Baron Capital

Q4 2014 13F · by Ron Baron, CEO

As of: Dec 31, 2014
Filed: Feb 18, 2015
US stock: $24.9B · prev $24.1B
Positions: 361 · prev 357
Options notional: $0
Documents: 1· 1 amendment

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%

Moves345 since the prior filing

+5.4 pp in · −5.8 pp out

New 32 +1.73 pp
Added 132 +3.69 pp
Trimmed 153 −3.88 pp
Exited 28 −1.97 pp

The book

Diversified · behaves like 102 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 16% a year, about 6.2 years per position

Low
Moderate
High

Top 5 positions12% of US stock

IT Gartner, Inc. trimmed+0.27 pp trimmed+0.273.0%
unresolved Itc Hldgs Corp trimmed+0.18 pp trimmed+0.182.4%
IDXX Idexx Laboratories Inc trimmed+0.36 pp trimmed+0.362.1%
ACGL Arch Capital Group Ltd trimmed+0.08 pp trimmed+0.082.1%
CSGP CoStar Group Inc added+0.30 pp added+0.302.1%

Revealed late, restated

restated 1 row corrected by the filer · US stock 0.00%; later quarters recomputed 13F-HR/A · Feb 18, 2015 ↗

Positions361 in this filing · 28 exited


ITGartner, Inc.	3.03%	8,979,967	$756M	trimmed−1%	+0.27 pp	7 q
unresolvedItc Hldgs Corp	2.41%	14,899,276	$602M	trimmed−2%	+0.18 pp	7 q
IDXXIdexx Laboratories Inc	2.15%	3,623,004	$537M	trimmed−1%	+0.36 pp	7 q
ACGLArch Capital Group Ltd	2.14%	9,052,316	$535M	trimmed−0%	+0.08 pp	7 q
CSGPCoStar Group Inc	2.13%	2,888,345	$530M	added+2%	+0.30 pp	7 q
FDSFactset Research Systems	2.09%	3,712,675	$523M	added+1%	+0.24 pp	7 q
MTNVail Resorts, Inc.	1.96%	5,376,563	$490M	trimmed0%	+0.03 pp	7 q
DKSDick's Sporting Goods, Inc.	1.77%	8,906,505	$442M	trimmed−3%	+0.11 pp	7 q
MIDDMiddleby Corp	1.68%	4,233,248	$420M	trimmed−1%	+0.12 pp	7 q
MTDMettler-Toledo International	1.64%	1,356,660	$410M	added0%	+0.20 pp	7 q
HHyatt Hotels Corporation	1.63%	6,754,562	$407M	trimmed−0%	−0.07 pp	7 q
UNFIUnited Natural Foods Inc	1.53%	4,945,645	$382M	trimmed−0%	+0.27 pp	7 q
UAAUnder Armour, Inc.	1.49%	5,462,338	$371M	trimmed−3%	−0.12 pp	7 q
unresolvedSBA Comms Corp	1.45%	3,267,404	$362M	trimmed−5%	−0.13 pp	7 q
GWRGenesee & Wyoming Inc.	1.40%	3,884,000	$349M	trimmed−1%	−0.16 pp	7 q
BKDBrookdale Senior Living, Inc.	1.37%	9,337,821	$342M	added0%	+0.13 pp	7 q
CHHChoice Hotels Intnl.	1.26%	5,612,787	$314M	trimmed−0%	+0.05 pp	7 q
KMXCarMax Inc.	1.13%	4,248,661	$283M	trimmed−4%	+0.28 pp	7 q
AKXAnsys Inc	1.11%	3,364,223	$276M	added0%	+0.06 pp	7 q
GLPIGaming and Leisure Properties, Inc.	1.10%	9,316,194	$273M	trimmed−0%	−0.10 pp	5 q
VRSKVerisk Analytics, Inc.	1.05%	4,107,796	$263M	trimmed−2%	−0.01 pp	7 q
BFAMBright Horizons Family Solutions Inc.	1.04%	5,524,729	$260M	trimmed−1%	+0.07 pp	7 q
ILMNIllumina Inc	1.04%	1,408,277	$260M	trimmed−5%	+0.03 pp	7 q
SSNCSS&C Technologies Inc	1.04%	4,435,632	$259M	added+15%	+0.34 pp	7 q
TSLATesla, Inc.	1.03%	1,151,237	$256M	added+11%	−0.01 pp	4 q
MANUManchester United PLC	1.03%	16,094,792	$256M	added+2%	−0.05 pp	7 q
GWREGuidewire Software, Inc.	1.02%	5,020,951	$254M	trimmed−1%	+0.08 pp	7 q
SCHWThe Charles Schwab Corporation	1.02%	8,438,431	$255M	trimmed−0%	−0.01 pp	7 q
unresolvedColfax Corp	1.01%	4,869,573	$251M	trimmed−9%	−0.26 pp	7 q
AL1Sumisho Air Lease Corp	1.00%	7,304,124	$251M	added+14%	+0.14 pp	7 q
TRGPTarga Resources Corp.	1.00%	2,357,637	$250M	added0%	−0.33 pp	7 q
THSTreehouse Foods, Inc.	0.96%	2,803,639	$240M	trimmed−3%	−0.01 pp	7 q
CYHCommunity Health Systems, Inc.	0.95%	4,378,070	$236M	trimmed−0%	−0.05 pp	7 q
FLTCorpay, Inc.	0.94%	1,571,434	$234M	trimmed−9%	−0.07 pp	7 q
MMSMAXIMUS, Inc.	0.84%	3,809,705	$209M	trimmed−0%	+0.21 pp	7 q
CSTECaesarstone Ltd.	0.83%	3,459,283	$207M	trimmed−0%	+0.09 pp	7 q
unresolvedEquinix Inc	0.82%	905,462	$205M	trimmed−1%	+0.02 pp	7 q
FASTFastenal Co	0.82%	4,308,585	$205M	trimmed−0%	+0.02 pp	7 q
unresolvedFinancial Engines	0.80%	5,484,906	$200M	added+8%	+0.08 pp	7 q
PRIPrimerica, Inc.	0.78%	3,597,096	$195M	added0%	+0.06 pp	7 q
CBRECbre Group, Inc.	0.76%	5,532,816	$189M	trimmed−6%	+0.03 pp	7 q
unresolvedThe Carlyle Group	0.73%	6,667,654	$183M	added+3%	−0.09 pp	7 q
GNRCGenerac Holdings Inc	0.72%	3,850,644	$180M	trimmed−0%	+0.07 pp	7 q
TDGTransDigm Group Incorporated	0.69%	875,000	$172M	trimmed−8%	−0.04 pp	7 q
unresolvedLumber Liquidators Hldgs Inc	0.65%	2,432,200	$161M	added+11%	+0.13 pp	7 q
DEIDouglas Emmett, Inc.	0.63%	5,543,293	$157M	added+7%	+0.08 pp	7 q
VACMarriott Vacations Worldwide Corporation	0.63%	2,101,836	$157M	added0%	+0.08 pp	7 q
unresolvedAdvent Software Inc	0.61%	4,965,043	$152M	trimmed−2%	−0.05 pp	7 q
CHDChurch & Dwight Co., Inc.	0.61%	1,944,469	$153M	trimmed−0%	+0.04 pp	7 q
unresolvedLasalle Hotel Pptys	0.59%	3,610,900	$146M	trimmed−9%	+0.02 pp	7 q
BERYBerry Global Group, Inc.	0.57%	4,500,000	$142M	held	—	7 q
CLBCore Laboratories Inc.	0.57%	1,176,468	$142M	trimmed−18%	−0.30 pp	7 q
unresolvedFEI Company	0.54%	1,500,515	$136M	held	—	7 q
CNSCohen & Steers Inc.	0.53%	3,124,481	$131M	added0%	+0.03 pp	7 q
WSTWest Pharmaceutical Services, Inc.	0.53%	2,485,135	$132M	added+1%	+0.07 pp	7 q
DOORMasonite International Corp	0.52%	2,109,234	$130M	added+38%	+0.17 pp	3 q
BAHBooz Allen Hamilton Holding Corporation	0.51%	4,760,741	$126M	trimmed−1%	+0.04 pp	7 q
CPRTCopart Inc	0.51%	3,511,379	$128M	trimmed−4%	+0.03 pp	7 q
MSCIMSCI, Inc.	0.48%	2,550,607	$121M	trimmed−0%	−0.02 pp	7 q
CXOConcho Resources Inc.	0.47%	1,177,617	$117M	trimmed−35%	−0.47 pp	7 q
AYIAcuity Inc.	0.46%	825,000	$116M	held	—	7 q
unresolvedDevry Ed Group Inc	0.46%	2,432,590	$115M	trimmed−0%	+0.03 pp	7 q
ALXAlexander's Inc.	0.45%	259,082	$113M	trimmed−1%	+0.04 pp	7 q
BNFTBenefitfocus, Inc.	0.45%	3,435,622	$113M	added+42%	+0.18 pp	5 q
unresolvedWaste Connections Inc	0.44%	2,500,000	$110M	held	—	7 q
HPHelmerich & Payne, Inc.	0.43%	1,588,212	$107M	trimmed−35%	−0.57 pp	7 q
unresolvedHomeaway Inc	0.43%	3,630,149	$108M	trimmed−3%	−0.12 pp	7 q
PENNPENN Entertainment, Inc.	0.43%	7,764,735	$107M	added+2%	+0.08 pp	7 q
unresolvedUltimate Software Group Inc	0.43%	729,034	$107M	held	—	7 q
unresolvedNord Anglia Education Inc	0.43%	5,619,459	$107M	added+3%	+0.05 pp	3 q
LKQLKQ Corporation	0.42%	3,747,058	$105M	trimmed−8%	−0.03 pp	7 q
MORNMorningstar, Inc.	0.42%	1,630,497	$106M	trimmed−0%	−0.04 pp	7 q
AREAlexandria Real Estate Equities, Inc.	0.41%	1,152,739	$102M	added+9%	+0.09 pp	7 q
unresolvedPanera Bread Co	0.41%	586,020	$102M	trimmed−0%	+0.01 pp	7 q
TECHBio-Techne Corp.	0.39%	1,053,220	$97M	new	+0.39 pp	new
SAMBoston Beer Company	0.38%	328,830	$95M	held	—	7 q
OAKOaktree Capital Group, LLC	0.38%	1,852,853	$96M	trimmed−0%	−0.01 pp	7 q
unresolvedPinnacle Entertainment Inc.	0.37%	4,098,367	$91M	trimmed−31%	−0.25 pp	7 q
IRDMIridium Communications Inc.	0.36%	9,190,510	$90M	held	—	3 q
unresolvedPriceline Grp Inc	0.36%	77,964	$89M	trimmed−16%	−0.09 pp	7 q
unresolvedDigitalglobe Inc	0.35%	2,811,699	$87M	added+9%	+0.05 pp	7 q
WYNNWynn Resorts Ltd	0.35%	587,036	$87M	trimmed−40%	−0.41 pp	7 q
unresolvedMadison Square Garden Co	0.34%	1,125,000	$85M	trimmed−10%	0.00 pp	7 q
PSXPPhillips 66 Partners LP	0.34%	1,214,397	$84M	added0%	0.00 pp	6 q
unresolvedMattress Firm Hldg Corp	0.33%	1,418,000	$82M	added0%	−0.02 pp	7 q
TREXTrex Company, Inc.	0.33%	1,941,374	$83M	added+1%	+0.05 pp	4 q
unresolvedNielsen Holdings N V	0.33%	1,813,890	$81M	trimmed−3%	−0.01 pp	7 q
ACIWACI Worldwide, Inc.	0.32%	4,000,000	$81M	held	—	7 q
DXCMDexCom, Inc.	0.30%	1,340,731	$74M	trimmed−0%	+0.08 pp	7 q
ICLRIcon Plc	0.30%	1,469,024	$75M	trimmed−3%	−0.06 pp	7 q
EWEdwards Lifesciences Corp	0.29%	576,836	$73M	trimmed−31%	−0.06 pp	7 q
unresolvedInterval Leisure Group Inc	0.29%	3,504,157	$73M	trimmed−0%	+0.01 pp	7 q
unresolvedOn Assignment Inc	0.29%	2,187,056	$73M	trimmed−8%	+0.02 pp	7 q
RXNZurn Elkay Water Solutions Corporation	0.29%	2,547,207	$72M	trimmed−0%	−0.01 pp	7 q
unresolvedStarwood HOTELS&RESORTS Wrld	0.29%	906,699	$74M	trimmed−23%	−0.12 pp	7 q
unresolvedGlobe Specialty Metals Inc	0.28%	4,000,000	$69M	held	—	7 q
JLLJones Lang LaSalle, Inc.	0.28%	463,716	$70M	added+1%	+0.04 pp	7 q
unresolvedPall Corp	0.28%	684,800	$69M	trimmed−0%	+0.04 pp	7 q
APAMArtisan Partners Asset Management Inc.	0.27%	1,357,522	$69M	trimmed−13%	−0.07 pp	7 q
CAKECheesecake Factory (The)	0.27%	1,350,000	$68M	trimmed−10%	−0.01 pp	7 q
FOSLFossil Group, Inc.	0.27%	600,000	$66M	trimmed−32%	−0.07 pp	6 q
unresolvedIconix Brand Group Inc	0.27%	2,000,000	$68M	held	—	7 q
ESNTEssent Group LTD	0.27%	2,618,456	$67M	added+12%	+0.06 pp	5 q
PEGAPegasystems Inc	0.26%	3,098,654	$64M	trimmed−5%	0.00 pp	7 q
WEXWEX Inc.	0.26%	650,000	$64M	held	—	7 q
CSUSonida Senior Living, Inc.	0.25%	2,523,915	$63M	added+2%	+0.03 pp	7 q
unresolvedDiamond Resorts Intl Inc	0.25%	2,241,703	$63M	trimmed−8%	+0.02 pp	6 q
SSTKShutterstock, Inc.	0.25%	910,557	$63M	trimmed−8%	−0.04 pp	7 q
VMIValmont Industries, Inc.	0.25%	489,085	$62M	trimmed−0%	−0.02 pp	7 q
WYNTravel + Leisure Co.	0.25%	730,875	$63M	trimmed−23%	−0.07 pp	7 q
NCLHNorwegian Cruise Line Holdings Ltd.	0.25%	1,360,412	$64M	added+29%	+0.09 pp	7 q
CHSPChesapeake Lodging Trust	0.23%	1,540,000	$57M	trimmed−0%	+0.04 pp	7 q
CGNXCognex Corp	0.23%	1,400,000	$58M	held	—	7 q
unresolvedCooper Cos Inc/The	0.23%	355,785	$58M	trimmed−0%	0.00 pp	4 q
HDHome Depot, Inc.	0.23%	548,616	$58M	trimmed−28%	−0.06 pp	5 q
NDSNNordson Corp	0.23%	750,000	$58M	held	—	7 q
FGAAmerican Campus Communities	0.22%	1,321,309	$55M	added+5%	+0.03 pp	7 q
SLGSL Green Realty Corp.	0.22%	451,369	$54M	added0%	+0.03 pp	7 q
HSICHenry Schein Inc	0.22%	409,509	$56M	added0%	+0.02 pp	7 q
DFRGDel Frisco's Restaurant Group, Inc.	0.21%	2,250,000	$53M	added0%	+0.03 pp	6 q
MSMMSC Industrial Direct Co., Inc. Class A	0.21%	648,742	$53M	trimmed−0%	−0.02 pp	7 q
unresolvedMwi Veterinary Supply Inc	0.21%	315,300	$54M	added+9%	+0.03 pp	3 q
MCMoelis & Company	0.21%	1,485,274	$52M	added+89%	+0.10 pp	3 q
MHKMohawk Industries, Inc.	0.21%	341,019	$53M	trimmed−9%	0.00 pp	7 q
RLRalph Lauren Corporation	0.21%	281,480	$52M	trimmed−5%	+0.01 pp	7 q
unresolvedAirgas Inc	0.20%	439,860	$51M	added0%	0.00 pp	7 q
CLHClean Harbors, Inc	0.20%	1,050,000	$50M	held	—	7 q
BJRIBJ's Restaurants, Inc.	0.19%	950,000	$48M	held	—	7 q
unresolvedCepheid	0.19%	884,701	$48M	trimmed−3%	+0.02 pp	7 q
CHEFThe Chef's Warehouse Inc	0.19%	2,093,960	$48M	added+5%	+0.06 pp	7 q
unresolvedHilton Worldwide Hldgs Inc	0.19%	1,861,002	$49M	new	+0.19 pp	new
unresolvedLiberty Media Corp Delaware	0.19%	1,373,335	$48M	trimmed−2%	−0.08 pp	2 q
unresolvedLinkedin Corp Cl A	0.19%	211,441	$49M	trimmed−10%	−0.01 pp	7 q
unresolvedPlatform Specialty Prods Cor	0.19%	2,000,000	$46M	held	—	4 q
ROPRoper Technologies, Inc.	0.19%	296,534	$46M	held	—	7 q
unresolvedTumi Holdings Inc.	0.19%	2,035,000	$48M	trimmed−1%	+0.02 pp	7 q
HQYHealthEquity, Inc	0.18%	1,744,675	$44M	added+8%	+0.06 pp	2 q
TIFTiffany & Co.	0.18%	410,699	$44M	held	—	7 q
UHSUniversal Health Services, Inc. Class B	0.18%	413,228	$46M	trimmed−1%	0.00 pp	7 q
WABWabtec Inc.	0.18%	504,182	$44M	added+6%	+0.02 pp	6 q
unresolvedScorpio Tankers Inc	0.18%	5,124,404	$45M	added0%	0.00 pp	7 q
SCORcomScore, Inc.	0.17%	923,726	$43M	trimmed−16%	0.00 pp	4 q
DISCKDiscovery Inc-c	0.17%	1,259,144	$42M	trimmed−12%	−0.05 pp	7 q
LSTRLandstar System Inc	0.17%	593,300	$43M	held	—	7 q
unresolvedTowers Watson & Co.	0.17%	379,672	$43M	trimmed−3%	+0.01 pp	3 q
TSCOTractor Supply Co	0.17%	536,535	$42M	trimmed−8%	+0.02 pp	7 q
BABAAlibaba Group Holding Limited	0.16%	386,446	$40M	added+15%	+0.04 pp	2 q
IEXIDEX Corporation	0.16%	499,805	$39M	added×3.6	+0.12 pp	2 q
VRSNVeriSign Inc	0.16%	686,448	$39M	added0%	0.00 pp	7 q
AATAmerican Assets Trust, Inc.	0.15%	963,700	$38M	trimmed−1%	+0.02 pp	7 q
DISCADiscovery, Inc. Series A	0.15%	1,084,642	$37M	trimmed−1%	−0.02 pp	7 q
unresolvedFlotek Industries Inc DEL	0.15%	2,021,323	$38M	added+2%	−0.06 pp	6 q
KWKennedy-wilson Holdings, Inc.	0.15%	1,433,620	$36M	added+1%	+0.01 pp	7 q
PAGPenske Automotive Group, Inc.	0.15%	750,000	$37M	held	—	7 q
SRCLStericycle Inc	0.15%	276,231	$36M	held	—	7 q
unresolvedAcxiom Corp	0.14%	1,707,425	$35M	trimmed−2%	+0.02 pp	7 q
TCSThe Container Store Group, Inc.	0.14%	1,764,180	$34M	trimmed−41%	−0.13 pp	5 q
unresolvedIHS Inc 'A'	0.14%	311,230	$35M	trimmed−30%	−0.09 pp	7 q
LOWLowe's Companies Inc.	0.14%	498,392	$34M	trimmed−24%	0.00 pp	7 q
TROWT Rowe Price Group Inc	0.14%	403,798	$35M	trimmed−0%	+0.01 pp	7 q
SHLXShell Midstream Partners, L.P.	0.14%	832,789	$34M	new	+0.14 pp	new
SPGSimon Property Group, Inc.	0.14%	189,557	$35M	added+59%	+0.06 pp	7 q
TOLToll Brothers, Inc.	0.14%	1,006,995	$35M	added×2.0	+0.08 pp	7 q
AMTAmerican Tower Corporation	0.13%	335,579	$33M	added+55%	+0.05 pp	7 q
DHID.R. Horton Inc.	0.13%	1,280,520	$32M	added+1%	+0.02 pp	2 q
SHOSunstone Hotel Investors, Inc.	0.13%	1,959,728	$32M	added+5%	+0.02 pp	7 q
unresolvedWestern Refng Logistics LP	0.13%	1,063,039	$32M	trimmed−1%	−0.03 pp	5 q
unresolvedMobileye Nv	0.13%	771,499	$31M	trimmed−22%	−0.09 pp	2 q
unresolvedBrookfield Asset Mgmt Inc	0.12%	594,759	$30M	added+2%	+0.01 pp	7 q
unresolvedForest City Enterprises Inc	0.12%	1,391,449	$30M	added+13%	+0.02 pp	7 q
unresolvedStrategic Hotels & Resorts Inc	0.12%	2,177,737	$29M	trimmed−4%	+0.01 pp	7 q
unresolvedValero Energy Partners LP	0.12%	712,400	$31M	trimmed−0%	−0.01 pp	5 q
unresolvedBrookfield Residential Pptys	0.11%	1,137,331	$27M	trimmed−27%	−0.01 pp	7 q
CTLTCatalent, Inc.	0.11%	1,000,000	$28M	held	—	2 q
CERNCerner Corp	0.11%	422,360	$27M	trimmed−0%	+0.01 pp	7 q
unresolvedDominion Midstream Partners	0.11%	681,711	$27M	new	+0.11 pp	new
GGGGraco Inc	0.11%	350,000	$28M	held	—	7 q
PRAHPRA Health Sciences, Inc.	0.11%	1,184,473	$29M	new	+0.11 pp	new
BIPBrookfield Infrastructure Partners L.P.	0.11%	655,773	$27M	added+25%	+0.03 pp	7 q
EPAYBottomline Technologies Inc	0.10%	978,750	$25M	trimmed−19%	−0.04 pp	7 q
CMDCantel Medical Corporation	0.10%	605,100	$26M	new	+0.10 pp	new
FMXFomento Economico Mexicano, S.a.b. De C.v.	0.10%	275,000	$24M	added+28%	+0.02 pp	7 q
unresolvedGol Linhas Aereas Intlg S A	0.10%	4,466,000	$26M	added+29%	+0.03 pp	3 q
HHCThe Howard Hughes Corporation	0.10%	196,198	$26M	added+38%	+0.01 pp	7 q
unresolvedQuintiles Transnatio Hldgs I	0.10%	427,749	$25M	added+6%	+0.01 pp	7 q
unresolvedRally Software Dev Corp	0.10%	2,300,000	$26M	trimmed−5%	−0.02 pp	5 q
unresolvedTerraform Pwr Inc	0.10%	775,070	$24M	added+32%	+0.03 pp	2 q
WLKPWestlake Chemical Partners LP	0.10%	869,698	$25M	added+7%	0.00 pp	2 q
BXMTBlackstone Mortgage Trust, Inc. (NEW)	0.09%	789,778	$23M	added+2%	0.00 pp	4 q
BXPBXP, Inc.	0.09%	175,273	$23M	added×13.2	+0.08 pp	7 q
BLDRBuilders FirstSource, Inc.	0.09%	3,095,518	$21M	added+3%	+0.02 pp	7 q
METAMeta Platforms, Inc. Class A	0.09%	278,148	$22M	added+3%	0.00 pp	7 q
FETForum Energy Technologies, Inc.	0.09%	1,071,442	$22M	trimmed−31%	−0.11 pp	7 q
unresolvedGeneral Growth Pptys Inc New	0.09%	820,175	$23M	new	+0.09 pp	new
KNKnowles Corporation	0.09%	1,000,000	$24M	trimmed−20%	−0.05 pp	3 q
LVSLas Vegas Sands Corp.	0.09%	395,466	$23M	trimmed−34%	−0.06 pp	7 q
unresolvedLiberty Media Corp Delaware	0.09%	639,844	$23M	trimmed−8%	−0.05 pp	7 q
37MMrc Global Inc	0.09%	1,451,898	$22M	trimmed−7%	−0.06 pp	7 q
MNROMonro, Inc.	0.09%	400,000	$23M	new	+0.09 pp	new
NEOGNeogen Corp	0.09%	445,596	$22M	held	—	7 q
PLDPrologis, Inc.	0.09%	530,162	$23M	new	+0.09 pp	new
VNOVornado Realty Trust	0.09%	188,777	$22M	added+26%	+0.03 pp	7 q
AVBAvalonBay Communities, Inc.	0.08%	121,280	$20M	new	+0.08 pp	new
ECLEcolab, Inc.	0.08%	197,469	$21M	trimmed−10%	−0.02 pp	7 q
unresolvedEducation Realty Trust, Inc.	0.08%	575,377	$21M	trimmed−43%	+0.04 pp	7 q
unresolvedExamworks Group Inc	0.08%	459,000	$19M	added×10.6	+0.07 pp	2 q
FRCBFirst Republic Bk CA	0.08%	401,916	$21M	held	—	7 q
SYNHSyneos Health, Inc. Class A	0.08%	734,000	$19M	new	+0.08 pp	new
unresolvedKeyw Holding Corp	0.08%	1,964,882	$20M	trimmed−3%	−0.01 pp	7 q
RHTRed Hat Inc	0.08%	303,087	$21M	trimmed−21%	−0.01 pp	7 q
SXCSuncoke Energy Inc	0.08%	1,035,817	$20M	added0%	−0.02 pp	7 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.08%	900,000	$20M	added+6%	+0.01 pp	7 q
unresolvedZillow	0.08%	192,040	$20M	added×4.3	+0.06 pp	7 q
AMZNAmazon.Com Inc	0.07%	56,655	$18M	added×2.4	+0.04 pp	7 q
unresolvedClubcorp Holdings Inc	0.07%	995,865	$18M	added+50%	+0.02 pp	5 q
CONECyrusOne Inc	0.07%	621,361	$17M	trimmed−37%	−0.03 pp	7 q
TILEInterface Inc	0.07%	1,106,032	$18M	trimmed−24%	−0.03 pp	7 q
PBFXPbf Logistics LP	0.07%	832,847	$18M	trimmed−8%	−0.02 pp	3 q
unresolvedPrecision Castparts Corp	0.07%	71,321	$17M	trimmed−0%	0.00 pp	7 q
RBCRBC Bearings Incorporated	0.07%	256,800	$17M	new	+0.07 pp	new
unresolvedSfx Entmt Inc	0.07%	3,750,000	$17M	held	—	5 q
SQMSociedad Quimica y Minera de Chile SA	0.07%	700,000	$17M	added+51%	+0.02 pp	7 q
SXCPSunCoke Energy Partners, L.P.	0.07%	675,000	$18M	trimmed−3%	−0.02 pp	7 q
TALTAL Education Group	0.07%	590,764	$17M	added+17%	0.00 pp	4 q
ACADAcadia Pharmaceuticals Inc.	0.06%	497,530	$16M	trimmed−1%	+0.01 pp	4 q
unresolvedBonanza Creek Energy Inc	0.06%	623,848	$15M	trimmed−18%	−0.12 pp	7 q
unresolvedGrubhub Inc	0.06%	410,064	$15M	held	—	3 q
LBRDKLiberty Broadband Corporation Class C	0.06%	307,720	$15M	new	+0.06 pp	new
unresolvedRyanair Holdings PLC ADR	0.06%	195,524	$14M	added+3%	+0.02 pp	7 q
1885807DAthenahealth Inc	0.05%	93,730	$14M	trimmed−19%	−0.01 pp	4 q
FELEFranklin Electric Co Inc	0.05%	350,000	$13M	held	—	2 q
HCSGHealthcare Services Group	0.05%	400,000	$12M	new	+0.05 pp	new
unresolvedIpc The Hospitalist Co Inc	0.05%	261,765	$12M	added+75%	+0.02 pp	7 q
unresolvedPerfect World Co Ltd	0.05%	750,000	$12M	added+21%	0.00 pp	4 q
unresolvedWestern Gas Equity Partners	0.05%	204,044	$12M	added+1%	0.00 pp	7 q
PRGOPerrigo Company PLC	0.05%	79,004	$13M	trimmed−0%	0.00 pp	3 q
CSLTCastlight Health, Inc.	0.04%	828,286	$10M	trimmed−23%	−0.02 pp	4 q
unresolvedDreamWorks Animation SKG Inc.	0.04%	500,000	$11M	trimmed−82%	−0.28 pp	6 q
ENVEnvestnet, Inc.	0.04%	179,890	$9M	added+1%	+0.01 pp	5 q
MDSOMedidata Solutions, Inc.	0.04%	189,579	$9M	trimmed−2%	0.00 pp	5 q
unresolvedSpectranetics Corp	0.04%	270,280	$9M	trimmed−13%	+0.01 pp	5 q
SUNEQSunedison Inc	0.04%	486,793	$9M	added×7.4	+0.03 pp	4 q
SKTTanger Inc.	0.04%	264,026	$10M	trimmed−17%	0.00 pp	4 q
TWTRTwitter, Inc.	0.04%	309,299	$11M	added+41%	−0.01 pp	5 q
MLNXMellanox Technologies Ltd	0.04%	225,358	$10M	added+7%	0.00 pp	6 q
AAPLApple Inc.	0.03%	76,907	$8M	held	—	7 q
unresolvedGoogle Inc.	0.03%	13,277	$7M	trimmed−2%	0.00 pp	7 q
GOOGAlphabet Inc. Class C	0.03%	16,146	$8M	added+8%	−0.01 pp	3 q
LBRDALiberty Broadband Corporation Class A	0.03%	153,860	$8M	new	+0.03 pp	new
MAMastercard Incorporated	0.03%	82,396	$7M	added+30%	+0.01 pp	7 q
unresolvedMonsanto Co	0.03%	55,313	$7M	added+5%	+0.01 pp	7 q
NCMINational CineMedia, Inc.	0.03%	500,000	$7M	trimmed−33%	−0.02 pp	7 q
NFLXNetFlix Inc	0.03%	24,853	$8M	added+30%	−0.01 pp	6 q
QLYSQualys, Inc.	0.03%	187,290	$7M	trimmed−42%	−0.01 pp	4 q
unresolvedRestoration Hardware Hldgs I	0.03%	76,622	$7M	trimmed−16%	0.00 pp	5 q
CRMSalesforce, Inc.	0.03%	141,433	$8M	added×9.0	+0.03 pp	7 q
unresolvedSolarCity Corp	0.03%	135,680	$7M	trimmed−6%	−0.01 pp	3 q
VVISA Inc.	0.03%	25,746	$7M	held	—	7 q
unresolvedWuxi Pharmatech Adr	0.03%	251,500	$8M	added+25%	0.00 pp	7 q
WDAYWorkday, Inc. Class A	0.03%	91,725	$7M	added+6%	0.00 pp	4 q
unresolvedAtlas Energy LP	0.02%	131,752	$4M	trimmed−94%	−0.35 pp	7 q
LTRPALiberty TripAdvisor Holdings, Inc. Series A	0.02%	225,924	$6M	added+14%	−0.01 pp	2 q
MANHManhattan Associates Inc	0.02%	109,512	$4M	added+1%	0.00 pp	2 q
ORLYO'Reilly Automotive, Inc.	0.02%	28,645	$6M	trimmed−7%	0.00 pp	7 q
PCRXPacira BioSciences, Inc.	0.02%	67,088	$6M	added+8%	0.00 pp	5 q
RHIRobert Half Inc.	0.02%	77,600	$5M	trimmed−1%	0.00 pp	7 q
unresolvedSirona Dental Systems Inc	0.02%	67,403	$6M	trimmed−10%	0.00 pp	7 q
SBUXStarbucks Corp	0.02%	70,994	$6M	held	—	7 q
SUNSunoco LP	0.02%	118,210	$6M	new	+0.02 pp	new
unresolvedTallgrass Energy Partners LP	0.02%	90,715	$4M	trimmed−2%	0.00 pp	7 q
GLNGGolar LNG Ltd	0.02%	153,837	$6M	added+28%	−0.01 pp	7 q
ASMLASML Holding NV	0.02%	41,028	$4M	held	—	6 q
AACHAac Holdings Inc	0.01%	50,000	$2M	new	+0.01 pp	new
AAgilent Technologies Inc.	0.01%	33,900	$1M	added+30%	0.00 pp	7 q
ALXNAlexion Pharmaceuticals Inc	0.01%	18,366	$3M	added+42%	0.00 pp	4 q
ALGNAlign Technology Inc	0.01%	27,500	$2M	held	—	7 q
AMBRAmber Road Inc	0.01%	165,000	$2M	added×2.5	+0.01 pp	3 q
unresolvedBarracuda Networks Inc	0.01%	56,100	$2M	added+11%	0.00 pp	5 q
BIIBBiogen Inc.	0.01%	9,144	$3M	added+6%	0.00 pp	4 q
BIOSOption Care Health, Inc.	0.01%	345,500	$2M	added+23%	0.00 pp	5 q
CMECME Group Inc.	0.01%	39,007	$3M	held	—	7 q
CTRACoterra Energy Inc.	0.01%	59,800	$2M	added×2.5	+0.01 pp	5 q
COHRCoherent Corp.	0.01%	22,660	$1M	trimmed−97%	−0.18 pp	7 q
COSTCostco Wholesale Corp	0.01%	15,973	$2M	held	—	7 q
DPLODiplomat Pharmacy, Inc.	0.01%	75,000	$2M	new	+0.01 pp	new
ESPREsperion Therapeutics Inc Ne	0.01%	35,200	$1M	added+47%	+0.01 pp	2 q
unresolvedE2OPEN Inc	0.01%	201,800	$2M	added+61%	+0.01 pp	5 q
FWMFairway Group Hldgs Corp Cl A Com Stk (De)	0.01%	1,000,000	$3M	held	—	7 q
FRGIFiesta Restaurant Group, Inc.	0.01%	35,000	$2M	added+3%	0.00 pp	3 q
unresolvedFoundation Medicine	0.01%	93,600	$2M	trimmed−15%	0.00 pp	5 q
GRFSGrifois, S.A.	0.01%	37,800	$1M	trimmed−12%	0.00 pp	7 q
GPORGulfport Energy Corporation	0.01%	48,236	$2M	added+38%	0.00 pp	7 q
HALHalliburton Company	0.01%	51,196	$2M	added+24%	0.00 pp	7 q
INGNInogen Inc	0.01%	65,600	$2M	added+31%	+0.01 pp	4 q
XENTIntersect ENT, Inc	0.01%	98,536	$2M	added+27%	+0.01 pp	2 q
unresolvedInventure Foods Inc	0.01%	100,000	$1M	added+18%	+0.01 pp	2 q
unresolvedJuno Therapeutics Inc	0.01%	35,000	$2M	new	+0.01 pp	new
PEParsley Energy Inc	0.01%	165,500	$3M	added+48%	0.00 pp	3 q
unresolvedPolypore International Inc	0.01%	34,563	$2M	trimmed−12%	0.00 pp	7 q
PRIMPrimoris Services Corporation	0.01%	75,102	$2M	trimmed−13%	0.00 pp	7 q
unresolvedRsp Permian Inc	0.01%	72,000	$2M	trimmed−96%	−0.17 pp	4 q
REGNRegeneron Pharmaceuticals Inc	0.01%	7,490	$3M	added+5%	0.00 pp	4 q
SMSM Energy Company	0.01%	47,848	$2M	trimmed−91%	−0.16 pp	7 q
SUSuncor Energy, Inc.	0.01%	46,000	$1M	added+59%	+0.01 pp	6 q
unresolvedSuperior Energy Services Inc	0.01%	74,257	$1M	added+27%	0.00 pp	7 q
VRNSVaronis Systems, Inc.	0.01%	73,900	$2M	added+25%	0.00 pp	4 q
VMWVMware, Inc	0.01%	28,883	$2M	trimmed−4%	0.00 pp	4 q
unresolvedWhiteWave Foods Co	0.01%	97,904	$3M	added+75%	0.00 pp	2 q
unresolvedWhole Foods Market	0.01%	58,330	$3M	held	—	7 q
YUMYum! Brands, Inc.	0.01%	42,811	$3M	held	—	7 q
CHKPCheck Point Software Technologies Ltd	0.01%	37,273	$3M	added+62%	0.00 pp	7 q
AERIAerie Pharmaceuticals, Inc.	0.00%	39,800	$1M	added×2.7	0.00 pp	2 q
APCAnadarko Petroleum Corp	0.00%	12,139	$1M	added+22%	0.00 pp	7 q
ARAntero Resources Corporation	0.00%	23,700	$962,000	added+22%	0.00 pp	5 q
BIDUBaidu, Inc.	0.00%	1,037	$236,000	held	—	7 q
BOOTBoot Barn Holdings, Inc.	0.00%	60,000	$1M	new	0.00 pp	new
CHRWC.H. Robinson Worldwide, Inc.	0.00%	2,610	$195,000	trimmed−4%	0.00 pp	7 q
CERSCerus Corp	0.00%	28,100	$175,000	new	0.00 pp	new
GTLSChart Inds Inc	0.00%	16,294	$557,000	added+1%	0.00 pp	7 q
unresolvedCoupons.com, Inc.	0.00%	65,026	$1M	added×12.9	0.00 pp	4 q
unresolvedDiamond Foods Inc	0.00%	2,514	$71,000	new	0.00 pp	new
EOGEOG Resources, Inc.	0.00%	11,868	$1M	added+34%	0.00 pp	6 q
ETEnergy Transfer LP	0.00%	21,600	$1M	new	0.00 pp	new
STAYExtended Stay America, Inc. Paired Share	0.00%	41,572	$803,000	trimmed−97%	−0.12 pp	5 q
FEYEFireEye, Inc.	0.00%	21,322	$673,000	added×4.3	0.00 pp	5 q
FLSFlowserve Corporation	0.00%	11,300	$676,000	added+14%	0.00 pp	5 q
FCXFreeport-McMoran Inc.	0.00%	13,337	$312,000	added+12%	0.00 pp	7 q
HABTThe Habit Restaurants, Inc. - Class A	0.00%	15,000	$485,000	new	0.00 pp	new
IBNICICI Bank Limited	0.00%	13,495	$156,000	held	—	7 q
unresolvedIntrawest Resorts Holdings, In	0.00%	91,100	$1M	trimmed−73%	−0.01 pp	4 q
IWPiShares Russell Mid-Cap Growth ETF	0.00%	3,327	$310,000	new	0.00 pp	new
unresolvedLiberty Tax Inc	0.00%	12,000	$429,000	new	0.00 pp	new
unresolvedLifelock Inc	0.00%	25,000	$463,000	new	0.00 pp	new
MPCMarathon Petroleum Corporation	0.00%	13,178	$1M	added+12%	0.00 pp	7 q
NOVNOV Inc.	0.00%	2,543	$167,000	trimmed−59%	0.00 pp	7 q
NBLNoble Energy, Inc.	0.00%	23,549	$1M	added+79%	0.00 pp	7 q
unresolvedNovadaq Technologies Inc	0.00%	57,600	$957,000	added+22%	0.00 pp	5 q
OASOasis Petroleum Inc	0.00%	67,538	$1M	trimmed−92%	−0.15 pp	7 q
OISOil States International, Inc.	0.00%	15,431	$755,000	trimmed−91%	−0.04 pp	7 q
unresolvedPandora Media Inc	0.00%	102	$2,000	trimmed−100%	−0.02 pp	6 q
PKOHPark-Ohio Holdings Corp	0.00%	12,000	$756,000	added+9%	0.00 pp	5 q
POWIPower Integrations Inc	0.00%	13,500	$698,000	trimmed−36%	0.00 pp	5 q
unresolvedQunar ADR	0.00%	4,150	$118,000	held	—	5 q
RVNCRevance Therapeutics, Inc.	0.00%	43,000	$728,000	held	—	4 q
REXRRexford Industrial Realty, Inc.	0.00%	75,000	$1M	new	0.00 pp	new
RNETRigNet, Inc.	0.00%	17,890	$734,000	trimmed−55%	−0.01 pp	7 q
unresolvedRose Rock Midstream L P	0.00%	16,942	$770,000	trimmed−74%	−0.02 pp	7 q
SEMGSemgroup Corp-class A	0.00%	15,400	$1M	new	0.00 pp	new
SIENSientra, Inc.	0.00%	68,500	$1M	new	0.00 pp	new
SFMSprouts Farmers Market, Inc.	0.00%	17,038	$579,000	held	—	6 q
SYTSyngenta Ag-adr	0.00%	11,600	$745,000	added+29%	0.00 pp	7 q
unresolvedTesco Corp	0.00%	95,400	$1M	added+11%	−0.01 pp	3 q
unresolvedTesoro Logistics LP	0.00%	11,528	$678,000	trimmed−95%	−0.07 pp	7 q
TXMDTherapeuticsMD, Inc.	0.00%	234,500	$1M	trimmed−19%	−0.01 pp	4 q
unresolvedUnilife Corp	0.00%	150,514	$504,000	new	0.00 pp	new
unresolvedWestern Gas Partners LP	0.00%	9,337	$682,000	added+11%	0.00 pp	7 q
unresolvedWhiting Pete Corp New	0.00%	12,858	$424,000	new	0.00 pp	new
unresolvedZoes Kitchen Inc	0.00%	15,000	$449,000	added+36%	0.00 pp	3 q
NBISNebius Group N.V. Class A	0.00%	3,138	$56,000	trimmed−99%	−0.03 pp	7 q
MMYTMakeMyTrip Limited	0.00%	2,625	$68,000	held	—	4 q
SDLPSeadrill Partners LLC	0.00%	40,477	$657,000	trimmed−3%	−0.01 pp	7 q
unresolvedConcur Technologies Inc	—	−1,078,200	—	exited	−0.57 pp	—
unresolvedTechne Corp	—	−1,053,380	—	exited	−0.41 pp	—
unresolvedAdvisory Brd Co	—	−1,384,463	—	exited	−0.27 pp	—
unresolvedSeacor Holdings Inc.	—	−499,842	—	exited	−0.15 pp	—
unresolvedCovance Inc	—	−300,000	—	exited	−0.10 pp	—
unresolvedHeartware Intl Inc	—	−314,672	—	exited	−0.10 pp	—
unresolvedAthlon Energy Inc	—	−292,476	—	exited	−0.07 pp	—
OCOwens Corning	—	−500,054	—	exited	−0.07 pp	—
MGMistras Group Inc.	—	−470,000	—	exited	−0.04 pp	—
unresolvedGolar Lng Partners LP	—	−271,432	—	exited	−0.04 pp	—
unresolvedLiberty Interactive Corp	—	−192,044	—	exited	−0.03 pp	—
unresolvedSusser Petroleum Partners LP	—	−118,210	—	exited	−0.03 pp	—
MPLXMplx LP	—	−75,000	—	exited	−0.02 pp	—
unresolvedVince Hldg Corp	—	−175,000	—	exited	−0.02 pp	—
unresolvedXoom Corporation	—	−242,303	—	exited	−0.02 pp	—
ASCMAAscent Capital Group, Inc. Series A	—	−21,300	—	exited	−0.01 pp	—
CSODCornerstone OnDemand, Inc.	—	−88,881	—	exited	−0.01 pp	—
unresolvedVca Inc	—	−50,000	—	exited	−0.01 pp	—
RMTORM2 International Inc	—	−25,000	—	exited	0.00 pp	—
CHDNChurchill Downs Inc	—	−12,000	—	exited	0.00 pp	—
DSGXDescartes Systems Group Inc	—	−23,400	—	exited	0.00 pp	—
EVEaton Vance Corp	—	−1,610	—	exited	0.00 pp	—
FB1Farmer Bros Co	—	−37,000	—	exited	0.00 pp	—
unresolvedKodiak Oil & Gas Corp	—	−65,302	—	exited	0.00 pp	—
MASIMasimo Corporation	—	−16,760	—	exited	0.00 pp	—
PDFSPDF Solutions Inc	—	−62,500	—	exited	0.00 pp	—
RMRegional Management Corp	—	−37,400	—	exited	0.00 pp	—
unresolvedYouku Inc ADR	—	−3,138	—	exited	0.00 pp	—