INTEGRAL DERIVATIVES, LLC

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CIK 1451428

13F portfolio (2018-Q1)

$122M

Positions

142

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2017-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2018-Q1)

Holdings

142

Top 5

29.5%

Top 10

39.0%

Effective N

39.8

HHI

0.025

This quarter

62 new · 0 exit →

By sector

Unclassified19.8%

Information Technology16.4%

Industrials15.9%

Communication Services15.1%

Financials7.4%

Health Care6.5%

Energy6.0%

Consumer Discretionary5.6%

Other7.2%

By market cap

Mega (>$200B)38.8%

Large ($10–200B)36.0%

Unknown23.1%

Mid ($2–10B)2.0%

Small ($300M–2B)0.1%

By region

North America77.9%

Other19.8%

Asia-Pacific1.8%

Europe0.3%

Africa0.2%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	19.84%	50
Software & IT Services	9.85%	2
Software	7.79%	7
Road & Rail	6.09%	2
Oil, Gas & Consumable Fuels	5.95%	14
Pharmaceuticals & Biotechnology	5.53%	6
Transportation Infrastructure	5.33%	1
Media & Entertainment	4.84%	1
Technology Hardware & Equipment	3.44%	6
Semiconductors & Semiconductor Equipment	3.03%	7
Tobacco	3.03%	2
Banks	2.98%	3
Commercial Services & Supplies	2.64%	3
Hotels, Restaurants & Leisure	2.18%	4
Airlines	2.13%	5
Electrical Equipment & Components	1.91%	1
Automobiles & Components	1.59%	3
Specialty Retail	1.58%	4
Capital Markets	1.39%	2
Beverages	1.35%	2
Machinery	1.33%	2
Chemicals	1.22%	3
Metals & Mining	0.98%	3
Insurance	0.75%	1
Aerospace & Defense	0.71%	1
Health Care Equipment & Supplies	0.58%	1
Utilities	0.45%	1
Diversified Telecommunication Services	0.43%	1
Life Sciences Tools & Services	0.43%	1
Textiles, Apparel & Luxury Goods	0.25%	1
Food & Staples Retailing	0.21%	1
Entertainment	0.18%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	GOOG	Alphabet Inc.	Communication Services	9.62%
2	UNP	UNION PACIFIC CORP	Industrials	5.81%
3	BKNG	Booking Holdings Inc.	Industrials	5.33%
4	NFLX	NETFLIX INC	Communication Services	4.84%
5	MSFT	MICROSOFT CORP	Information Technology	3.93%
6	MO	ALTRIA GROUP, INC.	Consumer Staples	2.24%
7	GILD	GILEAD SCIENCES, INC.	Health Care	1.93%
8	MA	Mastercard Inc	Financials	1.92%
9	GE	GENERAL ELECTRIC CO	Information Technology	1.91%
10	WDC	WESTERN DIGITAL CORP	Information Technology	1.48%

92/142 names classified · sector 80.2% of weight · industry 80.2% · mkt cap 76.9%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 18 quarters

Information TechnologyAAPL, MSFT, NVDA, IBM, BIDU · other

Communication ServicesMETA, GOOGL, GOOG, NFLX, VZ · other

EnergyBP, XOM, CVX, HAL, VLO · other

IndustrialsUNP, BABA, EBAY, LMT, BKNG · other

FinancialsBRK.B, BAC, AIG, MA, PYPL · other

Consumer DiscretionaryAMZN, JD, CMG, GM, MCD · other

MaterialsPG, AA, NKE, FCX, COTY · other

Health CareGILD, BIIB, JNJ, AMGN, OPK · other

Consumer StaplesMDLZ, MO, KO, CVS, KHC · other

UtilitiesWMB, LNG, KMI, DUK, NFG · other

Real EstateEQIX, AMT, AVB, SPG, WY · other

UnclassifiedYAHOO INC, SPY, PRICELINE COM INC, GOOGLE INC, GUNR · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 80.2% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2018-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (81 classified)INTEGRAL DERIVATIVES, LLC centroid (Large Core)

IndustrialsCommunication ServicesInformation TechnologyFinancialsHealth CareConsumer DiscretionaryConsumer StaplesEnergyMaterialsUtilities

Style box summary for INTEGRAL DERIVATIVES, LLC: centroid Large Core. Heaviest cells: Large Growth 27.7%, Large Core 22.0%, Large Value 15.0%.

Classified: 76.3% of book weight (81/107 names) · unclassified 23.7%: , NTES, PBR, XLK, SPY, GDXJ, GLD, GDX, DXJ, BP +16 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 142 positions (2018-Q1) · largest first · Δ vs 2017-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	GOOGALPHABET INC	11,361	$12M	9.6%	NEW
2	UNPUNION PAC CORP	52,678	$7M	5.8%	TRIM −40%
3	BKNGBOOKING HOLDINGS INC	3,125	$7M	5.3%	NEW
4	NFLXNETFLIX INC	19,981	$6M	4.8%	NEW
5	MSFTMICROSOFT CORP	52,477	$5M	3.9%	NEW
6	MOALTRIA GROUP INC	43,760	$3M	2.2%	ADD 595%
7	GILDGILEAD SCIENCES INC	31,187	$2M	1.9%	ADD 257%
8	MAMASTERCARD INCORPORATED	13,354	$2M	1.9%	TRIM −14%
9	GEGENERAL ELECTRIC CO	172,582	$2M	1.9%	ADD 17%
10	WDCWESTERN DIGITAL CORP	19,588	$2M	1.5%	TRIM −57%
11	JNJJOHNSON & JOHNSON	13,981	$2M	1.5%	ADD 32%
12	NTESNETEASE COM INC	5,962	$2M	1.4%	NEW
13	WYNDHAM WORLDWIDE CORP	14,371	$2M	1.3%	NEW
14	CVXCHEVRON CORP NEW	14,278	$2M	1.3%	TRIM −41%
15	CCITIGROUP INC	19,446	$1M	1.1%	ADD 48%
16	CELGENE CORP	14,233	$1M	1.0%	NEW
17	WFCWELLS FARGO CO NEW	24,004	$1M	1.0%	ADD 3%
18	CMGCHIPOTLE MEXICAN GRILL INC	3,846	$1M	1.0%	TRIM −19%
19	BLACKSTONE GROUP LP	36,039	$1M	0.9%	TRIM −8%
20	KOCOCA COLA CO	26,499	$1M	0.9%	ADD 11%
21	CURRENCYSHARES EURO TRUST	9,464	$1M	0.9%	TRIM −57%
22	UNITED STATES STL CORP NEW	31,696	$1M	0.9%	NEW
23	BACBANK AMERICA CORP	35,474	$1M	0.9%	NEW
24	GSGOLDMAN SACHS GROUP INC	4,190	$1M	0.9%	ADD 424%
25	PIONEER NAT RES CO	6,073	$1M	0.9%	TRIM −80%
26	CRMSALESFORCE INC	8,736	$1M	0.8%	NEW
27	DEDEERE & CO	6,424	$998,000	0.8%	TRIM −23%
28	PMPHILIP MORRIS INTL INC	9,678	$962,000	0.8%	TRIM −10%
29	AVGOBROADCOM LTD	4,078	$961,000	0.8%	NEW
30	IBMINTERNATIONAL BUSINESS MACHS	6,144	$943,000	0.8%	NEW
31	WMTWALMART INC	10,595	$943,000	0.8%	NEW
32	AMGNAMGEN INC	5,401	$921,000	0.8%	NEW
33	UNHUNITEDHEALTH GROUP INC	4,270	$914,000	0.7%	ADD 9%
34	PBRPETROLEO BRASILEIRO S A	63,623	$900,000	0.7%	NEW
35	UALUNITED AIRLS HLDGS INC	12,665	$880,000	0.7%	TRIM −3%
36	HONHONEYWELL INTL INC	6,002	$867,000	0.7%	NEW
37	SLBSCHLUMBERGER LTD	13,356	$865,000	0.7%	NEW
38	CTRIP COM INTL LTD	18,491	$862,000	0.7%	TRIM −61%
39	GMGENERAL MTRS CO	22,763	$827,000	0.7%	ADD 174%
40	TSLATESLA INC	3,090	$822,000	0.7%	NEW
41	MRKMERCK & CO INC	15,062	$820,000	0.7%	NEW
42	XYZBLOCK INC	16,356	$805,000	0.7%	ADD 120%
43	XLKSELECT SECTOR SPDR TR	11,775	$770,000	0.6%	TRIM −7%
44	INTUINTUIT	4,407	$764,000	0.6%	NEW
45	FCXFREEPORT MCMORAN INC	40,912	$719,000	0.6%	NEW
46	SWKSSKYWORKS SOLUTIONS INC	7,154	$717,000	0.6%	TRIM −44%
47	ISRGINTUITIVE SURGICAL INC	1,718	$709,000	0.6%	ADD 143%
48	STAMPS COM INC	3,464	$696,000	0.6%	TRIM −17%
49	TABLEAU SOFTWARE INC	8,593	$694,000	0.6%	TRIM −60%
50	NKENIKE INC	10,336	$687,000	0.6%	NEW
51	ALTABA INC	9,167	$679,000	0.6%	TRIM −93%
52	XOMEXXON MOBIL CORP	9,030	$674,000	0.6%	NEW
53	AALAMERICAN AIRLS GROUP INC	12,735	$662,000	0.5%	TRIM −68%
54	HALHALLIBURTON CO	14,069	$660,000	0.5%	TRIM −89%
55	SPYSTATE STR SPDR S&P 500 ETF T	2,500	$658,000	0.5%	TRIM −95%
56	SPDR S&P 500 OIL & GAS EXP	18,197	$641,000	0.5%	ADD 6%
57	MSMORGAN STANLEY	11,816	$638,000	0.5%	TRIM −66%
58	SEAGATE TECHNOLOGY PLC	10,796	$632,000	0.5%	NEW
59	CATCATERPILLAR INC	4,198	$619,000	0.5%	NEW
60	HPQHP INC	26,818	$588,000	0.5%	ADD 44%
61	BIIBBIOGEN INC	2,095	$574,000	0.5%	NEW
62	SBUXSTARBUCKS CORP	9,517	$551,000	0.5%	TRIM −58%
63	LNGCheniere Energy, Inc	10,264	$549,000	0.5%	ADD 54%
64	ELLAUDER ESTEE COS INC	3,618	$542,000	0.4%	NEW
65	GDXJVANECK ETF TRUST	16,301	$524,000	0.4%	ADD 57%
66	VZVERIZON COMMUNICATIONS INC	10,955	$524,000	0.4%	TRIM −79%
67	ILMNILLUMINA INC	2,209	$522,000	0.4%	NEW
68	MPCMARATHON PETE CORP	7,125	$521,000	0.4%	TRIM −62%
69	GLDSPDR GOLD TR	4,106	$516,000	0.4%	NEW
70	ENERGEN CORP	8,069	$507,000	0.4%	ADD 53%
71	PEPPEPSICO INC	4,579	$500,000	0.4%	NEW
72	GDXVANECK ETF TRUST GOLD MINERS ETF	22,734	$500,000	0.4%	NEW
73	FDXFEDEX CORP	2,006	$482,000	0.4%	ADD 14%
74	BARRICK GOLD CORP	38,621	$481,000	0.4%	HOLD
75	LVSLAS VEGAS SANDS CORP	6,593	$474,000	0.4%	TRIM −50%
76	AMATAPPLIED MATLS INC	8,257	$459,000	0.4%	TRIM −73%
77	L3 TECHNOLOGIES INC	2,150	$447,000	0.4%	NEW
78	VVISA INC	3,719	$445,000	0.4%	TRIM −82%
79	XILINX INC	6,160	$445,000	0.4%	NEW
80	ADIANALOG DEVICES INC	4,829	$440,000	0.4%	TRIM −71%
81	QRVOQORVO INC	6,178	$435,000	0.4%	NEW
82	DISCOVER FINL SVCS	6,000	$432,000	0.4%	NEW
83	FFIVF5 INC	2,981	$431,000	0.4%	NEW
84	URIUNITED RENTALS INC	2,490	$430,000	0.4%	NEW
85	NXPINXP SEMICONDUCTORS N V	3,649	$427,000	0.4%	NEW
86	VANECK VECTORS ETF TRUST	17,804	$425,000	0.3%	ADD 35%
87	OXYOCCIDENTAL PETE CORP	6,451	$419,000	0.3%	NEW
88	EOGEOG RES INC	3,937	$414,000	0.3%	NEW
89	Weight Watchers Intl	6,366	$406,000	0.3%	NEW
90	SINA CORP	3,887	$405,000	0.3%	TRIM −59%
91	DXJWISDOMTREE TR	7,050	$395,000	0.3%	ADD 91%
92	WYNNWYNN RESORTS LTD	2,138	$390,000	0.3%	TRIM −43%
93	DOWDUPONT INC	6,049	$385,000	0.3%	TRIM −62%
94	HDHOME DEPOT INC	2,060	$367,000	0.3%	TRIM −65%
95	WABCO HLDGS INC	2,700	$361,000	0.3%	NEW
96	RED HAT INC	2,403	$359,000	0.3%	TRIM −43%
97	BPBP PLC	8,530	$346,000	0.3%	TRIM −77%
98	CSXCSX CORP	6,184	$345,000	0.3%	TRIM −35%
99	TGTTARGET CORP	4,972	$345,000	0.3%	NEW
100	XLESELECT SECTOR SPDR TR	4,789	$323,000	0.3%	TRIM −94%
101	NAVISTAR INTERNATIONAL	9,000	$315,000	0.3%	NEW
102	DALDELTA AIR LINES INC	5,636	$309,000	0.3%	NEW
103	UAUNDER ARMOUR INC	21,543	$309,000	0.3%	ADD 6%
104	HEDJWISDOMTREE TR	4,901	$307,000	0.3%	NEW
105	FFORD MTR CO	26,008	$288,000	0.2%	ADD 46%
106	REGNREGENERON PHARMACEUTICALS	831	$286,000	0.2%	NEW
107	BIDUBAIDU INC	1,252	$279,000	0.2%	TRIM −97%
108	KKR & CO LP	13,753	$279,000	0.2%	NEW
109	FXIISHARES TR	5,895	$278,000	0.2%	TRIM −75%
110	JDJD.COM INC	6,802	$275,000	0.2%	TRIM −95%
111	VWOVANGUARD INTL EQUITY INDEX F	5,753	$270,000	0.2%	NEW
112	LUVSOUTHWEST AIRLS CO	4,620	$265,000	0.2%	NEW
113	L BRANDS INC	6,905	$264,000	0.2%	NEW
114	AMDADVANCED MICRO DEVICES INC	25,727	$259,000	0.2%	TRIM −83%
115	CVSCVS HEALTH CORP	4,146	$258,000	0.2%	TRIM −31%
116	XBISPDR SERIES TRUST	2,917	$256,000	0.2%	TRIM −72%
117	PGPROCTER AND GAMBLE CO	3,216	$255,000	0.2%	NEW
118	EAELECTRONIC ARTS INC	2,055	$249,000	0.2%	TRIM −87%
119	CONNS INC	7,150	$243,000	0.2%	NEW
120	STERICYCLE INC	4,100	$240,000	0.2%	NEW
121	AEMAGNICO EAGLE MINES LTD	5,683	$239,000	0.2%	NEW
122	AUANGLOGOLD ASHANTI LIMITED	24,556	$233,000	0.2%	TRIM −66%
123	VLOVALERO ENERGY CORP	2,499	$232,000	0.2%	NEW
124	RIGTRANSOCEAN LTD	23,100	$229,000	0.2%	NEW
125	ANETArista Networks Inc	877	$224,000	0.2%	NEW
126	MPLXMPLX LP	6,726	$222,000	0.2%	NEW
127	U S G CORP	5,500	$222,000	0.2%	NEW
128	KBESPDR SERIES TRUST	4,600	$220,000	0.2%	TRIM −47%
129	DISDISNEY WALT CO	2,164	$217,000	0.2%	TRIM −52%
130	TIME WARNER INC	2,244	$212,000	0.2%	TRIM −86%
131	ENERGY TRANSFER PARTNERS LP	13,001	$211,000	0.2%	TRIM −68%
132	FEZSPDR INDEX SHS FDS	5,188	$209,000	0.2%	TRIM −68%
133	SLVISHARES SILVER TR	13,348	$206,000	0.2%	TRIM −76%
134	CIGNA CORPORATION	1,224	$205,000	0.2%	TRIM −30%
135	VEEVVEEVA SYS INC	2,747	$201,000	0.2%	NEW
136	NTAPNetApp Inc.	3,248	$200,000	0.2%	NEW
137	ENCANA CORP	13,000	$143,000	0.1%	TRIM −30%
138	NBRNABORS INDUSTRIES LTD	15,014	$105,000	0.1%	TRIM −70%
139	NEW GOLD INC CDA	38,850	$100,000	0.1%	TRIM −10%
140	ELDORADO GOLD CORP	84,948	$71,000	0.1%	TRIM −29%
141	MCEWEN MNG INC COM	21,825	$45,000	0.0%	TRIM −34%
142	SDRLSEADRILL LIMITED	200,697	$39,000	0.0%	ADD 120%

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