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WHALEWISDOMHEDGE FUND OWNERSHIPREPORT – Q1 2017A REPORT COVERING HEDGE FUND STOCK OWNERSHIPTRENDS AND INDIVIDUAL MANAGER PORTFOLIOSENTER
WHALEWISDOMINTRODUCTION TO WHALEWISDOMPURPOSE OF THIS REPORTBACKGROUNDThis report summarizes the latestmoves in the WhaleIndex for themost recent 13F filing quarter endingMarch 31st, 2017. Here you’ll findthe latest data and trends on thebest performing hedge funds’ 13Fequity holdings. Comprised of the100 highest conviction stocks fromthe top scoring hedge funds, theWhaleIndex is an indicator of wherethe smart money is going and howwell it is performing. The purposeof the WhaleIndex is simple: try tooutperform the market by imitatingthe world’s best investors.Managers with more than 100 million in assetsunder management are required to disclose theirholdings to the SEC each quarter via 13F filings.These filings are due 45 days after the quarterend date. For Q1 2017 that means managers mustdisclose all qualifying assets held on March 31st,2017 by May 15th, 2017. Qualifying assets includelong positions in US equities and ADRs, call/putoptions, and convertible debt securities. Shorts,cash positions, foreign investments and otherassets are not included.Daniel Collins Owner/FounderWhaleWisdom.comInvestors can take advantage of these 13F filingsto create portfolios from managers that haveproven past success. Despite the 45-day delayin reporting, research has shown that investingalongside a single manager or group of managerscan outperform the market. The key is to identifythe best and most consistent funds to copy.Report Data Compiled as ofMay 17th, 2017So what is the best way to identify funds whose13F portfolio has the best chance of success?Start by backtesting. Using WhaleWisdom’scustom backtester engine, you can find out whatyour return would have been if you had copiedthe top holdings reported each quarter in afund’s 13F filing. Getting backtested performancenumbers is just the first step though. Once youhave a manager’s past performance, you needto adjust the returns for risk against a knownbenchmark. But how far back in time should youlook and which risk-adjusted metrics offer thebest insight into how the fund might perform inthe future? Are factors such as turnover rate orpercent concentration in top holdings importantto consider?To help take the guesswork out of fundselection, I’ve come up with a scoring systemcalled the WhaleScore. The WhaleScore letsyou quickly identify which funds tend to makegood candidates for replicating and whose pastperformance indicates a consistent track recordof outperforming the market. The best of theWhaleScore filers are brought together into theWhaleIndex.WhaleScores and the WhaleIndex are typicallyupdated 1-3 days after the 13F filing deadline.Premium subscribers have access to thesechanges as soon as they are ready. For this pastquarter, updates were completed and madeavailable to subscribers on May 17th, 2017.For more information on how to subscribeCLICK HERECONTENTSBACKFORWARD1
WHALEWISDOMCONTENTS OF REPORTPAGE1INTRODUCTION3WHALEINDEX4WHALE 20 OMEGA5WHALE 20 CONSERVATIVE6TOP 25 WHALESCORES7WHALEINDEX SECTOR BREAKDOWN OVER TIME8TOP 50 AGGREGATE10TOP 10 BUYS AND SELLS11TOP 25 CONSUMER DISCRETIONARY12TOP 25 CONSUMER STAPLES13TOP 25 ENERGY14TOP 25 FINANCIALS15TOP 25 HEALTH CARE16TOP 25 INDUSTRIALS17TOP 25 INFORMATION TECHNOLOGY18TOP 25 MATERIALS19TOP 25 REAL ESTATE20TOP 25 TRANSPORTS21TOP 25 UTILITIES & TELECOMMUNICATIONS22ABOUT WHALEWISDOM23DISCLAIMERCONTENTSBACKFORWARD2
WHALEWISDOMWHALEINDEXPerformance #’s (as of May 17th, 2017)WhaleIndexBenchmark Total ReturnYTD1 year3 year10.02%23.22%49.54%6.51%18%33.71%5 yearInceptionAnnualizedStd. 7.82%14.48%Rebalancing on May 17th, 2017SECURITIES ADDEDAvago Technologies LimitedSalesforce.com Inc.Activision Blizzard Inc.Ctrip.Com International Ltd ADSBaidu IncSymantec Corp.MGM Resorts International, Inc.Constellation Brands, Inc.Pandora Media Inc.Meta Financial Group Inc.Palo Alto Networks Inc.Advance Auto Parts, Inc.Baxter International Inc.eBay Inc.Yahoo! Inc.VERITEX HOLDINGSCIGNA Corp.CIT Group Inc. (2009)Lennar Corp. Class APeapack-Gladstone Financial CorpPraxair, Inc.Starbucks Corp.T-Mobile USA IncSeacoast Banking Corp. of FloridaHome Depot, Inc. (The)Banc of CaliforniaConstellium N.V.ALLY FINANCIAL IFleetCor Technologies, Inc.Macquarie Infrastructure Company LLCLIBERTY BRDBND CEllie Mae, Inc.Workday Inc.Bristol-Myers SquibbEmpire State Realty Trust, Inc.Equity Lifestyle Properties, Inc.Synchrony FinancialIntuitive Surgical Inc (New)SECURITIES LYFLTMICLBRDKELLIWDAYBMYESRTELSSYFISRGGeneral Electric Co.Comcast Corp. (New) Class AShire Plc ADSUnitedHealth Group Inc.Berkshire Hathaway Inc Class BPfizer, Inc.United Therapeutics Corp.BIOGEN INC.Teva Pharmaceutical Industries Ltd, ADRMylan Inc.Allergan PLC (Formerly Actavis PLC)Intel Corp.QUALCOMM Inc.LPL Financial Holdings, Inc.General Motors Co. (DE)Merck & CoAT&T Inc.Viacom Inc. (New) Class BBio-Rad Laboratories Inc Class ATesla Motors Inc.Oracle Corp.Markel Corp. (Holding Co.)Goodyear Tire and Rubber Co.MBT Financial Corp.GoDaddy Inc.Interactive Brokers Group Inc.Valeant Pharmaceuticals International, Inc.Intuit, Inc.Voya Financl Inc.Brown & Brown Inc.NVR Inc.Whirlpool Corp. (DE)Western Union Co. (New)Radian Group Inc.Boston Scientific Inc.Delta Air Lines Inc. (New)Arris Group Inc.Malvern Federal Bancorp, RD3
WHALEWISDOMWHALE 20 OMEGAThe Whale 20 Omega portfolio represents the top 20 holdings of the WhaleIndex with a focus on maximizing Alpha. This portfolio will be moreaggressive with higher turnover and risk compared to the other portfolio offerings. The portfolio is equally weighted and rebalanced quarterly46 days after the end of each quarter. The top 30 filers by Omega ratio whose WhaleScore beats the S&P WhaleScore are used each quarter.Performance #’s (as of May 17th, 2017)Whale 20 OmegaBenchmark Total ReturnYTD1 year3 year5 yearInceptionAnnualizedStd. ancing on May 17th, 2017SECURITIES ADDEDSECURITIES DROPPEDAlibaba Group Holding LimitedBABAClovis Oncology Inc.CLVSLOXO ONGY INC.LOXONeurocrine Biosciences Inc.NBIXBlueprint Medicines Corp.BPMCDERMIRA INC.DERMIGNYTA INC.RXDXSenseonics Holdings Inc.SENSFacebook Inc.FBWave Life Sciences Pte LtdWVEAgios Pharmaceuticals Inc.AGIOUnited Therapeutics Corp.UTHREsperion Therapeutics Inc. (New)ESPRHorizon Pharma, Inc.HZNPSAGE THERAPEUTICSAGEZELTIQ Aesthetics, Inc.ZLTQAcorda Therapeutics Inc.ACORCitigroup, Inc.CBeiGene LtdBGNELexicon Pharmaceuticals Inc.LXRXHarbinger Group Inc.HRGBank of America Corp.BACCONTENTSBACKFORWARD4
WHALEWISDOMWHALE 20 CONSERVATIVEThe Whale 20 Conservative portfolio represents the top 20 holdings of the WhaleIndex with a focus on reducing turnover by not replacingstocks that remain in the top 50 holdings of the WhaleIndex. Once a stock falls out of the top 50 holdings of the WhaleIndex it is replaced withthe most popular stock not currently in the portfolio. The portfolio is equally weighted and rebalanced quarterly 46 days after the end of eachquarter. The top 30 filers by Calmar and Sortino ratios whose WhaleScore beats the S&P WhaleScore are used.Performance #’sYTD1 year3 year5 yearInceptionAnnualizedStd. Dev.AlphaWhale 20 .41%3.93%Benchmark Total ancing on May 16th, 2017SECURITIES ADDEDSECURITIES DROPPEDPriceline Group Inc.PCLNJohnson & Johnson Co.JNJAlibaba Group Holding LimitedBABAWells Fargo & Co. (New)WFCBerkshire Hathaway Inc Class BBRK.BUnitedHealth Group Inc.UNHZillow Group Inc Class C W/IZPfizer, Inc.PFEEQUINIX INC REITEQIXExxon Mobil Corp.XOMSalesforce.com Inc.CRM3M CompanyMMMCONTENTSBACKFORWARD5
WHALEWISDOMTOP 25 WHALESCORESRankWhale NameEqual WeightedWhaleScoreEqual Weighted One YearAverage WhaleScorePortfolioMarket ValueTop 20 Holdings% of Portfolio1HIGHLANDER CAPITAL MANAGEMENT, LLC9999 117m27.1722BRONSON POINT MANAGEMENT LLC9987 354m66.4153DECATUR CAPITAL MANAGEMENT, INC.9998 514m49.0944REAL ESTATE MANAGEMENT SERVICES LLC9988 501m91.4455VGI PARTNERS PTY LTD9898 506m100.0006ADIRONDACK RESEARCH & MANAGEMENT INC.9896 278m44.2807DORSAL CAPITAL MANAGEMENT, LLC9898 1.88b85.5798ALTIMETER CAPITAL MANAGEMENT, LP9898 2.13b100.0009LEUCADIA NATIONAL CORP9892 1.22b95.26810TECHNOLOGY CROSSOVER MANAGEMENT VII, LTD.9797 2.48b100.00011CASTLE CREEK CAPITAL PARTNERS IV, LP9790 90.2m100.00012JACOBS ASSET MANAGEMENT, LLC9772 469m67.78013PATRIOT FINANCIAL PARTNERS GP, LP9691 297m100.00014NEWTYN MANAGEMENT, LLC9685 665m100.00015BANC FUNDS COMPANY LLC9685 2.31b32.28816THELEME PARTNERS LLP9586 1.87b100.00017PAR CAPITAL MANAGEMENT INC9597 8.23b78.38118BASSWOOD CAPITAL MANAGEMENT, L.L.C.9585 1.97b44.29019STIEVEN CAPITAL ADVISORS, L.P.9482 498m58.46420CAPITAL RETURNS MANAGEMENT, LLC9488 332m98.45421MENDON CAPITAL ADVISORS CORP9478 1.25b47.92022ULYSSES MANAGEMENT LLC9377 644m91.73023MALTESE CAPITAL MANAGEMENT LLC9384 926m35.80624JOHO CAPITAL LLC9396 523m100.00025WHALE ROCK CAPITAL MANAGEMENT LLC9295 1.84b83.821CONTENTSBACKFORWARD6
WHALEWISDOMWHALEINDEX SECTOR BREAKDOWN OVER TIMEThe weightings for each sector of the WhaleIndex 100 for the past 5 quarters.UTILITIES & TELECOMMUNICATIONS100TRANSPORTSSERVICES80REAL ESTATEMATERIALS60INFORMATION TECHNOLOGYINDUSTRIALS40HEALTH CAREFINANCE20ENERGYCONSUMER STAPLES0Q4 2015Q1 2016Q2 2016Q3 2016Q4 2016CONSUMER GOODSQ1 2017CONSUMER DISCRETIONARYCONTENTSBACKFORWARD7
WHALEWISDOMHoldsExits# of Ownersholding in top 104SellsMicrosoft Corp.BuysAmazon.com Inc.3New 41152936146m-225k1.8716082136 9.26b10.9m-50.3k1.82383761935AAPL 7.82b54.4m141k1.02029179829BAC 2.33b99m-107k0.95329168826ALPHABET INC CAP STK CL CGOOG 10.8b13m-34.7k1.884593027258JPMorgan Chase & Co.JPM 7.3b83.1m612k2.3221304679VISA Inc.V 3.97b44.7m202k2.38896846610Wells Fargo & Co. (New)WFC 5.36b96.2m-3.97m11Johnson & Johnson Co.JNJ 2.35b18.8m119k12Gilead Sciences Inc.GILD 2.27b33.4m26k13PayPal Holdings Inc.PYPL 1.35b31.3m14Union Pacific Corp.UNP 5.84b55.1m15Celgene Corp.CELG 1.94b15.6mValue Owned# of OwnersFB% of StockOwnershipSymbolFacebook Inc.Q/Q Changein SharesSecurity Name1Shares OwnedRankTOP 50 AGGREGATE (1–25) Compiled from top 100 WhaleScore Funds 7.52bAMZN 19.5bMSFT 9.62bALPHABET INC COM STK CL AGOOGL5Apple Inc.6Bank of America Corp.716Charter Communications Inc. (New) Class ACHTR 1.44b4.39m8.1k1.6224948391824931817U.S. Bancorp (New)USB 1.77b34.4m1.69m1.925422621724830218AbbVie Inc.ABBV 11.8b182m227k11.186228261716820219PepsiCo Inc.PEP 1.76b15.7m-9.5k1.0979460561728610120Walt Disney Co. (The)DIS 2.04b18m-170k1.1366883151728610321MasterCard Inc. Class AMA 3.56b31.7m5.5k2.8929327851707821422Pfizer, Inc.PFE 1.38b40.2m658k0.6625739121717631123Salesforce.com Inc.CRM 2.81b34m83.7k4.8849530641737610424Abbott LaboratoriesABT 2.89b65.1m3.31m4.4246217921608711125Alibaba Group Holding LimitedBABA 12.9b119m575k14.495927741625631726–50 Aggregate on following pageCONTENTSBACKFORWARD8
WHALEWISDOMExits# of Ownersholding in top 13281234412290034820166125811293106114TMO 4.43bAmgen, Inc.AMGN 14.3b29NIKE Inc.NKE 2.32b30General Electric Co.GE31Bristol-Myers SquibbBMY32Procter & Gamble CompanyPG33Medtronic Inc.MDT34AT&T Inc.T35Priceline Group Inc.PCLN 4.04b2.27m12.7k3.635174703151536Comcast Corp. (New) Class ACMCSA 2.22b59.1m779k2.429932144141337Citigroup, Inc.C 3.17b53.1m243k1.862189765141638Electronic Arts, Inc.EA 1.27b14.2m-431k4.60678175914339UnitedHealth Group Inc.UNH 5.49b33.5m73.9k3.50909140514540Charles Schwab CorpSCHW 3.55b87.1m550k6.56967373141441Home Depot, Inc. (The)HD 3.81b25.9m10.3k2.07164656514042Avago Technologies LimitedAVGO 9.29b42.4m1.29k10.5684137414143American Tower Corp., Class AAMT 1.49b12.3m609k2.886852703142344Coca Cola Co.KO 2.77b65.2m1.69m1.512091367141145Anthem Inc.ANTM 1.56b9.42m2.7k3.577596687142546CVS Caremark CorpCVS47Lowes Companies, Inc.LOW48Mondelez International Inc.MDLZ49PNC Financial Services Group, Inc. (The)PNC 1.46b50Intel Corp.INTC 5.69bSellsThermo Fisher Scientific, Inc.28Buys27New Owners 4.47b# of OwnersADBE% of StockOwnershipAdobe Systems, Inc.Q/Q Changein Shares26Shares OwnedValue Owned5Symbol0Security Name1RankHoldsTOP 50 AGGREGATE (26–50) Compiled from top 100 WhaleScore 51636 3.44b115m3.77m1.230149495151 587m10.8m-1.21m0.646334936153 1.42b15.8m-126k0.61616438150 4.1b50.9m522k3.71680786415 3.29b79.2m-471k1.21959607415 860m11m-141k0.99489382413057111 1.2b14.7m259k1.59790327213327102 KFORWARD9
WHALEWISDOMTOP 10 BUYS AND SELLS Compiled from top 100 WhaleScore Funds 19.5b4ALPHABET INC COM STK CL AGOOGL 9.26b10.9m5Bank of America Corp.BAC 2.33b6ALPHABET INC CAP STK CL CGOOG 10.8b7Gilead Sciences Inc.GILD8VISA Inc.9Walt Disney Co. (The)10JPMorgan Chase & 0New Owners74# of 13 2.27b33.4m26k2.35019110V 3.97b44.7m202k2.389221DIS 2.04b18m-170k1.137172 7.3b83.1m612k2.32224# of Owners822k-6.4k0% of StockOwnership53m21.9m# of Ownersholding in top 10 7.52bAMZNExitsFBAmazon.com Inc.1# of Ownersholding in top 10Facebook Inc.3-225kExits2146mHolds 9.62bHoldsValue OwnedMSFTNew OwnersSymbolMicrosoft Corp.Q/Q Changein SharesSecurity Name1Shares OwnedRankTOP 10 PURCHASESRankSecurity NameSymbolValue OwnedShares OwnedQ/Q Changein Shares% of StockOwnershipBuysSellsTOP 10 SELLS1Apple Inc.AAPL 7.82b54.4m141k1.02029172012122Amazon.com Inc.AMZN 19.5b21.9m-6.4k4.61736482040203ALPHABET INC COM STK CL AGOOGL 9.26b10.9m-50.3k1.824352101940184Microsoft Corp.MSFT 9.62b146m-225k1.872361171710185Bank of America Corp.BAC 2.33b99m-107k0.9532629141186Facebook Inc.FB 7.52b53m822k2.263384131471207JPMorgan Chase & Co.JPM 7.3b83.1m612k2.3222419131058ALPHABET INC CAP STK CL CGOOG 10.8b13m-34.7k1.88525110131079Wells Fargo & Co. (New)WFC 5.36b96.2m-3.97m1.91621161131610QUALCOMM Inc.QCOM 1.36b23.7m27.1k1.60512156061CONTENTSBACKFORWARD10
WHALEWISDOMSells4.617364820# of Ownersholding in top 10Buys-6.4kExitsNew Owners21.9mHolds# of Owners 19.5b% of StockOwnershipAMZNQ/Q Changein SharesSymbolAmazon.com Inc.Shares OwnedSecurity Name1Value OwnedRankTOP 25 CONSUMER DISCRETIONARY40202Charter Communications Inc. (New) Class ACHTR 1.44b4.39m8.1k1.622182493183Walt Disney Co. (The)DIS 2.04b18m-170k1.137172861034NIKE Inc.NKE 2.32b41.7m743k3.134163652035Priceline Group Inc.PCLN 4.04b2.27m12.7k3.635151563066Home Depot, Inc. (The)HD 3.81b25.9m10.3k2.072140482017Comcast Corp. (New) Class ACMCSA 2.22b59.1m779k2.430141382128Lowes Companies, Inc.LOW 1.2b14.7m259k1.598133271029Netflix Inc.NFLX 10.4b70.6m-153k16.4581316331510McDonalds Corp.MCD 1.63b12.6m-26.9k1.5151213530011Time Warner, Inc. (New)TWX 1.68b17.2m6.82k2.1681214702312Expedia Inc. (New)EXPE 2.03b16.1m171k11.7131014321413Starbucks Corp.SBUX 605m10.4m-30.1k0.7091003701014TJX Companies Inc. (New)TJX 1.42b18m-73.5k2.683913500015Ctrip.Com International Ltd ADSCTRP 3.64b74m2.04m913230216MGM Resorts International, Inc.MGM 1.24b45.3m1.72m853002117Lennar Corp. Class ALEN 386m7.54m-4.2k801520118ZILLOW GROUP INC CLASS A (WA)ZG 607m18m-50.6k14.843803230119Viacom Inc. (New) Class BVIAB 2.17b46.6m2.39k13.397834100120S&P Global, Inc.SPGI 370m2.83m-4.72k1.092714202121JD.COM INC ADRJD 1.87b60.2m-2.28m702410122Ross Stores Inc. (DE)ROST 1.23b18.7m-8.1k4.752712401023Dollar General Corp. (New)DG 307m4.4m73.4k1.592713301124Signet Jewelers, Inc.SIG 403m5.82m-23.5k7.324714110025PVH Corp.PVH 1
WHALEWISDOMShares OwnedQ/Q Changein Shares% of StockOwnership# of OwnersNew OwnersBuysSellsHoldsExits# of Ownersholding in top 10-9.5k1.09817286101Symbol15.7mSecurity Name 1.76bRankValue OwnedTOP 25 CONSUMER STAPLES1PepsiCo Inc.PEP2Procter & Gamble CompanyPG 1.42b3Coca Cola Co.KO 2.77b4Mondelez International Inc.MDLZ 1.42b33m5CVS Caremark Corp.CVS 860m6Philip Morris International Inc.PM 8.37b7Costco Co.COST 1.91b11.4m8Altria Group, Inc.MO 5.27b73.8m9Walgreens Boots Alliance, Inc.WBA 664m8m10Kroger Co.KR 3b102m11Rite Aid Corp.RAD 160m37.7m12Mead Johnson Nutrition Co.MJN 661m13Constellation Brands, Inc.STZ14Reynolds American Inc.RAI15AmerisourceBergen Corp.ABC16Lamb Weston Holdings Inc.17Colgate-Palmolive Co.18Kimberly-Clark Corp.19Estee Lauder Companies 110.9m3.58672311007.42m411k4.0187223011 362m2.23m-3.6k1.2947214012 2.16b34.2m104k2.3987141101 359m4.06m46.6k1.8447141110LW 245m5.83m-809k3.9886402010CL 540m7.38m-58.2k0.8316112200KMB 1.05b7.99m-348k2.1996213000EL 130m1.53m-155k0.6906014110Wal-Mart StoresWMT 247m3.42m-54.3k0.111603210021Tyson Foods, Inc.TSN 83.7m1.36m-95.9k0.473631111022Post Holdings Inc.POST 675m7.71m-20k11.992612120223Kraft Heinz Co. TheKHC 1.32b14.6m298k1.197612300124Anheuser-Busch Inbev SA ADRBUD 204m1.86m-111k521201125Whole Foods Market Inc.WFM 510211100101011014131FORWARD12
WHALEWISDOMShares OwnedQ/Q Changein Shares% of StockOwnership# of OwnersNew OwnersBuysSellsHoldsExits# of Ownersholding in top 10-408k0.77312074100Symbol32.5mSecurity Name 2.66bRankValue OwnedTOP 25 ENERGY1Exxon Mobil Corp.XOM2Schlumberger Ltd.SLB 1.73b22.1m3Pioneer Natural Resources Co.PXD 1.53b8.19m4EOG ResourcesEOG 4.6b47.2m5Chevron Corp.CVX 1.69b6Anadarko Petroleum Corp.APC 570m7Cabot Oil & Gas Corp.COG 241m8Suncor Energy, Inc.SU9Marathon Petroleum Corp.MPC10Halliburton Co.HAL11Noble Energy, Inc.NBL12Enterprise Products Partners 340110.1m-210k22.1697124001 2.73b88.5m-15.7m 245m4.85m99.1k70160100.9206140101 2.79b56.6m 2.22b64.6m-268k6.5516104140451k15.027614011EPD 86m03.12m86.2k0.1485032010Devon Energy Corp. (New)DVNWeatherford International Ltd.WFT 15.6m374k-200k0.0715221040 251m37.7m04.20752111115Ensco Plc ADRESV0 73.3m8.19m-1.46m2.703512110016Hess Corp.17Cimarex Energy Co.HES 51.1m1.06m-3.17k0.3345113000XEC 204m1.71m23k1.801511211018Marathon Oil Corp. (1901) (formerly U.S. Steel)MRO 10.6m673k32.5k0.079421010019ConocoPhillipsCOP 1.03b20.7m-1.34m1.668402202020Golar LNG LtdGLNG 359m12.9m671k422000021Range Resources Corp.RRC 268m9.2m124k421100022Canadian Natural Resources, LtdCNQ 3.41b104m-30m412100023Enbridge, Inc.ENB 871m20.8m7.33m403100024Baker Hughes Inc.BHI 411m6.87m-8.8k1.625402201025Southwestern Energy Co.SWN D13
WHALEWISDOMShares OwnedQ/Q Changein Shares% of StockOwnership# of OwnersNew OwnersBuysSellsHoldsExits# of Ownersholding in top 10-107k0.953262914118Symbol99mSecurity Name 2.33bRankValue OwnedTOP 25 FINANCIALS1Bank of America Corp.BAC2JPMorgan Chase & Co.JPM 7.3b3Wells Fargo & Co. (New)WFC 5.36b4U.S. Bancorp (New)USB 1.77b34.4m5Citigroup, Inc.C 3.17b53.1m6Charles Schwab Corp.SCHW 3.55b87.1m7PNC Financial Services Group, Inc. (The)PNC 1.46b12.1m-10k8Berkshire Hathaway Inc Class BBRK.B9MetLife Inc.MET10Goldman Sachs Group11Discovery Financial 4149213002.315132183221 3.14b18.8m18.5k11064104 459m8.69m-348k0.79011144210GS 2.57b11.2m-347k2.66410136022DFS 686m10m-590k1.78310125210Regions Financial Corp. (New)RF 362m24.9m-225k2.0261001720213Capital One Financial Corp.COF 445m5.14m598k0.9751023320014Comerica, Inc.CMA 123m1.79m471k1.0011012431015Fidelity National Information Services, Inc. FIS 342m4.3m-325k810610116American ExpressAXP 520m6.58m1.19m0.679811512017American International Group, Inc.AIG 5.09b81.6m-8.3k6.831803413118Fifth Third BancorpFITB 69.3m2.73m310k802421019IntercontinentalExchange Group Inc.ICE 708m11.8m-2k9.931812411020SVB Financial GroupSIVB 480m2.58m150k4.953814210121East West Bancorp, Inc.EWBC 534m10.3m125k7.172803411022Marsh & McLennan Companies, Inc.MMC 1.27b17.2m6.2k3.299814300023Lincoln National Corp.LNC 329m5.03m-6.46k1.962821410124Huntington Bancshares, Inc.HBAN 137m10.2m-622k0.941804310025Zions BancorporationZION 312m7.44m-154k3.6388215003CONTENTSBACKFORWARD14
WHALEWISDOMHoldsExits# of Ownersholding in top 4m659k1.3781025211268.9m4.9k6.23810054113 2.12b85.4m-1.38m6.27110115302 583m5.33m111k2.1519133203JNJ 2.35b18.8m119k0.6922Gilead Sciences Inc.GILD 2.27b33.4m26k2.3503Celgene Corp.CELG 1.94b15.6m111k2.0134AbbVie Inc.ABBV 11.8b182m227k11.1865Pfizer, Inc.PFE 1.38b40.2m658k6Amgen, Inc.AMGN 14.3b87.3m72.4k7Abbott LaboratoriesABT 2.89b65.1m3.31m8Thermo Fisher Scientific, Inc.TMO 4.43b28.8m9Bristol-Myers SquibbBMY 587m10.8m10Medtronic Inc.MDT 4.1b50.9m522k3.7171511UnitedHealth Group Inc.UNH 5.49b33.5m73.9k3.5091412Anthem Inc.ANTM 1.56b9.42m2.7k3.5781413BIOGEN INCBIIB 5.43b19.9m-26.5k9.12514Merck & Co.MRK 1.61b25.3m-795k0.91815McKesson Corp. (New)MCK 1.81b12.2m-216k16CIGNA Corp.CI 1.07b7.31m17Stryker Corp.SYK 4.3b32.7m18Alexion Pharmaceuticals Inc.ALXN 979m8.08m19Illumina Inc.ILMN 6.15b36m20Allergan PLCAGN 560m2.34m21Biomarin Pharmaceutical Inc.BMRN 3.04b22Aetna Inc. (New)AET 617m23Lilly (Eli) & Co.LLY 5.79b24Boston Scientific Inc.BSX25Vertex Pharmaceuticals, Inc.VRTXBuysJohnson & Johnson Co.New Owners1# of Owners% of StockOwnership12Q/Q Changein Shares78Shares Owned3Value Owned0Symbol1Security Name10RankSellsTOP 25 HEALTH 7.29416-1.21m0.64615CONTENTSBACKFORWARD15
WHALEWISDOM 394mFTV 578m4United Technologies Corp.UTX5Boeing Company6Delphi Automotive Plc7Honeywell International Inc.HON8Illinois Tool Works9General Dynamics Corp.10Owens Corning Inc (New)11Fastenal Co.12# of Ownersholding in top 10MMMFORTIVE CORPORATIONExits3M Company3Holds2Sells 1.230152.06m224k0.343139.59m989k9 1.18b10.5m-1.01m1.2779BA 3.73b21.1m378k3.420DLPH 258m3.2m-55.6k1.150 1.12b8.99m766kITW 1.43b10.8mGD 3.53b18.8mOC 421m6.86mFAST 238m4.63mMOBILEYE NVMBLY 493m8.02m1.29m13Transdigm Group Inc.TDG 853m3.87m43714Caterpillar Inc.CAT 1.92b20.7m717k15Johnson Controls Intl (formerly Tyco Intl)JCI 680m16.1m-4.39m16LKQ Corp.LKQ 438m15m17VERISK ANALYTICS INC COMVRSK 470m5.8m18Rockwell Automation, Inc.ROK 270m1.73m19Aecom Technology Corp.ACM 537m15.1m20Equifax Inc.EFX 368m2.69m21Deere & Co.DE 1.28b22Parker-Hannifin Corp.PH 152m23Rockwell Collins, Inc.COL 279m24Tri-Pointe Homes, Inc.TPH25Axon Enterprise, Inc.AAXNBuys115mNew Owners# of OwnersValue OwnedGE% of StockOwnershipSymbolGeneral Electric Co.Q/Q Changein SharesSecurity Name1Shares OwnedRankTOP 25 11.8m1.95m3.7046947k225k0.71162.87m996k2.1946.243 127m10.1m-7.03k 53.6m2.35m-55.5kCONTENTSBACKFORWARD16
WHALEWISDOMShares OwnedQ/Q Changein Shares% of StockOwnership# of OwnersNew OwnersBuysSellsHoldsExits# of Ownersholding in top 10822k2.26338413147120Symbol53mSecurity Name 7.52bRankValue OwnedTOP 25 INFORMATION TECHNOLOGY1Facebook Inc.FB2Microsoft Corp.MSFT 9.62b146m3ALPHABET INC COM STK CL AGOOGL 9.26b10.9m4Apple Inc.AAPL 7.82b54.4m141k5ALPHABET INC CAP STK CL CGOOG 10.8b13m6VISA Inc.V 3.97b44.7m7PayPal Holdings Inc.PYPL 1.35b31.3m8MasterCard Inc. Class AMA 3.56b31.7m9Salesforce.com Inc.CRM 2.81b34m10Adobe Systems, Inc.ADBE 4.47b34.3m11Alibaba Group Holding LimitedBABA 12.9b119m12Electronic Arts, Inc.EA 1.27b14.2m13Avago Technologies LimitedAVGO 9.29b14Cisco Systems, Inc.CSCO 2.45b15Intel Corp.INTC 5.69b16Oracle Corp.ORCL17QUALCOMM Inc.QCOM18Texas Instruments, Inc.TXN19NVIDIA Corp.NVDA20eBay Inc.EBAY21Activision Blizzard Inc.22Micron Technology, 48101158m-163k3.33113264121 8.27b185m588k4.48513237104 1.36b23.7m27.1k1.60512156061 8.96b111m48.9k11.13012046212 4.85b44.5m61.3k8.25712138005 1.05b31.3m677k2.64612263101ATVI 1.61b32.2m761k4.33512155122MU 2.18b75.3m84.5k6.80911343110Intuit, Inc.INTU 1.56b13.4m49k1013601124Accenture Plc Class A ADRACN 4.02b33.6m-153k1002710225Baidu Inc.BIDU 5.3b30.7m-550k9143113CONTENTS5.068BACKFORWARD17
WHALEWISDOMDOWEcolab Inc.ECL4Freeport-McMoRan Copper and Gold, Inc. Class BFCX 1.83b5Monsanto Co. (New)MON 2.01b17.8m6Martin Marietta Materials Inc.MLM 989m4.53m7Mosaic Company (The)MOS 667m22.9m8Alcoa CorpAA 146m9Sherwin-Williams Co.SHW 469m10CF Industries Holdings IncCF11GoldCorp Inc. (New)GG12Eagle Materials Inc.EXP13Teck Resources Ltd14Companhia Vale de Rio Doce S.A. ADR15LyondellBasell Industries NV, ADR Class A16172100601000112000201Buys1New Owners137m1# of Owners3.17m4% of StockOwnership19.7m2Q/Q Changein Shares 1.25b 398m# of Ownersholding in top 10Dow Chemical Co.310.6mExits2 1.26bHoldsPXSellsSymbolPraxair, Inc.Shares OwnedSecurity Name1Value OwnedRankTOP 25 702504.24m1.1m2.32065100111.51m-50.6k1.6246112230 324m11m2.47m4.7296123000 54.7m3.75m1.15m5202111 137m1.41m176k5311000TECK 677m30.9m-1.06m5203001VALE 1.58b175m2.75m5212010LYB 244m2.67m209k0.5495121100E. I. du Pont de Nemours & Co.DD 154m1.91m-11.7k0.2205005010Air Products & ChemicalsAPD 118m874k-594k0.402502120018Reliance Steel & Aluminum Co.RS 71.7m896k-325k1.234412100019Vulcan Materials CompanyVMC 199m1.65m217k1.238403101120Tronox, Inc. (New)TROX 43.5m2.36m-54.7k3.621402200121Potash Corp. of Saskatchewan Inc.POT 163m9.53m-291k401210022Chemours CoCC 211m5.47m640k401301223Franco Nevada Corp. ADRFNV 130m1.99m215k413000024Weyerhaeuser Corp.WY 272m8m-297k1.069402112025Celanese Corp. (New) Class ACE FORWARD18
WHALEWISDOMBuysSellsHoldsExits# of Ownersholding in top 301116.2m-2.6k12.91361320019.93m2.2k5.2566032101 206m16.5m-23.5m4.4946212100 313m4.72m211k4.5145220100 433m5.61m1.54m6.5815050002PLD 1.58b30.4m1.4k5.7605041013BXP 478m3.61m1.4k2.3465032010Host Hotels & Resorts Inc.HST 778m41.7m-15.3k5.5545121100Health Care REIT, Inc.HCN 125m1.76m1.4k0.486504011020American Campus Communities, Inc.ACC 883m18.6m-297k14.048402200021Howard Hughes Corp. (The)HHC 396m3.38m-46k8.482411110122Macerich Company (The)MAC 302m4.68m-2.5k3.032411200223American Homes 4 RentAMH 591m25.8m010.833403010024Brixmor Property GroupBRX 886m41.3m-518k13.547411200125Quality Care Properties Inc.QCP 49.7m2.64m1.28m2.8164301010 1.23b2Alexandria Real Estate Equities, Inc.ARE 938m3General Growth Properties Inc. (DE)GGP 258m4Ventas, Inc.VTR 724m5Simon Property Group, Inc.SPG6HCP Inc.HCP7Jones Lang Lasalle Inc.JLL 571m8Essex Property Trust, Inc.ESS9Public Storage, Inc.PSA10Equity Residential Properties TrustEQR 835m11Extra Space Storage, Inc.EXR 1.21b12Vornado Realty TrustVNO 997m13DDR Corp.DDR14Regency Centers Corp.REG15Equity Lifestyle Properties, Inc.ELS16ProLogis, Inc.17Boston Properties, Inc.1819# of OwnersDHR% of StockOwnershipDanaher Corp.Q/Q Changein Shares1Shares OwnedValue Owned8Symbol2Security Name1RankNew OwnersTOP 25 REAL k1.256811.1m1.7k3.1427 2.91b16.9m12.2k5.298 952m30.4m8.8k6.5015.12m14k 1.27b5.5m 1.36b6.2mCONTENTSBACKFORWARD19
WHALEWISDOMExits# of Ownersholding in top 201110030001102001001000120031012210001010201UNP 5.84b55.1m02United Parcel Service, Inc. Class BUPS 856m7.98m03CSX Corp.CSX 3.16b67.9m4.5k4Delta Air Lines Inc. (New)DAL 1.95b42.3m05Southwest Airlines Co.LUV 4.58b85.2m06United Continental Holding Co.UAL 3.3b46.7m07FedEx CorporationFDX 3.82b19.6m9.82k8Norfolk Southern Corp.NSC 724m6.47m02.1727119C.H. Robinson WorldwideCHRW 1.1b14.3m5.33k9.95160210Kirby Corp.KEX 670m9.49m143k17.62162211Alaska Air GroupALK 1.09b11.8m09.43261112Swift Transportation Co Inc.SWFT 72.8m3.55m10.9k4.03952213JetBlue Airways Corp.JBLU 493m23.9m25.5k7.3885114Landstar System Inc.LSTR 466m5.44m013.0165015American Airlines Group,Inc.AAL 2.19b51.8m08.29351216Copa Holdings SA Class ACPA 301m2.68m050317Canadian National Railway Co.CNI 30.8m417k75k51118Ryanair Holdings ADRRYAAY 1.29b15.5m0510319Allegiant Travel Co.ALGT 77.4m483k02.920401120Avis Budget Group Inc.CAR 265m8.96m010.200403021Star Bulk Carriers Corp.SBLK 8.94m752k159k43022Hunt (J.B.) Transport Services, Inc.JBHT 712m7.76m06.91640123Macquarie Infrastructure Company LLCMIC 199m2.46m337k3.0104024Scorpio Tankers Inc.STNG 29.9m6.74m3.16m325XPO LogisticsXPO 7.312803# of Owners2% of StockOwnershipSellsUnion Pacific Corp.Buys1New OwnersQ/Q Changein Shares12Shares Owned20Value Owned1Symbol0Security Name4RankHol
Salesforce.com Inc. CRM Activision Blizzard Inc. ATVI Ctrip.Com International Ltd ADS CTRP Baidu Inc BIDU Symantec Corp. SYMC MGM Resorts International, Inc. MGM Constellation Brands, Inc. STZ Pandora Media Inc. P Meta Financial Group Inc. CASH Palo Alto Networks Inc. PANW Advance Auto Parts, Inc. AAP Baxter International Inc. BAX eBay Inc .
