Baron Capital

Q3 2017 13F · by Ron Baron, CEO

As of: Sep 30, 2017
Filed: Nov 14, 2017
US stock: $21.1B · prev $19.6B
Positions: 318 · prev 338
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%

Moves272 since the prior filing

+5.2 pp in · −4.6 pp out

New 13 +0.89 pp
Added 119 +4.36 pp
Trimmed 107 −3.52 pp
Exited 33 −1.10 pp

The book

Diversified · behaves like 64 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 10% a year, about 9.8 years per position

Low
Moderate
High

Top 5 positions21% of US stock

MTN Vail Resorts, Inc. added+0.25 pp added+0.255.6%
IT Gartner, Inc. added−0.28 pp added−0.284.2%
ACGL Arch Capital Group Ltd added−0.07 pp added−0.074.0%
CSGP CoStar Group Inc trimmed−0.25 pp trimmed−0.253.7%
IDXX Idexx Laboratories Inc held held3.5%

Positions318 in this filing · 33 exited


MTNVail Resorts, Inc.	5.57%	5,142,928	$1.2B	added0%	+0.25 pp	18 q
ITGartner, Inc.	4.17%	7,057,515	$878M	added0%	−0.28 pp	18 q
ACGLArch Capital Group Ltd	4.00%	8,551,480	$842M	added0%	−0.07 pp	18 q
CSGPCoStar Group Inc	3.67%	2,885,519	$774M	trimmed−1%	−0.25 pp	18 q
IDXXIdexx Laboratories Inc	3.49%	4,726,336	$735M	held	—	18 q
TSLATesla, Inc.	2.59%	1,602,011	$546M	trimmed−0%	−0.37 pp	15 q
FDSFactset Research Systems	2.57%	3,002,332	$541M	added0%	+0.03 pp	18 q
GWREGuidewire Software, Inc.	1.88%	5,082,409	$396M	added+3%	+0.15 pp	18 q
MTDMettler-Toledo International	1.83%	616,339	$386M	trimmed−0%	−0.02 pp	18 q
GLPIGaming and Leisure Properties, Inc.	1.82%	10,421,845	$384M	trimmed−1%	−0.21 pp	16 q
BFAMBright Horizons Family Solutions Inc.	1.65%	4,027,663	$347M	trimmed−0%	+0.06 pp	18 q
AKXAnsys Inc	1.52%	2,616,797	$321M	trimmed−0%	−0.11 pp	18 q
CHHChoice Hotels Intnl.	1.46%	4,814,406	$308M	held	—	18 q
BABAAlibaba Group Holding Limited	1.42%	1,727,945	$298M	added+25%	+0.43 pp	13 q
SSNCSS&C Technologies Inc	1.39%	7,282,648	$292M	trimmed−1%	−0.05 pp	18 q
SCHWThe Charles Schwab Corporation	1.39%	6,702,472	$293M	added+2%	−0.06 pp	18 q
HHyatt Hotels Corporation	1.31%	4,456,997	$275M	added0%	+0.04 pp	18 q
VACMarriott Vacations Worldwide Corporation	1.28%	2,162,214	$269M	added+1%	−0.01 pp	18 q
MSCIMSCI, Inc.	1.23%	2,211,124	$258M	held	—	18 q
MANUManchester United PLC	1.23%	14,369,283	$259M	trimmed−0%	+0.04 pp	18 q
DEIDouglas Emmett, Inc.	1.14%	6,100,987	$241M	trimmed0%	−0.05 pp	18 q
PRIPrimerica, Inc.	1.04%	2,676,215	$218M	trimmed−0%	0.00 pp	18 q
SBACSBA Communications Corp	0.97%	1,422,117	$205M	trimmed−1%	−0.02 pp	4 q
MMSMAXIMUS, Inc.	0.95%	3,107,011	$200M	trimmed−1%	−0.05 pp	18 q
TECHBio-Techne Corp.	0.87%	1,520,228	$184M	added+1%	−0.03 pp	12 q
WSTWest Pharmaceutical Services, Inc.	0.83%	1,806,150	$174M	added0%	−0.04 pp	18 q
BIDUBaidu, Inc.	0.80%	682,496	$169M	added+94%	+0.48 pp	18 q
RRRRed Rock Resorts, Inc. Class A	0.78%	7,095,981	$164M	added+28%	+0.11 pp	6 q
unresolvedFinancial Engines	0.76%	4,581,002	$159M	added+6%	−0.05 pp	18 q
MIDDMiddleby Corp	0.71%	1,171,945	$150M	trimmed−4%	−0.05 pp	18 q
BNFTBenefitfocus, Inc.	0.68%	4,245,435	$143M	trimmed−0%	−0.11 pp	16 q
WCNWaste Connections, Inc.	0.67%	2,025,000	$142M	held	—	5 q
unresolvedThe Carlyle Group	0.63%	5,665,005	$134M	added+3%	+0.07 pp	18 q
EQIXEquinix, Inc.	0.63%	296,461	$132M	added+1%	−0.02 pp	11 q
DOORMasonite International Corp	0.62%	1,896,561	$131M	added+4%	−0.09 pp	14 q
MORNMorningstar, Inc.	0.61%	1,504,371	$128M	held	—	18 q
PENNPENN Entertainment, Inc.	0.61%	5,521,824	$129M	added+1%	+0.01 pp	18 q
unresolved2U Inc	0.61%	2,311,371	$130M	added×4.3	+0.48 pp	2 q
UAAUnder Armour, Inc.	0.60%	7,704,996	$127M	added+11%	−0.17 pp	18 q
VRSKVerisk Analytics, Inc.	0.60%	1,515,983	$126M	trimmed−2%	−0.07 pp	18 q
TDGTransDigm Group Incorporated	0.58%	475,000	$121M	trimmed−5%	−0.11 pp	18 q
AREAlexandria Real Estate Equities, Inc.	0.57%	1,015,272	$121M	held	—	18 q
IRDMIridium Communications Inc.	0.57%	9,334,151	$120M	held	—	14 q
ZGZillow Group Inc Class A	0.54%	2,858,896	$115M	added0%	−0.17 pp	11 q
unresolvedPinnacle Entmt Inc New	0.53%	5,203,966	$111M	added+6%	+0.03 pp	5 q
CGNXCognex Corp	0.52%	1,000,000	$110M	held	—	18 q
TREXTrex Company, Inc.	0.51%	1,185,205	$107M	added+4%	+0.12 pp	15 q
WIXWIX.com Ltd.	0.51%	1,500,095	$108M	added+91%	+0.23 pp	4 q
CBRECbre Group, Inc.	0.50%	2,800,342	$106M	trimmed−1%	−0.02 pp	18 q
CNSCohen & Steers Inc.	0.50%	2,688,979	$106M	held	—	18 q
AYIAcuity Inc.	0.49%	602,501	$103M	trimmed−4%	−0.16 pp	18 q
unresolvedOn Assignment Inc	0.49%	1,910,100	$103M	added+6%	−0.01 pp	18 q
AL1Sumisho Air Lease Corp	0.48%	2,369,082	$101M	added+3%	+0.04 pp	18 q
SITESiteOne Landscape Supply, Inc.	0.47%	1,720,722	$100M	added+11%	+0.06 pp	6 q
SUMSummit Materials, Inc. Class A	0.47%	3,064,202	$98M	added+9%	+0.05 pp	11 q
unresolvedUltimate Software Group Inc	0.47%	520,740	$99M	added+33%	+0.05 pp	18 q
CWHCamping World Holdings, Inc.	0.45%	2,335,600	$95M	added+10%	+0.11 pp	4 q
FLTCorpay, Inc.	0.45%	617,727	$96M	held	—	18 q
CHDChurch & Dwight Co., Inc.	0.44%	1,892,900	$92M	trimmed−7%	−0.10 pp	18 q
OAKOaktree Capital Group, LLC	0.44%	1,953,605	$92M	held	—	18 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.44%	2,482,896	$93M	added+17%	+0.06 pp	18 q
ALXAlexander's Inc.	0.43%	211,962	$90M	added0%	−0.03 pp	18 q
ICLRIcon Plc	0.43%	804,200	$92M	held	—	18 q
ILMNIllumina Inc	0.42%	444,335	$89M	trimmed−1%	+0.02 pp	18 q
TALTAL Education Group	0.42%	2,649,724	$89M	trimmed−16%	+0.09 pp	15 q
CISNCision Ltd	0.41%	6,706,786	$87M	added+67%	+0.20 pp	2 q
YPFYPF Sociedad Anonima	0.40%	3,738,080	$83M	added+39%	+0.10 pp	5 q
MCMoelis & Company	0.39%	1,895,730	$82M	held	—	14 q
AMZNAmazon.Com Inc	0.38%	82,451	$79M	trimmed−1%	−0.03 pp	18 q
JBTMJBT Marel Corporation	0.37%	773,300	$78M	added+93%	+0.17 pp	3 q
WTWWillis Towers Watson Public Limited Company	0.37%	510,581	$79M	trimmed−0%	−0.01 pp	7 q
CTRPTrip.com Group Limited	0.36%	1,431,200	$75M	added+27%	+0.05 pp	11 q
unresolvedPriceline Grp Inc	0.36%	41,845	$77M	trimmed−0%	−0.04 pp	18 q
NBISNebius Group N.V. Class A	0.36%	2,321,585	$76M	added+21%	+0.10 pp	7 q
VRSNVeriSign Inc	0.35%	683,869	$73M	held	—	18 q
GTTGTT Communications, Inc.	0.34%	2,278,200	$72M	added+69%	+0.12 pp	2 q
GKOSGlaukos Corporation	0.34%	2,194,059	$72M	added×2.0	+0.11 pp	10 q
PRAHPRA Health Sciences, Inc.	0.34%	954,364	$73M	held	—	12 q
UNVRUnivar Solutions Inc.	0.34%	2,500,000	$72M	added+37%	+0.07 pp	5 q
CPACopa Holdings, S.A.	0.34%	569,642	$71M	added+11%	+0.03 pp	9 q
unresolvedAcxiom Corp	0.33%	2,863,312	$71M	added+28%	+0.03 pp	18 q
LEXEALiberty Expedia Holdings, Inc. Class A	0.33%	1,300,000	$69M	added+38%	+0.07 pp	4 q
LFUSLittelfuse Inc	0.33%	350,370	$69M	held	—	7 q
PEGAPegasystems Inc	0.33%	1,198,827	$69M	held	—	18 q
2663134DBitauto Holdings Ltd-adr	0.32%	1,494,080	$67M	added+17%	+0.13 pp	3 q
INXNInterxion Holding NV	0.31%	1,287,178	$66M	trimmed−1%	0.00 pp	8 q
AMTAmerican Tower Corporation	0.30%	463,334	$63M	added0%	−0.01 pp	18 q
MRCYMercury Systems Inc.	0.30%	1,226,000	$64M	added+9%	+0.06 pp	11 q
BECNBeacon Roofing Supply, Inc.	0.29%	1,209,400	$62M	new	+0.29 pp	new
unresolvedCooper Cos Inc/The	0.29%	254,341	$60M	added0%	−0.02 pp	15 q
EXPEExpedia Group, Inc.	0.29%	429,766	$62M	added+4%	−0.02 pp	6 q
FASTFastenal Co	0.29%	1,348,221	$61M	added+28%	+0.06 pp	18 q
HQYHealthEquity, Inc	0.29%	1,203,771	$61M	held	—	13 q
MHKMohawk Industries, Inc.	0.29%	242,927	$60M	held	—	18 q
ROPRoper Technologies, Inc.	0.29%	254,148	$62M	held	—	18 q
THSTreehouse Foods, Inc.	0.28%	881,956	$60M	trimmed−6%	−0.11 pp	18 q
BMABanco Macro S.A.	0.27%	486,423	$57M	added+26%	+0.09 pp	2 q
FRCBFirst Republic Bk CA	0.27%	554,472	$58M	trimmed−0%	−0.01 pp	18 q
KNSLKinsale Capital Group, Inc.	0.27%	1,340,484	$58M	added+15%	+0.05 pp	4 q
UAUnder Armour, Inc. Class C, $0.0003 1/3 par value	0.27%	3,721,369	$56M	trimmed−19%	−0.20 pp	6 q
unresolvedVantiv Inc	0.27%	821,784	$58M	added+4%	+0.02 pp	7 q
AZPNAspen Technology Inc	0.26%	885,900	$56M	held	—	9 q
IEXIDEX Corporation	0.26%	455,708	$55M	held	—	13 q
HSICHenry Schein Inc	0.26%	665,430	$55M	trimmed−8%	−0.08 pp	18 q
NCLHNorwegian Cruise Line Holdings Ltd.	0.26%	996,546	$54M	trimmed−0%	−0.02 pp	18 q
BSACBanco Santander-Chile	0.25%	1,755,590	$52M	added+19%	+0.06 pp	4 q
MSGSMadison Square Garden Sports Corp.	0.25%	250,000	$54M	held	—	8 q
TTDThe Trade Desk, Inc.	0.25%	860,083	$53M	added+45%	+0.10 pp	4 q
EFIIElectronics for Imaging	0.24%	1,200,000	$51M	trimmed−4%	−0.06 pp	11 q
WEXWEX Inc.	0.24%	450,000	$50M	held	—	18 q
CMDCantel Medical Corporation	0.23%	515,000	$48M	added+3%	+0.03 pp	12 q
MKTXMarketAxess Holdings Inc.	0.23%	264,400	$49M	trimmed−2%	−0.05 pp	9 q
SQMSociedad Quimica y Minera de Chile SA	0.23%	866,086	$48M	trimmed−15%	+0.06 pp	7 q
TDOCTeladoc Health, Inc.	0.23%	1,455,900	$48M	added×8.5	+0.20 pp	3 q
BERYBerry Global Group, Inc.	0.22%	800,000	$45M	held	—	18 q
HDHome Depot, Inc.	0.22%	284,791	$47M	trimmed−2%	−0.01 pp	16 q
LSXMKLiberty Media Cor-siriusxm C	0.22%	1,100,000	$46M	held	—	6 q
PFGCPerformance Food Group Company	0.22%	1,648,650	$47M	held	—	8 q
INOVInovalon Holdings Inc - A	0.21%	2,548,423	$43M	trimmed−26%	−0.02 pp	11 q
FMXFomento Economico Mexicano, S.a.b. De C.v.	0.20%	442,932	$42M	added+12%	0.00 pp	18 q
MTSIMACOM Technology Solutions Holdings, Inc	0.20%	940,121	$42M	added×6.3	+0.16 pp	11 q
QLYSQualys, Inc.	0.20%	831,600	$43M	added+9%	+0.04 pp	15 q
BYDBoyd Gaming Corporation	0.19%	1,528,617	$40M	added+10%	+0.01 pp	3 q
RBCRBC Bearings Incorporated	0.19%	325,000	$41M	held	—	12 q
TRUTransUnion	0.19%	864,169	$41M	added+35%	+0.05 pp	2 q
CAKECheesecake Factory (The)	0.18%	925,000	$39M	added+42%	+0.01 pp	18 q
MFSWelbilt Inc	0.18%	1,600,000	$37M	added+14%	+0.05 pp	3 q
SFLYShutterfly, Inc.	0.17%	750,000	$36M	new	+0.17 pp	new
VMCVulcan Materials Company(Holding Company)	0.17%	303,818	$36M	added+15%	0.00 pp	5 q
KMXCarMax Inc.	0.16%	449,883	$34M	trimmed−2%	+0.01 pp	18 q
GCPNGcp Applied Technologies	0.16%	1,100,000	$34M	new	+0.16 pp	new
NEOGNeogen Corp	0.16%	444,596	$34M	held	—	18 q
PRTYParty City Holdco Inc.	0.16%	2,565,000	$35M	added+5%	−0.03 pp	10 q
TFXTeleflex Incorporated	0.16%	137,140	$33M	added+17%	+0.04 pp	6 q
unresolvedValero Energy Partners LP	0.16%	773,100	$34M	trimmed−1%	−0.02 pp	16 q
WINGWingstop Inc	0.16%	1,010,000	$34M	added+5%	+0.01 pp	10 q
TROWT Rowe Price Group Inc	0.15%	356,756	$32M	added+29%	+0.05 pp	18 q
AOSA.O. Smith Corporation	0.15%	528,694	$31M	added+36%	+0.04 pp	4 q
unresolvedBrookfield Asset Mgmt Inc	0.14%	720,869	$30M	trimmed−1%	−0.01 pp	18 q
CHEFThe Chef's Warehouse Inc	0.14%	1,500,000	$29M	held	—	18 q
LBRDKLiberty Broadband Corporation Class C	0.14%	300,000	$29M	held	—	12 q
FWONKLiberty Media Corporation Series C Liberty Formula One	0.14%	750,000	$29M	held	—	6 q
MGMMgm Resorts International	0.14%	916,603	$30M	trimmed−10%	−0.02 pp	11 q
MGPMGM Growth Properties LLC Class A representing limited liability company interests	0.14%	946,532	$29M	trimmed−2%	0.00 pp	6 q
NDSNNordson Corp	0.14%	250,000	$30M	held	—	18 q
REVGREV Group, Inc.	0.14%	1,050,000	$30M	added+40%	+0.03 pp	3 q
ROLRollins, Inc.	0.14%	641,531	$30M	added+2%	+0.01 pp	5 q
WYNTravel + Leisure Co.	0.14%	270,709	$29M	trimmed−8%	−0.01 pp	3 q
ZZillow Group, Inc. Class C	0.14%	742,287	$30M	added0%	−0.05 pp	9 q
ESNTEssent Group LTD	0.14%	754,174	$31M	added+26%	+0.03 pp	5 q
BWXTBWX Technologies, Inc.	0.13%	480,359	$27M	added+9%	+0.02 pp	3 q
DKSDick's Sporting Goods, Inc.	0.13%	1,051,013	$28M	trimmed−0%	−0.08 pp	18 q
FNDFloor & Decor Holdings, Inc.	0.13%	704,022	$27M	added×6.2	+0.11 pp	2 q
HLTHilton Worldwide Holdings Inc.	0.13%	405,922	$28M	trimmed−4%	0.00 pp	4 q
SHWThe Sherwin-Williams Company	0.13%	77,467	$28M	trimmed−3%	−0.01 pp	4 q
TTCToro Company (The)	0.13%	446,153	$28M	new	+0.13 pp	new
GOOGAlphabet Inc. Class C	0.12%	26,172	$25M	added0%	0.00 pp	14 q
CDWCDW Corporation	0.12%	369,271	$24M	added+9%	+0.01 pp	2 q
unresolvedEmerald Expositions Events Inc	0.12%	1,075,000	$25M	added+8%	+0.01 pp	2 q
SYNHSyneos Health, Inc. Class A	0.12%	500,000	$26M	held	—	12 q
TIFTiffany & Co.	0.12%	266,887	$24M	held	—	18 q
CSTECaesarstone Ltd.	0.12%	849,205	$25M	trimmed−36%	−0.12 pp	18 q
ACIWACI Worldwide, Inc.	0.11%	1,000,000	$23M	held	—	18 q
AATAmerican Assets Trust, Inc.	0.11%	592,000	$24M	held	—	18 q
unresolvedDominion Midstream Partners	0.11%	745,000	$24M	added+67%	+0.04 pp	12 q
METAMeta Platforms, Inc. Class A	0.11%	130,207	$22M	trimmed−0%	+0.01 pp	18 q
MLMMartin Marietta Materials	0.11%	109,288	$23M	held	—	7 q
WABWabtec Inc.	0.11%	319,198	$24M	trimmed−40%	−0.14 pp	17 q
ALGNAlign Technology Inc	0.10%	116,493	$22M	added+9%	+0.02 pp	18 q
CBOECboe Global Markets, Inc.	0.10%	203,981	$22M	held	—	3 q
HGVHilton Grand Vacations Inc.	0.10%	558,758	$22M	added+6%	0.00 pp	3 q
MICMacquarie Infrastructure Hol	0.10%	304,722	$22M	added0%	−0.02 pp	7 q
MARMarriott International Class A	0.09%	181,277	$20M	trimmed−4%	−0.01 pp	4 q
MASMasco Corporation	0.09%	504,187	$20M	trimmed−18%	−0.03 pp	4 q
MAMastercard Incorporated	0.09%	127,915	$18M	trimmed−3%	+0.01 pp	18 q
VVISA Inc.	0.09%	178,073	$19M	trimmed−7%	0.00 pp	18 q
YEXTYext, Inc.	0.09%	1,481,349	$20M	added+18%	0.00 pp	2 q
CXOConcho Resources Inc.	0.08%	134,837	$18M	trimmed−33%	−0.04 pp	18 q
MSGNMSG Networks Inc.	0.08%	750,000	$16M	trimmed−33%	−0.05 pp	8 q
PBFXPbf Logistics LP	0.08%	800,000	$17M	held	—	14 q
PLDPrologis, Inc.	0.08%	261,997	$17M	trimmed−5%	0.00 pp	4 q
SLGSL Green Realty Corp.	0.08%	160,166	$16M	added+60%	+0.03 pp	18 q
NLSNNielsen Holdings PLC	0.08%	386,960	$16M	trimmed−51%	−0.07 pp	9 q
BJRIBJ's Restaurants, Inc.	0.07%	500,000	$15M	held	—	18 q
DXCMDexCom, Inc.	0.07%	301,000	$15M	trimmed−56%	−0.18 pp	18 q
VMRKVivmark Residential	0.07%	227,335	$15M	trimmed−2%	−0.01 pp	3 q
INVHInvitation Homes Inc.	0.07%	649,397	$15M	trimmed−9%	−0.01 pp	3 q
WBCWabco Holdings Inc.	0.07%	103,492	$15M	added+5%	+0.01 pp	11 q
AMHAmerican Homes 4 Rent	0.06%	606,651	$13M	trimmed−10%	−0.02 pp	2 q
REXRRexford Industrial Realty, Inc.	0.06%	442,040	$13M	trimmed−6%	−0.01 pp	12 q
SSLSasol Limited	0.06%	457,743	$13M	added+11%	0.00 pp	11 q
unresolvedTerraform Global Inc	0.06%	2,444,797	$12M	added+8%	0.00 pp	9 q
TOLToll Brothers, Inc.	0.06%	313,921	$13M	trimmed−4%	−0.01 pp	18 q
UHSUniversal Health Services, Inc. Class B	0.06%	112,785	$13M	trimmed−25%	−0.03 pp	18 q
RCLRoyal Caribbean Group	0.06%	109,444	$13M	trimmed−19%	−0.02 pp	9 q
STAYExtended Stay America, Inc. Paired Share	0.05%	566,000	$11M	held	—	2 q
unresolvedFlotek Industries Inc DEL	0.05%	2,438,739	$11M	trimmed−20%	−0.09 pp	17 q
unresolvedHudson Pac Pptys Inc	0.05%	312,072	$10M	held	—	3 q
ISRGIntuitive Surgical Inc.	0.05%	9,682	$10M	trimmed−6%	0.00 pp	4 q
DLRDigital Realty Trust, Inc.	0.04%	69,726	$8M	trimmed−33%	−0.02 pp	2 q
unresolvedGeneral Communications Inc	0.04%	185,000	$8M	added+6%	+0.01 pp	2 q
HCSGHealthcare Services Group	0.04%	175,000	$9M	held	—	10 q
LBRDALiberty Broadband Corporation Class A	0.04%	100,000	$9M	held	—	12 q
MYGNMyriad Genetics Inc	0.04%	215,500	$8M	held	—	5 q
NOVTNovanta Inc.	0.04%	185,900	$8M	added+15%	+0.01 pp	2 q
QTSQts Realty Trust, Inc.	0.04%	180,518	$9M	trimmed−23%	−0.02 pp	2 q
RHTRed Hat Inc	0.04%	84,277	$9M	trimmed−4%	0.00 pp	18 q
NOWServicenow, Inc.	0.04%	65,585	$8M	trimmed−5%	0.00 pp	9 q
SIENSientra, Inc.	0.04%	501,500	$8M	added+6%	+0.02 pp	7 q
VRNSVaronis Systems, Inc.	0.04%	189,746	$8M	trimmed−15%	0.00 pp	15 q
WLKPWestlake Chemical Partners LP	0.04%	350,000	$8M	held	—	13 q
ALEXAlexander & Baldwin, Inc.	0.03%	145,000	$7M	new	+0.03 pp	new
AAPLApple Inc.	0.03%	45,877	$7M	trimmed−6%	−0.01 pp	18 q
CMECME Group Inc.	0.03%	42,679	$6M	trimmed−3%	0.00 pp	18 q
ENVEnvestnet, Inc.	0.03%	133,925	$7M	held	—	16 q
NFLXNetFlix Inc	0.03%	33,363	$6M	trimmed−20%	0.00 pp	17 q
OLLIOllie's Bargain Outlet Holdings, Inc.	0.03%	147,568	$7M	new	+0.03 pp	new
RHIRobert Half Inc.	0.03%	110,884	$6M	trimmed−85%	−0.15 pp	18 q
SG7Sage Therapeutics Inc	0.03%	93,458	$6M	added+14%	0.00 pp	10 q
unresolvedTpi Composites Inc	0.03%	313,100	$7M	held	—	4 q
MLNXMellanox Technologies Ltd	0.03%	125,480	$6M	trimmed−6%	0.00 pp	17 q
ASMLASML Holding NV	0.03%	33,472	$6M	trimmed−3%	+0.01 pp	17 q
unresolvedScorpio Tankers Inc	0.03%	2,000,000	$7M	trimmed−20%	−0.02 pp	18 q
GOOGLAlphabet Inc. Class A	0.02%	3,863	$4M	trimmed−0%	0.00 pp	9 q
FGAAmerican Campus Communities	0.02%	102,312	$5M	trimmed−52%	−0.03 pp	7 q
AXGNAxogen, Inc.	0.02%	177,935	$3M	new	+0.02 pp	new
BIIBBiogen Inc.	0.02%	12,951	$4M	added0%	0.00 pp	15 q
BOBEBob Evans Farms, Inc.	0.02%	62,000	$5M	added+9%	0.00 pp	2 q
BXPBXP, Inc.	0.02%	41,815	$5M	new	+0.02 pp	new
COHRCoherent Corp.	0.02%	16,300	$4M	added×2.7	+0.01 pp	18 q
unresolvedCommerceHub, Inc., Series C	0.02%	195,500	$4M	held	—	3 q
EWEdwards Lifesciences Corp	0.02%	37,386	$4M	added0%	0.00 pp	18 q
EAElectronic Arts Inc	0.02%	27,075	$3M	added+1%	+0.01 pp	3 q
unresolvedEncana Corp	0.02%	379,589	$4M	trimmed−13%	0.00 pp	7 q
EPAMEpam Systems, Inc.	0.02%	53,836	$5M	added+28%	0.00 pp	8 q
MRAMEverspin Technologies, Inc	0.02%	243,825	$4M	added+20%	0.00 pp	4 q
unresolvedFlexion Therapeutics Inc	0.02%	209,500	$5M	held	—	6 q
unresolvedFoundation Medicine	0.02%	90,900	$4M	held	—	16 q
PIImpinj, Inc.	0.02%	80,000	$3M	added+60%	+0.01 pp	4 q
unresolvedKeyw Holding Corp	0.02%	649,400	$5M	added+39%	0.00 pp	18 q
LM05Liberty Media Corp-liberty-a	0.02%	88,000	$3M	added+21%	+0.01 pp	6 q
PKPark Hotels & Resorts Inc.	0.02%	152,588	$4M	trimmed−21%	−0.01 pp	3 q
PEParsley Energy Inc	0.02%	145,900	$4M	trimmed−15%	0.00 pp	14 q
QUOTQuotient Technology Inc	0.02%	215,000	$3M	added+8%	+0.01 pp	9 q
unresolvedRsp Permian Inc	0.02%	113,800	$4M	trimmed−15%	0.00 pp	15 q
CRMSalesforce, Inc.	0.02%	47,206	$4M	trimmed−11%	0.00 pp	18 q
SPLKSplunk Inc	0.02%	54,844	$4M	added+6%	0.00 pp	4 q
SUPNSupernus Pharmaceuticals, Inc.	0.02%	89,621	$4M	added×2.0	+0.01 pp	2 q
TXMDTherapeuticsMD, Inc.	0.02%	920,000	$5M	added+8%	0.00 pp	15 q
TRUETrueCar, Inc.	0.02%	220,000	$3M	added+63%	+0.01 pp	4 q
VRTXVertex Pharmaceuticals Inc	0.02%	29,783	$5M	new	+0.02 pp	new
ICHRIchor Holdings	0.02%	187,000	$5M	added+67%	+0.01 pp	4 q
GLNGGolar LNG Ltd	0.02%	175,835	$4M	trimmed−6%	0.00 pp	18 q
XLRNAcceleron Pharma Inc.	0.01%	45,180	$2M	added0%	0.00 pp	2 q
ADMSAdamas Pharmaceuticals, Inc.	0.01%	103,200	$2M	held	—	5 q
AAgilent Technologies Inc.	0.01%	28,000	$2M	held	—	18 q
AMBRAmber Road Inc	0.01%	194,200	$1M	held	—	14 q
unresolvedAndeavor	0.01%	21,500	$2M	held	—	2 q
CERSCerus Corp	0.01%	560,900	$2M	held	—	12 q
CLDRCloudera, Inc.	0.01%	66,679	$1M	trimmed−34%	0.00 pp	2 q
CLVSNClovis Oncology Inc	0.01%	29,147	$2M	added+94%	0.00 pp	2 q
EOGEOG Resources, Inc.	0.01%	15,768	$2M	trimmed−24%	0.00 pp	17 q
ETEnergy Transfer LP	0.01%	104,100	$2M	trimmed−15%	0.00 pp	12 q
ESEESCO Technologies, Inc.	0.01%	52,300	$3M	added×2.1	0.00 pp	9 q
unresolvedGemphire Therapeutics Inc	0.01%	286,961	$3M	new	+0.01 pp	new
HALHalliburton Company	0.01%	51,596	$2M	trimmed−23%	0.00 pp	18 q
INCYIncyte Genomics Inc	0.01%	10,630	$1M	added0%	0.00 pp	2 q
INGNInogen Inc	0.01%	23,000	$2M	held	—	15 q
MANHManhattan Associates Inc	0.01%	57,757	$2M	held	—	13 q
MUFGMitsubishi UFJ Financial Group, Inc.	0.01%	227,000	$1M	added+57%	0.00 pp	2 q
unresolvedMonsanto Co	0.01%	21,875	$3M	trimmed−36%	−0.01 pp	18 q
NCSMNCS Multistage Holdings, Inc.	0.01%	54,800	$1M	held	—	2 q
NVRONNevro Corp	0.01%	21,300	$2M	held	—	7 q
unresolvedNewfield Expl Co	0.01%	49,400	$1M	trimmed−50%	0.00 pp	11 q
NBLXNoble Midstream Partners LP	0.01%	39,238	$2M	held	—	4 q
OKTAOkta, Inc. Class A	0.01%	40,076	$1M	held	—	2 q
PDFSPDF Solutions Inc	0.01%	165,500	$3M	new	+0.01 pp	new
PFPTProofpoint, Inc.	0.01%	32,972	$3M	trimmed−5%	−0.01 pp	3 q
QADAQad Inc-a	0.01%	50,000	$2M	held	—	3 q
REGNRegeneron Pharmaceuticals Inc	0.01%	6,673	$3M	trimmed−5%	−0.01 pp	15 q
RICEEqt Re Merger Sub Inc	0.01%	62,800	$2M	trimmed−27%	0.00 pp	7 q
RYAAYRyanair Holdings plc	0.01%	20,075	$2M	added+25%	0.00 pp	8 q
unresolvedSanchez Prodtn Partner	0.01%	110,200	$1M	trimmed−12%	0.00 pp	4 q
unresolvedSmart & Final Stores Inc	0.01%	358,101	$3M	trimmed−87%	−0.12 pp	11 q
SONYSony Group Corporation	0.01%	57,000	$2M	held	—	5 q
unresolvedSun Hydraulics Corp	0.01%	46,000	$2M	held	—	2 q
SYFSynchrony Financial	0.01%	76,905	$2M	held	—	4 q
TRGPTarga Resources Corp.	0.01%	37,700	$2M	trimmed−10%	0.00 pp	7 q
T8STesaro Inc	0.01%	13,128	$2M	added+31%	0.00 pp	2 q
VEEVVeeva Systems Inc.	0.01%	48,882	$3M	added+23%	0.00 pp	2 q
NBRNabors Industries Ltd.	0.01%	28,058	$1M	trimmed−69%	+0.01 pp	5 q
CHKPCheck Point Software Technologies Ltd	0.01%	9,448	$1M	trimmed−49%	0.00 pp	18 q
KRNTKornit Digital Ltd.	0.01%	170,000	$3M	held	—	7 q
AERIAerie Pharmaceuticals, Inc.	0.00%	6,156	$299,000	added+12%	0.00 pp	13 q
APAMArtisan Partners Asset Management Inc.	0.00%	15,874	$517,000	held	—	18 q
BRK.ABerkshire Hathaway Inc.	0.00%	1	$275,000	held	—	5 q
CYHCommunity Health Systems, Inc.	0.00%	100	$1,000	held	—	18 q
GSGoldman Sachs Group Inc.	0.00%	800	$190,000	held	—	5 q
HDBHDFC Bank Limited	0.00%	4,883	$471,000	added+14%	0.00 pp	3 q
JDJD.com, Inc.	0.00%	15,140	$578,000	trimmed−8%	0.00 pp	3 q
unresolvedJones Energy Inc	0.00%	51,011	$98,000	trimmed−92%	−0.01 pp	4 q
MPLXMplx LP	0.00%	24,900	$872,000	trimmed−20%	−0.01 pp	8 q
MDXGMiMedx Group, Inc	0.00%	64,800	$770,000	new	0.00 pp	new
PGProcter & Gamble Company	0.00%	1,796	$163,000	held	—	5 q
QADBQad Inc-b	0.00%	32,000	$876,000	held	—	6 q
QCOMQualcomm Inc	0.00%	4,000	$207,000	held	—	5 q
RDFNRedfin Corporation	0.00%	30,000	$753,000	new	0.00 pp	new
SJMThe J.M. Smucker Company	0.00%	251	$26,000	held	—	5 q
SNAPSnap Inc.	0.00%	58,217	$846,000	trimmed−12%	−0.01 pp	3 q
SFMSprouts Farmers Market, Inc.	0.00%	30,000	$563,000	held	—	2 q
SUSuncor Energy, Inc.	0.00%	29,000	$1M	trimmed−9%	0.00 pp	17 q
TTWOTake-Two Interactive Software Inc	0.00%	5,985	$612,000	added+49%	0.00 pp	2 q
TTSTile Shop Hldgs Inc	0.00%	60,000	$762,000	added+9%	−0.01 pp	2 q
SLCAU.s. Silica Holdings, Inc.	0.00%	32,100	$997,000	trimmed−27%	−0.01 pp	6 q
VLOValero Energy Corporation	0.00%	13,100	$1M	held	—	8 q
WPXWPX Energy, Inc.	0.00%	90,500	$1M	trimmed−50%	−0.01 pp	4 q
GLOBGlobant S.a.	0.00%	9,020	$361,000	trimmed−12%	0.00 pp	6 q
CMPRCimpress PLC (Ireland)	0.00%	10,500	$1M	held	—	4 q
unresolvedSpectranetics Corp	—	−1,356,500	—	exited	−0.27 pp	—
unresolvedNord Anglia Education Inc	—	−1,220,092	—	exited	−0.20 pp	—
unresolvedDigitalglobe Inc	—	−750,000	—	exited	−0.13 pp	—
MOMOHello Group Inc.	—	−631,624	—	exited	−0.12 pp	—
unresolvedClubcorp Holdings Inc	—	−1,663,909	—	exited	−0.11 pp	—
unresolvedZoes Kitchen Inc	—	−1,200,000	—	exited	−0.07 pp	—
LOWLowe's Companies Inc.	—	−113,122	—	exited	−0.04 pp	—
EVHEvolent Health, Inc Class A	—	−121,000	—	exited	−0.02 pp	—
PCRXPacira BioSciences, Inc.	—	−72,334	—	exited	−0.02 pp	—
unresolvedMobileye Nv	—	−71,563	—	exited	−0.02 pp	—
ARAntero Resources Corporation	—	−67,300	—	exited	−0.01 pp	—
unresolvedEnergen Corp	—	−25,866	—	exited	−0.01 pp	—
PXDPioneer Natural Resource Co.	—	−7,200	—	exited	−0.01 pp	—
SLBSLB Limited	—	−17,400	—	exited	−0.01 pp	—
SEMGSemgroup Corp-class A	—	−46,900	—	exited	−0.01 pp	—
SBUXStarbucks Corp	—	−48,649	—	exited	−0.01 pp	—
AMBAAmbarella, Inc.	—	−32,000	—	exited	−0.01 pp	—
FTITechnipFMC plc	—	−54,100	—	exited	−0.01 pp	—
CLBCore Laboratories Inc.	—	−10,550	—	exited	−0.01 pp	—
unresolvedPatheon N V	—	−67,902	—	exited	−0.01 pp	—
APCAnadarko Petroleum Corp	—	−19,800	—	exited	0.00 pp	—
BLBlackLine, Inc.	—	−4,564	—	exited	0.00 pp	—
DLChina Distance Education Holdings Limited	—	−38,229	—	exited	0.00 pp	—
CHUYChuy's Holdings, Inc.	—	−35,000	—	exited	0.00 pp	—
FEYEFireEye, Inc.	—	−46,074	—	exited	0.00 pp	—
FETForum Energy Technologies, Inc.	—	−54,500	—	exited	0.00 pp	—
GRFSGrifois, S.A.	—	−20,000	—	exited	0.00 pp	—
unresolvedKeane Group Inc	—	−29,200	—	exited	0.00 pp	—
unresolvedMindbody Cl A	—	−20,000	—	exited	0.00 pp	—
SNDSmart Sand, Inc.	—	−66,600	—	exited	0.00 pp	—
WBWeibo Corporation	—	−13,111	—	exited	0.00 pp	—
unresolvedLuxoft Holding	—	−4,557	—	exited	0.00 pp	—
unresolvedNetshoes Cayman Ltd	—	−11,094	—	exited	0.00 pp	—