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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 (2016Q3)
Portfolio Summary: 1,299 holdings with a total value of $29,512,254,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 POWERSHARES ETF TRUST 1,361,740 127,459,000 0.43%
52 WELLS FARGO & CO NEW 2,799,740 123,972,000 0.42%
53 COMCAST CORP NEW 1,842,976 122,263,000 0.41%
54 UNITED TECHNOLOGIES CORP 1,199,437 121,863,000 0.41%
55 VANGUARD INDEX FDS 914,117 118,323,000 0.40%
56 CVS HEALTH CORP 1,326,310 118,028,000 0.40%
57 TRUECAR INC 12,164,667 114,713,000 0.39%
58 VANGUARD INTL EQUITY INDEX F 2,325,006 113,298,000 0.38%
59 WAL-MART STORES INC 1,551,321 111,881,000 0.38%
60 SCHLUMBERGER LTD 1,420,956 111,744,000 0.38%
61 THERMO FISHER SCIENTIFIC INC 614,079 97,675,000 0.33%
62 POWERSHARES ETF TR II 5,416,838 97,070,000 0.33%
63 CITIGROUPINC 2,046,483 96,655,000 0.33%
64 GILEAD SCIENCES INC 1,219,478 96,485,000 0.33%
65 BERKSHIRE HATHAWAY INC DEL 667,249 96,397,000 0.33%
66 EATON CORP PLC 1,406,258 92,405,000 0.31%
67 YUM BRANDS INC 1,014,076 91,986,000 0.31%
68 DOW CHEM CO 1,761,365 91,292,000 0.31%
69 PNC FINL SVCS GROUP INC 1,011,303 91,108,000 0.31%
70 TAIWAN SEMICONDUCTOR MFG LTD 2,975,573 91,023,000 0.31%
71 JOHNSON CTLS INTL PLC 1,940,400 90,287,000 0.31%
72 KRAFT HEINZ CO 987,066 88,352,000 0.30%
73 ISHARES TR 1,277,240 86,393,000 0.29%
74 VANGUARD INTL EQUITY INDEX F 1,858,593 84,436,000 0.29%
75 REYNOLDS AMERICAN INC 1,766,321 83,282,000 0.28%
76 BOEING CO 626,244 82,501,000 0.28%
77 AMERICAN EXPRESS CO 1,285,004 82,292,000 0.28%
78 VANGUARD INDEX FDS 737,934 82,154,000 0.28%
79 DUKE ENERGY CORP NEW 1,005,819 80,506,000 0.27%
80 3M CO 456,581 80,463,000 0.27%
81 VANGUARD INDEX FDS 925,636 80,290,000 0.27%
82 RAYTHEON CO 578,695 78,778,000 0.27%
83 BROADCOM LTD 453,235 78,192,000 0.26%
84 ALLERGAN PLC 338,702 78,006,000 0.26%
85 CONOCOPHILLIPS 1,792,957 77,940,000 0.26%
86 DISNEY WALT CO 833,203 77,371,000 0.26%
87 CARDINAL HEALTH INC 994,317 77,258,000 0.26%
88 ISHARES 7-10 YEAR TREASURY BOND ETF 690,239 77,224,000 0.26%
89 VANGUARD SCOTTSDALE FDS 858,018 76,844,000 0.26%
90 ISHARES TR 1,278,687 75,609,000 0.26%
91 CARNIVAL CORP 1,524,970 74,449,000 0.25%
92 CME GROUP INC 710,698 74,282,000 0.25%
93 WALGREENS BOOTS ALLIANCE INC 875,672 70,597,000 0.24%
94 TIME WARNER INC 886,308 70,559,000 0.24%
95 PPL CORP 2,028,246 70,116,000 0.24%
96 ROYAL DUTCH SHELL PLC 1,391,906 69,693,000 0.24%
97 ACCENTURE PLC IRELAND 561,655 68,617,000 0.23%
98 ISHARES TR 584,256 68,060,000 0.23%
99 ISHARES TR 1,037,350 67,718,000 0.23%
100 MONSTER BEVERAGE CORP NEW 459,815 67,505,000 0.23%
Page 2 of 26

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0000950123-16-022104, filed 2016.11.14).

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.