BlackRock Investment Management, LLC

CIK 0001305227 · Q4 2016

13F Equity AUM

$86.4T

+106099.4% QoQ

Positions

3,291

+14 QoQ

AUM Rank

—

Skill Alpha (FF)

+2.2%/yr^ns

No Clear Edge

Rank #1,285 · Top 16%

vs S&P +2.1%/yr (unadj.)

Quarters Tracked

~4 years

Portfolio Concentration

Top 5: 8.3%Top 10: 13.8%Top 20: 22.4%

AAPL2.1%

MSFT2.1%

JPM1.6%

AMZN1.3%

TRVC1.2%

GOOGL1.2%

XOM1.2%

PFE1.1%

WFC1.0%

UNH1.0%

Others (3281)86.2%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services18.1%

Unclassified12.6%

Technology12.6%

Healthcare11.8%

Industrials8.9%

Consumer Cyclical7.6%

Communication Services7.2%

Energy6.7%

Other14.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 3291Median: 0.01%Avg: 0.03%

0–0.5%

3260(71.0%)

0.5–1%

23(17.1%)

1–3%

8(11.8%)

3–5%

0(0.0%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 3,275Unique: 16vs 20 funds

58%High

3,291

Fund positions

5,629

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 10 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock Fund Advisors

87.2%

BLACKROCK ADVISORS LLC

88.9%

TEACHERS ADVISORS, LLC

90.4%

TIAA CREF INVESTMENT MANAGEMENT LLC

89.5%

PARAMETRIC PORTFOLIO ASSOCIATES LLC

64.3%

BlackRock Group LTD

74.7%

Aperio Group, LLC

55.3%

PEAK6 Investments, L.P.

49.9%

OppenheimerFunds, Inc.

48.2%

Commonwealth Equity Services, Inc

29.2%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New134Increased1973Decreased1198Exited128

New Positions

XOGEUR0.1%

+5.4M

BTUSD0.1%

+1.7M

TIIAY0.0%

+2.0M

LW0.0%

+474K

ENVISION HEALTHCARE …0.0%

+260K

ARNCCHF0.0%

+987K

ILG INC0.0%

+601K

QUALITY CARE PPTYS I…0.0%

+324K

ATHENE HLDG LTD0.0%

+154K

YUMC0.0%

+369K

Increased

BAC0.9%

+7.5M(+27%)

DAL0.3%

+2.5M(+80%)

MSFT2.1%

+1.6M(+6%)

BBVA0.0%

+1.5M(+42%)

COUSINS PPTYS INC0.0%

+1.4M(+150%)

ACWI0.1%

+1.4M(+4139%)

ZTS0.1%

+1.1M(+101%)

NKE0.3%

+990K(+21%)

ICE0.1%

+970K(+420%)

COTY0.0%

+872K(+426%)

Decreased

LYG0.0%

-2,225,960(-16%)

AZN0.2%

-2,076,564(-26%)

GE0.9%

-2,000,472(-7%)

LBTYK0.0%

-1,905,486(-90%)

GNW0.0%

-1,816,209(-34%)

META0.9%

-1,433,938(-17%)

CRM0.1%

-1,209,910(-47%)

VOD0.0%

-1,159,541(-77%)

HABTEUR0.0%

-1,148,593(-96%)

MRK0.6%

-1,128,799(-11%)

Exited

-2,874,388

INGM

-440,586

ISHARES

-1,056,087

CEPHEID

-273,294

ERIC

-1,465,141

TLN

-554,929

RACKSPACE HOSTING IN…

-346,159

DONNELLEY R R & …

-268,297

ISHARES TR

-701,854

PARKWAY PPTYS INC

-369,406

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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