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Investeringskommentar December 2016

Belningsvrdier Saxo Privatbank A/S

US markets

23. april 2018

Description Exchange ISIN Symbol Belningsvrdi 1-800 FLOWERS.COM, Inc. NASDAQ US68243Q1067 FLWS:xnas 60% 1st Source Corp. NASDAQ US3369011032 SRCE:xnas 60% 21st Century Fox Inc. - Class A NASDAQ US90130A1016 FOXA:xnas 40% 21st Century Fox Inc. - Class B NASDAQ US90130A2006 FOX:xnas 40% 2U Inc. NASDAQ US90214J1016 TWOU:xnas 80% 51job Inc. ADR NASDAQ US3168271043 JOBS:xnas 40% 8point3 Energy Partners LP NASDAQ US2825391053 CAFD:xnas 40% A. Schulman Inc. NASDAQ US8081941044 SHLM:xnas 20% Aaon Inc. NASDAQ US0003602069 AAON:xnas 80% ABAXIS Inc. NASDAQ US0025671050 ABAX:xnas 60% Abiomed Inc. NASDAQ US0036541003 ABMD:xnas 80% Ablynx NV NASDAQ US00372Y1055 ABLX:xnas 40% AC Immune Ltd NASDAQ CH0329023102 ACIU:xnas 60% Acacia Communications Inc. NASDAQ US00401C1080 ACIA:xnas 60% Acacia Research Corp. NASDAQ US0038813079 ACTG:xnas 40% Acadia Healthcare Co Inc. NASDAQ US00404A1097 ACHC:xnas 40% ACADIA Pharmaceuticals Inc. NASDAQ US0042251084 ACAD:xnas 60% Acceleron Pharma Inc. NASDAQ US00434H1086 XLRN:xnas 60% Accuray Inc. NASDAQ US0043971052 ARAY:xnas 40% Achillion Pharmaceuticals Inc. NASDAQ US00448Q2012 ACHN:xnas 40% ACI Worldwide Inc. NASDAQ US0044981019 ACIW:xnas 60% Aclaris Therapeutics Inc. NASDAQ US00461U1051 ACRS:xnas 60% Acorda Therapeutics Inc. NASDAQ US00484M1062 ACOR:xnas 40% Activision Inc. NASDAQ US00507V1098 ATVI:xnas 80% Acxiom Corp. NASDAQ US0051251090 ACXM:xnas 80% Adamas Pharmaceuticals Inc. NASDAQ US00548A1060 ADMS:xnas 40% Adaptimmune Therapeutics Plc NASDAQ US00653A1079 ADAP:xnas 40% Addus HomeCare Corp. NASDAQ US0067391062 ADUS:xnas 40% Adobe Systems Inc. NASDAQ US00724F1012 ADBE:xnas 80% ADTRAN Inc. NASDAQ US00738A1060 ADTN:xnas 60% Aduro Biotech Inc. NASDAQ US00739L1017 ADRO:xnas 60% Advanced Energy Industries Inc. NASDAQ US0079731008 AEIS:xnas 80% Aegion Corp. NASDAQ US00770F1049 AEGN:xnas 60% Aerie Pharmaceuticals Inc. NASDAQ US00771V1089 AERI:xnas 40% AeroVironment Inc. NASDAQ US0080731088 AVAV:xnas 60% Agios Pharmaceuticals Inc. NASDAQ US00847X1046 AGIO:xnas 60% AGNC Investment Corp. NASDAQ US00123Q1040 AGNC:xnas 80% Aimmune Therapeutics Inc. NASDAQ US00900T1079 AIMT:xnas 60% Air Transport Services Group Inc. NASDAQ US00922R1059 ATSG:xnas 80% Akamai Technologies Inc. NASDAQ US00971T1016 AKAM:xnas 80% Akebia Therapeutics Inc. NASDAQ US00972D1054 AKBA:xnas 40% Akorn Inc. NASDAQ US0097281069 AKRX:xnas 40% Alarm.com Holdings Inc. NASDAQ US0116421050 ALRM:xnas 80% Alder BioPharmaceuticals Inc. NASDAQ US0143391052 ALDR:xnas 60% Alexion Pharmaceuticals Inc. NASDAQ US0153511094 ALXN:xnas 60% Align Technology Inc. NASDAQ US0162551016 ALGN:xnas 80% Alkermes Inc. NASDAQ IE00B56GVS15 ALKS:xnas 60% Allegiant Travel Co. NASDAQ US01748X1028 ALGT:xnas 60% Alliance Holdings GP LP NASDAQ US01861G1004 AHGP:xnas 80% Alliance Resource Partners LP NASDAQ US01877R1086 ARLP:xnas 60% Allscripts Healthc Sol. Inc. NASDAQ US01988P1084 MDRX:xnas 60% Alnylam Pharmaceuticals Inc. NASDAQ US02043Q1076 ALNY:xnas 40% Alpha and Omega Semiconductor Ltd NASDAQ BMG6331P1041 AOSL:xnas 40% Alphabet Inc. - A Share NASDAQ US02079K3059 GOOGL:xnas 80% Alphabet Inc. - C Share NASDAQ US02079K1079 GOOG:xnas 80% Altisource Portfolio Solutions SA NASDAQ LU0445408270 ASPS:xnas 40% Altra Industrial Motion Corp. NASDAQ US02208R1068 AIMC:xnas 60% AMAG Pharmaceuticals Inc. NASDAQ US00163U1060 AMAG:xnas 20% Amazon.com Inc. NASDAQ US0231351067 AMZN:xnas 80% Ambac Financial Group Inc. NASDAQ US0231398845 AMBC:xnas 40% Ambarella Inc. NASDAQ KYG037AX1015 AMBA:xnas 80% AMC Networks Inc. NASDAQ US00164V1035 AMCX:xnas 60% Amdocs Ltd NASDAQ GB0022569080 DOX:xnas 80% Amedisys Inc. NASDAQ US0234361089 AMED:xnas 80% Amerco NASDAQ US0235861004 UHAL:xnas 80% America First Multifamily Investors LP NASDAQ US02364V1070 ATAX:xnas 40% American Airlines Group Inc. NASDAQ US02376R1023 AAL:xnas 60% American National Insurance Co. NASDAQ US0285911055 ANAT:xnas 80% American Outdoor Brands Corp. NASDAQ US02874P1030 AOBC:xnas 40% American Railcar Industries Inc. NASDAQ US02916P1030 ARII:xnas 60% American Woodmark Corp. NASDAQ US0305061097 AMWD:xnas 40% America's Car-Mart Inc. NASDAQ US03062T1051 CRMT:xnas 40% Ameris Bancorp NASDAQ US03076K1088 ABCB:xnas 60% AMERISAFE Inc. NASDAQ US03071H1005 AMSF:xnas 60%

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BELNINGSVRDIER SAXO PRIVATBANK A/S - US MARKETS

Amgen Inc. NASDAQ US0311621009 AMGN:xnas 60% Amgen Inc. Assented Dutch Tender NASDAQ US0311621009 LOCK-2172:xxxx 60% Amicus Therapeutics Inc. NASDAQ US03152W1099 FOLD:xnas 40% Amkor Technology Incorporated NASDAQ US0316521006 AMKR:xnas 60% Amphastar Pharmaceuticals Inc. NASDAQ US03209R1032 AMPH:xnas 60% Amtrust Financial Services Inc. NASDAQ US0323593097 AFSI:xnas 40% Analog Devices Inc. NASDAQ US0326541051 ADI:xnas 80% Analogic Corp. NASDAQ US0326572072 ALOG:xnas 60% AnaptysBio Inc. NASDAQ US0327241065 ANAB:xnas 40% Andersons Inc. NASDAQ US0341641035 ANDE:xnas 60% Angie's List Inc. NASDAQ US00183L1026 ANGI:xnas 40% AngioDynamics Inc. NASDAQ US03475V1017 ANGO:xnas 40% ANI Pharmaceuticals Inc. NASDAQ US00182C1036 ANIP:xnas 60% Anika Therapeutics Inc. NASDAQ US0352551081 ANIK:xnas 60% Ansys Inc. NASDAQ US03662Q1058 ANSS:xnas 80% Antares Pharma Inc. NASDAQ US0366421065 ATRS:xnas 40% Apellis Pharmaceuticals Inc. NASDAQ US03753U1060 APLS:xnas 40% Apogee Enterprises Inc. NASDAQ US0375981091 APOG:xnas 80% Apollo Investment Corporation Com NASDAQ US03761U1060 AINV:xnas 80% AppFolio Inc. NASDAQ US03783C1009 APPF:xnas 80% Appian Corp. NASDAQ US03782L1017 APPN:xnas 60% Apple Inc. NASDAQ US0378331005 AAPL:xnas 80% Applied Materials Inc. NASDAQ US0382221051 AMAT:xnas 80% Applied Optoelectronics Inc. NASDAQ US03823U1025 AAOI:xnas 20% Apptio Inc. NASDAQ US03835C1080 APTI:xnas 60% Aquinox Pharmaceuticals Inc. NASDAQ US03842B1017 AQXP:xnas 40% Aratana Therapeutics Inc. NASDAQ US03874P1012 PETX:xnas 20% ArcBest Corp. NASDAQ US03937C1053 ARCB:xnas 60% Arch Capital Group Ltd NASDAQ BMG0450A1053 ACGL:xnas 80% Archrock Partners LP NASDAQ US03957U1007 APLP:xnas 40% Ardelyx Inc. NASDAQ US0396971071 ARDX:xnas 20% Arena Pharmaceutical Inc. NASDAQ US0400476075 ARNA:xnas 60% Ares Capital Corp. NASDAQ US04010L1035 ARCC:xnas 80% Argo Group International Holdings Ltd NASDAQ BMG0464B1072 AGII:xnas 40% Array BioPharma Inc. NASDAQ US04269X1054 ARRY:xnas 40% ARRIS International Plc NASDAQ GB00BZ04Y379 ARRS:xnas 60% Arrowhead Pharmaceuticals Inc. NASDAQ US04280A1007 ARWR:xnas 40% Ascena Retail Group Inc. NASDAQ US04351G1013 ASNA:xnas 40% Ascendis Pharma NASDAQ US04351P1012 ASND:xnas 40% ASML Holding NV NASDAQ USN070592100 ASML:xnas 80% Aspen Technology Inc. NASDAQ US0453271035 AZPN:xnas 80% Astec Industries Inc. NASDAQ US0462241011 ASTE:xnas 60% Astronics Corp. NASDAQ US0464331083 ATRO:xnas 60% Atara Biotherapeutics Inc. NASDAQ US0465131078 ATRA:xnas 40% athenahealth Inc. NASDAQ US04685W1036 ATHN:xnas 60% Athenex Inc. NASDAQ US04685N1037 ATNX:xnas 60% Atlantic Capital Bancshares Inc. NASDAQ US0482692037 ACBI:xnas 40% Atlantica Yield Plc NASDAQ GB00BLP5YB54 AY:xnas 60% Atlas Air Worldwide Holdings NASDAQ US0491642056 AAWW:xnas 80% Atlassian Corporation Plc NASDAQ GB00BZ09BD16 TEAM:xnas 60% ATN International Inc. NASDAQ US00215F1075 ATNI:xnas 60% Atricure Inc. NASDAQ US04963C2098 ATRC:xnas 40% Atrion Corp. NASDAQ US0499041053 ATRI:xnas 60% Autodesk Inc. NASDAQ US0527691069 ADSK:xnas 80% Automatic Data Processing Inc. NASDAQ US0530151036 ADP:xnas 80% AV Homes NASDAQ US00234P1021 AVHI:xnas 40% Avenal River Limited NASDAQ US0000000168 LOCK-2165:xxxx 40% AveXis Inc. NASDAQ US05366U1007 AVXS:xnas 60% Avis Budget Group Inc. NASDAQ US0537741052 CAR:xnas 60% Axcelis Technologies NASDAQ US0545402085 ACLS:xnas 60% Axon Enterprise Inc. NASDAQ US05464C1018 AAXN:xnas 60% B Communications Ltd NASDAQ IL0011076630 BCOM:xnas 40% Baidu.com Inc. NASDAQ US0567521085 BIDU:xnas 80% Balchem Corp. NASDAQ US0576652004 BCPC:xnas 80% Ballard Power Systems Inc. NASDAQ CA0585861085 BLDP:xnas 40% Bancfirst Corp. NASDAQ US05945F1030 BANF:xnas 40% Bank Of The Ozarks Inc. NASDAQ US0639041062 OZRK:xnas 60% Banner Corp. NASDAQ US06652V2088 BANR:xnas 80% Baozun Inc. NASDAQ US06684L1035 BZUN:xnas 40% Barrett Business Services Inc. NASDAQ US0684631080 BBSI:xnas 40% Beacon Roofing Supply Inc. NASDAQ US0736851090 BECN:xnas 60% Bed Bath & Beyond NASDAQ US0758961009 BBBY:xnas 80% BeiGene Ltd NASDAQ US07725L1026 BGNE:xnas 60% Beneficial Mutual Bancorp Inc. NASDAQ US08171T1025 BNCL:xnas 60% Benefitfocus Inc. NASDAQ US08180D1063 BNFT:xnas 60% BGC Partners Inc. NASDAQ US05541T1016 BGCP:xnas 80% Biocryst Pharmaceuticals Inc. NASDAQ US09058V1035 BCRX:xnas 40% Biogen Inc. NASDAQ US09062X1037 BIIB:xnas 60% Biomarin Pharma NASDAQ US09061G1013 BMRN:xnas 40% BioSpecifics Technologies Corp. NASDAQ US0909311062 BSTC:xnas 40% Bio-Techne Corp. NASDAQ US09073M1045 TECH:xnas 60% BioTelemetry Inc. NASDAQ US0906721065 BEAT:xnas 60% BJ's Restaurants Inc. NASDAQ US09180C1062 BJRI:xnas 60% Blackbaud Inc. NASDAQ US09227Q1004 BLKB:xnas 80% Blackhawk Network Shs NASDAQ US09238E1047 HAWK:xnas 40% BlackLine Inc. NASDAQ US09239B1098 BL:xnas 60% BlackRock Capital Investment Corp. NASDAQ US0925331086 BKCC:xnas 40% BLDRS Europe 100 ADR Index Fund NASDAQ US09348R4092 ADRU:xnas 80% Bloomin' Brands Inc. NASDAQ US0942351083 BLMN:xnas 60%

SAXO PRIVATBANK A/S | TLF: +45 33 38 45 60 | WWW.PRIVATBANK.SAXO

BELNINGSVRDIER SAXO PRIVATBANK A/S - US MARKETS

Blucora Inc. NASDAQ US0952291005 BCOR:xnas 60% Blue Buffalo Pet Products Inc. NASDAQ US09531U1025 BUFF:xnas 40% Blue Hills Bancorp Inc. NASDAQ US0955731015 BHBK:xnas 40% Bluebird bio Inc. NASDAQ US09609G1004 BLUE:xnas 60% Blueprint Medicines Corp. NASDAQ US09627Y1091 BPMC:xnas 40% BMC Stock Holdings Inc. NASDAQ US05591B1098 BMCH:xnas 80% Bofi