Baron Capital

Q3 2016 13F · by Ron Baron, CEO

As of: Sep 30, 2016
Filed: Nov 15, 2016
US stock: $18.9B · prev $18.8B
Positions: 308 · prev 301
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%

Moves277 since the prior filing

+3.4 pp in · −4.2 pp out

New 26 +1.72 pp
Added 68 +1.71 pp
Trimmed 164 −2.33 pp
Exited 19 −1.88 pp

The book

Diversified · behaves like 69 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 13% a year, about 7.7 years per position

Low
Moderate
High

Top 5 positions19% of US stock

MTN Vail Resorts, Inc. held held4.3%
IDXX Idexx Laboratories Inc trimmed+0.63 pp trimmed+0.633.9%
ACGL Arch Capital Group Ltd trimmed+0.32 pp trimmed+0.323.7%
IT Gartner, Inc. trimmed−0.40 pp trimmed−0.403.6%
CSGP CoStar Group Inc trimmed−0.05 pp trimmed−0.053.3%

Revealed late, restated

restated 2 rows corrected by the filer · US stock 0.00%; later quarters recomputed 13F-HR/A · Nov 15, 2016 ↗

Positions308 in this filing · 19 exited


MTNVail Resorts, Inc.	4.31%	5,176,522	$812M	held	—	14 q
IDXXIdexx Laboratories Inc	3.88%	6,500,206	$733M	trimmed−1%	+0.63 pp	14 q
ACGLArch Capital Group Ltd	3.69%	8,776,178	$696M	trimmed−0%	+0.32 pp	14 q
ITGartner, Inc.	3.62%	7,721,190	$683M	trimmed−0%	−0.40 pp	14 q
CSGPCoStar Group Inc	3.32%	2,888,884	$626M	trimmed−0%	−0.05 pp	14 q
FDSFactset Research Systems	2.91%	3,381,535	$548M	trimmed−1%	−0.01 pp	14 q
GLPIGaming and Leisure Properties, Inc.	2.53%	14,247,423	$477M	trimmed−3%	−0.15 pp	12 q
BFAMBright Horizons Family Solutions Inc.	1.80%	5,085,127	$340M	trimmed−0%	0.00 pp	14 q
MTDMettler-Toledo International	1.68%	756,156	$317M	trimmed−3%	+0.17 pp	14 q
TSLATesla, Inc.	1.68%	1,555,911	$317M	added+8%	+0.05 pp	11 q
GWREGuidewire Software, Inc.	1.61%	5,051,783	$303M	trimmed−0%	−0.05 pp	14 q
SSNCSS&C Technologies Inc	1.53%	8,963,140	$288M	trimmed−6%	+0.11 pp	14 q
UAAUnder Armour, Inc.	1.49%	7,247,152	$280M	added+2%	−0.02 pp	14 q
AKXAnsys Inc	1.48%	3,019,773	$280M	trimmed−1%	+0.01 pp	14 q
MANUManchester United PLC	1.34%	14,990,578	$253M	trimmed−1%	+0.06 pp	14 q
DEIDouglas Emmett, Inc.	1.31%	6,754,239	$247M	trimmed−2%	0.00 pp	14 q
MMSMAXIMUS, Inc.	1.31%	4,382,019	$248M	trimmed−0%	+0.02 pp	14 q
MIDDMiddleby Corp	1.26%	1,926,725	$238M	trimmed−26%	−0.34 pp	14 q
HHyatt Hotels Corporation	1.20%	4,591,312	$226M	trimmed−0%	0.00 pp	14 q
CHHChoice Hotels Intnl.	1.18%	4,920,319	$222M	trimmed−0%	−0.07 pp	14 q
MSCIMSCI, Inc.	1.13%	2,538,237	$213M	held	—	14 q
VRSKVerisk Analytics, Inc.	1.13%	2,624,151	$213M	trimmed−3%	−0.03 pp	14 q
SCHWThe Charles Schwab Corporation	1.12%	6,664,784	$210M	trimmed−1%	+0.21 pp	14 q
unresolvedSBA Comms Corp	1.05%	1,769,629	$198M	trimmed−0%	+0.03 pp	14 q
TDGTransDigm Group Incorporated	1.03%	675,000	$195M	held	—	14 q
INOVInovalon Holdings Inc - A	0.99%	12,690,489	$187M	trimmed−2%	−0.25 pp	7 q
TECHBio-Techne Corp.	0.95%	1,636,421	$179M	trimmed−0%	−0.03 pp	8 q
ILMNIllumina Inc	0.95%	984,065	$179M	trimmed−2%	+0.20 pp	14 q
FLTCorpay, Inc.	0.94%	1,025,446	$178M	trimmed−0%	+0.16 pp	14 q
PRIPrimerica, Inc.	0.93%	3,299,506	$175M	trimmed−8%	−0.16 pp	14 q
UAUnder Armour, Inc. Class C, $0.0003 1/3 par value	0.92%	5,138,944	$174M	added0%	−0.07 pp	2 q
BNFTBenefitfocus, Inc.	0.91%	4,296,881	$172M	trimmed−0%	+0.04 pp	12 q
WSTWest Pharmaceutical Services, Inc.	0.89%	2,258,479	$168M	trimmed−1%	−0.03 pp	14 q
VACMarriott Vacations Worldwide Corporation	0.86%	2,203,655	$162M	trimmed−0%	+0.05 pp	14 q
CHDChurch & Dwight Co., Inc.	0.82%	3,222,950	$154M	trimmed−12%	−0.18 pp	14 q
unresolvedNord Anglia Education Inc	0.80%	6,926,314	$151M	added0%	+0.02 pp	10 q
DKSDick's Sporting Goods, Inc.	0.79%	2,635,708	$149M	trimmed−0%	+0.16 pp	14 q
DOORMasonite International Corp	0.76%	2,295,315	$143M	trimmed−4%	−0.08 pp	10 q
unresolvedUltimate Software Group Inc	0.73%	673,548	$138M	held	—	14 q
CNSCohen & Steers Inc.	0.68%	2,995,940	$128M	held	—	14 q
unresolvedFinancial Engines	0.68%	4,298,745	$128M	trimmed−2%	+0.08 pp	14 q
AREAlexandria Real Estate Equities, Inc.	0.67%	1,155,546	$126M	trimmed−1%	+0.03 pp	14 q
CBRECbre Group, Inc.	0.67%	4,484,411	$125M	trimmed−19%	−0.11 pp	14 q
MORNMorningstar, Inc.	0.66%	1,561,284	$124M	held	—	14 q
BABAAlibaba Group Holding Limited	0.65%	1,154,110	$122M	added+41%	+0.30 pp	9 q
unresolvedPanera Bread Co	0.65%	627,086	$122M	held	—	14 q
AYIAcuity Inc.	0.63%	450,000	$119M	trimmed−10%	−0.03 pp	14 q
WCNWaste Connections, Inc.	0.63%	1,600,000	$120M	new	+0.63 pp	new
CSTECaesarstone Ltd.	0.63%	3,146,475	$119M	added+2%	+0.06 pp	14 q
EQIXEquinix, Inc.	0.62%	323,492	$117M	trimmed−5%	−0.08 pp	7 q
ZGZillow Group Inc Class A	0.62%	3,391,922	$117M	trimmed−5%	−0.07 pp	7 q
THSTreehouse Foods, Inc.	0.59%	1,283,971	$112M	trimmed−1%	−0.12 pp	14 q
PENNPENN Entertainment, Inc.	0.51%	7,155,983	$97M	trimmed−4%	−0.04 pp	14 q
ALXAlexander's Inc.	0.49%	222,382	$93M	trimmed−5%	−0.02 pp	14 q
RRRRed Rock Resorts, Inc. Class A	0.48%	3,877,258	$91M	added+8%	+0.06 pp	2 q
FASTFastenal Co	0.47%	2,127,316	$89M	trimmed−15%	−0.12 pp	14 q
OAKOaktree Capital Group, LLC	0.47%	2,080,922	$88M	added0%	−0.02 pp	14 q
TREXTrex Company, Inc.	0.47%	1,502,400	$88M	trimmed−20%	+0.02 pp	11 q
unresolvedThe Carlyle Group	0.46%	5,575,596	$87M	trimmed−3%	−0.03 pp	14 q
unresolvedOn Assignment Inc	0.46%	2,374,015	$86M	held	—	14 q
BAHBooz Allen Hamilton Holding Corporation	0.43%	2,565,489	$81M	trimmed−29%	−0.14 pp	14 q
AL1Sumisho Air Lease Corp	0.42%	2,804,960	$80M	trimmed−10%	−0.02 pp	14 q
DXCMDexCom, Inc.	0.40%	851,477	$75M	trimmed−6%	+0.02 pp	14 q
IRDMIridium Communications Inc.	0.40%	9,325,974	$76M	added+3%	−0.03 pp	10 q
WTWWillis Towers Watson Public Limited Company	0.40%	573,723	$76M	trimmed−10%	−0.02 pp	3 q
KMXCarMax Inc.	0.39%	1,390,980	$74M	trimmed−6%	0.00 pp	14 q
ICLRIcon Plc	0.38%	928,453	$72M	trimmed−0%	+0.03 pp	14 q
MGMMgm Resorts International	0.37%	2,664,876	$69M	trimmed−24%	−0.05 pp	7 q
CGNXCognex Corp	0.36%	1,300,000	$69M	held	—	14 q
MCMoelis & Company	0.36%	2,546,792	$68M	trimmed−11%	+0.02 pp	10 q
MHKMohawk Industries, Inc.	0.35%	329,247	$66M	trimmed−14%	−0.04 pp	14 q
AMZNAmazon.Com Inc	0.34%	75,849	$64M	trimmed−1%	+0.05 pp	14 q
unresolvedPriceline Grp Inc	0.34%	43,052	$63M	trimmed−6%	+0.03 pp	14 q
PRAHPRA Health Sciences, Inc.	0.33%	1,116,373	$63M	trimmed−0%	+0.08 pp	8 q
HSICHenry Schein Inc	0.33%	378,009	$62M	trimmed−0%	−0.03 pp	14 q
unresolvedSmart & Final Stores Inc	0.33%	4,857,225	$62M	trimmed−3%	−0.07 pp	7 q
EFIIElectronics for Imaging	0.32%	1,250,000	$61M	held	—	7 q
unresolvedPress Ganey Holdings Inc	0.32%	1,500,606	$61M	trimmed−42%	−0.22 pp	6 q
INXNInterxion Holding NV	0.32%	1,675,228	$61M	trimmed−12%	−0.05 pp	4 q
AZPNAspen Technology Inc	0.31%	1,251,600	$59M	held	—	5 q
SYNHSyneos Health, Inc. Class A	0.31%	1,300,000	$58M	trimmed−1%	+0.04 pp	8 q
unresolvedPinnacle Entmt Inc New	0.31%	4,726,409	$58M	new	+0.31 pp	new
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.29%	1,800,900	$55M	added+1%	+0.04 pp	14 q
AMTAmerican Tower Corporation	0.28%	459,555	$52M	trimmed−2%	0.00 pp	14 q
HQYHealthEquity, Inc	0.28%	1,396,507	$53M	trimmed−0%	+0.05 pp	9 q
MGPMGM Growth Properties LLC Class A representing limited liability company interests	0.28%	2,037,698	$53M	trimmed−14%	−0.06 pp	2 q
VRSNVeriSign Inc	0.28%	682,566	$53M	trimmed−0%	−0.03 pp	14 q
unresolvedAcxiom Corp	0.27%	1,906,583	$51M	trimmed−0%	+0.05 pp	14 q
CTRPTrip.com Group Limited	0.27%	1,090,182	$51M	added+17%	+0.07 pp	7 q
MICMacquarie Infrastructure Hol	0.27%	613,037	$51M	trimmed−12%	0.00 pp	3 q
CMDCantel Medical Corporation	0.26%	638,900	$50M	trimmed−67%	+0.02 pp	8 q
LFUSLittelfuse Inc	0.26%	379,530	$49M	added0%	+0.02 pp	3 q
WEXWEX Inc.	0.26%	450,000	$49M	trimmed−25%	−0.02 pp	14 q
BKDBrookdale Senior Living, Inc.	0.25%	2,730,835	$48M	trimmed−16%	−0.02 pp	14 q
CAKECheesecake Factory (The)	0.25%	950,000	$48M	held	—	14 q
unresolvedCooper Cos Inc/The	0.25%	264,731	$47M	trimmed−2%	0.00 pp	11 q
MKTXMarketAxess Holdings Inc.	0.25%	282,566	$47M	trimmed−4%	+0.02 pp	5 q
PEGAPegasystems Inc	0.25%	1,583,930	$47M	trimmed−30%	−0.07 pp	14 q
PFGCPerformance Food Group Company	0.25%	1,911,447	$47M	held	—	4 q
ROPRoper Technologies, Inc.	0.25%	253,718	$46M	trimmed−0%	+0.02 pp	14 q
NDSNNordson Corp	0.24%	450,000	$45M	held	—	14 q
NCLHNorwegian Cruise Line Holdings Ltd.	0.24%	1,222,787	$46M	trimmed−37%	−0.17 pp	14 q
CPACopa Holdings, S.A.	0.24%	512,000	$45M	added+60%	+0.15 pp	5 q
BERYBerry Global Group, Inc.	0.23%	1,000,000	$44M	trimmed−17%	−0.02 pp	14 q
IEXIDEX Corporation	0.23%	454,928	$43M	trimmed−0%	+0.03 pp	9 q
SUMSummit Materials, Inc. Class A	0.23%	2,350,000	$44M	held	—	7 q
WABWabtec Inc.	0.23%	534,104	$44M	trimmed−0%	+0.03 pp	13 q
NLSNNielsen Holdings PLC	0.23%	803,623	$43M	trimmed−0%	+0.01 pp	5 q
AATAmerican Assets Trust, Inc.	0.22%	940,000	$41M	added0%	+0.01 pp	14 q
unresolvedBrookfield Asset Mgmt Inc	0.22%	1,154,203	$41M	trimmed−6%	0.00 pp	14 q
FRCBFirst Republic Bk CA	0.22%	547,546	$42M	trimmed−0%	+0.02 pp	14 q
MSGSMadison Square Garden Sports Corp.	0.22%	250,000	$42M	held	—	4 q
RBCRBC Bearings Incorporated	0.22%	552,000	$42M	held	—	8 q
ACIWACI Worldwide, Inc.	0.21%	2,000,000	$39M	held	—	14 q
LSXMKLiberty Media Cor-siriusxm C	0.21%	1,200,000	$40M	held	—	2 q
PRTYParty City Holdco Inc.	0.21%	2,265,000	$39M	held	—	6 q
TALTAL Education Group	0.21%	570,438	$40M	trimmed−5%	+0.01 pp	11 q
BJRIBJ's Restaurants, Inc.	0.20%	1,050,000	$37M	held	—	14 q
RHIRobert Half Inc.	0.20%	1,016,792	$38M	added×7.0	+0.17 pp	14 q
unresolvedSpectranetics Corp	0.20%	1,528,500	$38M	trimmed−14%	+0.02 pp	12 q
unresolvedValero Energy Partners LP	0.20%	854,500	$37M	trimmed−0%	−0.01 pp	12 q
DPLODiplomat Pharmacy, Inc.	0.19%	1,282,664	$36M	trimmed−5%	−0.06 pp	8 q
unresolvedFlotek Industries Inc DEL	0.19%	2,419,252	$35M	added+12%	+0.04 pp	13 q
unresolvedVantiv Inc	0.19%	639,620	$36M	added+7%	+0.01 pp	3 q
unresolvedClubcorp Holdings Inc	0.18%	2,332,648	$34M	trimmed−1%	+0.02 pp	12 q
TOLToll Brothers, Inc.	0.18%	1,130,075	$34M	trimmed−8%	0.00 pp	14 q
NBISNebius Group N.V. Class A	0.18%	1,600,000	$34M	added+23%	+0.03 pp	3 q
unresolvedHilton Worldwide Hldgs Inc	0.17%	1,405,432	$32M	trimmed−33%	−0.08 pp	8 q
SPGSimon Property Group, Inc.	0.17%	151,023	$31M	trimmed−27%	−0.07 pp	14 q
UNVRUnivar Solutions Inc.	0.17%	1,500,000	$33M	new	+0.17 pp	new
FGAAmerican Campus Communities	0.16%	598,771	$30M	trimmed−21%	−0.05 pp	3 q
FMXFomento Economico Mexicano, S.a.b. De C.v.	0.16%	335,000	$31M	added+3%	0.00 pp	14 q
NFLXNetFlix Inc	0.16%	305,887	$30M	added×4.9	+0.13 pp	13 q
SITESiteOne Landscape Supply, Inc.	0.16%	854,129	$31M	added+16%	+0.03 pp	2 q
CXOConcho Resources Inc.	0.15%	211,773	$29M	trimmed−1%	+0.01 pp	14 q
HDHome Depot, Inc.	0.15%	219,172	$28M	trimmed−13%	−0.02 pp	12 q
KWKennedy-wilson Holdings, Inc.	0.15%	1,269,181	$29M	trimmed−35%	−0.05 pp	14 q
SQMSociedad Quimica y Minera de Chile SA	0.15%	1,035,000	$28M	added+16%	+0.03 pp	3 q
ZZillow Group, Inc. Class C	0.15%	814,554	$28M	trimmed−1%	−0.01 pp	5 q
VMCVulcan Materials Company(Holding Company)	0.14%	229,892	$26M	new	+0.14 pp	new
BATSBats Global Markets, Inc.	0.13%	800,291	$24M	trimmed−24%	−0.01 pp	2 q
EXPEExpedia Group, Inc.	0.13%	208,853	$24M	added×7.6	+0.11 pp	2 q
HCSGHealthcare Services Group	0.13%	600,000	$24M	held	—	6 q
LOWLowe's Companies Inc.	0.13%	330,273	$24M	trimmed−15%	−0.03 pp	14 q
NEOGNeogen Corp	0.13%	444,596	$25M	held	—	14 q
unresolvedQuintiles Transnatio Hldgs I	0.13%	300,810	$24M	trimmed−19%	0.00 pp	14 q
unresolvedMobileye Nv	0.13%	596,088	$25M	trimmed−40%	−0.11 pp	9 q
BIDUBaidu, Inc.	0.12%	123,179	$22M	added×81.2	+0.12 pp	14 q
MLMMartin Marietta Materials	0.12%	127,552	$23M	trimmed−18%	−0.04 pp	3 q
UHSUniversal Health Services, Inc. Class B	0.12%	189,684	$23M	trimmed−3%	−0.02 pp	14 q
WINGWingstop Inc	0.12%	761,000	$22M	trimmed−1%	+0.01 pp	6 q
YPFYPF Sociedad Anonima	0.12%	1,250,000	$23M	new	+0.12 pp	new
unresolvedDigitalglobe Inc	0.11%	772,200	$21M	added+1%	+0.02 pp	14 q
METAMeta Platforms, Inc. Class A	0.11%	161,884	$21M	trimmed−8%	0.00 pp	14 q
Iridium Communications Iconvertible	0.11%	66,300	$20M	held	—	7 q
JLLJones Lang LaSalle, Inc.	0.11%	177,166	$20M	trimmed−50%	−0.07 pp	14 q
LBRDKLiberty Broadband Corporation Class C	0.11%	300,000	$21M	held	—	8 q
FWONKLiberty Media Corporation Series C Liberty Formula One	0.11%	750,000	$21M	added×2.5	+0.08 pp	2 q
unresolvedManitowoc Foodservice Inc	0.11%	1,250,000	$20M	added+9%	0.00 pp	3 q
MNROMonro, Inc.	0.11%	350,000	$21M	held	—	8 q
TIFTiffany & Co.	0.11%	277,144	$20M	trimmed−19%	0.00 pp	14 q
TSCOTractor Supply Co	0.11%	298,635	$20M	trimmed−35%	−0.11 pp	14 q
GOOGAlphabet Inc. Class C	0.10%	25,002	$19M	trimmed−9%	0.00 pp	10 q
AUAngloGold Ashanti plc	0.10%	1,200,100	$19M	trimmed−11%	−0.03 pp	3 q
CHEFThe Chef's Warehouse Inc	0.10%	1,680,563	$19M	trimmed−16%	−0.07 pp	14 q
DLRDigital Realty Trust, Inc.	0.10%	195,746	$19M	trimmed−48%	−0.12 pp	3 q
MSGNMSG Networks Inc.	0.10%	1,000,000	$19M	held	—	4 q
TROWT Rowe Price Group Inc	0.10%	275,314	$18M	trimmed−25%	−0.04 pp	14 q
VIRTVirtu Financial, Inc. Class A	0.10%	1,304,577	$20M	trimmed−22%	−0.06 pp	6 q
unresolvedGeneral Growth Pptys Inc New	0.09%	625,610	$17M	trimmed−46%	−0.09 pp	8 q
PBFXPbf Logistics LP	0.09%	870,000	$17M	held	—	10 q
ROLRollins, Inc.	0.09%	567,156	$17M	new	+0.09 pp	new
SLGSL Green Realty Corp.	0.09%	150,000	$16M	held	—	14 q
TFXTeleflex Incorporated	0.09%	104,581	$18M	held	—	2 q
unresolvedTerraform Global Inc	0.09%	4,070,719	$17M	held	—	5 q
ESNTEssent Group LTD	0.09%	604,274	$16M	new	+0.09 pp	new
unresolvedScorpio Tankers Inc	0.09%	3,464,904	$16M	trimmed−7%	+0.01 pp	14 q
SCORcomScore, Inc.	0.08%	504,000	$15M	trimmed−1%	+0.02 pp	11 q
MRCYMercury Systems Inc.	0.08%	646,100	$16M	added+13%	0.00 pp	7 q
VVISA Inc.	0.08%	177,604	$15M	added+1%	+0.01 pp	14 q
GSMFerroglobe PLC	0.08%	1,750,000	$16M	trimmed−23%	−0.02 pp	4 q
BXPBXP, Inc.	0.07%	94,294	$13M	trimmed−15%	−0.01 pp	14 q
CDKCDK Global, Inc.	0.07%	240,551	$14M	trimmed−0%	0.00 pp	6 q
unresolvedJuno Therapeutics Inc	0.07%	443,107	$13M	added×4.4	+0.05 pp	2 q
MAMastercard Incorporated	0.07%	132,652	$14M	trimmed−2%	+0.01 pp	14 q
VNOVornado Realty Trust	0.07%	121,352	$12M	new	+0.07 pp	new
RCLRoyal Caribbean Group	0.07%	174,544	$13M	trimmed−47%	−0.05 pp	5 q
GOOGLAlphabet Inc. Class A	0.06%	13,314	$11M	trimmed−14%	0.00 pp	5 q
LBRDALiberty Broadband Corporation Class A	0.06%	150,000	$11M	held	—	8 q
WBCWabco Holdings Inc.	0.06%	99,792	$11M	trimmed−0%	+0.01 pp	7 q
unresolvedZoes Kitchen Inc	0.06%	507,000	$11M	added×202.8	+0.06 pp	10 q
unresolvedDominion Midstream Partners	0.05%	400,000	$10M	trimmed−8%	−0.02 pp	8 q
LM03Liberty Media Cor-siriusxm A	0.05%	300,000	$10M	held	—	2 q
RHTRed Hat Inc	0.05%	123,710	$10M	trimmed−7%	0.00 pp	14 q
WLKPWestlake Chemical Partners LP	0.05%	420,822	$10M	added+2%	+0.01 pp	9 q
AWIArmstrong World Industries, Inc.	0.04%	165,331	$7M	trimmed−2%	0.00 pp	2 q
unresolvedEncana Corp	0.04%	658,900	$7M	added+28%	+0.02 pp	3 q
HMHCHoughton Mifflin Harcourt Company	0.04%	500,000	$7M	trimmed−75%	−0.13 pp	6 q
PEParsley Energy Inc	0.04%	227,900	$8M	trimmed−6%	+0.01 pp	10 q
SSLSasol Limited	0.04%	300,500	$8M	added+20%	0.00 pp	7 q
NOWServicenow, Inc.	0.04%	99,803	$8M	trimmed−5%	0.00 pp	5 q
MLNXMellanox Technologies Ltd	0.04%	170,634	$7M	trimmed−3%	0.00 pp	13 q
ALXNAlexion Pharmaceuticals Inc	0.03%	44,260	$5M	trimmed−29%	−0.01 pp	11 q
AAPLApple Inc.	0.03%	53,478	$6M	trimmed−7%	0.00 pp	14 q
1885807DAthenahealth Inc	0.03%	41,360	$5M	trimmed−59%	−0.04 pp	11 q
FEYEFireEye, Inc.	0.03%	382,233	$6M	trimmed−38%	−0.02 pp	12 q
HABTThe Habit Restaurants, Inc. - Class A	0.03%	416,639	$6M	trimmed−59%	−0.06 pp	5 q
HSTMHealthStream Inc	0.03%	205,246	$6M	new	+0.03 pp	new
unresolvedNewfield Expl Co	0.03%	135,500	$6M	held	—	7 q
unresolvedRsp Permian Inc	0.03%	157,400	$6M	held	—	11 q
REXRRexford Industrial Realty, Inc.	0.03%	277,330	$6M	added×55.5	+0.03 pp	8 q
RICEEqt Re Merger Sub Inc	0.03%	200,500	$5M	trimmed−10%	0.00 pp	3 q
CRMSalesforce, Inc.	0.03%	82,333	$6M	added+6%	0.00 pp	14 q
SINASina Corp	0.03%	85,033	$6M	new	+0.03 pp	new
CMECME Group Inc.	0.02%	43,639	$5M	trimmed−1%	0.00 pp	14 q
GKOSGlaukos Corporation	0.02%	115,261	$4M	added×4.8	+0.02 pp	6 q
HALHalliburton Company	0.02%	81,396	$4M	held	—	14 q
MANHManhattan Associates Inc	0.02%	70,700	$4M	held	—	9 q
unresolvedMonsanto Co	0.02%	37,998	$4M	trimmed−1%	0.00 pp	14 q
ORLYO'Reilly Automotive, Inc.	0.02%	13,573	$4M	trimmed−8%	0.00 pp	14 q
QLYSQualys, Inc.	0.02%	81,500	$3M	added×2.0	+0.01 pp	11 q
RLRalph Lauren Corporation	0.02%	30,000	$3M	trimmed−7%	0.00 pp	14 q
SG7Sage Therapeutics Inc	0.02%	73,331	$3M	added+56%	+0.01 pp	6 q
SLBSLB Limited	0.02%	44,700	$4M	held	—	4 q
SBUXStarbucks Corp	0.02%	86,508	$5M	trimmed−18%	−0.01 pp	14 q
TRGPTarga Resources Corp.	0.02%	67,400	$3M	trimmed−7%	0.00 pp	3 q
TXMDTherapeuticsMD, Inc.	0.02%	461,264	$3M	added×2.1	+0.01 pp	11 q
YUMYum! Brands, Inc.	0.02%	47,235	$4M	trimmed−10%	0.00 pp	14 q
ACTAllergan PLC	0.02%	17,109	$4M	added+23%	0.00 pp	4 q
GLNGGolar LNG Ltd	0.02%	189,035	$4M	added+10%	+0.01 pp	14 q
ASMLASML Holding NV	0.02%	35,887	$4M	trimmed−1%	0.00 pp	13 q
AAgilent Technologies Inc.	0.01%	28,000	$1M	held	—	14 q
ALGNAlign Technology Inc	0.01%	26,640	$2M	held	—	14 q
AMBRAmber Road Inc	0.01%	126,000	$1M	added+1%	0.00 pp	10 q
APCAnadarko Petroleum Corp	0.01%	26,800	$2M	new	+0.01 pp	new
ARAntero Resources Corporation	0.01%	90,800	$2M	added+26%	0.00 pp	2 q
APAMArtisan Partners Asset Management Inc.	0.01%	49,956	$1M	trimmed−95%	−0.14 pp	14 q
ABXBarrick Mining Corporation	0.01%	60,400	$1M	trimmed−16%	0.00 pp	2 q
BIIBBiogen Inc.	0.01%	6,577	$2M	trimmed−66%	−0.02 pp	11 q
BMYBristol-Myers Squibb Co.	0.01%	47,479	$3M	trimmed−59%	−0.03 pp	3 q
DLChina Distance Education Holdings Limited	0.01%	90,000	$1M	new	+0.01 pp	new
EOGEOG Resources, Inc.	0.01%	24,568	$2M	held	—	13 q
unresolvedEducation Realty Trust, Inc.	0.01%	30,000	$1M	held	—	4 q
EWEdwards Lifesciences Corp	0.01%	10,762	$1M	trimmed−65%	−0.01 pp	14 q
unresolvedEnergen Corp	0.01%	29,766	$2M	added+8%	0.00 pp	2 q
ETEnergy Transfer LP	0.01%	155,000	$3M	trimmed−13%	0.00 pp	8 q
ENVEnvestnet, Inc.	0.01%	70,225	$3M	added+5%	0.00 pp	12 q
EPAMEpam Systems, Inc.	0.01%	32,962	$2M	trimmed−1%	0.00 pp	4 q
ESEESCO Technologies, Inc.	0.01%	20,500	$952,000	added+8%	+0.01 pp	5 q
unresolvedFmc Technologies Inc	0.01%	38,400	$1M	new	+0.01 pp	new
FETForum Energy Technologies, Inc.	0.01%	74,900	$1M	new	+0.01 pp	new
unresolvedFoundation Medicine	0.01%	103,367	$2M	added×4.1	+0.01 pp	12 q
GRFSGrifois, S.A.	0.01%	75,000	$1M	held	—	14 q
INGNInogen Inc	0.01%	16,000	$958,000	added+33%	+0.01 pp	11 q
unresolvedKeyw Holding Corp	0.01%	86,500	$955,000	added+2%	+0.01 pp	14 q
KRAKraton Corporation	0.01%	49,000	$2M	added+7%	0.00 pp	2 q
MPLXMplx LP	0.01%	46,500	$2M	held	—	4 q
MTSIMACOM Technology Solutions Holdings, Inc	0.01%	43,000	$2M	added+8%	0.00 pp	7 q
MPCMarathon Petroleum Corporation	0.01%	49,556	$2M	added+12%	0.00 pp	14 q
NEMNewmont Corporation	0.01%	26,400	$1M	held	—	2 q
NBLNoble Energy, Inc.	0.01%	31,449	$1M	trimmed−63%	−0.01 pp	14 q
REGNRegeneron Pharmaceuticals Inc	0.01%	4,924	$2M	trimmed−1%	0.00 pp	11 q
RYAAYRyanair Holdings plc	0.01%	20,575	$2M	trimmed−9%	0.00 pp	4 q
SEMGSemgroup Corp-class A	0.01%	55,400	$2M	held	—	2 q
SIENSientra, Inc.	0.01%	106,700	$959,000	added×2.1	+0.01 pp	3 q
SEDGSolarEdge Technologies, Inc.	0.01%	76,200	$1M	trimmed−29%	0.00 pp	3 q
SUSuncor Energy, Inc.	0.01%	35,000	$972,000	trimmed−19%	0.00 pp	13 q
TEGPTallgrass Energy GP, LP	0.01%	74,108	$2M	trimmed−71%	−0.02 pp	6 q
unresolvedTallgrass Energy Partners LP	0.01%	55,140	$3M	trimmed−16%	−0.01 pp	14 q
unresolvedTerraform Pwr Inc	0.01%	82,910	$1M	held	—	9 q
SLCAU.s. Silica Holdings, Inc.	0.01%	56,600	$3M	held	—	2 q
VLOValero Energy Corporation	0.01%	34,400	$2M	added+17%	0.00 pp	4 q
VRNSVaronis Systems, Inc.	0.01%	31,500	$948,000	added×2.1	+0.01 pp	11 q
CHKPCheck Point Software Technologies Ltd	0.01%	17,416	$1M	trimmed−41%	0.00 pp	14 q
CLBCore Laboratories Inc.	0.01%	18,450	$2M	trimmed−15%	0.00 pp	14 q
ADMSAdamas Pharmaceuticals, Inc.	0.00%	14,500	$238,000	new	0.00 pp	new
AERIAerie Pharmaceuticals, Inc.	0.00%	3,726	$141,000	trimmed−12%	0.00 pp	9 q
AEMAgnico Eagle Mines Ltd.	0.00%	15,000	$813,000	trimmed−29%	−0.01 pp	3 q
BRK.ABerkshire Hathaway Inc.	0.00%	1	$216,000	new	0.00 pp	new
unresolvedCepheid	0.00%	3,400	$179,000	trimmed−60%	0.00 pp	14 q
CERSCerus Corp	0.00%	103,500	$643,000	added+28%	0.00 pp	8 q
COHRCoherent Corp.	0.00%	7,700	$851,000	added+65%	0.00 pp	14 q
CYHCommunity Health Systems, Inc.	0.00%	100	$1,000	held	—	14 q
unresolvedEasterly Govt Pptys Inc	0.00%	33,000	$630,000	added+38%	0.00 pp	3 q
unresolvedFlexion Therapeutics Inc	0.00%	38,000	$743,000	added+41%	0.00 pp	2 q
GSGoldman Sachs Group Inc.	0.00%	800	$129,000	new	0.00 pp	new
PODDInsulet Corporation	0.00%	5,032	$206,000	new	0.00 pp	new
LM05Liberty Media Corp-liberty-a	0.00%	30,000	$859,000	trimmed−60%	−0.01 pp	2 q
MYGNMyriad Genetics Inc	0.00%	40,000	$823,000	new	0.00 pp	new
NEOSNeos Therapeutics, Inc	0.00%	61,500	$405,000	added×2.2	0.00 pp	5 q
NVRONNevro Corp	0.00%	6,800	$710,000	added+24%	0.00 pp	3 q
unresolvedNovadaq Technologies Inc	0.00%	71,000	$821,000	added+58%	0.00 pp	12 q
OISOil States International, Inc.	0.00%	24,531	$774,000	trimmed−50%	−0.01 pp	14 q
PCRXPacira BioSciences, Inc.	0.00%	21,921	$750,000	trimmed−61%	−0.01 pp	5 q
PGProcter & Gamble Company	0.00%	1,796	$161,000	new	0.00 pp	new
QADBQad Inc-b	0.00%	15,000	$292,000	added+36%	0.00 pp	2 q
QCOMQualcomm Inc	0.00%	4,000	$274,000	new	0.00 pp	new
unresolvedQuorum Health Corp	0.00%	25	$0	held	—	2 q
QUOTQuotient Technology Inc	0.00%	40,000	$532,000	added+25%	0.00 pp	5 q
SJMThe J.M. Smucker Company	0.00%	251	$34,000	new	0.00 pp	new
unresolvedSonic Corp	0.00%	21,500	$563,000	new	0.00 pp	new
SONYSony Group Corporation	0.00%	18,000	$598,000	new	0.00 pp	new
T8STesaro Inc	0.00%	2,500	$251,000	trimmed−32%	0.00 pp	3 q
WBWeibo Corporation	0.00%	8,503	$426,000	new	0.00 pp	new
unresolvedLuxoft Holding	0.00%	1,361	$72,000	added+56%	0.00 pp	2 q
NBRNabors Industries Ltd.	0.00%	67,600	$822,000	new	0.00 pp	new
GLOBGlobant S.a.	0.00%	3,786	$159,000	added×2.0	0.00 pp	2 q
KRNTKornit Digital Ltd.	0.00%	37,000	$347,000	added+95%	0.00 pp	3 q
unresolvedWaste Connections Inc	—	−2,150,000	—	exited	−0.82 pp	—
unresolvedPinnacle Entertainment Inc.	—	−4,739,823	—	exited	−0.28 pp	—
unresolvedMattress Firm Hldg Corp	—	−930,077	—	exited	−0.17 pp	—
unresolvedFEI Company	—	−250,000	—	exited	−0.14 pp	—
CHSPChesapeake Lodging Trust	—	−1,000,000	—	exited	−0.12 pp	—
unresolvedInterval Leisure Group Inc	—	−1,315,380	—	exited	−0.11 pp	—
unresolvedExamworks Group Inc	—	−400,000	—	exited	−0.07 pp	—
unresolvedQihoo 360 Technology Co. ADR	—	−175,000	—	exited	−0.07 pp	—
CTLTCatalent, Inc.	—	−365,000	—	exited	−0.04 pp	—
unresolvedWhiteWave Foods Co	—	−85,150	—	exited	−0.02 pp	—
BAPCredicorp LTD	—	−20,381	—	exited	−0.02 pp	—
HPHelmerich & Payne, Inc.	—	−18,646	—	exited	−0.01 pp	—
LINDLindblad Expeditions Holdings Inc.	—	−117,300	—	exited	−0.01 pp	—
ARAAmerican Renal Associates Holdings, Inc	—	−20,000	—	exited	0.00 pp	—
FRGIFiesta Restaurant Group, Inc.	—	−3,000	—	exited	0.00 pp	—
unresolvedIsle of Capri Casinos Inc.	—	−29,000	—	exited	0.00 pp	—
PRIMPrimoris Services Corporation	—	−6,507	—	exited	0.00 pp	—
TWTRTwitter, Inc.	—	−13,787	—	exited	0.00 pp	—
unresolvedWestern Gas Equity Partners	—	−21,376	—	exited	0.00 pp	—