Baron Capital

Q4 2015 13F · by Ron Baron, CEO

As of: Dec 31, 2015
Filed: Feb 16, 2016
US stock: $21.6B · prev $22.1B
Positions: 313 · prev 342
Options notional: $0
Documents: 1· no 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%

Moves321 since the prior filing

+4.6 pp in · −5.7 pp out

New 18 +1.32 pp
Added 80 +3.28 pp
Trimmed 176 −3.14 pp
Exited 47 −2.58 pp

The book

Diversified · behaves like 84 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 15% a year, about 6.8 years per position

Low
Moderate
High

Top 5 positions15% of US stock

Positions313 in this filing · 47 exited


ITGartner, Inc.	3.52%	8,373,687	$759M	trimmed−1%	+0.31 pp	11 q
MTNVail Resorts, Inc.	3.18%	5,368,967	$687M	held	—	11 q
ACGLArch Capital Group Ltd	2.88%	8,911,643	$622M	trimmed−1%	−0.09 pp	11 q
CSGPCoStar Group Inc	2.75%	2,875,266	$594M	trimmed−1%	+0.49 pp	11 q
FDSFactset Research Systems	2.68%	3,555,775	$578M	trimmed−1%	+0.08 pp	11 q
unresolvedItc Hldgs Corp	2.36%	12,971,289	$509M	trimmed−5%	+0.31 pp	11 q
IDXXIdexx Laboratories Inc	2.33%	6,891,469	$503M	trimmed−2%	−0.04 pp	11 q
MIDDMiddleby Corp	1.96%	3,914,400	$422M	trimmed−5%	+0.01 pp	11 q
UAAUnder Armour, Inc.	1.94%	5,204,323	$420M	trimmed−2%	−0.39 pp	11 q
MTDMettler-Toledo International	1.86%	1,184,204	$402M	trimmed−5%	+0.25 pp	11 q
BFAMBright Horizons Family Solutions Inc.	1.67%	5,398,214	$361M	trimmed−2%	+0.08 pp	11 q
TSLATesla, Inc.	1.63%	1,465,675	$352M	added+15%	+0.20 pp	8 q
SSNCSS&C Technologies Inc	1.54%	4,856,756	$332M	trimmed−1%	−0.01 pp	11 q
GWREGuidewire Software, Inc.	1.47%	5,279,360	$318M	added+1%	+0.23 pp	11 q
AKXAnsys Inc	1.39%	3,243,453	$300M	trimmed−2%	+0.08 pp	11 q
HHyatt Hotels Corporation	1.38%	6,338,887	$298M	trimmed−8%	−0.09 pp	11 q
SCHWThe Charles Schwab Corporation	1.37%	8,981,783	$296M	trimmed−3%	+0.18 pp	11 q
VRSKVerisk Analytics, Inc.	1.32%	3,707,839	$285M	trimmed−4%	+0.04 pp	11 q
MANUManchester United PLC	1.30%	15,748,438	$280M	trimmed−1%	+0.06 pp	11 q
ILMNIllumina Inc	1.25%	1,404,071	$270M	trimmed−4%	+0.09 pp	11 q
unresolvedSBA Comms Corp	1.22%	2,496,919	$262M	trimmed−8%	−0.06 pp	11 q
CHHChoice Hotels Intnl.	1.20%	5,142,503	$259M	trimmed−1%	+0.08 pp	11 q
GLPIGaming and Leisure Properties, Inc.	1.19%	9,273,606	$258M	trimmed−0%	−0.05 pp	9 q
MMSMAXIMUS, Inc.	1.02%	3,896,593	$219M	added+3%	0.00 pp	11 q
DEIDouglas Emmett, Inc.	0.99%	6,832,255	$213M	added+8%	+0.17 pp	11 q
DKSDick's Sporting Goods, Inc.	0.98%	5,993,834	$212M	trimmed−22%	−0.75 pp	11 q
CBRECbre Group, Inc.	0.95%	5,962,241	$206M	added+8%	+0.15 pp	11 q
EQIXEquinix, Inc.	0.92%	654,052	$198M	trimmed−22%	−0.11 pp	4 q
MSCIMSCI, Inc.	0.85%	2,545,937	$184M	trimmed−0%	+0.17 pp	11 q
FLTCorpay, Inc.	0.83%	1,259,445	$180M	trimmed−13%	−0.07 pp	11 q
KMXCarMax Inc.	0.82%	3,269,471	$176M	trimmed−15%	−0.22 pp	11 q
AYIAcuity Inc.	0.79%	725,000	$170M	trimmed−12%	+0.14 pp	11 q
AL1Sumisho Air Lease Corp	0.79%	5,111,478	$171M	trimmed−8%	+0.02 pp	11 q
PRIPrimerica, Inc.	0.79%	3,592,842	$170M	held	—	11 q
TDGTransDigm Group Incorporated	0.79%	750,000	$171M	trimmed−12%	−0.03 pp	11 q
INOVInovalon Holdings Inc - A	0.78%	9,856,923	$168M	added+25%	+0.04 pp	4 q
unresolvedFinancial Engines	0.77%	4,923,683	$166M	trimmed−9%	+0.05 pp	11 q
CSTECaesarstone Ltd.	0.76%	3,782,138	$164M	trimmed−7%	+0.20 pp	11 q
DOORMasonite International Corp	0.73%	2,590,855	$159M	trimmed−1%	+0.01 pp	7 q
BNFTBenefitfocus, Inc.	0.72%	4,266,288	$155M	added+11%	+0.18 pp	9 q
CHDChurch & Dwight Co., Inc.	0.72%	1,839,782	$156M	trimmed−1%	+0.01 pp	11 q
THSTreehouse Foods, Inc.	0.67%	1,835,210	$144M	trimmed−10%	−0.04 pp	11 q
WSTWest Pharmaceutical Services, Inc.	0.66%	2,367,992	$143M	trimmed−5%	+0.05 pp	11 q
FASTFastenal Co	0.65%	3,438,478	$140M	trimmed−5%	+0.05 pp	11 q
NCLHNorwegian Cruise Line Holdings Ltd.	0.64%	2,359,469	$138M	added+4%	+0.05 pp	11 q
unresolvedMobileye Nv	0.64%	3,278,052	$139M	trimmed−10%	−0.11 pp	6 q
TECHBio-Techne Corp.	0.62%	1,496,971	$135M	added+7%	+0.04 pp	5 q
MORNMorningstar, Inc.	0.61%	1,636,974	$132M	added+7%	+0.06 pp	11 q
unresolvedUltimate Software Group Inc	0.61%	675,888	$132M	trimmed−7%	+0.02 pp	11 q
unresolvedNord Anglia Education Inc	0.60%	6,431,177	$130M	added+5%	+0.04 pp	7 q
BAHBooz Allen Hamilton Holding Corporation	0.59%	4,123,534	$127M	trimmed−3%	+0.09 pp	11 q
unresolvedPinnacle Entertainment Inc.	0.59%	4,125,379	$128M	trimmed−1%	−0.05 pp	11 q
PENNPENN Entertainment, Inc.	0.57%	7,697,691	$123M	trimmed−0%	−0.01 pp	11 q
VACMarriott Vacations Worldwide Corporation	0.56%	2,105,162	$120M	added+10%	−0.03 pp	11 q
unresolvedPanera Bread Co	0.56%	622,810	$121M	held	—	11 q
UNFIUnited Natural Foods Inc	0.56%	3,090,307	$122M	trimmed−31%	−0.42 pp	11 q
unresolvedWaste Connections Inc	0.56%	2,150,000	$121M	trimmed−4%	+0.07 pp	11 q
AREAlexandria Real Estate Equities, Inc.	0.52%	1,249,134	$113M	added0%	+0.04 pp	11 q
unresolvedThe Carlyle Group	0.49%	6,754,733	$106M	trimmed−2%	−0.03 pp	11 q
unresolvedOn Assignment Inc	0.49%	2,363,546	$106M	trimmed−3%	+0.09 pp	11 q
OAKOaktree Capital Group, LLC	0.46%	2,103,407	$100M	added+2%	0.00 pp	11 q
unresolvedTowers Watson & Co.	0.45%	762,284	$98M	added+18%	+0.11 pp	7 q
ALXAlexander's Inc.	0.43%	242,296	$93M	trimmed−2%	+0.01 pp	11 q
CNSCohen & Steers Inc.	0.42%	2,973,140	$91M	held	—	11 q
unresolvedFEI Company	0.42%	1,125,000	$90M	trimmed−24%	−0.07 pp	11 q
DXCMDexCom, Inc.	0.41%	1,090,473	$89M	trimmed−18%	−0.11 pp	11 q
JLLJones Lang LaSalle, Inc.	0.41%	552,413	$88M	added+24%	+0.12 pp	11 q
unresolvedHilton Worldwide Hldgs Inc	0.40%	4,061,541	$87M	added+16%	+0.04 pp	5 q
MCMoelis & Company	0.39%	2,862,560	$84M	trimmed−0%	+0.05 pp	7 q
ICLRIcon Plc	0.39%	1,084,201	$84M	trimmed−5%	+0.03 pp	11 q
DPLODiplomat Pharmacy, Inc.	0.37%	2,349,053	$80M	added+3%	+0.07 pp	5 q
MGMMgm Resorts International	0.37%	3,479,403	$79M	trimmed−7%	+0.06 pp	4 q
unresolvedSmart & Final Stores Inc	0.37%	4,329,682	$79M	added+10%	+0.09 pp	4 q
unresolvedClubcorp Holdings Inc	0.36%	4,216,179	$77M	added+3%	−0.04 pp	9 q
IRDMIridium Communications Inc.	0.35%	9,045,571	$76M	trimmed−0%	+0.10 pp	7 q
unresolvedPriceline Grp Inc	0.35%	59,643	$76M	trimmed−5%	0.00 pp	11 q
SUMSummit Materials, Inc. Class A	0.35%	3,718,555	$75M	added+3%	+0.05 pp	4 q
BERYBerry Global Group, Inc.	0.34%	2,000,000	$72M	trimmed−27%	−0.03 pp	11 q
SAMBoston Beer Company	0.34%	366,414	$74M	trimmed−0%	−0.01 pp	11 q
TREXTrex Company, Inc.	0.33%	1,900,400	$72M	added+8%	+0.07 pp	8 q
SYNHSyneos Health, Inc. Class A	0.32%	1,434,628	$70M	added+4%	+0.07 pp	5 q
APAMArtisan Partners Asset Management Inc.	0.31%	1,871,379	$67M	added+47%	+0.11 pp	11 q
MHKMohawk Industries, Inc.	0.30%	344,219	$65M	added+25%	+0.07 pp	11 q
unresolvedPress Ganey Holdings Inc	0.30%	2,061,900	$65M	trimmed−2%	+0.02 pp	3 q
GWRGenesee & Wyoming Inc.	0.29%	1,165,413	$63M	trimmed−61%	−0.50 pp	11 q
PEGAPegasystems Inc	0.29%	2,303,245	$63M	trimmed−1%	+0.03 pp	11 q
SLGSL Green Realty Corp.	0.29%	561,993	$63M	added+14%	+0.05 pp	11 q
HSICHenry Schein Inc	0.29%	393,705	$62M	trimmed−0%	+0.05 pp	11 q
WEXWEX Inc.	0.29%	700,000	$62M	trimmed−1%	+0.01 pp	11 q
unresolvedMattress Firm Hldg Corp	0.28%	1,350,000	$60M	trimmed−5%	+0.01 pp	11 q
SPGSimon Property Group, Inc.	0.27%	298,734	$58M	added+52%	+0.11 pp	11 q
PRAHPRA Health Sciences, Inc.	0.26%	1,223,623	$55M	added+4%	+0.05 pp	5 q
VRSNVeriSign Inc	0.26%	633,931	$55M	trimmed−3%	+0.05 pp	11 q
MSGSMadison Square Garden Sports Corp.	0.25%	333,333	$54M	new	+0.25 pp	new
ROPRoper Technologies, Inc.	0.25%	288,003	$55M	trimmed−0%	+0.05 pp	11 q
unresolvedValero Energy Partners LP	0.25%	1,042,900	$54M	trimmed−3%	+0.04 pp	9 q
RCLRoyal Caribbean Group	0.25%	526,850	$53M	held	—	2 q
ACIWACI Worldwide, Inc.	0.24%	2,400,000	$51M	trimmed−31%	−0.09 pp	11 q
CFMSConformis, Inc.	0.24%	2,963,446	$51M	added+43%	+0.07 pp	2 q
unresolvedDiamond Resorts Intl Inc	0.24%	1,996,266	$51M	trimmed−35%	−0.09 pp	10 q
EWEdwards Lifesciences Corp	0.24%	664,199	$52M	trimmed−6%	+0.01 pp	11 q
EFIIElectronics for Imaging	0.24%	1,100,000	$51M	added+10%	+0.04 pp	4 q
HDHome Depot, Inc.	0.24%	390,816	$52M	trimmed−23%	−0.02 pp	9 q
BLDRBuilders FirstSource, Inc.	0.23%	4,489,186	$50M	trimmed−18%	−0.08 pp	11 q
CGNXCognex Corp	0.23%	1,500,000	$51M	trimmed−14%	−0.04 pp	11 q
KWKennedy-wilson Holdings, Inc.	0.23%	2,022,012	$49M	added+7%	+0.04 pp	11 q
WYNTravel + Leisure Co.	0.23%	674,626	$49M	trimmed−3%	0.00 pp	11 q
AVBAvalonBay Communities, Inc.	0.22%	263,707	$49M	added+47%	+0.08 pp	5 q
BXPBXP, Inc.	0.22%	373,301	$48M	added+69%	+0.10 pp	11 q
VMRKVivmark Residential	0.22%	591,383	$48M	new	+0.22 pp	new
TOLToll Brothers, Inc.	0.22%	1,428,295	$48M	held	—	11 q
BABAAlibaba Group Holding Limited	0.21%	566,420	$46M	added+39%	+0.10 pp	6 q
BJRIBJ's Restaurants, Inc.	0.21%	1,050,000	$46M	held	—	11 q
unresolvedBrookfield Asset Mgmt Inc	0.21%	1,449,809	$46M	added+3%	+0.01 pp	11 q
unresolvedLiberty Media Corp Delaware	0.21%	1,200,000	$46M	held	—	6 q
unresolvedLinkedin Corp Cl A	0.21%	205,898	$46M	trimmed−0%	+0.03 pp	11 q
ZGZillow Group Inc Class A	0.21%	1,737,707	$45M	trimmed−8%	−0.04 pp	4 q
ZZillow Group, Inc. Class C	0.21%	1,937,434	$45M	trimmed−23%	−0.10 pp	2 q
AMZNAmazon.Com Inc	0.20%	62,928	$43M	trimmed−3%	+0.05 pp	11 q
AMTAmerican Tower Corporation	0.20%	453,279	$44M	held	—	11 q
CMDCantel Medical Corporation	0.20%	700,000	$43M	held	—	5 q
CTLTCatalent, Inc.	0.20%	1,750,000	$44M	trimmed−13%	−0.02 pp	6 q
CAKECheesecake Factory (The)	0.20%	950,000	$44M	held	—	11 q
CYHCommunity Health Systems, Inc.	0.20%	1,608,288	$43M	trimmed−60%	−0.57 pp	11 q
TSCOTractor Supply Co	0.20%	502,766	$43M	trimmed−3%	0.00 pp	11 q
HQYHealthEquity, Inc	0.19%	1,671,458	$42M	trimmed−2%	−0.04 pp	6 q
LOWLowe's Companies Inc.	0.19%	551,308	$42M	added+14%	+0.04 pp	11 q
PFGCPerformance Food Group Company	0.19%	1,774,405	$41M	new	+0.19 pp	new
NLSNNielsen Holdings PLC	0.19%	901,982	$42M	trimmed−3%	0.00 pp	2 q
unresolvedScorpio Tankers Inc	0.19%	5,190,304	$42M	trimmed−0%	−0.03 pp	11 q
unresolvedForest City Enterprises Inc	0.18%	1,807,038	$40M	trimmed−3%	+0.01 pp	11 q
unresolvedGeneral Growth Pptys Inc New	0.18%	1,467,917	$40M	added+37%	+0.05 pp	5 q
HMHCHoughton Mifflin Harcourt Company	0.18%	1,750,000	$38M	trimmed−1%	+0.02 pp	3 q
HHCThe Howard Hughes Corporation	0.18%	346,493	$39M	added+5%	+0.01 pp	11 q
NDSNNordson Corp	0.18%	600,000	$38M	trimmed−12%	−0.01 pp	11 q
PRGOPerrigo Company PLC	0.18%	261,138	$38M	new	+0.18 pp	new
AATAmerican Assets Trust, Inc.	0.17%	953,000	$37M	trimmed−0%	−0.01 pp	11 q
CTRPTrip.com Group Limited	0.17%	772,812	$36M	added+38%	+0.09 pp	4 q
unresolvedInterval Leisure Group Inc	0.17%	2,359,505	$37M	trimmed−26%	−0.09 pp	11 q
TALTAL Education Group	0.17%	800,818	$37M	trimmed−0%	+0.05 pp	8 q
unresolvedAcxiom Corp	0.16%	1,688,235	$35M	trimmed−0%	+0.01 pp	11 q
unresolvedAirgas Inc	0.16%	248,812	$34M	trimmed−33%	+0.01 pp	11 q
AZPNAspen Technology Inc	0.16%	890,576	$34M	added×6.7	+0.14 pp	2 q
BKDBrookdale Senior Living, Inc.	0.16%	1,884,180	$35M	trimmed−41%	−0.17 pp	11 q
GNRCGenerac Holdings Inc	0.16%	1,131,393	$34M	trimmed−46%	−0.13 pp	11 q
unresolvedQuintiles Transnatio Hldgs I	0.16%	507,583	$35M	added+8%	+0.01 pp	11 q
GSMFerroglobe PLC	0.16%	3,250,000	$35M	new	+0.16 pp	new
CHEFThe Chef's Warehouse Inc	0.15%	2,000,000	$33M	held	—	11 q
CHSPChesapeake Lodging Trust	0.15%	1,275,000	$32M	trimmed−4%	−0.01 pp	11 q
unresolvedCooper Cos Inc/The	0.15%	243,262	$33M	trimmed−27%	−0.07 pp	8 q
FRCBFirst Republic Bk CA	0.15%	482,041	$32M	trimmed−0%	+0.01 pp	11 q
IEXIDEX Corporation	0.15%	427,533	$33M	added+11%	+0.03 pp	6 q
RBCRBC Bearings Incorporated	0.15%	500,000	$32M	added+6%	+0.02 pp	5 q
UHSUniversal Health Services, Inc. Class B	0.15%	270,003	$32M	trimmed−34%	−0.08 pp	11 q
WABWabtec Inc.	0.15%	451,877	$32M	trimmed−17%	−0.07 pp	10 q
BIPBrookfield Infrastructure Partners L.P.	0.15%	841,058	$32M	trimmed−36%	−0.07 pp	11 q
ESNTEssent Group LTD	0.15%	1,515,950	$33M	trimmed−3%	−0.02 pp	9 q
CSUSonida Senior Living, Inc.	0.14%	1,417,712	$30M	trimmed−40%	−0.07 pp	11 q
CXOConcho Resources Inc.	0.14%	327,042	$30M	trimmed−11%	−0.02 pp	11 q
METAMeta Platforms, Inc. Class A	0.14%	286,941	$30M	trimmed−2%	+0.02 pp	11 q
unresolvedFlotek Industries Inc DEL	0.14%	2,676,652	$31M	added0%	−0.06 pp	10 q
unresolvedIHS Inc 'A'	0.14%	259,600	$31M	held	—	11 q
MNROMonro, Inc.	0.14%	450,000	$30M	held	—	5 q
unresolvedStarwood HOTELS&RESORTS Wrld	0.14%	444,044	$31M	trimmed−22%	−0.03 pp	11 q
VIRTVirtu Financial, Inc. Class A	0.14%	1,329,477	$30M	trimmed−0%	0.00 pp	3 q
CLBCore Laboratories Inc.	0.14%	286,520	$31M	trimmed−25%	−0.03 pp	11 q
DFRGDel Frisco's Restaurant Group, Inc.	0.13%	1,750,000	$28M	trimmed−13%	0.00 pp	10 q
FMXFomento Economico Mexicano, S.a.b. De C.v.	0.13%	300,000	$28M	held	—	11 q
TROWT Rowe Price Group Inc	0.13%	381,366	$27M	added+4%	+0.01 pp	11 q
unresolvedSpectranetics Corp	0.13%	1,794,488	$27M	trimmed−15%	+0.02 pp	9 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.13%	1,250,000	$28M	held	—	11 q
unresolvedTerraform Global Inc	0.13%	5,323,768	$28M	added+6%	−0.01 pp	2 q
GOOGAlphabet Inc. Class C	0.12%	32,828	$25M	added+2%	+0.03 pp	7 q
HCSGHealthcare Services Group	0.12%	750,000	$26M	held	—	3 q
NEOGNeogen Corp	0.12%	444,596	$25M	held	—	11 q
PRTYParty City Holdco Inc.	0.12%	2,048,000	$26M	added+91%	+0.04 pp	3 q
TIFTiffany & Co.	0.12%	347,639	$27M	trimmed−0%	0.00 pp	11 q
ACADAcadia Pharmaceuticals Inc.	0.11%	638,000	$23M	held	—	8 q
unresolvedDigitalglobe Inc	0.11%	1,529,700	$24M	trimmed−35%	−0.09 pp	11 q
unresolvedLasalle Hotel Pptys	0.11%	985,100	$25M	trimmed−61%	−0.21 pp	11 q
SHLXShell Midstream Partners, L.P.	0.11%	566,037	$24M	trimmed−31%	0.00 pp	5 q
SCORcomScore, Inc.	0.10%	511,000	$21M	added+2%	0.00 pp	8 q
unresolvedExamworks Group Inc	0.10%	799,200	$21M	added+17%	+0.01 pp	6 q
MSGNMSG Networks Inc.	0.10%	1,000,000	$21M	new	+0.10 pp	new
INXNInterxion Holding NV	0.10%	690,000	$21M	new	+0.10 pp	new
GOOGLAlphabet Inc. Class A	0.09%	24,272	$19M	trimmed−6%	+0.02 pp	2 q
unresolvedColfax Corp	0.09%	827,273	$19M	trimmed−64%	−0.22 pp	11 q
Iridium Communications Iconvertible	0.09%	66,300	$20M	held	—	4 q
unresolvedPlatform Specialty Prods Cor	0.09%	1,500,000	$19M	trimmed−25%	−0.02 pp	8 q
unresolvedQihoo 360 Technology Co. ADR	0.09%	281,000	$20M	added+34%	+0.04 pp	3 q
unresolvedDominion Midstream Partners	0.08%	552,811	$17M	trimmed−2%	+0.01 pp	5 q
MAMastercard Incorporated	0.08%	185,631	$18M	added+1%	+0.01 pp	11 q
PBFXPbf Logistics LP	0.08%	800,000	$17M	held	—	7 q
PAGPenske Automotive Group, Inc.	0.08%	400,000	$17M	trimmed−43%	−0.07 pp	11 q
unresolvedSoufun Holdings Ltd ADR	0.08%	2,420,000	$18M	added+54%	+0.03 pp	3 q
CERNCerner Corp	0.07%	249,852	$15M	trimmed−10%	−0.01 pp	11 q
unresolvedColumbia Pipeline Partners L	0.07%	901,843	$16M	added+8%	+0.02 pp	4 q
LBRDKLiberty Broadband Corporation Class C	0.07%	300,000	$16M	held	—	5 q
TCSThe Container Store Group, Inc.	0.06%	1,548,828	$13M	trimmed−8%	−0.05 pp	9 q
RLRalph Lauren Corporation	0.06%	112,223	$13M	trimmed−0%	0.00 pp	11 q
RHTRed Hat Inc	0.06%	153,832	$13M	trimmed−27%	−0.01 pp	11 q
SRCLStericycle Inc	0.06%	111,402	$13M	trimmed−59%	−0.11 pp	11 q
WLKPWestlake Chemical Partners LP	0.06%	537,950	$12M	trimmed−15%	+0.01 pp	6 q
CPACopa Holdings, S.A.	0.06%	270,000	$13M	added+50%	+0.03 pp	2 q
ALXNAlexion Pharmaceuticals Inc	0.05%	61,177	$12M	added+88%	+0.03 pp	8 q
1885807DAthenahealth Inc	0.05%	63,276	$10M	added+28%	+0.02 pp	8 q
CDKCDK Global, Inc.	0.05%	227,415	$11M	trimmed−0%	0.00 pp	3 q
unresolvedLiberty Media Corp Delaware	0.05%	300,000	$12M	held	—	11 q
RYAAYRyanair Holdings plc	0.05%	132,893	$11M	new	+0.05 pp	new
SSLSasol Limited	0.05%	371,500	$10M	added+49%	+0.02 pp	4 q
TEGPTallgrass Energy GP, LP	0.05%	631,131	$10M	trimmed−43%	−0.05 pp	3 q
WBCWabco Holdings Inc.	0.05%	101,688	$10M	trimmed−0%	0.00 pp	4 q
FEYEFireEye, Inc.	0.04%	411,380	$9M	added+44%	0.00 pp	9 q
TILEInterface Inc	0.04%	500,000	$10M	trimmed−33%	−0.04 pp	11 q
unresolvedJuno Therapeutics Inc	0.04%	200,000	$9M	held	—	2 q
LBRDALiberty Broadband Corporation Class A	0.04%	150,000	$8M	held	—	5 q
NFLXNetFlix Inc	0.04%	83,067	$10M	trimmed−13%	0.00 pp	10 q
CRMSalesforce, Inc.	0.04%	110,883	$9M	trimmed−2%	0.00 pp	11 q
SBUXStarbucks Corp	0.04%	137,066	$8M	trimmed−3%	0.00 pp	11 q
VVISA Inc.	0.04%	109,954	$9M	trimmed−3%	0.00 pp	11 q
MLNXMellanox Technologies Ltd	0.04%	185,989	$8M	trimmed−11%	0.00 pp	10 q
AAPLApple Inc.	0.03%	70,065	$7M	trimmed−5%	−0.01 pp	11 q
unresolvedIconix Brand Group Inc	0.03%	1,000,000	$7M	trimmed−24%	−0.05 pp	11 q
JMEINJumei International-adr	0.03%	700,000	$6M	added+75%	+0.01 pp	3 q
MKTXMarketAxess Holdings Inc.	0.03%	49,402	$6M	trimmed−1%	+0.01 pp	2 q
NOWServicenow, Inc.	0.03%	73,264	$6M	added+9%	+0.01 pp	2 q
unresolvedWestern Gas Equity Partners	0.03%	154,010	$6M	trimmed−16%	0.00 pp	11 q
CMECME Group Inc.	0.02%	44,911	$4M	added+1%	0.00 pp	11 q
IWMiShares Russell 2000 ETF	0.02%	42,835	$5M	added×8.7	+0.02 pp	2 q
LINDLindblad Expeditions Holdings Inc.	0.02%	433,686	$5M	trimmed−13%	0.00 pp	2 q
MANHManhattan Associates Inc	0.02%	70,800	$5M	held	—	6 q
unresolvedNewfield Expl Co	0.02%	113,000	$4M	added+20%	+0.01 pp	4 q
ORLYO'Reilly Automotive, Inc.	0.02%	17,550	$4M	trimmed−7%	0.00 pp	11 q
PEParsley Energy Inc	0.02%	243,600	$4M	added+11%	+0.01 pp	7 q
QLYSQualys, Inc.	0.02%	138,450	$5M	trimmed−7%	0.00 pp	8 q
unresolvedRsp Permian Inc	0.02%	151,200	$4M	added×2.1	+0.01 pp	8 q
REGNRegeneron Pharmaceuticals Inc	0.02%	7,463	$4M	held	—	8 q
unresolvedRestoration Hardware Hldgs I	0.02%	57,492	$5M	trimmed−11%	−0.01 pp	9 q
RHIRobert Half Inc.	0.02%	77,600	$4M	held	—	11 q
TWTRTwitter, Inc.	0.02%	157,520	$4M	added+15%	0.00 pp	9 q
YUMYum! Brands, Inc.	0.02%	50,705	$4M	added+8%	0.00 pp	11 q
ACTAllergan PLC	0.02%	11,752	$4M	new	+0.02 pp	new
ASMLASML Holding NV	0.02%	36,958	$3M	trimmed−7%	0.00 pp	10 q
ALGNAlign Technology Inc	0.01%	27,500	$2M	held	—	11 q
BIIBBiogen Inc.	0.01%	10,240	$3M	trimmed−13%	−0.01 pp	8 q
COSTCostco Wholesale Corp	0.01%	15,152	$2M	trimmed−3%	0.00 pp	11 q
EOGEOG Resources, Inc.	0.01%	26,768	$2M	added+78%	+0.01 pp	10 q
unresolvedEducation Realty Trust, Inc.	0.01%	40,000	$2M	new	+0.01 pp	new
ETEnergy Transfer LP	0.01%	193,300	$3M	added×3.4	0.00 pp	5 q
ENVEnvestnet, Inc.	0.01%	83,975	$3M	trimmed−56%	−0.02 pp	9 q
GRFSGrifois, S.A.	0.01%	35,000	$1M	held	—	11 q
HALHalliburton Company	0.01%	79,996	$3M	added+31%	0.00 pp	11 q
HPHelmerich & Payne, Inc.	0.01%	31,775	$2M	trimmed−13%	0.00 pp	11 q
HESHess Corporation	0.01%	33,800	$2M	new	+0.01 pp	new
LKQLKQ Corporation	0.01%	44,400	$1M	trimmed−98%	−0.26 pp	11 q
MTSIMACOM Technology Solutions Holdings, Inc	0.01%	40,000	$2M	trimmed−38%	0.00 pp	4 q
MPCMarathon Petroleum Corporation	0.01%	53,156	$3M	added+50%	0.00 pp	11 q
unresolvedMemorial Resource Dev Corp	0.01%	90,200	$1M	new	+0.01 pp	new
MRCYMercury Systems Inc.	0.01%	95,303	$2M	trimmed−29%	0.00 pp	4 q
unresolvedMonsanto Co	0.01%	31,973	$3M	held	—	11 q
NBLNoble Energy, Inc.	0.01%	87,049	$3M	added+65%	0.00 pp	11 q
PRIMPrimoris Services Corporation	0.01%	66,202	$1M	added+7%	+0.01 pp	11 q
SLBSLB Limited	0.01%	28,400	$2M	new	+0.01 pp	new
SUSuncor Energy, Inc.	0.01%	46,000	$1M	held	—	10 q
unresolvedTallgrass Energy Partners LP	0.01%	46,940	$2M	added+34%	0.00 pp	11 q
VLOValero Energy Corporation	0.01%	37,800	$3M	new	+0.01 pp	new
unresolvedWestern Refng Logistics LP	0.01%	65,789	$2M	trimmed−88%	−0.04 pp	9 q
unresolvedWhiteWave Foods Co	0.01%	71,818	$3M	trimmed−20%	−0.01 pp	6 q
WINGWingstop Inc	0.01%	70,000	$2M	trimmed−3%	0.00 pp	3 q
CHKPCheck Point Software Technologies Ltd	0.01%	33,964	$3M	trimmed−15%	0.00 pp	11 q
AMNAMN Healthcare Services	0.00%	6,400	$199,000	new	0.00 pp	new
AERIAerie Pharmaceuticals, Inc.	0.00%	2,448	$60,000	held	—	6 q
AAgilent Technologies Inc.	0.00%	23,000	$962,000	held	—	11 q
AMBRAmber Road Inc	0.00%	54,400	$277,000	trimmed−84%	−0.01 pp	7 q
BIDUBaidu, Inc.	0.00%	1,517	$287,000	held	—	11 q
BOOTBoot Barn Holdings, Inc.	0.00%	13,000	$160,000	trimmed−74%	0.00 pp	5 q
CHRWC.H. Robinson Worldwide, Inc.	0.00%	2,080	$129,000	held	—	11 q
unresolvedCepheid	0.00%	14,368	$525,000	trimmed−98%	−0.17 pp	11 q
CERSCerus Corp	0.00%	110,000	$695,000	trimmed−37%	0.00 pp	5 q
COHRCoherent Corp.	0.00%	4,660	$303,000	trimmed−79%	−0.01 pp	11 q
EPAMEpam Systems, Inc.	0.00%	2,137	$168,000	new	0.00 pp	new
ESEESCO Technologies, Inc.	0.00%	18,000	$651,000	added+38%	0.00 pp	2 q
ESPREsperion Therapeutics Inc Ne	0.00%	12,200	$272,000	held	—	6 q
FRGIFiesta Restaurant Group, Inc.	0.00%	12,500	$420,000	trimmed−60%	−0.01 pp	7 q
unresolvedFoundation Medicine	0.00%	22,700	$478,000	trimmed−71%	−0.01 pp	9 q
GKOSGlaukos Corporation	0.00%	41,352	$1M	trimmed−46%	−0.01 pp	3 q
unresolvedGrubhub Inc	0.00%	44,233	$1M	trimmed−74%	−0.02 pp	7 q
HABTThe Habit Restaurants, Inc. - Class A	0.00%	35,000	$807,000	trimmed−20%	0.00 pp	2 q
IBNICICI Bank Limited	0.00%	17,613	$138,000	held	—	11 q
INGNInogen Inc	0.00%	5,000	$200,000	trimmed−84%	−0.01 pp	8 q
JDJD.com, Inc.	0.00%	2,733	$88,000	new	0.00 pp	new
unresolvedKeyw Holding Corp	0.00%	47,319	$285,000	trimmed−96%	−0.03 pp	11 q
unresolvedKrispy Kreme Doughnuts Inc	0.00%	55,000	$829,000	trimmed−8%	0.00 pp	2 q
LULUlululemon athletica inc.	0.00%	17,000	$892,000	added+13%	0.00 pp	2 q
MPLXMplx LP	0.00%	23,500	$924,000	new	0.00 pp	new
MEOHMethanex Corp	0.00%	24,700	$815,000	held	—	4 q
NNBRNN Inc	0.00%	27,600	$440,000	trimmed−66%	−0.01 pp	4 q
NEOSNeos Therapeutics, Inc	0.00%	10,000	$143,000	trimmed−76%	0.00 pp	2 q
unresolvedNovadaq Technologies Inc	0.00%	38,000	$484,000	trimmed−46%	0.00 pp	9 q
OISOil States International, Inc.	0.00%	39,031	$1M	added+37%	0.00 pp	11 q
PCRXPacira BioSciences, Inc.	0.00%	12,923	$992,000	added+87%	0.00 pp	2 q
unresolvedQunar ADR	0.00%	2,792	$147,000	trimmed−64%	0.00 pp	9 q
QUOTQuotient Technology Inc	0.00%	40,000	$273,000	trimmed−56%	0.00 pp	2 q
RXNZurn Elkay Water Solutions Corporation	0.00%	19,699	$357,000	trimmed−95%	−0.03 pp	11 q
REXRRexford Industrial Realty, Inc.	0.00%	45,000	$736,000	trimmed−67%	−0.01 pp	5 q
SG7Sage Therapeutics Inc	0.00%	6,404	$373,000	trimmed−53%	0.00 pp	3 q
SUNSunoco LP	0.00%	1,317	$52,000	trimmed−98%	−0.01 pp	5 q
unresolvedTerraform Pwr Inc	0.00%	73,410	$923,000	added+11%	0.00 pp	6 q
TXMDTherapeuticsMD, Inc.	0.00%	32,400	$336,000	trimmed−80%	0.00 pp	8 q
VRNSVaronis Systems, Inc.	0.00%	17,000	$320,000	trimmed−83%	−0.01 pp	8 q
VMWVMware, Inc	0.00%	17,675	$1M	trimmed−56%	−0.01 pp	8 q
unresolvedZoes Kitchen Inc	0.00%	12,000	$336,000	trimmed−66%	−0.01 pp	7 q
GLNGGolar LNG Ltd	0.00%	68,075	$1M	trimmed−65%	−0.02 pp	11 q
unresolvedMadison Square Garden Co	—	−1,000,000	—	exited	−0.33 pp	—
unresolvedStrategic Hotels & Resorts Inc	—	−4,106,547	—	exited	−0.26 pp	—
unresolvedGlobe Specialty Metals Inc	—	−3,963,062	—	exited	−0.22 pp	—
CLHClean Harbors, Inc	—	−1,050,000	—	exited	−0.21 pp	—
MSMMSC Industrial Direct Co., Inc. Class A	—	−642,240	—	exited	−0.18 pp	—
TRGPTarga Resources Corp.	—	−787,804	—	exited	−0.18 pp	—
LSTRLandstar System Inc	—	−564,000	—	exited	−0.16 pp	—
VMIValmont Industries, Inc.	—	−377,998	—	exited	−0.16 pp	—
AWIArmstrong World Industries, Inc.	—	−606,031	—	exited	−0.13 pp	—
unresolvedTumi Holdings Inc.	—	−1,500,000	—	exited	−0.12 pp	—
ATRAGBXAtara Biotherapeutics Inc	—	−764,988	—	exited	−0.11 pp	—
PSXPPhillips 66 Partners LP	—	−412,340	—	exited	−0.09 pp	—
unresolvedWuxi Pharmatech Adr	—	−341,500	—	exited	−0.07 pp	—
EPAYBottomline Technologies Inc	—	−516,950	—	exited	−0.06 pp	—
unresolvedRyanair Holdings PLC ADR	—	−166,919	—	exited	−0.06 pp	—
NCMINational CineMedia, Inc.	—	−433,000	—	exited	−0.03 pp	—
unresolvedAbengoa Yield PLC	—	−426,384	—	exited	−0.03 pp	—
unresolvedSteiner Leisure Ltd	—	−97,529	—	exited	−0.03 pp	—
unresolvedBlue Buffalo Pet Prods Inc	—	−278,061	—	exited	−0.02 pp	—
SUNEQSunedison Inc	—	−512,164	—	exited	−0.02 pp	—
APCAnadarko Petroleum Corp	—	−19,039	—	exited	−0.01 pp	—
CTRACoterra Energy Inc.	—	−78,200	—	exited	−0.01 pp	—
ECLEcolab, Inc.	—	−22,251	—	exited	−0.01 pp	—
GPORGulfport Energy Corporation	—	−64,736	—	exited	−0.01 pp	—
XENTIntersect ENT, Inc	—	−55,000	—	exited	−0.01 pp	—
LPIVital Energy Inc	—	−118,700	—	exited	−0.01 pp	—
unresolvedSfx Entmt Inc	—	−2,500,000	—	exited	−0.01 pp	—
SMSM Energy Company	—	−62,548	—	exited	−0.01 pp	—
SEMGSemgroup Corp-class A	—	−36,100	—	exited	−0.01 pp	—
unresolvedSuperior Energy Services Inc	—	−91,257	—	exited	−0.01 pp	—
unresolvedWhole Foods Market	—	−40,715	—	exited	−0.01 pp	—
ARAntero Resources Corporation	—	−21,900	—	exited	0.00 pp	—
ATLSAtlas Energy Grp,llc Com Units Repstg Ltd (De)	—	−13,310	—	exited	0.00 pp	—
unresolvedBonanza Creek Energy Inc	—	−166,548	—	exited	0.00 pp	—
unresolved8POINT3 Energy Partners LP	—	−29,000	—	exited	0.00 pp	—
FETForum Energy Technologies, Inc.	—	−73,742	—	exited	0.00 pp	—
LTRPALiberty TripAdvisor Holdings, Inc. Series A	—	−25,975	—	exited	0.00 pp	—
37MMrc Global Inc	—	−45,400	—	exited	0.00 pp	—
MDSOMedidata Solutions, Inc.	—	−22,219	—	exited	0.00 pp	—
OASOasis Petroleum Inc	—	−107,538	—	exited	0.00 pp	—
RNETRigNet, Inc.	—	−20,690	—	exited	0.00 pp	—
unresolvedRose Rock Midstream L P	—	−9,242	—	exited	0.00 pp	—
SHOSunstone Hotel Investors, Inc.	—	−74,757	—	exited	0.00 pp	—
WDAYWorkday, Inc. Class A	—	−11,025	—	exited	0.00 pp	—
unresolvedHorizon Pharma PLC	—	−31,999	—	exited	0.00 pp	—
KRNTKornit Digital Ltd.	—	−6,500	—	exited	0.00 pp	—
SDLPSeadrill Partners LLC	—	−4,853	—	exited	0.00 pp	—