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33 Stocks For February 2017 (Abbreviated Report)

|Includes: A, ABT, AKS, AMAT, AMTD, APO, BAC, BIDU, BURL, BX, CATY, CFR, CIT, CMPR, CPRT, CRUS, CS, DFS, DHI, EME, ENDP, ESNT, ETFC, EVR, EWBC, FB, FITB, FRC, GLW, HA, HMC, HOMB, HPQ, IDCC, JBLU, KMX, LCII, LM, MAN, MKTX, MPW, MXIM, NAV, NOC, P, PVTB, RARE, SAN, SPN, STLD, TC PipeLines, LP (TCP), TER, TRCO, UA, ULTA, UNM, UTHR, WAFD, WAL

This is an update to last month's model portfolio report, The Best 29 Stocks for 2017.

For the model portfolios that rebalance every month, we are providing below the latest portfolio actions. A full report will follow shortly.

Our favorite long idea for February 2017 is Maxim Integrated Products, Inc. (NASDAQ:MXIM).

Long Rebalancing Actions
As of the January 31, 2017 close 12 stocks have left the long-only model, 16 have been added, and 17 have been rebalanced. This 33-stock theoretical long model portfolio assumes a 3.03% weight for each stock. The long model portfolios are composed of high-quality stocks.

Close Long Positions:
TC PipeLines, LP (NYSE:TCP)
Evercore Partners Inc. (NYSE:EVR)
Fifth Third Bancorp (NASDAQ:FITB)
Western Alliance Bancorporation (NYSE:WAL)
PrivateBancorp, Inc. (NASDAQ:PVTB)
JetBlue Airways Corporation (NASDAQ:JBLU)
ManpowerGroup Inc. (NYSE:MAN)
Northrop Grumman Corporation (NYSE:NOC)
EMCOR Group, Inc. (NYSE:EME)
Cirrus Logic, Inc. (NASDAQ:CRUS)
AK Steel Holding Corporation (NYSE:AKS)
Medical Properties Trust, Inc. (NYSE:MPW)

Hold/Rebalance Long Positions:
LCI Industries (NYSE:LCII)*
Ulta Beauty, Inc. (NASDAQ:ULTA)
Burlington Stores, Inc. (NYSE:BURL)
Apollo Global Management, LLC (NYSE:APO)
Essent Group Ltd. (NYSE:ESNT)
MarketAxess Holdings Inc. (NASDAQ:MKTX)
Home Bancshares, Inc. (Conway, AR) (NASDAQ:HOMB)
Cathay General Bancorp (NASDAQ:CATY)
TD Ameritrade Holding Corporation (NASDAQ:AMTD)
United Therapeutics Corporation (NASDAQ:UTHR)
Hawaiian Holdings, Inc. (NASDAQ:HA)
Copart, Inc. (NASDAQ:CPRT)
HP Inc. (NYSE:HPQ)
InterDigital, Inc. (NASDAQ:IDCC)
Applied Materials, Inc. (NASDAQ:AMAT)
Teradyne, Inc. (NYSE:TER)
Facebook, Inc. (NASDAQ:FB)

Open New Long Positions:
D.R. Horton, Inc. (NYSE:DHI)
Unum Group (NYSE:UNM)
The Blackstone Group L.P. (NYSE:BX)
Discover Financial Services (NYSE:DFS)
Bank of America Corporation (NYSE:BAC)
E*TRADE Financial Corporation (NASDAQ:ETFC)
Banco Santander, S.A. (NYSE:SAN)
East West Bancorp, Inc. (NASDAQ:EWBC)
Raymond James Financial, Inc. (RJD)
Washington Federal, Inc. (NASDAQ:WAFD)
Cullen/Frost Bankers, Inc. (NYSE:CFR)
First Republic Bank (NYSE:FRC)
Abbott Laboratories (NYSE:ABT)
Maxim Integrated Products, Inc.
Corning Incorporated (NYSE:GLW)
Steel Dynamics, Inc. (NASDAQ:STLD)

*Drew Industries (DW) has changed its name and ticker to LCI Industries .

Short Sale Rebalancing Actions
As of the January 31, 2017 close, 7 stocks have left the short sale model portfolios, 6 have been added, and 17 have been rebalanced. This 22-stock theoretical model portfolio assumes an equal 4.35% weight for each stock.

This short sale model is composed of low-quality stocks, and only tends to work well during periods of high uncertainty or volatility in the market. Low-quality stocks do tend to outperform high-quality stocks during market rallies as the market prices in expectations for a sharp recovery in fundamentals.

Close Short Sale Positions:
Tribune Media Company (NYSE:TRCO)
Credit Suisse Group AG (NYSE:CS)
Endo International plc (NASDAQ:ENDP)
Navistar International Corporation (NYSE:NAV)
Cimpress N.V. (NASDAQ:CMPR)
Baidu, Inc. (NASDAQ:BIDU)
Pandora Media, Inc. (NYSE:P)

Hold/Rebalance Short Sale Positions:
CarMax Inc. (NYSE:KMX)
Honda Motor Co., Ltd. (NYSE:HMC)
Under Armour, Inc. (NYSE:UA)
Superior Energy Services, Inc. (NYSE:SPN)
CIT Group Inc. (NYSE:CIT)
Legg Mason, Inc. (NYSE:LM)
Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)
Jacobs Engineering Group Inc. (NYSE:JEC)
Terex Corporation (NYSE:TEX)
IAC/InterActiveCorp (NASDAQ:IAC)
Qorvo, Inc. (NASDAQ:QRVO)
Workday, Inc. (NYSE:WDAY)
Autodesk, Inc. (NASDAQ:ADSK)
Tableau Software, Inc. (NYSE:DATA)
CF Industries Holdings, Inc. (NYSE:CF)
United States Steel Corporation (NYSE:X)

Open New Short Sale Positions:
Hess Corporation (NYSE:HES)
Golar LNG Limited (NASDAQ:GLNG)
Tesaro, Inc. (NASDAQ:TSRO)
Stericycle, Inc. (NASDAQ:SRCL)
Joy Global Inc. (NYSE:JOY)
Potash Corporation of Saskatchewan Inc. (POT)

January 2017 returns

Disclosure: I/we have no positions in any stocks mentioned, but may initiate a long position in OR SHORT POSITION IN ANY STOCK MENTIONED over the next 72 hours.

Additional disclosure: There are limitations inherent in our theoretical model results, particularly with the fact that such results do not represent actual trading and they may not reflect the impact material economic and market factors might have had on our decision making if we were actually managing client money.