BLACKROCK ADVISORS LLC

CIK 0001086364 · Q4 2016

13F Equity AUM

$98.8T

+101512.5% QoQ

Positions

3,199

-9 QoQ

AUM Rank

—

Skill Alpha (FF)

-7.2%/yr^ns

No Clear Edge

Rank #7,895 · Top 95%

vs S&P +5.1%/yr (unadj.)

Quarters Tracked

~4 years

Portfolio Concentration

Top 5: 11.2%Top 10: 18.3%Top 20: 26.9%

SPY3.5%

BAC2.1%

JPM2.0%

PFE1.8%

AAPL1.8%

GQ91.6%

TRVC1.6%

MSFT1.4%

HYG1.3%

UNH1.2%

Others (3189)81.7%

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

Sector Allocation

Financial Services25.4%

Healthcare14.1%

Unclassified12.6%

Technology9.7%

Energy8.1%

Industrials6.4%

Consumer Cyclical6.1%

Communication Services5.6%

Other12.1%

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

Position Sizing

Positions: 3199Median: 0.00%Avg: 0.03%

0–0.5%

3160(60.9%)

0.5–1%

27(18.6%)

1–3%

11(17.0%)

3–5%

1(3.5%)

5%+

0(0.0%)

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

Loading summary cards...

Portfolio Overlap

Shared: 3,168Unique: 31vs 20 funds

56.1%High

3,199

Fund positions

5,614

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 Investment Management, LLC

88.9%

BlackRock Fund Advisors

84.1%

TIAA CREF INVESTMENT MANAGEMENT LLC

86.3%

TEACHERS ADVISORS, LLC

86.6%

PARAMETRIC PORTFOLIO ASSOCIATES LLC

63.8%

BlackRock Group LTD

78.2%

Aperio Group, LLC

56.1%

PEAK6 Investments, L.P.

51.5%

OppenheimerFunds, Inc.

50%

Commonwealth Equity Services, Inc

28.3%

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

Loading overlap analysis...

Position Changes This Quarter

New133Increased1850Decreased1260Exited148

New Positions

FXI0.2%

+6.0M

XRT0.1%

+2.6M

IGIB0.1%

+596K

EWJ0.1%

+1.2M

VNQ0.0%

+407K

EWU0.0%

+891K

LRGF0.0%

+1.2M

XLB0.0%

+500K

ATHENE HLDG LTD0.0%

+611K

INTF0.0%

+1.2M

Increased

BAC2.1%

+9.3M(+11%)

PFE1.8%

+7.8M(+16%)

SPY3.5%

+5.4M(+53%)

IWM0.7%

+4.6M(+1022%)

HILTON WORLDWIDE HLD…0.1%

+4.4M(+714%)

POWERSHARES QQQ TRUS…0.7%

+4.3M(+380%)

XLF0.3%

+3.5M(+34%)

DAL0.4%

+3.4M(+80%)

DWD0.7%

+3.2M(+24%)

FE0.1%

+3.1M(+348%)

Decreased

GE0.8%

-12,262,123(-34%)

SPDR SERIES TRUST0.4%

-8,919,716(-47%)

ALLY0.1%

-7,827,580(-64%)

MU0.0%

-6,195,319(-78%)

GQ91.6%

-4,844,034(-25%)

TEVA0.1%

-4,652,768(-71%)

GNW0.0%

-4,372,077(-87%)

SLM0.1%

-4,147,022(-26%)

BSX0.2%

-3,539,189(-25%)

USB0.6%

-3,484,496(-23%)

Exited

AMERICAN CAP LTD

-10,911,215

ISHARES

-8,252,463

-2,126,667

-607,618

-55,291,480

-4,154,290

ISHARES TR

-1,782,913

DON

-135,000

MUB

-150,000

ERIC

-2,332,368

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

Loading position changes...

Holdings

Loading holdings...