Baron Capital

Q4 2013 13F · by Ron Baron, CEO

As of: Dec 31, 2013
Filed: May 15, 2014
US stock: $24.1B · prev $21.8B
Positions: 347 · prev 317
Options notional: $0
Documents: 1· 2 amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves310 since the prior filing

+6.2 pp in · −6.1 pp out

New 47 +3.75 pp
Added 130 +2.45 pp
Trimmed 116 −5.45 pp
Exited 17 −0.63 pp

The book

Diversified · behaves like 108 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 15% a year, about 6.5 years per position

Low
Moderate
High

Top 5 positions11% of US stock

IT Gartner, Inc. added+0.36 pp added+0.362.7%
ACGL Arch Capital Group Ltd trimmed0.00 pp trimmed0.002.4%
DKS Dick's Sporting Goods, Inc. added0.00 pp added0.002.1%
unresolved Itc Hldgs Corp trimmed−0.19 pp trimmed−0.192.0%
GLPI Gaming and Leisure Properties, Inc. new+1.72 pp new+1.721.7%

Revealed late, restated

restated 6 rows corrected by the filer · US stock 0.00%; later quarters recomputed 13F-HR/A · Feb 18, 2014 ↗

restated 2 rows corrected by the filer · US stock 0.00%; later quarters recomputed 13F-HR/A · May 15, 2014 ↗

Positions347 in this filing · 17 exited


ITGartner, Inc.	2.70%	9,175,270	$652M	added+8%	+0.36 pp	3 q
ACGLArch Capital Group Ltd	2.36%	9,516,737	$568M	trimmed−0%	0.00 pp	3 q
DKSDick's Sporting Goods, Inc.	2.07%	8,581,167	$499M	added+1%	0.00 pp	3 q
unresolvedItc Hldgs Corp	2.04%	5,143,603	$493M	trimmed−1%	−0.19 pp	3 q
GLPIGaming and Leisure Properties, Inc.	1.72%	8,158,620	$415M	new	+1.72 pp	new
FDSFactset Research Systems	1.68%	3,730,176	$405M	added+1%	−0.17 pp	3 q
MTNVail Resorts, Inc.	1.68%	5,375,886	$404M	held	—	3 q
IDXXIdexx Laboratories Inc	1.64%	3,727,807	$397M	added+1%	−0.04 pp	3 q
GWRGenesee & Wyoming Inc.	1.60%	4,010,604	$385M	added+2%	−0.08 pp	3 q
UNFIUnited Natural Foods Inc	1.54%	4,917,900	$371M	added0%	+0.03 pp	3 q
CSGPCoStar Group Inc	1.53%	2,003,125	$370M	added+1%	+0.01 pp	3 q
LKQLKQ Corporation	1.46%	10,708,457	$352M	trimmed−1%	−0.12 pp	3 q
unresolvedSBA Comms Corp	1.45%	3,889,482	$349M	trimmed−7%	−0.09 pp	3 q
CLBCore Laboratories Inc.	1.38%	1,743,703	$333M	trimmed−0%	+0.02 pp	3 q
AKXAnsys Inc	1.37%	3,782,021	$330M	trimmed−0%	−0.13 pp	3 q
MTDMettler-Toledo International	1.36%	1,355,681	$329M	trimmed−1%	−0.15 pp	3 q
unresolvedColfax Corp	1.35%	5,110,829	$326M	added+3%	+0.07 pp	3 q
HHyatt Hotels Corporation	1.33%	6,464,255	$320M	added+3%	+0.10 pp	3 q
MIDDMiddleby Corp	1.33%	1,337,532	$321M	added+3%	+0.09 pp	3 q
UAAUnder Armour, Inc.	1.26%	3,490,306	$305M	trimmed−1%	−0.02 pp	3 q
VRSKVerisk Analytics, Inc.	1.19%	4,366,727	$287M	trimmed−3%	−0.15 pp	3 q
CHHChoice Hotels Intnl.	1.15%	5,665,719	$278M	added0%	+0.03 pp	3 q
GNRCGenerac Holdings Inc	1.13%	4,796,658	$272M	trimmed−0%	+0.19 pp	3 q
CYHCommunity Health Systems, Inc.	1.10%	6,781,238	$266M	trimmed−3%	−0.22 pp	3 q
ILMNIllumina Inc	1.01%	2,209,790	$244M	trimmed−0%	+0.19 pp	3 q
unresolvedLumber Liquidators Hldgs Inc	0.99%	2,332,248	$240M	added+3%	−0.11 pp	3 q
HPHelmerich & Payne, Inc.	0.98%	2,817,510	$237M	trimmed−0%	+0.09 pp	3 q
unresolvedFinancial Engines	0.92%	3,198,912	$222M	held	—	3 q
FLTCorpay, Inc.	0.92%	1,887,963	$221M	trimmed−0%	−0.03 pp	3 q
GWREGuidewire Software, Inc.	0.91%	4,487,875	$220M	added+26%	+0.14 pp	3 q
SCHWThe Charles Schwab Corporation	0.88%	8,124,412	$211M	trimmed−2%	+0.08 pp	3 q
FASTFastenal Co	0.87%	4,391,903	$209M	added+1%	−0.13 pp	3 q
TRGPTarga Resources Corp.	0.86%	2,365,983	$209M	trimmed−0%	+0.07 pp	3 q
WYNNWynn Resorts Ltd	0.85%	1,059,694	$206M	added+1%	+0.09 pp	3 q
CPRTCopart Inc	0.81%	5,304,576	$194M	trimmed−0%	+0.04 pp	3 q
CXOConcho Resources Inc.	0.79%	1,758,040	$190M	added+3%	−0.06 pp	3 q
THSTreehouse Foods, Inc.	0.79%	2,752,867	$190M	added+19%	+0.08 pp	3 q
MSCIMSCI, Inc.	0.73%	4,039,776	$177M	trimmed−12%	−0.12 pp	3 q
MMSMAXIMUS, Inc.	0.73%	3,983,570	$175M	held	—	3 q
CBRECbre Group, Inc.	0.71%	6,501,421	$171M	added+6%	+0.06 pp	3 q
unresolvedThe Carlyle Group	0.71%	4,825,115	$172M	added0%	+0.14 pp	3 q
SSNCSS&C Technologies Inc	0.71%	3,863,337	$171M	held	—	3 q
CSTECaesarstone Ltd.	0.71%	3,438,615	$171M	added+1%	0.00 pp	3 q
KMXCarMax Inc.	0.69%	3,549,469	$167M	added+4%	−0.07 pp	3 q
unresolvedAdvent Software Inc	0.68%	4,709,194	$165M	trimmed−0%	−0.01 pp	3 q
BFAMBright Horizons Family Solutions Inc.	0.68%	4,478,079	$165M	added+10%	+0.01 pp	3 q
unresolvedLiberty Media Corp Delaware	0.68%	1,121,067	$164M	trimmed−14%	−0.19 pp	3 q
TDGTransDigm Group Incorporated	0.67%	1,000,000	$161M	held	—	3 q
unresolvedDreamWorks Animation SKG Inc.	0.64%	4,353,964	$155M	added+89%	+0.34 pp	2 q
unresolvedPinnacle Entertainment Inc.	0.64%	5,914,550	$154M	added+2%	−0.03 pp	3 q
BKDBrookdale Senior Living, Inc.	0.62%	5,475,126	$149M	added+5%	−0.01 pp	3 q
BAHBooz Allen Hamilton Holding Corporation	0.61%	7,622,455	$146M	trimmed−6%	−0.11 pp	3 q
unresolvedFEI Company	0.61%	1,650,515	$147M	held	—	3 q
unresolvedHomeaway Inc	0.61%	3,603,873	$147M	trimmed−2%	+0.14 pp	3 q
PRIPrimerica, Inc.	0.61%	3,456,180	$148M	added+1%	−0.02 pp	3 q
RPRealPage, Inc.	0.61%	6,329,355	$148M	trimmed−1%	−0.07 pp	3 q
CHDChurch & Dwight Co., Inc.	0.58%	2,105,000	$140M	trimmed−1%	−0.01 pp	3 q
DISCADiscovery, Inc. Series A	0.57%	1,525,296	$138M	trimmed−0%	−0.02 pp	3 q
MORNMorningstar, Inc.	0.54%	1,680,196	$131M	trimmed−1%	−0.07 pp	3 q
unresolvedPriceline Grp Inc	0.54%	111,838	$130M	trimmed−1%	+0.02 pp	3 q
CNSCohen & Steers Inc.	0.53%	3,170,253	$127M	added0%	+0.02 pp	3 q
unresolvedEquinix Inc	0.51%	694,113	$123M	trimmed−19%	−0.21 pp	3 q
DEIDouglas Emmett, Inc.	0.50%	5,174,929	$121M	added+3%	−0.04 pp	3 q
unresolvedLasalle Hotel Pptys	0.50%	3,875,926	$120M	added0%	−0.01 pp	3 q
RLRalph Lauren Corporation	0.50%	683,394	$121M	trimmed−1%	−0.02 pp	3 q
BERYBerry Global Group, Inc.	0.49%	4,942,533	$118M	trimmed−7%	0.00 pp	3 q
ACIWACI Worldwide, Inc.	0.47%	1,750,000	$114M	held	—	3 q
unresolvedInterval Leisure Group Inc	0.47%	3,653,050	$113M	added+2%	+0.08 pp	3 q
PENNPENN Entertainment, Inc.	0.47%	7,856,266	$113M	trimmed−0%	−1.53 pp	3 q
unresolvedUltimate Software Group Inc	0.46%	731,205	$112M	held	—	3 q
unresolvedConcur Technologies Inc	0.45%	1,056,200	$109M	added+4%	−0.06 pp	3 q
OAKOaktree Capital Group, LLC	0.45%	1,858,547	$109M	added+2%	+0.01 pp	3 q
unresolvedWaste Connections Inc	0.45%	2,500,000	$109M	held	—	3 q
unresolvedAdvisory Brd Co	0.44%	1,673,698	$107M	added+19%	+0.06 pp	3 q
FOSLFossil Group, Inc.	0.44%	874,900	$105M	held	—	2 q
unresolvedPanera Bread Co	0.44%	599,762	$106M	trimmed−0%	0.00 pp	3 q
unresolvedDevry Ed Group Inc	0.42%	2,825,282	$100M	trimmed−24%	−0.10 pp	3 q
EWEdwards Lifesciences Corp	0.42%	1,533,972	$101M	trimmed−30%	−0.28 pp	3 q
PEGAPegasystems Inc	0.42%	2,051,677	$101M	trimmed−1%	+0.04 pp	3 q
unresolvedNielsen Holdings N V	0.42%	2,200,848	$101M	trimmed−8%	+0.02 pp	3 q
AYIAcuity Inc.	0.41%	900,000	$98M	trimmed−10%	−0.01 pp	3 q
unresolvedTechne Corp	0.41%	1,053,380	$100M	held	—	3 q
MANUManchester United PLC	0.41%	6,431,959	$100M	added+28%	+0.01 pp	3 q
unresolvedDigitalglobe Inc	0.40%	2,346,546	$97M	added0%	+0.06 pp	3 q
CLHClean Harbors, Inc	0.39%	1,569,488	$94M	trimmed−1%	−0.03 pp	3 q
EVEaton Vance Corp	0.39%	2,183,340	$93M	trimmed−10%	−0.04 pp	3 q
unresolvedSeacor Holdings Inc.	0.38%	999,917	$91M	trimmed−0%	−0.03 pp	3 q
unresolvedIconix Brand Group Inc	0.37%	2,250,000	$89M	trimmed−10%	−0.01 pp	3 q
WSTWest Pharmaceutical Services, Inc.	0.37%	1,823,538	$89M	added+21%	+0.09 pp	3 q
unresolvedAcxiom Corp	0.36%	2,322,968	$86M	added+7%	+0.08 pp	3 q
AL1Sumisho Air Lease Corp	0.36%	2,758,809	$86M	trimmed−0%	+0.01 pp	3 q
ALXAlexander's Inc.	0.36%	265,056	$87M	trimmed−4%	0.00 pp	3 q
SAMBoston Beer Company	0.33%	329,381	$80M	trimmed−0%	−0.04 pp	3 q
CHRWC.H. Robinson Worldwide, Inc.	0.33%	1,360,101	$79M	trimmed−21%	−0.14 pp	3 q
CRRCarbo Ceramics Inc.	0.33%	680,711	$79M	trimmed−0%	+0.02 pp	3 q
CAKECheesecake Factory (The)	0.33%	1,650,000	$80M	held	—	3 q
APAMArtisan Partners Asset Management Inc.	0.32%	1,183,913	$77M	added+1%	+0.04 pp	3 q
unresolvedMadison Square Garden Co	0.32%	1,350,000	$78M	held	—	3 q
BNFTBenefitfocus, Inc.	0.31%	1,286,052	$74M	new	+0.31 pp	new
VMIValmont Industries, Inc.	0.31%	494,105	$74M	trimmed−0%	−0.01 pp	3 q
unresolvedGlobe Specialty Metals Inc	0.30%	4,000,000	$72M	held	—	3 q
RXNZurn Elkay Water Solutions Corporation	0.30%	2,682,403	$72M	held	—	3 q
unresolvedStarwood HOTELS&RESORTS Wrld	0.30%	903,284	$72M	added+33%	+0.09 pp	3 q
CHEFThe Chef's Warehouse Inc	0.29%	2,392,450	$70M	added+4%	+0.05 pp	3 q
CGNXCognex Corp	0.29%	1,850,000	$71M	trimmed−26%	−0.07 pp	3 q
ESNTEssent Group LTD	0.29%	2,893,580	$70M	new	+0.29 pp	new
unresolvedMattress Firm Hldg Corp	0.27%	1,502,550	$65M	added0%	+0.05 pp	3 q
WEXWEX Inc.	0.27%	650,000	$64M	held	—	3 q
AREAlexandria Real Estate Equities, Inc.	0.26%	977,539	$62M	trimmed−9%	−0.06 pp	3 q
unresolvedPall Corp	0.26%	748,040	$64M	added0%	0.00 pp	3 q
WYNTravel + Leisure Co.	0.25%	818,917	$60M	added+29%	+0.07 pp	3 q
unresolvedIHS Inc 'A'	0.24%	483,355	$58M	trimmed−39%	−0.17 pp	3 q
unresolvedSusser Hldgs Corp	0.24%	875,600	$57M	trimmed−3%	+0.02 pp	3 q
ICLRIcon Plc	0.24%	1,430,000	$58M	added+12%	0.00 pp	3 q
FWMFairway Group Hldgs Corp Cl A Com Stk (De)	0.23%	3,043,492	$55M	added+53%	0.00 pp	3 q
unresolvedLinkedin Corp Cl A	0.23%	251,462	$55M	added+1%	−0.05 pp	3 q
NDSNNordson Corp	0.23%	750,000	$56M	held	—	3 q
SSTKShutterstock, Inc.	0.23%	663,151	$55M	added+59%	+0.09 pp	3 q
unresolvedScorpio Tankers Inc	0.23%	4,702,904	$55M	added0%	+0.02 pp	3 q
COHRCoherent Corp.	0.22%	712,107	$53M	added0%	+0.02 pp	3 q
TCSThe Container Store Group, Inc.	0.22%	1,139,701	$53M	new	+0.22 pp	new
MSMMSC Industrial Direct Co., Inc. Class A	0.22%	653,250	$53M	trimmed−1%	−0.03 pp	3 q
HSICHenry Schein Inc	0.22%	455,496	$52M	trimmed−1%	0.00 pp	3 q
TIFTiffany & Co.	0.22%	561,606	$52M	trimmed−1%	+0.02 pp	3 q
NCLHNorwegian Cruise Line Holdings Ltd.	0.22%	1,461,967	$52M	added+30%	+0.06 pp	3 q
unresolvedAirgas Inc	0.21%	459,441	$51M	trimmed−1%	−0.01 pp	3 q
EPAYBottomline Technologies Inc	0.21%	1,431,250	$52M	added+16%	+0.05 pp	3 q
CHSPChesapeake Lodging Trust	0.21%	2,005,160	$51M	added0%	−0.01 pp	3 q
unresolvedEmeritus Corp	0.21%	2,290,269	$50M	trimmed−21%	−0.04 pp	3 q
37MMrc Global Inc	0.21%	1,539,595	$50M	trimmed−4%	+0.01 pp	3 q
SLGSL Green Realty Corp.	0.21%	538,525	$50M	trimmed−21%	−0.07 pp	3 q
TSCOTractor Supply Co	0.21%	648,945	$50M	trimmed−1%	+0.01 pp	3 q
DFRGDel Frisco's Restaurant Group, Inc.	0.20%	2,063,470	$49M	added+29%	+0.05 pp	2 q
DXCMDexCom, Inc.	0.20%	1,357,357	$48M	trimmed−1%	+0.02 pp	3 q
unresolvedSusser Petroleum Partners LP	0.20%	1,484,219	$49M	trimmed−15%	−0.04 pp	3 q
PSXPPhillips 66 Partners LP	0.19%	1,209,497	$46M	trimmed−0%	+0.02 pp	2 q
CSUSonida Senior Living, Inc.	0.18%	1,795,156	$43M	added+18%	+0.03 pp	3 q
unresolvedDiamond Resorts Intl Inc	0.18%	2,370,575	$44M	added+21%	+0.01 pp	2 q
FETForum Energy Technologies, Inc.	0.18%	1,535,042	$43M	trimmed−6%	−0.02 pp	3 q
LVSLas Vegas Sands Corp.	0.18%	561,843	$44M	added+10%	+0.02 pp	3 q
OASOasis Petroleum Inc	0.18%	915,870	$43M	added+1%	−0.02 pp	3 q
ROPRoper Technologies, Inc.	0.18%	316,279	$44M	trimmed−12%	−0.04 pp	3 q
SHOSunstone Hotel Investors, Inc.	0.18%	3,202,128	$43M	trimmed−0%	−0.01 pp	3 q
unresolvedTumi Holdings Inc.	0.18%	1,900,000	$43M	trimmed−8%	−0.01 pp	3 q
unresolvedCepheid	0.17%	882,500	$41M	held	—	3 q
JLLJones Lang LaSalle, Inc.	0.17%	395,233	$40M	added+12%	+0.03 pp	3 q
MASIMasimo Corporation	0.17%	1,370,014	$40M	trimmed−33%	−0.08 pp	3 q
NCMINational CineMedia, Inc.	0.17%	2,000,000	$40M	held	—	3 q
SMSM Energy Company	0.17%	498,248	$41M	added0%	−0.01 pp	3 q
VRSNVeriSign Inc	0.17%	691,571	$41M	trimmed−1%	+0.01 pp	3 q
FGAAmerican Campus Communities	0.16%	1,203,769	$39M	trimmed−17%	−0.07 pp	3 q
BJRIBJ's Restaurants, Inc.	0.16%	1,250,000	$39M	trimmed−17%	−0.04 pp	3 q
unresolvedOn Assignment Inc	0.16%	1,097,250	$38M	held	—	3 q
TROWT Rowe Price Group Inc	0.16%	457,406	$38M	trimmed−2%	+0.01 pp	3 q
unresolvedRally Software Dev Corp	0.16%	2,043,888	$40M	new	+0.16 pp	new
unresolvedRestoration Hardware Hldgs I	0.16%	567,500	$38M	new	+0.16 pp	new
GGGGraco Inc	0.15%	450,000	$35M	held	—	3 q
HDHome Depot, Inc.	0.15%	448,253	$37M	new	+0.15 pp	new
IMAXImax Corp	0.15%	1,248,800	$37M	new	+0.15 pp	new
PAGPenske Automotive Group, Inc.	0.15%	750,000	$35M	held	—	3 q
unresolvedPly Gem Holdings Inc	0.15%	1,957,340	$35M	added0%	+0.03 pp	3 q
ZQKQuicksilver,inc.	0.15%	4,000,000	$35M	trimmed−33%	−0.04 pp	3 q
SRCLStericycle Inc	0.15%	302,268	$35M	trimmed−19%	−0.05 pp	3 q
LSTRLandstar System Inc	0.14%	593,300	$34M	trimmed−0%	−0.01 pp	3 q
unresolvedPolypore International Inc	0.14%	881,263	$34M	trimmed−25%	−0.08 pp	3 q
UHSUniversal Health Services, Inc. Class B	0.14%	405,540	$33M	held	—	3 q
AATAmerican Assets Trust, Inc.	0.13%	1,004,936	$32M	added+1%	−0.01 pp	3 q
unresolvedAngie's List	0.13%	2,084,000	$32M	trimmed−8%	−0.10 pp	3 q
unresolvedFlotek Industries Inc DEL	0.13%	1,568,072	$31M	added×161.7	+0.13 pp	2 q
TILEInterface Inc	0.13%	1,451,700	$32M	trimmed−3%	−0.01 pp	3 q
KWKennedy-wilson Holdings, Inc.	0.12%	1,314,471	$29M	added+13%	+0.02 pp	3 q
VACMarriott Vacations Worldwide Corporation	0.12%	535,872	$28M	added+8%	+0.02 pp	3 q
unresolvedCovance Inc	0.11%	300,000	$26M	held	—	3 q
unresolvedKeyw Holding Corp	0.11%	1,958,470	$26M	trimmed−13%	−0.03 pp	3 q
unresolvedTesoro Logistics LP	0.11%	518,999	$27M	added+1%	−0.03 pp	3 q
8TGThermon Group Holdings Inc	0.11%	1,000,000	$27M	trimmed−0%	0.00 pp	3 q
WABWabtec Inc.	0.11%	366,750	$27M	added×7.2	+0.10 pp	2 q
unresolvedWestern Refng Logistics LP	0.11%	1,040,130	$27M	new	+0.11 pp	new
unresolvedBonanza Creek Energy Inc	0.10%	530,747	$23M	added+2%	−0.02 pp	3 q
unresolvedBrookfield Residential Pptys	0.10%	976,200	$24M	added+37%	+0.03 pp	3 q
ECLEcolab, Inc.	0.10%	242,138	$25M	trimmed−6%	−0.02 pp	3 q
FRCBFirst Republic Bk CA	0.10%	451,916	$24M	held	—	3 q
PODDInsulet Corporation	0.10%	650,000	$24M	trimmed−49%	−0.11 pp	3 q
ISRGIntuitive Surgical Inc.	0.10%	60,000	$23M	trimmed−37%	−0.06 pp	3 q
SXCSuncoke Energy Inc	0.10%	1,017,417	$23M	added0%	+0.02 pp	3 q
unresolvedValero Energy Partners LP	0.10%	727,790	$25M	new	+0.10 pp	new
unresolvedBrookfield Asset Mgmt Inc	0.09%	558,621	$22M	added+8%	0.00 pp	3 q
CERNCerner Corp	0.09%	409,888	$23M	added0%	−0.01 pp	3 q
unresolvedEndologix Inc	0.09%	1,288,000	$22M	held	—	3 q
unresolvedForest City Enterprises Inc	0.09%	1,113,394	$21M	added+68%	+0.03 pp	3 q
unresolvedPrecision Castparts Corp	0.09%	76,392	$21M	trimmed−7%	0.00 pp	3 q
unresolvedStarz	0.09%	778,260	$23M	trimmed−34%	−0.06 pp	3 q
DISCKDiscovery Inc-c	0.08%	232,858	$20M	trimmed−5%	−0.01 pp	3 q
LOWLowe's Companies Inc.	0.08%	390,014	$19M	trimmed−14%	−0.02 pp	3 q
MNManning & Napier, Inc.	0.08%	1,027,529	$18M	trimmed−2%	0.00 pp	3 q
unresolvedPerrigo Co	0.08%	126,830	$19M	trimmed−38%	−0.03 pp	3 q
BIPBrookfield Infrastructure Partners L.P.	0.08%	465,263	$18M	added+45%	+0.02 pp	3 q
unresolvedBravo Brio Restaurant Group	0.07%	1,000,000	$16M	trimmed−20%	−0.02 pp	3 q
unresolvedForestar Group Inc.	0.07%	808,572	$17M	trimmed−24%	−0.03 pp	3 q
MGMistras Group Inc.	0.07%	850,000	$18M	trimmed−54%	−0.07 pp	3 q
OISOil States International, Inc.	0.07%	161,881	$16M	added+2%	−0.01 pp	3 q
unresolvedStrategic Hotels & Resorts Inc	0.07%	1,906,476	$18M	added+23%	+0.01 pp	3 q
unresolvedZulily Inc	0.07%	390,238	$16M	new	+0.07 pp	new
AMZNAmazon.Com Inc	0.06%	34,660	$14M	added0%	+0.01 pp	3 q
CTXSCitrix Systems Inc	0.06%	213,546	$14M	held	—	3 q
unresolvedGoogle Inc.	0.06%	13,305	$15M	trimmed−0%	+0.01 pp	3 q
NEOGNeogen Corp	0.06%	325,050	$15M	held	—	3 q
unresolvedSfx Entmt Inc	0.06%	1,256,112	$15M	new	+0.06 pp	new
SFMSprouts Farmers Market, Inc.	0.06%	375,631	$14M	trimmed−12%	−0.03 pp	2 q
SXCPSunCoke Energy Partners, L.P.	0.06%	564,907	$15M	added+2%	0.00 pp	3 q
AMTAmerican Tower Corporation	0.05%	156,679	$13M	added+56%	+0.02 pp	3 q
CONECyrusOne Inc	0.05%	573,741	$13M	added+55%	+0.02 pp	3 q
DNRDenbury Resources, Inc.	0.05%	745,599	$12M	trimmed−8%	−0.02 pp	3 q
HHCThe Howard Hughes Corporation	0.05%	105,541	$13M	added×5.5	+0.04 pp	3 q
unresolvedLeucadia National	0.05%	422,370	$12M	trimmed−20%	−0.02 pp	3 q
OCOwens Corning	0.05%	291,430	$12M	added×2.3	+0.03 pp	3 q
unresolvedQuintiles Transnatio Hldgs I	0.05%	251,929	$12M	trimmed−23%	−0.02 pp	3 q
RHTRed Hat Inc	0.05%	229,762	$13M	trimmed−2%	0.00 pp	3 q
TTEKTetra Tech Inc	0.05%	425,000	$12M	trimmed−19%	−0.01 pp	3 q
unresolvedZillow	0.05%	161,000	$13M	added+43%	+0.01 pp	3 q
SINASina Corp	0.05%	141,615	$12M	added×3.8	+0.04 pp	3 q
unresolvedAthlon Energy Inc	0.04%	333,618	$10M	added+3%	−0.01 pp	2 q
STAYExtended Stay America, Inc. Paired Share	0.04%	347,351	$9M	new	+0.04 pp	new
METAMeta Platforms, Inc. Class A	0.04%	166,670	$9M	held	—	3 q
GRPNGroupon, Inc.	0.04%	752,000	$9M	added+68%	+0.02 pp	2 q
unresolvedIpc The Hospitalist Co Inc	0.04%	150,000	$9M	held	—	3 q
MHKMohawk Industries, Inc.	0.04%	65,796	$10M	added+1%	0.00 pp	3 q
unresolvedRyanair Holdings PLC ADR	0.04%	196,054	$9M	trimmed−85%	−0.27 pp	3 q
TWTRTwitter, Inc.	0.04%	149,669	$10M	new	+0.04 pp	new
VNOVornado Realty Trust	0.04%	109,904	$10M	added+19%	0.00 pp	3 q
GLNGGolar LNG Ltd	0.04%	243,957	$9M	added+2%	0.00 pp	3 q
AAPLApple Inc.	0.03%	11,598	$7M	trimmed−3%	0.00 pp	3 q
BLDRBuilders FirstSource, Inc.	0.03%	920,856	$7M	trimmed−21%	0.00 pp	3 q
ENVEnvestnet, Inc.	0.03%	167,400	$7M	new	+0.03 pp	new
FMXFomento Economico Mexicano, S.a.b. De C.v.	0.03%	63,300	$6M	added×15.8	+0.03 pp	3 q
unresolvedFoundation Medicine	0.03%	271,516	$6M	new	+0.03 pp	new
unresolvedImperva Inc	0.03%	163,820	$8M	added+60%	+0.01 pp	3 q
MDSOMedidata Solutions, Inc.	0.03%	121,000	$7M	new	+0.03 pp	new
NFLXNetFlix Inc	0.03%	17,000	$6M	added+10%	+0.01 pp	2 q
PRLBProto Labs, Inc.	0.03%	100,000	$7M	trimmed−71%	−0.09 pp	3 q
CRMSalesforce, Inc.	0.03%	125,500	$7M	trimmed−11%	0.00 pp	3 q
SFLYShutterfly, Inc.	0.03%	146,000	$7M	trimmed−19%	−0.02 pp	3 q
unresolvedSirona Dental Systems Inc	0.03%	90,300	$6M	held	—	3 q
TPHTri Pointe Homes, Inc.	0.03%	362,027	$7M	trimmed−35%	−0.01 pp	3 q
DATATableau Software, Inc.	0.03%	100,000	$7M	held	—	3 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.03%	435,900	$8M	added×19.0	+0.03 pp	3 q
VNETVNET Group, Inc.	0.03%	275,900	$6M	added×3.4	+0.02 pp	3 q
unresolvedVca Inc	0.03%	200,000	$6M	held	—	3 q
unresolvedVince Hldg Corp	0.03%	251,800	$8M	new	+0.03 pp	new
unresolvedWuxi Pharmatech Adr	0.03%	167,200	$6M	added×9.8	+0.03 pp	3 q
unresolvedWestern Gas Equity Partners	0.03%	180,888	$7M	held	—	3 q
unresolvedXoom Corporation	0.03%	302,803	$8M	added+41%	0.00 pp	3 q
MLNXMellanox Technologies Ltd	0.03%	198,869	$8M	added+75%	+0.01 pp	2 q
NBISNebius Group N.V. Class A	0.03%	158,350	$7M	added×4.2	+0.02 pp	3 q
BCCBoise Cascade Company	0.02%	182,800	$5M	trimmed−23%	−0.01 pp	3 q
CMECME Group Inc.	0.02%	59,197	$5M	trimmed−52%	−0.02 pp	3 q
CRTOCriteo S.A.	0.02%	127,507	$4M	new	+0.02 pp	new
EBAYeBay Inc	0.02%	68,877	$4M	added+10%	0.00 pp	3 q
unresolvedEducation Realty Trust, Inc.	0.02%	623,788	$6M	added+28%	0.00 pp	3 q
unresolvedIntercontinental Exchange Ange	0.02%	25,500	$6M	held	—	3 q
LULUlululemon athletica inc.	0.02%	100,152	$6M	trimmed−36%	−0.03 pp	3 q
MPLXMplx LP	0.02%	82,500	$4M	trimmed−91%	−0.13 pp	3 q
MAMastercard Incorporated	0.02%	5,998	$5M	added0%	0.00 pp	3 q
unresolvedMonsanto Co	0.02%	49,724	$6M	added+13%	0.00 pp	3 q
ORLYO'Reilly Automotive, Inc.	0.02%	38,180	$5M	trimmed−28%	−0.01 pp	3 q
unresolvedPandora Media Inc	0.02%	181,500	$5M	held	—	2 q
unresolvedQunar ADR	0.02%	211,147	$6M	new	+0.02 pp	new
unresolvedRose Rock Midstream L P	0.02%	118,215	$5M	added+2%	0.00 pp	3 q
SQMSociedad Quimica y Minera de Chile SA	0.02%	150,200	$4M	added×23.1	+0.02 pp	3 q
SBUXStarbucks Corp	0.02%	49,769	$4M	trimmed−0%	0.00 pp	3 q
TOLToll Brothers, Inc.	0.02%	134,673	$5M	added+37%	+0.01 pp	3 q
VVISA Inc.	0.02%	26,466	$6M	held	—	3 q
unresolvedVitacost Com Inc	0.02%	831,800	$5M	trimmed−72%	−0.10 pp	3 q
unresolvedWhole Foods Market	0.02%	69,610	$4M	trimmed−8%	0.00 pp	3 q
HOLIHollysys Automation Technolo	0.02%	197,500	$4M	added×7.9	+0.02 pp	3 q
unresolvedSodastream International Ltd	0.02%	99,000	$5M	held	—	3 q
ASMLASML Holding NV	0.02%	41,662	$4M	held	—	2 q
CPACopa Holdings, S.A.	0.02%	37,000	$6M	added×14.8	+0.02 pp	2 q
unresolvedGolar Lng Partners LP	0.02%	177,292	$5M	added+1%	−0.01 pp	3 q
AAgilent Technologies Inc.	0.01%	26,000	$1M	held	—	3 q
ALGNAlign Technology Inc	0.01%	29,800	$2M	held	—	3 q
BXPBXP, Inc.	0.01%	12,300	$1M	added+12%	0.00 pp	3 q
unresolvedClubcorp Holdings Inc	0.01%	91,900	$2M	new	+0.01 pp	new
COSTCostco Wholesale Corp	0.01%	14,396	$2M	held	—	3 q
OMCOmnicom Group Inc.	0.01%	26,167	$2M	held	—	3 q
RHIRobert Half Inc.	0.01%	81,004	$3M	held	—	3 q
SPGSimon Property Group, Inc.	0.01%	9,900	$2M	added+27%	0.00 pp	3 q
YUMYum! Brands, Inc.	0.01%	44,385	$3M	held	—	3 q
CHKPCheck Point Software Technologies Ltd	0.01%	23,361	$2M	added+9%	0.00 pp	3 q
unresolvedFranks Intl N V	0.01%	105,315	$3M	trimmed−53%	−0.02 pp	2 q
SDLPSeadrill Partners LLC	0.01%	44,574	$1M	added+7%	0.00 pp	3 q
APCAnadarko Petroleum Corp	0.00%	4,139	$328,000	added+8%	0.00 pp	3 q
ARAntero Resources Corporation	0.00%	8,400	$533,000	new	0.00 pp	new
PETXAratana Therapeutics, Inc.	0.00%	6,360	$121,000	new	0.00 pp	new
ASCMAAscent Capital Group, Inc. Series A	0.00%	3,830	$328,000	new	0.00 pp	new
ATROAstronics Corp	0.00%	4,050	$207,000	new	0.00 pp	new
unresolvedAtlas Energy LP	0.00%	24,350	$1M	added×3.3	0.00 pp	3 q
BIDUBaidu, Inc.	0.00%	573	$102,000	held	—	3 q
unresolvedBarracuda Networks Inc	0.00%	9,430	$374,000	new	0.00 pp	new
BIOSOption Care Health, Inc.	0.00%	37,530	$278,000	new	0.00 pp	new
CECOCeco Environmental Corp	0.00%	10,530	$170,000	new	0.00 pp	new
CTRACoterra Energy Inc.	0.00%	13,500	$523,000	new	0.00 pp	new
GTLSChart Inds Inc	0.00%	8,094	$774,000	added+80%	0.00 pp	3 q
CHDNChurchill Downs Inc	0.00%	3,250	$291,000	new	0.00 pp	new
unresolvedCobalt Intl Energy Inc	0.00%	20,195	$332,000	added+87%	0.00 pp	3 q
unresolvedCraft Brew Alliance Inc	0.00%	7,079	$116,000	new	0.00 pp	new
unresolvedCredit Suisse Group Spon ADR	0.00%	25,000	$776,000	held	—	3 q
EOGEOG Resources, Inc.	0.00%	2,484	$417,000	added+57%	0.00 pp	2 q
EHTHeHealth, Inc.	0.00%	6,030	$280,000	new	0.00 pp	new
unresolvedE2OPEN Inc	0.00%	11,400	$273,000	new	0.00 pp	new
FRGIFiesta Restaurant Group, Inc.	0.00%	1,100	$57,000	new	0.00 pp	new
FEYEFireEye, Inc.	0.00%	5,114	$223,000	new	0.00 pp	new
FLSFlowserve Corporation	0.00%	6,300	$497,000	new	0.00 pp	new
FCXFreeport-McMoran Inc.	0.00%	7,837	$296,000	added+73%	0.00 pp	3 q
GRFSGrifois, S.A.	0.00%	27,000	$975,000	held	—	3 q
GPORGulfport Energy Corporation	0.00%	15,636	$987,000	added×3.1	0.00 pp	3 q
HALHalliburton Company	0.00%	19,596	$994,000	added+44%	0.00 pp	3 q
IBNICICI Bank Limited	0.00%	2,117	$79,000	held	—	3 q
IWMiShares Russell 2000 ETF	0.00%	249	$29,000	new	0.00 pp	new
unresolvedKodiak Oil & Gas Corp	0.00%	51,502	$577,000	added+22%	0.00 pp	3 q
MPCMarathon Petroleum Corporation	0.00%	6,878	$631,000	added×2.4	0.00 pp	3 q
MCHXMarchex, Inc. Class B	0.00%	26,850	$232,000	new	0.00 pp	new
unresolvedMicros Sys Inc	0.00%	3,076	$176,000	trimmed−98%	−0.04 pp	3 q
NOVNOV Inc.	0.00%	7,043	$560,000	added+23%	0.00 pp	3 q
unresolvedNew Oriental Ed & Tech Grp I	0.00%	3,236	$102,000	held	—	3 q
NBLNoble Energy, Inc.	0.00%	9,749	$664,000	added+1%	0.00 pp	3 q
unresolvedNovadaq Technologies Inc	0.00%	13,330	$220,000	new	0.00 pp	new
PDFSPDF Solutions Inc	0.00%	9,280	$238,000	new	0.00 pp	new
PCRXPacira BioSciences, Inc.	0.00%	6,495	$373,000	new	0.00 pp	new
PKOHPark-Ohio Holdings Corp	0.00%	2,380	$125,000	new	0.00 pp	new
POWIPower Integrations Inc	0.00%	4,000	$223,000	new	0.00 pp	new
PRIMPrimoris Services Corporation	0.00%	23,652	$736,000	added+19%	0.00 pp	3 q
RNETRigNet, Inc.	0.00%	13,930	$668,000	added+79%	0.00 pp	3 q
unresolvedSciquest Inc	0.00%	7,530	$214,000	new	0.00 pp	new
unresolvedSpectranetics Corp	0.00%	10,780	$269,000	new	0.00 pp	new
SUSuncor Energy, Inc.	0.00%	21,000	$736,000	added+17%	0.00 pp	2 q
unresolvedSuperior Energy Services Inc	0.00%	30,957	$824,000	added+7%	0.00 pp	3 q
SYTSyngenta Ag-adr	0.00%	12,000	$959,000	held	—	3 q
unresolvedTallgrass Energy Partners LP	0.00%	40,042	$1M	added+52%	0.00 pp	3 q
unresolvedTesoro Corp	0.00%	8,677	$508,000	added+50%	0.00 pp	3 q
unresolvedTextura Corp	0.00%	3,680	$110,000	new	0.00 pp	new
VEEVVeeva Systems Inc.	0.00%	12,396	$398,000	new	0.00 pp	new
unresolvedWestern Gas Partners LP	0.00%	5,837	$360,000	held	—	3 q
unresolvedYouku Inc ADR	0.00%	1,265	$38,000	added+44%	0.00 pp	3 q
unresolvedEnsco PLC	0.00%	3,558	$203,000	held	—	3 q
GLREGreenlight Captial RE, LTD. Class A	0.00%	5,580	$188,000	held	—	3 q
unresolvedQiagen N.V	0.00%	10,200	$236,000	trimmed−49%	0.00 pp	3 q
DVADaVita Inc.	—	−600,000	—	exited	−0.16 pp	—
SWKStanley Black & Decker, Inc.	—	−218,250	—	exited	−0.09 pp	—
ACTGAcacia Research Corporation	—	−750,000	—	exited	−0.08 pp	—
SSWSeaspan Corp	—	−734,231	—	exited	−0.08 pp	—
MRCYMercury Systems Inc.	—	−1,500,000	—	exited	−0.07 pp	—
unresolvedHalcon Res Corp	—	−2,814,722	—	exited	−0.06 pp	—
unresolvedAshford Hospitality Trust Inc	—	−776,300	—	exited	−0.04 pp	—
FTNTFortinet, Inc.	—	−170,500	—	exited	−0.02 pp	—
unresolvedLifelock Inc	—	−258,000	—	exited	−0.02 pp	—
unresolvedNq Mobile Inc - ADR	—	−140,000	—	exited	−0.01 pp	—
unresolvedCytec Inds Inc	—	−1,584	—	exited	0.00 pp	—
EVTCEvertec, Inc.	—	−5,397	—	exited	0.00 pp	—
PRKSUnited Parks & Resorts Inc.	—	−11,200	—	exited	0.00 pp	—
SW5Southwestern Energy Co	—	−6,957	—	exited	0.00 pp	—
BPY-UCADBrookfield Property Partners	—	−5,582	—	exited	0.00 pp	—
RDWRRadware Ltd.	—	−50,000	—	exited	0.00 pp	—
CSTMConstellium SE Class A	—	−39,000	—	exited	0.00 pp	—