Teewinot Capital Advisers, L.L.C. Activity Q4 2013-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
LLY	Buy	ELI LILLY & CO	$62,473,053	+55.7%	116,309	+35.9%	9.98%	+47.0%
GOOGL	Buy	ALPHABET INCcap stk cl a	$61,472,139	+26.1%	469,755	+15.3%	9.82%	+19.0%
FB	Sell	META PLATFORMS INCcl a	$60,983,759	-6.4%	203,137	-10.5%	9.74%	-11.6%
UBER	Buy	UBER TECHNOLOGIES INC	$53,733,612	+20.5%	1,168,376	+13.1%	8.58%	+13.8%
NFLX	Sell	NETFLIX INC	$40,715,475	-22.9%	107,827	-10.0%	6.50%	-27.2%
BKNG	Buy	BOOKING HOLDINGS INC	$35,018,252	+55.2%	11,355	+35.9%	5.59%	+46.6%
SCHW	Buy	SCHWAB CHARLES CORP	$30,091,678	+114.0%	548,118	+121.0%	4.81%	+102.1%
BRKB	Buy	BERKSHIRE HATHAWAY INC DELcl b new	$30,023,863	+39.6%	85,709	+35.9%	4.80%	+31.8%
VLRS	Sell	CONTROLADORA VUELA COMP DE Aspon adr rp 10	$28,197,451	-65.8%	4,152,791	-29.7%	4.50%	-67.7%
CI	Buy	THE CIGNA GROUP	$25,397,867	+19.0%	88,782	+16.8%	4.06%	+12.4%
GM	Buy	GENERAL MTRS CO	$24,872,073	-2.3%	754,385	+14.3%	3.97%	-7.8%
ULTA	Buy	ULTA BEAUTY INC	$24,738,338	-6.1%	61,931	+10.6%	3.95%	-11.4%
BAC	Buy	BANK AMERICA CORP	$23,560,709	+74.0%	860,508	+82.3%	3.76%	+64.3%
USB	Buy	US BANCORP DEL	$23,486,849	+82.1%	710,431	+81.9%	3.75%	+71.9%
DAL	Buy	DELTA AIR LINES INC DEL	$22,014,186	+5.8%	594,978	+35.9%	3.52%	-0.1%
MMC	Buy	MARSH & MCLENNAN COS INC	$19,529,538	+37.5%	102,625	+35.9%	3.12%	+29.9%
RYAAY	Buy	RYANAIR HOLDINGS PLCsponsored ads	$16,589,664	+2.3%	170,658	+16.4%	2.65%	-3.4%
AMZN	New	AMAZON COM INC	$15,218,298	–	119,716	–	2.43%	–
MS	New	MORGAN STANLEY	$12,398,894	–	151,817	–	1.98%	–
SAH	Sell	SONIC AUTOMOTIVE INCcl a	$6,576,074	-24.1%	137,690	-24.2%	1.05%	-28.3%
	Sell	PERIMETER SOLUTIONS SA	$1,003,626	-65.6%	221,063	-53.5%	0.16%	-67.6%
	Exit	LYFT INCput	$0	–	-3,000	–	-0.03%	–
	Exit	UBER TECHNOLOGIES INCput	$0	–	-4,500	–	-0.06%	–
	Exit	UBER TECHNOLOGIES INCcall	$0	–	-1,500	–	-0.21%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-89,577	–	-1.22%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-59,147	–	-3.41%	–

Q2 2023

			Value		Shares		↓ Weighting
VLRS	New	CONTROLADORA VUELA COMP DE Aspon adr rp 10	$82,354,969	–	5,903,582	–	13.93%	–
FB	New	META PLATFORMS INCcl a	$65,140,729	–	226,987	–	11.02%	–
NFLX	New	NETFLIX INC	$52,790,965	–	119,846	–	8.93%	–
GOOGL	New	ALPHABET INCcap stk cl a	$48,755,366	–	407,313	–	8.25%	–
UBER	New	UBER TECHNOLOGIES INC	$44,593,833	–	1,032,982	–	7.54%	–
LLY	New	LILLY ELI & CO	$40,125,929	–	85,560	–	6.79%	–
ULTA	New	ULTA BEAUTY INC	$26,355,202	–	56,004	–	4.46%	–
GM	New	GENERAL MTRS CO	$25,459,471	–	660,256	–	4.31%	–
BKNG	New	BOOKING HOLDINGS INC	$22,558,557	–	8,354	–	3.82%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$21,500,391	–	63,051	–	3.64%	–
CI	New	THE CIGNA GROUP	$21,334,579	–	76,032	–	3.61%	–
DAL	New	DELTA AIR LINES INC DEL	$20,807,545	–	437,685	–	3.52%	–
MSFT	New	MICROSOFT CORP	$20,141,919	–	59,147	–	3.41%	–
RYAAY	New	RYANAIR HOLDINGS PLCsponsored ads	$16,215,951	–	146,618	–	2.74%	–
MMC	New	MARSH & MCLENNAN COS INC	$14,199,100	–	75,495	–	2.40%	–
SCHW	New	SCHWAB CHARLES CORP	$14,060,494	–	248,068	–	2.38%	–
BAC	New	BANK AMERICA CORP	$13,541,651	–	471,999	–	2.29%	–
USB	New	US BANCORP DEL	$12,900,699	–	390,457	–	2.18%	–
SAH	New	SONIC AUTOMOTIVE INCcl a	$8,661,401	–	181,695	–	1.46%	–
CBRE	New	CBRE GROUP INCcl a	$7,229,760	–	89,577	–	1.22%	–
INTC	New	INTEL CORP	$3,264,131	–	97,670	–	0.55%	–
MU	New	MICRON TECHNOLOGY INC	$3,103,536	–	49,200	–	0.52%	–
	New	PERIMETER SOLUTIONS SA	$2,921,250	–	475,000	–	0.49%	–
	New	UBER TECHNOLOGIES INCcall	$1,248,750	–	1,500	–	0.21%	–
HPQ	New	HP INC	$777,216	–	25,300	–	0.13%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$424,914	–	25,300	–	0.07%	–
	New	UBER TECHNOLOGIES INCput	$346,500	–	4,500	–	0.06%	–
	New	LYFT INCput	$154,500	–	3,000	–	0.03%	–
DXC	New	DXC TECHNOLOGY CO	$58,063	–	2,173	–	0.01%	–

Q4 2022

			Value		Shares		↓ Weighting
ACVA	Exit	ACV AUCTIONS INC	$0	–	-500	–	-0.00%	–
	Exit	MICRO FOCUS INTL PLCspon adr new	$0	–	-2,882	–	-0.00%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-2,173	–	-0.01%	–
	Exit	HERTZ GLOBAL HLDGS INCcall	$0	–	-1,500	–	-0.02%	–
	Exit	GENERAL MTRS COcall	$0	–	-7,000	–	-0.03%	–
	Exit	AMERICAN AIRLS GROUP INCcall	$0	–	-3,000	–	-0.05%	–
	Exit	BK OF AMERICA CORPcall	$0	–	-6,000	–	-0.05%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-25,300	–	-0.07%	–
	Exit	UBER TECHNOLOGIES INCcall	$0	–	-3,000	–	-0.10%	–
AAL	Exit	AMERICAN AIRLS GROUP INC	$0	–	-48,000	–	-0.13%	–
	Exit	META PLATFORMS INCput	$0	–	-520	–	-0.14%	–
HPQ	Exit	HP INC	$0	–	-25,300	–	-0.14%	–
	Exit	LIFE TIME GROUP HOLDINGS INC	$0	–	-172,002	–	-0.38%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-49,200	–	-0.56%	–
INTC	Exit	INTEL CORP	$0	–	-97,670	–	-0.58%	–
	Exit	PERIMETER SOLUTIONS SA	$0	–	-475,000	–	-0.87%	–
STNE	Exit	STONECO LTD	$0	–	-419,298	–	-0.92%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-63,583	–	-3.39%	–
RYAAY	Exit	RYANAIR HOLDINGS PLCsponsored ads	$0	–	-287,419	–	-3.84%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-71,263	–	-4.36%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-118,187	–	-4.42%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-75,100	–	-4.44%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-130,316	–	-4.45%	–
ULTA	Exit	ULTA BEAUTY INC	$0	–	-53,680	–	-4.93%	–
LLY	Exit	LILLY ELI & CO	$0	–	-69,022	–	-5.11%	–
CI	Exit	CIGNA CORP NEW	$0	–	-81,404	–	-5.17%	–
BAC	Exit	BK OF AMERICA CORP	$0	–	-762,431	–	-5.27%	–
SAH	Exit	SONIC AUTOMOTIVE INCcl a	$0	–	-539,119	–	-5.34%	–
GM	Exit	GENERAL MTRS CO	$0	–	-762,981	–	-5.60%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-1,038,187	–	-6.30%	–
FB	Exit	META PLATFORMS INCcl a	$0	–	-223,642	–	-6.95%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-338,653	–	-7.42%	–
NFLX	Exit	NETFLIX INC	$0	–	-169,419	–	-9.13%	–
VLRS	Exit	CONTROLADORA VUELA COMP DE Aspon adr rp 10	$0	–	-6,128,882	–	-9.81%	–

Q3 2022

			Value		Shares		↓ Weighting
NFLX	Buy	NETFLIX INC	$39,888,000	+197.6%	169,419	+121.0%	9.13%	+41.2%
GOOGL	Buy	ALPHABET INCcap stk cl a	$32,392,000	+10.5%	338,653	+2418.2%	7.42%	-47.5%
FB	Buy	META PLATFORMS INCcl a	$30,344,000	+81.0%	223,642	+115.1%	6.95%	-14.1%
UBER	Buy	UBER TECHNOLOGIES INC	$27,512,000	+256.7%	1,038,187	+175.4%	6.30%	+69.3%
GM	Buy	GENERAL MTRS CO	$24,484,000	+240.9%	762,981	+237.4%	5.60%	+61.8%
SAH	Sell	SONIC AUTOMOTIVE INCcl a	$23,344,000	+10.8%	539,119	-6.3%	5.34%	-47.4%
BAC	New	BK OF AMERICA CORP	$23,025,000	–	762,431	–	5.27%	–
CI	New	CIGNA CORP NEW	$22,587,000	–	81,404	–	5.17%	–
LLY	New	LILLY ELI & CO	$22,318,000	–	69,022	–	5.11%	–
ULTA	Buy	ULTA BEAUTY INC	$21,536,000	+186.3%	53,680	+175.1%	4.93%	+35.9%
MMC	New	MARSH & MCLENNAN COS INC	$19,455,000	–	130,316	–	4.45%	–
DHR	New	DANAHER CORPORATION	$19,398,000	–	75,100	–	4.44%	–
JNJ	New	JOHNSON & JOHNSON	$19,307,000	–	118,187	–	4.42%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$19,029,000	–	71,263	–	4.36%	–
RYAAY	Sell	RYANAIR HOLDINGS PLCsponsored ads	$16,791,000	-25.0%	287,419	-13.7%	3.84%	-64.4%
MSFT	New	MICROSOFT CORP	$14,808,000	–	63,583	–	3.39%	–
	New	META PLATFORMS INCput	$592,000	–	520	–	0.14%	–
	Buy	BK OF AMERICA CORPcall	$232,000	+3766.7%	6,000	+200.0%	0.05%	+1666.7%
	New	AMERICAN AIRLS GROUP INCcall	$215,000	–	3,000	–	0.05%	–
	New	GENERAL MTRS COcall	$135,000	–	7,000	–	0.03%	–
	New	HERTZ GLOBAL HLDGS INCcall	$82,000	–	1,500	–	0.02%	–
	Exit	SELECT SECTOR SPDR TRcall	$0	–	-2,000	–	-0.00%	–
	Exit	WELLS FARGO CO NEWcall	$0	–	-2,000	–	-0.03%	–

Q2 2022

			Value		Shares		↓ Weighting
VLRS	New	CONTROLADORA VUELA COMP DE Aspon adr rp 10	$62,944,000	–	6,128,882	–	30.36%	–
GOOGL	New	ALPHABET INCcap stk cl a	$29,307,000	–	13,448	–	14.14%	–
RYAAY	New	RYANAIR HOLDINGS PLCsponsored ads	$22,402,000	–	333,112	–	10.81%	–
SAH	New	SONIC AUTOMOTIVE INCcl a	$21,074,000	–	575,326	–	10.17%	–
FB	New	META PLATFORMS INCcl a	$16,767,000	–	103,979	–	8.09%	–
NFLX	New	NETFLIX INC	$13,404,000	–	76,650	–	6.47%	–
UBER	New	UBER TECHNOLOGIES INC	$7,714,000	–	377,025	–	3.72%	–
ULTA	New	ULTA BEAUTY INC	$7,523,000	–	19,516	–	3.63%	–
GM	New	GENERAL MTRS CO	$7,183,000	–	226,150	–	3.46%	–
	New	PERIMETER SOLUTIONS SA	$5,149,000	–	475,000	–	2.48%	–
INTC	New	INTEL CORP	$3,657,000	–	97,670	–	1.76%	–
STNE	New	STONECO LTD	$3,229,000	–	419,298	–	1.56%	–
MU	New	MICRON TECHNOLOGY INC	$2,729,000	–	49,200	–	1.32%	–
	New	LIFE TIME GROUP HOLDINGS INC	$2,215,000	–	172,002	–	1.07%	–
HPQ	New	HP INC	$829,000	–	25,300	–	0.40%	–
AAL	New	AMERICAN AIRLS GROUP INC	$609,000	–	48,000	–	0.29%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$335,000	–	25,300	–	0.16%	–
	New	UBER TECHNOLOGIES INCcall	$86,000	–	3,000	–	0.04%	–
DXC	New	DXC TECHNOLOGY CO	$66,000	–	2,173	–	0.03%	–
	New	WELLS FARGO CO NEWcall	$55,000	–	2,000	–	0.03%	–
	New	MICRO FOCUS INTL PLCspon adr new	$10,000	–	2,882	–	0.01%	–
	New	SELECT SECTOR SPDR TRcall	$8,000	–	2,000	–	0.00%	–
	New	BK OF AMERICA CORPcall	$6,000	–	2,000	–	0.00%	–
ACVA	New	ACV AUCTIONS INC	$3,000	–	500	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
ACVA	Exit	ACV AUCTIONS INC	$0	–	-500	–	-0.00%	–
	Exit	MICRO FOCUS INTL PLCspon adr new	$0	–	-2,882	–	-0.00%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-2,173	–	-0.02%	–
	Exit	LYFT INCcall	$0	–	-2,000	–	-0.06%	–
	Exit	FORD MTR CO DELcall	$0	–	-3,000	–	-0.07%	–
	Exit	ALLY FINL INCcall	$0	–	-4,000	–	-0.08%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-25,300	–	-0.08%	–
	Exit	FACEBOOK INCcall	$0	–	-2,000	–	-0.08%	–
	Exit	CARMAX INCput	$0	–	-550	–	-0.10%	–
	Exit	AMERICAN AIRLS GROUP INCcall	$0	–	-6,000	–	-0.13%	–
	Exit	HUNTSMAN CORPcall	$0	–	-7,025	–	-0.15%	–
HPQ	Exit	HP INC	$0	–	-25,300	–	-0.15%	–
	Exit	BK OF AMERICA CORPcall	$0	–	-3,500	–	-0.16%	–
AAL	Exit	AMERICAN AIRLS GROUP INC	$0	–	-48,000	–	-0.22%	–
	Exit	WELLS FARGO CO NEWcall	$0	–	-4,000	–	-0.22%	–
	Exit	ARK ETF TRput	$0	–	-3,000	–	-0.30%	–
	Exit	UBER TECHNOLOGIES INCcall	$0	–	-3,000	–	-0.30%	–
	Exit	GENERAL MTRS COcall	$0	–	-5,500	–	-0.32%	–
GDDY	Exit	GODADDY INCcl a	$0	–	-39,404	–	-0.61%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-49,200	–	-0.78%	–
DOCN	Exit	DIGITALOCEAN HLDGS INC	$0	–	-60,375	–	-1.04%	–
INTC	Exit	INTEL CORP	$0	–	-97,670	–	-1.16%	–
JD	Exit	JD.COM INCspon adr cl a	$0	–	-100,000	–	-1.61%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-74,406	–	-2.45%	–
GM	Exit	GENERAL MTRS CO	$0	–	-234,649	–	-2.76%	–
KMX	Exit	CARMAX INC	$0	–	-120,515	–	-3.44%	–
ULTA	Exit	ULTA BEAUTY INC	$0	–	-52,609	–	-4.23%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-477,189	–	-4.76%	–
SAH	Exit	SONIC AUTOMOTIVE INCcl a	$0	–	-575,326	–	-6.73%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-13,448	–	-8.01%	–
RYAAY	Exit	RYANAIR HOLDINGS PLCsponsored ads	$0	–	-370,612	–	-9.08%	–
NFLX	Exit	NETFLIX INC	$0	–	-69,673	–	-9.47%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-153,979	–	-11.64%	–
VLRS	Exit	CONTROLADORA VUELA COMP DE Aspon adr rp 10	$0	–	-6,128,882	–	-29.77%	–

Q3 2021

			Value		Shares		↓ Weighting
RYAAY	Sell	RYANAIR HOLDINGS PLCsponsored ads	$40,790,000	-5.9%	370,612	-7.5%	9.08%	-9.7%
SAH	Buy	SONIC AUTOMOTIVE INCcl a	$30,228,000	+74.8%	575,326	+48.8%	6.73%	+67.6%
UBER	Buy	UBER TECHNOLOGIES INC	$21,378,000	+42.2%	477,189	+59.1%	4.76%	+36.4%
KMX	Sell	CARMAX INC	$15,421,000	-18.2%	120,515	-17.4%	3.44%	-21.5%
GM	Sell	GENERAL MTRS CO	$12,368,000	-30.3%	234,649	-21.8%	2.76%	-33.2%
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$11,016,000	-22.5%	74,406	+18.8%	2.45%	-25.6%
DOCN	New	DIGITALOCEAN HLDGS INC	$4,687,000	–	60,375	–	1.04%	–
MU	Sell	MICRON TECHNOLOGY INC	$3,492,000	-58.6%	49,200	-50.4%	0.78%	-60.3%
GDDY	New	GODADDY INCcl a	$2,746,000	–	39,404	–	0.61%	–
	Buy	UBER TECHNOLOGIES INCcall	$1,366,000	+123.9%	3,000	+50.0%	0.30%	+114.1%
	New	ARK ETF TRput	$1,350,000	–	3,000	–	0.30%	–
	Sell	BK OF AMERICA CORPcall	$721,000	-13.0%	3,500	-30.0%	0.16%	-16.1%
	New	HUNTSMAN CORPcall	$674,000	–	7,025	–	0.15%	–
	New	AMERICAN AIRLS GROUP INCcall	$603,000	–	6,000	–	0.13%	–
	New	CARMAX INCput	$446,000	–	550	–	0.10%	–
	Buy	FACEBOOK INCcall	$365,000	-69.5%	2,000	+300.0%	0.08%	-70.8%
	Sell	ALLY FINL INCcall	$339,000	-58.0%	4,000	-20.0%	0.08%	-59.6%
	New	LYFT INCcall	$267,000	–	2,000	–	0.06%	–
	Exit	SELECT SECTOR SPDR TRcall	$0	–	-6,000	–	-0.03%	–
	Exit	CITIGROUP INCcall	$0	–	-1,500	–	-0.06%	–
	Exit	SPIRIT AIRLS INCcall	$0	–	-3,000	–	-0.10%	–
	Exit	ALIBABA GROUP HLDG LTDcall	$0	–	-1,000	–	-0.22%	–
	Exit	MICRON TECHNOLOGY INCcall	$0	–	-4,000	–	-0.29%	–
	Exit	MORGAN STANLEYcall	$0	–	-3,000	–	-0.37%	–
MGA	Exit	MAGNA INTL INC	$0	–	-35,859	–	-0.77%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-225,872	–	-1.60%	–

Q2 2021

			Value		Shares		↓ Weighting
VLRS	New	CONTROLADORA VUELA COMP DE Aspon adr rp 10	$117,736,000	–	6,128,882	–	27.34%	–
FB	New	FACEBOOK INCcl a	$53,540,000	–	153,979	–	12.43%	–
RYAAY	New	RYANAIR HOLDINGS PLCsponsored ads	$43,333,000	–	400,450	–	10.06%	–
NFLX	New	NETFLIX INC	$36,802,000	–	69,673	–	8.54%	–
GOOGL	New	ALPHABET INCcap stk cl a	$32,837,000	–	13,448	–	7.62%	–
KMX	New	CARMAX INC	$18,845,000	–	145,918	–	4.38%	–
ULTA	New	ULTA BEAUTY INC	$18,191,000	–	52,609	–	4.22%	–
GM	New	GENERAL MTRS CO	$17,751,000	–	300,000	–	4.12%	–
SAH	New	SONIC AUTOMOTIVE INCcl a	$17,297,000	–	386,617	–	4.02%	–
UBER	New	UBER TECHNOLOGIES INC	$15,036,000	–	300,000	–	3.49%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$14,208,000	–	62,653	–	3.30%	–
MU	New	MICRON TECHNOLOGY INC	$8,432,000	–	99,200	–	1.96%	–
JD	New	JD.COM INCspon adr cl a	$7,981,000	–	100,000	–	1.85%	–
SAVE	New	SPIRIT AIRLS INC	$6,876,000	–	225,872	–	1.60%	–
INTC	New	INTEL CORP	$5,482,000	–	97,670	–	1.27%	–
MGA	New	MAGNA INTL INC	$3,322,000	–	35,859	–	0.77%	–
	New	MORGAN STANLEYcall	$1,583,000	–	3,000	–	0.37%	–
	New	MICRON TECHNOLOGY INCcall	$1,237,000	–	4,000	–	0.29%	–
	New	FACEBOOK INCcall	$1,195,000	–	500	–	0.28%	–
	New	WELLS FARGO CO NEWcall	$1,070,000	–	4,000	–	0.25%	–
	New	GENERAL MTRS COcall	$1,022,000	–	5,500	–	0.24%	–
AAL	New	AMERICAN AIRLS GROUP INC	$1,018,000	–	48,000	–	0.24%	–
	New	ALIBABA GROUP HLDG LTDcall	$949,000	–	1,000	–	0.22%	–
	New	BK OF AMERICA CORPcall	$829,000	–	5,000	–	0.19%	–
	New	ALLY FINL INCcall	$808,000	–	5,000	–	0.19%	–
HPQ	New	HP INC	$764,000	–	25,300	–	0.18%	–
	New	FORD MTR CO DELcall	$639,000	–	3,000	–	0.15%	–
	New	UBER TECHNOLOGIES INCcall	$610,000	–	2,000	–	0.14%	–
	New	SPIRIT AIRLS INCcall	$434,000	–	3,000	–	0.10%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$369,000	–	25,300	–	0.09%	–
	New	CITIGROUP INCcall	$244,000	–	1,500	–	0.06%	–
	New	SELECT SECTOR SPDR TRcall	$118,000	–	6,000	–	0.03%	–
DXC	New	DXC TECHNOLOGY CO	$85,000	–	2,173	–	0.02%	–
	New	MICRO FOCUS INTL PLCspon adr new	$22,000	–	2,882	–	0.01%	–
ACVA	New	ACV AUCTIONS INC	$13,000	–	500	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
	Exit	CVS HEALTH CORPcall	$0	–	-4,000	–	-0.00%	–
	Exit	MICRO FOCUS INTL PLCspon adr new	$0	–	-2,882	–	-0.00%	–
	Exit	CARMAX INCcall	$0	–	-1,000	–	-0.01%	–
PRSP	Exit	PERSPECTA INC	$0	–	-1,086	–	-0.01%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-2,173	–	-0.02%	–
	Exit	BK OF AMERICA CORPcall	$0	–	-5,000	–	-0.02%	–
	Exit	BRISTOL-MYERS SQUIBB COcall	$0	–	-2,000	–	-0.03%	–
	Exit	GENERAL MTRS COcall	$0	–	-3,500	–	-0.04%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-25,300	–	-0.10%	–
	Exit	ALLY FINL INCcall	$0	–	-2,000	–	-0.11%	–
	Exit	SELECT SECTOR SPDR TRcall	$0	–	-9,000	–	-0.14%	–
	Exit	AMERICAN AIRLS GROUP INCcall	$0	–	-5,000	–	-0.17%	–
HPQ	Exit	HP INC	$0	–	-25,300	–	-0.20%	–
AAL	Exit	AMERICAN AIRLS GROUP INC	$0	–	-48,000	–	-0.25%	–
	Exit	UBER TECHNOLOGIES INCcall	$0	–	-3,000	–	-0.59%	–
BMYRT	Exit	BRISTOL-MYERS SQUIBB COright 99/99/9999	$0	–	-1,000,000	–	-0.95%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-49,200	–	-0.98%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-90,665	–	-1.40%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-225,872	–	-1.54%	–
GM	Exit	GENERAL MTRS CO	$0	–	-150,000	–	-1.87%	–
INTC	Exit	INTEL CORP	$0	–	-97,670	–	-2.13%	–
JD	Exit	JD.COM INCspon adr cl a	$0	–	-100,000	–	-3.28%	–
ULTA	Exit	ULTA BEAUTY INC	$0	–	-39,656	–	-3.75%	–
KMX	Exit	CARMAX INC	$0	–	-119,462	–	-4.63%	–
SAH	Exit	SONIC AUTOMOTIVE INCcl a	$0	–	-322,279	–	-5.46%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-62,653	–	-7.77%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-13,448	–	-8.32%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-103,979	–	-11.49%	–
NFLX	Exit	NETFLIX INC	$0	–	-62,673	–	-13.22%	–
RYAAY	Exit	RYANAIR HOLDINGS PLCsponsored ads	$0	–	-400,450	–	-13.81%	–
VLRS	Exit	CONTROLADORA VUELA COMP DE Aspon adr rp 10	$0	–	-5,828,882	–	-17.73%	–

Q3 2020

			Value		Shares		↓ Weighting
NFLX	Sell	NETFLIX INC	$31,338,000	-2.6%	62,673	-11.3%	13.22%	-18.2%
FB	Sell	FACEBOOK INCcl a	$27,232,000	+1.4%	103,979	-12.1%	11.49%	-14.9%
BABA	Buy	ALIBABA GROUP HLDG LTDsponsored ads	$18,419,000	+78.0%	62,653	+30.6%	7.77%	+49.5%
SAH	Buy	SONIC AUTOMOTIVE INCcl a	$12,943,000	+121.4%	322,279	+75.9%	5.46%	+86.0%
KMX	Buy	CARMAX INC	$10,980,000	+529.9%	119,462	+513.8%	4.63%	+428.9%
ULTA	Buy	ULTA BEAUTY INC	$8,882,000	+47.2%	39,656	+33.7%	3.75%	+23.7%
GM	New	GENERAL MTRS CO	$4,439,000	–	150,000	–	1.87%	–
SAVE	New	SPIRIT AIRLS INC	$3,637,000	–	225,872	–	1.54%	–
	Buy	UBER TECHNOLOGIES INCcall	$1,403,000	+3908.6%	3,000	+50.0%	0.59%	+3188.9%
	New	AMERICAN AIRLS GROUP INCcall	$408,000	–	5,000	–	0.17%	–
	Buy	SELECT SECTOR SPDR TRcall	$320,000	-25.4%	9,000	+50.0%	0.14%	-37.5%
	New	ALLY FINL INCcall	$253,000	–	2,000	–	0.11%	–
	New	GENERAL MTRS COcall	$96,000	–	3,500	–	0.04%	–
	Buy	BK OF AMERICA CORPcall	$40,000	-74.2%	5,000	+66.7%	0.02%	-78.2%
	New	CARMAX INCcall	$13,000	–	1,000	–	0.01%	–
	Buy	CVS HEALTH CORPcall	$4,000	-99.3%	4,000	+100.0%	0.00%	-99.3%
	Exit	MICRON TECHNOLOGY INCcall	$0	–	-1,000	–	-0.07%	–
	Exit	CARGURUS INCcall	$0	–	-2,000	–	-0.11%	–
	Exit	EBAY INC.call	$0	–	-2,000	–	-0.28%	–
	Exit	SPDR S&P 500 ETF TRput	$0	–	-600	–	-0.72%	–
VRM	Exit	VROOM INC	$0	–	-46,637	–	-1.22%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-71,423	–	-2.33%	–
NVDA	Exit	NVIDIA CORPORATION	$0	–	-17,874	–	-3.41%	–

Q2 2020

			Value		Shares		↓ Weighting
NFLX	New	NETFLIX INC	$32,164,000	–	70,683	–	16.16%	–
VLRS	New	CONTROLADORA VUELA COMP DE Aspon adr rp 10	$30,776,000	–	5,828,882	–	15.46%	–
FB	New	FACEBOOK INCcl a	$26,866,000	–	118,315	–	13.50%	–
RYAAY	New	RYANAIR HOLDINGS PLCsponsored ads	$26,566,000	–	400,450	–	13.34%	–
GOOGL	New	ALPHABET INCcap stk cl a	$19,070,000	–	13,448	–	9.58%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$10,348,000	–	47,973	–	5.20%	–
NVDA	New	NVIDIA CORPORATION	$6,791,000	–	17,874	–	3.41%	–
ULTA	New	ULTA BEAUTY INC	$6,033,000	–	29,656	–	3.03%	–
JD	New	JD.COM INCspon adr cl a	$6,018,000	–	100,000	–	3.02%	–
SAH	New	SONIC AUTOMOTIVE INCcl a	$5,845,000	–	183,168	–	2.94%	–
INTC	New	INTEL CORP	$5,843,000	–	97,670	–	2.94%	–
CVS	New	CVS HEALTH CORP	$4,640,000	–	71,423	–	2.33%	–
BMYRT	New	BRISTOL-MYERS SQUIBB COright 99/99/9999	$3,580,000	–	1,000,000	–	1.80%	–
UBER	New	UBER TECHNOLOGIES INC	$2,818,000	–	90,665	–	1.42%	–
MU	New	MICRON TECHNOLOGY INC	$2,534,000	–	49,200	–	1.27%	–
VRM	New	VROOM INC	$2,432,000	–	46,637	–	1.22%	–
KMX	New	CARMAX INC	$1,743,000	–	19,462	–	0.88%	–
	New	SPDR S&P 500 ETF TRput	$1,439,000	–	600	–	0.72%	–
AAL	New	AMERICAN AIRLS GROUP INC	$627,000	–	48,000	–	0.32%	–
	New	CVS HEALTH CORPcall	$578,000	–	2,000	–	0.29%	–
	New	EBAY INC.call	$554,000	–	2,000	–	0.28%	–
HPQ	New	HP INC	$441,000	–	25,300	–	0.22%	–
	New	SELECT SECTOR SPDR TRcall	$429,000	–	6,000	–	0.22%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$246,000	–	25,300	–	0.12%	–
	New	CARGURUS INCcall	$225,000	–	2,000	–	0.11%	–
	New	BK OF AMERICA CORPcall	$155,000	–	3,000	–	0.08%	–
	New	MICRON TECHNOLOGY INCcall	$138,000	–	1,000	–	0.07%	–
	New	BRISTOL-MYERS SQUIBB COcall	$60,000	–	2,000	–	0.03%	–
	New	UBER TECHNOLOGIES INCcall	$35,000	–	2,000	–	0.02%	–
DXC	New	DXC TECHNOLOGY CO	$36,000	–	2,173	–	0.02%	–
PRSP	New	PERSPECTA INC	$25,000	–	1,086	–	0.01%	–
	New	MICRO FOCUS INTL PLCspon adr new	$16,000	–	2,882	–	0.01%	–

Q4 2019

			Value		Shares		↓ Weighting
PRSP	Exit	PERSPECTA INC	$0	–	-1,086	–	-0.01%	–
	Exit	MICRO FOCUS INTERNATIONAL PLspon adr new	$0	–	-2,882	–	-0.01%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-2,173	–	-0.02%	–
	Exit	GRUBHUB INCcall	$0	–	-500	–	-0.03%	–
	Exit	AMERICAN AIRLS GROUP INCcall	$0	–	-4,000	–	-0.03%	–
	Exit	SPIRIT AIRLS INCcall	$0	–	-1,500	–	-0.04%	–
	Exit	BANK AMER CORPcall	$0	–	-3,000	–	-0.07%	–
	Exit	NETFLIX INCcall	$0	–	-600	–	-0.09%	–
	Exit	NETFLIX INCput	$0	–	-650	–	-0.12%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-25,300	–	-0.13%	–
HPQ	Exit	HP INC	$0	–	-25,300	–	-0.16%	–
AAL	Exit	AMERICAN AIRLS GROUP INC	$0	–	-48,000	–	-0.44%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-49,200	–	-0.72%	–
VIV	Exit	TELEFONICA BRASIL SAsponsored adr	$0	–	-180,892	–	-0.81%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-2,170	–	-0.90%	–
MTG	Exit	MGIC INVT CORP WIS	$0	–	-300,000	–	-1.29%	–
ASR	Exit	GRUPO AEROPORTUARIO DEL SUREspon adr ser b	$0	–	-24,834	–	-1.29%	–
INTC	Exit	INTEL CORP	$0	–	-97,670	–	-1.72%	–
AIGWS	Exit	AMERICAN INTL GROUP INC*w exp 01/19/202	$0	–	-443,207	–	-2.15%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-99,407	–	-3.99%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-498,576	–	-6.17%	–
C	Exit	CITIGROUP INC	$0	–	-266,992	–	-6.29%	–
RYAAY	Exit	RYANAIR HLDGS PLCsponsored ads	$0	–	-326,220	–	-7.38%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-17,931	–	-7.46%	–
BAC	Exit	BANK AMER CORP	$0	–	-1,132,102	–	-11.25%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-252,623	–	-15.33%	–
VLRS	Exit	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$0	–	-4,710,804	–	-15.69%	–
NFLX	Exit	NETFLIX INC	$0	–	-179,702	–	-16.39%	–

Q3 2019

			Value		Shares		↓ Weighting
NFLX	Buy	NETFLIX INC	$48,092,000	-20.5%	179,702	+9.1%	16.39%	-15.9%
FB	Buy	FACEBOOK INCcl a	$44,987,000	+5.5%	252,623	+14.4%	15.33%	+11.7%
BAC	Sell	BANK AMER CORP	$33,023,000	+0.2%	1,132,102	-0.3%	11.25%	+6.1%
SAVE	Buy	SPIRIT AIRLS INC	$18,098,000	-20.2%	498,576	+5.0%	6.17%	-15.5%
JPM	Sell	JPMORGAN CHASE & CO	$11,699,000	+3.4%	99,407	-1.8%	3.99%	+9.4%
AIGWS	Sell	AMERICAN INTL GROUP INC*w exp 01/19/202	$6,321,000	+16.0%	443,207	-0.4%	2.15%	+22.7%
AAL	Sell	AMERICAN AIRLS GROUP INC	$1,295,000	-22.9%	48,000	-6.8%	0.44%	-18.5%
	Buy	NETFLIX INCput	$349,000	-30.8%	650	+30.0%	0.12%	-26.5%
	Buy	NETFLIX INCcall	$276,000	+7.0%	600	+500.0%	0.09%	+13.3%
	Buy	BANK AMER CORPcall	$213,000	+131.5%	3,000	+100.0%	0.07%	+143.3%
	Sell	SPIRIT AIRLS INCcall	$120,000	-36.8%	1,500	-62.5%	0.04%	-32.8%
	Sell	AMERICAN AIRLS GROUP INCcall	$98,000	-91.8%	4,000	-42.9%	0.03%	-91.4%
	Sell	GRUBHUB INCcall	$95,000	-93.7%	500	-80.0%	0.03%	-93.4%
	Exit	ALPHABET INCcall	$0	–	-250	–	-0.01%	–
	Exit	ISHARES TRput	$0	–	-3,000	–	-0.01%	–
EBAY	Exit	EBAY INC	$0	–	-3,300	–	-0.04%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-2,910	–	-0.05%	–
MIC	Exit	MACQUARIE INFRASTRUCTURE COR	$0	–	-4,000	–	-0.05%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-3,000	–	-0.05%	–
AES	Exit	AES CORP	$0	–	-10,700	–	-0.06%	–
	Exit	MICRON TECHNOLOGY INCcall	$0	–	-2,000	–	-0.09%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-3,300	–	-0.12%	–
	Exit	WELLS FARGO CO NEWcall	$0	–	-3,000	–	-0.14%	–
	Exit	SPDR S&P 500 ETF TRput	$0	–	-250	–	-0.14%	–
	Exit	INVESCO QQQ TRput	$0	–	-3,000	–	-0.15%	–
	Exit	CITIGROUP INCcall	$0	–	-3,000	–	-0.18%	–
	Exit	FACEBOOK INCcall	$0	–	-2,000	–	-0.42%	–
	Exit	AMERICAN INTL GROUP INCcall	$0	–	-3,000	–	-0.42%	–

Q2 2019

			Value		Shares		↓ Weighting
NFLX	New	NETFLIX INC	$60,498,000	–	164,702	–	19.48%	–
VLRS	New	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$44,187,000	–	4,710,804	–	14.23%	–
FB	New	FACEBOOK INCcl a	$42,634,000	–	220,901	–	13.73%	–
BAC	New	BANK AMER CORP	$32,944,000	–	1,136,016	–	10.61%	–
SAVE	New	SPIRIT AIRLS INC	$22,670,000	–	474,957	–	7.30%	–
RYAAY	New	RYANAIR HLDGS PLCsponsored ads	$20,924,000	–	326,220	–	6.74%	–
GOOGL	New	ALPHABET INCcap stk cl a	$19,416,000	–	17,931	–	6.25%	–
C	New	CITIGROUP INC	$18,697,000	–	266,992	–	6.02%	–
JPM	New	JPMORGAN CHASE & CO	$11,315,000	–	101,207	–	3.64%	–
AIGWS	New	AMERICAN INTL GROUP INC*w exp 01/19/202	$5,451,000	–	445,007	–	1.76%	–
INTC	New	INTEL CORP	$4,675,000	–	97,670	–	1.50%	–
ASR	New	GRUPO AEROPORTUARIO DEL SUREspon adr ser b	$4,026,000	–	24,834	–	1.30%	–
MTG	New	MGIC INVT CORP WIS	$3,942,000	–	300,000	–	1.27%	–
VIV	New	TELEFONICA BRASIL SAsponsored adr	$2,355,000	–	180,892	–	0.76%	–
GOOG	New	ALPHABET INCcap stk cl c	$2,346,000	–	2,170	–	0.76%	–
MU	New	MICRON TECHNOLOGY INC	$1,899,000	–	49,200	–	0.61%	–
AAL	New	AMERICAN AIRLS GROUP INC	$1,679,000	–	51,500	–	0.54%	–
	New	GRUBHUB INCcall	$1,510,000	–	2,500	–	0.49%	–
	New	AMERICAN INTL GROUP INCcall	$1,313,000	–	3,000	–	0.42%	–
	New	FACEBOOK INCcall	$1,315,000	–	2,000	–	0.42%	–
	New	AMERICAN AIRLS GROUP INCcall	$1,189,000	–	7,000	–	0.38%	–
	New	CITIGROUP INCcall	$566,000	–	3,000	–	0.18%	–
HPQ	New	HP INC	$526,000	–	25,300	–	0.17%	–
	New	NETFLIX INCput	$504,000	–	500	–	0.16%	–
	New	INVESCO QQQ TRput	$465,000	–	3,000	–	0.15%	–
	New	SPDR S&P 500 ETF TRput	$450,000	–	250	–	0.14%	–
	New	WELLS FARGO CO NEWcall	$435,000	–	3,000	–	0.14%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$378,000	–	25,300	–	0.12%	–
PYPL	New	PAYPAL HLDGS INC	$378,000	–	3,300	–	0.12%	–
	New	MICRON TECHNOLOGY INCcall	$278,000	–	2,000	–	0.09%	–
	New	NETFLIX INCcall	$258,000	–	100	–	0.08%	–
	New	SPIRIT AIRLS INCcall	$190,000	–	4,000	–	0.06%	–
AES	New	AES CORP	$179,000	–	10,700	–	0.06%	–
AIG	New	AMERICAN INTL GROUP INC	$160,000	–	3,000	–	0.05%	–
MIC	New	MACQUARIE INFRASTRUCTURE COR	$162,000	–	4,000	–	0.05%	–
CVS	New	CVS HEALTH CORP	$159,000	–	2,910	–	0.05%	–
EBAY	New	EBAY INC	$130,000	–	3,300	–	0.04%	–
DXC	New	DXC TECHNOLOGY CO	$120,000	–	2,173	–	0.04%	–
	New	BANK AMER CORPcall	$92,000	–	1,500	–	0.03%	–
	New	MICRO FOCUS INTERNATIONAL PLspon adr new	$75,000	–	2,882	–	0.02%	–
PRSP	New	PERSPECTA INC	$25,000	–	1,086	–	0.01%	–
	New	ISHARES TRput	$23,000	–	3,000	–	0.01%	–
	New	ALPHABET INCcall	$14,000	–	250	–	0.01%	–

Q4 2018

			Value		Shares		↓ Weighting
	Exit	HERTZ GLOBAL HLDGS INCcall	$0	–	-1,000	–	-0.00%	–
PRSP	Exit	PERSPECTA INC	$0	–	-1,086	–	-0.01%	–
MFGP	Exit	MICRO FOCUS INTERNATIONAL PLspon adr new	$0	–	-3,474	–	-0.02%	–
EBAY	Exit	EBAY INC	$0	–	-3,300	–	-0.04%	–
	Exit	PANDORA MEDIA INCcall	$0	–	-2,000	–	-0.04%	–
	Exit	BANK AMER CORPcall	$0	–	-3,000	–	-0.04%	–
AES	Exit	AES CORP	$0	–	-10,700	–	-0.05%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-3,000	–	-0.05%	–
MIC	Exit	MACQUARIE INFRASTRUCTURE COR	$0	–	-4,000	–	-0.06%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-2,173	–	-0.06%	–
	Exit	UNDER ARMOUR INCcall	$0	–	-3,000	–	-0.07%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-2,910	–	-0.07%	–
	Exit	FIAT CHRYSLER AUTOMOBILES Ncall	$0	–	-4,000	–	-0.08%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-3,300	–	-0.09%	–
	Exit	DELTA AIR LINES INC DELcall	$0	–	-2,000	–	-0.11%	–
	Exit	MORGAN STANLEYcall	$0	–	-9,000	–	-0.11%	–
	Exit	SPIRIT AIRLS INCcall	$0	–	-2,000	–	-0.12%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-25,300	–	-0.13%	–
	Exit	STARS GROUP INCcall	$0	–	-3,000	–	-0.18%	–
HTZGQ	Exit	HERTZ GLOBAL HLDGS INC	$0	–	-33,466	–	-0.18%	–
CAR	Exit	AVIS BUDGET GROUP	$0	–	-17,835	–	-0.18%	–
	Exit	MGIC INVT CORP WIScall	$0	–	-6,000	–	-0.21%	–
HPQ	Exit	HP INC	$0	–	-25,300	–	-0.21%	–
	Exit	CITIGROUP INCcall	$0	–	-4,000	–	-0.21%	–
	Exit	AMERICAN AIRLS GROUP INCcall	$0	–	-6,000	–	-0.22%	–
SAH	Exit	SONIC AUTOMOTIVE INCcl a	$0	–	-43,200	–	-0.27%	–
	Exit	CELGENE CORPcall	$0	–	-1,000	–	-0.39%	–
	Exit	FACEBOOK INCcall	$0	–	-4,000	–	-0.50%	–
CA	Exit	CA INC	$0	–	-39,375	–	-0.56%	–
VIV	Exit	TELEFONICA BRASIL SAsponsored adr	$0	–	-180,892	–	-0.57%	–
AAL	Exit	AMERICAN AIRLS GROUP INC	$0	–	-51,500	–	-0.68%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-49,200	–	-0.72%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-2,170	–	-0.83%	–
UAL	Exit	UNITED CONTL HLDGS INC	$0	–	-33,010	–	-0.95%	–
FCAU	Exit	FIAT CHRYSLER AUTOMOBILES N	$0	–	-199,831	–	-1.13%	–
JPMWS	Exit	JPMORGAN CHASE & CO*w exp 10/28/201	$0	–	-51,298	–	-1.20%	–
INTC	Exit	INTEL CORP	$0	–	-97,670	–	-1.49%	–
ASR	Exit	GRUPO AEROPORTUARIO DEL SUREspon adr ser b	$0	–	-24,834	–	-1.64%	–
AN	Exit	AUTONATION INC	$0	–	-137,600	–	-1.84%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-100,511	–	-1.87%	–
AIGWS	Exit	AMERICAN INTL GROUP INC*w exp 01/19/202	$0	–	-445,007	–	-2.10%	–
CELG	Exit	CELGENE CORP	$0	–	-72,909	–	-2.10%	–
P	Exit	PANDORA MEDIA INC	$0	–	-770,600	–	-2.36%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-69,580	–	-2.53%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-342,237	–	-5.18%	–
BAC	Exit	BANK AMER CORP	$0	–	-556,256	–	-5.28%	–
C	Exit	CITIGROUP INC	$0	–	-253,092	–	-5.85%	–
BACWSA	Exit	BANK AMER CORP*w exp 01/16/201	$0	–	-1,036,797	–	-5.94%	–
RYAAY	Exit	RYANAIR HLDGS PLCsponsored adr ne	$0	–	-194,170	–	-6.00%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-119,326	–	-6.32%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-16,306	–	-6.34%	–
VLRS	Exit	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$0	–	-4,710,804	–	-11.32%	–
NFLX	Exit	NETFLIX INC	$0	–	-178,652	–	-21.52%	–

Q3 2018

			Value		Shares		↓ Weighting
NFLX	Buy	NETFLIX INC	$66,839,000	+7.6%	178,652	+12.6%	21.52%	-2.3%
VLRS	Buy	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$35,143,000	+57.8%	4,710,804	+7.4%	11.32%	+43.2%
P	Buy	PANDORA MEDIA INC	$7,328,000	+60.2%	770,600	+32.7%	2.36%	+45.4%
	New	FACEBOOK INCcall	$1,550,000	–	4,000	–	0.50%	–
	New	AMERICAN AIRLS GROUP INCcall	$674,000	–	6,000	–	0.22%	–
	Sell	CITIGROUP INCcall	$662,000	-29.3%	4,000	-11.1%	0.21%	-35.8%
	Buy	MGIC INVT CORP WIScall	$647,000	+304.4%	6,000	+50.0%	0.21%	+264.9%
	New	STARS GROUP INCcall	$543,000	–	3,000	–	0.18%	–
	Buy	SPIRIT AIRLS INCcall	$363,000	+179.2%	2,000	+100.0%	0.12%	+154.3%
	Buy	MORGAN STANLEYcall	$355,000	+113.9%	9,000	+350.0%	0.11%	+93.2%
	Buy	FIAT CHRYSLER AUTOMOBILES Ncall	$255,000	+200.0%	4,000	+100.0%	0.08%	+173.3%
	New	UNDER ARMOUR INCcall	$216,000	–	3,000	–	0.07%	–
	Sell	BANK AMER CORPcall	$119,000	-50.0%	3,000	-40.0%	0.04%	-54.8%
	New	PANDORA MEDIA INCcall	$116,000	–	2,000	–	0.04%	–
	Buy	HERTZ GLOBAL HLDGS INCcall	$8,000	+700.0%	1,000	+100.0%	0.00%	–
	Exit	MICRON TECHNOLOGY INCcall	$0	–	-1,000	–	-0.02%	–
	Exit	NETFLIX INCput	$0	–	-350	–	-0.10%	–
	Exit	JPMORGAN CHASE & COcall	$0	–	-2,500	–	-0.14%	–

Q2 2018

			Value		Shares		↓ Weighting
NFLX	New	NETFLIX INC	$62,101,000	–	158,652	–	22.02%	–
FB	New	FACEBOOK INCcl a	$23,187,000	–	119,326	–	8.22%	–
VLRS	New	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$22,277,000	–	4,385,147	–	7.90%	–
RYAAY	New	RYANAIR HLDGS PLCsponsored adr ne	$22,180,000	–	194,170	–	7.87%	–
GOOGL	New	ALPHABET INCcap stk cl a	$18,413,000	–	16,306	–	6.53%	–
C	New	CITIGROUP INC	$16,937,000	–	253,092	–	6.01%	–
BACWSA	New	BANK AMER CORP*w exp 01/16/201	$16,933,000	–	1,036,797	–	6.00%	–
BAC	New	BANK AMER CORP	$15,681,000	–	556,256	–	5.56%	–
SAVE	New	SPIRIT AIRLS INC	$12,440,000	–	342,237	–	4.41%	–
JPM	New	JPMORGAN CHASE & CO	$7,261,000	–	69,580	–	2.58%	–
AN	New	AUTONATION INC	$6,685,000	–	137,600	–	2.37%	–
AIGWS	New	AMERICAN INTL GROUP INC*w exp 01/19/202	$6,456,000	–	445,007	–	2.29%	–
CELG	New	CELGENE CORP	$5,790,000	–	72,909	–	2.05%	–
DAL	New	DELTA AIR LINES INC DEL	$4,979,000	–	100,511	–	1.77%	–
INTC	New	INTEL CORP	$4,855,000	–	97,670	–	1.72%	–
P	New	PANDORA MEDIA INC	$4,575,000	–	580,600	–	1.62%	–
ASR	New	GRUPO AEROPORTUARIO DEL SUREspon adr ser b	$3,953,000	–	24,834	–	1.40%	–
FCAU	New	FIAT CHRYSLER AUTOMOBILES N	$3,775,000	–	199,831	–	1.34%	–
JPMWS	New	JPMORGAN CHASE & CO*w exp 10/28/201	$3,254,000	–	51,298	–	1.15%	–
MU	New	MICRON TECHNOLOGY INC	$2,580,000	–	49,200	–	0.92%	–
GOOG	New	ALPHABET INCcap stk cl c	$2,421,000	–	2,170	–	0.86%	–
UAL	New	UNITED CONTL HLDGS INC	$2,302,000	–	33,010	–	0.82%	–
VIV	New	TELEFONICA BRASIL SAsponsored adr	$2,147,000	–	180,892	–	0.76%	–
AAL	New	AMERICAN AIRLS GROUP INC	$2,004,000	–	51,500	–	0.71%	–
CA	New	CA INC	$1,404,000	–	39,375	–	0.50%	–
	New	CITIGROUP INCcall	$936,000	–	4,500	–	0.33%	–
SAH	New	SONIC AUTOMOTIVE INCcl a	$890,000	–	43,200	–	0.32%	–
	New	CELGENE CORPcall	$666,000	–	1,000	–	0.24%	–
CAR	New	AVIS BUDGET GROUP	$580,000	–	17,835	–	0.21%	–
HPQ	New	HP INC	$574,000	–	25,300	–	0.20%	–
HTZGQ	New	HERTZ GLOBAL HLDGS INC	$513,000	–	33,466	–	0.18%	–
	New	JPMORGAN CHASE & COcall	$409,000	–	2,500	–	0.14%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$370,000	–	25,300	–	0.13%	–
	New	NETFLIX INCput	$295,000	–	350	–	0.10%	–
PYPL	New	PAYPAL HLDGS INC	$250,000	–	3,300	–	0.09%	–
	New	BANK AMER CORPcall	$238,000	–	5,000	–	0.08%	–
CVS	New	CVS HEALTH CORP	$181,000	–	2,910	–	0.06%	–
DXC	New	DXC TECHNOLOGY CO	$175,000	–	2,173	–	0.06%	–
	New	MORGAN STANLEYcall	$166,000	–	2,000	–	0.06%	–
AIG	New	AMERICAN INTL GROUP INC	$163,000	–	3,000	–	0.06%	–
	New	MGIC INVT CORP WIScall	$160,000	–	4,000	–	0.06%	–
MIC	New	MACQUARIE INFRASTRUCTURE COR	$148,000	–	4,000	–	0.05%	–
EBAY	New	EBAY INC	$133,000	–	3,300	–	0.05%	–
	New	SPIRIT AIRLS INCcall	$130,000	–	1,000	–	0.05%	–
AES	New	AES CORP	$122,000	–	10,700	–	0.04%	–
	New	FIAT CHRYSLER AUTOMOBILES Ncall	$85,000	–	2,000	–	0.03%	–
	New	DELTA AIR LINES INC DELcall	$71,000	–	2,000	–	0.02%	–
	New	MICRON TECHNOLOGY INCcall	$58,000	–	1,000	–	0.02%	–
MFGP	New	MICRO FOCUS INTERNATIONAL PLspon adr new	$60,000	–	3,474	–	0.02%	–
PRSP	New	PERSPECTA INC	$22,000	–	1,086	–	0.01%	–
	New	HERTZ GLOBAL HLDGS INCcall	$1,000	–	500	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
	Exit	TEVA PHARMACEUTICAL INDS LTDcall	$0	–	-1,800	–	-0.00%	–
	Exit	SPIRIT AIRLS INCcall	$0	–	-1,000	–	-0.01%	–
	Exit	MICRO FOCUS INTERNATIONAL PL	$0	–	-3,474	–	-0.05%	–
AES	Exit	AES CORP	$0	–	-10,700	–	-0.05%	–
EBAY	Exit	EBAY INC	$0	–	-3,300	–	-0.06%	–
	Exit	MORGAN STANLEYcall	$0	–	-1,000	–	-0.08%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-3,000	–	-0.08%	–
DXC	Exit	DXC TECHNOLOGY CO	$0	–	-2,173	–	-0.08%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-3,300	–	-0.10%	–
	Exit	TWITTER INCcall	$0	–	-2,000	–	-0.10%	–
	Exit	BANK AMER CORPcall	$0	–	-3,000	–	-0.10%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-2,910	–	-0.11%	–
MIC	Exit	MACQUARIE INFRASTRUCTURE COR	$0	–	-4,000	–	-0.13%	–
	Exit	SELECT SECTOR SPDR TRcall	$0	–	-3,000	–	-0.13%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-25,300	–	-0.17%	–
HPQ	Exit	HP INC	$0	–	-25,300	–	-0.23%	–
	Exit	RADIAN GROUP INCcall	$0	–	-6,000	–	-0.45%	–
	Exit	MGIC INVT CORP WIScall	$0	–	-10,000	–	-0.50%	–
CA	Exit	CA INC	$0	–	-39,375	–	-0.59%	–
P	Exit	PANDORA MEDIA INC	$0	–	-206,754	–	-0.72%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-49,200	–	-0.87%	–
UAL	Exit	UNITED CONTL HLDGS INC	$0	–	-33,010	–	-0.90%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-2,170	–	-0.94%	–
	Exit	CITIGROUP INCcall	$0	–	-6,000	–	-1.03%	–
AN	Exit	AUTONATION INC	$0	–	-50,400	–	-1.08%	–
AAL	Exit	AMERICAN AIRLS GROUP INC	$0	–	-51,500	–	-1.10%	–
JPMWS	Exit	JPMORGAN CHASE & CO*w exp 10/28/201	$0	–	-51,298	–	-1.25%	–
VIV	Exit	TELEFONICA BRASIL SAsponsored adr	$0	–	-180,892	–	-1.29%	–
RDN	Exit	RADIAN GROUP INC	$0	–	-178,398	–	-1.50%	–
MTG	Exit	MGIC INVT CORP WIS	$0	–	-280,621	–	-1.58%	–
FCAU	Exit	FIAT CHRYSLER AUTOMOBILES N	$0	–	-199,831	–	-1.61%	–
INTC	Exit	INTEL CORP	$0	–	-97,670	–	-1.67%	–
ASR	Exit	GRUPO AEROPORTUARIO DEL SUREspon adr ser b	$0	–	-24,834	–	-2.13%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-20,327	–	-2.17%	–
HTZGQ	Exit	HERTZ GLOBAL HLDGS INC	$0	–	-221,000	–	-2.22%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-153,937	–	-2.31%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-118,811	–	-2.57%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-79,180	–	-3.40%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-50,126	–	-3.85%	–
AIGWS	Exit	AMERICAN INTL GROUP INC*w exp 01/19/202	$0	–	-445,007	–	-4.00%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-9,938	–	-4.35%	–
CAR	Exit	AVIS BUDGET GROUP	$0	–	-275,250	–	-4.71%	–
CELG	Exit	CELGENE CORP	$0	–	-82,709	–	-5.42%	–
C	Exit	CITIGROUP INC	$0	–	-166,792	–	-5.45%	–
RYAAY	Exit	RYANAIR HLDGS PLCsponsored adr ne	$0	–	-129,470	–	-6.13%	–
BACWSA	Exit	BANK AMER CORP*w exp 01/16/201	$0	–	-1,036,797	–	-6.17%	–
VLRS	Exit	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$0	–	-1,217,943	–	-6.50%	–
BAC	Exit	BANK AMER CORP	$0	–	-590,756	–	-6.73%	–
NFLX	Exit	NETFLIX INC	$0	–	-164,152	–	-13.37%	–

Q3 2017

			Value		Shares		↓ Weighting
VLRS	Buy	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$14,457,000	-7.3%	1,217,943	+13.6%	6.50%	-14.9%
CAR	Buy	AVIS BUDGET GROUP	$10,476,000	+99.5%	275,250	+42.9%	4.71%	+83.2%
HTZGQ	Buy	HERTZ GLOBAL HLDGS INC	$4,942,000	+257.3%	221,000	+83.7%	2.22%	+227.9%
	Buy	CITIGROUP INCcall	$2,301,000	+307.3%	6,000	+200.0%	1.03%	+274.6%
	Sell	BANK AMER CORPcall	$219,000	-48.3%	3,000	-57.1%	0.10%	-52.7%
PYPL	New	PAYPAL HLDGS INC	$211,000	–	3,300	–	0.10%	–
DXC	New	DXC TECHNOLOGY CO	$187,000	–	2,173	–	0.08%	–
	Sell	MORGAN STANLEYcall	$179,000	-60.4%	1,000	-60.0%	0.08%	-63.8%
EBAY	New	EBAY INC	$127,000	–	3,300	–	0.06%	–
	New	MICRO FOCUS INTERNATIONAL PL	$111,000	–	3,474	–	0.05%	–
	Exit	DISNEY WALT COcall	$0	–	-1,200	–	-0.00%	–
	Exit	FIAT CHRYSLER AUTOMOBILES Ncall	$0	–	-1,000	–	-0.01%	–
	Exit	FACEBOOK INCcall	$0	–	-500	–	-0.12%	–
NRZ	Exit	NEW RESIDENTIAL INVT CORP	$0	–	-84,400	–	-0.64%	–

Q2 2017

			Value		Shares		↓ Weighting
NFLX	New	NETFLIX INC	$24,526,000	–	164,152	–	12.00%	–
VLRS	New	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$15,596,000	–	1,071,890	–	7.63%	–
BAC	New	BANK AMER CORP	$14,332,000	–	590,756	–	7.01%	–
RYAAY	New	RYANAIR HLDGS PLCsponsored adr ne	$13,932,000	–	129,470	–	6.82%	–
BACWSA	New	BANK AMER CORP*w exp 01/16/201	$12,483,000	–	1,036,797	–	6.11%	–
C	New	CITIGROUP INC	$11,155,000	–	166,792	–	5.46%	–
CELG	New	CELGENE CORP	$10,741,000	–	82,709	–	5.26%	–
AIGWS	New	AMERICAN INTL GROUP INC*w exp 01/19/202	$9,381,000	–	445,007	–	4.59%	–
GOOGL	New	ALPHABET INCcap stk cl a	$9,239,000	–	9,938	–	4.52%	–
SAVE	New	SPIRIT AIRLS INC	$7,951,000	–	153,937	–	3.89%	–
FB	New	FACEBOOK INCcl a	$7,568,000	–	50,126	–	3.70%	–
JPM	New	JPMORGAN CHASE & CO	$7,237,000	–	79,180	–	3.54%	–
DAL	New	DELTA AIR LINES INC DEL	$6,385,000	–	118,811	–	3.12%	–
CAR	New	AVIS BUDGET GROUP	$5,251,000	–	192,550	–	2.57%	–
ASR	New	GRUPO AEROPORTUARIO DEL SUREspon adr ser b	$5,225,000	–	24,834	–	2.56%	–
GS	New	GOLDMAN SACHS GROUP INC	$4,511,000	–	20,327	–	2.21%	–
INTC	New	INTEL CORP	$3,295,000	–	97,670	–	1.61%	–
MTG	New	MGIC INVT CORP WIS	$3,143,000	–	280,621	–	1.54%	–
RDN	New	RADIAN GROUP INC	$2,917,000	–	178,398	–	1.43%	–
AAL	New	AMERICAN AIRLS GROUP INC	$2,591,000	–	51,500	–	1.27%	–
JPMWS	New	JPMORGAN CHASE & CO*w exp 10/28/201	$2,580,000	–	51,298	–	1.26%	–
UAL	New	UNITED CONTL HLDGS INC	$2,484,000	–	33,010	–	1.22%	–
VIV	New	TELEFONICA BRASIL SAsponsored adr	$2,440,000	–	180,892	–	1.19%	–
AN	New	AUTONATION INC	$2,125,000	–	50,400	–	1.04%	–
FCAU	New	FIAT CHRYSLER AUTOMOBILES N	$2,124,000	–	199,831	–	1.04%	–
GOOG	New	ALPHABET INCcap stk cl c	$1,972,000	–	2,170	–	0.96%	–
P	New	PANDORA MEDIA INC	$1,844,000	–	206,754	–	0.90%	–
MU	New	MICRON TECHNOLOGY INC	$1,469,000	–	49,200	–	0.72%	–
HTZGQ	New	HERTZ GLOBAL HLDGS INC	$1,383,000	–	120,300	–	0.68%	–
CA	New	CA INC	$1,357,000	–	39,375	–	0.66%	–
NRZ	New	NEW RESIDENTIAL INVT CORP	$1,313,000	–	84,400	–	0.64%	–
	New	MGIC INVT CORP WIScall	$685,000	–	10,000	–	0.34%	–
	New	CITIGROUP INCcall	$565,000	–	2,000	–	0.28%	–
	New	RADIAN GROUP INCcall	$515,000	–	6,000	–	0.25%	–
	New	TWITTER INCcall	$476,000	–	2,000	–	0.23%	–
	New	MORGAN STANLEYcall	$452,000	–	2,500	–	0.22%	–
HPQ	New	HP INC	$442,000	–	25,300	–	0.22%	–
	New	BANK AMER CORPcall	$424,000	–	7,000	–	0.21%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$420,000	–	25,300	–	0.21%	–
	New	TEVA PHARMACEUTICAL INDS LTDcall	$362,000	–	1,800	–	0.18%	–
MIC	New	MACQUARIE INFRASTRUCTURE COR	$314,000	–	4,000	–	0.15%	–
	New	FACEBOOK INCcall	$253,000	–	500	–	0.12%	–
CVS	New	CVS HEALTH CORP	$234,000	–	2,910	–	0.12%	–
	New	SELECT SECTOR SPDR TRcall	$209,000	–	3,000	–	0.10%	–
AIG	New	AMERICAN INTL GROUP INC	$188,000	–	3,000	–	0.09%	–
AES	New	AES CORP	$119,000	–	10,700	–	0.06%	–
	New	SPIRIT AIRLS INCcall	$108,000	–	1,000	–	0.05%	–
	New	FIAT CHRYSLER AUTOMOBILES Ncall	$25,000	–	1,000	–	0.01%	–
	New	DISNEY WALT COcall	$5,000	–	1,200	–	0.00%	–

Q4 2016

			Value		Shares		↓ Weighting
RBA	Exit	RITCHIE BROS AUCTIONEERS	$0	–	-1,200	–	-0.04%	–
	Exit	NETFLIX INCcall	$0	–	-500	–	-0.04%	–
OCN	Exit	OCWEN FINL CORP	$0	–	-14,000	–	-0.05%	–
EBAY	Exit	EBAY INC	$0	–	-3,300	–	-0.10%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-2,910	–	-0.23%	–
MIC	Exit	MACQUARIE INFRASTRUCTURE COR	$0	–	-4,000	–	-0.30%	–
HPQ	Exit	HP INC	$0	–	-25,300	–	-0.36%	–
HPE	Exit	HEWLETT PACKARD ENTERPRISE C	$0	–	-25,300	–	-0.52%	–
JPMWS	Exit	JPMORGAN CHASE & CO*w exp 10/28/201	$0	–	-27,600	–	-0.62%	–
AES	Exit	AES CORP	$0	–	-60,450	–	-0.70%	–
CPA	Exit	COPA HOLDINGS SAcl a	$0	–	-8,800	–	-0.71%	–
LL	Exit	LUMBER LIQUIDATORS HLDGS INC	$0	–	-40,000	–	-0.72%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-49,200	–	-0.80%	–
DKS	Exit	DICKS SPORTING GOODS INC	$0	–	-18,100	–	-0.94%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-27,980	–	-1.04%	–
CA	Exit	CA INC	$0	–	-39,375	–	-1.19%	–
P	Exit	PANDORA MEDIA INC	$0	–	-98,100	–	-1.28%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-2,170	–	-1.54%	–
UAL	Exit	UNITED CONTL HLDGS INC	$0	–	-33,010	–	-1.58%	–
AAL	Exit	AMERICAN AIRLS GROUP INC	$0	–	-51,500	–	-1.72%	–
RDN	Exit	RADIAN GROUP INC	$0	–	-151,700	–	-1.88%	–
MTG	Exit	MGIC INVT CORP WIS	$0	–	-262,900	–	-1.92%	–
AIGWS	Exit	AMERICAN INTL GROUP INC*w exp 01/19/202	$0	–	-100,450	–	-1.94%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-59,450	–	-2.13%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-15,329	–	-2.26%	–
LUV	Exit	SOUTHWEST AIRLS CO	$0	–	-64,911	–	-2.30%	–
VIV	Exit	TELEFONICA BRASIL SAsponsored adr	$0	–	-180,892	–	-2.39%	–
BACWSA	Exit	BANK AMER CORP*w exp 01/16/201	$0	–	-644,900	–	-2.72%	–
ASR	Exit	GRUPO AEROPORTUARIO DEL SUREspon adr ser b	$0	–	-24,834	–	-3.32%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-61,319	–	-3.32%	–
INTC	Exit	INTEL CORP	$0	–	-97,670	–	-3.36%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-30,118	–	-3.52%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-69,606	–	-4.23%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-5,832	–	-4.28%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-117,637	–	-4.56%	–
VLRS	Exit	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$0	–	-288,000	–	-4.57%	–
CELG	Exit	CELGENE CORP	$0	–	-51,302	–	-4.89%	–
RYAAY	Exit	RYANAIR HLDGS PLCsponsored adr ne	$0	–	-89,552	–	-6.13%	–
C	Exit	CITIGROUP INC	$0	–	-147,083	–	-6.34%	–
BAC	Exit	BANK AMER CORP	$0	–	-520,075	–	-7.42%	–
NFLX	Exit	NETFLIX INC	$0	–	-134,067	–	-12.05%	–

Q3 2016

			Value		Shares		↓ Weighting
NFLX	Sell	NETFLIX INC	$13,212,000	-20.3%	134,067	-26.1%	12.05%	-11.3%
BAC	Buy	BANK AMER CORP	$8,139,000	+55.8%	520,075	+32.1%	7.42%	+73.6%
C	Sell	CITIGROUP INC	$6,947,000	-14.9%	147,083	-23.6%	6.34%	-5.2%
RYAAY	Buy	RYANAIR HLDGS PLCsponsored adr ne	$6,719,000	+90.4%	89,552	+76.5%	6.13%	+112.2%
CELG	Buy	CELGENE CORP	$5,363,000	+39.5%	51,302	+31.6%	4.89%	+55.4%
VLRS	Sell	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$5,008,000	-40.9%	288,000	-36.5%	4.57%	-34.1%
SAVE	Sell	SPIRIT AIRLS INC	$5,003,000	-34.1%	117,637	-30.5%	4.56%	-26.6%
GOOGL	Sell	ALPHABET INCcap stk cl a	$4,689,000	-31.4%	5,832	-40.0%	4.28%	-23.6%
JPM	Sell	JPMORGAN CHASE & CO	$4,634,000	+1.2%	69,606	-5.5%	4.23%	+12.8%
FB	Buy	FACEBOOK INCcl a	$3,863,000	+37.3%	30,118	+22.3%	3.52%	+53.0%
AIG	Buy	AMERICAN INTL GROUP INC	$3,637,000	+326.4%	61,319	+280.4%	3.32%	+375.2%
BACWSA	Sell	BANK AMER CORP*w exp 01/16/201	$2,979,000	-52.6%	644,900	-64.3%	2.72%	-47.2%
LUV	Buy	SOUTHWEST AIRLS CO	$2,524,000	+55.8%	64,911	+57.1%	2.30%	+73.6%
GS	Buy	GOLDMAN SACHS GROUP INC	$2,472,000	+48.5%	15,329	+36.8%	2.26%	+65.4%
DAL	Buy	DELTA AIR LINES INC DEL	$2,340,000	+13.7%	59,450	+5.2%	2.13%	+26.6%
AIGWS	Sell	AMERICAN INTL GROUP INC*w exp 01/19/202	$2,129,000	-60.5%	100,450	-65.1%	1.94%	-56.0%
MTG	New	MGIC INVT CORP WIS	$2,103,000	–	262,900	–	1.92%	–
RDN	Sell	RADIAN GROUP INC	$2,056,000	-2.7%	151,700	-25.2%	1.88%	+8.4%
AAL	New	AMERICAN AIRLS GROUP INC	$1,888,000	–	51,500	–	1.72%	–
GOOG	Sell	ALPHABET INCcap stk cl c	$1,687,000	-19.9%	2,170	-28.7%	1.54%	-10.8%
P	Buy	PANDORA MEDIA INC	$1,406,000	+54.3%	98,100	+34.0%	1.28%	+71.8%
DKS	Sell	DICKS SPORTING GOODS INC	$1,027,000	-39.1%	18,100	-51.6%	0.94%	-32.1%
CPA	Sell	COPA HOLDINGS SAcl a	$774,000	+28.8%	8,800	-23.5%	0.71%	+43.5%
JPMWS	Sell	JPMORGAN CHASE & CO*w exp 10/28/201	$680,000	-82.7%	27,600	-85.8%	0.62%	-80.7%
	Exit	POWERSHARES QQQ TRUSTput	$0	–	-500	–	-0.00%	–
	Exit	DELTA AIR LINES INC DELcall	$0	–	-500	–	-0.00%	–
	Exit	BANK AMER CORPcall	$0	–	-2,000	–	-0.00%	–
	Exit	MGIC INVT CORP WIScall	$0	–	-500	–	-0.01%	–
	Exit	WELLS FARGO & CO NEWcall	$0	–	-750	–	-0.01%	–
	Exit	MORGAN STANLEYcall	$0	–	-1,000	–	-0.02%	–
	Exit	SELECT SECTOR SPDR TRput	$0	–	-2,500	–	-0.03%	–
	Exit	SPDR S&P 500 ETF TRput	$0	–	-1,000	–	-0.04%	–
	Exit	JPMORGAN CHASE & COcall	$0	–	-250	–	-0.06%	–
	Exit	PANDORA MEDIA INCcall	$0	–	-1,000	–	-0.07%	–
	Exit	CITIGROUP INCcall	$0	–	-1,500	–	-0.27%	–
	Exit	COCA COLA COcall	$0	–	-3,000	–	-0.34%	–
YELP	Exit	YELP INCcl a	$0	–	-23,100	–	-0.57%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-6,100	–	-0.82%	–
VRX	Exit	VALEANT PHARMACEUTICALS INTL	$0	–	-50,100	–	-0.83%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-1,530	–	-1.56%	–
	Exit	AMERICAN AIRLS GROUP INC	$0	–	-97,605	–	-2.26%	–

Q2 2016

			Value		Shares		↓ Weighting
NFLX	New	NETFLIX INC	$16,587,000	–	181,315	–	13.58%	–
VLRS	New	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$8,472,000	–	453,300	–	6.94%	–
C	New	CITIGROUP INC	$8,162,000	–	192,542	–	6.68%	–
SAVE	New	SPIRIT AIRLS INC	$7,591,000	–	169,187	–	6.22%	–
GOOGL	New	ALPHABET INCcap stk cl a	$6,839,000	–	9,721	–	5.60%	–
BACWSA	New	BANK AMER CORP*w exp 01/16/201	$6,283,000	–	1,805,504	–	5.14%	–
AIGWS	New	AMERICAN INTL GROUP INC*w exp 01/19/202	$5,385,000	–	288,130	–	4.41%	–
BAC	New	BANK AMER CORP	$5,224,000	–	393,699	–	4.28%	–
JPM	New	JPMORGAN CHASE & CO	$4,578,000	–	73,678	–	3.75%	–
ASR	New	GRUPO AEROPORTUARIO DEL SUREspon adr ser b	$3,962,000	–	24,834	–	3.24%	–
JPMWS	New	JPMORGAN CHASE & CO*w exp 10/28/201	$3,931,000	–	194,130	–	3.22%	–
CELG	New	CELGENE CORP	$3,845,000	–	38,982	–	3.15%	–
RYAAY	New	RYANAIR HLDGS PLCsponsored adr ne	$3,528,000	–	50,736	–	2.89%	–
INTC	New	INTEL CORP	$3,204,000	–	97,670	–	2.62%	–
FB	New	FACEBOOK INCcl a	$2,814,000	–	24,626	–	2.30%	–
	New	AMERICAN AIRLS GROUP INC	$2,763,000	–	97,605	–	2.26%	–
VIV	New	TELEFONICA BRASIL SAsponsored adr	$2,460,000	–	180,892	–	2.01%	–
RDN	New	RADIAN GROUP INC	$2,112,000	–	202,700	–	1.73%	–
GOOG	New	ALPHABET INCcap stk cl c	$2,107,000	–	3,044	–	1.72%	–
DAL	New	DELTA AIR LINES INC DEL	$2,058,000	–	56,500	–	1.68%	–
PCLN	New	PRICELINE GRP INC	$1,910,000	–	1,530	–	1.56%	–
DKS	New	DICKS SPORTING GOODS INC	$1,685,000	–	37,400	–	1.38%	–
GS	New	GOLDMAN SACHS GROUP INC	$1,665,000	–	11,206	–	1.36%	–
LUV	New	SOUTHWEST AIRLS CO	$1,620,000	–	41,311	–	1.33%	–
UAL	New	UNITED CONTL HLDGS INC	$1,355,000	–	33,010	–	1.11%	–
CA	New	CA INC	$1,293,000	–	39,375	–	1.06%	–
PYPL	New	PAYPAL HLDGS INC	$1,022,000	–	27,980	–	0.84%	–
VRX	New	VALEANT PHARMACEUTICALS INTL	$1,009,000	–	50,100	–	0.83%	–
BIDU	New	BAIDU INCspon adr rep a	$1,007,000	–	6,100	–	0.82%	–
P	New	PANDORA MEDIA INC	$911,000	–	73,200	–	0.75%	–
AIG	New	AMERICAN INTL GROUP INC	$853,000	–	16,119	–	0.70%	–
AES	New	AES CORP	$754,000	–	60,450	–	0.62%	–
YELP	New	YELP INCcl a	$701,000	–	23,100	–	0.57%	–
MU	New	MICRON TECHNOLOGY INC	$677,000	–	49,200	–	0.55%	–
LL	New	LUMBER LIQUIDATORS HLDGS INC	$617,000	–	40,000	–	0.50%	–
CPA	New	COPA HOLDINGS SAcl a	$601,000	–	11,500	–	0.49%	–
HPE	New	HEWLETT PACKARD ENTERPRISE C	$462,000	–	25,300	–	0.38%	–
	New	COCA COLA COcall	$415,000	–	3,000	–	0.34%	–
	New	CITIGROUP INCcall	$335,000	–	1,500	–	0.27%	–
HPQ	New	HP INC	$318,000	–	25,300	–	0.26%	–
MIC	New	MACQUARIE INFRASTRUCTURE COR	$296,000	–	4,000	–	0.24%	–
CVS	New	CVS HEALTH CORP	$279,000	–	2,910	–	0.23%	–
	New	PANDORA MEDIA INCcall	$86,000	–	1,000	–	0.07%	–
	New	JPMORGAN CHASE & COcall	$78,000	–	250	–	0.06%	–
EBAY	New	EBAY INC	$77,000	–	3,300	–	0.06%	–
	New	SPDR S&P 500 ETF TRput	$47,000	–	1,000	–	0.04%	–
RBA	New	RITCHIE BROS AUCTIONEERS	$41,000	–	1,200	–	0.03%	–
	New	SELECT SECTOR SPDR TRput	$34,000	–	2,500	–	0.03%	–
	New	MORGAN STANLEYcall	$24,000	–	1,000	–	0.02%	–
OCN	New	OCWEN FINL CORP	$24,000	–	14,000	–	0.02%	–
	New	WELLS FARGO & CO NEWcall	$11,000	–	750	–	0.01%	–
	New	NETFLIX INCcall	$11,000	–	500	–	0.01%	–
	New	MGIC INVT CORP WIScall	$7,000	–	500	–	0.01%	–
	New	BANK AMER CORPcall	$5,000	–	2,000	–	0.00%	–
	New	DELTA AIR LINES INC DELcall	$4,000	–	500	–	0.00%	–
	New	POWERSHARES QQQ TRUSTput	$1,000	–	500	–	0.00%	–

Q4 2015

			Value		Shares		↓ Weighting
	Exit	METLIFE INCcall	$0	–	-2,000	–	-0.00%	–
	Exit	ISHARES TRput	$0	–	-1,000	–	-0.01%	–
	Exit	POWERSHARES QQQ TRUSTput	$0	–	-750	–	-0.01%	–
GMWSC	Exit	GENERAL MTRS CO*w exp 12/31/201	$0	–	-183,700	–	-0.01%	–
	Exit	AMERICAN AIRLS GROUP INCcall	$0	–	-1,500	–	-0.01%	–
	Exit	CAPITAL ONE FINL CORPcall	$0	–	-500	–	-0.01%	–
	Exit	KEURIG GREEN MTN INCcall	$0	–	-500	–	-0.01%	–
	Exit	OCWEN FINL CORPcall	$0	–	-4,000	–	-0.01%	–
	Exit	UNITED CONTL HLDGS INCcall	$0	–	-500	–	-0.02%	–
	Exit	MORGAN STANLEYcall	$0	–	-2,000	–	-0.02%	–
	Exit	WELLS FARGO & CO NEWput	$0	–	-1,000	–	-0.02%	–
RBA	Exit	RITCHIE BROS AUCTIONEERS	$0	–	-1,200	–	-0.02%	–
	Exit	DELTA AIR LINES INC DELput	$0	–	-500	–	-0.02%	–
	Exit	FACEBOOK INCcall	$0	–	-500	–	-0.02%	–
	Exit	JPMORGAN CHASE & COcall	$0	–	-1,000	–	-0.02%	–
	Exit	GENERAL MTRS COcall	$0	–	-2,000	–	-0.03%	–
	Exit	DELTA AIR LINES INC DELcall	$0	–	-1,750	–	-0.03%	–
	Exit	SELECT SECTOR SPDR TRput	$0	–	-3,000	–	-0.03%	–
	Exit	BANK AMER CORPput	$0	–	-3,500	–	-0.04%	–
	Exit	BANK AMER CORPcall	$0	–	-5,500	–	-0.04%	–
	Exit	SPDR S&P 500 ETF TRput	$0	–	-500	–	-0.04%	–
	Exit	FIRST TR EXCHANGE TRADED FDput	$0	–	-500	–	-0.05%	–
	Exit	MGIC INVT CORP WIScall	$0	–	-3,550	–	-0.07%	–
	Exit	JPMORGAN CHASE & COput	$0	–	-750	–	-0.07%	–
	Exit	SOUTHWEST AIRLS COcall	$0	–	-2,000	–	-0.09%	–
	Exit	DISNEY WALT COcall	$0	–	-1,500	–	-0.11%	–
	Exit	CITIGROUP INCput	$0	–	-1,000	–	-0.11%	–
	Exit	OFFICE DEPOT INCcall	$0	–	-1,000	–	-0.12%	–
	Exit	POWERSHARES QQQ TRUSTcall	$0	–	-1,500	–	-0.12%	–
	Exit	SPDR S&P 500 ETF TRcall	$0	–	-2,000	–	-0.18%	–
MIC	Exit	MACQUARIE INFRASTRUCTURE COR	$0	–	-4,000	–	-0.21%	–
	Exit	COCA COLA COcall	$0	–	-7,000	–	-0.30%	–
	Exit	CITIGROUP INCcall	$0	–	-4,500	–	-0.33%	–
	Exit	NETFLIX INCcall	$0	–	-1,600	–	-0.34%	–
LL	Exit	LUMBER LIQUIDATORS HLDGS INC	$0	–	-40,000	–	-0.37%	–
AES	Exit	AES CORP	$0	–	-60,450	–	-0.42%	–
HPQ	Exit	HEWLETT PACKARD CO	$0	–	-25,300	–	-0.46%	–
EBAY	Exit	EBAY INC	$0	–	-27,980	–	-0.48%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-49,200	–	-0.52%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-27,980	–	-0.61%	–
OCN	Exit	OCWEN FINL CORP	$0	–	-130,707	–	-0.62%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-16,119	–	-0.65%	–
CA	Exit	CA INC	$0	–	-39,375	–	-0.76%	–
VIV	Exit	TELEFONICA BRASIL SAsponsored adr	$0	–	-180,892	–	-1.17%	–
UAL	Exit	UNITED CONTL HLDGS INC	$0	–	-33,010	–	-1.24%	–
GOOG	Exit	GOOGLE INCcl c	$0	–	-3,044	–	-1.31%	–
SCSS	Exit	SELECT COMFORT CORP	$0	–	-100,000	–	-1.55%	–
GMCR	Exit	KEURIG GREEN MTN INC	$0	–	-42,704	–	-1.58%	–
DSW	Exit	DSW INCcl a	$0	–	-100,000	–	-1.79%	–
MTG	Exit	MGIC INVT CORP WIS	$0	–	-276,800	–	-1.81%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-45,450	–	-1.96%	–
INTC	Exit	INTEL CORP	$0	–	-97,670	–	-2.08%	–
IBB	Exit	ISHARES TRnasdq biotec etf	$0	–	-10,000	–	-2.15%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-76,100	–	-2.42%	–
RYAAY	Exit	RYANAIR HLDGS PLCsponsored adr	$0	–	-45,341	–	-2.51%	–
ASR	Exit	GRUPO AEROPORTUARIO DEL SUREspon adr ser b	$0	–	-24,834	–	-2.68%	–
JPMWS	Exit	JPMORGAN CHASE & CO*w exp 10/28/201	$0	–	-215,700	–	-3.04%	–
MET	Exit	METLIFE INC	$0	–	-100,000	–	-3.34%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-49,578	–	-3.38%	–
RDN	Exit	RADIAN GROUP INC	$0	–	-335,500	–	-3.78%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-9,730	–	-4.40%	–
C	Exit	CITIGROUP INC	$0	–	-141,300	–	-4.96%	–
AIGWS	Exit	AMERICAN INTL GROUP INC*w exp 01/19/202	$0	–	-317,500	–	-5.10%	–
AAL	Exit	AMERICAN AIRLS GROUP INC	$0	–	-213,303	–	-5.86%	–
VLRS	Exit	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$0	–	-801,300	–	-8.46%	–
BACWSA	Exit	BANK AMER CORP*w exp 01/16/201	$0	–	-1,776,670	–	-8.81%	–
NFLX	Exit	NETFLIX INC	$0	–	-235,046	–	-17.18%	–

Q3 2015

			Value		Shares		↓ Weighting
NFLX	Buy	NETFLIX INC	$24,271,000	-40.1%	235,046	+281.1%	17.18%	-21.8%
BACWSA	Buy	BANK AMER CORP*w exp 01/16/201	$12,447,000	+30.4%	1,776,670	+14.9%	8.81%	+70.4%
VLRS	Sell	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$11,955,000	+2.6%	801,300	-17.9%	8.46%	+33.9%
AAL	Buy	AMERICAN AIRLS GROUP INC	$8,283,000	+10.1%	213,303	+13.3%	5.86%	+43.9%
C	Sell	CITIGROUP INC	$7,010,000	-12.7%	141,300	-2.8%	4.96%	+14.0%
GOOGL	Buy	GOOGLE INCcl a	$6,211,000	+22.0%	9,730	+3.2%	4.40%	+59.3%
RDN	Sell	RADIAN GROUP INC	$5,338,000	-34.7%	335,500	-23.0%	3.78%	-14.7%
DAL	Sell	DELTA AIR LINES INC DEL	$3,415,000	-3.8%	76,100	-11.9%	2.42%	+25.7%
IBB	New	ISHARES TRnasdq biotec etf	$3,033,000	–	10,000	–	2.15%	–
JPM	Sell	JPMORGAN CHASE & CO	$2,771,000	-37.7%	45,450	-30.8%	1.96%	-18.7%
MTG	Sell	MGIC INVT CORP WIS	$2,563,000	-52.8%	276,800	-41.9%	1.81%	-38.3%
GMCR	Sell	KEURIG GREEN MTN INC	$2,227,000	-55.3%	42,704	-34.3%	1.58%	-41.6%
GOOG	Sell	GOOGLE INCcl c	$1,852,000	-38.1%	3,044	-47.0%	1.31%	-19.1%
OCN	Sell	OCWEN FINL CORP	$877,000	-46.1%	130,707	-18.1%	0.62%	-29.6%
PYPL	New	PAYPAL HLDGS INC	$868,000	–	27,980	–	0.61%	–
LL	Sell	LUMBER LIQUIDATORS HLDGS INC	$526,000	-88.5%	40,000	-81.8%	0.37%	-84.9%
	Buy	NETFLIX INCcall	$476,000	+815.4%	1,600	+700.0%	0.34%	+1103.6%
	Sell	CITIGROUP INCcall	$469,000	-59.9%	4,500	-10.0%	0.33%	-47.7%
	Sell	SPDR S&P 500 ETF TRcall	$258,000	+174.5%	2,000	-66.7%	0.18%	+258.8%
	New	POWERSHARES QQQ TRUSTcall	$167,000	–	1,500	–	0.12%	–
	New	CITIGROUP INCput	$161,000	–	1,000	–	0.11%	–
	New	DISNEY WALT COcall	$161,000	–	1,500	–	0.11%	–
	Buy	SOUTHWEST AIRLS COcall	$130,000	+4.0%	2,000	+100.0%	0.09%	+35.3%
	New	JPMORGAN CHASE & COput	$100,000	–	750	–	0.07%	–
	Sell	MGIC INVT CORP WIScall	$99,000	-82.1%	3,550	-22.0%	0.07%	-76.7%
	New	FIRST TR EXCHANGE TRADED FDput	$76,000	–	500	–	0.05%	–
	New	SPDR S&P 500 ETF TRput	$64,000	–	500	–	0.04%	–
	Sell	BANK AMER CORPcall	$60,000	-84.3%	5,500	-15.4%	0.04%	-79.7%
	New	BANK AMER CORPput	$56,000	–	3,500	–	0.04%	–
	Buy	SELECT SECTOR SPDR TRput	$45,000	-68.8%	3,000	+50.0%	0.03%	-59.0%
	Buy	DELTA AIR LINES INC DELcall	$45,000	-56.3%	1,750	+16.7%	0.03%	-42.9%
	Sell	GENERAL MTRS COcall	$43,000	-62.9%	2,000	-73.3%	0.03%	-52.4%
	New	DELTA AIR LINES INC DELput	$32,000	–	500	–	0.02%	–
	New	FACEBOOK INCcall	$33,000	–	500	–	0.02%	–
	New	WELLS FARGO & CO NEWput	$31,000	–	1,000	–	0.02%	–
	Sell	UNITED CONTL HLDGS INCcall	$22,000	-83.6%	500	-66.7%	0.02%	-78.1%
	Sell	CAPITAL ONE FINL CORPcall	$12,000	-97.9%	500	-80.0%	0.01%	-97.4%
	Sell	KEURIG GREEN MTN INCcall	$12,000	-75.5%	500	-70.6%	0.01%	-70.4%
	New	POWERSHARES QQQ TRUSTput	$9,000	–	750	–	0.01%	–
	New	ISHARES TRput	$8,000	–	1,000	–	0.01%	–
	Sell	AMERICAN AIRLS GROUP INCcall	$9,000	-93.8%	1,500	-40.0%	0.01%	-92.4%
	Sell	METLIFE INCcall	$6,000	-99.5%	2,000	-33.3%	0.00%	-99.4%
	Exit	SUNCOR ENERGY INC NEWcall	$0	–	-1,000	–	-0.00%	–
	Exit	AMAZON COM INCcall	$0	–	-50	–	-0.01%	–
	Exit	LINKEDIN CORPcall	$0	–	-200	–	-0.01%	–
	Exit	PROCTER & GAMBLE COcall	$0	–	-500	–	-0.01%	–
	Exit	RESTORATION HARDWARE HLDGS Iput	$0	–	-500	–	-0.01%	–
	Exit	COLGATE PALMOLIVE COcall	$0	–	-900	–	-0.02%	–
	Exit	RESTORATION HARDWARE HLDGS Icall	$0	–	-500	–	-0.03%	–
NBG	Exit	NATIONAL BK GREECE S Aspn adr rep 1 sh	$0	–	-72,500	–	-0.04%	–
	Exit	AMERICAN EAGLE OUTFITTERS NEcall	$0	–	-1,000	–	-0.05%	–
	Exit	JETBLUE AIRWAYS CORPcall	$0	–	-2,000	–	-0.06%	–
	Exit	LUMBER LIQUIDATORS HLDGS INCcall	$0	–	-3,500	–	-0.09%	–
	Exit	ISHARES TRput	$0	–	-500	–	-0.10%	–
	Exit	NETFLIX INCput	$0	–	-300	–	-0.14%	–
	Exit	REALOGY HLDGS CORPcall	$0	–	-1,000	–	-0.17%	–
	Exit	SELECT SECTOR SPDR TRput	$0	–	-2,000	–	-0.18%	–
	Exit	AMERICAN INTL GROUP INCcall	$0	–	-1,500	–	-0.19%	–
	Exit	ISHARES TRput	$0	–	-1,000	–	-0.20%	–
WLK	Exit	WESTLAKE CHEM CORP	$0	–	-25,000	–	-0.93%	–
BAC	Exit	BANK AMER CORP	$0	–	-230,110	–	-2.12%	–

Q2 2015

			Value		Shares		↓ Weighting
NFLX	New	NETFLIX INC	$40,519,000	–	61,678	–	21.96%	–
VLRS	New	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$11,657,000	–	976,300	–	6.32%	–
BACWSA	New	BANK AMER CORP*w exp 01/16/201	$9,542,000	–	1,546,560	–	5.17%	–
AIGWS	New	AMERICAN INTL GROUP INC*w exp 01/19/202	$8,798,000	–	317,500	–	4.77%	–
RDN	New	RADIAN GROUP INC	$8,170,000	–	435,500	–	4.43%	–
C	New	CITIGROUP INC	$8,026,000	–	145,300	–	4.35%	–
AAL	New	AMERICAN AIRLS GROUP INC	$7,520,000	–	188,303	–	4.08%	–
MET	New	METLIFE INC	$5,599,000	–	100,000	–	3.03%	–
MTG	New	MGIC INVT CORP WIS	$5,426,000	–	476,800	–	2.94%	–
JPMWS	New	JPMORGAN CHASE & CO*w exp 10/28/201	$5,339,000	–	215,700	–	2.89%	–
CVS	New	CVS HEALTH CORP	$5,200,000	–	49,578	–	2.82%	–
GOOGL	New	GOOGLE INCcl a	$5,093,000	–	9,430	–	2.76%	–
GMCR	New	KEURIG GREEN MTN INC	$4,981,000	–	65,004	–	2.70%	–
LL	New	LUMBER LIQUIDATORS HLDGS INC	$4,556,000	–	220,000	–	2.47%	–
JPM	New	JPMORGAN CHASE & CO	$4,448,000	–	65,650	–	2.41%	–
BAC	New	BANK AMER CORP	$3,916,000	–	230,110	–	2.12%	–
DAL	New	DELTA AIR LINES INC DEL	$3,549,000	–	86,400	–	1.92%	–
ASR	New	GRUPO AEROPORTUARIO DEL SUREspon adr ser b	$3,523,000	–	24,834	–	1.91%	–
DSW	New	DSW INCcl a	$3,337,000	–	100,000	–	1.81%	–
RYAAY	New	RYANAIR HLDGS PLCsponsored adr	$3,235,000	–	45,341	–	1.75%	–
SCSS	New	SELECT COMFORT CORP	$3,007,000	–	100,000	–	1.63%	–
GOOG	New	GOOGLE INCcl c	$2,990,000	–	5,744	–	1.62%	–
INTC	New	INTEL CORP	$2,971,000	–	97,670	–	1.61%	–
VIV	New	TELEFONICA BRASIL SAsponsored adr	$2,520,000	–	180,892	–	1.37%	–
UAL	New	UNITED CONTL HLDGS INC	$1,750,000	–	33,010	–	0.95%	–
WLK	New	WESTLAKE CHEM CORP	$1,715,000	–	25,000	–	0.93%	–
EBAY	New	EBAY INC	$1,686,000	–	27,980	–	0.91%	–
OCN	New	OCWEN FINL CORP	$1,627,000	–	159,507	–	0.88%	–
	New	CITIGROUP INCcall	$1,171,000	–	5,000	–	0.64%	–
	New	METLIFE INCcall	$1,155,000	–	3,000	–	0.63%	–
CA	New	CA INC	$1,153,000	–	39,375	–	0.62%	–
AIG	New	AMERICAN INTL GROUP INC	$996,000	–	16,119	–	0.54%	–
MU	New	MICRON TECHNOLOGY INC	$927,000	–	49,200	–	0.50%	–
AES	New	AES CORP	$802,000	–	60,450	–	0.44%	–
HPQ	New	HEWLETT PACKARD CO	$759,000	–	25,300	–	0.41%	–
	New	CAPITAL ONE FINL CORPcall	$566,000	–	2,500	–	0.31%	–
	New	MGIC INVT CORP WIScall	$553,000	–	4,550	–	0.30%	–
	New	OCWEN FINL CORPcall	$421,000	–	4,000	–	0.23%	–
	New	COCA COLA COcall	$410,000	–	7,000	–	0.22%	–
	New	BANK AMER CORPcall	$382,000	–	6,500	–	0.21%	–
	New	ISHARES TRput	$375,000	–	1,000	–	0.20%	–
	New	AMERICAN INTL GROUP INCcall	$347,000	–	1,500	–	0.19%	–
	New	OFFICE DEPOT INCcall	$345,000	–	1,000	–	0.19%	–
	New	SELECT SECTOR SPDR TRput	$340,000	–	2,000	–	0.18%	–
MIC	New	MACQUARIE INFRASTRUCTURE COR	$331,000	–	4,000	–	0.18%	–
	New	REALOGY HLDGS CORPcall	$313,000	–	1,000	–	0.17%	–
	New	NETFLIX INCput	$261,000	–	300	–	0.14%	–
	New	JPMORGAN CHASE & COcall	$206,000	–	1,000	–	0.11%	–
	New	ISHARES TRput	$188,000	–	500	–	0.10%	–
	New	LUMBER LIQUIDATORS HLDGS INCcall	$163,000	–	3,500	–	0.09%	–
	New	MORGAN STANLEYcall	$157,000	–	2,000	–	0.08%	–
	New	AMERICAN AIRLS GROUP INCcall	$145,000	–	2,500	–	0.08%	–
	New	SELECT SECTOR SPDR TRput	$144,000	–	2,000	–	0.08%	–
	New	UNITED CONTL HLDGS INCcall	$134,000	–	1,500	–	0.07%	–
	New	SOUTHWEST AIRLS COcall	$125,000	–	1,000	–	0.07%	–
	New	JETBLUE AIRWAYS CORPcall	$120,000	–	2,000	–	0.06%	–
	New	GENERAL MTRS COcall	$116,000	–	7,500	–	0.06%	–
	New	DELTA AIR LINES INC DELcall	$103,000	–	1,500	–	0.06%	–
	New	AMERICAN EAGLE OUTFITTERS NEcall	$98,000	–	1,000	–	0.05%	–
	New	SPDR S&P 500 ETF TRcall	$94,000	–	6,000	–	0.05%	–
NBG	New	NATIONAL BK GREECE S Aspn adr rep 1 sh	$76,000	–	72,500	–	0.04%	–
	New	RESTORATION HARDWARE HLDGS Icall	$60,000	–	500	–	0.03%	–
GMWSC	New	GENERAL MTRS CO*w exp 12/31/201	$53,000	–	183,700	–	0.03%	–
	New	NETFLIX INCcall	$52,000	–	200	–	0.03%	–
	New	KEURIG GREEN MTN INCcall	$49,000	–	1,700	–	0.03%	–
RBA	New	RITCHIE BROS AUCTIONEERS	$34,000	–	1,200	–	0.02%	–
	New	COLGATE PALMOLIVE COcall	$33,000	–	900	–	0.02%	–
	New	RESTORATION HARDWARE HLDGS Iput	$19,000	–	500	–	0.01%	–
	New	PROCTER & GAMBLE COcall	$15,000	–	500	–	0.01%	–
	New	AMAZON COM INCcall	$12,000	–	50	–	0.01%	–
	New	LINKEDIN CORPcall	$12,000	–	200	–	0.01%	–
	New	SUNCOR ENERGY INC NEWcall	$4,000	–	1,000	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
	Exit	ISHAREScall	$0	–	-1,000	–	-0.00%	–
	Exit	EXXON MOBIL CORPcall	$0	–	-1,000	–	-0.00%	–
	Exit	YAHOO INCcall	$0	–	-750	–	-0.00%	–
	Exit	OCWEN FINL CORPcall	$0	–	-1,000	–	-0.00%	–
	Exit	COACH INCcall	$0	–	-500	–	-0.01%	–
	Exit	COCA COLA COcall	$0	–	-600	–	-0.01%	–
RBA	Exit	RITCHIE BROS AUCTIONEERS	$0	–	-1,200	–	-0.02%	–
	Exit	HOME DEPOT INCput	$0	–	-1,000	–	-0.02%	–
	Exit	COLGATE PALMOLIVE COcall	$0	–	-528	–	-0.02%	–
	Exit	SUNCOR ENERGY INC NEWcall	$0	–	-1,500	–	-0.04%	–
	Exit	UNITED CONTL HLDGS INCcall	$0	–	-1,000	–	-0.04%	–
	Exit	AMERICAN AIRLS GROUP INCcall	$0	–	-1,000	–	-0.04%	–
	Exit	AMERICAN INTL GROUP INCcall	$0	–	-2,000	–	-0.05%	–
	Exit	OFFICE DEPOT INCcall	$0	–	-1,000	–	-0.05%	–
	Exit	FREEPORT-MCMORAN INCput	$0	–	-1,000	–	-0.06%	–
	Exit	UNITED STATES OIL FUND LPcall	$0	–	-3,000	–	-0.06%	–
	Exit	MARKET VECTORS ETF TRput	$0	–	-1,000	–	-0.06%	–
	Exit	RESTORATION HARDWARE HLDGS Iput	$0	–	-519	–	-0.07%	–
	Exit	SELECT SECTOR SPDR TRcall	$0	–	-3,000	–	-0.07%	–
	Exit	REALOGY HLDGS CORPcall	$0	–	-2,500	–	-0.09%	–
	Exit	MGIC INVT CORP WIScall	$0	–	-5,100	–	-0.09%	–
	Exit	DSW INCcall	$0	–	-1,000	–	-0.12%	–
	Exit	GENERAL MTRS COcall	$0	–	-2,500	–	-0.13%	–
GMWSC	Exit	GENERAL MTRS CO*w exp 12/31/201	$0	–	-283,700	–	-0.14%	–
	Exit	RADIAN GROUP INCcall	$0	–	-3,500	–	-0.14%	–
MIC	Exit	MACQUARIE INFRASTR CO LLCmembership int	$0	–	-4,000	–	-0.15%	–
OCN	Exit	OCWEN FINL CORP	$0	–	-14,000	–	-0.21%	–
	Exit	APPLE INCcall	$0	–	-2,100	–	-0.22%	–
	Exit	BANK AMER CORPcall	$0	–	-2,500	–	-0.22%	–
	Exit	SPDR S&P 500 ETF TRput	$0	–	-2,000	–	-0.22%	–
	Exit	POWERSHARES QQQ TRUSTput	$0	–	-4,000	–	-0.23%	–
	Exit	JPMORGAN CHASE & COcall	$0	–	-3,500	–	-0.27%	–
	Exit	SOUTHWEST AIRLS COcall	$0	–	-3,000	–	-0.36%	–
	Exit	SELECT SECTOR SPDR TRput	$0	–	-4,000	–	-0.37%	–
	Exit	DELTA AIR LINES INC DELcall	$0	–	-1,250	–	-0.37%	–
	Exit	MORGAN STANLEYcall	$0	–	-4,500	–	-0.40%	–
AES	Exit	AES CORP	$0	–	-60,450	–	-0.50%	–
HPQ	Exit	HEWLETT PACKARD CO	$0	–	-25,300	–	-0.52%	–
	Exit	ISHARES TRput	$0	–	-2,000	–	-0.54%	–
VTNR	Exit	VERTEX ENERGY INC	$0	–	-145,000	–	-0.58%	–
CA	Exit	CA INC	$0	–	-39,375	–	-0.64%	–
	Exit	CITIGROUP INCcall	$0	–	-5,000	–	-0.87%	–
LULU	Exit	LULULEMON ATHLETICA INC	$0	–	-36,000	–	-0.87%	–
UAL	Exit	UNITED CONTL HLDGS INC	$0	–	-33,010	–	-0.89%	–
EBAY	Exit	EBAY INC	$0	–	-27,980	–	-0.92%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-49,200	–	-0.98%	–
	Exit	METLIFE INCcall	$0	–	-5,000	–	-1.00%	–
YHOO	Exit	YAHOO INC	$0	–	-42,800	–	-1.01%	–
	Exit	EBAY INCcall	$0	–	-6,500	–	-1.38%	–
RYAAY	Exit	RYANAIR HLDGS PLCsponsored adr	$0	–	-45,341	–	-1.48%	–
SCSS	Exit	SELECT COMFORT CORP	$0	–	-130,000	–	-1.57%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-86,400	–	-1.81%	–
ASR	Exit	GRUPO AEROPORTUARIO DEL SUREspon adr ser b	$0	–	-24,834	–	-1.84%	–
GOOG	Exit	GOOGLE INCcl c	$0	–	-5,730	–	-1.91%	–
INTC	Exit	INTEL CORP	$0	–	-97,670	–	-1.97%	–
VLRS	Exit	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$0	–	-415,000	–	-2.08%	–
VIV	Exit	TELEFONICA BRASIL SAsponsored adr	$0	–	-185,602	–	-2.11%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-70,500	–	-2.20%	–
BAC	Exit	BANK AMER CORP	$0	–	-230,110	–	-2.27%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-49,578	–	-2.28%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-65,650	–	-2.29%	–
JPMWS	Exit	JPMORGAN CHASE & CO*w exp 10/28/201	$0	–	-215,700	–	-2.51%	–
MTG	Exit	MGIC INVT CORP WIS	$0	–	-626,800	–	-2.83%	–
AAL	Exit	AMERICAN AIRLS GROUP INC	$0	–	-138,303	–	-2.84%	–
RDN	Exit	RADIAN GROUP INC	$0	–	-348,200	–	-2.87%	–
MET	Exit	METLIFE INC	$0	–	-100,000	–	-3.11%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-9,430	–	-3.21%	–
C	Exit	CITIGROUP INC	$0	–	-145,300	–	-4.35%	–
AIGWS	Exit	AMERICAN INTL GROUP INC*w exp 01/19/202	$0	–	-317,500	–	-4.37%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-50,000	–	-5.70%	–
BACWSA	Exit	BANK AMER CORP*w exp 01/16/201	$0	–	-1,496,560	–	-6.49%	–
GMCR	Exit	KEURIG GREEN MTN INC	$0	–	-106,450	–	-8.01%	–
NFLX	Exit	NETFLIX INC	$0	–	-56,878	–	-14.84%	–

Q3 2014

			Value		Shares		↓ Weighting
NFLX	Sell	NETFLIX INC	$25,662,000	-10.2%	56,878	-12.3%	14.84%	-7.7%
GMCR	Sell	KEURIG GREEN MTN INC	$13,852,000	+2.1%	106,450	-2.2%	8.01%	+4.9%
BACWSA	Buy	BANK AMER CORP*w exp 01/16/201	$11,224,000	+13.1%	1,496,560	+3.5%	6.49%	+16.2%
SPY	New	SPDR S&P 500 ETF TRtr unit	$9,851,000	–	50,000	–	5.70%	–
AIGWS	Buy	AMERICAN INTL GROUP INC*w exp 01/19/202	$7,558,000	-1.2%	317,500	+10.4%	4.37%	+1.6%
MET	Buy	METLIFE INC	$5,372,000	+354.1%	100,000	+369.5%	3.11%	+366.5%
RDN	Buy	RADIAN GROUP INC	$4,965,000	+4.8%	348,200	+8.8%	2.87%	+7.6%
AAL	Sell	AMERICAN AIRLS GROUP INC	$4,907,000	-52.5%	138,303	-42.5%	2.84%	-51.2%
MTG	Sell	MGIC INVT CORP WIS	$4,895,000	-29.7%	626,800	-16.8%	2.83%	-27.8%
BAC	Sell	BANK AMER CORP	$3,923,000	-8.9%	230,110	-17.8%	2.27%	-6.3%
AIG	Sell	AMERICAN INTL GROUP INC	$3,808,000	-22.0%	70,500	-21.2%	2.20%	-19.9%
DAL	Sell	DELTA AIR LINES INC DEL	$3,123,000	-49.4%	86,400	-45.8%	1.81%	-48.0%
RYAAY	Sell	RYANAIR HLDGS PLCsponsored adr	$2,559,000	-1.0%	45,341	-2.1%	1.48%	+1.8%
	New	EBAY INCcall	$2,384,000	–	6,500	–	1.38%	–
YHOO	New	YAHOO INC	$1,744,000	–	42,800	–	1.01%	–
	Sell	METLIFE INCcall	$1,729,000	-55.6%	5,000	-56.5%	1.00%	-54.4%
EBAY	Sell	EBAY INC	$1,585,000	+9.9%	27,980	-2.8%	0.92%	+12.9%
LULU	New	LULULEMON ATHLETICA INC	$1,512,000	–	36,000	–	0.87%	–
	Buy	CITIGROUP INCcall	$1,502,000	+204.7%	5,000	+25.0%	0.87%	+213.7%
	Sell	ISHARES TRput	$943,000	+213.3%	2,000	-33.3%	0.54%	+222.5%
	Buy	MORGAN STANLEYcall	$684,000	+744.4%	4,500	+350.0%	0.40%	+760.9%
	Buy	DELTA AIR LINES INC DELcall	$644,000	-2.9%	1,250	+400.0%	0.37%	-0.3%
	Buy	SOUTHWEST AIRLS COcall	$626,000	+303.9%	3,000	+50.0%	0.36%	+316.1%
	New	JPMORGAN CHASE & COcall	$467,000	–	3,500	–	0.27%	–
	Buy	POWERSHARES QQQ TRUSTput	$396,000	+457.7%	4,000	+166.7%	0.23%	+472.5%
	Sell	SPDR S&P 500 ETF TRput	$387,000	-60.6%	2,000	-71.4%	0.22%	-59.4%
	Sell	APPLE INCcall	$375,000	-90.1%	2,100	-57.1%	0.22%	-89.8%
	Sell	BANK AMER CORPcall	$375,000	+56.2%	2,500	-58.3%	0.22%	+60.7%
	Sell	RADIAN GROUP INCcall	$247,000	-40.5%	3,500	-12.5%	0.14%	-38.9%
	Sell	GENERAL MTRS COcall	$218,000	-79.9%	2,500	-61.5%	0.13%	-79.3%
	Sell	MGIC INVT CORP WIScall	$162,000	-76.5%	5,100	-36.6%	0.09%	-75.7%
	Sell	REALOGY HLDGS CORPcall	$150,000	-64.3%	2,500	-28.6%	0.09%	-63.1%
	Sell	SELECT SECTOR SPDR TRcall	$125,000	-48.3%	3,000	-66.7%	0.07%	-47.1%
	Buy	RESTORATION HARDWARE HLDGS Iput	$124,000	+2380.0%	519	+3.8%	0.07%	+2300.0%
	New	MARKET VECTORS ETF TRput	$109,000	–	1,000	–	0.06%	–
	New	FREEPORT-MCMORAN INCput	$98,000	–	1,000	–	0.06%	–
	New	AMERICAN AIRLS GROUP INCcall	$74,000	–	1,000	–	0.04%	–
	New	SUNCOR ENERGY INC NEWcall	$65,000	–	1,500	–	0.04%	–
	New	HOME DEPOT INCput	$29,000	–	1,000	–	0.02%	–
	New	COCA COLA COcall	$23,000	–	600	–	0.01%	–
	Sell	COACH INCcall	$10,000	+150.0%	500	-50.0%	0.01%	+200.0%
	Sell	OCWEN FINL CORPcall	$5,000	-99.5%	1,000	-84.4%	0.00%	-99.5%
	New	YAHOO INCcall	$6,000	–	750	–	0.00%	–
	Sell	ISHAREScall	$3,000	-98.5%	1,000	-50.0%	0.00%	-98.2%
	Sell	EXXON MOBIL CORPcall	$3,000	-98.2%	1,000	-66.7%	0.00%	-97.8%
	Exit	RESTORATION HARDWARE HLDGS Icall	$0	–	-500	–	-0.06%	–
	Exit	PRUDENTIAL FINL INCcall	$0	–	-1,000	–	-0.13%	–
	Exit	ISHAREScall	$0	–	-2,500	–	-0.14%	–
	Exit	GOOGLE INCcall	$0	–	-75	–	-0.15%	–
LL	Exit	LUMBER LIQUIDATORS HLDGS INC	$0	–	-22,600	–	-0.97%	–
TTSH	Exit	TILE SHOP HLDGS INC	$0	–	-243,000	–	-2.09%	–

Q2 2014

			Value		Shares		↓ Weighting
NFLX	New	NETFLIX INC	$28,584,000	–	64,875	–	16.09%	–
GMCR	New	KEURIG GREEN MTN INC	$13,564,000	–	108,850	–	7.63%	–
AAL	New	AMERICAN AIRLS GROUP INC	$10,332,000	–	240,503	–	5.82%	–
BACWSA	New	BANK OF AMERICA CORPORATION*w exp 01/16/201	$9,923,000	–	1,446,560	–	5.58%	–
AIGWS	New	AMERICAN INTL GROUP INC*w exp 01/19/202	$7,648,000	–	287,500	–	4.30%	–
MTG	New	MGIC INVT CORP WIS	$6,965,000	–	753,800	–	3.92%	–
C	New	CITIGROUP INC	$6,844,000	–	145,300	–	3.85%	–
DAL	New	DELTA AIR LINES INC DEL	$6,176,000	–	159,500	–	3.48%	–
GOOGL	New	GOOGLE INCcl a	$5,513,000	–	9,430	–	3.10%	–
AIG	New	AMERICAN INTL GROUP INC	$4,885,000	–	89,500	–	2.75%	–
RDN	New	RADIAN GROUP INC	$4,739,000	–	320,000	–	2.67%	–
BAC	New	BANK OF AMERICA CORPORATION	$4,304,000	–	280,000	–	2.42%	–
JPMWS	New	JPMORGAN CHASE & CO*w exp 10/28/201	$4,169,000	–	215,700	–	2.35%	–
	New	METLIFE INCcall	$3,898,000	–	11,500	–	2.19%	–
VIV	New	TELEFONICA BRASIL SAsponsored adr	$3,807,000	–	185,602	–	2.14%	–
	New	APPLE INCcall	$3,785,000	–	4,900	–	2.13%	–
JPM	New	JPMORGAN CHASE & CO	$3,783,000	–	65,650	–	2.13%	–
CVS	New	CVS CAREMARK CORPORATION	$3,737,000	–	49,578	–	2.10%	–
VLRS	New	CONTROLADORA VUELA CIA DE AVspon adr rp 10	$3,735,000	–	415,000	–	2.10%	–
TTSH	New	TILE SHOP HLDGS INC	$3,715,000	–	243,000	–	2.09%	–
GOOG	New	GOOGLE INCcl c	$3,296,000	–	5,730	–	1.86%	–
ASR	New	GRUPO AEROPORTUARIO DEL SUREspon adr ser b	$3,154,000	–	24,834	–	1.78%	–
INTC	New	INTEL CORP	$3,018,000	–	97,670	–	1.70%	–
SCSS	New	SELECT COMFORT CORP	$2,686,000	–	130,000	–	1.51%	–
RYAAY	New	RYANAIR HLDGS PLCsponsored adr	$2,584,000	–	46,300	–	1.45%	–
LL	New	LUMBER LIQUIDATORS HLDGS INC	$1,716,000	–	22,600	–	0.97%	–
MU	New	MICRON TECHNOLOGY INC	$1,621,000	–	49,200	–	0.91%	–
EBAY	New	EBAY INC	$1,442,000	–	28,800	–	0.81%	–
VTNR	New	VERTEX ENERGY INC	$1,408,000	–	145,000	–	0.79%	–
UAL	New	UNITED CONTL HLDGS INC	$1,356,000	–	33,010	–	0.76%	–
MET	New	METLIFE INC	$1,183,000	–	21,300	–	0.67%	–
CA	New	CA INC	$1,132,000	–	39,375	–	0.64%	–
	New	GENERAL MTRS COcall	$1,084,000	–	6,500	–	0.61%	–
	New	OCWEN FINL CORPcall	$1,081,000	–	6,400	–	0.61%	–
	New	SPDR S&P 500 ETF TRput	$981,000	–	7,000	–	0.55%	–
AES	New	AES CORP	$940,000	–	60,450	–	0.53%	–
HPQ	New	HEWLETT PACKARD CO	$852,000	–	25,300	–	0.48%	–
GMWSC	New	GENERAL MTRS CO*w exp 12/31/201	$712,000	–	283,700	–	0.40%	–
	New	MGIC INVT CORP WIScall	$688,000	–	8,050	–	0.39%	–
	New	DELTA AIR LINES INC DELcall	$663,000	–	250	–	0.37%	–
OCN	New	OCWEN FINL CORP	$519,000	–	14,000	–	0.29%	–
	New	CITIGROUP INCcall	$493,000	–	4,000	–	0.28%	–
	New	REALOGY HLDGS CORPcall	$420,000	–	3,500	–	0.24%	–
	New	RADIAN GROUP INCcall	$415,000	–	4,000	–	0.23%	–
	New	DSW INCcall	$410,000	–	1,000	–	0.23%	–
	New	SELECT SECTOR SPDR TRput	$404,000	–	4,000	–	0.23%	–
	New	UNITED STATES OIL FUND LPcall	$389,000	–	3,000	–	0.22%	–
	New	ISHARESput	$301,000	–	3,000	–	0.17%	–
	New	GOOGLE INCcall	$263,000	–	75	–	0.15%	–
	New	ISHAREScall	$256,000	–	2,500	–	0.14%	–
MIC	New	MACQUARIE INFRASTR CO LLCmembership int	$249,000	–	4,000	–	0.14%	–
	New	SELECT SECTOR SPDR TRcall	$242,000	–	9,000	–	0.14%	–
	New	BANK OF AMERICA CORPORATIONcall	$240,000	–	6,000	–	0.14%	–
	New	PRUDENTIAL FINL INCcall	$229,000	–	1,000	–	0.13%	–
	New	ISHAREScall	$195,000	–	2,000	–	0.11%	–
	New	EXXON MOBIL CORPcall	$163,000	–	3,000	–	0.09%	–
	New	SOUTHWEST AIRLS COcall	$155,000	–	2,000	–	0.09%	–
	New	OFFICE DEPOT INCcall	$130,000	–	1,000	–	0.07%	–
	New	AMERICAN INTL GROUP INCcall	$103,000	–	2,000	–	0.06%	–
	New	RESTORATION HARDWARE HLDGS Icall	$99,000	–	500	–	0.06%	–
	New	COLGATE PALMOLIVE COcall	$89,000	–	528	–	0.05%	–
	New	MORGAN STANLEYcall	$81,000	–	1,000	–	0.05%	–
	New	POWERSHARES QQQ TRUSTput	$71,000	–	1,500	–	0.04%	–
	New	UNITED CONTL HLDGS INCcall	$34,000	–	1,000	–	0.02%	–
RBA	New	RITCHIE BROS AUCTIONEERS	$30,000	–	1,200	–	0.02%	–
	New	RESTORATION HARDWARE HLDGS Iput	$5,000	–	500	–	0.00%	–
	New	COACH INCcall	$4,000	–	1,000	–	0.00%	–

Compare quarters

Export Teewinot Capital Advisers, L.L.C.'s holdings