Document
Table of Contents

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 FORM 11-K

(Mark One)
ý
Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934
For the fiscal year ended January 31, 2016.
or 
¨
Transaction Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934
For the transition period from              to             .
Commission file number 1-6991

A.
Full title of the plan and the address of the plan, if different from that of the issuer named below:
WALMART 401(k) PLAN
 
B.
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

WAL-MART STORES, INC.
702 Southwest Eighth Street
Bentonville, Arkansas 72716



Table of Contents

Walmart 401(k) Plan
Financial Statements and
Supplemental Schedule

As of January 31, 2016 and 2015, and for the year ended January 31, 2016


Table of Contents
 
Report of Independent Registered Public Accounting Firm
Statements of Net Assets Available for Benefits
Statement of Changes in Net Assets Available for Benefits
Notes to Financial Statements
Supplemental Schedule: Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
Signatures
Exhibit 23.1 - Consent of Independent Registered Public Accounting Firm
 



Table of Contents


Report of Independent Registered Public Accounting Firm

The Retirement Plans Committee
Walmart 401(k) Plan

We have audited the accompanying statements of net assets available for benefits of the Walmart 401(k) Plan as of January 31, 2016 and 2015, and the related statement of changes in net assets available for benefits for the year ended January 31, 2016. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Plan's internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Walmart 401(k) Plan at January 31, 2016 and 2015, and the changes in its net assets available for benefits for the year ended January 31, 2016, in conformity with U.S. generally accepted accounting principles.

The accompanying supplemental schedule of assets (held at end of year) as of January 31, 2016, has been subjected to audit procedures performed in conjunction with the audit of the Walmart 401(k) Plan's financial statements. The information in the supplemental schedule is the responsibility of the Plan's management. Our audit procedures included determining whether the information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the information, we evaluated whether such information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ Ernst & Young LLP
Rogers, Arkansas
July 15, 2016



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Table of Contents

Walmart 401(k) Plan
Statements of Net Assets Available for Benefits


 
 
January 31,
(Amounts in thousands)
 
2016
 
2015
Assets
 
 
 
 
Investments (at fair value)
 
$
20,808,002

 
$
22,413,903

Cash and Cash equivalents
 
11,391

 
3,079

Accrued Investment Income
 
2,265

 

Receivable due from broker
 

 
6

Total assets
 
20,821,658

 
22,416,988

 
 
 
 
 
Liabilities
 
 
 
 
Due to Broker
 
12,701



Accrued expenses
 
1,471

 

Total liabilities
 
14,172

 

Net assets available for benefits
 
$
20,807,486

 
$
22,416,988

See accompanying notes.

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Table of Contents

Walmart 401(k) Plan
Statement of Changes in Net Assets Available for Benefits

 
(Amounts in thousands)
Year Ended
January 31, 2016
Additions
 
Company contributions
$
962,419

Associate contributions
1,379,488

Interest and dividend income
90,562

Other, net
275

Total additions
2,432,744

Deductions
 
Benefit payments
(2,036,344
)
Administrative expenses
(34,887
)
Net depreciation in fair value of investments
(1,971,015
)
Total deductions
(4,042,246
)
Net decrease
(1,609,502
)
Net assets available for benefits at beginning of year
22,416,988

Net assets available for benefits at end of year
$
20,807,486

See accompanying notes.

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Table of Contents

Walmart 401(k) Plan
Notes to Financial Statements
January 31, 2016
1. Description of the Plan
The following description of the Walmart 401(k) Plan (the "Plan") provides general information regarding the Plan as in effect on January 31, 2016. This document is not part of the Summary Plan Description and is not a document pursuant to which the Plan is maintained within the meaning of section 402(a)(1) of the Employee Retirement Income Security Act of 1974, as amended ('ERISA'). Participants should refer to the Plan document for a complete description of the Plan's provisions. To the extent not specifically prohibited by statute or regulation, Wal-Mart Stores, Inc. ("Walmart" or "the Company") reserves the right to unilaterally amend, modify or terminate the Plan at any time; such changes may be applied to all Plan participants and their beneficiaries regardless of whether the participant is actively working or retired at the time of the change. The Plan may not be amended, however, to permit any part of the Plan's assets to be used for any purpose other than for the purpose of paying benefits to participants and their beneficiaries and paying Plan expenses.
General
The Plan is a defined-contribution plan established by the Company on February 1, 1997, as the Wal-Mart Stores, Inc. 401(k) Retirement Savings Plan. The Plan was amended, effective October 31, 2003, to merge the assets of the Wal-Mart Stores, Inc. Profit Sharing Plan ("Profit Sharing") applicable to United States participants into the Plan. In connection with the merger, the Plan was renamed the Wal-Mart Profit Sharing and 401(k) Plan. Effective February 1, 2011, the Plan was amended and restated in order to convert it to a safe harbor plan, allowing for matching and discretionary contribution components. In connection with the Plan amendment and restatement effective February 1, 2011, the Plan was renamed the Walmart 401(k) Plan. The Plan has a January 31 fiscal year end ("Plan Year").
Beginning February 1, 2015, each eligible employee can participate in the Plan beginning on the employee's date of hire. Prior to February 1, 2015, employees became eligible to participate upon completion of at least 1,000 hours of service in a consecutive 12-month period commencing on date of hire. The Plan is subject to the provisions of ERISA.
The responsibility for operation, the investment policy and administration of the Plan (except for day-to-day investment management and control of assets) is vested in the Plan's Retirement Plans Committee. Retirement Plans Committee members are appointed by the Company's Senior Vice President, Global Benefits or successor title, with ratification of a majority of sitting committee members.
The trustee function of the Plan is performed by The Northern Trust Company ("Northern Trust Company" or the "Trustee"). The Trustee receives and holds contributions made to the Plan trust and invests those contributions as directed by participants according to the policies established by the Retirement Plans Committee. The Northern Trust Company has appointed Bank of America, N.A. as the custodian of the Plan for the limited purpose of making payouts from the Plan in accordance with the Plan document. Merrill Lynch, Pierce, Fenner & Smith, Inc., which is the record-keeper for the Plan, is a subsidiary of Merrill Lynch & Company and ultimately a subsidiary of Bank of America Corporation.
Contributions
Eligible associates may elect to contribute up to 50% of their eligible wages, but are not required to contribute to the Plan. Participants who have attained age 50 before the end of the calendar year are eligible to make catch-up contributions. Participants may also contribute amounts representing distributions from other eligible retirement plans (rollover contributions).
Each eligible employee who has completed at least 1,000 hours of service in a consecutive 12-month period commencing on date of hire (or during any Plan Year) will receive a Company matching contribution. The Company makes a dollar-for-dollar matching contribution on each participant dollar contributed to the Plan up to six percent of each participant's eligible wages for the Plan year. Matching contributions are contributed to the Plan each payroll period and are calculated based on each participant's cumulative compensation and cumulative elective and catch-up contributions through such payroll period. The matching contribution is intended to be the primary type of the Company contributions to the Plan; however, the Company may elect to make additional types of contributions to the Plan. No such additional types of contributions were made for the Plan year ended January 31, 2016. All contributions are subject to certain limitations in accordance with provisions of the Internal Revenue Code (the "Code").

4

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Participant Accounts
Each participant's account is adjusted for administrative expenses and earnings (losses). Adjustments are determined by the investments held in each participant's account, the participant's contribution, and an allocation of the Company's contributions to the Plan made on the participant's behalf. Prior year forfeitures of non vested Profit Sharing contributions were used to pay some Plan expenses for the Plan year. The remaining prior year forfeitures and forfeitures of non-vested Profit Sharing contributions in the current Plan year were used or allocated to restore account balances of rehired participants or participants whose distributions were previously unclaimed.
Vesting
Participants are immediately vested in all elective contributions, catch-up contributions, matching contributions, Qualified Non-Elective contributions and rollover contributions. A participant's Profit Sharing contribution account shall vest based on years of service at a rate of 20% per year from years two through six and may become fully vested upon participant retirement at age 65 or above, total and permanent disability, or death.
Payment of Benefits and Withdrawals
Generally, payment upon a participant's separation from the Company (and its controlled group members) is a lump-sum payment in cash for the balance of the participant's vested account. However, participants may elect to receive a single lump-sum payment of their Profit Sharing contributions in whole shares of Company common stock, with partial or fractional shares paid in cash even if such contributions are not invested in Company common stock. Participants may also elect to receive a single lump-sum payment of the remainder of their accounts in whole shares of Company common stock, with partial or fractional shares paid in cash, but only to the extent such contributions are invested in Company common stock as of the date distributions are processed. To the extent the participant's Profit Sharing and contributions are not invested in Company common stock, the contributions will automatically be distributed in cash, unless directed otherwise by the participant. Participants may also elect to rollover their account balance into a different tax-qualified retirement plan or individual retirement account upon separation from the Company (and its controlled group members).
The Plan permits withdrawals of active participants' salary reduction contributions and rollover contributions only in amounts necessary to satisfy financial hardship as defined by the Internal Revenue Service ("IRS"). In-service withdrawal of vested balances may be elected by participants who have reached 59 1/2 years of age.
Plan Termination
While there is no intention to do so, the Company may discontinue the Plan subject to the provisions of ERISA. In the event of complete or partial Plan termination, or discontinuance of contributions to the Plan, any unvested amounts in participants' accounts shall become fully vested. The Plan shall remain in effect (unless it is specifically terminated) and the assets shall be administered in the manner provided by the terms of the trust agreement and distributed as soon as administratively feasible.
Investment Options
A participant may direct the Trustee to invest any portion of his or her elective contributions, catch-up contributions, matching contributions, Qualified Non-Elective contributions and rollover contributions in available investment options. Available investment options may change at any time. Participant investment options at January 31, 2016, include a variety of equity securities, mutual funds, bonds, and common/collective trusts.
A participant may direct the Trustee to invest any portion of his or her Profit Sharing contributions in available investment options, including Walmart common stock, or any of the investment options for elective contributions described previously.
Participant investments not directed by the associate are invested by the Trustee as determined by the Retirement Plans Committee.

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2. Summary of Accounting Policies
Basis of Accounting
The accompanying financial statements of the Plan are prepared utilizing the accrual method of accounting. Wal-Mart Stores, Inc. equity securities, other equity securities, and mutual funds are stated at fair value, which equals the exchange quoted market price on the last business day of the Plan Year. Bonds are stated at fair value obtained from third party pricing services. Investments in common/collective trust funds are stated at net asset value. Purchases and sales are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date. Net depreciation includes the gains and losses on investments bought and sold as well as held during the year. Benefit payments are recorded when paid. Walmart contributions are recorded by the Plan in the period in which they were accrued by Walmart. Walmart contributions to the Plan related to the Plan Year ended January 31, 2016, were paid throughout the Plan Year.
Use of Estimates
The preparation of the financial statements in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires Plan management to use estimates and assumptions that affect the amounts reported in the accompanying financial statements, notes and supplemental schedule. Actual results could differ from these estimates.
New Accounting Pronouncements
In July 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), and Health and Welfare Benefit Plans (Topic 965) - Part I. Fully Benefit-Responsive Investment Contracts; Part IIPlan Investment Disclosures; and Part III. Measurement Date Practical Expedient. Part I requires fully-benefit responsive investment contracts to be measured, presented, and disclosed only at contract value. Part II requires that investments that are measured using fair value (both participant-directed and nonparticipant-directed investments) be grouped only by general type, eliminating the need to disaggregate the investments by nature, characteristics, and risks. Part II also eliminates the disclosure of individual investments that represent 5 percent or more of net assets available for benefits and the disclosure of net appreciation or depreciation for investments by general type, requiring only presentation of net appreciation or depreciation in investments in the aggregate. Additionally, if an investment is measured using the net asset value per share as a practical expedient and that investment is a fund that files a U.S. Department of Labor Form 5500, as a direct filing entity, disclosure of that investment's strategy is no longer required. Part III is not applicable to the Plan. The Plan has elected to early adopt ASU 2015-12. Accordingly, the Plan retrospectively modified its investment disclosures as described above. The adoption had no effect on the Plan's statement of net assets available for benefits for the years ended January 31, 2016 and 2015, or statement of changes in net assets available for benefits for the year ended January 31, 2016.
In May 2015, FASB issued ASU 2015-07, Disclosure for Investments in Certain Entities That Calculate Net Assets Value per Share (or Its Equivalent). The standard eliminates the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share as a practical expedient. In addition, the update limits disclosures to investments for which the entity elected to measure the fair value using the practical expedient rather than all eligible investments. The standard is effective for interim and annual periods beginning after December 15, 2015. The Plan has elected to early adopt this ASU retrospectively as of January 31, 2016. The adoption had no effect on the Plan's change in net assets available for benefits or net assets available for benefits previously reported.



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3. Investments
The Trustee holds the Plan's investments and executes all investment transactions. The Plan invests in various investment securities. Investment securities are exposed to various risks, such as interest rate, market volatility and credit risks. The Plan attempts to limit these risks by authorizing and offering participants a broad range of investment options that are invested in high quality securities or are offered and administered by reputable and known investment and insurance companies. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants' account balances and the amounts reported in the Statements of Net Assets Available for Benefits. The Plan's exposure to a concentration of risk is limited by the diversification of investments across multiple investment fund options. Additionally, the investments within each investment fund option are further diversified into varied financial instruments.
At January 31, 2016 and 2015, participants may allocate their investments among 20 and 22 investment funds, respectively, (consisting of a variety of underlying equity securities, mutual funds, bonds and common/collective trusts) and may change their investment elections daily for future contributions.


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4. Fair Value Measurements
The Plan records and discloses certain financial and non-financial assets and liabilities at their fair value. The fair value of an asset is the price at which the asset could be sold in an ordinary transaction between unrelated, knowledgeable and willing parties able to engage in the transaction. A liability's fair value is defined as the amount that would be paid to transfer the liability to a new obligor in a transaction between such parties, not the amount that would be paid to settle the liability with the creditor. Assets and liabilities recorded at fair value are measured using the fair value hierarchy, which prioritizes the inputs used in measuring fair value. The levels of the fair value hierarchy are:
Level 1: observable inputs such as quoted prices in active markets;
Level 2: inputs other than quoted prices in active markets that are either directly or indirectly observable; and
Level 3: unobservable inputs for which little or no market data exists, therefore requiring the Plan to develop its own assumptions. There were no Level 3 investments in the Plan as of January 31, 2016 or 2015.
 The valuation of financial instruments carried at fair value on a recurring basis is as follows:
 

Fair Value Measurements as of January 31, 2016
(Amounts in thousands)

Level 1
 
Level 2
 
Total
Assets:


 

 

Walmart Stores Inc. Equity Securities (a)
 
$
2,905,328


$


$
2,905,328

Other Equity Securities (a)

1,069,410

 

 
1,069,410

Mutual Funds (a)

1,056,031

 

 
1,056,031

Bonds (c)
 

 
617,044

 
617,044

Total Investments at Fair Value

5,030,769

 
617,044

 
5,647,813

Common/Collective Trusts measured at Net Asset Value
 
 
 
 
 
 
     US Equity (Large Cap) (b)
 

 

 
5,650,043

     US Equity (Small Mid Cap) (b)
 

 

 
1,220,546

     International Equity (b)
 

 

 
3,045,892

     Bond Fund (b)
 

 

 
2,157,666

     Short Term Bond Fund (b)
 

 

 
557,105

     Short Term Investment Fund (b)
 

 

 
338,818

     Global Listed Infrastructure (b)
 

 

 
274,187

     Commodities (b)
 

 

 
666,794

     Global Real Estate Investment Trusts (b)
 

 

 
1,249,138

Total Common/Collective Trusts measured at Net Asset Value
 

 

 
15,160,189

Total Investments
 
$
5,030,769

 
$
617,044

 
$
20,808,002

(a)
Fair value is based on quoted price in active market.
(b)
Fair value is based on the Net Asset Value provided by the issuer.
(c)
Fair value is based on prices obtained from third party pricing services. Observable inputs used to value these securities can include, but are not limited to, reported trades, benchmark yields, issuer spreads and non-binding broker quotes.


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Fair Value Measurements as of January 31, 2015
(Amounts in thousands)
 
Level 1
 
Level 2
 
Total
Assets:
 
 
 
 
 
 
Walmart Stores Inc. Equity Securities (a)
 
$
3,918,075

 
$

 
$
3,918,075

Mutual Funds (a)
 
1,345,874

 

 
1,345,874

Exchange Traded Fund (ETF) (a)
 
574,558

 

 
574,558

Bonds (c)
 

 
402

 
402

Total Investments at Fair Value
 
5,838,507

 
402

 
5,838,909

Common/Collective Trusts measured at Net Asset Value
 
 
 
 
 
 
     US Equity (Large Cap) (b)
 

 

 
5,963,635

     US Equity (Small Mid Cap) (b)
 

 

 
1,924,047

     International Equity (b)
 

 

 
2,414,331

     Bond Fund (b)
 

 

 
3,335,604

     Short Term Bond Fund (b)
 

 

 
651,146

     Short Term Investment Fund (b)
 

 

 
294,671

     Global Listed Infrastructure (b)
 

 

 
134,967

     Commodities (b)
 

 

 
680,667

     Global Real Estate Investment Trusts (b)
 

 

 
1,175,926

Total Common/Collective Trusts measured at Net Asset Value
 

 

 
16,574,994

Total Investments
 
$
5,838,507

 
$
402

 
$
22,413,903

 
(a)
Fair value is based on quoted price in active market.
(b)
Fair value is based on the Net Asset Value provided by the issuer.
(c)
Fair value is based on prices obtained from third party pricing services. Observable inputs used to value these securities can include, but are not limited to, reported trades, benchmark yields, issuer spreads and non-binding broker quotes.



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5. Differences between Financial Statements and Form 5500
The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500: 
 
 
January 31,
(Amounts in thousands)
 
2016
 
2015
Net assets available for benefits per the financial statements
 
$
20,807,486

 
$
22,416,988

Less: Amounts allocated to withdrawn participants
 
(13,906
)
 
(12,649
)
Net assets available for benefits per the Form 5500
 
$
20,793,580

 
$
22,404,339

The following is a reconciliation of the net decrease in net assets available for benefits per the financial statements to the Form 5500 for the year ended January 31, 2016:
(Amounts in thousands)
 
Net decrease per the financial statements
$
(1,609,502
)
Less: Amounts allocated to withdrawn participants at January 31, 2016
(13,906
)
Add: Amounts allocated to withdrawn participants at January 31, 2015
12,649

Net decrease per the Form 5500
$
(1,610,759
)
Amounts allocated to withdrawn participants are recorded in the Form 5500 for benefit payments that have been processed and approved for payment prior to January 31, but not paid as of that date.
6. Tax Status
The Plan has received a determination letter from the IRS dated April 3, 2015, stating that the Plan is qualified under Section 401(a) of the Code and, therefore, the related trust is exempt from taxation. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Company believes the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes the Plan, as amended, is qualified and the related trust is tax exempt.
U.S. GAAP requires Plan management to evaluate uncertain tax positions taken by the Plan. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the IRS. The Company has analyzed the tax positions taken by the Plan and has concluded that as of January 31, 2016, there are no uncertain tax positions taken or expected to be taken. The Plan has recognized no interest or penalties related to uncertain tax positions. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Plan remains subject to income tax examinations for fiscal 2013 and subsequent fiscal years.
7. Party-In-Interest Transactions
The Plan holds units of common/collective trust funds managed by The Northern Trust Company, the trustee for the Plan. The Plan also invests in the common stock of the Company. These transactions qualify as party-in-interest transactions; however, they are exempt from the prohibited transactions rules under ERISA.
At January 31, 2016 and 2015, the Plan held $628.6 million and $0.2 million of common/collective trust funds managed by the Trustee, respectively.
At January 31, 2016 and 2015, the Plan held 43.8 million and 46.1 million shares of common stock of the Company, with a fair value of approximately $2.9 billion and $3.9 billion, respectively. For the year ended January 31, 2016, the Plan recorded dividend income on the common stock of the Company of approximately $88 million.
8. Subsequent events
Effective February 1, 2016, participants may borrow from their fund accounts a minimum of $1,000 up to generally a maximum of $50,000 or 50% of their vested account balance. Participants may only have one general purpose loan and one residential loan outstanding at any time. Loan terms range from one to five years for general purpose loans and one to fifteen years for residential loans. The loans are secured by the balance in the participant's account and bear fixed interest at the prime rate on the last day of the month preceding the month in which the loan is processed for payment, plus one percent. Payments of principal and interest on the loan will be deducted from an employee's regular pay in equal amounts each pay period beginning with the first pay period following the date of the loan.

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Supplemental Schedule
Walmart 401(k) Plan
EIN #71-0415188, Plan #003
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
January 31, 2016
 
(Amounts in thousands, except share information)
 
 
 
Security Name
Shares held at January 31, 2016
 
 Investments at Fair Value
WALMART STORES INC EQUITY SECURITIES

 

WAL-MART STORES INC COM*
43,781,310

 
$
2,905,328

TOTAL WALMART STORES INC EQUITY

 
2,905,328

OTHER EQUITY SECURITIES

 


AVAGO TECHNOLOGIES LTD NPV STOCK MERGER BROADCOM LTD 2215AK1 02-01-2016
59,682

 
7,980

1ST COMWLTH FNCL CORP COM LM
252,035

 
2,200

1ST NIAGARA FINL GROUP INC NEW COM
185,100

 
1,812

3M CO COM
4,722

 
713

8X8 INC NEW COM
79,740

 
1,001

ABERCROMBIE & FITCH CO CL A
149,400

 
3,920

ABIOMED INC COM
30,059

 
2,565

ACACIA RESH CORP COM
754,300

 
2,821

ACCENTURE PLC SHS CL A NEW
5,524

 
583

ACCO BRANDS CORP COM
523,100

 
3,175

ACCURAY INC DEL COM
206,487

 
1,100

ACTUANT CORP CL A NEW
55,500

 
1,292

ACUITY BRANDS INC COM
2,462

 
498

ACXIOM CORP COM
133,758

 
2,501

ADAMAS PHARMACEUTICALS INC COM
28,256

 
484

ADOBE SYS INC COM
64,920

 
5,786

ADR ANHEUSER BUSCH INBEV SA/NV SPONSOREDADR
19,890

 
2,503

ADR FLAMEL TECHNOLOGIES SA SPONSORED ADR
197,979

 
2,011

ADR SMITH & NEPHEW P L C SPONSORED ADR NEW
167,092

 
5,608

ADR WNS HLDGS LTD SPONSORED ADR
49,332

 
1,415

ADT CORP COM
165,001

 
4,881

AETNA INC
13,171

 
1,341

AGILENT TECHNOLOGIES INC COM
5,912

 
222

AIRGAS INC COM
67,437

 
9,441

ALEXION PHARMACEUTICALS INC COM
15,230

 
2,222

ALLERGAN PLC. COMMON STOCK
29,600

 
8,419

ALLIANCE DATA SYS CORP COM
9,460

 
1,890

ALLSTATE CORP COM
11,242

 
681

ALPHABET INC CAP STK CL A CAP STK CL A
12,731

 
9,693

ALPHABET INC CAP STK CL C CAP STK CL C
11,093

 
8,241

ALTRIA GROUP INC COM
19,319

 
1,180

AMAZON COM INC COM
14,420

 
8,464

AMER FINL GROUP INC OH COM STK
9,808

 
696

AMERICAN EQUITY INVT LIFE HLDG CO COM
53,000

 
964

AMERICAN TOWER CORP
33,190

 
3,131

AMERICAN VANGUARD CORP COM
66,200

 
745

AMERISOURCEBERGEN CORP COM
63,652

 
5,701


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AMGEN INC COM
14,770

 
2,256

AMN HEALTHCARE SVCS INC COM
21,977

 
619

AMTRUST FINL SVCS INC COM
32,785

 
1,875

ANACOR PHARMACEUTICALS INC COM STK
6,920

 
520

ANALOG DEVICES INC COM
19,879

 
1,071

ANALOGIC CORP COM PAR $0.05
53,820

 
3,986

ANDERSONS INC COM
87,000

 
2,550

APOGEE ENTERPRISES INC COM
78,528

 
3,124

APPLE INC COM STK
145,587

 
14,171

APPLIED OPTOELECTRONICS INC COM
58,051

 
950

ARIAD PHARMACEUTICALS INC COM
161,382

 
810

AT&T INC COM
34,474

 
1,243

ATLAS AIR WORLDWIDE HLDGS INC COM NEW STK
100,566

 
3,694

AUTOBYTEL INC COM NEW
48,187

 
879

AUTOZONE INC COM
4,620

 
3,545

AVERY DENNISON CORP COM
3,224

 
196

AVIS BUDGET GROUP INC COM STK
33,274

 
874

AVNET INC COM
6,487

 
259

BANCORP INC DEL COM STK
350,223

 
1,576

BANK OF THE OZARKS INC COM
210,051

 
9,314

BARNES GROUP INC COM
39,785

 
1,293

BAXALTA INC COM
30,257

 
1,211

BBCN BANCORP INC COM
46,123

 
701

BEACON ROOFING SUPPLY INC COM
32,385

 
1,312

BERKLEY W R CORP COM
19,200

 
963

BERKSHIRE HATHAWAY INC-CL B
20,383

 
2,645

BERRY PLASTICS GROUP INC COM
64,142

 
1,995

BIG LOTS INC COM
51,600

 
2,001

BIODELIVERY SCIENCES INTL INC COM
464,665

 
1,882

BIOGEN INC COMMON STOCK
13,538

 
3,697

BIOSPECIFICS TECHNOLOGIES CORP COM
19,895

 
760

BLACK BOX CORP DEL COM
171,490

 
1,307

BLACK KNIGHT FINL SVCS INC CL A CL A
29,649

 
895

BLACKHAWK NETWORK HLDGS INC COMMON STOCK
43,690

 
1,647

BOEING CO COM
58,424

 
7,018

BOFI HLDG INC COM STK
35,828

 
615

BOINGO WIRELESS INC COM STK
125,499

 
766

BRINKER INTL INC COM
26,304

 
1,308

BRISTOL MYERS SQUIBB CO COM
87,690

 
5,451

BRIXMOR PPTY GROUP INC COM
234,860

 
6,252

BROADRIDGE FINL SOLUTIONS INC COM STK
117,095

 
6,272

BROADSOFT INC COM
25,967

 
888

BUILDERS FIRSTSOURCE INC COM STK
68,204

 
548

BURLINGTON STORES INC COM
12,150

 
653

C R BARD
8,579

 
1,572

CACI INTL INC CL A CL A
8,291

 
689

CAESARSTONE SDOT YAM LTD COM STK
39,896

 
1,500

CALAMP CORP COM
247,778

 
4,212

CALLAWAY GOLF CO COM
116,896

 
1,018

CALLIDUS SOFTWARE INC COM STK
145,513

 
2,245


12

Table of Contents

CAMBREX CORP COM
21,110

 
731

CANADIAN PAC RY LTD COM NPV
33,190

 
3,974

CAP BK FINL CORP CL A COM CL A COM
23,486

 
715

CAPITAL SR LIVING CORP COM
123,679

 
2,267

CARA THERAPEUTICS INC COM
35,313

 
318

CARBO CERAMICS INC COM
202,300

 
3,348

CARDINAL HLTH INC
20,692

 
1,684

CARDTRONICS INC COM STK
49,177

 
1,515

CARLISLE COMPANIES INC COM
13,970

 
1,169

CARMIKE CINEMAS INC COM
84,249

 
1,869

CARRIZO OIL & GAS INC COM
40,916

 
1,110

CASEYS GEN STORES INC COM
78,491

 
9,477

CAVCO INDS INC DEL COM STK
12,107

 
1,015

CEB INC COM
130,834

 
7,717

CELGENE CORP COM
79,290

 
7,954

CHEGG INC COM
103,973

 
603

CHEVRON CORP COM
19,342

 
1,673

CHOICE HOTELS INTL INC COM
8,180

 
358

CHURCH & DWIGHT INC COM
88,117

 
7,402

CHURCHILL DOWNS INC COM
14,142

 
1,954

CHUYS HOLDINGS INC COM USD0.01
77,069

 
2,635

CIRCOR INTL INC COM
25,339

 
899

CISCO SYSTEMS INC
68,045

 
1,619

CLUBCORP HLDGS INC COM
110,384

 
1,321

CME GROUP INC COM STK
40,430

 
3,633

CMNTY HLTH SYS INC NEW COM
189,000

 
4,060

COCA COLA CO COM
43,216

 
1,855

COCA-COLA ENTERPRISES INC NEW COM
37,820

 
1,756

COGNIZANT TECH SOLUTIONS CORP CL A
89,910

 
5,692

COHERENT INC COM
11,951

 
923

COLUMBIA PIPELINE GROUP INC COM
12,880

 
239

COM EUR0.10
69,697

 
2,189

COMCAST CORP NEW-CL A
106,917

 
5,956

COMERICA INC COM
9,674

 
332

COMFORT SYS USA INC COM
20,433

 
579

COOPER-STANDARD HOLDING COM
10,529

 
729

CORE LABORATORIES NV NLG0.03
50,865

 
5,005

CORE-MARK HLDG CO INC COM
21,513

 
1,749

CORNERSTONE ONDEMAND INC COM
89,024

 
2,732

COSTAR GROUP INC COM
9,347

 
1,639

CRACKER BARREL OLD CTRY STORE INC COM
5,036

 
661

CRANE CO COM
76,000

 
3,630

CROSS CTRY HEALTHCARE INC COM
55,611

 
801

CROWN CASTLE INTL CORP NEW COM
64,232

 
5,537

CROWN HLDGS INC COM
13,801

 
633

CURTISS WRIGHT CORP COM
9,936

 
686

CVS HEALTH CORP COM
20,506

 
1,981

CYNOSURE INC CL A
86,323

 
3,125

CYPRESS SEMICONDUCTOR CORP COM
113,000

 
888

CYRUSONE INC COM
20,017

 
738


13

Table of Contents

CYTOKINETICS INC COMMON STOCK
84,267

 
649

DANAHER CORP COM
19,730

 
1,710

DAVE & BUSTERS ENTMT INC COM
52,414

 
1,901

DELPHI AUTOMOTIVE PLC
2,817

 
183

DICKS SPORTING GOODS INC OC-COM
7,031

 
275

DIGIMARC CORP NEW COM STK
16,580

 
593

DIGITALGLOBE INC COM NEW COM NEW
55,171

 
723

DISCOVER FINL SVCS COM STK
108,087

 
4,949

DOMINOS PIZZA INC COM
10,737

 
1,223

DR PEPPER SNAPPLE GROUP INC COM STK
31,565

 
2,962

DXP ENTERPRISES INC COM NEW STK
46,000

 
721

DYCOM INDS INC COM
26,602

 
1,763

DYNAVAX TECHNOLOGIES CORP COM NEW COM NEW
31,916

 
769

EAGLE PHARMACEUTICALS INC COM
10,511

 
756

EAST WEST BANCORP INC COM
7,630

 
247

ELECTRONICS FOR IMAGING INC COM
21,330

 
883

ELLIE MAE INC COM STK
11,084

 
774

ENCORE CAP GROUP INC COM
41,214

 
945

ENTERGY CORP NEW COM
24,621

 
1,738

EOG RESOURCES INC COM
24,690

 
1,753

EQTY LIFESTYLE PPTYS INC REIT
10,482

 
691

ESTEE LAUDER COMPANIES INC CL A
13,410

 
1,143

EURONET WORLDWIDE INC COM
12,610

 
1,006

EVEREST RE GROUP COM
7,361

 
1,317

EXAMWORKS GROUP INC COM
88,504

 
2,430

EXPRESS INC COM
35,073

 
595

EXXON MOBIL CORP COM
50,854

 
3,959

F N B CORP PA COM
215,300

 
2,594

F5 NETWORKS INC COM STK
10,900

 
1,022

FACEBOOK INC CL A CL A
106,083

 
11,903

FACTSET RESH SYS INC COM STK
41,274

 
6,220

FBL FINL GROUP INC CL A CL A
19,190

 
1,172

FBR & CO FORMERLY FBR CAP MKTS CORP TO 06/01/2011 COM NEW COM NEW
53,359

 
977

FCB FINL HLDGS INC CL A CL A
26,556

 
893

FIBROGEN INC COM
33,460

 
678

FID NATL FINL INC NEW FORMERLY FID FNFV GROUP COM STK
19,917

 
187

FIESTA RESTAURANT GROUP INC COM
56,442

 
2,054

FINANCIAL ENGINES INC COM
46,517

 
1,254

FMC CORP COM (NEW)
26,000

 
929

FMC TECHNOLOGIES INC COM
7,239

 
182

FOOT LOCKER INC COM
12,548

 
848

FOSTER L B CO CL A
204,753

 
2,361

GAMESTOP CORP NEW CL A
169,943

 
4,454

GARTNER INC COM
14,744

 
1,296

GENERAL DYNAMICS CORP COM
22,034

 
2,947

GENESCO INC COM
28,300

 
1,872

GIBRALTAR INDS INC COM
29,870

 
634

GIGAMON INC COM
50,579

 
1,323

GILEAD SCIENCES INC
71,550

 
5,939


14

Table of Contents

GLOBAL EAGLE ENTERTAINMENT INC
92,538

 
935

GLOBAL PMTS INC COM
4,554

 
268

GLOBUS MED INC CL A NEW COM STK
90,538

 
2,259

GODADDY INC CL A CL A
25,689

 
783

GOGO INC COM
199,415

 
2,901

GRAY T.V INC COM CL B
67,893

 
893

GREAT WESTN BANCORP INC COM
33,321

 
870

GREEN DOT CORP COM STK
339,344

 
6,030

GTT COMMUNICATIONS INC COM
37,745

 
562

GUIDEWIRE SOFTWARE INC COM
19,479

 
1,072

H & E EQUIP SVCS INC COM
67,210

 
783

HANOVER INS GROUP INC COM
11,425

 
931

HARMAN INTL INDS INC NEW COM STK
23,712

 
1,764

HARRIS CORP COM
85,397

 
7,427

HCA HLDGS INC COM
53,230

 
3,704

HEALTHSOUTH CORP COM NEW STK
190,727

 
6,826

HEICO CORP NEW COM
13,227

 
737

HEXCEL CORP NEW COM
25,272

 
1,046

HIGHWOODS PPTYS INC COM
68,400

 
2,893

HILL ROM HLDGS INC COM STK
19,202

 
938

HILTON WORLDWIDE HLDGS INC COM
106,560

 
1,898

HMS HLDGS CORP COM
79,184

 
954

HOME DEPOT INC COM
104,485

 
13,140

HOMESTREET INC
41,821

 
856

HONEYWELL INTL INC COM STK
13,771

 
1,421

HUBSPOT INC COM
13,442

 
546

HURON CONSULTING GROUP INC COM STK
53,456

 
2,999

HYSTER-YALE MATLS HANDLING INC CL A COM
20,303

 
1,055

ICU MED INC COM
19,677

 
1,894

IMMERSION CORP COM
61,717

 
523

IMPERVA INC
12,211

 
630

INFOBLOX INC COM USD0.01
254,392

 
4,106

INPHI CORP COM
35,316

 
980

INTEGRA LIFESCIENCES HLDG CORP COM DESP
106,022

 
6,515

INTEGRATED DEVICE TECHNOLOGY INC COM
38,109

 
971

INTEL CORP COM
44,499

 
1,380

INTERNATIONAL BUSINESS MACHS CORP COM
2,899

 
362

INTL FLAVORS & FRAGRANCES INC COM
50,156

 
5,866

INTL PAPER CO COM
86,106

 
2,946

INTRA-CELLULAR THERAPIES INC COM
16,009

 
594

INVESCO LTD COM STK
8,826

 
264

ITC HLDGS CORP COM STK
150,613

 
6,009

IXIA COM
80,712

 
772

J ALEXANDERS HLDGS INC COM CL A
4,365

 
41

J2 GLOBAL INC COM
12,003

 
870

JACK HENRY & ASSOC INC COM
123,009

 
9,986

JACK IN THE BOX INC COM
41,234

 
3,201

JOHN BEAN TECHNOLOGIES CORP COM STK
17,428

 
798

JOHNSON & JOHNSON COM USD1
30,837

 
3,221

JONES LANG LASALLE INC COM STK
3,289

 
463


15

Table of Contents

KEYSIGHT TECHNOLOGIES INC COM
38,000

 
889

KFORCE INC
36,825

 
821

KIMBERLY-CLARK CORP COM
5,691

 
731

KINDRED HEALTHCARE INC COM STK
233,000

 
2,251

KITE PHARMA INC COM
12,055

 
572

KORN / FERRY INTL COM NEW
98,318

 
3,029

KS CY SOUTHN
68,335

 
4,844

L BRANDS INC COM
30,510

 
2,934

LA QUINTA HLDGS INC COM
51,776

 
587

LAM RESH CORP COM
47,920

 
3,440

LAS VEGAS SANDS CORP COM STK
22,720

 
1,025

LASALLE HOTEL PPTYS COM SH BEN INT
100,434

 
2,226

LENDINGTREE INC NEW COM
7,527

 
555

LEXICON PHARMACEUTICALS INC FORMERLY LE COMMON STOCK
50,850

 
518

LIFELOCK INC COM
52,229

 
626

LIGAND PHARMACEUTICALS INCORPORATED CL BCOMMON STOCK
17,607

 
1,760

LINCOLN ELEC HLDGS INC COM
10,767

 
573

LINKEDIN CORP CL A
14,770

 
2,923

LIPOCINE INC NEW COM
56,478

 
512

LIVANOVA PLC ORD GBP1.00 (DI)
38,639

 
2,163

LKQ CORP COM LKQ CORP
61,759

 
1,692

LOCKHEED MARTIN CORP COM
14,770

 
3,116

LOGMEIN INC COM
35,843

 
1,872

LOWES COS INC COM
15,738

 
1,128

LSB INDS INC COM
186,251

 
1,043

LYON WILLIAM HOMES CL A NEW COM USD0.01 CL'A'(POST REV SPLIT)
111,780

 
1,214

LYONDELLBASELL IND N V COM USD0.01 CL 'A'
3,476

 
271

M/A-COM TECHNOLOGY SOLUTIONS HLDGS INC COM STK
21,668

 
834

MADDEN STEVEN LTD COM
34,673

 
1,120

MANHATTAN ASSOCS INC COM
10,789

 
622

MANNING & NAPIER INC CL A
83,325

 
687

MARKETO INC COM
120,427

 
2,289

MARRIOTT INTL INC NEW COM STK CL A
19,280

 
1,181

MASIMO CORP COM STK
21,994

 
808

MASTEC INC COM
134,693

 
2,080

MASTERCARD INC CL A
119,902

 
10,675

MATSON INC COM
20,104

 
812

MAXIMUS INC COM
96,024

 
5,125

MAXLINEAR INC-CLASS A
371,435

 
5,713

MC DONALDS CORP COM
40,658

 
5,033

MCKESSON CORP
6,455

 
1,039

MDC PARTNERS INC CL A SUB VTG SHS CL A SUB VTG SHS
363,491

 
7,103

MEDICINES COMPANY COM
36,468

 
1,260

MERCK & CO INC NEW COM
28,653

 
1,452

MICROSOFT CORP COM
246,018

 
13,553

MLP LAZARD LTD CL A
147,847

 
5,321

MLP SUNOCO LOGISTICS PARTNERS L P COM UNITS
155,417

 
3,461

MOBILE MINI INC COM
64,242

 
1,665

MOLINA HEALTHCARE INC COM
59,384

 
3,261

MOLSON COORS BREWING CO CL B CL B
13,502

 
1,222


16

Table of Contents

MONDELEZ INTL INC COM
25,335

 
1,092

MONOLITHIC PWR SYS INC COM
12,176

 
762

MONOTYPE IMAGING HLDGS INC COM STK
74,351

 
1,854

MONRO MUFFLER BRAKE INC COM
10,095

 
664

MOTORCAR PTS & ACCESSORIES INC COM
20,052

 
689

NATIONAL CINEMEDIA INC COM
87,508

 
1,369

NATIONAL GEN HLDGS CORP COM
86,764

 
1,717

NATIONAL STORAGE AFFILIATES TR COM SHS BEN INT COM SHS BEN INT
42,668

 
742

NATUS MED INC DEL COM
47,778

 
1,686

NAUTILUS INC COM
40,078

 
781

NEENAH PAPER INC COM
11,795

 
713

NEOGENOMICS INC COM NEW COM NEW
101,128

 
690

NEOPHOTONICS CORP
97,555

 
875

NETGEAR INC COM
19,011

 
710

NEUROCRINE BIOSCIENCES INC COM
19,375

 
824

NEVRO CORP COM
15,160

 
937

NEW RELIC INC COM
27,042

 
763

NEWMARKET CORP COM
11,828

 
4,486

NEXSTAR BROADCASTING GROUP INC CL A
20,138

 
910

NEXTERA ENERGY INC COM
26,046

 
2,910

NIKE INC CL B
110,686

 
6,864

NISOURCE INC COM
12,880

 
271

NORDSON CORP COM
104,794

 
6,333

NORTHROP GRUMMAN CORP COM
12,572

 
2,327

NOVADAQ TECHNOLOGIES INC COM
115,154

 
1,268

NRG YIELD INC CL A NEW CL A NEW
236,952

 
2,938

NUTRI SYS INC NEW COM
29,054

 
576

NXP SEMICONDUCTORS N V COM STK
37,960

 
2,839

NXSTAGE MED INC COM STK
48,395

 
916

O REILLY AUTOMOTIVE INC NEW COM
15,280

 
3,987

OCEANEERING INTL INC COM
7,113

 
241

OFG BANCORP COM
868,545

 
4,881

OMEGA HEALTHCARE INVS INC REIT
181,269

 
5,748

OMEGA PROTEIN CORP COM
93,489

 
2,112

ON ASSIGNMENT INC COM
159,500

 
6,165

ON DECK CAP INC COM
128,881

 
1,021

ONE GAS INC COM
15,579

 
881

OPEN TEXT CORP COM
70,000

 
3,420

OPHTHOTECH CORP COM
10,685

 
579

ORBOTECH LTD SH COM
70,999

 
1,482

OSI SYS INC COM
103,846

 
5,693

OTONOMY INC COM
29,037

 
433

PACIRA PHARMACEUTICALS INC COM
42,859

 
2,547

PANDORA MEDIA INC
101,526

 
987

PARTY CITY HOLDCO INC COM
83,626

 
805

PATRICK INDS INC COM
19,930

 
697

PAYCOM SOFTWARE INC COM
19,306

 
582

PAYLOCITY HLDG CORP COM
17,363

 
540

PBF ENERGY INC CL A CL A
136,671

 
4,782


17

Table of Contents

PDF SOLUTIONS INC COM
192,108

 
2,081

PENN NATL GAMING INC COM
97,423

 
1,377

PEPSICO INC COM
25,832

 
2,565

PERFICIENT INC COM STK
174,658

 
3,327

PERKINELMER INC COM
18,699

 
904

PFIZER INC COM
170,502

 
5,199

PFSWEB INC COM NEW STK
52,699

 
652

PHILIP MORRIS INTL COM STK NPV
62,355

 
5,613

PHOTRONICS INC COM
70,234

 
839

PINNACLE FOODS INC DEL COM
20,850

 
894

POLARIS INDS INC COM
63,415

 
4,683

PORTOLA PHARMACEUTICALS INC COM
14,952

 
494

POST HLDGS INC COM STK
13,772

 
806

POST PPTYS INC REIT
9,813

 
562

POWER SOLUTIONS INTL INC COM NEW COM
46,214

 
552

PPG IND INC COM
23,780

 
2,262

PRESTIGE BRANDS HLDGS INC COM
46,254

 
2,159

PRINCIPAL FINL GROUP INC COM STK
24,928

 
947

PROCTER & GAMBLE COM NPV
60,692

 
4,958

PROOFPOINT INC COM
46,118

 
2,323

PROSPERITY BANCSHARES INC COM
171,266

 
7,262

PROTHENA CORP PLC
13,772

 
536

PTC INC COM
20,737

 
614

Q2 HLDGS INC COM
30,043

 
651

QLIK TECHNOLOGIES INC COM STK
63,380

 
1,587

QUALYS INC COM
63,488

 
1,650

QUEST DIAGNOSTICS INC COM
87,474

 
5,744

RAYMOND JAMES FNCL INC COM STK
31,746

 
1,391

REGENCY CTRS CORP COM
9,431

 
683

REINSURANCE GROUP AMER INC COM NEW STK
8,672

 
730

RESMED INC COM
125,020

 
7,089

RESTORATION HARDWARE HLDGS INC COM
17,589

 
1,084

REVANCE THERAPEUTICS INC COM
17,623

 
365

RINGCENTRAL INC CL A CL A
41,752

 
911

ROCKWELL AUTOMATION
52,006

 
4,970

ROSS STORES INC COM
147,138

 
8,278

ROVI CORP COM
48,499

 
944

RUCKUS WIRELESS INC COM
150,969

 
1,270

RUDOPLH TECHNOLOGIES INC COM
56,323

 
721

RUSH ENTERPRISES INC CL A CL A
30,094

 
575

RYDER SYS INC COM
24,313

 
1,293

SANFILIPPO JOHN B & SON INC COM
14,260

 
855

SBA COMMUNICATIONS CORP CL A COM
19,830

 
1,969

SCHWAB CHARLES CORP COM NEW
127,310

 
3,250

SCRIPPS NETWORKS INTERACTIVE INC CL A COM STK
77,499

 
4,725

SELECTIVE INS GROUP INC COM
44,200

 
1,384

SERVISFIRST BANCSHARES INC COMMON STOCK
12,389

 
496

SHERWIN-WILLIAMS CO COM
1,227

 
314

SHIRE PLC ADR
19,280

 
3,245

SHORETEL INC COM
85,759

 
704


18

Table of Contents

SHUTTERFLY INC COM
43,441

 
1,809

SIGNATURE BK NY N Y COM
14,515

 
2,023

SIGNET JEWELERS LTD ORD USD0.18
9,750

 
1,131

SILICON GRAPHICS INTL CORP COM
592,439

 
3,481

SILICON LABORATORIES INC COM
12,679

 
578

SIMON PROPERTY GROUP INC COM
11,229

 
2,092

SIX FLAGS ENTMT CORP NEW COM
15,552

 
782

SKYWORKS SOLUTIONS INC COM
15,109

 
1,041

SMITH A O CORP COM
21,298

 
1,488

SNAP-ON INC COM
72,487

 
11,711

SODASTREAM INTERNATIONAL LTD COM STK
136,500

 
1,895

SOUTHWESTERN ENERGY CO COM
100,000

 
889

SOVRAN SELF STORAGE INC COM
8,990

 
1,013

SPS COMM INC COM
57,277

 
3,739

ST JUDE MED INC COM
14,974

 
792

STAMPS COM INC COM NEW
6,526

 
612

STANLEY BLACK & DECKER INC COM
6,626

 
625

STARBUCKS CORP COM
79,240

 
4,815

STEELCASE INC CL A COM
204,717

 
2,612

STERIS PLC NEW STERIS LTD COMSTK
122,290

 
8,467

SUPER MICRO COMPUTER INC COM
20,998

 
625

SUPERNUS PHARMACEUTICALS INC COM STK
129,190

 
1,465

SURGICAL CARE AFFILIATES INC COM
16,209

 
692

SWIFT TRANSN CO CL A CL A COM STK
168,611

 
2,750

SYNCHRONOSS TECHNOLOGIES INC COM STK
117,938

 
3,614

TALEN ENERGY CORP COM
3,365

 
24

TCF FNCL CORP COM
132,800

 
1,595

TELEPHONE & DATA SYS INC COM STK
26,661

 
618

TELIGENT INC NEW COM
169,917

 
1,220

TEMPUR SEALY INTL INC COM
12,870

 
777

TENNECO INC
25,041

 
957

TESARO INC COM
15,195

 
525

TEXTURA CORP COM
45,382

 
717

THERAPEUTICSMD INC COM
87,025

 
622

TIDEWATER INC COM
410,157

 
2,178

TITAN MACHY INC COM
130,825

 
1,111

TJX COS INC COM NEW
4,142

 
295

TOLL BROS INC COM
26,903

 
743

TOWER INTL INC COM STK
27,493

 
633

TRACTOR SUPPLY CO COM
89,560

 
7,909

TREVENA INC COM
63,365

 
461

TRIMBLE NAV LTD COM
47,773

 
922

TRIUMPH GROUP INC NEW COM
172,200

 
4,391

TRUEBLUE INC COM STK
27,042

 
618

TUESDAY MORNING CORP COM NEW
162,745

 
906

U S CONCRETE INC COMMON STOCK
20,641

 
939

U S PHYSICAL THERAPY COM
13,264

 
678

ULTA SALON COSMETICS & FRAGRANCE INC COMSTK
26,060

 
4,721

UNDER ARMOR INC CL A
15,030

 
1,284

UNION PAC CORP COM
58,750

 
4,230


19

Table of Contents

UNITED NAT FOODS INC COM
26,476

 
927

UNITED STS STL CORP NEW COM
144,000

 
1,008

UNITEDHEALTH GROUP INC COM
12,191

 
1,404

UNVL DISPLAY CORP COM
13,128

 
644

US BANCORP
9,901

 
397

VAIL RESORTS INC COM
10,495

 
1,312

VALSPAR CORP COM
79,157

 
6,200

VANTIV INC COM
24,311

 
1,144

VASCO DATA SEC INTL INC COM
89,958

 
1,394

VERIZON COMMUNICATIONS COM
64,943

 
3,245

VERTEX PHARMACEUTICALS INC COM
23,550

 
2,137

VIAD CORP COM NEW
24,249

 
715

VISA INC COM CL A STK
155,700

 
11,598

VISTEON CORP COM NEW COM NEW
10,483

 
701

VOXX INTL CORP CL A CL A
178,772

 
767

WAGEWORKS INC COM USD0.001
150,076

 
6,714

WALT DISNEY CO
46,042

 
4,412

WASTE CONNECTIONS INC COM
129,109

 
7,743

WATERS CORP COM
3,392

 
411

WAYFAIR INC CL A CL A
18,854

 
852

WEBMD HEALTH CORP COMMON STOCK
22,182

 
1,134

WEBSTER FNCL CORP WATERBURY CONN COM
28,366

 
941

WEIGHT WATCHERS INTL INC NEW COM
34,137

 
433

WELLS FARGO & CO NEW COM STK
62,621

 
3,145

WESCO AIRCRAFT HOLDINGS INC
487,648

 
5,505

WESTLAKE CHEM CORP COM STK
6,892

 
313

WEX INC COM
16,136

 
1,172

WILLIS TOWERS WATSON PLC COM USD0.000115
12,488

 
1,429

WRIGHT MEDICAL GROUP NV EUR0.03
73,513

 
1,466

WYNDHAM WORLDWIDE CORP COM STK
74,988

 
4,867

XILINX INC COM
116,267

 
5,845

XYLEM INC COM
5,779

 
208

ZELTIQ AESTHETICS INC COM
19,930

 
463

ZENDESK INC COM
30,841

 
679

TOTAL OTHER EQUITY SECURITIES
 
 
1,069,410

MUTUAL FUNDS
 
 


AMERICAN EUROPACIFIC GRTH-R6
 
 
471,909

PIMCO FDS PAC INVT MGMT SER ALL AST FD INSTL CL
 
 
584,122

TOTAL MUTUAL FUNDS
 
 
1,056,031

BONDS
 
 


21ST CENTY FOX AMER INC 4.75% DUE 09-15-2044 REG
 
 
801

ABBVIE INC FIXED 1.8% DUE 05-14-2018
 
 
2,107

ABBVIE INC FIXED 4.5% DUE 05-14-2035
 
 
313

ACTAVIS FDG SCS 3% DUE 03-12-2020
 
 
1,717

ACTAVIS FDG SCS 4.55% DUE 03-15-2035
 
 
756

ALCOA INC 6.15% DUE 08-15-2020
 
 
1,334

ALLY AUTO 1.49% DUE 11-15-2019
 
 
443

ALLY AUTO 1.84% DUE 06-15-2020
 
 
634

ALLY AUTO RECEIVABLES SER 15-1 A3 1.39% 09-16-2019
 
 
1,042

AMERICAN INTERNATIONAL GROUP INC BNDS 4.8% DUE 07-10-2045 REG
 
 
762


20

Table of Contents

AMERICREDIT 1.7% DUE 07-08-2020
 
 
516

AMERICREDIT 1.92% DUE 11-08-2019
 
 
449

AMERICREDIT 2.89% DUE 01-10-2022
 
 
731

AMERICREDIT AUTOMOBILE RECEIVABLES TR 2016-1 NT CL A-2-B 06-10-2019 REG
 
 
2,040

AMERICREDIT FLTG RT 1.188% DUE 04-08-2019
 
 
1,689

AMGEN INC 4.4% 05-01-2045
 
 
106

ANADARKO PETE CORP 4.5% DUE 07-15-2044
 
 
359

ANHEUSER-BUSCH 1.9% DUE 02-01-2019
 
 
2,747

ANHEUSER-BUSCH 2.65% DUE 02-01-2021
 
 
3,048

ANHEUSER-BUSCH 4.7% DUE 02-01-2036
 
 
796

ANHEUSER-BUSCH 4.9% DUE 02-01-2046
 
 
1,308

ASTRAZENECA PLC 2.375% DUE 11-16-2020
 
 
2,753

AT&T INC 4.3 DUE 12-15-2042
 
 
429

AT&T INC 4.5% DUE 05-15-2035
 
 
258

BA CR CARD TR 1.36% DUE 09-15-2020
 
 
1,120

BANK AMER CORP 1.95% DUE 05-12-2018
 
 
1,484

BANK AMER CORP 2.625% DUE 10-19-2020
 
 
1,666

BANK AMER CORP 3.875% DUE 08-01-2025
 
 
550

BK AMER N A TRANCHE # 2.05% 12-07-2018
 
 
3,807

BSTN PPTYS LTD 3.65% DUE 02-01-2026
 
 
1,121

BURLINGTON NORTHN SANTA FE LLC 5.15 09-01-2043
 
 
1,178

CA REP AUTO 1.62% DUE 11-15-2019
 
 
1,211

CA REP AUTO RECEIVABLES TR 2015-2 CL A3 1.31% DUE 08-15-2019
 
 
2,180

CA REP SER 2014-2 CL A4 1.57 DUE 12-16-2019
 
 
1,690

CAPITAL ONE MULTI-ASSET EXECUTION TR 2007-5 NT CL A FLTG 07-15-2020 BEO
 
 
1,648

CAPITAL ONE NATL ASSN MCLEAN VA 1.65% DUE 02-05-2018 REG
 
 
2,286

CARFINANCE CAP 1.46% DUE 12-17-2018
 
 
21

CARMAX AUTO OWNER 1.56% DUE 11-16-2020
 
 
2,015

CARMAX AUTO OWNER 1.8% DUE 03-15-2021
 
 
1,257

CDN NAT RES LTD 6.75% DUE 02-01-2039
 
 
91

CDN PAC RY CO NEW 6.125% DUE 09-15-2115
 
 
288

CENOVUS ENERGY INC 3 DUE 08-15-2022
 
 
2,123

CHARTER 3.579% DUE 07-23-2020
 
 
1,590

CHASE ISSUANCE TR 1.59% DUE 02-18-2020
 
 
1,721

CHEVRON CORP NEW 2.419% DUE 11-17-2020
 
 
967

CITIGROUP INC 4.4% DUE 06-10-2025
 
 
1,096

CITIGROUP INC 4.45% DUE 09-29-2027
 
 
321

CITY OF HOPE 5.623% DUE 11-15-2043
 
 
662

CLEV CLINIC FNDTN 4.858% DUE 01-01-2114
 
 
415

CMO BANC AMER COML MTG TR 2006-6 PASSTHRU CTF CL A-3 5.369 10-10-2045 REG
 
 
86

CMO BANC OF AMERICA COMM MTG TST SER 2015-UBS7 CL A4 3.705% 09-15-2048
 
 
293

CMO COMM 2015-CCRE26 MTG TR COML MTG PASSTHRU CTF CL A-4 3.63% DUE 10-10-48
 
 
345

CMO CR SUISSE 1ST BSTN MTG SECS CORP 2003-19 CL I-A-19 5.25 08-25-2033
 
 
1,224

CMO CSAIL 2016-C5 COML MTG TR PASSTHRU CTF CL A-5 3.7567 DUE 11-15-25 REG
 
 
504

CMO J P MORGAN MTG TR 2005-A1 MTG PASSTHRU CTF CL 6-T-1 DUE 02-25-2035 REG
 
 
2,149


21

Table of Contents

CMO LB-UBS COML MTG TR 2006-C7 COML MTG PASSTHRU CTF CL A-2 5.3 11-15-2021 REG
 
 
276

CMO RESDNTL ACCREDIT LNS INC MTG PASS THSER 2003-QS7 CL A-2 4.75 4-25-2033 BEO
 
 
299

CMO WELLS FARGO MTG BACKED SECS 2004-EE TR SER 2004-EE CL-2A1 DUE 12-25-2034 REG
 
 
1,726

COMCAST CORP NEW 4.2% DUE 08-15-2034
 
 
1,490

COMM 2013-CCRE11 3.983% DUE 10-10-2046
 
 
806

COMM 2015-PC1 MTG 3.62% DUE 07-10-2050
 
 
376

CONOCOPHILLIPS CO 4.15% DUE 11-15-2034
 
 
182

COOPERATIEVE 2.5% DUE 01-19-2021
 
 
970

CPS AUTO 1.21% DUE 08-15-2018
 
 
53

CPS AUTO 1.54% DUE 07-16-2018
 
 
86

CSAIL 2015-C2 COML 3.504% DUE 06-15-2057
 
 
137

CSAIL 2015-C4 COML 3.8079% DUE 11-15-2048
 
 
600

CVS HEALTH CORP 4.875% DUE 07-20-2035
 
 
879

CVS HEALTH CORP 5.125% DUE 07-20-2045
 
 
391

DEVON ENERGY CORP 3.25% DUE 05-15-2022
 
 
421

DIRECTV HLDGS LLC 5.15% DUE 03-15-2042
 
 
266

DISCOVER CARD 1.64% DUE 07-15-2021
 
 
1,306

DISCOVER CARD 1.9% DUE 10-17-2022
 
 
1,057

DISNEY WALT CO NEW 2.3% DUE 02-12-2021
 
 
2,780

DOMINION GAS HLDGS 2.5% DUE 12-15-2019
 
 
647

DOMINION GAS HLDGS 4.6% DUE 12-15-2044
 
 
179

DOMINION RES INC 1.9% DUE 06-15-2018
 
 
1,193

DR AUTO .93000000715% DUE 12-15-2017
 
 
761

DR AUTO 1.23% DUE 06-15-2018
 
 
2,043

DT AUTO OWNER TR 1.06% DUE 09-17-2018
 
 
92

ENCANA CORP 6.625% DUE 08-15-2037
 
 
367

ENTERPRISE PRODS 5.1% DUE 02-15-2045
 
 
330

ENTERPRISE PRODS FIXED 4.9% DUE 05-15-2046
 
 
296

EXELON CORP 1.55% DUE 06-09-2017
 
 
983

EXELON CORP 5.625% DUE 06-15-2035
 
 
134

EXETER AUTOMOBILE 1.06% DUE 08-15-2018
 
 
16

EXETER AUTOMOBILE 1.16% DUE 01-15-2019
 
 
891

EXETER AUTOMOBILE 1.29% DUE 05-15-2018
 
 
26

FED HOME LN MTG CORP GOLD POOL# V80169 3DUE 07-01-2043
 
 
683

FEDERAL HOME LN MTG CORP POOL #A93093 4.5% 07-01-2040 BEO
 
 
3,187

FEDERAL HOME LN MTG CORP POOL #A95497 4.5% 12-01-2040 BEO
 
 
294

FEDERAL HOME LN MTG CORP POOL #C04664 3%03-01-2043 BEO
 
 
873

FEDERAL HOME LN MTG CORP POOL #G05964 4.5% 08-01-2040 BEO
 
 
113

FEDERAL HOME LN MTG CORP POOL #G07550 3%08-01-2043 BEO
 
 
123

FEDERAL HOME LN MTG CORP POOL #G08537 3%07-01-2043 BEO
 
 
82

FEDERAL HOME LN MTG CORP POOL #G08540 3%08-01-2043 BEO
 
 
352

FEDERAL HOME LN MTG CORP POOL #G60172 4.5% 09-01-2043 BEO
 
 
1,907

FEDERAL HOME LN MTG CORP POOL #Q16915 3%04-01-2043 BEO
 
 
238

FEDERAL HOME LN MTG CORP SER K040 CL A-2 3.241% 09-25-2024
 
 
701

FEDERAL NATL MTG ASSN GTD MTG POOL #AH0951 4.5% 12-01-2040 BEO
 
 
123

FEDERAL NATL MTG ASSN GTD MTG POOL #AH7036 4.5% 03-01-2041 BEO
 
 
91


22

Table of Contents

FEDERAL NATL MTG ASSN GTD MTG POOL #AI1886 4.5% 05-01-2041 BEO
 
 
333

FEDERAL NATL MTG ASSN GTD MTG POOL #AI3506 4.5% 06-01-2041 BEO
 
 
181

FEDERAL NATL MTG ASSN GTD MTG POOL #AJ2212 4.5% 10-01-2041 BEO
 
 
157

FEDERAL NATL MTG ASSN GTD MTG POOL #AL0393 4.5% 06-01-2041 BEO
 
 
137

FEDERAL NATL MTG ASSN GTD MTG POOL #AL1568 4.5% 01-01-2042 BEO
 
 
21

FEDERAL NATL MTG ASSN GTD MTG POOL #AL2302 4.5% 08-01-2041 BEO
 
 
114

FEDERAL NATL MTG ASSN GTD MTG POOL #AL3484 4.5% 10-01-2042 BEO
 
 
365

FEDERAL NATL MTG ASSN GTD MTG POOL #AL6983 3.5% 07-01-2045 BEO
 
 
1,562

FEDERAL NATL MTG ASSN GTD MTG POOL #AL7518 3.5% 10-01-2045 BEO
 
 
2,400

FHLMC GOLD J10360 4 07-01-2024
 
 
243

FHLMC GOLD POL#V80006 3 04-01-2043
 
 
120

FHLMC GOLD Q02818 4.5% DUE 08-01-2041
 
 
637

FHLMC GOLD Q17034 3 03-01-2043
 
 
213

FHLMC GOLD Q35585 4 08-01-2045
 
 
1,815

FHLMC GOLD Q36307 4 09-01-2045
 
 
2,724

FHLMC GOLD SINGLE FAMILY 3% 30 YEARS SETTLES FEBRUARY
 
 
4,157

FHLMC GOLD SINGLE FAMILY 3.5% 30 YEARS SETTLES FEBRUARY
 
 
10,997

FHLMC GOLD SINGLE FAMILY 4% 30 YEARS SETTLES FEBRUARY
 
 
3,091

FHLMC MTN 6.25 07-15-2032
 
 
1,296

FHLMC MULTICLASS SER K036 CL A2 FLT RT 10-25-2023
 
 
174

FHLMC MULTICLASS SER K048 CL A2 VAR RT 06-25-2025
 
 
542

FHLMC MULTICLASS TRANCHE 00288 3.00999999046 07-25-2025
 
 
412

FHLMC POOL #K041 3.17100000381 10-25-2024
 
 
711

FHLMC PREASSIGN 00074 2.375 01-13-2022
 
 
2,485

FLAGSHIP CR AUTO 1.21% DUE 04-15-2019
 
 
277

FLAGSHIP CR AUTO 1.43% DUE 12-16-2019
 
 
78

FLAGSHIP CR AUTO 1.98000001907% DUE 10-15-2020
 
 
967

FLAGSHIP CR AUTO 2.38% DUE 10-15-2020
 
 
483

FNMA 2.625% 09-06-2024
 
 
1,344

FNMA POOL #310104 5.5% 08-01-2037 BEO
 
 
1,555

FNMA POOL #310151 5.5% 11-01-2034 BEO
 
 
950

FNMA POOL #725223 5.5% 03-01-2034 BEO
 
 
894

FNMA POOL #735212 5% 12-01-2034 BEO
 
 
236

FNMA POOL #890489 4.5% 11-01-2041 BEO
 
 
549

FNMA POOL #AB1345 4.5% 08-01-2040 BEO
 
 
779

FNMA POOL #AB2641 4.5% 05-01-2041 BEO
 
 
36

FNMA POOL #AB3274 4.5% 07-01-2041 BEO
 
 
65

FNMA POOL #AE0201 5.5% 08-01-2037 BEO
 
 
715

FNMA POOL #AE0504 4.5% 11-01-2040 BEO
 
 
4,080

FNMA POOL #AE6344 4.5% 11-01-2040 BEO
 
 
100

FNMA POOL #AQ0535 3% 11-01-2042 BEO
 
 
6,630

FNMA POOL #AS5582 4% 08-01-2045 BEO
 
 
1,812

FNMA POOL #AS5828 4% 09-01-2045 BEO
 
 
1,822

FNMA POOL #AS5829 4% 09-01-2045 BEO
 
 
1,818


23

Table of Contents

FNMA POOL #AS6012 4% 10-01-2045 BEO
 
 
2,273

FNMA POOL #AS6135 4% 11-01-2045 BEO
 
 
1,919

FNMA POOL #AS6151 3% 11-01-2030 BEO
 
 
1,585

FNMA POOL #AS6152 3% 11-01-2030 BEO
 
 
1,581

FNMA POOL #AS6196 3.5% 11-01-2045 BEO
 
 
2,515

FNMA POOL #AS6197 3.5% 11-01-2045 BEO
 
 
2,389

FNMA POOL #AS6285 4% 12-01-2045 BEO
 
 
2,798

FNMA POOL #AS6400 4% 12-01-2045 BEO
 
 
2,473

FNMA POOL #AS6524 3.5% 01-01-2046 BEO
 
 
2,465

FNMA POOL #AT2011 3% DUE 04-01-2043 REG
 
 
160

FNMA POOL #AT2720 3% DUE 05-01-2043 REG
 
 
270

FNMA POOL #AY8403 4% 08-01-2045 BEO
 
 
2,751

FNMA POOL #AZ0869 4% 07-01-2045 BEO
 
 
1,812

FNMA POOL #AZ4782 4% 10-01-2045 BEO
 
 
208

FNMA POOL #AZ4788 4% 10-01-2045 BEO
 
 
2,330

FNMA SINGLE FAMILY MORTGAGE 2.5% 15 YEARS SETTLES FEBRUARY
 
 
8,154

FNMA SINGLE FAMILY MORTGAGE 3% 30 YEARS SETTLES FEBRUARY
 
 
7,043

FNMA SINGLE FAMILY MORTGAGE 3.5% 15. YEARS SETTLES MARCH
 
 
3,122

FNMA SINGLE FAMILY MORTGAGE 3.5% 30 YEARS SETTLES FEBRUARY
 
 
12,897

FNMA SINGLE FAMILY MORTGAGE 4% 30 YEARS SETTLES FEBRUARY
 
 
19,503

FNMA SINGLE FAMILY MORTGAGE 4.5% 30 YEARS SETTLES MARCH
 
 
5,289

FORD CR AUTO OWNER 1.40999996662% DUE 02-15-2020
 
 
696

FORD CR AUTO OWNER 1.6% DUE 06-15-2021
 
 
979

FORD CR AUTO OWNER 1.74% DUE 02-15-2021
 
 
1,149

FORD CR AUTO OWNER TR 2015-B CL A4 1.58% DUE 08-15-2020
 
 
2,049

FORD MTR CR CO LLC 1.461% DUE 03-27-2017
 
 
2,918

FORD MTR CR CO LLC 3.2% DUE 01-15-2021
 
 
1,313

GEN MTRS FINL CO 3.1% DUE 01-15-2019
 
 
622

GEN MTRS FINL CO FIXED 2.625% DUE 07-10-2017
 
 
1,490

GENERAL MTRS CO 6.25% DUE 10-02-2043
 
 
615

GILEAD SCIENCES 4.75% DUE 03-01-2046
 
 
1,174

GNMA II JUMBOS 3% 30 YEARS SETTLES FEBRUARY
 
 
9,087

GNMA II JUMBOS 3.5 30 YEARS SETTLES FEB
 
 
24,184

GNMA II JUMBOS 4% 30 YEARS SETTLES FEBRUARY
 
 
4,837

GNMA POOL #MA3377 4% 01-20-2046 BEO
 
 
4,240

GOLDMAN SACHS 4.75% DUE 10-21-2045
 
 
780

GOLDMAN SACHS GROUP INC SR NT 3.625 01-22-2023
 
 
934

HALLIBURTON CO 2.7% DUE 11-15-2020
 
 
885

HEINZ H J CO 1.6% DUE 06-30-2017
 
 
1,604

HONDA AUTO 1.23% DUE 09-23-2019
 
 
1,263

HONDA AUTO 1.56% DUE 10-18-2021
 
 
911

HYUNDAI AUTO 1.05% DUE 04-15-2019
 
 
398

HYUNDAI AUTO 1.46% DUE 02-18-2020
 
 
418

HYUNDAI AUTO RECEIVABLES TRUST SERIES 2015-B CLASS A2A 0.69% 04-16-2018
 
 
2,251

IL ST TAXABLE-PENSION 5.1 DUE 06-01-2033BEO TAXABLE SINKING FD 06-01-2024 N/C