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Institutional Investment Manager
DAVIDSON INVESTMENT ADVISORS
DAVIDSON INVESTMENT ADVISORS (CIK: 0001140771) incorporated in Montana, located at 8 Third Street North, Great Falls, MT. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q3)
Portfolio Summary: 206 holdings with a total value of $552,543,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 ALLEGHENY TECHNOLOGIES INC 316,830 4,490,000 0.81%
52 BUFFALO WILD WINGS INC 23,044 4,455,000 0.81%
53 HAEMONETICS CORP MASS COM 136,950 4,424,000 0.80%
54 PLUM CREEK TIMBER 111,818 4,416,000 0.80%
55 LEVEL 3 COMM 98,108 4,283,000 0.78%
56 AMGEN INC 30,798 4,258,000 0.77%
57 REDWOOD TR INC 302,667 4,186,000 0.76%
58 CATERPILLAR INC 62,540 4,085,000 0.74%
59 DU PONT E I DE NEMOURS & CO 84,398 4,066,000 0.74%
60 PRAXAIR INC 38,939 3,963,000 0.72%
61 WAL-MART STORES INC 61,092 3,959,000 0.72%
62 STARWOOD WAYPOINT RESIDENTIAL 159,748 3,805,000 0.69%
63 FORD MTR CO DEL 277,738 3,765,000 0.68%
64 MDU RES GROUP INC 211,868 3,641,000 0.66%
65 BAKER HUGHES INC 69,814 3,631,000 0.66%
66 ALLIANCE DATA SYSTEMS CORP 13,699 3,546,000 0.64%
67 FEDEX CORP 23,889 3,437,000 0.62%
68 BAXTER INTL INC 102,700 3,371,000 0.61%
69 BAXALTA INC COM 102,675 3,232,000 0.58%
70 LAS VEGAS SANDS CORP 82,765 3,141,000 0.57%
71 COMCAST CORP NEW 49,568 2,816,000 0.51%
72 ROYAL DUTCH SHELL PLC 54,907 2,599,000 0.47%
73 XILINX INC 60,829 2,577,000 0.47%
74 Terreno Realty Corp 122,907 2,410,000 0.44%
75 CoBiz Financial Inc 176,024 2,287,000 0.41%
76 CAMDEN PROPERTY TRUS 29,952 2,210,000 0.40%
77 First Cash Finl Svcs I 53,187 2,128,000 0.39%
78 CAPELLA EDUCATION 41,505 2,053,000 0.37%
79 REALPAGE INC COM 120,137 1,994,000 0.36%
80 POTLATCHDELTIC CORPORATION 68,940 1,982,000 0.36%
81 MARATHON OIL CORP 124,368 1,913,000 0.35%
82 ALASKA AIR GROUP INC 23,185 1,840,000 0.33%
83 ISHARES TR 16,548 1,812,000 0.33%
84 SIMPSON MFG INC COM 53,525 1,789,000 0.32%
85 WOODWARD INC 43,955 1,786,000 0.32%
86 SELECT COMFORT CORP 80,085 1,750,000 0.32%
87 MASIMO CORP 44,710 1,720,000 0.31%
88 U S PHYSICAL THERAPY COM 37,860 1,695,000 0.31%
89 AIRGAS INC 17,325 1,545,000 0.28%
90 SPROUTS FMRS MKT INC 66,700 1,404,000 0.25%
91 GREEN DOT CORP CL A 79,020 1,389,000 0.25%
92 ATHENA HEALTH INC. 10,243 1,363,000 0.25%
93 VALSPAR CORP 18,285 1,311,000 0.24%
94 FLIR SYS INC 45,975 1,284,000 0.23%
95 INNERWORKINGS INC 196,030 1,222,000 0.22%
96 SPS COMM INC 18,012 1,219,000 0.22%
97 LPL FINL HLDGS INC 30,570 1,213,000 0.22%
98 Textura Corp 44,915 1,157,000 0.21%
99 IROBOT CORP 39,540 1,149,000 0.21%
100 HORIZON PHARMA PLC 57,065 1,129,000 0.20%
Page 2 of 5

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001140771-15-000011, filed 2015.11.13).

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.