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Institutional Investment Manager
UNITED SERVICES AUTOMOBILE ASSOCIATION
UNITED SERVICES AUTOMOBILE ASSOCIATION (CIK: 0001021249) incorporated in Texas, located at 9800 Fredericksburg Rd, San Antonio, TX. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q4)
Portfolio Summary: 1,350 holdings with a total value of $28,081,468,000.
#
Name
Shares
Value ($)
%
Options
Notes
151 UNITED CONTL HLDGS INC 787,696 45,135,000 0.16%
152 WELLTOWER INC 660,783 44,953,000 0.16%
153 AMERIPRISE FINL INC 419,460 44,639,000 0.16%
154 NIKE INC 710,918 44,432,000 0.16%
155 EXPRESS SCRIPTS HLDG CO 507,318 44,345,000 0.16%
156 ANTHEM INC 316,949 44,195,000 0.16%
157 SEI INVESTMENTS CO 839,658 43,998,000 0.16%
158 AETNA INC NEW 401,236 43,382,000 0.15%
159 HSBC HLDGS PLC 1,092,452 43,119,000 0.15%
160 CMS ENERGY CORP 1,186,037 42,792,000 0.15%
161 INTERCONTINENTAL EXCHANGE IN 166,259 42,605,000 0.15%
162 AVAGO TECHNOLOGIES LTD SHS 291,252 42,275,000 0.15%
163 GOLDMAN SACHS GROUP INC 234,450 42,255,000 0.15%
164 ISHARES TR 644,100 41,480,000 0.15%
165 WISDOMTREE TR 828,100 41,471,000 0.15%
166 HOLOGIC INC 1,051,419 40,679,000 0.14%
167 BLACKROCK INC 118,259 40,270,000 0.14%
168 HUNTSMAN CORP 3,529,487 40,130,000 0.14%
169 MONDELEZ INTL INC 893,811 40,078,000 0.14%
170 PEOPLES UNITED FINANCIAL INC 2,469,179 39,877,000 0.14%
171 CRH PLC 1,381,305 39,809,000 0.14%
172 PHILLIPS 66 484,553 39,636,000 0.14%
173 PAYPAL HLDGS INC 1,080,630 39,119,000 0.14%
174 AUTODESK INC 640,860 39,048,000 0.14%
175 ISHARES TR 601,400 39,013,000 0.14%
176 EDISON INTL 658,899 39,013,000 0.14%
177 EXPEDITORS INTL WASH INC 862,330 38,891,000 0.14%
178 POWERSHARES DB CMDTY IDX TRA 2,907,800 38,848,000 0.14%
179 WEC ENERGY GROUP INC 757,011 38,842,000 0.14%
180 INTERNATIONAL BUSINESS MACHS 279,032 38,400,000 0.14%
181 FREEPORT-MCMORAN INC 5,650,027 38,251,000 0.14%
182 O REILLY AUTOMOTIVE INC NEW 150,473 38,133,000 0.14%
183 WISDOMTREE TR 1,078,823 37,845,000 0.13%
184 VANGUARD SCOTTSDALE FDS 447,877 37,662,000 0.13%
185 REGENERON PHARMACEUTICALS 68,499 37,186,000 0.13%
186 VANGUARD SCOTTSDALE FDS 441,329 37,151,000 0.13%
187 LILLY ELI & CO 439,553 37,037,000 0.13%
188 AIR PRODS & CHEMS INC 278,767 36,270,000 0.13%
189 BAIDU INC 191,115 36,128,000 0.13%
190 ST JUDE MED INC 581,246 35,904,000 0.13%
191 SPIRIT AEROSYSTEMS HLDGS INC 706,700 35,384,000 0.13%
192 UNILEVER N V 811,264 35,144,000 0.13%
193 SOUTHERN CO 750,525 35,117,000 0.13%
194 TEVA PHARMACEUTICAL INDS LTD 529,146 34,733,000 0.12%
195 SANOFI 810,284 34,559,000 0.12%
196 ALLIANCE DATA SYSTEMS CORP 124,934 34,553,000 0.12%
197 WISDOMTREE TR 1,732,847 34,414,000 0.12%
198 ALEXION PHARMACEUTIC 180,369 34,405,000 0.12%
199 SALESFORCE COM INC 435,226 34,122,000 0.12%
200 VARIAN MED SYS INC 420,363 33,965,000 0.12%
Page 4 of 27

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001140361-16-052812, filed 2016.02.16).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.