLNX	New	XILINX INC	$4,997,000	–	52,110	–	0.12%	–
QRVO	New	QORVO INC	$4,977,000	–	67,124	–	0.12%	–
GOOGL	Sell	ALPHABET INC-A	$4,980,000	-1.0%	4,078	-12.2%	0.12%	-4.1%
JBHT	Buy	HUNT (JB) TRANS	$4,984,000	+53.1%	45,045	+26.5%	0.12%	+47.5%
EA	New	ELECTRONIC ARTS	$4,902,000	–	50,112	–	0.12%	–
FB	Buy	FACEBOOK INC-A	$4,855,000	-4.7%	27,263	+3.3%	0.12%	-7.3%
TTWO	New	TAKE-TWO INTERAC	$4,730,000	–	37,741	–	0.11%	–
CRM	New	SALESFORCE.COM	$4,734,000	–	31,893	–	0.11%	–
CME	Sell	CME GROUP INC	$4,206,000	-16.0%	19,903	-22.8%	0.10%	-18.0%
SHW	New	SHERWIN-WILLIAMS	$4,132,000	–	7,515	–	0.10%	–
LB	New	L BRANDS INC	$3,811,000	–	194,530	–	0.09%	–
UPS	New	UNITED PARCEL-B	$3,711,000	–	30,974	–	0.09%	–
ABC	New	AMERISOURCEBERGE	$3,075,000	–	37,354	–	0.07%	–
EEM	New	ISHARES MSCI EMEetp	$2,979,000	–	72,895	–	0.07%	–
BABA	Buy	ALIBABA GRP-ADRadr	$2,300,000	+71.0%	13,754	+73.3%	0.06%	+66.7%
FLS	New	FLOWSERVE CORP	$2,289,000	–	48,998	–	0.05%	–
ENIA	New	ENEL AMERICA-ADRadr	$2,034,000	–	223,221	–	0.05%	–
SEE	New	SEALED AIR CORP	$1,852,000	–	44,615	–	0.04%	–
PKI	New	PERKINELMER INC	$1,611,000	–	18,919	–	0.04%	–
SIMO	New	SILICON MOTI-ADRadr	$1,192,000	–	33,734	–	0.03%	–
RDY	New	DR. REDDY'S LABOadr	$1,104,000	–	29,147	–	0.03%	–
ADS	New	ALLIANCE DATA	$966,000	–	7,537	–	0.02%	–
HOLI	New	HOLLYSYS AUTOMAT	$828,000	–	54,530	–	0.02%	–
KT	New	KT CORP-ADRadr	$756,000	–	66,874	–	0.02%	–
CBPO	New	CHINA BIOLOGIC P	$759,000	–	6,631	–	0.02%	–
MLCO	New	MELCO RESO-ADRadr	$593,000	–	30,565	–	0.01%	–
SO	New	SOUTHERN CO	$587,000	–	9,498	–	0.01%	–
FN	New	FABRINET	$589,000	–	11,262	–	0.01%	–
WNS	New	WNS HOLDINGS-ADRadr	$528,000	–	8,983	–	0.01%	–
KOF	New	COCA-COLA F-ADRadr	$500,000	–	8,244	–	0.01%	–
YNDX	New	YANDEX NV-A	$474,000	–	13,593	–	0.01%	–
NOAH	New	NOAH HOLDING-ADSadr	$382,000	–	13,097	–	0.01%	–
MFC	Sell	MANULIFE FIN	$375,000	-49.8%	20,600	-49.9%	0.01%	-50.0%
CHA	New	CHINA TELECO-ADRadr	$336,000	–	7,363	–	0.01%	–
SSW	New	SEASPAN CORP	$340,000	–	31,969	–	0.01%	–
CHT	New	CHUNGHWA TEL-ADRadr	$293,000	–	8,204	–	0.01%	–
BIDU	New	BAIDU INC-SP ADRadr	$278,000	–	2,701	–	0.01%	–
PBR	New	PETROBRAS SA-ADRadr	$282,000	–	19,519	–	0.01%	–
CZZ	New	COSAN LTD - A	$312,000	–	20,956	–	0.01%	–
HDB	New	HDFC BANK-ADRadr	$240,000	–	4,214	–	0.01%	–
MBT	New	MOBILE TELES-ADRadr	$254,000	–	31,330	–	0.01%	–
SSL	New	SASOL LTD-SP ADRadr	$196,000	–	11,523	–	0.01%	–
WF	New	WOORI FI-ADRadr	$217,000	–	6,959	–	0.01%	–
TCOM	New	TRIP.COM GRO-ADRadr	$196,000	–	6,681	–	0.01%	–
CHU	New	CHINA UNICOM-ADRadr	$203,000	–	19,395	–	0.01%	–
CETV	New	CENTRAL EURO M-A	$212,000	–	47,141	–	0.01%	–
ARCE	New	ARCO PLATFORM-A	$182,000	–	3,584	–	0.00%	–
BAP	New	CREDICORP LTD	$154,000	–	741	–	0.00%	–
PHI	New	PLDT INC-ADRadr	$161,000	–	7,326	–	0.00%	–
TSU	New	TIM PARTICIP-ADRadr	$167,000	–	11,634	–	0.00%	–
CIB	New	BANCOLOMBIA-ADRadr	$170,000	–	3,440	–	0.00%	–
VEDL	New	VEDANTA LTD-ADRadr	$187,000	–	21,499	–	0.00%	–
WIT	New	WIPRO LTD-ADRadr	$163,000	–	44,551	–	0.00%	–
CBD	New	PAO ACUCAR-ADRadr	$154,000	–	8,008	–	0.00%	–
KB	New	KB FINANCIAL-ADRadr	$134,000	–	3,764	–	0.00%	–
BSMX	New	BANCO SANTA-ADRadr	$113,000	–	17,916	–	0.00%	–
PTR	New	PETROCHINA -ADRadr	$145,000	–	2,848	–	0.00%	–
TGS	New	TRANSPORT GA-ADRadr	$119,000	–	14,051	–	0.00%	–
TGH	New	TEXTAINER GROUP	$115,000	–	11,610	–	0.00%	–
MIXT	New	MIX TELEMATI-ADRadr	$95,000	–	6,795	–	0.00%	–
STNE	New	STONECO LTD-A	$100,000	–	2,882	–	0.00%	–
PAGS	New	PAGSEGURO DIGI-A	$88,000	–	1,896	–	0.00%	–
TEO	New	TELECOM ARGE-ADRadr	$67,000	–	6,679	–	0.00%	–
TSM	New	TAIWAN SEMIC-ADRadr	$64,000	–	1,381	–	0.00%	–
HHR	New	HEADHUNTER G-ADRadr	$65,000	–	3,344	–	0.00%	–
UMC	New	UNITED MICRO-ADRadr	$86,000	–	41,211	–	0.00%	–
AMX	New	AMERICA-SPON ADRadr	$70,000	–	4,739	–	0.00%	–
HCM	New	HUTCHISON CH-ADRadr	$71,000	–	3,976	–	0.00%	–
CYD	New	CHINA YUCHAI	$76,000	–	5,875	–	0.00%	–
QD	Sell	QUDIAN INC-SPONadr	$30,000	-85.7%	4,388	-84.4%	0.00%	-80.0%
CEO	New	CNOOC LTD-ADRadr	$35,000	–	230	–	0.00%	–
IMOS	New	CHIPMOS TECH-ADRadr	$63,000	–	3,099	–	0.00%	–
GSHHY	New	GUANGSHEN RA-ADRadr	$32,000	–	2,004	–	0.00%	–
MELI	New	MERCADOLIBRE INC	$51,000	–	93	–	0.00%	–
PPDF	New	PPDAI GROUP-ADRadr	$51,000	–	17,664	–	0.00%	–
SINA	New	SINA CORP	$49,000	–	1,254	–	0.00%	–
SABR	New	SABRE CORP	$20,000	–	901	–	0.00%	–
T	New	AT&T INC	$3,000	–	74	–	0.00%	–
VLO	New	VALERO ENERGY	$1,000	–	7	–	0.00%	–
PTEN	New	PATTERSON-UTI	$0	–	55	–	0.00%	–
PPL	New	PPL CORP	$1,000	–	30	–	0.00%	–
NTAP	New	NETAPP INC	$1,000	–	15	–	0.00%	–
HGV	New	HILTON GRAND VAC	$1,000	–	21	–	0.00%	–
AWI	New	ARMSTRONG WORLD	$3,000	–	35	–	0.00%	–
PLAN	New	ANAPLAN INC	$0	–	2	–	0.00%	–
AA	New	ALCOA CORP	$0	–	6	–	0.00%	–
AL	New	AIR LEASE C	$0	–	2	–	0.00%	–
HCSG	Exit	HEALTHCARE SERVS	$0	–	-6,763	–	-0.01%	–
SSNC	Exit	SS&C TECHNOLOGIE	$0	–	-4,764	–	-0.01%	–
NVT	Exit	NVENT ELECTRIC	$0	–	-15,301	–	-0.01%	–
SY	Exit	SO-YOUNG INT-ADRadr	$0	–	-29,154	–	-0.01%	–
SPNV	Exit	SUPERIOR ENERGY	$0	–	-427,625	–	-0.01%	–
VGR	Exit	VECTOR GROUP LTD	$0	–	-61,873	–	-0.02%	–
TAL	Exit	TAL EDUCATIO-ADRadr	$0	–	-20,829	–	-0.02%	–
TPR	Exit	TAPESTRY INC	$0	–	-28,649	–	-0.02%	–
MRVL	Exit	MARVELL TECH GRP	$0	–	-41,409	–	-0.02%	–
FNF	Exit	FIDELITY NATIONA	$0	–	-38,699	–	-0.04%	–
BKR	Exit	BAKER HUGHES A	$0	–	-66,679	–	-0.04%	–
SIRI	Exit	SIRIUS XM HOLDIN	$0	–	-406,197	–	-0.06%	–
FBHS	Exit	FORTUNE BRANDS H	$0	–	-45,386	–	-0.06%	–
VC	Exit	VISTEON CORP	$0	–	-48,645	–	-0.07%	–
LVS	Exit	LAS VEGAS SANDS	$0	–	-48,922	–	-0.07%	–
KEY	Exit	KEYCORP	$0	–	-179,381	–	-0.08%	–
MOS	Exit	MOSAIC CO/THE	$0	–	-141,033	–	-0.09%	–
KMB	Exit	KIMBERLY-CLARK	$0	–	-27,515	–	-0.09%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-94,215	–	-0.09%	–
MCD	Exit	MCDONALDS CORP	$0	–	-17,864	–	-0.09%	–
NFLX	Exit	NETFLIX INC	$0	–	-13,512	–	-0.12%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-81,631	–	-0.12%	–
EW	Exit	EDWARDS LIFE	$0	–	-26,970	–	-0.12%	–
AVGO	Exit	BROADCOM INC	$0	–	-17,500	–	-0.12%	–
MMM	Exit	3M CO	$0	–	-29,152	–	-0.12%	–
ADBE	Exit	ADOBE INC	$0	–	-17,056	–	-0.12%	–
LOW	Exit	LOWE'S COS INC	$0	–	-50,337	–	-0.12%	–
EIX	Exit	EDISON INTL	$0	–	-76,781	–	-0.13%	–
CTRP	Exit	CTRIP.COM-ADRadr	$0	–	-459,396	–	-0.41%	–
	Exit	BRP INC/CA-SUB V	$0	–	-876,535	–	-0.77%	–
DD	Exit	DUPONT DE NEMOUR	$0	–	-443,312	–	-0.81%	–
GPN	Exit	GLOBAL PAYMENTS	$0	–	-236,494	–	-0.92%	–
CBS	Exit	CBS CORP-B	$0	–	-791,207	–	-0.96%	–
LUV	Exit	SOUTHWEST AIR	$0	–	-818,823	–	-1.02%	–
WWD	Exit	WOODWARD INC	$0	–	-394,217	–	-1.09%	–
MTN	Exit	VAIL RESORTS	$0	–	-257,308	–	-1.40%	–
PBRA	Exit	PETROBR-SP P ADRadr	$0	–	-4,132,864	–	-1.43%	–
AZPN	Exit	ASPEN TECHNOLOGY	$0	–	-489,621	–	-1.49%	–
WP	Exit	WORLDPAY INC-A	$0	–	-547,436	–	-1.64%	–
VMW	Exit	VMWARE INC-CL A	$0	–	-648,735	–	-2.65%	–

Q2 2019

			Value		Shares		↓ Weighting
LIN	New	LINDE PLC	$154,584,000	–	769,843	–	3.78%	–
SPGI	New	S&P GLOBAL INC	$145,608,000	–	639,222	–	3.56%	–
MCO	New	MOODY'S CORP	$129,561,000	–	663,359	–	3.16%	–
MSGS	New	MADISON SQUARE-A	$118,627,000	–	423,759	–	2.90%	–
EFX	New	EQUIFAX INC	$118,245,000	–	874,329	–	2.89%	–
AMZN	New	AMAZON.COM INC	$114,229,000	–	60,323	–	2.79%	–
MA	New	MASTERCARD INC-A	$109,843,000	–	415,237	–	2.68%	–
VMW	New	VMWARE INC-CL A	$108,475,000	–	648,735	–	2.65%	–
C	New	CITIGROUP INC	$107,131,000	–	1,529,791	–	2.62%	–
ALC	New	ALCON INC	$105,340,000	–	1,703,707	–	2.57%	–
FICO	New	FAIR ISAAC CORP	$103,935,000	–	330,983	–	2.54%	–
MU	New	MICRON TECH	$98,896,000	–	2,562,733	–	2.42%	–
HLT	New	HILTON WORLDWIDE	$96,882,000	–	991,225	–	2.37%	–
RJF	New	RAYMOND JAMES	$85,624,000	–	1,012,713	–	2.09%	–
NSC	New	NORFOLK SOUTHERN	$84,044,000	–	421,635	–	2.05%	–
UNP	New	UNION PAC CORP	$80,949,000	–	478,674	–	1.98%	–
BC	New	BRUNSWICK CORP	$80,452,000	–	1,753,159	–	1.97%	–
KSU	New	KANSAS CITY SOUT	$72,523,000	–	595,324	–	1.77%	–
CFG	New	CITIZENS FINANCI	$71,252,000	–	2,015,033	–	1.74%	–
CPA	New	COPA HOLDIN-CL A	$70,356,000	–	721,083	–	1.72%	–
PGR	New	PROGRESSIVE CORP	$69,353,000	–	867,671	–	1.69%	–
MS	New	MORGAN STANLEY	$69,120,000	–	1,577,718	–	1.69%	–
WP	New	WORLDPAY INC-A	$67,089,000	–	547,436	–	1.64%	–
H	New	HYATT HOTELS-A	$63,981,000	–	840,423	–	1.56%	–
NKE	New	NIKE INC -CL B	$61,912,000	–	737,487	–	1.51%	–
ZTS	New	ZOETIS INC	$61,117,000	–	538,523	–	1.49%	–
AZPN	New	ASPEN TECHNOLOGY	$60,851,000	–	489,621	–	1.49%	–
SYF	New	SYNCHRONY FINANC	$59,440,000	–	1,714,451	–	1.45%	–
PBRA	New	PETROBR-SP P ADRadr	$58,686,000	–	4,132,864	–	1.43%	–
MTN	New	VAIL RESORTS	$57,426,000	–	257,308	–	1.40%	–
MSFT	New	MICROSOFT CORP	$57,357,000	–	428,168	–	1.40%	–
MDLZ	New	MONDELEZ INTER-A	$56,125,000	–	1,041,270	–	1.37%	–
PEP	New	PEPSICO INC	$55,368,000	–	422,241	–	1.35%	–
SNPS	New	SYNOPSYS INC	$54,399,000	–	422,715	–	1.33%	–
BA	New	BOEING CO/THE	$54,376,000	–	149,380	–	1.33%	–
PDD	New	PINDUODUO INCadr	$51,091,000	–	2,476,484	–	1.25%	–
FIS	New	FIDELITY NATIONA	$49,725,000	–	405,320	–	1.22%	–
CTVA	New	CORTEVA INC	$49,157,000	–	1,662,398	–	1.20%	–
ETFC	New	ETRADE FINANCIA	$47,337,000	–	1,061,387	–	1.16%	–
CDNS	New	CADENCE DESIGN	$46,597,000	–	658,063	–	1.14%	–
SBNY	New	SIGNATURE BANK	$45,476,000	–	376,328	–	1.11%	–
WWD	New	WOODWARD INC	$44,609,000	–	394,217	–	1.09%	–
LUV	New	SOUTHWEST AIR	$41,580,000	–	818,823	–	1.02%	–
MTG	New	MGIC INVT CORP	$41,448,000	–	3,154,360	–	1.01%	–
CBS	New	CBS CORP-B	$39,481,000	–	791,207	–	0.96%	–
SQ	New	SQUARE INC - A	$39,149,000	–	539,773	–	0.96%	–
UTX	New	UNITED TECH CORP	$38,491,000	–	295,626	–	0.94%	–
GPN	New	GLOBAL PAYMENTS	$37,869,000	–	236,494	–	0.92%	–
HEIA	New	HEICO CORP-A	$36,466,000	–	352,775	–	0.89%	–
EURN	New	EURONAV NV	$34,074,000	–	3,609,561	–	0.83%	–
DD	New	DUPONT DE NEMOUR	$33,280,000	–	443,312	–	0.81%	–
HEI	New	HEICO CORP	$33,040,000	–	246,920	–	0.81%	–
FUN	New	CEDAR FAIR LPmlp	$32,638,000	–	684,391	–	0.80%	–
RRR	New	RED ROCK RESOR-A	$32,312,000	–	1,504,319	–	0.79%	–
MMYT	New	MAKEMYTRIP LTD	$32,255,000	–	1,300,585	–	0.79%	–
	New	BRP INC/CA-SUB V	$31,388,000	–	876,535	–	0.77%	–
ANSS	New	ANSYS INC	$27,639,000	–	134,942	–	0.68%	–
ENTG	New	ENTEGRIS INC	$27,137,000	–	727,141	–	0.66%	–
KEYS	New	KEYSIGHT TEC	$27,055,000	–	301,247	–	0.66%	–
EEFT	New	EURONET WORLDWID	$24,714,000	–	146,895	–	0.60%	–
IAA	New	IAA INC	$22,472,000	–	579,488	–	0.55%	–
MAR	New	MARRIOTT INTL-A	$21,741,000	–	154,974	–	0.53%	–
NTNX	New	NUTANIX INC - A	$20,127,000	–	775,909	–	0.49%	–
CTRP	New	CTRIP.COM-ADRadr	$16,956,000	–	459,396	–	0.41%	–
COUP	New	COUPA SOFTWARE I	$6,995,000	–	55,252	–	0.17%	–
EIX	New	EDISON INTL	$5,176,000	–	76,781	–	0.13%	–
LOW	New	LOWE'S COS INC	$5,080,000	–	50,337	–	0.12%	–
FB	New	FACEBOOK INC-A	$5,092,000	–	26,385	–	0.12%	–
AVGO	New	BROADCOM INC	$5,038,000	–	17,500	–	0.12%	–
GOOGL	New	ALPHABET INC-A	$5,029,000	–	4,644	–	0.12%	–
MMM	New	3M CO	$5,053,000	–	29,152	–	0.12%	–
ADBE	New	ADOBE INC	$5,026,000	–	17,056	–	0.12%	–
EW	New	EDWARDS LIFE	$4,982,000	–	26,970	–	0.12%	–
CME	New	CME GROUP INC	$5,006,000	–	25,790	–	0.12%	–
COP	New	CONOCOPHILLIPS	$4,979,000	–	81,631	–	0.12%	–
NFLX	New	NETFLIX INC	$4,963,000	–	13,512	–	0.12%	–
SLB	New	SCHLUMBERGER LTD	$3,744,000	–	94,215	–	0.09%	–
MCD	New	MCDONALDS CORP	$3,710,000	–	17,864	–	0.09%	–
KMB	New	KIMBERLY-CLARK	$3,667,000	–	27,515	–	0.09%	–
MOS	New	MOSAIC CO/THE	$3,530,000	–	141,033	–	0.09%	–
JBHT	New	HUNT (JB) TRANS	$3,256,000	–	35,616	–	0.08%	–
KEY	New	KEYCORP	$3,184,000	–	179,381	–	0.08%	–
LVS	New	LAS VEGAS SANDS	$2,891,000	–	48,922	–	0.07%	–
VC	New	VISTEON CORP	$2,850,000	–	48,645	–	0.07%	–
FBHS	New	FORTUNE BRANDS H	$2,593,000	–	45,386	–	0.06%	–
SIRI	New	SIRIUS XM HOLDIN	$2,267,000	–	406,197	–	0.06%	–
BKR	New	BAKER HUGHES A	$1,642,000	–	66,679	–	0.04%	–
FNF	New	FIDELITY NATIONA	$1,560,000	–	38,699	–	0.04%	–
BABA	New	ALIBABA GRP-ADRadr	$1,345,000	–	7,936	–	0.03%	–
MRVL	New	MARVELL TECH GRP	$988,000	–	41,409	–	0.02%	–
TPR	New	TAPESTRY INC	$909,000	–	28,649	–	0.02%	–
TAL	New	TAL EDUCATIO-ADRadr	$794,000	–	20,829	–	0.02%	–
MFC	New	MANULIFE FIN	$747,000	–	41,100	–	0.02%	–
VGR	New	VECTOR GROUP LTD	$603,000	–	61,873	–	0.02%	–
SPNV	New	SUPERIOR ENERGY	$556,000	–	427,625	–	0.01%	–
SY	New	SO-YOUNG INT-ADRadr	$405,000	–	29,154	–	0.01%	–
NVT	New	NVENT ELECTRIC	$379,000	–	15,301	–	0.01%	–
SSNC	New	SS&C TECHNOLOGIE	$274,000	–	4,764	–	0.01%	–
HCSG	New	HEALTHCARE SERVS	$205,000	–	6,763	–	0.01%	–
QD	New	QUDIAN INC-SPONadr	$210,000	–	28,044	–	0.01%	–

Q4 2018

			Value		Shares		↓ Weighting
PPL	Exit	PPL CORP	$0	–	-39,060	–	-0.02%	–
TXT	Exit	TEXTRON INC	$0	–	-23,352	–	-0.03%	–
JD	Exit	JD.COM INC-ADRadr	$0	–	-90,758	–	-0.04%	–
EURN	Exit	EURONAV NV	$0	–	-293,780	–	-0.04%	–
VIPS	Exit	VIPSHOP HOLDINGSadr	$0	–	-505,006	–	-0.05%	–
GDS	Exit	GDS HLDGS - ADRadr	$0	–	-91,086	–	-0.06%	–
MCK	Exit	MCKESSON CORP	$0	–	-25,442	–	-0.06%	–
YY	Exit	YY INC-ADRadr	$0	–	-45,400	–	-0.06%	–
TLK	Exit	TELEKOMUNIKA-ADRadr	$0	–	-208,080	–	-0.09%	–
IQ	Exit	IQIYI INC-ADRadr	$0	–	-198,340	–	-0.09%	–
RH	Exit	RH	$0	–	-43,028	–	-0.10%	–
SYF	Exit	SYNCHRONY FINANC	$0	–	-192,106	–	-0.10%	–
LOW	Exit	LOWE'S COS INC	$0	–	-64,358	–	-0.13%	–
ED	Exit	CONS EDISON INC	$0	–	-114,420	–	-0.15%	–
MTG	Exit	MGIC INVT CORP	$0	–	-660,870	–	-0.15%	–
GRFS	Exit	GRIFOLS SA-ADRadr	$0	–	-437,240	–	-0.16%	–
WB	Exit	WEIBO CORP-ADRadr	$0	–	-132,152	–	-0.17%	–
EVRG	Exit	EVERGY INC	$0	–	-177,700	–	-0.17%	–
ALXN	Exit	ALEXION PHARM	$0	–	-71,056	–	-0.17%	–
ABT	Exit	ABBOTT LABS	$0	–	-135,118	–	-0.17%	–
NTRS	Exit	NORTHERN TRUST	$0	–	-97,152	–	-0.17%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-174,398	–	-0.17%	–
GM	Exit	GENERAL MOTORS C	$0	–	-297,088	–	-0.17%	–
PRU	Exit	PRUDENTL FINL	$0	–	-98,960	–	-0.17%	–
MCHP	Exit	MICROCHIP TECH	$0	–	-127,210	–	-0.17%	–
HIG	Exit	HARTFORD FINL SV	$0	–	-201,450	–	-0.17%	–
LLL	Exit	L3 TECHNOLOGIES	$0	–	-47,144	–	-0.17%	–
KO	Exit	COCA-COLA CO/THE	$0	–	-217,296	–	-0.17%	–
GILD	Exit	GILEAD SCIENCES	$0	–	-130,582	–	-0.17%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-142,222	–	-0.17%	–
AEP	Exit	AMERICAN ELECTRI	$0	–	-143,328	–	-0.18%	–
ETFC	Exit	E TRADE FINANCIA	$0	–	-195,314	–	-0.18%	–
INTC	Exit	INTEL CORP	$0	–	-217,958	–	-0.18%	–
ZTS	Exit	ZOETIS INC	$0	–	-213,484	–	-0.34%	–
HEIA	Exit	HEICO CORP-A	$0	–	-336,276	–	-0.44%	–
TAL	Exit	TAL EDUCATIO-ADRadr	$0	–	-986,498	–	-0.44%	–
HEI	Exit	HEICO CORP	$0	–	-281,008	–	-0.45%	–
WFC	Exit	WELLS FARGO & CO	$0	–	-541,154	–	-0.49%	–
BBAR	Exit	BBVA BANCO F-ADRadr	$0	–	-2,791,170	–	-0.56%	–
MCO	Exit	MOODY'S CORP	$0	–	-207,988	–	-0.60%	–
WP	Exit	WORLDPAY INC-A	$0	–	-377,316	–	-0.66%	–
UNP	Exit	UNION PAC CORP	$0	–	-244,364	–	-0.68%	–
EXAS	Exit	EXACT SCIENCES	$0	–	-524,566	–	-0.71%	–
MMYT	Exit	MAKEMYTRIP LTD	$0	–	-1,576,236	–	-0.74%	–
FUN	Exit	CEDAR FAIR LPmlp	$0	–	-887,306	–	-0.80%	–
CPA	Exit	COPA HOLDIN-CL A	$0	–	-603,742	–	-0.83%	–
AXTA	Exit	AXALTA COATING S	$0	–	-1,678,928	–	-0.84%	–
GGAL	Exit	GRUPO GALICI-ADRadr	$0	–	-2,181,630	–	-0.96%	–
CFG	Exit	CITIZENS FINANCI	$0	–	-1,483,074	–	-0.98%	–
EEFT	Exit	EURONET WORLDWID	$0	–	-588,800	–	-1.02%	–
SKX	Exit	SKECHERS USA-A	$0	–	-2,164,736	–	-1.04%	–
AZPN	Exit	ASPEN TECHNOLOGY	$0	–	-534,742	–	-1.05%	–
A	Exit	AGILENT TECH INC	$0	–	-894,038	–	-1.09%	–
RRR	Exit	RED ROCK RESOR-A	$0	–	-2,535,880	–	-1.16%	–
GLUU	Exit	GLU MOBILE INC	$0	–	-9,111,698	–	-1.17%	–
ABMD	Exit	ABIOMED INC	$0	–	-151,106	–	-1.17%	–
MTN	Exit	VAIL RESORTS	$0	–	-251,538	–	-1.19%	–
RF	Exit	REGIONS FINANCIA	$0	–	-3,929,780	–	-1.24%	–
LUV	Exit	SOUTHWEST AIR	$0	–	-1,205,882	–	-1.30%	–
EA	Exit	ELECTRONIC ARTS	$0	–	-652,096	–	-1.35%	–
VMW	Exit	VMWARE INC-CL A	$0	–	-521,446	–	-1.40%	–
YNDX	Exit	YANDEX NV-A	$0	–	-2,503,764	–	-1.42%	–
PX	Exit	PRAXAIR INC	$0	–	-574,938	–	-1.59%	–
PBR	Exit	PETROBRAS SA-ADRadr	$0	–	-8,074,156	–	-1.68%	–
MDLZ	Exit	MONDELEZ INTER-A	$0	–	-2,340,140	–	-1.73%	–
H	Exit	HYATT HOTELS-A	$0	–	-1,318,376	–	-1.81%	–
KEY	Exit	KEYCORP	$0	–	-5,957,062	–	-2.04%	–
GRUB	Exit	GRUBHUB INC	$0	–	-913,234	–	-2.18%	–
MOS	Exit	MOSAIC CO/THE	$0	–	-3,973,052	–	-2.22%	–
NTR	Exit	NUTRIEN LTD	$0	–	-2,413,226	–	-2.40%	–
BAC	Exit	BANK OF AMERICA	$0	–	-4,754,170	–	-2.41%	–
MS	Exit	MORGAN STANLEY	$0	–	-3,160,466	–	-2.54%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-818,722	–	-2.54%	–
HUM	Exit	HUMANA INC	$0	–	-446,758	–	-2.60%	–
HLT	Exit	HILTON WORLDWIDE	$0	–	-1,877,140	–	-2.61%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-775,886	–	-2.61%	–
C	Exit	CITIGROUP INC	$0	–	-2,161,718	–	-2.67%	–
BABA	Exit	ALIBABA GRP-ADRadr	$0	–	-965,774	–	-2.74%	–
BSX	Exit	BOSTON SCIENTIFC	$0	–	-4,521,172	–	-3.00%	–
TTWO	Exit	TAKE-TWO INTERAC	$0	–	-1,335,922	–	-3.18%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-1,871,188	–	-3.69%	–
EFX	Exit	EQUIFAX INC	$0	–	-1,648,930	–	-3.71%	–
MSGS	Exit	MADISON SQUARE-A	$0	–	-698,368	–	-3.79%	–
BRKB	Exit	BERKSHIRE HATH-B	$0	–	-1,030,100	–	-3.80%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-3,623,388	–	-4.01%	–
AMZN	Exit	AMAZON.COM INC	$0	–	-117,000	–	-4.04%	–
GOOGL	Exit	ALPHABET INC-A	$0	–	-194,282	–	-4.04%	–

Q3 2018

			Value		Shares		↓ Weighting
GOOGL	Buy	ALPHABET INC-A	$234,514,000	+4580.9%	194,282	+4278.7%	4.04%	+2347.9%
AMZN	Buy	AMAZON.COM INC	$234,352,000	+41.2%	117,000	+19.8%	4.04%	-26.4%
DWDP	Buy	DOWDUPONT INC	$233,020,000	+48.9%	3,623,388	+52.7%	4.01%	-22.3%
BRKB	Buy	BERKSHIRE HATH-B	$220,556,000	+130.4%	1,030,100	+100.9%	3.80%	+20.2%
MSGS	Buy	MADISON SQUARE-A	$220,210,000	+179.7%	698,368	+175.2%	3.79%	+45.9%
EFX	Buy	EQUIFAX INC	$215,302,000	+80.8%	1,648,930	+73.2%	3.71%	-5.7%
MSFT	Buy	MICROSOFT CORP	$214,008,000	+262.4%	1,871,188	+212.5%	3.69%	+89.1%
TTWO	Buy	TAKE-TWO INTERAC	$184,344,000	+270.0%	1,335,922	+217.4%	3.18%	+93.0%
BSX	New	BOSTON SCIENTIFC	$174,066,000	–	4,521,172	–	3.00%	–
BABA	Sell	ALIBABA GRP-ADRadr	$159,122,000	-13.0%	965,774	-2.1%	2.74%	-54.6%
C	Buy	CITIGROUP INC	$155,082,000	+87.2%	2,161,718	+74.6%	2.67%	-2.3%
HLT	Buy	HILTON WORLDWIDE	$151,636,000	+120.0%	1,877,140	+115.5%	2.61%	+14.7%
SPGI	Buy	S&P GLOBAL INC	$151,602,000	+68.1%	775,886	+75.4%	2.61%	-12.3%
HUM	Buy	HUMANA INC	$151,236,000	+128.5%	446,758	+100.9%	2.60%	+19.2%
NSC	Buy	NORFOLK SOUTHERN	$147,778,000	+140.4%	818,722	+100.9%	2.54%	+25.4%
MS	Buy	MORGAN STANLEY	$147,184,000	+132.2%	3,160,466	+136.3%	2.54%	+21.1%
BAC	Buy	BANK OF AMERICA	$140,058,000	+131.2%	4,754,170	+121.2%	2.41%	+20.6%
NTR	Buy	NUTRIEN LTD	$139,244,000	+154.1%	2,413,226	+139.5%	2.40%	+32.6%
MOS	Buy	MOSAIC CO/THE	$129,046,000	+265.4%	3,973,052	+215.6%	2.22%	+90.6%
GRUB	Buy	GRUBHUB INC	$126,592,000	+173.5%	913,234	+107.0%	2.18%	+42.7%
KEY	Buy	KEYCORP	$118,486,000	+46.3%	5,957,062	+43.8%	2.04%	-23.6%
H	Buy	HYATT HOTELS-A	$104,930,000	+189.2%	1,318,376	+180.3%	1.81%	+50.8%
MDLZ	Buy	MONDELEZ INTER-A	$100,534,000	+27.2%	2,340,140	+21.3%	1.73%	-33.7%
PBR	New	PETROBRAS SA-ADRadr	$97,456,000	–	8,074,156	–	1.68%	–
PX	Sell	PRAXAIR INC	$92,410,000	-51.9%	574,938	-52.6%	1.59%	-74.9%
YNDX	New	YANDEX NV-A	$82,348,000	–	2,503,764	–	1.42%	–
VMW	New	VMWARE INC-CL A	$81,376,000	–	521,446	–	1.40%	–
EA	Buy	ELECTRONIC ARTS	$78,572,000	+93.2%	652,096	+126.1%	1.35%	+0.7%
LUV	Buy	SOUTHWEST AIR	$75,308,000	+53.6%	1,205,882	+25.2%	1.30%	-19.8%
RF	New	REGIONS FINANCIA	$72,112,000	–	3,929,780	–	1.24%	–
MTN	Buy	VAIL RESORTS	$69,028,000	+101.0%	251,538	+100.9%	1.19%	+4.9%
ABMD	New	ABIOMED INC	$67,960,000	–	151,106	–	1.17%	–
GLUU	Buy	GLU MOBILE INC	$67,882,000	+213.4%	9,111,698	+169.6%	1.17%	+63.5%
RRR	Buy	RED ROCK RESOR-A	$67,580,000	+156.1%	2,535,880	+221.9%	1.16%	+33.6%
A	New	AGILENT TECH INC	$63,066,000	–	894,038	–	1.09%	–
AZPN	Buy	ASPEN TECHNOLOGY	$60,912,000	+298.4%	534,742	+224.3%	1.05%	+107.7%
SKX	New	SKECHERS USA-A	$60,460,000	–	2,164,736	–	1.04%	–
EEFT	Buy	EURONET WORLDWID	$59,010,000	+133.9%	588,800	+95.5%	1.02%	+22.0%
CFG	Buy	CITIZENS FINANCI	$57,202,000	-0.5%	1,483,074	+0.3%	0.98%	-48.1%
GGAL	Buy	GRUPO GALICI-ADRadr	$55,480,000	+69.6%	2,181,630	+120.0%	0.96%	-11.6%
AXTA	Buy	AXALTA COATING S	$48,958,000	+4.2%	1,678,928	+8.4%	0.84%	-45.6%
CPA	New	COPA HOLDIN-CL A	$48,204,000	–	603,742	–	0.83%	–
FUN	Buy	CEDAR FAIR LPmlp	$46,210,000	+78.7%	887,306	+116.2%	0.80%	-6.8%
MMYT	New	MAKEMYTRIP LTD	$43,268,000	–	1,576,236	–	0.74%	–
EXAS	New	EXACT SCIENCES	$41,400,000	–	524,566	–	0.71%	–
UNP	New	UNION PAC CORP	$39,790,000	–	244,364	–	0.68%	–
WP	Buy	WORLDPAY INC-A	$38,212,000	+94.0%	377,316	+56.7%	0.66%	+1.2%
MCO	Sell	MOODY'S CORP	$34,776,000	-50.3%	207,988	-49.3%	0.60%	-74.0%
BBAR	Buy	BBVA BANCO F-ADRadr	$32,574,000	+234.1%	2,791,170	+253.9%	0.56%	+74.2%
WFC	New	WELLS FARGO & CO	$28,444,000	–	541,154	–	0.49%	–
HEI	New	HEICO CORP	$26,024,000	–	281,008	–	0.45%	–
TAL	Buy	TAL EDUCATIO-ADRadr	$25,364,000	+299.7%	986,498	+472.0%	0.44%	+108.1%
HEIA	New	HEICO CORP-A	$25,390,000	–	336,276	–	0.44%	–
ZTS	New	ZOETIS INC	$19,546,000	–	213,484	–	0.34%	–
INTC	New	INTEL CORP	$10,308,000	–	217,958	–	0.18%	–
ETFC	Sell	E TRADE FINANCIA	$10,232,000	-16.9%	195,314	-3.0%	0.18%	-56.8%
AEP	Buy	AMERICAN ELECTRI	$10,160,000	+103.4%	143,328	+98.7%	0.18%	+6.1%
GILD	Buy	GILEAD SCIENCES	$10,082,000	+100.2%	130,582	+83.7%	0.17%	+4.8%
PGR	Buy	PROGRESSIVE CORP	$10,104,000	+103.4%	142,222	+69.3%	0.17%	+6.1%
KO	New	COCA-COLA CO/THE	$10,036,000	–	217,296	–	0.17%	–
MCHP	New	MICROCHIP TECH	$10,038,000	–	127,210	–	0.17%	–
PRU	New	PRUDENTL FINL	$10,026,000	–	98,960	–	0.17%	–
LLL	New	L3 TECHNOLOGIES	$10,024,000	–	47,144	–	0.17%	–
HIG	New	HARTFORD FINL SV	$10,064,000	–	201,450	–	0.17%	–
GM	Buy	GENERAL MOTORS C	$10,002,000	+124.2%	297,088	+162.3%	0.17%	+17.0%
NTRS	New	NORTHERN TRUST	$9,922,000	–	97,152	–	0.17%	–
SBUX	New	STARBUCKS CORP	$9,912,000	–	174,398	–	0.17%	–
ABT	Sell	ABBOTT LABS	$9,912,000	-47.4%	135,118	-56.3%	0.17%	-72.5%
ALXN	New	ALEXION PHARM	$9,878,000	–	71,056	–	0.17%	–
EVRG	New	EVERGY INC	$9,760,000	–	177,700	–	0.17%	–
WB	New	WEIBO CORP-ADRadr	$9,664,000	–	132,152	–	0.17%	–
GRFS	Buy	GRIFOLS SA-ADRadr	$9,344,000	+492.9%	437,240	+496.8%	0.16%	+209.6%
MTG	New	MGIC INVT CORP	$8,796,000	–	660,870	–	0.15%	–
ED	New	CONS EDISON INC	$8,718,000	–	114,420	–	0.15%	–
LOW	New	LOWE'S COS INC	$7,390,000	–	64,358	–	0.13%	–
SYF	New	SYNCHRONY FINANC	$5,970,000	–	192,106	–	0.10%	–
RH	New	RH	$5,638,000	–	43,028	–	0.10%	–
IQ	New	IQIYI INC-ADRadr	$5,370,000	–	198,340	–	0.09%	–
TLK	New	TELEKOMUNIKA-ADRadr	$5,094,000	–	208,080	–	0.09%	–
YY	New	YY INC-ADRadr	$3,402,000	–	45,400	–	0.06%	–
MCK	New	MCKESSON CORP	$3,374,000	–	25,442	–	0.06%	–
GDS	New	GDS HLDGS - ADRadr	$3,200,000	–	91,086	–	0.06%	–
VIPS	Sell	VIPSHOP HOLDINGSadr	$3,152,000	-87.7%	505,006	-78.5%	0.05%	-93.6%
EURN	New	EURONAV NV	$2,556,000	–	293,780	–	0.04%	–
JD	New	JD.COM INC-ADRadr	$2,368,000	–	90,758	–	0.04%	–
TXT	New	TEXTRON INC	$1,668,000	–	23,352	–	0.03%	–
PPL	New	PPL CORP	$1,142,000	–	39,060	–	0.02%	–
PPDF	Exit	PPDAI GROUP-ADRadr	$0	–	-44,248	–	-0.01%	–
BWA	Exit	BORGWARNER INC	$0	–	-6,749	–	-0.01%	–
HCM	Exit	HUTCHISON CH-ADRadr	$0	–	-10,620	–	-0.01%	–
GHG	Exit	GREENTREE HO-ADRadr	$0	–	-29,540	–	-0.02%	–
HP	Exit	HELMERICH & PAYN	$0	–	-11,117	–	-0.02%	–
YUMC	Exit	YUM CHINA HO	$0	–	-24,012	–	-0.03%	–
AVX	Exit	AVX CORP	$0	–	-78,938	–	-0.04%	–
VMC	Exit	VULCAN MATERIALS	$0	–	-17,398	–	-0.07%	–
BDX	Exit	BECTON DICKINSON	$0	–	-12,454	–	-0.10%	–
MLCO	Exit	MELCO RESO-ADRadr	$0	–	-114,013	–	-0.10%	–
IBM	Exit	IBM	$0	–	-25,630	–	-0.12%	–
EVHC	Exit	ENVISION HEALTHC	$0	–	-82,788	–	-0.12%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-70,219	–	-0.15%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-65,000	–	-0.15%	–
MNST	Exit	MONSTER BEVERAGE	$0	–	-82,287	–	-0.16%	–
CTRP	Exit	CTRIP.COM-ADRadr	$0	–	-103,027	–	-0.16%	–
SWK	Exit	STANLEY BLACK &	$0	–	-37,232	–	-0.16%	–
FB	Exit	FACEBOOK INC-A	$0	–	-25,480	–	-0.16%	–
ANTM	Exit	ANTHEM INC	$0	–	-20,896	–	-0.16%	–
CTSH	Exit	COGNIZANT TECH-A	$0	–	-63,275	–	-0.16%	–
BAX	Exit	BAXTER INTL INC	$0	–	-67,759	–	-0.16%	–
DUK	Exit	DUKE ENERGY CORP	$0	–	-63,099	–	-0.16%	–
TSS	Exit	TOTAL SYS SERVS	$0	–	-59,319	–	-0.17%	–
EMR	Exit	EMERSON ELEC CO	$0	–	-72,896	–	-0.17%	–
OXY	Exit	OCCIDENTAL PETE	$0	–	-59,952	–	-0.17%	–
CBOE	Exit	CBOE GLOBAL MARK	$0	–	-90,643	–	-0.31%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-171,293	–	-0.34%	–
SHOP	Exit	SHOPIFY INC - A	$0	–	-130,723	–	-0.63%	–
ATVI	Exit	ACTIVISION BLIZZ	$0	–	-252,536	–	-0.64%	–
SERV	Exit	SERVICEMASTER GL	$0	–	-412,807	–	-0.81%	–
ON	Exit	ON SEMICONDUCTOR	$0	–	-1,204,788	–	-0.88%	–
AKAM	Exit	AKAMAI TECHNOLOG	$0	–	-446,710	–	-1.08%	–
TWTR	Exit	TWITTER INC	$0	–	-838,591	–	-1.21%	–
PM	Exit	PHILIP MORRIS IN	$0	–	-512,290	–	-1.37%	–
NFLX	Exit	NETFLIX INC	$0	–	-105,771	–	-1.37%	–
CL	Exit	COLGATE-PALMOLIV	$0	–	-648,129	–	-1.39%	–
MAR	Exit	MARRIOTT INTL-A	$0	–	-518,049	–	-2.16%	–
EL	Exit	ESTEE LAUDER	$0	–	-605,202	–	-2.85%	–

Q2 2018

			Value		Shares		↓ Weighting
PX	New	PRAXAIR INC	$191,957,000	–	1,213,768	–	6.34%	–
BABA	New	ALIBABA GRP-ADRadr	$182,935,000	–	986,010	–	6.04%	–
AMZN	New	AMAZON.COM INC	$165,994,000	–	97,655	–	5.48%	–
DWDP	New	DOWDUPONT INC	$156,460,000	–	2,373,477	–	5.16%	–
EFX	New	EQUIFAX INC	$119,108,000	–	952,021	–	3.93%	–
BRKB	New	BERKSHIRE HATH-B	$95,707,000	–	512,763	–	3.16%	–
SPGI	New	S&P GLOBAL INC	$90,191,000	–	442,352	–	2.98%	–
EL	New	ESTEE LAUDER	$86,356,000	–	605,202	–	2.85%	–
C	New	CITIGROUP INC	$82,834,000	–	1,237,805	–	2.74%	–
KEY	New	KEYCORP	$80,963,000	–	4,143,451	–	2.67%	–
MDLZ	New	MONDELEZ INTER-A	$79,066,000	–	1,928,434	–	2.61%	–
MSGS	New	MADISON SQUARE-A	$78,722,000	–	253,784	–	2.60%	–
MCO	New	MOODY'S CORP	$69,919,000	–	409,937	–	2.31%	–
HLT	New	HILTON WORLDWIDE	$68,940,000	–	870,906	–	2.28%	–
HUM	New	HUMANA INC	$66,183,000	–	222,366	–	2.18%	–
MAR	New	MARRIOTT INTL-A	$65,585,000	–	518,049	–	2.16%	–
MS	New	MORGAN STANLEY	$63,386,000	–	1,337,242	–	2.09%	–
NSC	New	NORFOLK SOUTHERN	$61,479,000	–	407,499	–	2.03%	–
BAC	New	BANK OF AMERICA	$60,589,000	–	2,149,317	–	2.00%	–
MSFT	New	MICROSOFT CORP	$59,050,000	–	598,825	–	1.95%	–
CFG	New	CITIZENS FINANCI	$57,494,000	–	1,477,995	–	1.90%	–
NTR	New	NUTRIEN LTD	$54,792,000	–	1,007,569	–	1.81%	–
TTWO	New	TAKE-TWO INTERAC	$49,817,000	–	420,889	–	1.64%	–
LUV	New	SOUTHWEST AIR	$49,013,000	–	963,318	–	1.62%	–
AXTA	New	AXALTA COATING S	$46,964,000	–	1,549,453	–	1.55%	–
GRUB	New	GRUBHUB INC	$46,290,000	–	441,234	–	1.53%	–
CL	New	COLGATE-PALMOLIV	$42,005,000	–	648,129	–	1.39%	–
NFLX	New	NETFLIX INC	$41,402,000	–	105,771	–	1.37%	–
PM	New	PHILIP MORRIS IN	$41,362,000	–	512,290	–	1.37%	–
EA	New	ELECTRONIC ARTS	$40,675,000	–	288,437	–	1.34%	–
TWTR	New	TWITTER INC	$36,621,000	–	838,591	–	1.21%	–
H	New	HYATT HOTELS-A	$36,281,000	–	470,264	–	1.20%	–
MOS	New	MOSAIC CO/THE	$35,314,000	–	1,258,959	–	1.17%	–
MTN	New	VAIL RESORTS	$34,338,000	–	125,232	–	1.13%	–
GGAL	New	GRUPO GALICI-ADRadr	$32,712,000	–	991,865	–	1.08%	–
AKAM	New	AKAMAI TECHNOLOG	$32,712,000	–	446,710	–	1.08%	–
ON	New	ON SEMICONDUCTOR	$26,782,000	–	1,204,788	–	0.88%	–
RRR	New	RED ROCK RESOR-A	$26,388,000	–	787,691	–	0.87%	–
FUN	New	CEDAR FAIR LPmlp	$25,857,000	–	410,369	–	0.85%	–
VIPS	New	VIPSHOP HOLDINGSadr	$25,529,000	–	2,352,875	–	0.84%	–
EEFT	New	EURONET WORLDWID	$25,232,000	–	301,217	–	0.83%	–
SERV	New	SERVICEMASTER GL	$24,550,000	–	412,807	–	0.81%	–
GLUU	New	GLU MOBILE INC	$21,662,000	–	3,379,422	–	0.72%	–
WP	New	WORLDPAY INC-A	$19,693,000	–	240,809	–	0.65%	–
ATVI	New	ACTIVISION BLIZZ	$19,273,000	–	252,536	–	0.64%	–
SHOP	New	SHOPIFY INC - A	$19,071,000	–	130,723	–	0.63%	–
ABT	New	ABBOTT LABS	$18,843,000	–	308,946	–	0.62%	–
AZPN	New	ASPEN TECHNOLOGY	$15,291,000	–	164,883	–	0.50%	–
ETFC	New	E TRADE FINANCIA	$12,320,000	–	201,448	–	0.41%	–
TMUS	New	T-MOBILE US INC	$10,235,000	–	171,293	–	0.34%	–
BBAR	New	BBVA BANCO F-ADRadr	$9,749,000	–	788,745	–	0.32%	–
CBOE	New	CBOE GLOBAL MARK	$9,434,000	–	90,643	–	0.31%	–
TAL	New	TAL EDUCATIO-ADRadr	$6,346,000	–	172,456	–	0.21%	–
TSS	New	TOTAL SYS SERVS	$5,014,000	–	59,319	–	0.17%	–
OXY	New	OCCIDENTAL PETE	$5,017,000	–	59,952	–	0.17%	–
GILD	New	GILEAD SCIENCES	$5,036,000	–	71,093	–	0.17%	–
EMR	New	EMERSON ELEC CO	$5,040,000	–	72,896	–	0.17%	–
CTSH	New	COGNIZANT TECH-A	$4,998,000	–	63,275	–	0.16%	–
DUK	New	DUKE ENERGY CORP	$4,990,000	–	63,099	–	0.16%	–
BAX	New	BAXTER INTL INC	$5,003,000	–	67,759	–	0.16%	–
AEP	New	AMERICAN ELECTRI	$4,994,000	–	72,118	–	0.16%	–
GOOGL	New	ALPHABET INC-A	$5,010,000	–	4,437	–	0.16%	–
ANTM	New	ANTHEM INC	$4,974,000	–	20,896	–	0.16%	–
PGR	New	PROGRESSIVE CORP	$4,968,000	–	83,991	–	0.16%	–
SWK	New	STANLEY BLACK &	$4,945,000	–	37,232	–	0.16%	–
FB	New	FACEBOOK INC-A	$4,951,000	–	25,480	–	0.16%	–
CTRP	New	CTRIP.COM-ADRadr	$4,907,000	–	103,027	–	0.16%	–
MNST	New	MONSTER BEVERAGE	$4,715,000	–	82,287	–	0.16%	–
CVS	New	CVS HEALTH CORP	$4,519,000	–	70,219	–	0.15%	–
COP	New	CONOCOPHILLIPS	$4,525,000	–	65,000	–	0.15%	–
GM	New	GENERAL MOTORS C	$4,462,000	–	113,261	–	0.15%	–
EVHC	New	ENVISION HEALTHC	$3,643,000	–	82,788	–	0.12%	–
IBM	New	IBM	$3,581,000	–	25,630	–	0.12%	–
MLCO	New	MELCO RESO-ADRadr	$3,192,000	–	114,013	–	0.10%	–
BDX	New	BECTON DICKINSON	$2,983,000	–	12,454	–	0.10%	–
VMC	New	VULCAN MATERIALS	$2,245,000	–	17,398	–	0.07%	–
GRFS	New	GRIFOLS SA-ADRadr	$1,576,000	–	73,267	–	0.05%	–
AVX	New	AVX CORP	$1,237,000	–	78,938	–	0.04%	–
YUMC	New	YUM CHINA HO	$924,000	–	24,012	–	0.03%	–
HP	New	HELMERICH & PAYN	$709,000	–	11,117	–	0.02%	–
GHG	New	GREENTREE HO-ADRadr	$534,000	–	29,540	–	0.02%	–
HCM	New	HUTCHISON CH-ADRadr	$320,000	–	10,620	–	0.01%	–
BWA	New	BORGWARNER INC	$291,000	–	6,749	–	0.01%	–
PPDF	New	PPDAI GROUP-ADRadr	$263,000	–	44,248	–	0.01%	–

Q4 2017

			Value		Shares		↓ Weighting
Q	Exit	QUINTILES IMS HO	$0	–	-3,166	–	-0.01%	–
YY	Exit	YY INC-ADRadr	$0	–	-4,777	–	-0.02%	–
CMG	Exit	CHIPOTLE MEXICAN	$0	–	-2,977	–	-0.04%	–
RJF	Exit	RAYMOND JAMES	$0	–	-16,427	–	-0.06%	–
NTES	Exit	NETEASE INC-ADRadr	$0	–	-5,435	–	-0.07%	–
BITA	Exit	BITAUTO HOLD-ADRadr	$0	–	-32,458	–	-0.07%	–
ACN	Exit	ACCENTURE PLC-A	$0	–	-11,477	–	-0.07%	–
CBRE	Exit	CBRE GROUP INC-A	$0	–	-42,901	–	-0.08%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-26,373	–	-0.10%	–
MNST	Exit	MONSTER BEVERAGE	$0	–	-45,077	–	-0.12%	–
BA	Exit	BOEING CO/THE	$0	–	-9,833	–	-0.12%	–
TJX	Exit	TJX COS INC	$0	–	-33,810	–	-0.12%	–
CMI	Exit	CUMMINS INC	$0	–	-14,834	–	-0.12%	–
CI	Exit	CIGNA CORP	$0	–	-13,370	–	-0.12%	–
DTE	Exit	DTE ENERGY CO	$0	–	-23,225	–	-0.12%	–
CME	Exit	CME GROUP INC	$0	–	-18,400	–	-0.12%	–
ADI	Exit	ANALOG DEVICES	$0	–	-29,194	–	-0.12%	–
MA	Exit	MASTERCARD INC-A	$0	–	-17,839	–	-0.12%	–
GRFS	Exit	GRIFOLS SA-ADRadr	$0	–	-114,572	–	-0.12%	–
AAPL	Exit	APPLE INC	$0	–	-16,314	–	-0.12%	–
PVH	Exit	PVH CORP	$0	–	-19,922	–	-0.12%	–
JPM	Exit	JP MORGAN CHASE	$0	–	-26,219	–	-0.12%	–
BMY	Exit	BRISTOL-MYER SQB	$0	–	-39,676	–	-0.12%	–
DXC	Exit	DXC TECHNOLOGY C	$0	–	-29,459	–	-0.12%	–
JD	Exit	JD.COM INC-ADRadr	$0	–	-115,835	–	-0.21%	–
HDB	Exit	HDFC BANK-ADRadr	$0	–	-50,520	–	-0.23%	–
EEM	Exit	ISHARES MSCI EMEetp	$0	–	-111,519	–	-0.24%	–
BIDU	Exit	BAIDU INC-SP ADRadr	$0	–	-47,900	–	-0.56%	–
BBAR	Exit	BBVA BANCO F-ADRadr	$0	–	-696,153	–	-0.66%	–
TAL	Exit	TAL EDUCATIO-ADRadr	$0	–	-420,347	–	-0.68%	–
SPG	Exit	SIMON PROPERTYreit	$0	–	-89,089	–	-0.68%	–
TRU	Exit	TRANSUNION	$0	–	-306,062	–	-0.68%	–
CMCSA	Exit	COMCAST CORP-A	$0	–	-417,125	–	-0.75%	–
MOS	Exit	MOSAIC CO/THE	$0	–	-926,851	–	-0.96%	–
MTG	Exit	MGIC INVT CORP	$0	–	-1,669,092	–	-1.03%	–
XLNX	Exit	XILINX INC	$0	–	-313,239	–	-1.05%	–
AXP	Exit	AMERICAN EXPRESS	$0	–	-258,288	–	-1.10%	–
GGAL	Exit	GRUPO GALICI-ADRadr	$0	–	-452,963	–	-1.12%	–
WB	Exit	WEIBO CORP-ADRadr	$0	–	-242,388	–	-1.14%	–
DFS	Exit	DISCOVER FINANCI	$0	–	-392,518	–	-1.19%	–
MMYT	Exit	MAKEMYTRIP LTD	$0	–	-873,773	–	-1.20%	–
TIF	Exit	TIFFANY & CO	$0	–	-277,752	–	-1.21%	–
CL	Exit	COLGATE-PALMOLIV	$0	–	-353,377	–	-1.22%	–
ROK	Exit	ROCKWELL AUTOMAT	$0	–	-158,171	–	-1.33%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-190,000	–	-1.40%	–
SXT	Exit	SENSIENT TECHNOL	$0	–	-403,835	–	-1.47%	–
C	Exit	CITIGROUP INC	$0	–	-438,079	–	-1.51%	–
ETFC	Exit	E TRADE FINANCIA	$0	–	-731,382	–	-1.52%	–
GCP	Exit	GCP APPLIED TECH	$0	–	-1,097,078	–	-1.61%	–
POT	Exit	POTASH CORP SAS	$0	–	-2,068,239	–	-1.86%	–
MDLZ	Exit	MONDELEZ INTER-A	$0	–	-994,630	–	-1.93%	–
AKAM	Exit	AKAMAI TECHNOLOG	$0	–	-858,505	–	-1.99%	–
BAC	Exit	BANK OF AMERICA	$0	–	-1,769,803	–	-2.10%	–
EL	Exit	ESTEE LAUDER	$0	–	-436,339	–	-2.23%	–
EFX	Exit	EQUIFAX INC	$0	–	-444,688	–	-2.23%	–
LUV	Exit	SOUTHWEST AIR	$0	–	-882,237	–	-2.34%	–
NSC	Exit	NORFOLK SOUTHERN	$0	–	-400,011	–	-2.50%	–
CHKP	Exit	CHECK POINT SOFT	$0	–	-483,775	–	-2.61%	–
KEY	Exit	KEYCORP	$0	–	-3,152,460	–	-2.84%	–
ALK	Exit	ALASKA AIR GROUP	$0	–	-805,369	–	-2.90%	–
CFG	Exit	CITIZENS FINANCI	$0	–	-1,769,682	–	-3.18%	–
AMZN	Exit	AMAZON.COM INC	$0	–	-73,079	–	-3.32%	–
FB	Exit	FACEBOOK INC-A	$0	–	-417,332	–	-3.38%	–
MON	Exit	MONSANTO CO	$0	–	-600,252	–	-3.41%	–
MS	Exit	MORGAN STANLEY	$0	–	-1,643,454	–	-3.74%	–
PM	Exit	PHILIP MORRIS IN	$0	–	-852,955	–	-4.48%	–
BRKB	Exit	BERKSHIRE HATH-B	$0	–	-523,084	–	-4.53%	–
BABA	Exit	ALIBABA GRP-ADRadr	$0	–	-588,230	–	-4.82%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-1,623,808	–	-5.30%	–
GOOGL	Exit	ALPHABET INC-A	$0	–	-117,539	–	-5.42%	–
PX	Exit	PRAXAIR INC	$0	–	-878,189	–	-5.82%	–

Q3 2017

			Value		Shares		↓ Weighting
PX	Buy	PRAXAIR INC	$122,947,000	+49.9%	878,189	+42.4%	5.82%	+38.4%
GOOGL	Buy	ALPHABET INC-A	$114,483,000	+11.1%	117,539	+6.1%	5.42%	+2.6%
DWDP	New	DOWDUPONT INC	$112,043,000	–	1,623,808	–	5.30%	–
BABA	Buy	ALIBABA GRP-ADRadr	$101,764,000	+33.5%	588,230	+8.8%	4.82%	+23.3%
BRKB	Buy	BERKSHIRE HATH-B	$95,724,000	+95.4%	523,084	+80.5%	4.53%	+80.4%
PM	Buy	PHILIP MORRIS IN	$94,678,000	+18.5%	852,955	+24.9%	4.48%	+9.4%
MS	Buy	MORGAN STANLEY	$78,885,000	+72.9%	1,643,454	+62.1%	3.74%	+59.6%
MON	Buy	MONSANTO CO	$72,030,000	+9.4%	600,252	+7.6%	3.41%	+1.0%
FB	Sell	FACEBOOK INC-A	$71,364,000	-32.6%	417,332	-40.5%	3.38%	-37.8%
AMZN	Sell	AMAZON.COM INC	$70,229,000	-38.1%	73,079	-37.6%	3.32%	-42.8%
CFG	Buy	CITIZENS FINANCI	$67,248,000	+192.5%	1,769,682	+177.1%	3.18%	+170.1%
ALK	Buy	ALASKA AIR GROUP	$61,208,000	+35.2%	805,369	+60.1%	2.90%	+24.9%
KEY	Buy	KEYCORP	$59,896,000	+23.3%	3,152,460	+23.3%	2.84%	+13.8%
CHKP	Buy	CHECK POINT SOFT	$55,151,000	+16.9%	483,775	+11.8%	2.61%	+7.9%
NSC	Sell	NORFOLK SOUTHERN	$52,801,000	-17.5%	400,011	-23.7%	2.50%	-23.8%
LUV	New	SOUTHWEST AIR	$49,405,000	–	882,237	–	2.34%	–
EFX	Buy	EQUIFAX INC	$47,137,000	+63.1%	444,688	+110.8%	2.23%	+50.6%
EL	Buy	ESTEE LAUDER	$47,124,000	+90.7%	436,339	+69.5%	2.23%	+76.1%
BAC	Sell	BANK OF AMERICA	$44,245,000	-17.9%	1,769,803	-21.2%	2.10%	-24.2%
AKAM	Buy	AKAMAI TECHNOLOG	$42,067,000	+98.7%	858,505	+102.8%	1.99%	+83.6%
MDLZ	Buy	MONDELEZ INTER-A	$40,780,000	+40.2%	994,630	+47.0%	1.93%	+29.4%
POT	Buy	POTASH CORP SAS	$39,297,000	+24.6%	2,068,239	+5.0%	1.86%	+15.0%
GCP	Sell	GCP APPLIED TECH	$34,010,000	-7.3%	1,097,078	-7.3%	1.61%	-14.4%
ETFC	Sell	E TRADE FINANCIA	$32,181,000	-39.9%	731,382	-48.1%	1.52%	-44.5%
C	Sell	CITIGROUP INC	$31,980,000	-37.3%	438,079	-42.4%	1.51%	-42.1%
SXT	Buy	SENSIENT TECHNOL	$31,095,000	+2.9%	403,835	+8.3%	1.47%	-5.0%
SPGI	Sell	S&P GLOBAL INC	$29,640,000	-36.3%	190,000	-40.4%	1.40%	-41.2%
ROK	Sell	ROCKWELL AUTOMAT	$28,154,000	-38.4%	158,171	-44.0%	1.33%	-43.2%
CL	Sell	COLGATE-PALMOLIV	$25,797,000	-32.8%	353,377	-31.9%	1.22%	-38.0%
MMYT	Buy	MAKEMYTRIP LTD	$25,340,000	+316.4%	873,773	+388.2%	1.20%	+284.6%
DFS	Sell	DISCOVER FINANCI	$25,122,000	-45.6%	392,518	-47.3%	1.19%	-49.8%
WB	Buy	WEIBO CORP-ADRadr	$23,996,000	+3690.8%	242,388	+2427.0%	1.14%	+3450.0%
GGAL	Sell	GRUPO GALICI-ADRadr	$23,554,000	+19.2%	452,963	-1.4%	1.12%	+10.1%
AXP	New	AMERICAN EXPRESS	$23,246,000	–	258,288	–	1.10%	–
XLNX	Buy	XILINX INC	$22,240,000	+69.1%	313,239	+52.5%	1.05%	+56.2%
MTG	Sell	MGIC INVT CORP	$21,698,000	-61.7%	1,669,092	-67.6%	1.03%	-64.6%
MOS	Sell	MOSAIC CO/THE	$20,391,000	-29.2%	926,851	-26.0%	0.96%	-34.6%
CMCSA	Sell	COMCAST CORP-A	$15,850,000	-59.2%	417,125	-58.2%	0.75%	-62.4%
TRU	New	TRANSUNION	$14,385,000	–	306,062	–	0.68%	–
SPG	New	SIMON PROPERTYreit	$14,343,000	–	89,089	–	0.68%	–
TAL	Buy	TAL EDUCATIO-ADRadr	$14,292,000	+80.3%	420,347	+547.1%	0.68%	+66.7%
BBAR	Sell	BBVA BANCO F-ADRadr	$13,923,000	+3.8%	696,153	-1.4%	0.66%	-4.2%
BIDU	Buy	BAIDU INC-SP ADRadr	$11,879,000	+308.8%	47,900	+195.0%	0.56%	+277.2%
EEM	New	ISHARES MSCI EMEetp	$5,018,000	–	111,519	–	0.24%	–
HDB	New	HDFC BANK-ADRadr	$4,850,000	–	50,520	–	0.23%	–
JD	Buy	JD.COM INC-ADRadr	$4,402,000	+933.3%	115,835	+961.5%	0.21%	+845.5%
BMY	New	BRISTOL-MYER SQB	$2,539,000	–	39,676	–	0.12%	–
DXC	New	DXC TECHNOLOGY C	$2,533,000	–	29,459	–	0.12%	–
JPM	Sell	JP MORGAN CHASE	$2,517,000	-72.6%	26,219	-74.0%	0.12%	-74.7%
AAPL	New	APPLE INC	$2,512,000	–	16,314	–	0.12%	–
PVH	New	PVH CORP	$2,510,000	–	19,922	–	0.12%	–
ADI	New	ANALOG DEVICES	$2,511,000	–	29,194	–	0.12%	–
GRFS	New	GRIFOLS SA-ADRadr	$2,521,000	–	114,572	–	0.12%	–
MA	New	MASTERCARD INC-A	$2,515,000	–	17,839	–	0.12%	–
DTE	New	DTE ENERGY CO	$2,485,000	–	23,225	–	0.12%	–
BA	Sell	BOEING CO/THE	$2,498,000	-0.4%	9,833	-22.3%	0.12%	-8.5%
CI	New	CIGNA CORP	$2,500,000	–	13,370	–	0.12%	–
CME	New	CME GROUP INC	$2,502,000	–	18,400	–	0.12%	–
CMI	New	CUMMINS INC	$2,492,000	–	14,834	–	0.12%	–
TJX	New	TJX COS INC	$2,502,000	–	33,810	–	0.12%	–
MNST	New	MONSTER BEVERAGE	$2,479,000	–	45,077	–	0.12%	–
XOM	New	EXXON MOBIL CORP	$2,163,000	–	26,373	–	0.10%	–
CBRE	Buy	CBRE GROUP INC-A	$1,630,000	+335.8%	42,901	+312.5%	0.08%	+305.3%
ACN	New	ACCENTURE PLC-A	$1,549,000	–	11,477	–	0.07%	–
BITA	New	BITAUTO HOLD-ADRadr	$1,461,000	–	32,458	–	0.07%	–
NTES	New	NETEASE INC-ADRadr	$1,435,000	–	5,435	–	0.07%	–
RJF	New	RAYMOND JAMES	$1,380,000	–	16,427	–	0.06%	–
CMG	New	CHIPOTLE MEXICAN	$917,000	–	2,977	–	0.04%	–
YY	New	YY INC-ADRadr	$416,000	–	4,777	–	0.02%	–
Q	New	QUINTILES IMS HO	$301,000	–	3,166	–	0.01%	–
MYCC	Exit	CLUBCORP HOLDING	$0	–	-20,618	–	-0.01%	–
GXP	Exit	GREAT PLAINS ENE	$0	–	-10,082	–	-0.02%	–
VIPS	Exit	VIPSHOP HOLDINGSadr	$0	–	-66,193	–	-0.04%	–
HUBB	Exit	HUBBELL INC	$0	–	-7,132	–	-0.04%	–
LVNTA	Exit	LIBERTY VENTUR-Atracking stk	$0	–	-26,053	–	-0.07%	–
GM	Exit	GENERAL MOTORS C	$0	–	-49,530	–	-0.09%	–
FDS	Exit	FACTSET RESEARCH	$0	–	-12,113	–	-0.10%	–
JELD	Exit	JELD-WEN HOLDING	$0	–	-77,017	–	-0.13%	–
DUK	Exit	DUKE ENERGY CORP	$0	–	-29,754	–	-0.13%	–
EXPD	Exit	EXPEDITORS INTL	$0	–	-44,674	–	-0.13%	–
PPL	Exit	PPL CORP	$0	–	-64,699	–	-0.13%	–
TXT	Exit	TEXTRON INC	$0	–	-53,602	–	-0.13%	–
AAL	Exit	AMERICAN AIRLINE	$0	–	-50,392	–	-0.13%	–
APD	Exit	AIR PRODS & CHEM	$0	–	-17,631	–	-0.13%	–
DAL	Exit	DELTA AIR LI	$0	–	-46,399	–	-0.13%	–
MPC	Exit	MARATHON PETROLE	$0	–	-48,253	–	-0.13%	–
MCK	Exit	MCKESSON CORP	$0	–	-15,274	–	-0.13%	–
COHR	Exit	COHERENT INC	$0	–	-11,283	–	-0.13%	–
UNP	Exit	UNION PAC CORP	$0	–	-23,182	–	-0.13%	–
LEA	Exit	LEAR CORP	$0	–	-17,913	–	-0.13%	–
MLCO	Exit	MELCO RESO-ADRadr	$0	–	-132,707	–	-0.15%	–
IBN	Exit	ICICI BANK-ADRadr	$0	–	-343,917	–	-0.16%	–
SKM	Exit	SK TELEC-SPN ADRadr	$0	–	-128,453	–	-0.17%	–
PTC	Exit	PTC INC	$0	–	-410,796	–	-1.16%	–
ZTS	Exit	ZOETIS INC	$0	–	-394,333	–	-1.25%	–
AAP	Exit	ADVANCE AUTO PAR	$0	–	-285,036	–	-1.71%	–
V	Exit	VISA INC-CLASS A	$0	–	-437,388	–	-2.11%	–
DOW	Exit	DOW CHEMICAL CO	$0	–	-1,047,675	–	-3.38%	–

Q2 2017

			Value		Shares		↓ Weighting
AMZN	New	AMAZON.COM INC	$113,380,000	–	117,128	–	5.81%	–
FB	New	FACEBOOK INC-A	$105,908,000	–	701,376	–	5.43%	–
GOOGL	New	ALPHABET INC-A	$103,013,000	–	110,767	–	5.28%	–
PX	New	PRAXAIR INC	$82,017,000	–	616,666	–	4.21%	–
PM	New	PHILIP MORRIS IN	$79,892,000	–	682,830	–	4.10%	–
BABA	New	ALIBABA GRP-ADRadr	$76,206,000	–	540,471	–	3.91%	–
DOW	New	DOW CHEMICAL CO	$66,004,000	–	1,047,675	–	3.38%	–
MON	New	MONSANTO CO	$65,849,000	–	558,041	–	3.38%	–
NSC	New	NORFOLK SOUTHERN	$63,990,000	–	524,507	–	3.28%	–
MTG	New	MGIC INVT CORP	$56,626,000	–	5,147,729	–	2.90%	–
BAC	New	BANK OF AMERICA	$53,906,000	–	2,246,092	–	2.76%	–
ETFC	New	E TRADE FINANCIA	$53,517,000	–	1,408,351	–	2.74%	–
C	New	CITIGROUP INC	$51,001,000	–	761,210	–	2.62%	–
BRKB	New	BERKSHIRE HATH-B	$48,977,000	–	289,804	–	2.51%	–
KEY	New	KEYCORP	$48,589,000	–	2,557,350	–	2.49%	–
CHKP	New	CHECK POINT SOFT	$47,175,000	–	432,802	–	2.42%	–
SPGI	New	S&P GLOBAL INC	$46,563,000	–	318,924	–	2.39%	–
DFS	New	DISCOVER FINANCI	$46,184,000	–	744,897	–	2.37%	–
ROK	New	ROCKWELL AUTOMAT	$45,731,000	–	282,292	–	2.34%	–
MS	New	MORGAN STANLEY	$45,633,000	–	1,014,067	–	2.34%	–
ALK	New	ALASKA AIR GROUP	$45,265,000	–	502,947	–	2.32%	–
V	New	VISA INC-CLASS A	$41,114,000	–	437,388	–	2.11%	–
CMCSA	New	COMCAST CORP-A	$38,883,000	–	997,010	–	1.99%	–
CL	New	COLGATE-PALMOLIV	$38,393,000	–	518,823	–	1.97%	–
GCP	New	GCP APPLIED TECH	$36,678,000	–	1,183,142	–	1.88%	–
AAP	New	ADVANCE AUTO PAR	$33,349,000	–	285,036	–	1.71%	–
POT	New	POTASH CORP SAS	$31,529,000	–	1,970,528	–	1.62%	–
SXT	New	SENSIENT TECHNOL	$30,205,000	–	372,905	–	1.55%	–
MDLZ	New	MONDELEZ INTER-A	$29,097,000	–	676,676	–	1.49%	–
EFX	New	EQUIFAX INC	$28,907,000	–	211,001	–	1.48%	–
MOS	New	MOSAIC CO/THE	$28,789,000	–	1,251,722	–	1.48%	–
TIF	New	TIFFANY & CO	$26,109,000	–	277,752	–	1.34%	–
EL	New	ESTEE LAUDER	$24,706,000	–	257,353	–	1.27%	–
ZTS	New	ZOETIS INC	$24,449,000	–	394,333	–	1.25%	–
CFG	New	CITIZENS FINANCI	$22,993,000	–	638,704	–	1.18%	–
PTC	New	PTC INC	$22,593,000	–	410,796	–	1.16%	–
AKAM	New	AKAMAI TECHNOLOG	$21,167,000	–	423,350	–	1.08%	–
GGAL	New	GRUPO GALICI-ADRadr	$19,756,000	–	459,438	–	1.01%	–
BBAR	New	BBVA BANCO F-ADRadr	$13,416,000	–	706,105	–	0.69%	–
XLNX	New	XILINX INC	$13,150,000	–	205,454	–	0.67%	–
JPM	New	JP MORGAN CHASE	$9,188,000	–	100,958	–	0.47%	–
TAL	New	TAL EDUCATIO-ADRadr	$7,925,000	–	64,961	–	0.41%	–
MMYT	New	MAKEMYTRIP LTD	$6,085,000	–	178,995	–	0.31%	–
SKM	New	SK TELEC-SPN ADRadr	$3,340,000	–	128,453	–	0.17%	–
IBN	New	ICICI BANK-ADRadr	$3,095,000	–	343,917	–	0.16%	–
MLCO	New	MELCO RESO-ADRadr	$2,920,000	–	132,707	–	0.15%	–
BIDU	New	BAIDU INC-SP ADRadr	$2,906,000	–	16,235	–	0.15%	–
COHR	New	COHERENT INC	$2,539,000	–	11,283	–	0.13%	–
LEA	New	LEAR CORP	$2,544,000	–	17,913	–	0.13%	–
UNP	New	UNION PAC CORP	$2,527,000	–	23,182	–	0.13%	–
DAL	New	DELTA AIR LI	$2,506,000	–	46,399	–	0.13%	–
MPC	New	MARATHON PETROLE	$2,509,000	–	48,253	–	0.13%	–
MCK	New	MCKESSON CORP	$2,520,000	–	15,274	–	0.13%	–
PPL	New	PPL CORP	$2,523,000	–	64,699	–	0.13%	–
TXT	New	TEXTRON INC	$2,519,000	–	53,602	–	0.13%	–
BA	New	BOEING CO/THE	$2,507,000	–	12,660	–	0.13%	–
AAL	New	AMERICAN AIRLINE	$2,520,000	–	50,392	–	0.13%	–
APD	New	AIR PRODS & CHEM	$2,521,000	–	17,631	–	0.13%	–
DUK	New	DUKE ENERGY CORP	$2,499,000	–	29,754	–	0.13%	–
EXPD	New	EXPEDITORS INTL	$2,502,000	–	44,674	–	0.13%	–
JELD	New	JELD-WEN HOLDING	$2,465,000	–	77,017	–	0.13%	–
FDS	New	FACTSET RESEARCH	$2,011,000	–	12,113	–	0.10%	–
GM	New	GENERAL MOTORS C	$1,734,000	–	49,530	–	0.09%	–
LVNTA	New	LIBERTY VENTUR-Atracking stk	$1,355,000	–	26,053	–	0.07%	–
HUBB	New	HUBBELL INC	$806,000	–	7,132	–	0.04%	–
VIPS	New	VIPSHOP HOLDINGSadr	$728,000	–	66,193	–	0.04%	–
WB	New	WEIBO CORP-ADRadr	$633,000	–	9,592	–	0.03%	–
JD	New	JD.COM INC-ADRadr	$426,000	–	10,912	–	0.02%	–
CBRE	New	CBRE GROUP INC-A	$374,000	–	10,399	–	0.02%	–
GXP	New	GREAT PLAINS ENE	$292,000	–	10,082	–	0.02%	–
MYCC	New	CLUBCORP HOLDING	$268,000	–	20,618	–	0.01%	–

Q3 2013

			Value		Shares		↓ Weighting
BIDU	Exit	BAIDU INC-SP ADRadr	$0	–	-2,216	–	-0.08%	–
TAL	Exit	TAL EDUCATIO-ADRadr	$0	–	-20,960	–	-0.09%	–
VNET	Exit	21VIANET-ADRadr	$0	–	-20,583	–	-0.10%	–
MLCO	Exit	MELCO CROWN-ADRadr	$0	–	-17,288	–	-0.16%	–
WX	Exit	WUXI PHARMAT-ADRadr	$0	–	-23,451	–	-0.20%	–
FOX	Exit	TWENTY-FIRST - B	$0	–	-31,201	–	-0.42%	–
BX	Exit	BLACKSTONE GROUPmlp	$0	–	-281,729	–	-2.41%	–
MTG	Exit	MGIC INVT CORP	$0	–	-1,140,362	–	-2.81%	–
JPM	Exit	JP MORGAN CHASE	$0	–	-187,255	–	-4.01%	–
OZM	Exit	OCH-ZIFF CAPIT-Amlp	$0	–	-1,177,238	–	-4.99%	–
AMG	Exit	AFFIL MANAGERS	$0	–	-91,778	–	-6.11%	–
RF	Exit	REGIONS FINANCIA	$0	–	-1,795,856	–	-6.95%	–
MS	Exit	MORGAN STANLEY	$0	–	-865,891	–	-8.59%	–
RDN	Exit	RADIAN GROUP INC	$0	–	-1,925,925	–	-9.08%	–
GNW	Exit	GENWORTH FINANCI	$0	–	-2,063,721	–	-9.56%	–
C	Exit	CITIGROUP INC	$0	–	-1,044,260	–	-20.34%	–
BAC	Exit	BANK OF AMERICA	$0	–	-4,618,397	–	-24.11%	–

Q2 2013

			Value		Shares		↓ Weighting
BAC	New	BANK OF AMERICA	$59,393,000	–	4,618,397	–	24.11%	–
C	New	CITIGROUP INC	$50,093,000	–	1,044,260	–	20.34%	–
GNW	New	GENWORTH FINANCI	$23,547,000	–	2,063,721	–	9.56%	–
RDN	New	RADIAN GROUP INC	$22,379,000	–	1,925,925	–	9.08%	–
MS	New	MORGAN STANLEY	$21,154,000	–	865,891	–	8.59%	–
RF	New	REGIONS FINANCIA	$17,115,000	–	1,795,856	–	6.95%	–
AMG	New	AFFIL MANAGERS	$15,046,000	–	91,778	–	6.11%	–
OZM	New	OCH-ZIFF CAPIT-Amlp	$12,290,000	–	1,177,238	–	4.99%	–
JPM	New	JP MORGAN CHASE	$9,885,000	–	187,255	–	4.01%	–
MTG	New	MGIC INVT CORP	$6,922,000	–	1,140,362	–	2.81%	–
BX	New	BLACKSTONE GROUPmlp	$5,933,000	–	281,729	–	2.41%	–
FOX	New	TWENTY-FIRST - B	$1,024,000	–	31,201	–	0.42%	–
WX	New	WUXI PHARMAT-ADRadr	$492,000	–	23,451	–	0.20%	–
MLCO	New	MELCO CROWN-ADRadr	$387,000	–	17,288	–	0.16%	–
VNET	New	21VIANET-ADRadr	$233,000	–	20,583	–	0.10%	–
TAL	New	TAL EDUCATIO-ADRadr	$220,000	–	20,960	–	0.09%	–
BIDU	New	BAIDU INC-SP ADRadr	$209,000	–	2,216	–	0.08%	–

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