The 591 Non-Oil&Gas California Companies With Market Caps Above $100 Mil Generated Total Audited US GAAP Earnings in 2015 of $206.585 Bil, Nearly TEN TIMES Their Total Earnings of $20.851 Bil in 2008, the Year Before President Obama Took Office

Since President Obama is traveling to Southern California on October 24, 2016 and October 25, 2016, I think it might be helpful to research how California Headquartered Companies have performed on the earnings front during the Obama Administration.


From a review of the very fine Google Finance Website and of company financial statements in the US SEC website, I found the 599 Companies headquartered in California, all with Stock Market Capitalizations now of more than $100 Mil and which also have filed their fiscal year 2015 annual financial statements with the SEC.  Traditional Regulated Utilities were excluded.


Of these 599 California Companies, 591 of them are not Oil & Gas Companies and 8 of them are.


First, let me get the bad news out of the way.


Just like what has been going on all over the country with much lower oil and gas market prices, California Oil and Gas Companies have been going down the tubes in the past several years and especially so in 2015.


The story not told here is that the severely-flawed Full Costing accounting method for oil and gas properties has substantially overstated the true earnings of these oil and gas companies for many years and also substantially overstated the US SEC required impairment earnings charges related to oil and gas properties, especially so in 2015 and 2016.


Under the Full Costing method of accounting, oil and gas companies capitalize as an asset the costs incurred when they drill for oil even though they are unsuccessful in drilling for oil.  Assets are economic benefits and when you unsuccessfully drill for oil you have no asset even though the US SEC says you do.


And to compound the accounting problem, the US SEC also requires a ceiling test on the oil and gas properties asset accumulation.  This computation is highly subjective since you don't know what oil and gas prices will be in the future.  You also don't know what future costs will be.  Just look at how much more cheaply it has been to drill for oil in the past few years because of the substantial technological much more efficient advances made in the past several years.


And amazingly, the US SEC also requires the oil and gas companies to use an incredibly high discount rate to make this asset impairment earnings charge computation which results in a substantially inflated recorded loss amount which has very little to do with economic reality.  Just sayin!


So, it is very easy to solve this oil and gas accounting problem which has wreaked so much havoc and caused so much uncertainty on the US economy.  The irrational Full Cost method of accounting should be banned and companies should all use the Successful Efforts method of accounting and thus these companies would only have assets with future economic benefits on their books and these companies should also be permitted to restate their prior year financial statements to make them meaningful. 


Further, the ceiling test should be eliminated.  Instead, the oil and gas properties impairment test should be applied in a way at least somewhat similar to how other long-term assets like Goodwill and Other Intangible Assets, Property, Plant & Equipment, Long-term Investments and Deferred Income Tax Assets and even both Long-term and Short-term Notes Receivable and Accounts Receivables and even Inventory are tested for impairment.  Just take the best aspects of each of these and derive the best, most relevant  measure of Oil and Gas Property Asset Impairment.


If this happened, the stock market prices of oil and gas companies as well as of the overall stock market would move up sharply due to the elimination of both an irrational full-cost accounting method and also a highly irrational reporting of impairment losses.


And even more importantly, US long-term real GDP growth would move up markedly and there would also be more higher paying US jobs.  US Businesses are not apt to make investments when there is a lot of uncertainty.  Eliminate the uncertainty and a pick up in business investments will result.   


US GAAP accounting should just reflect economic reality, it should not be causing the US economy so much uncertainty.



Anyway, below here are the earnings and losses for the most recent five years of the 8 California oil and gas companies with stock market capitalizations above $100 mil:

				2015	2014	2013	2012	2011
			Most	Audited	Audited	Audited	Audited	Audited
			Recent	Net	Net	Net	Net	Net
	City	ST	2015	Income	Income	Income	Income	Income
California Company	HQs	HQs	FYE	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)
				$ mils	$ mils	$ mils	$ mils	$ mils
Oil&Gas Companies
Chevron	San Ramon	CA	Dec15	4,710	19,310	21,597	26,336	27,008
US 12 Month Oil Fund LP	Oakland	CA	Dec 15	(28)	(19)	6	(10)	3
US Brent Oil Fund LP	Oakland	CA	Dec15	(44)	(26)	2	4	6
Steel Excel Inc	San Ramon	CA	Dec15	(98)	(24)	13	22	0
Clean Energy Fuels Corp	Newport Beach	CA	Dec15	(135)	(91)	(67)	(101)	(47)
United States Oil Fund LP	Oakland	CA	Dec15	(1,288)	(489)	74	(132)	142
Breitburn Energy Partners LP	Los Angeles	CA	Dec15	(2,583)	421	(44)	(41)	111
California Resources Corp	Los Angeles	CA	Dec15	(3,554)	(1,434)	869	699	971
Total all 8 Oil & Gas				(3,020)	17,648	22,450	26,777	28,194

So far I've shown the horrible 2015 earnings related to Companies in the US States of Colorado and California.  But these disastrous losses are just a drop in the bucket as compared to those of Texas and Oklahoma Oil and Gas Companies.


Now, let me get to the great news.


The Total Audited US GAAP Earnings From Continuing Operations of the 591 Non-Oil&Gas California Companies were $206.585 Bil in 2015, nearly TEN TIMES Their Total Earnings of $20.851 Bil in 2008, the year before President Obama took office.


Further, these 2015 Total Earnings of $206.585 Bil were 3.4 TIMES Their Total Earnings of $60.613 in 2007 before the financial meltdown hit.


What happened to California Companies during the Obama Administration is an economic miracle.


Pundits who say the US economy has gotten substantially worse during the Obama Administration have no idea what they are talking about.


So if the next two terms of US Presidents do as well as the Obama Administration has done where California Companies Total Earnings have advanced by nearly 10 times from the $20.6 Bil in 2008 to the $206.6 Bil in 2015, then in 2022, the Total Earnings of the California Companies would exceed $2 Trillion!


This is the crazy outlandish claim being made in the current highly-charged US Presidential campaign.


Suffice it to say that California citizens have to be very pleased with what has been going on with their California Companies on the earnings front during the Obama Administration. 


And consider this point.  Presently the Top 5 Companies in the world in stock market capitalization are all US Technology Companies, with #1 Apple, #2 Alphabet and #5 Facebook all having their headquarters in California's Silicon Valley.  And #3 Microsoft and #4 Amazon both have substantial operations in California.


But it's not just Technology driving the economic success of California Companies.  It's also Biotechnology.  The number of California Company IPOs during the Obama Administration has been truly earth shattering.


Company Earnings drive Company stock market capitalizations.  I can hear it now ..... Thank you President Obama!



Below here are the reported Audited US GAAP Earnings (Losses) From Continuing Operations of each of the 591 California Non-Oil&Gas Related Companies with Stock Market Capitalizations above $100 Mil for all years reported from 2007 through 2015 where the amounts were presented and in a consistent manner, with the Companies presented in order of 2015 Earnings:

				2015	2014	2013	2012	2011	2010	2009	2008	2007
			Most	Audited	Audited	Audited	Audited	Audited	Audited	Audited	Audited	Audited
			Recent	Net	Net	Net	Net	Net	Net	Net	Net	Net
	City	ST	2015	Income	Income	Income	Income	Income	Income	Income	Income	Income
California Company	HQs	HQs	FYE	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)	(Loss)
				$ mils	$ mils	$ mils	$ mils	$ mils	$ mils	$ mils	$ mils	$ mils
Non-Oil&Gas Companies
Apple	Cupertino	CA	Sep15	53,394	39,510	37,037	41,733	25,922	14,013	8,235	4,834	3,496
Wells Fargo	San Fran	CA	Dec15	23,276	23,608	22,224	19,368	16,211	12,663	12,667	2,698	8,265
Gilead Sciences	Foster City	CA	Dec15	18,108	12,059	3,057	2,574	2,789	2,890	2,626	1,970	1,576
Alphabet (Google)	Mountain View	CA	Dec15	16,348	13,620	13,160	11,435	9,706	8,505	6,520	4,227	4,204
Intel	Santa Clara	CA	Dec15	11,420	11,704	9,620	11,005	12,942	11,464	4,369	5,292	6,976
Cisco Systems	San Jose	CA	Jul16	10,739	8,981	7,853	9,983	8,041	6,490	7,767	6,134	8,052
Oracle	Redwood City	CA	May16	8,901	9,938	10,955	10,925	9,981	8,547	6,135	5,593	5,521
Walt Disney Co	Burbank	CA	Sep15	8,852	8,004	6,636	6,173	5,258	4,313	3,609	4,729	4,851
Amgen	Thousand Oaks	CA	Dec15	6,939	5,158	5,081	4,345	3,683	4,627	4,605	4,052	3,078
Visa	San Francisco	CA	Sep15	6,328	5,438	4,980	2,142	3,646	2,964	2,352	804	(1,071)
Qualcomm	San Diego	CA	Sep15	5,268	7,534	6,845	5,283	4,555	3,520	1,792	3,160	3,303
HP Inc	Palo Alto	CA	Oct15	3,718	2,924	2,460	1,770	2,650
Facebook	Menlo Park	CA	Dec15	3,688	2,940	1,500	53	1,000	606	229	(56)	(138)
Hewlett Packard Enterprise	Palo Alto	CA	Oct15	2,461	1,648	2,051	(14,761)	4,119
McKesson	San Francisco	CA	Mar16	2,342	1,842	1,414	1,363	1,394	1,097	1,205	823	989
Franklin Resources	San Mateo	CA	Sep15	2,105	2,412	2,171	1,916	1,821	1,451	904	1,588	1,773
eBay Inc	San Jose	CA	Dec15	1,947	(865)	2,067	1,931	2,776	1,801	2,389	1,779	348
Charles Schwab	San Francisco	CA	Dec15	1,447	1,321	1,071	928	864	454	787	1,230	1,120
Broadcom Ltd	San Jose	CA	Oct 15	1,391	309	552	563	552	415	(44)	57	(220)
Applied Materials	Santa Clara	CA	Oct15	1,377	1,072	256	109	1,926	938	(305)	961	1,710
Public Storage	Glendale	CA	Dec15	1,318	1,150	1,058	930	833	688	798	982	489
PayPal Holdings	San Jose	CA	Dec15	1,228	419	955	778	460	350
AerCap Holdings NV	Los Angeles	CA	Dec15	1,177	808	295	158	225	240	206	141	174
Electronic Arts	Redwood City	CA	Mar16	1,156	875	8	98	76	(276)	(677)	(1,088)	(454)
Ross Stores	Dublin	CA	Jan16	1,021	925	837	787	657	555	443	305	261
VMware	Palo Alto	CA	Dec15	997	886	1,014	746	724	357	197	290	218
Prologis	San Francisco	CA	Dec15	926	739	230	(106)	(275)	(1,605)	(372)	(379)	841
The Gap	San Francisco	CA	Jan16	920	1,262	1,280	1,135	833	1,204	1,102	967	867
Lam Research	Fremont	CA	Jun16	914	656	632	114	169	724	347	(302)	439
Activision Blizzard	Santa Monica	CA	Dec15	892	835	1,010	1,149	1,085	418	113	(107)	227
Intuit	Mountain View	CA	Jul16	806	413	853	807	730	639	539	447	447
KLA-Tencor	Milpitas	CA	Jun16	704	366	583	543	756	794	212	(523)	359
Check Point Software	San Carlos	CA	Dec15	686	660	653	620	544	453	358	324	281
Clorox	Oakland	CA	Jun16	648	606	579	573	543	287	526	472	382
Juniper Networks	Sunnyvale	CA	Dec15	634	(334)	440	187	425	619	115	512	361
Adobe Systems	San Jose	CA	Nov15	630	268	290	833	833	775	387	872	724
NVIDIA Corp	Santa Clara	CA	Jan16	614	631	440	563	581	253	(68)	(30)	798
Intuitive Surgical	Sunnyvale	CA	Dec15	589	419	671	657	495	382	233	204	145
CBRE Group	Los Angeles	CA	Dec15	559	514	322	304	240	142	(28)	(1,076)	400
Xilinx	San Jose	CA	Mar16	551	648	630	488	530	642	357	362	369
Monster Beverage	Corona	CA	Dec15	547	483	339	340	286	212	209	108	149
Macerich	Santa Monica	CA	Dec15	523	1,607	159	303	244	39	175	87	80
First Republic Bank	San Francisco	CA	Dec15	522	487	462	401	354	271	347	10	14
Keysight Technologies Inc	Santa Rosa	CA	Oct15	513	392	457	841	787	355	(203)
Edwards Lifesciences	Irvine	CA	Dec15	495	811	389	292	237	218	229	129	113
Linear Technology	Milpitas	CA	Jun16	494	521	460	407	398	581	361	289	367
Illumina	San Diego	CA	Dec15	457	353	125	151	87	125	72	39	(287)
Flextronics Intl Ltd	San Jose	CA	Mar16	444	601	366	303	521	612	25	(6,123)	(664)
Agilent Technologies	Santa Clara	CA	Oct15	438	232	225	353	252
Varian Medical Systems	Palo Alto	CA	Sep15	412	404	438	427	409	367	332	295	243
SanDisk	Milpitas	CA	Dec15	388	1,007	1,043	417	987	1,300	415	(1,987)	196
East West Bancorp	Pasadena	CA	Dec15	385	346	293	278	243	165	77	(50)	161
Sanmina Corp	San Jose	CA	Sep15	377	197	79	180	69	122	(138)	(513)	(1,143)
SVB Financial Group	Santa Clara	CA	Dec15	375	479	546	250	283	137	11	55	149
Mattel	El Segundo	CA	Dec15	369	499	904	776	769	685	529	380	600
Robert Half Intl	Menlo Park	CA	Dec15	358	306	252	210	150	66	37	250	296
ResMed	San Diego	CA	Jun16	352	353	345	307	255	227	190	146	110
Virgin America	Burlingame	CA	Dec15	341	60	10	(145)	(100)	(69)	(81)
Brocade Communications Systems	San Jose	CA	Oct15	340	238	209	195	51	117	(83)	166	66
Sunstone Hotel Investors	Aliso Viejo	CA	Dec15	340	83	22	1	41	(31)	(44)	28	29
Herbalife Ltd	Los Angeles	CA	Dec15	339	309	528	464	415	293	203	221	191
Jazz Pharmaceuticals	Palo Alto	CA	Dec15	330	57	216	261	125	33	(7)	(184)	(139)
Jacob's Engineering Group	Pasadena	CA	Sep15	329	352	440	391	335	246	399	421	287
Reliance Steel & Aluminum	Los Angeles	CA	Dec15	316	376	325	408	349	198	149	484	408
Williams-Sonoma	San Francisco	CA	Jan16	310	309	279	257	237	200	77	30	196
Digital Realty Trust	San Francisco	CA	Dec15	302	203	320	216	162	105	91	68	23
PacWest Bancorp	Brea	CA	Dec15	300	170	45	57	51	(62)	(9)	(728)	90
First American Financial	Santa Ana	CA	Dec15	289	234	187	302	79	129	134	(72)	(122)
Realty Income	San Diego	CA	Dec15	285	269	181	142	141	112	119	108	120
Avery Denison	Glendale	CA	Dec15	274	247	242	158	142	234	(835)	153	172
Skechers USA Inc	Manhattan Beach	CA	Dec15	261	152	61	11	(68)	136	51	53	76
Colony Capital Inc	Los Angeles	CA	Dec15	256	160	126	68	43	18	(0)
Ligand Pharmaceuticals	San Diego	CA	Dec15	255	11	9	(3)	10	(13)	(8)	(97)	(35)
Air Lease Corp	Los Angeles	CA	Dec15	253	256	190	132	53	(52)
Cadence Design Systems	San Jose	CA	Dec15	252	159	164	440	72	127	(150)	(1,857)	287
Five Prime Therapeutics	South San Fran	CA	Dec15	250	(37)	(29)	(28)	20	(13)	(10)	(11)
Essex Property Trust	San Mateo	CA	Dec15	248	134	141	128	50	50	44	81	57
PennyMac Financial Services	Moorpark	CA	Dec15	248	196	172	118	15	33	21
Seagate Technology	Cupertino	CA	Jun16	248	1,742	1,570	1,838	2,862	511	1,609	(3,125)	1,251
Medivation	San Francisco	CA	Dec15	245	276	(43)	(41)	(39)	(34)	(55)	(62)	(32)
Western Digital	Irvine	CA	Jun16	242	1,465	1,617	980	1,612	726	1,382	470	867
Kilroy Realty Corp	Los Angeles	CA	Dec15	239	59	15	(5)	(17)	(7)	28	41	39
NetApp	Sunnyvale	CA	Apr16	229	560	638	505	605	673	400	65	310
Maxim Integrated Products	San Jose	CA	Jun16	227	206	355	452	355	489	125	10	318
Synopsys	Mountain View	CA	Oct15	226	259	248	182	221	237	168	190	130
VCA Inc	Los Angeles	CA	Dec15	216	141	143	51	100	114	136	137	125
Ingram Micro	Irvine	CA	Dec15	215	267	311	306	244	318	202	(395)	276
CalAtlantic Group	Irvine	CA	Dec15	214	216	189	531	(16)	(12)	(13)	(1,231)	(695)
Ubiquiti Networks Inc	San Jose	CA	Jun16	214	130	177	80	103	50	(5)	10	5
Rambus Inc	Sunnyvale	CA	Dec15	211	26	(34)	(134)	(43)	151	(92)	(199)	(34)
SYNNEX Corp	Fremont	CA	Nov15	209	180	152	153	151	117	86	77	61
TRI Pointe Group	Irvine	CA	Dec15	207	84	(151)	61	35	52
Cooper Companies	Pleasanton	CA	Oct15	205	272	297	249	175	113	101	64	(13)
Teledyne Technologies	Thousand Oaks	CA	Dec15	196	218	185	162	142	120	116	117	86
Integrated Device Technology	San Jose	CA	Mar16	195	115	111	3	38	94	65	(1,027)	45
Equinix	Redwood City	CA	Dec15	188	(261)	96	130	92	36	69	108	(10)
Health Net	Woodland Hills	CA	Dec15	186	146	170	26	61	172	(49)	95	194
Dolby Laboratories	San Fran	CA	Sep15	183	209	190	265	311	283	244	201	143
Fitbit	San Fran	CA	Dec15	176	132	(52)	(4)	(4)	(1)
Cathay General Bancorp	Los Angeles	CA	Dec15	161	138	124	118	101	12	(67)	51	126
PS Business Parks	Glendale	CA	Dec15	149	205	116	94	100	96	91	84	81
Alexandria Real Estate Equities	Pasadena	CA	Dec15	146	99	135	95	117	63	135	100	76
Align Technology	San Jose	CA	Dec15	144	146	64	59	67	74	(31)	80	36
Molina Healthcare	Long Beach	CA	Dec15	143	63	45	13	77	51	31	60	58
J2 Global Inc	Los Angeles	CA	Dec15	134	125	108	122	115	83	67	73	68
Corelogic	Irvine	CA	Dec15	128	90	100	96	27	19	4	(10)	47
Logitech Intl SA	Newark	CA	Mar16	128	148	106	22	127
Netflix	Los Gatos	CA	Dec15	123	267	112	17	226	161	116	83	67
Deckers Outdoor	Goleta	CA	Mar16	122	162	146	129	202	160	117	74	66
Arista Networks	Santa Clara	CA	Dec15	121	87	42	21	34	2
Trimble Navigation	Sunnyvale	CA	Dec15	121	214	218	190	149	104	64	141	117
BofI Holding	San Diego	CA	Jun16	119	83	56	40	29	21	21	7	4
Cheesecake Factory	Calabasas Hills	CA	Dec15	117	101	114	98	96	82	43	52	74
Retrophin	San Diego	CA	Dec15	117	(111)	(35)	(30)
Tessera Technologies	San Jose	CA	Dec15	117	174	(41)	35	36	92	70	5	45
Bio-Rad Laboratories	Hercules	CA	Dec15	113	89	78	166	178	187	149	98	94
Jack in the Box	San Diego	CA	Sep15	113	95	83	68	86	74	131	118	125
Textainer Group Holdings Ltd	San Francisco	CA	Dec15	112	195	189	205	204	134	105	94	85
DineEquity Inc	Glendale	CA	Dec15	105	36	72	128	75	(3)	31	(155)	(1)
Redwood Trust Inc	Mill Valley	CA	Dec15	102	101	173	132	25	111	39	(446)	(1,109)
CVB Financial	Ontario	CA	Dec15	99	104	96	77	82	63	65	63	61
ARC Document Solutions	Walnut Creek	CA	Dec15	97	7	(15)	(31)	(133)	(28)	(15)	37	69
Mellanox Technologies Ltd	Sunnyvale	CA	Dec15	93	(24)	(23)	112	10	14	13	22	36
Hope Bancorp	Los Angeles	CA	Dec15	92	89	82	83	27	(7)	(6)	3	33
Restoration Hardware Holdings	Corte Madera	CA	Jan16	91	91	18	(13)	21	(7)	(29)	(51)	(52)
PennyMac Mortgage Investment Trust	Moorpark	CA	Dec15	90	195	200	138	64	24	(2)
PriceSmart	San Diego	CA	Aug15	89	93	84	68	62	49	42	38	13
Fair Isaac Corp	San Jose	CA	Sep15	87	95	90	92	72	64	65	81	112
Crown Media Holdings	Studio City	CA	Dec15	86	95	68	107	319	24	(23)	(40)	(159)
Guess? Inc	Los Angeles	CA	Jan16	85	97	158	181	271	295	246	215	187
KB Home	Los Angeles	CA	Nov15	85	918	40	(59)	(179)	(69)	(102)	(976)	(1,415)
Microsemi Corp	Aliso Viejo	CA	Sep15	85	23	44	(30)	56	59	(27)	50	10
AMN Healthcare Services	San Diego	CA	Dec15	82	33	33	16	5	(53)	(122)	34	36
Masimo Corp	Irvine	CA	Dec15	82	74	56	62	64	73	54	32	42
IMPAC Mortgage Holdings Inc	Irvine	CA	Dec15	81	(6)	(5)	13	6	8	8	5	(1,654)
Silver Springs Networks	Redwood City	CA	Dec15	80	(89)	(67)	(90)	(92)	(148)	(113)	(40)	(27)
VeriFone Systems	San Jose	CA	Oct15	80	(36)	(295)	66	282	99	(138)	(425)	(34)
Sabra Health Care REIT	Irvine	CA	Dec15	79	47	34	20	13	0
Ambarella	Santa Clara	CA	Jan16	77	51	26	18	10	14	13	(3)	(6)
Solaredge Technologies	Fremont	CA	Jun16	77	21	(21)	(28)	(28)	(28)	(18)
Coherent inc	Santa Clara	CA	Sep15	76	59	66	63	93	37	(35)	23	16
Mercury General	Los Angeles	CA	Dec15	74	178	112	117	191	152	403	(242)	238
LTC Properties	Westlake Village	CA	Dec15	73	73	55	50	49	45	44	43	48
Super Micro Computer	San Jose	CA	Jun16	72	102	54	21	30	40	27	16	25
Synaptics Inc	San Jose	CA	Jun16	72	110	47	99	54	64	53	48	26
On Assignment	Calabasas	CA	Dec15	71	73	51	33	16	3	5	19	9
Houlihan Lokey	Los Angeles	CA	Mar16	70	80	61	59
Polycom	San Jose	CA	Dec15	70	42	(19)	(37)	125	66	50	76	63
Douglas Emmett	Santa Monica	CA	Dec15	69	53	53	28	2	(33)	(34)	(36)	(19)
Granite Construction	Watsonville	CA	Dec15	68	36	(45)	60	66	(62)	100	166	133
Plantronics Inc	Santa Cruz	CA	Mar16	68	112	112	106	109	109	76	45	92
Simpson Manufacturing Co	Pleasanton	CA	Dec15	68	64	51	42	51	45	14	55	70
Marcus & Milichap	Calabasas	CA	Dec15	66	50	8	28	13	8
NuVasive Inc	San Diego	CA	Dec15	65	(17)	7	2	(71)	77	4	(28)	(11)
Ares Management LP	Los Angeles	CA	Dec15	62	546	813	1,236	923	2,081
Banc of California	Irvine	CA	Dec15	62	30	(0)	6	(3)	3	(1)	(1)	3
Wilshire Bancorp	Los Angeles	CA	Dec15	61	59	45	92	(30)	(35)	20	26	27
Opus Bank	Irvine	CA	Dec15	60	44	143	23	(22)
William Lyon Homes	Newport Beach	CA	Dec15	60	55	136	(9)	(193)	(135)	(21)	(122)	(338)
Kennedy-Wilson Holdings	Beverly Hills	CA	Dec15	59	90	14	7	7	7	(10)	1	9
TCP Capital Corp	Santa Monica	CA	Dec15	59	35	50	26	5	69	52	(189)
Westamerica Bancorporation	San Rafael	CA	Dec15	59	61	67	81	88	95	125	60	90
The Ensign Group	Mission Viejo	CA	Dec15	56	34	26	41	48	41	32	28	21
American Assets Trust	San Diego	CA	Dec15	54	31	23	14	14	2	5	(12)	(2)
Hanmi Financial	Los Angeles	CA	Dec15	54	50	40	90	28	(88)	(122)	(102)	(61)
Veeva Systems	Pleasanton	CA	Jan16	54	40	24	19	4	4	1
Core-Mark Holding Co	South San Francisco	CA	Dec15	52	43	42	34	26	18	47	18	24
Infinera Corp	Sunnyvale	CA	Dec15	51	14	(32)	(85)	(82)	(28)	(87)	79	(55)
NetGear	San Jose	CA	Dec15	49	9	55	87	91	51	9	18	46
Encore Capital Group Inc	San Diego	CA	Dec15	47	100	75	79	61	47	33	14	12
Natural Health Trends Corp	Rolling Hills Estates	CA	Dec15	47	20	4	3	2	(2)	(6)	(4)	(25)
Blackhawk Network Holdings	Pleasanton	CA	Dec15	46	45	54	48	36	19	27	16
Qlogic	Aliso Viejo	CA	Mar16	46	51	(18)	74	119	141	68	124	118
BJ's Restaurants	Huntington Beach	CA	Dec15	45	27	21	31	32	23	13	10	12
ICU Medical	San Clemente	CA	Dec15	45	26	40	41	45	30	25	24	23
Multi-Fineline Electronix Inc	Irvine	CA	Dec15	45	(85)	(66)	29	38	30	46	40	3
Tutor Perini Corp	Sylmar	CA	Dec15	45	108	87	(265)	86	104	137	(75)	97
WD-40 Company	San Diego	CA	Aug15	45	44	40	35	36	36	26	28	32
Exponent Inc	Menlo Park	CA	Dec15	44	41	39	37	33	28	22	23	20
TriCo Bancshares	Chico	CA	Dec15	44	26	27	19	19	6	10	17	26
Hercules Capital	Palo Alto	CA	Dec15	43	71	99	47	47	5	14	21	42
Lions Gate Entertainment Corp	Santa Monica	CA	Mar16	43	182	152	232	(39)	(30)	(30)	(180)	(87)
Zeltiq Aesthetics	Pleasanton	CA	Dec15	42	2	(19)	(30)	(10)	(14)	(18)	(21)	(11)
McGrath RentCorp	Livermore	CA	Dec15	40	46	43	45	50	36	33	41	42
Impax Laboratories	Hayward	CA	Dec15	39	57	101	56	65	250	50	16	125
Power Integrations	San Jose	CA	Dec15	39	60	57	(34)	34	49	23	2	27
RPX Corp	San Francisco	CA	Dec15	39	39	41	39	29	14	2	(5)
Tetra Tech	Pasadena	CA	Sep15	39	109	(2)	105	93	77	87	61	46
Green Dot Corp	Pasadena	CA	Dec15	38	43	34	47	52	42	37	17	5
Natus Medical Inc	Pleasanton	CA	Dec15	38	32	23	4	(11)	12	11	18	10
Smart & Final Stores Inc	Commerce	CA	Dec15	38	33	8	5	7	(0)	(3)
GoPro	San Mateo	CA	Dec15	36	128	61	32	25	12
SINA Corp	Sunnyvale	CA	Dec15	36	162	44	32	(302)	(19)	412	81	54
Consumer Portfolio Services Inc	Irvine	CA	Dec15	35	30	21	69	(14)	(33)	(58)	(26)	14
Finisar Corp	Sunnyvale	CA	Apr16	35	12	112	(8)	43	88	(23)	(262)	(33)
Monolithic Power Systems	San Jose	CA	Dec15	35	35	23	16	13	30	20	24	12
Electronics For Imaging	Fremont	CA	Dec15	34	34	109	83	27	7	(2)	(113)	27
Central Garden & Pet Co	Walnut Creek	CA	Sep15	33	10	(1)	22	28	48	68	(267)	34
Diamond Foods	Stockton	CA	Jul15	33	(165)	(160)	(86)	27	16	24	15	8
Financial Engines	Sunnyvale	CA	Dec15	32	37	30	19	15	64	5	(4)	(2)
TriNet Group Inc	San Leandro	CA	Dec15	32	15	13	32	15	(9)	18	9
Abaxis Inc	Union City	CA	Mar16	31	21	16	31	16	15	13	12	13
Korn/Ferry Intl	Los Angeles	CA	Apr16	31	88	73	33	54	59	5	(10)	66
Newport Corp	Irvine	CA	Dec15	31	35	16	(90)	80	41	(17)	(149)	40
Omnicell Inc	Mountain View	CA	Dec15	31	31	24	16	10	5	0	13	43
Preferred Bank	Los Angeles	CA	Dec15	30	25	19	24	12	(17)	(73)	(5)	26
Resources Connection Inc	Irvine	CA	May16	30	28	20	21	41	25	(12)	18	49
CorVel Corp	Irvine	CA	Mar16	29	29	34	27	27	25	26	19	23
SciClone Pharmaceuticals	Foster City	CA	Dec15	29	25	11	10	28	21	12	(8)	(10)
Universal Electronics	Santa Ana	CA	Dec15	29	33	23	17	20	15	15	16	20
Atmel Corp	San Jose	CA	Dec15	27	35	(22)	30	315	423	(109)	(27)	48
CAI Intl Inc	San Francisco	CA	Dec15	27	60	65	64	51	28	14	(27)	19
Calavo Growers	Santa Ana	CA	Oct15	27	(0)	(3)	16	11	18	14	8	7
Farmers & Merchants Bancorp	Lodi	CA	Dec15	27	25	24	23	22	21	20	23	23
Entravision Communication	Santa Monica	CA	Dec15	26	27	134	14	(8)	(18)	(50)	(525)	40
OSI Systems	Hawthorne	CA	Jun16	26	65	48	44	46	33	24	11	14
Owens Realty Mortgage	Wanut Creek	CA	Dec15	26	8	11	(1)	(24)
Pacific Premier Bancorp	Irvine	CA	Dec15	26	17	9	16	11	4	(0)	1	4
Fox Factory Holding	Scotts Valley	CA	Dec15	25	28	24	14	14	11	5	4
Retail Opportunity Investments Corp	San Diego	CA	Dec15	25	21	35	8	10	(0)	(9)	3	2
El Pollo Loco Holdings	Costa Mesa	CA	Dec15	24	42	(17)	(8)	(32)
Cubic Corp	San Diego	CA	Sep15	23	70	25	98	84	72	63	37	42
Fly Leasing Ltd	San Francisco	CA	Dec15	23	60	54	48	1	53	89	48
JAKKS Pacific Inc	Malibu	CA	Dec15	23	22	(54)	(105)	8	47	(386)	76	89
Reading Intl Inc	Los Angeles	CA	Dec15	23	26	9	(1)	9	(12)	6	(16)	(3)
Wageworks	San Mateo	CA	Dec15	23	18	22	10	33	(17)	(1)	(4)	(3)
Digirad Corp	Poway	CA	Dec15	22	2	0	(5)	(3)	(6)	1	(7)	(1)
Ellie Mae Inc	Pleasanton	CA	Dec15	22	15	13	19	4	1	2	(1)	1
New Home Company Inc	Aliso Viejo	CA	Dec15	22	5	7	(1)	(2)	(0)
TiVo Inc	San Jose	CA	Jan16	22	31	272	(5)	102	(85)	(23)	104	(32)
ViaSat Inc	Carlsbad	CA	Mar16	22	40	(9)	(41)	8	36	31	38	35
CU Bancorp	Encino	CA	Dec15	21	9	10	2	1	(2)	1	2	0
Exchange Bank	Santa Rosa	CA	Dec15	21	18	16	12	12	10	(4)	(19)
Bank of Marin Bancorp	Novato	CA	Dec15	18	20	14	18	16	14	13	12	12
Sierra Bancorp	Porterville	CA	Dec15	18	15	13	8	8	7	9	13	21
CalAmp Corp	Oxnard	CA	Feb16	17	17	12	45	5	(3)	(11)	(50)	(82)
Heritage Commerce Corp	San Jose	CA	Dec15	16	13	12	10	11	(56)	(12)	2	14
Qualys Inc	Redwood Shores	CA	Dec15	16	30	2	2	2	1	1	(1)	(1)
The Trade Desk	Ventura	CA	Dec15	16	0
TriplePoint Venture Growth BDC	Menlo Park	CA	Dec15	16	14
Anworth Mortgage Asset Corp	Santa Monica	CA	Dec15	15	29	76	100	123	110	130	55	(5)
Big 5 Sporting Goods Corp	El Segundo	CA	Dec15	15	15	28	15	12	21	22	14	28
Bridgford Foods	Anaheim	CA	Oct15	15	(4)	3	4	(0)	4	7	(12)	(0)
Callaway Golf Co	Carlsbad	CA	Dec15	15	16	(19)	(123)	(172)	(19)	(15)	66	55
Guideware Software	Foster City	CA	Jul16	15	10	15	25	19	36	16	(11)	(17)
Heritage Oaks Bancorp	Paso Robles	CA	Dec15	15	9	11	13	8	(18)	(7)	2	7
IXYS Corp	Milpitas	CA	Mar16	15	24	6	8	30	37
Terreno Realty	San Fran	CA	Dec15	15	11	2	(2)	(6)	(6)
B. Riley Financial	Woodland Hills	CA	Dec15	14	(6)	1	4	1	(11)	17	2	(5)
Alliance Fiber Optic Products	Sunnyvale	CA	Dec15	13	15	19	10	4	6	1	4	3
First Foundation	Irvine	CA	Dec15	13	8	8	6	9	(1)
California Republic Bancorp	Irvine	CA	Dec15	12	12	5	8	(2)	2	(3)	(3)	(0)
Inogen	Goleta	CA	Dec15	12	7	25	1	(2)
Pacific Mercantile Bancorp	Costa Mesa	CA	Dec15	12	(1)	(15)	3	12	(14)	(17)	(12)	6
PDF Solutions Inc	San Jose	CA	Dec15	12	18	21	37	2	0	(18)	(96)	(3)
Pericom Semiconductor	Milpitas	CA	Jun15	12	4	(22)	(2)	13	11	6	17	9
American Business Bank	Los Angeles	CA	Dec15	12	11	13	11	10	9	7	5	5
Central Valley Community Bancorp	Fresno	CA	Dec15	11	5	8	8	6	3	3	5	6
Hennessy Advisors	Novato	CA	Sep15	11	8	5	1	1	1	(0)	2	4
Motor Parts of America	Torrance	CA	Mar16	11	11	6	15	14	12	10	4	5
Salem Media Group	Camarillo	CA	Dec15	11	5	(3)	5	6	2	(8)	(35)	9
Semtech Corp	Camarillo	CA	Jan16	11	28	(164)	42	89	73	1	38	48
Affymetrix Inc	Santa Clara	CA	Dec15	10	(4)	(16)	(11)	(28)	(10)	(24)	(308)	13
Boot Barn Holdings Inc	Irvine	CA	Mar16	10	14	6	1	(5)	(1)
Caretrust REIT Inc	Mission Viejo	CA	Dec15	10	(8)	(0)	0	(5)	(2)
Mattson Technology	Freemont	CA	Dec15	10	10	(11)	(19)	(18)	(33)	(67)	(92)	28
AeroVironment Inc	Monrovia	CA	Apr16	9	3	14	10	30	26	21	24	21
A-Mark Precious Metals	Santa Monica	CA	Jun16	9	7	8	13	11	13	7	17
California First National Bancorp	Irvine	CA	Jun16	9	9	7	7	9	11	11	9	7
Habit Restaurants	Irvine	CA	Dec15	9	8	6	3	2	2	0
Jamba Inc	Emeryville	CA	Dec15	9	(4)	2	0	(8)	(17)	(24)	(149)	(113)
Lumentum Holdings	Milpitas	CA	Jun16	9	(3)	11	7	3
Natural Alternatives Intl	Carlsbad	CA	Jun16	9	3	2	2	4	5	4	(0)	1
Oclaro	San Jose	CA	Jun16	9	(48)	(102)	(120)	(64)	(46)	11	(26)	(23)
QAD Inc	Santa Barbara	CA	Jan16	9	13	6	7	11	3	1	(24)	5
RadNet Inc	Los Angeles	CA	Dec15	9	1	2	60	7	(13)	(2)	(13)	(18)
Collectors Universe Inc	Santa Ana	CA	Jun16	8	7	7	6	7	5	17	1	0
FNB Bancorp	South San Francisco	CA	Dec15	8	9	7	9	4	4	1	4	7
Fortinet	Sunnyvale	CA	Dec15	8	25	44	67	62	41	60	7	(22)
GSV Capital Corp	Woodside	CA	Dec15	8	(2)	35	(20)	(4)
Provident Financial Holdings Inc	Riverside	CA	Jun16	8	10	7	26	11	13	1	(7)	1
Tilly's Inc	Irvine	CA	Jan16	8	14	18	24	34	24	21	24	40
HomeFed Corp	Carlsbad	CA	Dec15	7	5	13	7	6	4	3	(10)	9
Intersil Corp	Milpitas	CA	Dec15	7	55	3	(38)	67	26	39	(1,063)	143
JMP Group Inc	San Francisco	CA	Dec15	7	22	14	8	(3)	12	13	(11)	(105)
Limoneira Co	Santa Paula	CA	Oct15	7	7	5	3	2	0	(3)	3	2
United Security Bancshares	Fresno	CA	Dec15	7	6	7	6	(11)	(4)	(5)	4	11
Willis Lease Finance	Novato	CA	Dec15	7	7	16	2	15	12	22	27	18
American Vanguard Corp	Newport Beach	CA	Dec15	6	4	34	37	22	11	(6)	20	19
CEVA Inc	Mountain View	CA	Dec15	6	(1)	7	14	19	11	8	9	1
Cohu Inc	Poway	CA	Dec15	6	15	(29)	(11)	14	24	(28)	(5)	8
Four Corners Property Trust	Mill Valley	CA	Dec15	6	0	0	(0)
Gigamon Inc	Santa Clata	CA	Dec15	6	(41)	(10)	8	17	7	13	8	5
Ixia	Calabasas	CA	Dec15	6	(42)	12	45	27	13	(44)	(16)	7
Quality Systems	Irvine	CA	Mar16	6	27	16	43	76	62	48	46	40
Autobytel	Irvine	CA	Dec15	5	3	38	1	0	(9)	(4)	(84)	(17)
Crimson Wine Group Ltd	Napa	CA	Dec15	5	5	7	0	(4)	(4)	(7)	(4)	(6)
Del Taco Restaurants	Lake Forest	CA	Dec15	5	(9)	(7)	(8)
Electro Rent Corp	Van Nuys	CA	May16	5	15	20	23	26	24	12	12	21
Ruckus Wireless	Sunnyvale	CA	Dec15	5	8	2	32	4	(4)	(10)
United Online Inc	Woodland Hills	CA	Dec15	5	4	(86)	(12)	32	44	70	(95)	58
West Marine Inc	Watsonville	CA	Dec15	5	2	8	15	33	13	12	(39)	(50)
Atlassian Corporation PLC	San Francisco	CA	Jun16	4	7	19	11
e.l.f. Beauty	Oakland	CA	Dec15	4	(8)
NeoPhotonics	San Jose	CA	Dec15	4	(20)	(34)	(18)	(15)	4	(5)	(28)	(42)
Simulations Plus	Lancaster	CA	Aug15	4	3	3	3	3	2	1	2
Willdan Group	Anaheim	CA	Dec 15	4	9	3	(17)	2	3	(6)	(2)	2
1st Century Bancshares	Los Angeles	CA	Dec15	3	2	7	3	1	(2)	(8)	(2)	3
Immersion Corp	San Jose	CA	Dec15	3	4	40	(7)	(3)	(7)	(29)	(50)	116
Mitek Systems Inc	San Diego	CA	Sep15	3	(5)	(7)	(8)	(0)	(1)	(1)	(1)	(0)
Nanometrics Inc	Milpitas	CA	Dec15	3	(31)	(14)	4	29	56	(16)	(83)	(4)
Tejon Ranch Co	Lebec	CA	Dec15	3	6	4	4	16	4	(3)	4	7
DSP Group Inc	Los Altos	CA	Dec15	2	4	3	(8)	(16)	(7)	(8)	(212)	(5)
Penumbra	Alameda	CA	Dec15	2	2	4	2
Rexford Industrial Realty	Los Angeles	CA	Dec15	2	(1)	(9)	(8)	(7)
Daily Journal Corp	Los Angeles	CA	Sep15	1	1	4	6	8	8	8	7	5
GigPeak	San Jose	CA	Dec15	1	(6)	(2)	(7)	(14)	(4)	(10)	(8)	(6)
IRIDEX Corp	Mountain View	CA	Dec15	0	10	2	(0)	2	3	3	(7)	(22)
The Rubican Project	Los Angeles	CA	Dec15	0	(19)	(9)	(2)	(15)
Sigma Designs Inc	Milpitas	CA	Jan16	0	(22)	(11)	(102)	(168)	9	2	26	70
Fincera	San Diego	CA	Dec15	0	(16)	(9)
Blackcraft Cult	Anaheim	CA	Dec15	0	0	0
Evergreen-Agra	Irvine	CA	Dec15	0	(2)	(1)
Geron Corp	Menlo Park	CA	Dec15	0	(36)	(38)	(69)	(97)	(111)	(70)	(62)	(37)
Airgain	San Diego	CA	Dec15	(0)	4	0	(1)
Landmark Infrastructure Partners LP	El Segundo	CA	Dec15	(0)	3	6
Gores Holdings	Beverly Hills	CA	Dec15	(0)	0
Crown Marketing	El Monte	CA	Jun15	(1)	(0)	(0)	(0)
Shutterfly Inc	Redwood City	CA	Dec15	(1)	(8)	9	23	14	17	6	4	10
EMCORE Corp	Alhambra	CA	Sep15	(2)	4	(6)	(21)	(6)
FormFactor Inc	Livermore	CA	Dec15	(2)	(19)	(58)	(36)	(66)	(188)	(156)	(81)	73
Global Eagle Entertainment	Los Angeles	CA	Dec15	(2)	(57)	(115)	(43)	(19)	(19)	(27)
GSI Technology	Sunnyvale	CA	Mar16	(2)	(5)	(6)	4	7	19	10	9	7
Performant Financial	Livermore	CA	Dec15	(2)	9	36	23	12	10	5	4	(3)
US Auto Parts Network	Carson	CA	Dec15	(2)	(7)	(16)	(36)	(15)	(14)	1	(17)	(4)
Youngevity Intl Inc	Chula Vista	CA	Dec15	(2)	5	3	(1)	(152)	(1)
Alpha and Omega Semiconductor Ltd	Sunnyvale	CA	Jun16	(3)	(8)	(3)	(6)	13	38	38	(1)	11
Amphastar Pharmaceuticals	Rancho Cucamonga	CA	Dec15	(3)	(11)	12	18	8	(11)	(15)	55
AXT Inc	Fremont	CA	Dec15	(3)	(1)	(7)	6	26	20	(2)	1	7
ChromaDex Corp	Irvine	CA	Dec15	(3)	(5)	(4)	(12)	(8)	(2)	(1)	(2)	(0)
General Finance Corporation	Pasadena	CA	Jun16	(3)	13	15	11	9	(9)	(9)	(7)	5
Loop Industries	Los Angeles	CA	Feb16	(3)	(0)
Vape Holdings	Agoura Hills	CA	Sep15	(3)	(25)	(0)
Barracuda Networks Inc	Campbell	CA	Feb16	(4)	(67)	(4)	(8)	(0)	2	5	5
Cutera Inc	Brisbane	CA	Dec15	(4)	(11)	(5)	(7)	(10)	(11)	(18)	(3)	11
Loton	Beverly Hills	CA	Mar16	(4)	(6)	0	(2)	(1)	(0)
Rovi Corp	San Carlos	CA	Dec15	(4)	(14)	21	(20)	8	227	(18)	15	40
Stamps.com	El Segundo	CA	Dec15	(4)	37	44	39	26	6	6	10	11
8X8 Inc	San Jose	CA	Mar16	(5)	2	2	14	69	6	4	(3)	0
Adept Technology	Pleasanton	CA	Jun15	(5)	(1)	(10)	(4)	(7)	(1)	(13)	4	(12)
eHealth Inc	Mountain View	CA	Dec15	(5)	(16)	2	7	7	17	15	14	32
Fulgent Genetics	Temple City	CA	Dec15	(5)	(1)
LendingClub Corp	San Francisco	CA	Dec15	(5)	(33)	7	(7)	(12)	(11)	(10)	(12)	(7)
ShoreTel Inc	Sunnyvale	CA	Jun16	(5)	(4)	(1)	(26)	(21)	(11)	(13)	(13)	2
Corcept Therapeutics Inc	Menlo Park	CA	Dec15	(6)	(31)	(46)	(38)	(32)	(26)	(20)	(20)	12
Quidel Corp	San Diego	CA	Dec15	(6)	(7)	7	5	8	(11)	33	19	14
Glu Mobile Inc	San Francisco	CA	Dec15	(7)	8	(20)	(20)	(21)	(13)	(18)	(107)	(3)
STAAR Surgical	Monrovia	CA	Dec15	(7)	(8)	0	(2)	1	(4)	(7)	(25)	(17)
Codexis Inc	Redwood City	CA	Dec15	(8)	(19)	(41)	(31)	(17)	(9)	(20)	(45)	(39)
Imageware Systems Inc	San Diego	CA	Dec15	(9)	(8)	(10)	(10)	(3)	(5)	(13)	(6)	(5)
Intevac Inc	Santa Clara	CA	Dec15	(9)	(27)	(16)	(55)	(22)	28	(10)	(15)	27
MediciNova Inc	La Jolla	CA	Dec15	(9)	(9)	(4)	(11)	(18)	(20)	(20)	(22)	(49)
OncoCyte	Alameda	CA	Dec15	(9)	(5)	(3)
Terra Tech Corp	Newport Beach	CA	Dec15	(9)	(22)	(6)	(6)	(2)
Western Asset Mortgage Capital	Pasadena	CA	Dec15	(9)	101	(28)	57
Atomera	Los Gatos	CA	Dec15	(10)	(4)	(3)
Landec Corp	Menlo Park	CA	May16	(11)	14	19	23	13	4	4	8	14
Silicon Graphics Intl	Milpitas	CA	Jun16	(11)	(39)	(53)	(3)	(24)	(21)	(89)	(31)	(42)
Titan Pharmaceuticals	San Francisco	CA	Dec15	(11)	(2)	10	(15)	(15)	(6)	(6)	(25)	(18)
Ultra Clean Holdings	Hayward	CA	Dec15	(11)	11	10	5	24	20	(20)	(52)	16
Aqua Metals	Alameda	CA	Dec15	(12)	(2)
DTS Inc	Calabasas	CA	Dec15	(12)	27	16	(16)	18	15	11	10	10
Energy Recovery	San Leandro	CA	Dec15	(12)	(19)	(3)	(8)	(26)	(4)	4	9	6
Callidus Software	Dublin	CA	Dec15	(13)	(12)	(21)	(28)	(16)	(13)	(18)	(14)	(13)
Iteris	Santa Ana	CA	Mar16	(13)	(1)	1	1	1	(5)	2	10	12
Senomyx	San Diego	CA	Dec15	(13)	(12)	(12)	(9)	(9)	(11)	(26)	(27)	(22)
Guidance Software	Pasadena	CA	Dec15	(14)	(15)	(22)	(2)	(2)	(5)	(14)	(11)	(3)
Infoblox Inc	Santa Clara	CA	Jul16	(14)	(27)	(24)	(4)	(8)	(5)	7	(10)	(11)
Inphi Corp	Sunnyvale	CA	Dec15	(14)	(23)	(13)	(21)	2	26	7	(3)	(5)
Ooma Inc	Palo Alto	CA	Jan16	(14)	(6)	(2)	(4)
TubeMogul	Emeryville	CA	Dec15	(14)	(4)	(7)	(4)	(4)
Protagonist Therapeutics	Milpitas	CA	Dec15	(15)	(11)
Asterias Biotherapeutics	Fremont	CA	Dec15	(15)	(10)	(22)	(1)
Fairchild Semiconductor Intl	San Jose	CA	Dec15	(15)	(35)	5	25	146	153	(60)	(167)	64
iPass Inc	Redwood Shores	CA	Dec15	(15)	(12)	(15)	(6)	(3)	(3)	(13)	(92)	(34)
Ultratech Inc	San Jose	CA	Dec15	(15)	(19)	(14)	47	39	17	2	12	(1)
AppFolio	Goleta	CA	Dec15	(16)	(9)	(7)	(12)
Exar Corporation	Fremont	CA	Mar16	(16)	(45)	6	3	(28)	(36)	(28)	(73)	(196)
Harmonic Inc	San Jose	CA	Dec15	(16)	(46)	22	(16)	2	(12)	(32)	64	23
Hudson Pacific Properties	Los Angeles	CA	Dec15	(16)	24	1	(5)	(6)	(4)	(1)	(3)	(4)
Live Nation Entertainment	Beverly Hills	CA	Dec15	(16)	(104)	(36)	(162)	(70)	(204)	(126)	(333)	(62)
Obalon Therapeutics	San Diego	CA	Dec15	(16)	(10)
Sequenom Inc	San Diego	CA	Dec15	(16)	(14)	(110)	(117)	(80)	(126)	(71)	(44)	(22)
Aerojet Rocketdyne Holdings	Rancho Cordova	CA	Nov15	(17)	(49)	163	(6)	3	6	59	(5)	35
Cavium Inc	San Jose	CA	Dec15	(17)	(26)	(14)	(114)	0	37	(21)	2	2
Vocera Communications	San Jose	CA	Dec15	(17)	(28)	(10)	3	(2)	1	(1)	(6)	(4)
YuMe Inc	Redwood City	CA	Dec15	(17)	(9)	0	6	(11)	(0)
PCM Inc	El Segundo	CA	Dec15	(18)	7	9	6	5	7	3	10	12
Xencor	Monrovia	CA	Dec15	(18)	(16)	(60)	(9)	(11)
Cellular Biomedicine Group	Cupertino	CA	Dec15	(19)	(12)	(11)	(7)	(2)
Cytori Therapeutics	San Diego	CA	Dec15	(19)	(37)	(26)	(32)	(32)	(27)	(23)	(30)	(29)
Innoviva	Brisbane	CA	Dec15	(19)	(74)	(31)	(31)	(27)	(23)	(85)	(94)	(160)
Pacific Ethanol	Sacramento	CA	Dec15	(19)	26	(1)	(43)	(4)	69	(309)	(199)	(14)
QuinStreet Inc	Foster City	CA	Jun16	(19)	(20)	(146)	(67)	13	27	21	17	13
Biolase	Irvine	CA	Dec15	(20)	(19)	(11)	(3)	(4)	(12)	(3)	(9)	(7)
Ekso Bionics Holdings	Richmond	CA	Dec15	(20)	(34)	(12)	(15)	(9)
Model N Inc	Redwood City	CA	Sep15	(20)	(21)	(1)	(6)	1	1
Second Sight Medical Products	Sylmar	CA	Dec15	(20)	(35)	(23)	(16)
InvenSense Inc	San Jose	CA	Mar16	(21)	(1)	6	52	37	9	15	0	(7)
Boingo Wireless	Los Angeles	CA	Dec15	(22)	(19)	(3)	8	7	16	1	(6)	(3)
Maxwell Technologies Inc	San Diego	CA	Dec15	(22)	(6)	6	7	(1)	(6)	(23)	(15)	(16)
Talend SA	Redwood City	CA	Dec15	(22)	(23)	(20)
DURECT Corp	Cupertino	CA	Dec15	(23)	(22)	(21)	16	(19)	(23)	(30)	(44)	(24)
Kura Oncology	La Jolla	CA	Dec15	(23)	(4)
MyoKardia	South San Francisco	CA	Dec15	(23)	(17)	(13)
8Point3 Energy Partners LP	San Jose	CA	Dec15	(24)	(1)	(4)
AcelRx Pharmaceuticals	Redwood City	CA	Dec15	(24)	(33)	(23)	(33)	(20)	(14)	(20)	(21)	(10)
Cadiz Inc	Los Angeles	CA	Dec15	(24)	(19)	(23)	(20)	(17)	(16)	(14)	(16)	(14)
Xactly	San Jose	CA	Jan16	(25)	(19)	(15)	(9)	(8)
Accuray Inc	Sunnyvale	CA	Jun16	(26)	(40)	(35)	(97)	(71)	(27)	3	1	5
Audentes Therapeutics	San Francisco	CA	Dec15	(26)	(11)	(3)
Calix Inc	Petaluma	CA	Dec15	(26)	(21)	(17)	(28)	(53)	(19)	(22)	(13)	(25)
Five9 Inc	San Ramon	CA	Dec15	(26)	(38)	(31)	(19)	(8)	(2)	(1)
TTM Technologies	Costa Mesa	CA	Dec15	(26)	15	24	(181)	47	80	5	(37)	35
Achaogen Inc	South San Francisco	CA	Dec15	(27)	(20)	(13)	(18)
Intersect ENT	Menlo Park	CA	Dec15	(27)	(18)	(18)	(16)
Quotient Technology Inc	Mountain View	CA	Dec15	(27)	(23)	(11)	(59)	(23)	(12)	(9)
TrovaGene Inc	San Diego	CA	Dec15	(27)	(14)	(12)	(12)	(2)	(5)	(2)
Corium Intl	Menlo Park	CA	Sep15	(28)	(10)	(14)	(5)
Energous Corp	San Jose	CA	Dec15	(28)	(46)	(6)
NMI Holdings	Emeryville	CA	Dec15	(28)	(49)	(55)	(27)	(1)
Pfenex	San Diego	CA	Dec15	(28)	(10)	(4)	(3)
Inovio Pharmaceuticals	San Diego	CA	Dec15	(29)	(36)	(66)	(20)	(15)	(18)	(24)	(13)	(11)
Tower Semiconductor Ltd	Santa Clara	CA	Dec15	(29)	(1)	(108)	(70)	(19)	(42)	(120)	(105)	(134)
Ardelyx	Fremont	CA	Dec15	(30)	(3)	(7)	(10)
Corvus Pharmaceuticals	Burlingame	CA	Dec15	(31)	(0)
Cidara Therapeutics	San Diego	CA	Dec15	(32)	(12)	(1)
Extreme Networks	San Jose	CA	Jun16	(32)	(72)	(57)	10	16	3	0	3	8
Halozyme Therapeutics	San Diego	CA	Dec15	(32)	(68)	(83)	(54)	(20)	(53)	(58)	(49)	(24)
Pacific Biosciences of California	Menlo Park	CA	Dec15	(32)	(66)	(79)	(94)	(109)	(140)	(88)	(44)	(22)
PICO Holdings	La Jolla	CA	Dec15	(32)	(46)	(6)	(16)	(57)	(20)	(22)	28	(2)
Real Industry Inc	Sherman Oaks	CA	Dec15	(32)	(0)	(14)	(7)	(10)	(25)	(18)	(40)	(103)
RingCentral Inc	Belmont	CA	Dec15	(32)	(48)	(46)	(35)	(14)	(7)	(6)
Applied Micro Circuits	Santa Clara	CA	Mar16	(33)	(52)	(6)	(134)	(83)	(1)	(14)	(261)	(45)
Genomic Health	Redwood City	CA	Dec15	(33)	(25)	(13)	8	8	4	(9)	(16)	(27)
Kratos Defense & Security Solutions	San Diego	CA	Dec15	(33)	(76)	(30)	(115)	(19)	15	(38)	(104)	(27)
Yelp Inc	San Fran	CA	Dec15	(33)	36	(10)	(19)	(17)	(10)	(2)	(6)	(3)
Veracyte	South San Francisco	CA	Dec15	(34)	(29)	(26)	(19)	(14)
Anthera Pharmaceuticals	Hayward	CA	Dec15	(35)	(30)	(31)	(45)	(99)	(40)	(12)	(18)	(26)
CytomX Therapeutics	South San Francisco	CA	Dec15	(35)	(30)	(15)
Jive Software Inc	Palo Alto	CA	Dec15	(35)	(56)	(75)	(47)	(51)	(28)	(5)	(11)	(4)
Telenav Inc	Santa Clara	CA	Jun16	(35)	(23)	(30)	6	32	45	41	30	5
Aimmune Therapeutics	Brisbane	CA	Dec15	(36)	(11)	(5)
Mindbody	San Luis Obispo	CA	Dec15	(36)	(25)	(16)	(6)
Twilio	San Fran	CA	Dec15	(36)	(27)	(27)
Cytokinetics Inc	South San Francisco	CA	Dec15	(38)	(15)	(34)	(40)	(48)	(49)	25	(56)	(49)
Glaukos Corp	Laguna Hills	CA	Dec15	(38)	(14)	(14)	(22)
Invuity	San Francisco	CA	Dec15	(38)	(21)	(12)
Lombard Medical	Irvine	CA	Dec15	(38)	(35)	(19)	(13)	(16)
Aduro Bio Tech	Berkeley	CA	Dec15	(39)	(17)	(16)	(9)
Organovo Holdings	San Diego	CA	Mar16	(39)	(30)	(26)	(44)	(4)
A10 Networks Inc	San Jose	CA	Dec15	(40)	(36)	(29)	(90)	7	5
Servicesource Intl	San Francisco	CA	Dec15	(40)	(95)	(23)	(43)	15	(3)	10	5	10
Sangamo Biosciences Inc	Richmond	CA	Dec15	(41)	(26)	(27)	(22)	(36)	(25)	(19)	(24)	(21)
Sientra	Santa Barbara	CA	Dec15	(41)	(6)	(19)	(23)
Apigee	San Jose	CA	Jul16	(42)	(50)	(61)	(26)	(8)
GenMark Diagnostics	Carlsbad	CA	Dec15	(42)	(38)	(34)	(22)	(24)	(18)	(20)	(28)	(24)
La Jolla Pharmaceutical Co	San Diego	CA	Dec15	(42)	(21)	(18)	(8)	(12)	(4)	(9)	(63)	(53)
MaxLinear Inc	Carlsbad	CA	Dec15	(42)	(7)	(13)	(13)	(22)	10	4	(2)	(9)
Zogenix	Emeryville	CA	Dec15	(42)	61	(73)	(34)	(62)	(74)	(46)	(46)	(28)
Demand Media Inc	Santa Monica	CA	Dec15	(44)	(256)	(14)	(5)	(36)	(15)	(22)	(15)	(6)
Eiger Biopharmaceuticals	Palo Alto	CA	Dec15	(44)	(34)	(20)	(16)	(7)
Aerohive Networks	Milpitas	CA	Dec15	(46)	(31)	(33)	(25)	(15)	(12)
Coupa Software	San Mateo	CA	Jan16	(46)	(27)
Global Blood Therapeutics	South San Francisco	CA	Dec15	(46)	(21)	(18)
Adverum Biotechnologies	Menlo Park	CA	Dec15	(47)	(25)	(5)	(2)
Avinger Inc	Redwood City	CA	Dec15	(47)	(32)	(40)	(34)
ChemoCentryx Inc	Mountain View	CA	Dec15	(47)	(47)	(39)	(40)	(5)	(3)	16	(18)	(16)
Salesforce.com	San Fran	CA	Jan16	(47)	(263)	(232)	(270)	(12)	70	85	48	23
American Homes 4 Rent	Agoura Hills	CA	Dec15	(48)	(33)	(20)	(10)	(0)
Cepheid	Sunnyvale	CA	Dec15	(49)	(50)	(18)	(20)	3	(6)	(23)	(22)	(22)
Imperva	Redwood Shores	CA	Dec15	(49)	(59)	(26)	(8)	(11)	(12)	(12)	(8)	(7)
Endologix Inc	Irvine	CA	Dec15	(50)	(32)	(16)	(36)	(29)	11	(2)	(12)	(15)
Sorrento Therapeutics	San Diego	CA	Dec15	(50)	(35)	(22)	(5)	(3)	(2)	(1)	(0)
Tobira Therapeutics	South San Francisco	CA	Dec15	(50)	(24)	(19)
Viavi Solutions Inc	Milpitas	CA	Jun16	(50)	(131)	(75)	11	(65)	79	(60)	(906)	(42)
Rigel Pharmaceuticals	South San Francisco	CA	Dec15	(51)	(91)	(89)	(99)	(86)	38	(112)	(132)	(74)
Adamas Pharmaceuticals	Emeryville	CA	Dec15	(52)	10	51	18	(8)
Novatel Wireless	San Diego	CA	Dec15	(52)	(39)	(43)	(89)	(25)	(33)	4	(1)	39
Vital Therapies	San Diego	CA	Dec15	(52)	(48)	(33)	(7)	(6)
Fluidigm	South San Francisco	CA	Dec15	(53)	(53)	(17)	(19)	(32)	(17)	(19)	(29)	(25)
Dreamworks Animation SKG	Glendale	CA	Dec15	(54)	(308)	56	(36)	87	171	151	142	218
Cerus Corp	Concord	CA	Dec15	(56)	(39)	(43)	(16)	(17)	(17)	(24)	(29)	(39)
Pattern Energy Group	San Fran	CA	Dec15	(56)	(40)	10	(13)	26	7
Peregrine Pharmaceuticals	Tustin	CA	Apr16	(56)	(50)	(35)	(30)	(42)	(34)	(14)	(17)	(23)
Regulus Therapeutics	San Diego	CA	Dec15	(56)	(57)	(19)	(17)	(8)	(16)
SeaSpine Holdings	Carlsbad	CA	Dec15	(56)	(25)	(26)	(30)
Atara Biotherapeutics	South San Francisco	CA	Dec15	(57)	(28)	(9)	(4)
BioTime Inc	Alameda	CA	Dec15	(58)	(44)	(53)	(25)	(18)	(12)	(5)	(4)	(1)
DexCom Inc	San Diego	CA	Dec15	(58)	(22)	(30)	(55)	(45)	(55)	(54)	(59)	(48)
Chegg Inc	Santa Clara	CA	Dec15	(59)	(65)	(56)	(49)	(38)	(26)	(24)	(3)
Anacor Pharmaceuticals	Palo Alto	CA	Dec15	(61)	(87)	85	(56)	(48)	(10)	(25)	(22)	(12)
Otonomy	San Diego	CA	Dec15	(62)	(43)	(20)	(8)
ReachLocal Inc	Woodland Hills	CA	Dec15	(62)	(46)	3	4	(4)	(8)	11	(7)	(3)
Mirati Therapeutics	San Diego	CA	Dec15	(65)	(44)	(53)	(20)	(10)
Raptor Pharmaceuticals	Novato	CA	Dec15	(65)	(53)	(69)	(39)	(37)	(19)	(9)	(8)
TrueCar Inc	Santa Monica	CA	Dec15	(65)	(48)	(25)	(74)	(9)	(4)	(7)
Nevro Corp	Redwood City	CA	Dec15	(67)	(31)	(26)	(19)
New Relic	San Fran	CA	Mar16	(67)	(50)	(40)	(23)	(8)
Marketo Inc	San Mateo	CA	Dec15	(69)	(55)	(47)	(34)	(22)	(12)	(6)
Bridgepoint Education Inc	San Diego	CA	Dec15	(70)	10	46	121	171	126	47	26	3
Natera	San Carlos	CA	Dec15	(70)	(5)	(37)	(76)
Aecom	Los Angeles	CA	Sep15	(71)	233	243	(57)	284	249	201	160	105
Nant Health	Culver City	CA	Dec15	(72)	(85)	(41)
Tandem Diabetes Care	San Diego	CA	Dec15	(72)	(80)	(63)	(33)	(26)
Ducommun Inc	Carson	CA	Dec15	(73)	20	11	18	(49)	18	10	13	20
Revance Therapeutics	Newark	CA	Dec15	(73)	(63)	(52)	(58)	(45)
Quantum Corp	San Jose	CA	Mar16	(75)	17	(21)	(52)	(9)	6	17	(358)	(60)
Depomed Inc	Newark	CA	Dec15	(76)	132	43	(30)	71	4	(22)	(15)	49
Dermira	Menlo Park	CA	Dec15	(78)	(32)	(22)	(20)
Castlight Health	San Fran	CA	Dec15	(80)	(86)	(62)	(35)	(20)
Nektar Therapeutics	San Fran	CA	Dec15	(81)	(54)	(162)	(172)	(134)	(38)	(103)	(34)	(33)
Prothena Corp plc	South San Francisco	CA	Dec15	(81)	(7)	(41)	(41)	(30)	(12)	(1)
Versartis	Menlo Park	CA	Dec15	(82)	(58)	(18)	(13)	(7)
Xenoport Inc	Redwood City	CA	Dec15	(82)	(49)	(86)	(31)	(33)	(82)	(66)	(63)	28
Reva Medical Inc	San Diego	CA	Dec15	(83)	(51)	(28)	(24)	(21)	(24)	(14)	(13)	(13)
Mobileiron	Mountain View	CA	Dec15	(84)	(62)	(32)	(47)	(26)
Zendesk	San Fran	CA	Dec15	(84)	(67)	(23)	(24)	(7)
Oncomed Pharmaceuticals	Redwood City	CA	Dec15	(85)	(50)	(26)	(22)	(15)	(27)	(21)	(20)	(22)
Cornerstone OnDemand	Santa Monica	CA	Dec15	(86)	(65)	(40)	(31)	(64)	(48)	(8)	(10)	(6)
FibroGen	San Fran	CA	Dec15	(86)	(60)	(15)	(33)
Ionis Pharmaceuticals	Carlsbad	CA	Dec15	(88)	(39)	(61)	(65)	(85)	(61)	(31)	(10)	(10)
Neurocrine Biosciences	San Diego	CA	Dec15	(89)	(61)	(46)	5	38	(8)	(51)	(89)	(207)
InVitae	San Fran	CA	Dec15	(90)	(47)	(25)	(9)
Arrowhead Pharmaceuticals	Pasadena	CA	Sep15	(92)	(59)	(32)	(22)	(9)	(4)	(19)	(34)	(36)
Ignyta	San Diego	CA	Dec15	(92)	(40)	(14)	(1)
VIVUS Inc	Mountain View	CA	Dec15	(93)	(83)	(175)	(140)	(47)	(75)	(53)	(9)	(2)
Heron Therapeutics	Redwood City	CA	Dec15	(98)	(76)	(55)	(24)	(11)	(7)	(10)	(23)	(20)
Kite Pharma	Santa Monica	CA	Dec15	(102)	(43)	(6)	(3)
Proofpoint	Sunnyvale	CA	Dec15	(106)	(64)	(28)	(20)	(20)	(21)	(20)	(26)	(12)
Dynavax Technologies	Berkeley	CA	Dec15	(107)	(91)	(67)	(70)	(49)	(57)	(15)	(27)	(69)
Arena Pharmaceuticals	San Diego	CA	Dec15	(108)	(61)	(19)	(85)	(109)	(125)	(153)	(238)	(143)
Nimble Storage	San Jose	CA	Jan16	(120)	(99)	(43)	(28)	(17)	(7)
Zynga Inc	San Francisco	CA	Dec15	(122)	(226)	(37)	(209)	(404)	91	(53)	(22)	(1)
NetSuite	San Mateo	CA	Dec15	(124)	(100)	(70)	(35)	(32)	(27)	(24)	(17)	(25)
TerraVia Holdings	South San Francisco	CA	Dec15	(141)	(162)	(116)	(83)	(54)	(16)	(14)	(15)	(5)
Ultragenyx Pharmaceuticals	Novato	CA	Dec15	(146)	(60)	(35)	(16)	(7)
Wesco Aircraft Holdings	Valencia	CA	Sep15	(155)	102	105	92	76	74	58	59	33
Acacia Research	Newport Beach	CA	Dec15	(157)	(67)	(59)	59	22	37	(6)	(14)	(7)
ACADIA Pharmaceuticals	San Diego	CA	Dec15	(164)	(92)	(38)	(21)	(23)	15	(45)	(64)	(56)
LinkedIn	Mountain View	CA	Dec15	(165)	(15)	27	22	12	3	(4)	(5)	0
Nutanix	San Jose	CA	Jul16	(168)	(126)	(84)	(45)	(14)
Exelixis Inc	South San Francisco	CA	Dec15	(170)	(269)	(245)	(148)	76	(92)	(140)	(176)	(111)
Pandora Media	Oakland	CA	Dec15	(170)	(30)	(27)	(38)	(20)	(11)	(17)	(28)	(14)
Biomarin Pharmaceutical	Novato	CA	Dec15	(172)	(134)	(176)	(114)	(54)	206	(0)	31	(16)
Hortonworks	Santa Clara	CA	Dec15	(179)	(177)	(37)	(12)
Relypsa	Redwood City	CA	Dec15	(179)	(80)	(74)	(44)	(26)
Square	San Fran	CA	Dec15	(180)	(154)	(104)	(85)
Theravance Biopharma	South San Francisco	CA	Dec15	(182)	(237)	(156)	(10)	(109)	(80)
Solar Power Inc/SPI Energy	Roseville	CA	Dec15	(185)	(5)	(32)	(25)	(0)	(9)	(7)	(9)	(7)
ServiceNow	Santa Clara	CA	Dec15	(198)	(179)	(74)	(37)	10	(30)	(6)	(6)	(4)
Box Inc	Redwood City	CA	Jan16	(203)	(168)	(169)	(113)	(50)
Rocket Fuel Inc	Redwood City	CA	Dec15	(211)	(64)	(21)	(10)	(4)	(3)
Pure Storage	Mountain View	CA	Jan16	(214)	(183)	(79)	(23)
Amyris Inc	Emeryville	CA	Dec15	(218)	2	(235)	(206)	(180)	(83)	(65)	(42)	(12)
Coherus Biosciences	Redwood City	CA	Dec15	(224)	(87)	(54)	(33)	(8)
Palo Alto Networks	Santa Clara	CA	Jul16	(226)	(165)	(226)	(226)	(29)	1	(13)	(21)	(19)
Portola Pharmaceuticals	South San Francisco	CA	Dec15	(227)	(137)	(83)	11	20	(20)
Kaiser Aluminum	Foothill Ranch	CA	Dec15	(237)	72	105	86	25	12	71	(69)	101
Nantkwest	San Diego	CA	Dec15	(237)	(6)	(2)
Puma Biotechnology	Los Angeles	CA	Dec15	(239)	(142)	(55)	(74)	(10)
99 Cents Only Stores	City of Commerce	CA	Jan16	(241)	6	(12)	(9)	44	74	60	10	3
Sunrun	San Fran	CA	Dec15	(249)	(157)	(65)
Splunk	San Fran	CA	Jan16	(279)	(217)	(79)	(37)	(11)	(4)	(7)	(15)	(7)
Workday	Pleasanton	CA	Jan16	(290)	(248)	(173)	(119)	(80)	(56)	(50)	(51)	(25)
SunPower Corp	San Jose	CA	Dec15	(299)	183	34	(352)	(614)	167	33	(124)	28
McClatchy Co	Sacramento	CA	Dec15	(300)	376	16	(4)	50	33	57	3	(2,727)
Autodesk	San Rafael	CA	Jan16	(331)	82	229	247	285	212	58	184	356
KKR Financial Holdings	San Francisco	CA	Dec15	(335)	(113)	293	348	318	371	77	(1,078)	217
MannKind Corp	Valencia	CA	Dec15	(368)	(198)	(191)	(169)	(161)	(171)	(220)	(303)	(293)
Cypress Semiconductor	San Jose	CA	Dec15	(381)	17	(50)	(25)	167	75	(150)	(319)	367
Twitter	San Francisco	CA	Dec15	(521)	(578)	(645)	(79)	(128)	(67)
FireEye	Milpitas	CA	Dec15	(539)	(444)	(121)	(36)	(17)	(9)	(9)
HCP Inc	Irvine	CA	Dec15	(546)	907	911	801	550	321	103	228	136
Advanced Micro Devices	Sunnyvale	CA	Dec15	(660)	(403)	(83)	(1,183)	495	471	296	(2,412)	(2,808)
SolarCity Corp	San Mateo	CA	Dec15	(769)	(375)	(152)	(114)	(74)	(47)	(23)	(26)	(11)
Marvell Technology Group	Santa Clara	CA	Jan16	(811)	435	315	307	615	904	353	147	(114)
Symantec	Mountain View	CA	Mar16	(821)	109	91	(138)	123
Tesla Motors	Palo Alto	CA	Dec15	(889)	(294)	(74)	(396)	(254)	(154)	(56)	(83)	(78)
Oaktree Capital Group LLC	Los Angeles	CA	Dec15	(1,533)	2,176	6,211	6,672	(309)	5,281	11,874	(7,638)	931
Yahoo!	Sunnyvale	CA	Dec15	(4,351)	7,532	1,377	3,951	1,063	1,245	605	425	642
Total all 591 Non-Oil&Gas				206,585	200,343	178,995	155,885	151,805	120,816	91,220	20,851	60,613
2015 Total Earnings % Above:
….. 2014 Earnings				3%
….. 2013 Earnings				15%
….. 2012 Earnings				33%
….. 2011 Earnings				36%
….. 2010 Earnings				71%
….. 2009 Earnings				126%
….. 2008 Earnings				891%
….. 2007 Earnings				241%