POD For GS VIP Hedge Fund Indices (Q3 2012)

Weighted by No and Value
Q3 Weights
Shorts
Consumer Discretionary
-17.7%
Consumer Staples
-13.5%
Energy
-11.6%
Financials
-7.0%
Health Care
-17.7%
Industrials
-6.7%
Information Technology
-13.0%
Materials
-3.4%
Telecommunications Services
-8.2%
Utilities
-1.2%
TOTALS
-100.00%
Q3 Performance
Consumer Staples
Energy
Financials
Health Care
Industrials
Materials
Utilities
Returns ( Gross )
Shorts
-1.5%
0.2%
-1.3%
-0.6%
-1.3%
-0.2%
1.0%
-0.2%
-0.3%
0.0%
-4.24%
Longs
17.7%
2.4%
7.7%
17.9%
5.9%
5.8%
35.7%
4.4%
2.5%
0.0%
100.00%
Net
0.0%
-11.1%
-3.9%
10.9%
-11.9%
-0.9%
22.7%
1.0%
-5.7%
-1.2%
0.00%
S&P500
11.0%
11.0%
11.0%
14.5%
12.0%
10.0%
20.0%
4.0%
3.0%
3.5%
100.00%
Relative
-11.0%
-22.1%
-14.9%
-3.6%
-23.9%
-10.9%
2.7%
-3.0%
-8.7%
-4.7%
-100.00%
Equally Weighted
Q3 Weights
Shorts
-18.0%
Consumer Staples
-14.0%
Energy
-12.0%
Financials
-10.0%
Health Care
-18.0%
Industrials
-8.0%
-8.0%
Materials
-4.0%
Telecommunications Services-6.0%
Utilities
-2.0%
TOTALS
-100.00%
Longs
22.0%
4.0%
12.0%
16.0%
6.0%
6.0%
24.0%
6.0%
4.0%
0.0%
100.00%
Net
4.0%
-10.0%
0.0%
6.0%
-12.0%
-2.0%
16.0%
2.0%
-2.0%
-2.0%
0.00%
S&P500
11.0%
11.0%
11.0%
14.5%
12.0%
10.0%
20.0%
4.0%
3.0%
3.5%
100.00%
Relative
-7.0%
-21.0%
-11.0%
-8.5%
-24.0%
-12.0%
-4.0%
-2.0%
-5.0%
-5.5%
-100.00%
Longs
2.0%
0.1%
0.6%
1.5%
0.5%
0.0%
4.9%
0.9%
0.2%
0.0%
10.62%
Net
0.5%
0.3%
-0.7%
0.9%
-0.9%
-0.2%
5.9%
0.7%
-0.1%
0.0%
6.38%
S&P500
0.7%
0.4%
1.1%
0.9%
0.7%
0.3%
1.4%
0.2%
0.0%
0.0%
5.76%
Relative
-0.2%
-0.1%
-1.8%
-0.1%
-1.5%
-0.5%
4.4%
0.5%
-0.1%
0.0%
0.62%
Q3 Performance
Shorts
-1.5%
Consumer Staples
0.1%
Energy
-1.4%
Financials
-0.9%
Health Care
-1.1%
Industrials
-0.3%
0.0%
Materials
-0.3%
Utilities
0.0%
Returns ( Gross )
-5.67%
Longs
2.3%
0.2%
1.0%
1.5%
0.4%
0.2%
2.5%
1.1%
0.3%
0.0%
9.61%
Net
0.9%
0.3%
-0.4%
0.6%
-0.7%
-0.1%
2.5%
0.8%
0.1%
0.0%
3.94%
S&P500
0.7%
0.4%
1.1%
0.9%
0.7%
0.3%
1.4%
0.2%
0.0%
0.0%
5.76%
Relative
0.1%
-0.1%
-1.6%
-0.3%
-1.4%
-0.4%
1.0%
0.6%
0.1%
0.0%
-1.83%
Longs
9.61%
Net
3.94%
S&P500
5.76%
Relative
-1.83%
Weighted by No and Value

Q3 Performance
Returns ( Gross )
Equally Weighted
Shorts
-4.24%
Longs
10.62%
Net
6.38%
S&P500
5.76%
Relative
0.62%
Q3 Performance
Returns ( Gross )
Shorts
-5.67%
Fixed Fees 2%
Performance Fees 20%
Returns ( Net )
0.50%
1.28%
4.61%
Fixed Fees 2%
Performance Fees 20%
Returns ( Net )
0.50%
0.79%
2.65%
Long Short Equities Hedge Fund Index

Emanager Hedge Fund Index
3.27%
3.73%
Long Short Equities Hedge Fund Index

Emanager Hedge Fund Index
3.27%
3.73%
HYPOTHETICAL PORTFOLIO
NO
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
CODE
INTC
VZ
GILD
CVX
DIS
T
F
WMT
CAT
ISRG
COP
PG
HPQ
AMGN
BMY
TWX
MO
MRK
PXD
MCD
DD
ORCL
KO
CMCSA
SYY
CTL
HD
DE
MET
ORLY
AVB
CERN
STX
RRC
TWC
HNZ
MCO
LLY
MMM
MTB
SWN
NEM
NEE
AZO
WAG
LMT
HAL
PGR
AET
SNAME
WEIGHT 30-Jun-12 30-Sep-12
-7.34%
26.65
22.66
Intel Corp.
-3.58%
44.44
45.57
Verizon Communications
-3.41%
51.28
66.33
Gilead Sciences
-3.07%
105.5
116.56
Chevron Corp.
-3.07%
48.5
52.28
Walt Disney
-2.90%
35.66
37.7
AT&T Inc.
9.59
9.86
Ford Motor Co. -2.73%
69.72
73.8
Wal-Mart Stores -2.73%
-2.56%
84.91
86.04
Caterpillar
553.79
495.63
Intuitive Surgical -2.56%
55.88
57.18
ConocoPhillips -2.56%
61.25
69.36
Procter & Gamble-2.39%
-2.39%
20.11
17.06
Hewlett-Packard
-2.22%
72.91
84.29
Amgen Inc.
-2.22%
35.95
33.75
Bristol-Myers Squibb
-2.22%
38.5
45.34
Time Warner
-2.22%
34.55
33.39
Altria Group
41.75
45.1
Merck & Co Inc -2.05%
-2.05%
88.21
104.4
Pioneer Natural Resources
88.53
91.75
McDonald's Corp. -2.05%
-2.05%
50.57
50.27
E.I. DuPont
-1.88%
29.7
31.46
Oracle Corp.
78.19
37.93
Coca-Cola Co. -1.88%
-1.88%
31.97
35.74
Comcast Corp.
-1.71%
29.81
31.27
Sysco Corp.
-1.71%
39.49
40.4
CenturyLink
-1.71%
52.99
60.37
Home Depot
-1.54%
80.87
82.47
Deere & Co.
-1.54%
30.85
34.46
MetLife Inc.
-1.54%
83.77
83.62
O'Reilly Automotive
-1.54%
141.48
135.99
AvalonBay Communities
-1.54%
82.66
77.39
Cerner Corp.
-1.37%
24.73
30.96
Seagate Technology
61.87
69.87
Range Resources-1.37%
-1.37%
82.1
95.06
Time Warner Cable
-1.37%
54.38
55.95
H.J. Heinz Co.
-1.37%
36.55
44.17
Moody's Corp.
-1.37%
42.91
47.41
Eli Lilly & Co.
-1.37%
89.6
92.42
3M Co.
82.57
95.16
M&T Bank Corp. -1.37%
-1.37%
31.93
34.78
Southwestern Energy
48.51
56.02
Newmont Mining -1.37%
-1.19%
68.81
70.33
NextEra Energy Inc
-1.19%
367.17
369.67
AutoZone Inc.
-1.19%
29.58
36.44
Walgreen Co.
-1.19%
87.08
93.38
Lockheed Martin
-1.19%
28.39
33.69
Halliburton
20.83
20.74
Progressive Corp.-1.19%
-1.19%
38.77
39.6
Aetna Inc.
RETS
-15%
3%
29%
10%
8%
6%
3%
6%
1%
-11%
2%
13%
-15%
16%
-6%
18%
-3%
8%
18%
4%
-1%
6%
-51%
12%
5%
2%
14%
2%
12%
0%
-4%
-6%
25%
13%
16%
3%
21%
10%
3%
15%
9%
15%
2%
1%
23%
7%
19%
0%
2%
CLASS
Telecommunications Service
Health Care
Energy
Consumer Staples
Industrials
Health Care
Energy
Consumer Staples
Health Care
Health Care
Consumer Staples
Health Care
Energy
Materials
Consumer Staples
Consumer Staples
Industrials
Financials
Financials
Health Care
Energy
Consumer Staples
Financials
Health Care
Industrials
Financials
Energy
Materials
Utilities
Consumer Staples
Industrials
Energy
Financials
Health Care
50 MYL
Mylan Inc.
-1.19%
-100.00%
21.37
24.37
14% Health Care

-4.24%
TOTAL Main Sector ("GICS")

Information
PORT
Technology
Actual
-4.24%
1.0%
-17.75%
-1.46%
Consumer Staples
-13.48%
0.16%
Energy
-11.60%
-1.28%
Financials
-7.00%
-0.61%
Health Care
-17.75%
-1.35%
Industrials
-6.66%
-0.19%
-12.97%
1.01%
Materials
-3.41%
-0.20%
Telecommunications
-8.19%
Services-0.30%
Utilities
-1.19%
-0.03%
-4.24%
PODInformation
PORT
Technology
Mean
5.66%
0.0%
Std Dev
1.1%
0.4%
Q1
6.4%
0.4%
Min
1.8%
-0.9%
Median
5.7%
0.1%
Max
8.1%
1.0%
Q3
5.0%
-0.4%
POD Shorts
1.00
0.90
0.80
0.70
0.60
0.50
0.40
Bmk, 5.76%
Avg POD,
5.66%
0.30
0.20
0.10
0.00
4.0%
6.0%
8.0%
10.0%
1.00
0.99
0.97
0.95
0.90
0.85
0.80
0.75
0.70
0.65
0.60
0.55
0.50
0.45
0.40
0.35
0.30
0.25
0.20
0.15
0.10
0.05
0.03
0.00
12.0%
9.6%
8.1%
7.7%
7.4%
7.0%
6.8%
6.6%
6.4%
6.2%
6.1%
5.9%
5.8%
5.7%
5.5%
5.4%
5.2%
5.1%
4.9%
4.8%
4.6%
4.3%
3.9%
3.6%
2.4%
10%
5%
0%
Actual
TOTAL
PORT IT
-4.2% 1.01%
POD
Mean
PORT Information Technology

5.7%
0.0%
Weights
Std Dev
Q1
Min
Median
Max
Q3
1.1%
6.4%
1.8%
5.7%
8.1%
5.0%
0.4%
0.4%
-0.9%
0.1%
1.0%
-0.4%
Min (pos)
First (neg)
Third Quartile
Second
Third
First Quartile
1.8%
0.0%
3.1%
0.7%
0.8%
1.7%
0.0%
-0.9%
-0.4%
0.5%
0.3%
0.6%
Market
Portfolio
0.0%
0.0%
21%
-13%
SECT SIZE STYLE

Health Care
Consumer Staples
Industrials
Health Care
Consumer Staples
Health Care
Health Care
Consumer Staples
Health Care
Materials
Consumer Staples
Consumer Staples
Industrials
Financials
Financials
Health Care
Consumer Staples
Financials
Health Care
Industrials
Financials
Materials
Consumer Staples
Industrials
Financials
Health Care
L
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
U
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
Health Care
-100
100
Main Sector ("GICS")

munications Services
Health
Consumer
Care Energy
Discretionary
Consumer Staples
IndustrialsMaterials
Financials
-0.6% -0.2% -1.3% -1.5% -1.3% -0.2% -0.3%
0.2%
< Actual perf attribution - will p
munications Services
Health
Consumer
Care Energy
Discretionary
Consumer Staples
IndustrialsMaterials
Financials
0.2% 1.1%
1.4% 1.5% -0.1% 0.3%
0.3% 0.86%
0.1% 0.5%
0.4% 0.4% 0.7% 0.1%
0.2% 0.30%
0.3% 1.5%
1.7% 1.7% 0.4% 0.3%
0.5% 1.07%
0.0% -0.3%
0.3% 0.6% -1.9% 0.0%
0.0% 0.06%
0.2% 1.1%
1.4% 1.5% -0.1% 0.3%
0.3% 0.88%
0.4% 2.3%
2.6% 2.8% 1.7% 0.6%
0.7% 1.68%
0.2% 0.8%
1.2% 1.2% -0.6% 0.2%
0.1% 0.64%
<POD5 Array function

<Note you can add or delete t
< eg add MICRO to size vecto
<you can omit types on the sa
< Note array formula use CTR
Market
10% Avg POD

5.66% 0.50
5.66%
0
First Quartile
0.5 5.66%
0.5
0
5%
Third Quartile
Actual Perf
-4.24% 0.20
0% -4.24%
0
0.20 #####
Return
0.20Actual
0.00%
10%
0%
Bmk
5.76% 0.50
5.76%
0
0.50 5.76%
0.50 0.00%
Portfolio
-10%
PORT
IT
-20%
FIN
IND
HCARE
CONS
DISC
ENRGY
MTRLS

FIN
IND
HCARE CONS DISC
ENRGYMTRLS TELE
CONS DUR
-0.61% ##### -1.35% -1.46% -1.28% -0.20% -0.30% 0.16%
Telecommunications
Health Care
Energy
Services
Consumer
Consumer
Discretionary
Industrials
Staples
MaterialsFinancials
0.2% 1.1%
1.4% 1.5% -0.1% 0.3%
0.3%
0.9%
TELE
CONS
DUR
-30%
0.1% 0.5%
0.3% 1.5%
0.0% -0.3%
0.2% 1.1%
0.4% 2.3%
0.2% 0.8%
0.4%
1.7%
0.3%
1.4%
2.6%
1.2%
0.4% 0.7%
1.7% 0.4%
0.6% -1.9%
1.5% -0.1%
2.8% 1.7%
1.2% -0.6%
0.1%
0.3%
0.0%
0.3%
0.6%
0.2%
0.2%
0.5%
0.0%
0.3%
0.7%
0.1%
0.3%
1.1%
0.1%
0.9%
1.7%
0.6%
0.0% 0.0%
0.0% -0.3%
0.1% 0.8%
0.1% 0.3%
0.1% 0.4%
0.1% 0.8%
0.3%
0.0%
0.9%
0.2%
0.3%
0.9%
0.6% 0.0%
0.0% -1.9%
0.7% -0.6%
0.3% 0.5%
0.2% 0.5%
1.0% 1.3%
0.0%
0.0%
0.2%
0.1%
0.1%
0.2%
0.0%
0.0%
0.1%
0.2%
0.1%
0.3%
0.1%
0.0%
0.6%
0.2%
0.2%
0.6%
15%
-7%
12%
-18%
11%
-18%
4%
-3%
3%
-8%
11%
-13%
10%
-7%
11%
-12%
100.0%
-98.8%
< Actual perf attribution - will probably build this into v2

<Note you can add or delete types at runtime
< eg add MICRO to size vector (L4:L230
<you can omit types on the same basis
< Note array formula use CTRL-SHIFT-ENTER
NO
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
CODE
AAPL
GOOG
AIG
MSFT
PCLN
QCOM
C
JPM
ESRX
V
PFE
LMCA
YHOO
APC
GM
TYC
DG
EQIX
LYB
NWSA
AMZN
DLPH
EBAY
LINTA
VC
WFC
COF
CSCO
FCX
SLB
ABX
BAC
CHTR
HTZ
JNJ
MDLZ
SBAC
BP
BRK-B
IBM
MA
C
DTV
EMC
GE
MPC
OXY
PM
SIX
SNAME
9.86%
Apple Inc.
584
667.1
6.88%
Google Inc.
580.07
754.5
6.52%
American Intl Group
32.09
32.79
3.53%
Microsoft Corp.
30.59
29.76
2.81%
priceline.com
664.52
619.07
QUALCOMM Inc. 2.71%
55.68
62.47
2.62%
Citigroup Inc.
27.41
32.72
JPMorgan Chase 2.44%
35.73
40.48
2.35%Co
Express Scripts Holding
55.83
62.63
2.35%
Visa Inc.
123.63
134.28
2.26%
Pfizer Inc.
23
24.85
Liberty Media Corp2.08%
87.91
104.08
1.99%
Yahoo! Inc.
15.83
15.98
1.90%
Anadarko Petroleum
66.2
69.92
General Motors Co.1.90%
19.72
22.75
Tyco International 1.90%
52.85
56.26
1.81%
Dollar General Corp.
54.39
51.54
1.81%
Equinix Inc.
175.65
206.05
1.81% N.V. 40.27
LyondellBasell Industries
51.66
1.81%
News Corp.
22.29
24.51
1.72%
Amazon.com
228.35
254.32
Delphi Automotive 1.72%
PLC
25.5
31
1.72%
eBay Inc.
42.01
48.37
1.63%Interactive
Liberty Interactive Corp.
17.78
Series A 18.5
1.63%
Visteon Corp.
37.5
44.46
Wells Fargo & Co. 1.45%
33.44
34.53
1.36%
Capital One Financial
54.66
57.01
1.36%
Cisco Systems
17.17
19.1
Freeport-McMoRan1.36%
Cp & Gld 34.07
39.58
Schlumberger Ltd. 1.36%
64.91
72.33
Barrick Gold Corp. 1.27%
37.57
41.76
Bank of America 1.27%
8.18
8.83
1.27% Inc. Cl70.87
Charter Communications
A
75.06
1.27%
Hertz Global Holdings
Inc.
12.8
13.73
1
.27%
Johnson & Johnson
67.56
68.91
1.27%
Mondelez Intl
38.62
41.35
1.27%
SBA Communications
Corp. 57.05
62.9
1.18%
BP PLC ADS
40.54
42.36
1.18%
Berkshire Hathaway
83.33
88.2
1.18%
International Bus. Machines
195.58
207.45
1.18%
MasterCard
430.11
451.48
1.09%
CIT Group Inc.
27.41
32.72
1.09%
DIRECTV
48.82
52.44
1.09%
EMC Corp.
25.63
27.27
General Electric 1.09%
20.84
22.71
1
.09%
Marathon Petroleum
44.92
54.59
1.09%
Occidental Petroleum
85.77
86.06
Philip Morris Intl 1.09%
87.26
89.94
1.09%Corp. 54.18
Six Flags Entertainment
58.8
RETS
14%
30%
2%
-3%
-7%
12%
19%
13%
12%
9%
8%
18%
1%
6%
15%
6%
-5%
17%
28%
10%
11%
22%
15%
4%
19%
3%
4%
11%
16%
11%
11%
8%
6%
7%
2%
7%
10%
4%
6%
6%
5%
19%
7%
6%
9%
22%
0%
3%
9%
CLASS
Financials
Industrials
Financials
Financials
Health Care
Health Care
Energy
Industrials
Materials
Financials
Financials
Materials
Energy
Materials
Financials
Health Care
Consumer Staples
Energy
Financials
Financials
Industrials
Energy
Energy
Consumer Staples
50 XOM
Exxon Mobil Corp. 1.09%

100.00%
85.57
91.45
7% Energy
10.62%

Information
PORT
Technology
Actual
10.62%
4.9%
17.74%
1.96%
Consumer Staples2.35%
0.12%
Energy
7.69%
0.63%
Financials
17.92%
1.46%
Health Care
5.88%
0.49%
Industrials
5.79%
0.03%
35.66%
4.85%
Materials
4.43%
0.87%
Telecommunications
2.53%
Services0.20%
Utilities
0.00%
0.00%
10.62%
PODInformation
PORT
Technology
Mean
9.60%
2.5%
Std Dev
0.7%
0.5%
Q1
10.1%
2.8%
Min
7.4%
1.3%
Median
9.6%
2.5%
Max
11.4%
3.8%
Q3
9.1%
2.1%
1.00
POD Longs
1.00
0.90
0.80
0.70
0.60
Bmk, 5.76%
0.50
0.40
0.30
0.20
0.10
0.00
4.0%
6.0%
8.0%
Actual
0.99 Perf,
10.62%
0.97
0.95
0.90
0.85
0.80
0.75
0.70
0.65
0.60
Avg POD,
0.55
9.60%0.50
0.45
0.40
0.35
0.30
0.25
0.20
0.15
10.0% 0.10
0.05
0.03
0.00
12.0%
12.1%
11.2%
10.9%
10.7%
10.5%
10.3%
10.2%
10.1%
9.9%
9.9%
9.8%
9.7%
9.6%
9.5%
9.4%
9.3%
9.2%
9.1%
9.0%
8.9%
8.7%
8.5%
8.3%
7.5%
15%
10%
5%
0%
Actual
TOTAL
PORT IT
10.6% 4.85%
POD
Mean
PORT Information Technology

9.6%
2.5%
Std Dev
Q1
Min
Median
Max
Q3
Weights
0.7%
10.1%
7.4%
9.6%
11.4%
9.1%
0.5%
2.8%
1.3%
2.5%
3.8%
2.1%
Min (pos)
First (neg)
Third Quartile
Second
Third
First Quartile
7.4%
0.0%
1.8%
0.5%
0.4%
1.3%
1.3%
0.0%
0.8%
0.3%
0.3%
1.0%
Market
Portfolio
0.0%
0.0%
21%
36%
SECT SIZE STYLE

Financials
Industrials
Financials
Financials
Health Care
Health Care
Industrials
Materials
Financials
Financials
Materials
Materials
Financials
Health Care
Consumer Staples
Financials
Financials
Industrials
Consumer Staples
L
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
U
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100

Financials
Industrials
Consumer
HealthDiscretionary
Care Telecommunications
Energy
Materials
Consumer
Services Staples
1.5% 0.0%
0.5% 2.0% 0.6% 0.9%
0.2%
0.1%
< Actual perf attribution - will p
Financials
Industrials
Consumer
HealthDiscretionary
Energy
Materials
Consumer
Services Staples
1.5% 0.2%
0.4% 2.3% 1.0% 1.1%
0.3% 0.20%
0.3% 0.2%
0.2% 0.5% 0.3% 0.4%
0.1% 0.09%
1.7% 0.3%
0.6% 2.7% 1.2% 1.4%
0.4% 0.28%
0.6% -0.2%
0.0% 0.9% 0.2% 0.1%
0.0% 0.00%
1.5% 0.2%
0.5% 2.3% 1.0% 1.1%
0.3% 0.20%
2.5% 0.7%
0.9% 3.8% 1.7% 2.2%
0.7% 0.38%
1.3% 0.1%
0.3% 2.0% 0.8% 0.8%
0.2% 0.13%

<Note you can add or delete t
< eg add MICRO to size vecto
<you can omit types on the sa
< Note array formula use CTR
Portfolio
15% Avg POD

9.60% 0.50
9.60%Actual Return
0
0.5First
9.60%
Quartile
10%
0.5Third Quartile
0
Actual Perf
10.62% 0.94
10.62%
0
0.94 #####
0%
0.94 0.00%
Market
5%
15%
Bmk
5.76% 0.50
5.76%
0
0.50 5.76%
0.50 0.00%
PORT
IT
10%
5%
FIN
IND
HCARE
CONS
DISC
ENRGY
MTRLS
TELE

FIN
IND
HCARE CONS DISC
ENRGYMTRLS TELE
CONS DUR
1.46% 0.03% 0.49% 1.96% 0.63% 0.87% 0.20% 0.12%
FinancialsIndustrials
Health Care
Consumer
Energy
Discretionary
MaterialsTelecommunications
Consumer Staples
Services
1.5% 0.2%
0.4% 2.3% 1.0% 1.1%
0.3%
0.2%
CONS
DUR
0%
0.3% 0.2%
1.7% 0.3%
0.6% -0.2%
1.5% 0.2%
2.5% 0.7%
1.3% 0.1%
0.2%
0.6%
0.0%
0.5%
0.9%
0.3%
0.5%
2.7%
0.9%
2.3%
3.8%
2.0%
0.3%
1.2%
0.2%
1.0%
1.7%
0.8%
0.4%
1.4%
0.1%
1.1%
2.2%
0.8%
0.1%
0.4%
0.0%
0.3%
0.7%
0.2%
0.1%
0.3%
0.0%
0.2%
0.4%
0.1%
0.6% 0.0%
0.0% -0.2%
0.6% 0.1%
0.2% 0.1%
0.2% 0.1%
0.8% 0.4%
0.0%
0.0%
0.3%
0.1%
0.1%
0.3%
0.9%
0.0%
1.1%
0.4%
0.3%
1.1%
0.2%
0.0%
0.6%
0.2%
0.2%
0.5%
0.1%
0.0%
0.7%
0.3%
0.3%
0.8%
0.0%
0.0%
0.2%
0.1%
0.1%
0.3%
0.0%
0.0%
0.1%
0.1%
0.1%
0.1%
15%
18%
12%
6%
11%
18%
11%
8%
4%
4%
3%
3%
11%
2%
10%
6%
100.0%
100.0%

3.47%
Contrib to Q3 Return NO CODE

1.40%
1 AAPL
2.07%
2 GOOG
0.14%
3 AIG
-0.10%
4 MSFT
-0.19%
5 PCLN
0.33%
6 QCOM
0.51%
7C
0.32%
8 JPM
0.29%
9 ESRX
0.20%
10 V
0.18%
11 PFE
0.38%
12 LMCA
0.02%
13 YHOO
0.11%
14 APC
0.29%
15 GM
0.12%
16 TYC
-0.09%
17 DG
0.31%
18 EQIX
0.51%
19 LYB
0.18%
20 NWSA
0.20%
21 AMZN
0.37%
22 DLPH
0.26%
23 EBAY
0.07%
24 LINTA
0.30%
25 VC
0.05%
26 WFC
0.06%
27 COF
0.15%
28 CSCO
0.22%
29 FCX
0.16%
30 SLB
0.14%
31 ABX
0.10%
32 BAC
0.07%
33 CHTR
0.09%
34 HTZ
0.03%
35 JNJ
0.09%
36 MDLZ
0.13%
37 SBAC
0.05%
38 BP
0.07%
39 BRK-B
0.07%
40 IBM
0.06%
41 MA
0.21%
42 C
0.08%
43 DTV
0.07%
44 EMC
0.10%
45 GE
0.23%
46 MPC
0.00%
47 OXY
0.03%
48 PM
0.09%
49 SIX
0.07%
50 XOM
1.10%
51 INTC
-0.09%
52 VZ
-1.00%
53 GILD
SNAME
Apple Inc.
9.86%
584
667.1
Google Inc.
6.88%
580.07
754.5
American Intl Group
6.52%
32.09
32.79
Microsoft Corp.
3.53%
30.59
29.76
priceline.com
2.81%
664.52
619.07
QUALCOMM Inc.
2.71%
55.68
62.47
Citigroup Inc.
2.62%
27.41
32.72
JPMorgan Chase
2.44%
35.73
40.48
Express Scripts Holding Co 2.35%
55.83
62.63
Visa Inc.
2.35%
123.63
134.28
Pfizer Inc.
2.26%
23
24.85
Liberty Media Corp
2.08%
87.91
104.08
Yahoo! Inc.
1.99%
15.83
15.98
Anadarko Petroleum
1.90%
66.2
69.92
General Motors Co.
1.90%
19.72
22.75
Tyco International
1.90%
52.85
56.26
1.81%
54.39
51.54
Equinix Inc.
1.81%
175.65
206.05
LyondellBasell Industries N.V. 1.81%
40.27
51.66
News Corp.
1.81%
22.29
24.51
Amazon.com
1.72%
228.35
254.32
Delphi Automotive PLC
1.72%
25.5
31
eBay Inc.
1.72%
42.01
48.37
Liberty Interactive Corp. Interactive
1.63%
Series A17.78
18.5
Visteon Corp.
1.63%
37.5
44.46
Wells Fargo & Co.
1.45%
33.44
34.53
1.36%
54.66
57.01
Cisco Systems
1.36%
17.17
19.1
Freeport-McMoRan Cp & Gld 1.36%
34.07
39.58
Schlumberger Ltd.
1.36%
64.91
72.33
Barrick Gold Corp.
1.27%
37.57
41.76
Bank of America
1.27%
8.18
8.83
Charter Communications Inc. Cl
1.27%
A
70.87
75.06
Hertz Global Holdings Inc.
1.27%
12.8
13.73
Johnson & Johnson
1.27%
67.56
68.91
Mondelez Intl
1.27%
38.62
41.35
SBA Communications Corp. 1.27%
57.05
62.9
BP PLC ADS
1.18%
40.54
42.36
Berkshire Hathaway
1.18%
83.33
88.2
International Bus. Machines 1.18%
195.58
207.45
MasterCard
1.18%
430.11
451.48
CIT Group Inc.
1.09%
27.41
32.72
DIRECTV
1.09%
48.82
52.44
EMC Corp.
1.09%
25.63
27.27
General Electric
1.09%
20.84
22.71
Marathon Petroleum
1.09%
44.92
54.59
1.09%
85.77
86.06
Philip Morris Intl
1.09%
87.26
89.94
Six Flags Entertainment Corp. 1.09%
54.18
58.8
1.09%
85.57
91.45
Exxon Mobil Corp.
-7.34%
26.65
22.66
Intel Corp.
-3.58%
44.44
45.57
-3.41%
51.28
66.33
Gilead Sciences
-0.32%
-0.24%
-0.17%
-0.08%
-0.16%
-0.03%
0.27%
-0.06%
-0.32%
0.36%
-0.35%
0.14%
-0.39%
0.07%
-0.16%
-0.38%
-0.07%
0.01%
-0.11%
0.97%
-0.22%
-0.08%
-0.04%
-0.24%
-0.03%
-0.18%
0.00%
0.06%
0.10%
-0.34%
-0.18%
-0.22%
-0.04%
-0.28%
-0.14%
-0.04%
-0.21%
-0.12%
-0.21%
-0.03%
-0.01%
-0.28%
-0.09%
-0.22%
0.01%
-0.03%
-0.17%
6.38%
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
-0.39% 100
CVX
DIS
T
F
WMT
CAT
ISRG
COP
PG
HPQ
AMGN
BMY
TWX
MO
MRK
PXD
MCD
DD
ORCL
KO
CMCSA
SYY
CTL
HD
DE
MET
ORLY
AVB
CERN
STX
RRC
TWC
HNZ
MCO
LLY
MMM
MTB
SWN
NEM
NEE
AZO
WAG
LMT
HAL
PGR
AET
Chevron Corp.
Walt Disney
AT&T Inc.
Ford Motor Co.
Wal-Mart Stores
Caterpillar
Intuitive Surgical
ConocoPhillips
Procter & Gamble
Hewlett-Packard
Amgen Inc.
Time Warner
Altria Group
Merck & Co Inc
McDonald's Corp.
E.I. DuPont
Oracle Corp.
Coca-Cola Co.
Comcast Corp.
Sysco Corp.
CenturyLink
Home Depot
Deere & Co.
MetLife Inc.
O'Reilly Automotive
Cerner Corp.
Seagate Technology
Range Resources
Time Warner Cable
H.J. Heinz Co.
Moody's Corp.
Eli Lilly & Co.
3M Co.
M&T Bank Corp.
Southwestern Energy
Newmont Mining
NextEra Energy Inc
AutoZone Inc.
Walgreen Co.
Lockheed Martin
Halliburton
Progressive Corp.
Aetna Inc.
MYL
Mylan Inc.
-3.07%
-3.07%
-2.90%
-2.73%
-2.73%
-2.56%
-2.56%
-2.56%
-2.39%
-2.39%
-2.22%
-2.22%
-2.22%
-2.22%
-2.05%
-2.05%
-2.05%
-2.05%
-1.88%
-1.88%
-1.88%
-1.71%
-1.71%
-1.71%
-1.54%
-1.54%
-1.54%
-1.54%
-1.54%
-1.37%
-1.37%
-1.37%
-1.37%
-1.37%
-1.37%
-1.37%
-1.37%
-1.37%
-1.37%
-1.19%
-1.19%
-1.19%
-1.19%
-1.19%
-1.19%
-1.19%
-1.19%
0.00%
105.5
48.5
35.66
9.59
69.72
84.91
553.79
55.88
61.25
20.11
72.91
35.95
38.5
34.55
41.75
88.21
88.53
50.57
29.7
78.19
31.97
29.81
39.49
52.99
80.87
30.85
83.77
141.48
82.66
24.73
61.87
82.1
54.38
36.55
42.91
89.6
82.57
31.93
48.51
68.81
367.17
29.58
87.08
28.39
20.83
38.77
21.37
116.56
52.28
37.7
9.86
73.8
86.04
495.63
57.18
69.36
17.06
84.29
33.75
45.34
33.39
45.1
104.4
91.75
50.27
31.46
37.93
35.74
31.27
40.4
60.37
82.47
34.46
83.62
135.99
77.39
30.96
69.87
95.06
55.95
44.17
47.41
92.42
95.16
34.78
56.02
70.33
369.67
36.44
93.38
33.69
20.74
39.6
24.37
Actual
Consumer Staples
Energy
Financials
-0.01%
-11.13%
-3.91%
10.92%
0.50%
0.29%
-0.65%
0.85%
POD
Mean
Std Dev
Health Care
-11.87%
Industrials
-0.86%
22.69%
Materials
1.02%
Utilities
-1.19%
0.00%
-0.85%
-0.17%
5.86%
0.67%
-0.09%
-0.03%
6.38%
POD Long / Short

1.00
0.90
0.80
0.70
0.60
Bmk, 5.76%
0.50
0.40
0.30
Avg POD,
7.68%
Actual Perf,
6.38%
0.20
0.10
0.00
4.0%
6.0%
8.0%
10.0%
Q1
Min
Median
Max
Q3
1.00
0.99
0.97
0.95
0.90
0.85
0.80
0.75
0.70
0.65
0.60
0.55
0.50
0.45
0.40
0.35
0.30
0.25
0.20
0.15
0.10 12.0%
0.05
0.03
0.00
Actual
POD
Mean
Std Dev
Q1
Min
Median
Max
Q3
Min (pos)
First (neg)
Third Quartile
Second
Third
First Quartile
Weights
Market
Portfolio
RETS
14%
30%
2%
-3%
-7%
12%
19%
13%
12%
9%
8%
18%
1%
6%
15%
6%
-5%
17%
28%
10%
11%
22%
15%
4%
19%
3%
4%
11%
16%
11%
11%
8%
6%
7%
2%
7%
10%
4%
6%
6%
5%
19%
7%
6%
9%
22%
0%
3%
9%
7%
-15%
3%
29%
CLASS
SECT SIZE STYLE
Financials
Industrials
Financials
Financials
Health Care
Health Care
Energy
Industrials
Materials
Financials
Financials
Materials
Energy
Materials
Financials
Health Care
Consumer Staples
Energy
Financials
Financials
Industrials
Energy
Energy
Consumer Staples
Energy
Health Care
L
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
U
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
10%
8%
6%
3%
6%
1%
-11%
2%
13%
-15%
16%
-6%
18%
-3%
8%
18%
4%
-1%
6%
-51%
12%
5%
2%
14%
2%
12%
0%
-4%
-6%
25%
13%
16%
3%
21%
10%
3%
15%
9%
15%
2%
1%
23%
7%
19%
0%
2%
14%
6.38%
Energy
Consumer Staples
Industrials
Health Care
Energy
Consumer Staples
Health Care
Health Care
Consumer Staples
Health Care
Energy
Materials
Consumer Staples
Consumer Staples
Industrials
Financials
Financials
Health Care
Energy
Consumer Staples
Financials
Health Care
Industrials
Financials
Energy
Materials
Utilities
Consumer Staples
Industrials
Energy
Financials
Health Care
Health Care
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
-100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100

Information
PORT
Technology
Financials
Industrials
Consumer
HealthDiscretionary
Energy
Materials
Consumer
Services Staples
6.38%
5.9%
0.9% -0.2% -0.9% 0.5% -0.7% 0.7% -0.1%
0.3%
Information
PORT
Technology
Financials
Industrials
Consumer
HealthDiscretionary
Energy
Materials
Consumer
Services Staples
7.68%
1.3%
1.2% 0.2%
0.8% 1.9% 1.2% 0.7%
0.3% 0.07%
0.6%
0.3%
0.2% 0.1%
0.2% 0.3% 0.2% 0.2%
0.1% 0.33%
8.1%
5.9%
7.7%
9.2%
7.3%
1.5%
0.2%
1.3%
2.1%
1.0%
9.9%
9.1%
8.8%
8.7%
8.5%
8.3%
8.2%
8.1%
8.0%
7.9%
7.8%
7.8%
7.7%
7.6%
7.5%
7.4%
7.4%
7.3%
7.2%
7.1%
12.0% 6.9%
6.7%
6.5%
5.8%
15%
1.4%
0.5%
1.2%
1.9%
1.0%
0.3%
0.0%
0.2%
0.5%
0.2%
1.0%
0.1%
0.8%
1.4%
0.6%
2.1%
1.1%
1.9%
2.8%
1.7%
1.4%
0.6%
1.2%
1.7%
1.0%
0.9%
0.2%
0.7%
1.4%
0.6%
0.3% 0.33%
0.1% -0.89%
0.3% 0.07%
0.5% 0.85%
0.2% -0.16%
Market
Portfolio
Avg POD
7.68% 0.50
7.68%
0
0.5 7.68%
10%
0.5First Quartile
0
Actual Return
Third Quartile
Actual Perf
5%
6.38% 0.20
6.38%
0
0.20 6.38%
0%
0.20 0.00%
Bmk
5.76% 0.50
5.76%
0
0.50 5.76%
0.50 0.00%
PORT
IT
FIN
IND
HCARE
CONS
DISC
ENRGY
MTRLS
TELE
TOTAL
PORT IT
FIN
IND
HCARE CONS DISC
ENRGYMTRLS TELE
CONS DUR
6.4% 5.86%
0.85% ##### -0.85% 0.50% -0.65% 0.67% -0.09% 0.29%
PORT Information
FinancialsIndustrials
Technology
Health Care
Consumer
Energy
Discretionary
Materials
Telecommunications
Consumer Staples
Services
7.7%
1.3%
1.2% 0.2%
0.8% 1.9% 1.2% 0.7%
0.3%
0.1%
0.6%
0.3%
0.2% 0.1%
0.2% 0.3% 0.2% 0.2%
0.1%
0.3%
8.1%
1.5%
1.4% 0.3%
1.0% 2.1% 1.4% 0.9%
0.3%
0.3%
5.9%
0.2%
0.5% 0.0%
0.1% 1.1% 0.6% 0.2%
0.1% -0.9%
7.7%
1.3%
1.2% 0.2%
0.8% 1.9% 1.2% 0.7%
0.3%
0.1%
9.2%
2.1%
1.9% 0.5%
1.4% 2.8% 1.7% 1.4%
0.5%
0.9%
7.3%
1.0%
1.0% 0.2%
0.6% 1.7% 1.0% 0.6%
0.2% -0.2%
5.9%
0.0%
1.4%
0.4%
0.4%
1.1%
0.2%
0.0%
0.8%
0.3%
0.2%
0.6%
0.5%
0.0%
0.5%
0.2%
0.2%
0.6%
0.0%
0.0%
0.2%
0.1%
0.1%
0.2%
0.1%
0.0%
0.5%
0.2%
0.2%
0.5%
1.1%
0.0%
0.6%
0.2%
0.2%
0.7%
0.6%
0.0%
0.5%
0.2%
0.2%
0.3%
0.2%
0.0%
0.3%
0.2%
0.2%
0.5%
0.1%
0.0%
0.1%
0.1%
0.1%
0.2%
0.0%
-0.9%
-0.2%
0.2%
0.3%
0.5%
CONS
DUR
0.0%
0.0%
21%
23%
15%
11%
10%
-1%
12%
-12%
11%
0%
11%
-4%
4%
1%
3%
-6%
11%
-11%


10%
0%
-10%
CONS
DUR
-20%
100.0%
1.2%
http://www.ppca-inc.com/
Portfolio Opportunity Distributions
When viewing the report, there are a couple of key points to understand. The graph
may appear confusing at first, but once defined it provides a simple summary of the
attribution data. The orange bars demonstrate how much of your portfolio was
allocated to a particular sector at the beginning of the given period. The blue and
green floating bars represent the range of returns that were likely for each sector
over the given period. These bars are known as Portfolio Opportunity Distributions
(PODS)- we define PODs at the end of this article. Finally, the gray circle
represents the actual return for your portfolio in a particular sector for the given
period. You can easily see how well you performed versus what you might have
been expected to do, given your sector orientation.
In all, you would like to see your circle appear near the top half of the POD, or even
above it. This shows you that your stock selection is high- or more simply, it says
that you are performing even better than could have been expected. Also, you
would want to see that you are allocated most heavily to the sectors where your
performance is the strongest.
The data behind the bar chart graph can be found in a table format within the
Attribution report:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
Long Short
9.86%
6.88%
6.52%
3.53%
2.81%
2.71%
2.62%
2.44%
2.35%
2.35%
2.26%
2.08%
1.99%
1.90%
1.90%
1.90%
1.81%
1.81%
1.81%
1.81%
1.72%
1.72%
1.72%
1.63%
1.63%
1.45%
1.36%
1.36%
1.36%
1.36%
1.27%
1.27%
1.27%
1.27%
1.27%
1.27%
1.27%
1.18%
1.18%
1.18%
1.18%
1.09%
1.09%
1.09%
1.09%
1.09%
1.09%
1.09%
1.09%
1.09%
No and Value
Centroid
Long
Short Long Short
Long
9.86%
-7.34%
3.92%
3.92%
6.88%
-3.58%
3.57%
3.57%
6.52%
-3.41%
3.38%
3.38%
3.53%
-3.07%
3.24%
3.24%
2.81%
-3.07%
3.12%
3.12%
2.71%
-2.90%
3.03%
3.03%
2.62%
-2.73%
2.94%
2.94%
2.44%
-2.73%
2.87%
2.87%
2.35%
-2.56%
2.80%
2.80%
2.35%
-2.56%
2.73%
2.73%
2.26%
-2.56%
2.67%
2.67%
2.08%
-2.39%
2.61%
2.61%
1.99%
-2.39%
2.56%
2.56%
1.90%
-2.22%
2.50%
2.50%
1.90%
-2.22%
2.45%
2.45%
1.90%
-2.22%
2.40%
2.40%
1.81%
-2.22%
2.36%
2.36%
1.81%
-2.05%
2.31%
2.31%
1.81%
-2.05%
2.26%
2.26%
1.81%
-2.05%
2.22%
2.22%
1.72%
-2.05%
2.18%
2.18%
1.72%
-1.88%
2.13%
2.13%
1.72%
-1.88%
2.09%
2.09%
1.63%
-1.88%
2.05%
2.05%
1.63%
-1.71%
2.00%
2.00%
1.45%
-1.71%
1.96%
1.96%
1.36%
-1.71%
1.92%
1.92%
1.36%
-1.54%
1.88%
1.88%
1.36%
-1.54%
1.83%
1.83%
1.36%
-1.54%
1.79%
1.79%
1.27%
-1.54%
1.75%
1.75%
1.27%
-1.54%
1.70%
1.70%
1.27%
-1.37%
1.66%
1.66%
1.27%
-1.37%
1.61%
1.61%
1.27%
-1.37%
1.57%
1.57%
1.27%
-1.37%
1.52%
1.52%
1.27%
-1.37%
1.47%
1.47%
1.18%
-1.37%
1.42%
1.42%
1.18%
-1.37%
1.37%
1.37%
1.18%
-1.37%
1.31%
1.31%
1.18%
-1.37%
1.25%
1.25%
1.09%
-1.37%
1.19%
1.19%
1.09%
-1.19%
1.13%
1.13%
1.09%
-1.19%
1.06%
1.06%
1.09%
-1.19%
0.98%
0.98%
1.09%
-1.19%
0.89%
0.89%
1.09%
-1.19%
0.80%
0.80%
1.09%
-1.19%
0.68%
0.68%
1.09%
-1.19%
0.54%
0.54%
1.09%
-1.19%
0.35%
0.35%
Short
-3.92%
-3.57%
-3.38%
-3.24%
-3.12%
-3.03%
-2.94%
-2.87%
-2.80%
-2.73%
-2.67%
-2.61%
-2.56%
-2.50%
-2.45%
-2.40%
-2.36%
-2.31%
-2.26%
-2.22%
-2.18%
-2.13%
-2.09%
-2.05%
-2.00%
-1.96%
-1.92%
-1.88%
-1.83%
-1.79%
-1.75%
-1.70%
-1.66%
-1.61%
-1.57%
-1.52%
-1.47%
-1.42%
-1.37%
-1.31%
-1.25%
-1.19%
-1.13%
-1.06%
-0.98%
-0.89%
-0.80%
-0.68%
-0.54%
-0.35%
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
-7.34%
-3.58%
-3.41%
-3.07%
-3.07%
-2.90%
-2.73%
-2.73%
-2.56%
-2.56%
-2.56%
-2.39%
-2.39%
-2.22%
-2.22%
-2.22%
-2.22%
-2.05%
-2.05%
-2.05%
-2.05%
-1.88%
-1.88%
-1.88%
-1.71%
-1.71%
-1.71%
-1.54%
-1.54%
-1.54%
-1.54%
-1.54%
-1.37%
-1.37%
-1.37%
-1.37%
-1.37%
-1.37%
-1.37%
-1.37%
-1.37%
-1.37%
-1.19%
-1.19%
-1.19%
-1.19%
-1.19%
-1.19%
-1.19%
-1.19%
-3.92%
-3.57%
-3.38%
-3.24%
-3.12%
-3.03%
-2.94%
-2.87%
-2.80%
-2.73%
-2.67%
-2.61%
-2.56%
-2.50%
-2.45%
-2.40%
-2.36%
-2.31%
-2.26%
-2.22%
-2.18%
-2.13%
-2.09%
-2.05%
-2.00%
-1.96%
-1.92%
-1.88%
-1.83%
-1.79%
-1.75%
-1.70%
-1.66%
-1.61%
-1.57%
-1.52%
-1.47%
-1.42%
-1.37%
-1.31%
-1.25%
-1.19%
-1.13%
-1.06%
-0.98%
-0.89%
-0.80%
-0.68%
-0.54%
-0.35%
12.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
-2.00%
-4.00%
-6.00%
-8.00%
-10.00%
1
Long Short
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
Equally Weighted
Long
Short
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
2%
-2%
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
No and Value
Centroid Equally Weighted
9.86%
3.92%
2.00%
6.88%
3.57%
2.00%
6.52%
3.38%
2.00%
3.53%
3.24%
2.00%
2.81%
3.12%
2.00%
2.71%
3.03%
2.00%
2.62%
2.94%
2.00%
2.44%
2.87%
2.00%
2.35%
2.80%
2.00%
2.35%
2.73%
2.00%
2.26%
2.67%
2.00%
2.08%
2.61%
2.00%
1.99%
2.56%
2.00%
1.90%
2.50%
2.00%
1.90%
2.45%
2.00%
1.90%
2.40%
2.00%
1.81%
2.36%
2.00%
1.81%
2.31%
2.00%
1.81%
2.26%
2.00%
1.81%
2.22%
2.00%
1.72%
2.18%
2.00%
1.72%
2.13%
2.00%
1.72%
2.09%
2.00%
1.63%
2.05%
2.00%
1.63%
2.00%
2.00%
1.45%
1.96%
2.00%
1.36%
1.92%
2.00%
1.36%
1.88%
2.00%
1.36%
1.83%
2.00%
1.36%
1.79%
2.00%
1.27%
1.75%
2.00%
1.27%
1.70%
2.00%
1.27%
1.66%
2.00%
1.27%
1.61%
2.00%
1.27%
1.57%
2.00%
1.27%
1.52%
2.00%
1.27%
1.47%
2.00%
1.18%
1.42%
2.00%
1.18%
1.37%
2.00%
1.18%
1.31%
2.00%
1.18%
1.25%
2.00%
1.09%
1.19%
2.00%
1.09%
1.13%
2.00%
1.09%
1.06%
2.00%
1.09%
0.98%
2.00%
1.09%
0.89%
2.00%
1.09%
0.80%
2.00%
1.09%
0.68%
2.00%
1.09%
0.54%
2.00%
1.09%
0.35%
2.00%
-7.34%
-3.92%
-2.00%
-2.00%
52
-3.58%
-3.57%
-2.00%
-2.00%
53
-3.41%
-3.38%
-2.00%
-2.00%
54
-3.07%
-3.24%
-2.00%
-2.00%
55
-3.07%
-3.12%
-2.00%
-2.00%
56
-2.90%
-3.03%
-2.00%
-2.00%
57
-2.73%
-2.94%
-2.00%
-2.00%
58
-2.73%
-2.87%
-2.00%
-2.00%
59
-2.56%
-2.80%
-2.00%
-2.00%
60
-2.56%
-2.73%
-2.00%
-2.00%
61
-2.56%
-2.67%
-2.00%
-2.00%
62
-2.39%
-2.61%
-2.00%
-2.00%
63
-2.39%
-2.56%
-2.00%
-2.00%
64
-2.22%
-2.50%
-2.00%
-2.00%
65
-2.22%
-2.45%
-2.00%
-2.00%
66
-2.22%
-2.40%
-2.00%
-2.00%
67
-2.22%
-2.36%
-2.00%
-2.00%
68
-2.05%
-2.31%
-2.00%
-2.00%
69
-2.05%
-2.26%
-2.00%
-2.00%
70
-2.05%
-2.22%
-2.00%
-2.00%
71
-2.05%
-2.18%
-2.00%
-2.00%
72
-1.88%
-2.13%
-2.00%
-2.00%
73
-1.88%
-2.09%
-2.00%
-2.00%
74
-1.88%
-2.05%
-2.00%
-2.00%
75
-1.71%
-2.00%
-2.00%
-2.00%
76
-1.71%
-1.96%
-2.00%
-2.00%
77
-1.71%
-1.92%
-2.00%
-2.00%
78
-1.54%
-1.88%
-2.00%
-2.00%
79
-1.54%
-1.83%
-2.00%
-2.00%
80
-1.54%
-1.79%
-2.00%
-2.00%
81
-1.54%
-1.75%
-2.00%
-2.00%
82
-1.54%
-1.70%
-2.00%
-2.00%
83
-1.37%
-1.66%
-2.00%
-2.00%
84
-1.37%
-1.61%
-2.00%
-2.00%
85
-1.37%
-1.57%
-2.00%
No and Value
-2.00%
86
-1.37%
-1.52%
-2.00%
Centroid
-2.00%
87
-1.37%
-1.47%
-2.00%
Equally Weighted
-2.00%
88
-1.37%
-1.42%
-2.00%
-2.00%
89
-1.37%
-1.37%
-2.00%
-2.00%
90
-1.37%
-1.31%
-2.00%
-2.00%
91
-1.37%
-1.25%
-2.00%
-2.00%
92
-1.37%
-1.19%
-2.00%
-2.00%
93
-1.19%
-1.13%
-2.00%
-2.00%
94
-1.19%
-1.06%
-2.00%
9-2.00%
13 17 21 25 29 33 37 41 45 49 53 57 95
61 65-1.19%
69 73 77-0.98%
81 85 89
93 97
-2.00%
-2.00%
96
-1.19%
-0.89%
-2.00%
-2.00%
97
-1.19%
-0.80%
-2.00%
-2.00%
98
-1.19%
-0.68%
-2.00%
-2.00%
99
-1.19%
-0.54%
-2.00%
-2.00%
100
-1.19%
-0.35%
-2.00%
-2.00%
Q3 2012 Longs
Company
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
Ticker
Main Sector
Apple Inc.
AAPL
Google Inc.
GOOG
American Intl Group
AIG
Financials
Microsoft Corp.
MSFT
priceline.com
PCLN
Industrials
QUALCOMM Inc.
QCOM
Citigroup Inc.
C
Financials
JPMorgan Chase
JPM
Financials
Express Scripts Holding Co ESRX
Health Care
Visa Inc.
V
Pfizer Inc.
PFE
Health Care
Liberty Media Corp
LMCA
Yahoo! Inc.
YHOO
Anadarko Petroleum
APC
Energy
General Motors Co.
GM
Tyco International
TYC
Industrials
DG
Equinix Inc.
EQIX
LyondellBasell Industries N.V. LYB
Materials
News Corp.
NWSA
Amazon.com
AMZN
DLPH
eBay Inc.
EBAY
LINTA
Series Consumer
A
Discretionary
Visteon Corp.
VC
Wells Fargo & Co.
WFC
Financials
COF
Financials
Cisco Systems
CSCO
Freeport-McMoRan Cp & Gld FCX
Materials
Schlumberger Ltd.
SLB
Energy
Barrick Gold Corp.
ABX
Materials
Bank of America
BAC
Financials
Charter Communications Inc. Cl
CHTR
A
HTZ
Johnson & Johnson
JNJ
Health Care
Mondelez Intl
MDLZ
Consumer Staples
SBA Communications Corp. SBAC
BP PLC ADS
BP
Energy
Berkshire Hathaway
BRK-B
Financials
International Bus. Machines IBM
MasterCard
MA
CIT Group Inc.
C
Financials
DIRECTV
DTV
EMC Corp.
EMC
General Electric
GE
Industrials
Marathon Petroleum
MPC
Energy
OXY
Energy
Philip Morris Intl
PM
Consumer Staples
Six Flags Entertainment Corp. SIX
50 Exxon Mobil Corp.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
Q3 2012 Shorts
Company
Intel Corp.
Gilead Sciences
Chevron Corp.
Walt Disney
AT&T Inc.
Ford Motor Co.
Wal-Mart Stores
Caterpillar
Intuitive Surgical
ConocoPhillips
Procter & Gamble
Hewlett-Packard
Amgen Inc.
Time Warner
Altria Group
Merck & Co Inc
McDonald's Corp.
E.I. DuPont
Oracle Corp.
Coca-Cola Co.
Comcast Corp.
Sysco Corp.
CenturyLink
Home Depot
Deere & Co.
MetLife Inc.
O'Reilly Automotive
Cerner Corp.
Seagate Technology
Range Resources
Time Warner Cable
H.J. Heinz Co.
Moody's Corp.
Eli Lilly & Co.
3M Co.
M&T Bank Corp.
Southwestern Energy
Newmont Mining
NextEra Energy Inc
AutoZone Inc.
Walgreen Co.
Lockheed Martin
Halliburton
Progressive Corp.
XOM
Energy
Ticker
INTC
VZ
GILD
CVX
DIS
T
F
WMT
CAT
ISRG
COP
PG
HPQ
AMGN
BMY
TWX
MO
MRK
PXD
MCD
DD
ORCL
KO
CMCSA
SYY
CTL
HD
DE
MET
ORLY
AVB
CERN
STX
RRC
TWC
HNZ
MCO
LLY
MMM
MTB
SWN
NEM
NEE
AZO
WAG
LMT
HAL
PGR
Health Care
Energy
Consumer Staples
Industrials
Health Care
Energy
Consumer Staples
Health Care
Health Care
Consumer Staples
Health Care
Energy
Materials
Consumer Staples
Consumer Staples
Industrials
Financials
Financials
Health Care
Energy
Consumer Staples
Financials
Health Care
Industrials
Financials
Energy
Materials
Utilities
Consumer Staples
Industrials
Energy
Financials
49 Aetna Inc.
50 Mylan Inc.
AET
MYL
Health Care
Health Care
Sub-sector
Computer Hardware
Internet Software & Services
Multi-line Insurance
Systems Software
Internet Retail
Communications Equipment
Other Diversified Financial Services
Health Care Services
Data Processing & Outsourced Services
Pharmaceuticals
Broadcasting
Oil & Gas Exploration & Production
Automobile Manufacturers
Security & Alarm Services
General Merchandise Stores
Specialty Chemicals
Movies & Entertainment
Internet Retail
Auto Parts & Equipment
Catalog Retail
Diversified Banks
Consumer Finance
Communications Equipment
Diversified Metals & Mining
Oil & Gas Equipment & Services
Gold
Cable & Satellite
Trucking
Pharmaceuticals
Packaged Foods & Meats
Wireless Telecommunication Services
Integrated Oil & Gas
Property & Casualty Insurance
IT Consulting & Other Services
Data Processing & Outsourced Services
Regional Banks
Cable & Satellite
Computer Storage & Peripherals
Industrial Conglomerates
Oil & Gas Refining & Marketing
Tobacco
Leisure Facilities
No of Funds with Stock in top 10

(Mkt Cap $ 30-Sep-12
bil)
30-Sep-12 Avg Weight when
30-Sep-12
in TopYTD
10 Holdings
493
212
46
224
31
104
103
150
41
94
177
11
21
35
37
12
16
9
26
55
100
10
60
10
3
167
32
95
35
92
33
98
7
6
190
45
8
128
211
212
57
7
31
49
212
18
60
142
3
148
110
96
59
46
66
56
51
46
38
44
38
41
42
48
33
34
38
30
30
42
26
39
29
31
38
39
25
24
30
19
39
25
32
30
25
23
29
22
22
29
22
21
25
23
20
21
19
20
109
76
72
39
31
30
29
27
26
26
25
23
22
21
21
21
20
20
20
20
19
19
19
18
18
16
15
15
15
15
14
14
14
14
14
14
14
13
13
13
13
12
12
12
12
12
12
12
12
8
7
9
6
6
5
6
5
6
6
5
8
9
6
6
7
5
8
9
7
6
12
5
7
10
5
4
5
7
6
6
6
8
7
4
7
9
10
8
4
5
10
4
4
5
5
5
4
10
3
5
19
2
18
4
4
2
7
8
1
27
23
8
5
13
20
44
34
14
3
36
5
13
56
1
8
2
3
3
2
1
46
23
1
4
14
2
2
1
4
14
5
3
1
9
2
2
56
31
0
35
6
32
13
34
22
14
39
14
30
11
-7
18
18
17
73
53
31
27
47
53
31
-3
18
30
1
5
2
-25
64
20
22
8
5
51
-1
12
3
23
4
15
9
15
66
-20
10
41
398
Sub-sector
(Mkt Cap $ bil)
Semiconductors
100
Integrated Telecommunication Services
119
Biotechnology
55
199
85
193
40
Hypermarkets & Super Centers
231
Construction & Farm Machinery & Heavy Trucks 53
Health Care Equipment
21
66
Household Products
183
Computer Hardware
26
Biotechnology
65
Pharmaceuticals
52
42
Tobacco
62
Pharmaceuticals
130
13
Restaurants
85
Diversified Chemicals
39
Systems Software
146
Soft Drinks
164
Cable & Satellite
94
Food Distributors
18
23
Home Improvement Retail
92
Construction & Farm Machinery & Heavy Trucks 33
Life & Health Insurance
33
Automotive Retail
11
Residential REITs
12
Health Care Technology
13
Computer Storage & Peripherals
11
11
Cable & Satellite
28
Packaged Foods & Meats
19
Specialized Finance
10
Pharmaceuticals
53
Industrial Conglomerates
61
Regional Banks
12
12
Gold
23
Electric Utilities
28
Automotive Retail
14
Drug Retail
30
Aerospace & Defense
28
Oil & Gas Equipment & Services
28
Property & Casualty Insurance
14
19
12
30-Sep-12
Short Int % Value
Mkt Cap
of Short
No Interest
of FundsAvg
withPortfolio
Short %
4
4.3
10
5
2
2.1
8
3
4
2
7
7
1
1.8
4
4
2
1.8
5
6
1
1.7
6
4
4
1.6
7
8
1
1.6
11
5
3
1.5
6
5
7
1.5
0
0
2
1.5
4
4
1
1.4
11
6
5
1.4
6
5
2
1.3
2
24
2
1.3
6
4
3
1.3
3
5
2
1.3
3
5
1
1.2
5
7
9
1.2
8
7
1
1.2
3
5
3
1.2
4
5
1
1.1
11
6
1
1.1
11
6
1
1.1
7
6
5
1
1
4
4
1
4
6
1
1
9
5
3
0.9
4
6
2
0.9
8
6
9
0.9
1
4
7
0.9
1
4
8
0.9
1
4
9
0.8
8
9
8
0.8
6
5
3
0.8
11
5
4
0.8
1
0
9
0.8
3
7
2
0.8
4
3
1
0.8
4
3
6
0.8
0
0
6
0.8
7
6
3
0.8
7
6
3
0.7
1
4
5
0.7
5
6
2
0.7
5
7
3
0.7
0
0
2
0.7
11
4
6
0.7
0
0
Managed Health Care

Pharmaceuticals
14
10
5
7
0.7
0.7
6
5
5
6
Weights
1105
9.86%
6.88%
6.52%
3.53%
2.81%
2.71%
2.62%
2.44%
2.35%
2.35%
2.26%
2.08%
1.99%
1.90%
1.90%
1.90%
1.81%
1.81%
1.81%
1.81%
1.72%
1.72%
1.72%
1.63%
1.63%
1.45%
1.36%
1.36%
1.36%
1.36%
1.27%
1.27%
1.27%
1.27%
1.27%
1.27%
1.27%
1.18%
1.18%
1.18%
1.18%
1.09%
1.09%
1.09%
1.09%
1.09%
1.09%
1.09%
1.09%
6
3
30-Jun-12 30-Sep-12
4.93%
3.44%
3.26%
1.76%
1.40%
1.36%
1.31%
1.22%
1.18%
1.18%
1.13%
1.04%
1.00%
0.95%
0.95%
0.95%
0.90%
0.90%
0.90%
0.90%
0.86%
0.86%
0.86%
0.81%
0.81%
0.72%
0.68%
0.68%
0.68%
0.68%
0.63%
0.63%
0.63%
0.63%
0.63%
0.63%
0.63%
0.59%
0.59%
0.59%
0.59%
0.54%
0.54%
0.54%
0.54%
0.54%
0.54%
0.54%
0.54%
584
580.07
32.09
30.59
664.52
55.68
27.41
35.73
55.83
123.63
23
87.91
15.83
66.2
19.72
52.85
54.39
175.65
40.27
22.29
228.35
25.5
42.01
17.78
37.5
33.44
54.66
17.17
34.07
64.91
37.57
8.18
70.87
12.8
67.56
38.62
57.05
40.54
83.33
195.58
430.11
27.41
48.82
25.63
20.84
44.92
85.77
87.26
54.18
667.1
754.5
32.79
29.76
619.07
62.47
32.72
40.48
62.63
134.28
24.85
104.08
15.98
69.92
22.75
56.26
51.54
206.05
51.66
24.51
254.32
31
48.37
18.5
44.46
34.53
57.01
19.1
39.58
72.33
41.76
8.83
75.06
13.73
68.91
41.35
62.9
42.36
88.2
207.45
451.48
32.72
52.44
27.27
22.71
54.59
86.06
89.94
58.8
1.09%
0.54%
85.57
91.45
3.67%
1.79%
1.71%
1.54%
1.54%
1.45%
1.37%
1.37%
1.28%
1.28%
1.28%
1.19%
1.19%
1.11%
1.11%
1.11%
1.11%
1.02%
1.02%
1.02%
1.02%
0.94%
0.94%
0.94%
0.85%
0.85%
0.85%
0.77%
0.77%
0.77%
0.77%
0.77%
0.68%
0.68%
0.68%
0.68%
0.68%
0.68%
0.68%
0.68%
0.68%
0.68%
0.60%
0.60%
0.60%
0.60%
0.60%
0.60%
26.65
44.44
51.28
105.5
48.5
35.66
9.59
69.72
84.91
553.79
55.88
61.25
20.11
72.91
35.95
38.5
34.55
41.75
88.21
88.53
50.57
29.7
78.19
31.97
29.81
39.49
52.99
80.87
30.85
83.77
141.48
82.66
24.73
61.87
82.1
54.38
36.55
42.91
89.6
82.57
31.93
48.51
68.81
367.17
29.58
87.08
28.39
20.83
22.66
45.57
66.33
116.56
52.28
37.7
9.86
73.8
86.04
495.63
57.18
69.36
17.06
84.29
33.75
45.34
33.39
45.1
104.4
91.75
50.27
31.46
37.93
35.74
31.27
40.4
60.37
82.47
34.46
83.62
135.99
77.39
30.96
69.87
95.06
55.95
44.17
47.41
92.42
95.16
34.78
56.02
70.33
369.67
36.44
93.38
33.69
20.74
58.6
% Owned by
YTD
HF
1
1
4
1
2
1
2
1
1
2
1
2
3
1
2
4
1
1
14
1
1
2
1
2
0
2
1
2
3
4
2
1
9
9
5
1
13
3
1
1
6
2
1
11
3
2
5
1
-15
9
78
-1
27
16
0
17
-8
13
3
3
-48
34
-9
24
7
17
15
-14
-5
18
6
50
6
7
48
12
3
12
0
24
70
9
46
10
38
16
10
30
8
-23
12
15
0
12
-11
16
7.34%
3.58%
3.41%
3.07%
3.07%
2.90%
2.73%
2.73%
2.56%
2.56%
2.56%
2.39%
2.39%
2.22%
2.22%
2.22%
2.22%
2.05%
2.05%
2.05%
2.05%
1.88%
1.88%
1.88%
1.71%
1.71%
1.71%
1.54%
1.54%
1.54%
1.54%
1.54%
1.37%
1.37%
1.37%
1.37%
1.37%
1.37%
1.37%
1.37%
1.37%
1.37%
1.19%
1.19%
1.19%
1.19%
1.19%
1.19%
12
12
-2
19
1.19%
1.19%
0.60%
0.60%
38.77
21.37
39.6
24.37
Q2 2012 Longs
Company
Ticker
Main SectorSub-sector (Mkt Cap $ bil)

30-Jun-12 30-Jun-12
Apple Inc.
AAPL
Information Computer
Technology
Hardware
590
150
113
Google Inc.
GOOG
Information Internet
Technology
Software &218
Services 96
63
Microsoft Corp.
MSFT
Information Systems
Technology
Software254
74
47
Express Scripts Holding Co
ESRX
Health CareHealth Care Services
49
46
29
priceline.com
PCLN
Industrials Internet Retail
29
46
29
Johnson & Johnson
JNJ
Health CarePharmaceuticals 188
41
26
QUALCOMM Inc.
QCOM
Information Communications
Technology
Equipment
107
61
26
American Intl Group
AIG
Financials Multi-line Insurance55
38
25
Liberty Media Corp
LMCA
Broadcasting
11
39
25
Amazon.com
AMZN
Internet Retail
107
38
24
Pfizer Inc.
PFE
42
24
Tyco International
TYC
Industrials Industrial Conglomerates
26
32
24
eBay Inc.
EBAY
Technology
Software & 58
Services 34
22
Duke Energy Corp.
DUK
Utilities
Electric Utilities
47
25
21
Equinix Inc.
EQIX
Technology
Software & Services
9
40
21
JPMorgan Chase
JPM
Financials Other Diversified Financial
141
Services
56
21
Kinder Morgan
KMI
Energy
Oil & Gas Storage &36
Transportation
35
21
LyondellBasell Industries N.V.
LYB
Materials Specialty Chemicals27
30
21
Visa Inc.
V
Information Data
Technology
Processing & Outsourced
87
38
Services 21
Citigroup Inc.
C
84
Services
45
20
DG
General Merchandise
18 Stores 28
20
Delphi Automotive PLC DLPH
9
27
20
LINTA
Series
Consumer
A
Discretionary
Catalog Retail
9
31
19
News Corp.
NWSA
57
32
19
Wells Fargo & Co.
WFC
Financials Diversified Banks 181
34
19
Wal-Mart Stores
WMT
Consumer Staples
Hypermarkets & Super
252 Centers25
19
Charter Communications CHTR
Inc. Cl A Telecommunications
Cable & Satellite
Services 8
22
18
United Continental Holdings
UAL
Inc.
Industrials Airlines
6
25
18
Hertz Global Holdings Inc.HTZ
Trucking
5
34
17
Visteon Corp.
VC
2
25
17
Yahoo! Inc.
YHOO
Technology
Software & 18
Services 34
17
Ariba Inc.
ARBA
Information Systems
Technology
Software 5
19
16
Delta Air Lines Inc.
DAL
Industrials Airlines
8
29
16
General Motors Co.
GM
32
36
16
SBA Communications Corp.
SBAC
Telecommunications
Wireless Telecommunication
Services 7
Services
20
16
Bank of America
BAC
85
Services
30
15
Dollar Thrifty Automotive Group
DTG Inc. Industrials Trucking
2
23
15
MasterCard
MA
Information Data
Technology
Processing & Outsourced
54
29
Services 15
Schlumberger Ltd.
SLB
Energy
Oil & Gas Equipment
99& Services
27
15
TripAdvisor
TRIP
Internet Retail
5
20
15
Anadarko Petroleum
APC
Energy
Oil & Gas Exploration
35 & Production
36
14
CIT Group Inc.
C
Financials Regional Banks
8
18
14
Oracle Corp.
ORCL
Information Systems
Technology
Software157
30
14
Six Flags Entertainment Corp.
SIX
Leisure Facilities
3
20
14
Sunoco Inc.
SUN
Energy
Oil & Gas Refining & 5Marketing19
14
BP PLC ADS
BP
Energy
135
24
13
CVS Caremark Corp.
CVS
Consumer Staples
Drug Retail
57
19
13
Freeport-McMoRan Cp & FCX
Gld
Materials Diversified Metals &33
Mining
21
13
Intel Corp.
INTC
Information Semiconductors
Technology
132
23
13
Catamaran Corp
CTRX
Q2 2012 Shorts
Company
Ticker
Exxon Mobil Corp.
XOM
IBM
Chevron Corp.
CVX
Walt Disney
DIS
AT&T Inc.
T
Coca-Cola Co.
KO
ConocoPhillips
COP
Verizon Communications VZ
General Electric
GE
Altria Group
MO
Caterpillar
CAT
salesforce.com inc.
CRM
Philip Morris Intl
PM
Berkshire Hathaway
BRK-B
CenturyLink
CTL
BMY
E.I. DuPont
DD
Home Depot
HD
Procter & Gamble
PG
PepsiCo Inc.
PEP
Merck & Co Inc
MRK
Abbott Laboratories
ABT
MetLife Inc.
MET
EMC Corp.
EMC
Amgen Inc.
AMGN
Ford Motor Co.
F
Time Warner
TWX
Hewlett-Packard
HPQ
Kohl's Corp.
KSS
Gilead Sciences
GILD
United Parcel Service
UPS
Comcast Corp.
CMCSA
AvalonBay Communities AVB
PXD
Halliburton
HAL
U.S. Bancorp
USB
Chipotle Mexican Grill
CMG
Walgreen Co.
WAG
Waste Management
WM
Kimberly-Clark
KMB
Cisco Systems
CSCO
Simon Property Group SPG
Illinois Tool Works
ITW
Lockheed Martin
LMT
Baker Hughes
BHI
Alcoa Inc.
AA
Sysco Corp.
SYY
United Technologies
UTX
Health CareHealth Care Services9
18
12
Sub-sector (Mkt Cap $ bil)

Short Int % Mkt Cap
Energy
412
1
Information IT
Technology
Consulting & Other
229 Services
1
Energy
222
1
89
3
Telecommunications
IntegratedServices
Telecommunication
218
Services
1
Consumer Staples
Soft Drinks
178
1
Energy
72 & Production
3
Telecommunications
IntegratedServices
Telecommunication
126
Services
1
Industrials Industrial Conglomerates
222
1
Consumer Staples
Tobacco
71
2
Industrials Construction & Farm57Machinery & Heavy Trucks
3
Information Application
TechnologySoftware20
10
Consumer Staples
Tobacco
159
1
Financials Property & Casualty
210
Insurance
1
Telecommunications
IntegratedServices
Telecommunication
26
Services
5
2
Materials Diversified Chemicals
47
3
Home Improvement84
Retail
1
Consumer Staples
Household Products
183
1
Consumer Staples
Soft Drinks
114
1
1
1
Financials Life & Health Insurance
37
3
Technology
Storage &53Peripherals
2
Health CareBiotechnology
65
2
36
3
41
3
Technology
Hardware38
3
Department Stores 12
8
Health CareBiotechnology
44
2
Industrials Air Freight & Logistics
73
1
Cable & Satellite 92
1
Financials Residential REITs 13
6
Energy
12 & Production
8
Energy
Oil & Gas Equipment
32& Services
3
Financials Diversified Banks 63
1
Restaurants
9
9
Consumer Staples
Drug Retail
31
3
Industrials Environmental & Facilities
16
Services
5
Consumer Staples
Household Products33
2
Information Communications
Technology
Equipment
93
1
Financials Retail REITs
48
2
Industrials Industrial Machinery27
3
Industrials Aerospace & Defense
30
3
Energy
Oil & Gas Equipment
21& Services
4
Materials Aluminum
9
9
Consumer Staples
Food Distributors 18
5
Industrials Aerospace & Defense
71
1
Host Hotels & Resorts

Mylan Inc.
HST
MYL
Financials Specialized REITs 11

7
8
Top 10 Holdings
30-Jun-12 YTD
8
6
6
7
5
6
4
7
9
6
5
5
5
12
8
4
7
10
6
5
7
13
6
8
5
5
9
6
7
10
9
6
7
8
8
7
9
6
6
9
5
8
6
12
5
10
5
6
6
3
6
2
8
16
1
4
5
27
3
2
10
5
8
42
2
14
37
7
3
16
44
16
16
1
1
48
28
23
50
18
22
18
5
12
2
77
5
3
43
7
14
2
55
19
3
2
3
1
1099
56
3
19
36
23
6
15
47
28
37
14
23
48
5
82
14
10
49
28
9
26
32
25
32
26
27
40
-4
7
-19
-8
59
14
-1
43
42
9
15
9
35
-9
9
24
40
41
3
10
-3
11
10.28%
5.73%
4.28%
2.64%
2.64%
2.37%
2.37%
2.27%
2.27%
2.18%
2.18%
2.18%
2.00%
1.91%
1.91%
1.91%
1.91%
1.91%
1.91%
1.82%
1.82%
1.82%
1.73%
1.73%
1.73%
1.73%
1.64%
1.64%
1.55%
1.55%
1.55%
1.46%
1.46%
1.46%
1.46%
1.36%
1.36%
1.36%
1.36%
1.36%
1.27%
1.27%
1.27%
1.27%
1.27%
1.18%
1.18%
1.18%
1.18%
5.14%
2.87%
2.14%
1.32%
1.32%
1.18%
1.18%
1.14%
1.14%
1.09%
1.09%
1.09%
1.00%
0.96%
0.96%
0.96%
0.96%
0.96%
0.96%
0.91%
0.91%
0.91%
0.86%
0.86%
0.86%
0.86%
0.82%
0.82%
0.77%
0.77%
0.77%
0.73%
0.73%
0.73%
0.73%
0.68%
0.68%
0.68%
0.68%
0.68%
0.64%
0.64%
0.64%
0.64%
0.64%
0.59%
0.59%
0.59%
0.59%
13
56
30-Jun-12
Value of Short
No Interest
of FundsAvg
withPortfolio
Short%%
Owned by
YTD
HF
3.4
12
5
1
2.8
12
3
1
2.4
11
4
1
2.2
4
4
2
2.1
5
5
1
1.9
10
5
1
1.8
7
4
1
1.8
5
3
1
1.8
9
3
1
1.8
3
4
1
1.7
5
5
2
1.6
6
6
4
1.5
11
5
2
1.3
12
15
2
1.2
3
4
1
1.2
10
6
2
1.2
3
4
1
1.2
8
5
1
1.2
8
10
2
1.2
8
5
1
1.2
9
6
1
1.1
6
6
1
1.1
9
5
3
1.1
6
5
2
1
2
9
1
1
11
6
1
1
3
4
2
1
8
6
4
1
2
4
5
1
6
5
4
0.9
4
6
1
0.9
7
5
1
0.9
0
0
2
0.9
9
6
13
0.9
7
5
5
0.9
6
4
2
0.9
2
4
8
0.9
9
4
2
0.8
1
5
0
0.8
1
1
2
0.8
9
4
1
0.8
1
2
1
0.8
1
4
1
0.8
1
5
2
0.8
1
2
2
0.8
0
0
2
0.8
1
9
1
0.8
4
8
1
1.09%
0.55%
62.6
6
9
8
33
28
14
7
14
19
22
-2
42
21
11
18
-7
13
32
2
11
19
21
12
18
32
-11
20
-24
5
42
6
46
9
10
1
24
-12
10
10
15
-3
25
25
16
-2
2
7
9
5.43%
4.47%
3.83%
3.51%
3.35%
3.04%
2.88%
2.88%
2.88%
2.88%
2.72%
2.56%
2.40%
2.08%
1.92%
1.92%
1.92%
1.92%
1.92%
1.92%
1.92%
1.76%
1.76%
1.76%
1.60%
1.60%
1.60%
1.60%
1.60%
1.60%
1.44%
1.44%
1.44%
1.44%
1.44%
1.44%
1.44%
1.44%
1.28%
1.28%
1.28%
1.28%
1.28%
1.28%
1.28%
1.28%
1.28%
1.28%
2.72%
2.24%
1.92%
1.76%
1.68%
1.52%
1.44%
1.44%
1.44%
1.44%
1.36%
1.28%
1.20%
1.04%
0.96%
0.96%
0.96%
0.96%
0.96%
0.96%
0.96%
0.88%
0.88%
0.88%
0.80%
0.80%
0.80%
0.80%
0.80%
0.80%
0.72%
0.72%
0.72%
0.72%
0.72%
0.72%
0.72%
0.72%
0.64%
0.64%
0.64%
0.64%
0.64%
0.64%
0.64%
0.64%
0.64%
0.64%
0.8
0.8
1
4
2
7
2
12
5
10
1.28%
1.28%
0.64%
0.64%
9
6
31-Mar-12 30-Jun-12
599.55
641.24
32.26
54.18
717.5
65.96
68.06
30.83
88.15
202.51
22.65
56.18
36.9
21.01
157.45
45.98
38.65
43.65
118
36.55
46.2
31.6
19.09
19.71
34.14
61.2
63.45
21.5
15.04
53
15.22
31.47
9.92
25.65
50.81
9.57
80.91
420.54
69.93
35.67
78.34
36.55
29.16
46.77
38.63
45
44.8
38.04
28.12
584
580.07
30.59
55.83
664.52
67.56
55.68
32.09
87.91
228.35
23
52.85
42.01
23.06
175.65
35.73
32.22
40.27
123.63
27.41
54.39
25.5
17.78
22.29
33.44
69.72
70.87
24.33
12.8
37.5
15.83
44.93
10.95
19.72
57.05
8.18
80.96
430.11
64.91
44.69
66.2
27.41
29.7
54.18
46.45
40.54
46.73
34.07
26.65
74.96
99.21
86.73
208.65
107.21
43.78
31.23
74.01
76.01
38.23
20.07
30.87
106.52
154.51
88.61
81.15
38.65
33.75
52.9
50.31
67.21
66.35
38.4
61.29
37.35
29.88
67.97
12.48
37.75
23.83
50.03
48.86
80.72
30.01
141.35
111.59
33.19
31.68
418
33.49
34.96
73.89
21.15
145.68
57.12
89.86
41.94
10.02
29.86
82.94
85.57
195.58
105.5
48.5
35.66
78.19
55.88
44.44
20.84
34.55
84.91
138.26
87.26
83.33
39.49
35.95
50.57
52.99
61.25
70.66
41.75
64.47
30.85
25.63
72.91
9.59
38.5
20.11
45.49
51.28
78.76
31.97
141.48
88.21
28.39
32.16
379.95
29.58
33.4
83.77
17.17
155.66
52.89
87.08
41.1
8.75
29.81
75.53
16.42
23.45
15.82
21.37
Q2 2012
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19
20
21
22
23
24
25
26
27
28
29
30
31
32
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34
35
36
37
38
39
40
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Ticker
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Anadarko Petroleum Corp
Ariba Inc.
AvalonBay Communities, Inc.
AutoZone Inc
Bank of America Corp
Baker Hughes Inc
BP PLC ADS
Berkshire Hathaway
Citigroup Inc.
Caterpillar Inc.
Cerner
Charter Communications Inc. Cl A
Comcast Corp.
Chipotle Mexican Grill
ConocoPhillips
Salesforce.com
Cisco Systems
CenturyLink Inc
Catamaran Corp
CVS Caremark Corp.
Chevron Corp.
Delta Air Lines Inc.
Du Pont (E.I.)
Deere & Co.
Walt Disney Co.
Dollar Thrifty Automotive Group Inc.
DirecTV
Duke Energy
eBay Inc.
EMC Corp.
Equinix Inc.
Express Scripts
Ford Motor
Freeport-McMoran Cp & Gld
General Electric
Gilead Sciences
General Motors Co.
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
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74
75
76
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78
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80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
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99
100
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PG
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QCOM
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SBAC
SIX
SLB
Google Inc.
Halliburton Co.
Home Depot
Heinz (H.J.)
Hewlett-Packard
Host Hotels & Resorts
Intel Corp.
Intuitive Surgical Inc.
Illinois Tool Works
Johnson & Johnson
JPMorgan Chase & Co.
Kimberly-Clark
Kinder Morgan
Coca Cola Co.
Kohl's Corp.
Liberty Interactive Corp. Interactive Series A
Lilly (Eli) & Co.
Liberty Media Corporation
Lockheed Martin Corp.
LyondellBasell
Mastercard Inc.
McDonald's Corp.
Moody's Corp
Mondelez International
MetLife Inc.
3M Co.
Altria Group Inc
Marathon Petroleum
Merck & Co.
Microsoft Corp.
M&T Bank Corp.
Mylan Inc.
NextEra Energy Resources
Newmont Mining Corp. (Hldg. Co.)
News Corporation
Oracle Corp.
O'Reilly Automotive
Priceline.com Inc
PepsiCo Inc.
Pfizer Inc.
Procter & Gamble
Progressive Corp.
Philip Morris International
QUALCOMM Inc.
Range Resources Corp.
SBA Communications Corp.
Six Flags Entertainment Corp.
Schlumberger Ltd.
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
SPG
STX
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SWN
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VC
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WAG
WFC
WM
WMT
XOM
YHOO
Simon Property Group Inc

Seagate Technology
Sunoco Inc.
Southwestern Energy
Sysco Corp.
AT&T Inc
TripAdvisor
Time Warner Cable Inc.
Time Warner Inc.
Tyco International
United Continental Holdings Inc.
United Parcel Service
U.S. Bancorp
United Technologies
Visa Inc.
Visteon Corp.
Walgreen Co.
Wells Fargo
Waste Management Inc.
Wal-Mart Stores
Exxon Mobil Corp.
Yahoo Inc.

Materials
Health Care
Materials
Health Care
Financials
Health Care
Energy
Financials
Financials
Energy
Health Care
Energy
Financials
Financials
Industrials
Health Care
Financials
Energy
Health Care
Consumer Staples
Energy
Industrials
Materials
Industrials
Industrials
Utilities
Health Care
Materials
Industrials
Health Care
31-Dec-11 31-Mar-12 30-Jun-12 30-Sep-12

8.65
10.02
8.75
8.86
405
599.55
584
667.1
56.23
61.29
64.47
68.56
45.25
43.48
37.57
41.76
42.19
50.16
38.77
39.6
23.2
30.83
32.09
32.79
64.21
67.97
72.91
84.29
173.1
202.51
228.35
254.32
76.33
78.34
66.2
69.92
30.35
31.47
44.93
44.69
130.6
141.35
141.48
135.99
324.97
371.8
367.17
369.67
5.56
9.57
8.18
8.83
48.64
41.94
41.1
45.23
35.24
33.75
35.95
33.75
42.74
45
40.54
42.36
76.3
81.15
83.33
88.2
26.31
36.55
27.41
32.72
90.6
106.52
84.91
86.04
61.25
76.16
82.66
77.39
56.94
63.45
70.87
75.06
23.71
30.01
31.97
35.74
337.74
418
379.95
317.54
42.29
55.74
54.66
57.01
72.87
76.01
55.88
57.18
101.46
154.51
138.26
152.69
18.08
21.15
17.17
19.1
37.2
38.65
39.49
40.4
56.48
74.96
99.21
97.97
40.78
44.8
46.73
48.42
106.4
107.21
105.5
116.56
8.09
9.92
10.95
9.16
45.78
52.9
50.57
50.27
77.35
80.9
80.87
82.47
41.14
46.2
54.39
51.54
37.5
43.78
48.5
52.28
21.54
31.6
25.5
31
70.26
80.91
80.96
86.93
42.76
49.34
48.82
52.44
22
21.01
23.06
64.79
30.33
36.9
42.01
48.37
21.54
29.88
25.63
27.27
101.4
157.45
175.65
206.05
44.69
54.18
55.83
62.63
10.76
12.48
9.59
9.86
36.79
38.04
34.07
39.58
17.91
20.07
20.84
22.71
40.93
48.86
51.28
66.33
20.27
25.65
19.72
22.75
Mkt Cap Longs

$ Bil
New
9.46
627.55
108.37
41.79
13.25
48.41
64.68
115.18
34.94
1
1
13.29
13.65
95.17
19.89
55.71
134.51
146.03
95.96
56.26
13.28
7.59
94.97
10.00
32.97
69.41
21.22
101.25
25.22
20.10
60.37
228.08
7.75
46.87
32.30
17.20
94.10
9.84
2.44
31.68
45.63
62.59
57.45
9.97
51.13
37.59
37.57
238.19
50.25
35.63
1
1
1
Energy
Consumer Staples
Financials
Health Care
Industrials
Health Care
Financials
Consumer Staples
Energy
Consumer Staples
Health Care
Industrials
Materials
Financials
Consumer Staples
Financials
Industrials
Consumer Staples
Energy
Health Care
Financials
Health Care
Utilities
Materials
Energy
Industrials
Consumer Staples
Health Care
Consumer Staples
Financials
Consumer Staples
Energy
Energy
Energy
645.9
34.51
42.04
54.04
25.76
14.77
11.72
183.88
24.25
463.01
46.71
65.58
33.25
73.56
32.17
69.97
49.35
16.22
41.56
78.05
80.9
32.49
372.82
100.33
33.68
37.36
31.18
81.73
29.65
33.29
37.7
25.96
76.34
21.46
60.88
60.01
17.84
25.65
79.95
93.7
467.71
66.35
21.64
66.71
19.51
78.48
89.48
54.7
61.94
42.96
41.24
68.31
641.24
33.19
50.31
53.55
23.83
16.42
15.04
208.65
28.12
541.75
57.12
65.96
45.98
73.89
38.65
74.01
50.03
19.09
40.27
88.15
89.86
43.65
420.54
98.1
42.1
38.01
37.35
89.21
30.87
43.36
38.4
32.26
86.88
23.45
61.08
51.27
19.71
29.16
91.35
95.23
717.5
66.35
22.65
67.21
23.18
88.61
111.59
68.06
58.14
50.81
46.77
69.93
580.07
28.39
52.99
54.38
20.11
15.82
12.8
195.58
26.65
553.79
52.89
67.56
35.73
83.77
32.22
78.19
45.49
17.78
42.91
87.91
87.08
40.27
430.11
88.53
36.55
38.62
30.85
89.6
34.55
44.92
41.75
30.59
82.57
21.37
68.81
48.51
22.29
29.7
83.77
85.77
664.52
70.66
23
61.25
20.83
87.26
88.21
55.68
61.87
57.05
54.18
64.91
754.5
33.69
60.37
55.95
17.06
16.05
13.73
207.45
22.66
495.63
59.47
68.91
40.48
85.78
35.52
37.93
51.22
18.5
47.41
104.08
93.38
51.66
451.48
91.75
44.17
41.35
34.46
92.42
33.39
54.59
45.1
29.76
95.16
24.37
70.33
56.02
24.51
31.46
83.62
86.06
619.07
70.77
24.85
69.36
20.74
89.94
104.4
62.47
69.87
62.9
58.8
72.33
247.92
31.26
89.77
17.92
33.54
11.63
5.78
234.39
112.76
19.71
27.56
191.02
153.85
33.56
36.82
170.12
11.93
10.06
53.08
12.51
30.01
29.71
56.10
92.11
9.84
73.48
37.60
63.95
67.58
18.52
137.08
250.45
12.18
9.93
29.76
27.81
57.46
151.63
9.59
69.72
30.87
109.46
182.98
189.63
12.54
150.24
12.87
106.46
11.12
7.95
3.14
96.02
1
1
1
Financials
Energy
Energy
Consumer Staples
Industrials
Industrials
Industrials
Financials
Industrials
Consumer Staples
Financials
Industrials
Consumer Staples
Energy
128.94
16.4
38.81
31.94
29.33
30.24
25.21
63.57
36.14
46.71
18.87
73.19
27.05
73.09
101.53
49.94
40.12
33.06
27.56
32.71
59.76
84.76
16.13
145.68
26.96
38.63
30.6
29.86
31.23
35.67
81.5
37.75
56.18
21.5
80.72
31.68
82.94
118
53
38.23
33.49
34.14
34.96
61.2
86.73
15.22
155.66
24.73
46.45
31.93
29.81
35.66
44.69
82.1
38.5
52.85
24.33
78.76
32.16
75.53
123.63
37.5
44.44
29.58
33.44
33.4
69.72
85.57
15.83
151.81
30.96
47.19
34.78
31.27
37.7
32.93
95.06
45.34
56.26
19.5
71.57
34.3
78.29
134.28
44.46
45.57
36.44
34.53
32.08
73.8
91.45
15.98
46.96
11.69
1
12.15
18.38
214.17
4.69
28.69
42.93
26.20
6.48
68.28
64.50
71.76
89.85
2.36
130.08
34.40
181.81
14.88
248.21
416.99
18.90
Q2 2012
Q3 2012
Shorts
New
Dropped
Longs
New
Dropped
Shorts
New
Dropped
Dropped
Cut Long
Cut Long
1 Cut Short
New Long
New Long
1
1
1 Went Long
New Long
Cut Long
New Short
Went Short
New Long
1
Cut Long
1 Went Long
1 Cut Short
1
1
1
1
1
1
New Short
Cut Long
Cut Long
New Long
Went Short
Went Short
1 Cut Short
1 Went Long
New Long
New Long
Cut Long
New Long
Cut Long
1
New Short
New Long
1
1
1 Went Long
1
Went Short
Went Short
1 Went Long
New Short
Cut Long
New Long
Cut Long
1 Went Long
1 Went Long
New Short
1
New Short
Went Short
1
Cut Long
1 Went Long
1
1
New Short
1 Went Long
1 Went Long
Went Short
New Short
Cut Long
New Short
New Long
1
1
Cut Long
Cut Long
1
1
1 Cut Short
1
New Long
1 Cut Short
1
1
1
New Short
New Short
New Long
New Long
New Long
1
1
1
1
New
New
New
New
New Short
New Short
1 Went Long
1
1
1
1
New Short
Went Short
New Short
New Long
1 Cut Short
1
1
1
Long
Long
Long
Long
New Long
1 Went Long
Went Short
1
New Long
New Long
1 Went Long
New Short
1
1
Cut Long
New Long
1
1
1
New Long
1
1
1
1
New Long
New Short
New Short
1
1
1 Went Long
1
1
1
Cut Long
New Short
Cut Long
New Long
Cut Long
New Short
Cut Long
1 Cut Short
Cut Long
Cut Long
Cut Long
Went Short
1 Went Long
7/31/2003
8/31/2003
9/30/2003
10/31/2003
11/30/2003
12/31/2003
1/31/2004
2/29/2004
3/31/2004
4/30/2004
5/31/2004
6/30/2004
7/31/2004
8/31/2004
9/30/2004
10/31/2004
11/30/2004
12/31/2004
1/31/2005
2/28/2005
3/31/2005
4/30/2005
5/31/2005
6/30/2005
7/31/2005
8/31/2005
9/30/2005
10/31/2005
11/30/2005
12/31/2005
1/31/2006
2/28/2006
3/31/2006
4/30/2006
5/31/2006
6/30/2006
7/31/2006
8/31/2006
9/30/2006
10/31/2006
11/30/2006
12/31/2006
1/31/2007
2/28/2007
3/31/2007
4/30/2007
5/31/2007
6/30/2007
7/31/2007
8/31/2007
SPY
XLE
XLB
XLI
XLY
XLP
XLV
XLF
S&P 500 SPDR
ENERGY SELECT
MATERIALS
SECTOR
INDUSTRIAL
SELECT
SPDR
SECTOR
CONSUMER
SELECT
SPDR
CONSUMER
SECT
DISCRETIONARY
SPDR
HEALTH
STAPLES
CARE
SELT
FINANCIAL
SPDR
SELECT
SELECT
SECTOR
SECTOR S
82.74
20.46
18.46
19.74
24.88
16.53
25.04
21.01
84.45
21.76
18.97
20.51
26.16
16.81
24.11
20.76
83.53
21.32
18.12
19.95
24.91
16.74
24.18
20.94
88
21.52
19.85
21.18
27.17
17.5
24.34
22.39
88.96
21.69
20.29
21.6
27.42
17.71
24.86
22.31
93.43
24.53
22.28
23.03
28.52
18.02
26.3
23.32
95.28
25.08
21.3
23.26
28.35
18.02
27.03
24.09
96.57
26.4
22.41
23.09
28.97
19.05
27.31
24.77
95.29
26.23
21.89
22.81
28.79
19
26.18
24.49
93.49
26.68
20.88
22.8
28.46
19.25
26.99
23.42
95.09
26.6
21.46
23.36
28.65
19.14
26.9
23.82
96.85
28.26
22.54
24.8
28.72
19.25
26.8
23.93
93.73
29.13
22.03
24.11
27.63
18.3
25.36
23.42
93.96
28.68
22.4
24.13
27.58
18.62
25.77
24.18
94.9
31.48
23.3
24.65
28.37
18.13
25.32
23.95
96.13
31.67
23.08
24.9
29.52
18.25
24.76
24.08
100.4
33.8
24.96
26.46
30.75
18.7
25.24
24.83
103.43
32.85
25.29
27.12
32.19
19.4
26.64
25.86
101.11
33.96
24.52
26.36
30.81
19.63
25.81
25.3
103.22
39.66
26.45
26.66
30.65
19.6
26.58
25.13
101.34
38.9
25.74
26.65
30.29
19.43
26.44
24.17
99.44
36.8
23.91
25.68
28.36
19.23
27.36
24.21
102.64
37.82
23.76
26.49
30.12
19.67
27.7
24.93
102.8
40.46
23.28
25.8
29.99
19.29
27.56
25.24
106.73
43.33
24.57
26.78
31.69
19.91
28.18
25.63
105.73
46.1
23.54
26.15
30.65
19.57
28.08
25.22
106.58
49
23.72
26.59
29.77
19.84
27.92
25.43
104.06
44.57
23.77
26.21
29.17
19.75
27.07
26.21
108.63
45.24
25.59
27.73
30.33
19.93
27.4
27.46
108.42
46.05
26.32
27.86
30.07
19.95
28.35
27.46
111.03
52.78
27.59
27.94
30.61
19.98
28.71
27.7
111.66
47.91
27
28.81
30.83
20.16
29.04
28.29
113.51
49.94
28.26
30.09
31.01
20.32
28.67
28.38
114.94
52.46
29.26
30.74
31.41
20.52
27.78
29.6
111.48
51
28.08
30.21
30.88
20.56
27.2
28.49
111.77
52.1
28.23
30.17
30.83
20.94
27.21
28.36
112.27
53.84
27.17
28.46
29.8
21.27
28.7
29.01
114.72
51.11
27.99
28.78
30.39
22.09
29.51
29.35
117.82
49.24
27.99
29.88
32.33
22.08
29.97
30.53
121.53
51.34
29.67
30.72
34.42
22.47
30.07
31.24
123.95
55.74
30.96
31.47
34.86
22.28
30.03
31.46
125.6
54.01
30.82
31.38
35.48
22.73
30.24
32.4
127.49
53.51
32.07
32.03
36.5
23.19
31.16
32.7
124.99
52.46
32.92
31.67
35.41
22.83
30.44
31.74
126.44
55.71
33.7
31.93
35.24
23.3
30.5
31.55
132.04
58.57
34.21
33.41
36.08
23.96
32.73
32.77
136.52
63.12
36.23
35.14
37.16
24.28
33.29
33.56
134.52
63.95
36.03
35.15
36.51
23.8
32.17
32.21
130.31
63.96
35.07
35.49
34.35
23.12
30.64
29.29
131.98
64.73
34.83
35.5
34.56
23.67
31.34
30.05
9/30/2007
10/31/2007
11/30/2007
12/31/2007
1/31/2008
2/29/2008
3/31/2008
4/30/2008
5/31/2008
6/30/2008
7/31/2008
8/31/2008
9/30/2008
10/31/2008
11/30/2008
12/31/2008
1/31/2009
2/28/2009
3/31/2009
4/30/2009
5/31/2009
6/30/2009
7/31/2009
8/31/2009
9/30/2009
10/31/2009
11/30/2009
12/31/2009
1/31/2010
2/28/2010
3/31/2010
4/30/2010
5/31/2010
6/30/2010
7/31/2010
8/31/2010
9/30/2010
10/31/2010
11/30/2010
12/31/2010
1/31/2011
2/28/2011
3/31/2011
4/30/2011
5/31/2011
6/30/2011
7/31/2011
8/31/2011
9/30/2011
10/31/2011
11/30/2011
12/31/2011
137.09
138.95
133.57
132.07
124.08
120.88
119.79
125.5
127.4
116.75
115.7
117.49
106.43
88.85
82.66
83.47
76.62
68.39
74.08
81.44
86.2
86.15
92.57
95.99
99.4
97.49
103.49
105.47
101.64
104.81
111.19
112.91
103.94
98.56
105.29
100.55
109.56
113.74
113.74
121.35
124.18
128.49
128.51
132.23
130.74
128.54
125.97
119.04
110.78
122.87
122.37
123.65
69.51
71.28
68.28
73.93
64.85
70.86
69.2
76.39
80.36
82.89
69.7
69.94
59.5
48.31
47.26
44.9
44.1
38.66
40.11
43.25
48.82
45.63
48.07
48.59
51.43
52.7
54.19
54.67
52.26
53.84
55.16
57.45
50.87
47.86
51.87
49.32
54.25
57.33
60.69
66.34
71.11
76.35
77.78
78.5
75.21
73.76
74.84
67.19
57.5
68.51
69.65
68.23
37.64
39.2
37.23
37.63
36.05
36.88
36.36
38.3
40.29
37.94
36.72
36.14
30.55
23.71
21.17
20.8
19.26
17.72
20.44
23.62
25
23.87
26.94
27.58
28.74
27.25
30.19
30.82
28.15
29.42
31.68
31.75
28.72
26.62
30.03
29.12
31.38
33.31
33.69
37.07
37.1
38.08
38.75
39.57
38.49
38.33
37.01
34.41
28.74
33.72
33.79
33.02
37.18
36.7
35.66
35.61
33.65
32.96
34.16
35.16
35.47
31.21
31.46
32.32
28.42
23.23
21.32
21.61
19.02
15.78
17.17
20.27
20.95
20.59
22.39
23.46
24.83
23.84
25.93
26.37
25.98
27.36
29.64
30.9
28.09
26.16
28.88
26.88
29.98
30.84
31.25
33.59
34.91
35.65
36.45
37.44
36.41
36.21
33.72
31.5
28.57
32.68
33.14
33.22
34.26
34.09
32.23
30.63
30.52
29.34
28.82
29.5
30.31
26.81
26.86
28.71
26.36
21.71
19.36
20.38
18.22
16.56
18.66
22.12
21.96
22.02
24.11
24.95
26.29
25.67
27.39
28.65
27.82
29.37
31.6
33.51
31.15
28.12
30.35
29.14
32.36
34.15
35.01
36.44
36.22
38.39
38.17
39.64
39.53
39.44
38.89
36.85
34.31
38.41
38.13
38.63
24.75
25.13
25.82
25.61
24.19
24.12
24.91
24.72
25.47
24.02
24.6
25.27
24.95
21.8
21.76
21.58
20.02
18.4
19.19
20
21.02
21.06
22.47
22.74
23.49
23.84
24.71
24.66
24.41
25.18
26.02
25.74
24.55
23.92
25.31
24.84
26.34
27.19
26.76
27.94
27.53
28.33
28.68
30.21
30.97
30.15
29.76
29.82
28.84
30.18
31.01
31.87
32.32
32.93
33.35
32.4
30.93
30.1
28.73
29.02
29.57
28.32
29.59
30.2
27.96
24.75
23.18
24.7
24.4
21.38
22.66
22.63
24.18
24.75
26.22
26.93
27.09
26.52
28.99
29.52
29.72
29.83
30.53
29.34
27.43
26.93
27.28
26.83
29.27
29.92
29.06
30.39
30.57
31.52
32.09
34.16
35
34.61
33.23
32.53
31.07
32.86
33.18
34.16
30.78
30.25
27.81
26.18
26.38
23.38
22.69
24.28
22.59
18.65
19.91
19.72
18.48
14.43
11.77
11.81
8.72
7.17
8.39
10.22
11.65
11.44
12.46
14.08
14.35
13.5
14.08
13.88
13.67
14.15
15.38
15.58
14.15
13.34
14.21
13.1
13.9
14.1
14
15.5
15.94
16.38
15.97
15.96
15.43
15.01
14.47
13.08
11.59
13.25
12.57
12.84
1/31/2012
2/29/2012
3/31/2012
4/30/2012
5/31/2012
6/30/2012
7/31/2012
8/31/2012
9/30/2012
10/31/2012
129.38
135
139.34
138.41
130.1
135.38
136.98
140.41
143.97
141.35
69.77
73.9
71.09
70.58
63.04
66.07
69.34
71.21
73.43
71.96
36.65
36.44
36.58
36.28
33.46
35.11
34.66
35.46
36.8
36.11
35.65
36.65
37
36.6
34.28
35.44
35.58
36.13
36.53
36.32
40.91
42.76
44.77
45.29
42.8
43.63
43.39
45.39
46.79
45.92
31.42
32.6
33.61
33.71
33.31
34.53
35.38
35.21
35.83
35.35
35.25
35.63
37.22
37.12
35.78
37.82
38.2
38.65
40.12
40.32
13.89
14.58
15.66
15.29
13.89
14.58
14.6
15.1
15.59
15.8
XLK
XLT
XLU
^GSPC
TECHNOLOGY
TELECOMMUNIATION
SELECT
UTILITIES
SECT SPDR
SELECT
S&P500
SERVICES
SECTOR SPDR
15.81
100
15.14
990.31
16.56
100
15.44
1008.01
16.42
100
16.21
995.97
17.62
100
16.32
1050.71
17.88
100
16.36
1058.2
18.44
100
17.43
1111.92
19.22
100
17.79
1131.13
18.73
100
18.13
1144.94
18.27
100
18.32
1126.21
17.57
100
17.54
1107.3
18.26
100
17.75
1120.68
18.76
100
18.05
1140.84
17.62
100
18.33
1101.72
16.84
100
19.07
1104.24
17.36
100
19.19
1114.58
18.12
100
20.13
1130.2
19.05
100
21.03
1173.82
19.55
100
21.54
1211.92
18.44
100
22
1181.27
18.47
100
22.47
1203.6
18.11
100
22.72
1180.59
17.47
100
23.42
1156.85
18.68
100
23.41
1191.5
18.44
100
24.8
1191.33
19.49
100
25.36
1234.18
19.3
100
25.52
1220.33
19.35
100
26.6
1228.81
18.91
100
24.9
1207.01
20.1
100
24.86
1249.48
19.48
100
25.07
1248.29
20.14
100
25.68
1280.08
20.18
100
26.02
1280.66
20.64
100
24.81
1294.87
20.37
100
25.21
1310.61
19.05
100
25.62
1270.09
18.95
100
26.2
1270.2
18.46
100
27.46
1276.66
19.75
100
28.22
1303.82
20.55
100
27.81
1335.85
21.36
100
29.28
1377.94
21.97
100
30.05
1400.63
21.73
100
30.04
1418.3
22.17
100
29.93
1438.24
21.57
100
31.52
1406.82
21.78
100
32.65
1420.86
22.81
100
34.26
1482.37
23.96
100
34.41
1530.62
23.93
100
32.78
1503.35
23.88
100
31.47
1455.27
24.34
100
31.97
1473.99
25.26
26.6
24.6
25.09
21.88
20.84
21.08
22.4
23.86
21.63
21.1
21.47
18.8
15.77
14.44
14.6
13.9
13.37
14.87
16.42
16.8
17.41
18.84
19.14
20.03
19.78
20.88
22.09
20.19
20.89
22.25
22.53
20.84
19.72
21.19
20
22.33
23.62
23.23
24.53
25.3
25.86
25.46
26.12
25.85
25.21
25.31
23.97
23.24
25.61
25.22
25.17
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
33.19
35.4
35.64
35.57
32.96
31.61
32.11
33.75
34.97
34.7
32.47
32.11
28.59
24.87
25.91
25.29
25.24
22.08
22.5
22.77
23.58
24.84
25.78
26.04
26.4
25.55
26.78
28.25
26.89
26.54
27.01
27.72
26.19
26.01
27.95
28.35
29.17
29.49
28.6
29.48
29.84
30.21
30.28
31.5
32.18
32.13
31.83
32.53
32.6
33.79
34.14
35.28
1526.75
1549.38
1481.14
1468.36
1378.55
1330.63
1322.7
1385.59
1400.38
1280
1267.38
1282.83
1166.36
968.75
896.24
903.25
825.88
735.09
797.87
872.81
919.14
919.32
987.48
1020.62
1057.08
1036.19
1095.63
1115.1
1073.87
1104.49
1169.43
1186.69
1089.41
1030.71
1101.6
1049.33
1141.2
1183.26
1180.55
1257.64
1286.12
1327.22
1325.83
1363.61
1345.2
1320.64
1292.28
1218.89
1131.42
1253.3
1246.96
1257.6
3.536693
3.582128
3.629833
3.623675
3.664927
3.665199
3.617795
3.648312
3.722995
3.742675
3.61786
3.544151
3.609436
3.518172
3.625965
3.667659
3.670864
3.754822
3.811742
3.853493
3.833541
3.845488
3.801503
3.761543
3.754227
3.641848
3.547216
3.680764
3.654845
3.653796
26.73
28.63
29.92
29.58
27.71
28.61
29.14
30.36
30.83
28.99
100
100
100
100
100
100
100
100
100
100
34
34.21
34.35
34.96
35.16
36.6
37.52
35.97
36.39
36.58
1312.41
1365.68
1408.47
1397.91
1310.33
1362.16
1379.32
1406.58
1440.67
1411.94
3.702144
3.777815
3.815854
3.79012
3.676674
3.718497
3.743371
3.778387
3.802444
3.761262
51
50
49
48
47
46
45
44
43
42
41
40
39
38
37
36
35
34
33
32
31
30
29
28
27
26
25
24
23
22
21
20
19
18
17
16
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
3.92%
3.57%
3.38%
3.24%
3.12%
3.03%
2.94%
2.87%
2.80%
2.73%
2.67%
2.61%
2.56%
2.50%
2.45%
2.40%
2.36%
2.31%
2.26%
2.22%
2.18%
2.13%
2.09%
2.05%
2.00%
1.96%
1.92%
1.88%
1.83%
1.79%
1.75%
1.70%
1.66%
1.61%
1.57%
1.52%
1.47%
1.42%
1.37%
1.31%
1.25%
1.19%
1.13%
1.06%
0.98%
0.89%
0.80%
0.68%
0.54%
0.35%
1.96%
1.79%
1.69%
1.62%
1.56%
1.51%
1.47%
1.43%
1.40%
1.36%
1.33%
1.31%
1.28%
1.25%
1.23%
1.20%
1.18%
1.15%
1.13%
1.11%
1.09%
1.07%
1.04%
1.02%
1.00%
0.98%
0.96%
0.94%
0.92%
0.89%
0.87%
0.85%
0.83%
0.81%
0.78%
0.76%
0.73%
0.71%
0.68%
0.66%
0.63%
0.60%
0.56%
0.53%
0.49%
0.45%
0.40%
0.34%
0.27%
0.17%
0.17%
0.27%
0.34%
0.40%
0.45%
0.49%
0.53%
0.56%
0.60%
0.63%
0.66%
0.68%
0.71%
0.73%
0.76%
0.78%
0.81%
0.83%
0.85%
0.87%
0.89%
0.92%
0.94%
0.96%
0.98%
1.00%
1.02%
1.04%
1.07%
1.09%
1.11%
1.13%
1.15%
1.18%
1.20%
1.23%
1.25%
1.28%
1.31%
1.33%
1.36%
1.40%
1.43%
1.47%
1.51%
1.56%
1.62%
1.69%
1.79%
1.96%
51
0.00%
100.00%
0.00%
50.00%
0.00%
50.00%

POD For GS VIP Hedge Fund Indices (Q3 2012)

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POD For GS VIP Hedge Fund Indices (Q3 2012)

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Weighted by No and Value

Weighted by No and Value

Long Short Equities Hedge Fund Index

Long Short Equities Hedge Fund Index

14% Health Care

TOTAL Main Sector ("GICS")

PORT Information Technology

SECT SIZE STYLE

Main Sector ("GICS")

< Actual perf attribution - will p

<POD5 Array function

< Note array formula use CTR

10% Avg POD

Main Sector ("GICS")

< Actual perf attribution - will probably build this into v2

<POD5 Array function

Exxon Mobil Corp. 1.09%

TOTAL Main Sector ("GICS")

PORT Information Technology

SECT SIZE STYLE

Main Sector ("GICS")

< Actual perf attribution - will p

<POD5 Array function

< Note array formula use CTR

15% Avg POD

Main Sector ("GICS")

< Actual perf attribution - will probably build this into v2

<POD5 Array function

Contrib to Q3 Return NO CODE

POD Long / Short

TOTAL Main Sector ("GICS")

< Actual perf attribution - will probably build this into v2

<POD5 Array function

< eg add MICRO to size vector (L4:L230

50 Exxon Mobil Corp.

No of Funds with Stock in top 10

Integrated Oil & Gas

Managed Health Care

Main SectorSub-sector (Mkt Cap $ bil)

Health CareHealth Care Services9

Sub-sector (Mkt Cap $ bil)

Host Hotels & Resorts

Financials Specialized REITs 11

Simon Property Group Inc

Main Sector ("GICS")

31-Dec-11 31-Mar-12 30-Jun-12 30-Sep-12

Mkt Cap Longs

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