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Torray

Q2 2014 13F · by James Bailey, portfolio manager

As of
Jun 30, 2014
Filed
Aug 13, 2014
US stock
$987M · prev $590M
Positions
91 · prev 87
Options notional
$0
Documents
1· no amendments

Picture99.9% US stock

Full picture · of what this 13F reports is US stock

  • US stock listed on a US exchange 99.9%
  • Foreign stock not listed in the US 0.1%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves64 since the prior filing

The book

Diversified · behaves like 54 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Low turnover · 7.2% a year, about 14.0 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions14% of US stock

  1. BAX Baxter International Inc. added−0.09 pp added−0.093.2%
  2. EOG EOG Resources, Inc. added+1.20 pp added+1.202.9%
  3. AAPL Apple Inc. added+0.99 pp added+0.992.7%
  4. DHR Danaher Corporation added+1.04 pp added+1.042.6%
  5. QCOM Qualcomm Inc added+0.88 pp added+0.882.6%

Positions91 in this filing · 3 exited

BAXBaxter International Inc.3.17%432,942$31Madded+66%−0.09 pp5 q
EOGEOG Resources, Inc.2.90%245,356$29Madded+20%+1.20 pp5 q
AAPLApple Inc.2.67%283,734$26Madded×2.2+0.99 pp5 q
DHRDanaher Corporation2.62%329,098$26Madded×2.6+1.04 pp5 q
QCOMQualcomm Inc2.58%321,379$25Madded×2.5+0.88 pp5 q
VVISA Inc.2.57%120,454$25Madded×2.9+1.03 pp5 q
ENBEnbridge, Inc2.52%525,000$25Madded×2.4+0.82 pp5 q
UTXZRTX Corporation2.51%214,843$25Madded×2.6+0.90 pp5 q
FISVFiserv, Inc.2.50%409,773$25Madded×2.6+0.99 pp5 q
AMTAmerican Tower Corporation2.37%259,812$23Madded×2.6+0.98 pp5 q
CLColgate-Palmolive Company2.25%326,324$22Madded×2.5+0.83 pp5 q
unresolvedExpress Scripts Hldg Co2.23%318,141$22Madded×2.9+0.81 pp4 q
ACNAccenture PLC2.21%270,285$22Madded×2.7+0.84 pp5 q
PXGBXPraxair Inc2.20%163,565$22Madded×2.6+0.81 pp5 q
unresolvedPrecision Castparts Corp2.19%85,615$22Madded×2.7+0.81 pp5 q
FMCFMC Corporation2.16%300,238$21Madded×2.8+0.79 pp5 q
VFCV.F. Corporation2.11%331,435$21Madded×2.7+0.84 pp2 q
BENFranklin Templeton, Inc.2.03%346,515$20Madded×2.5+0.78 pp5 q
CMICummins Inc.1.93%123,823$19Madded×2.5+0.68 pp5 q
NKENike, Inc.1.93%245,908$19Madded×2.7+0.81 pp5 q
APHAmphenol Corporation1.92%197,010$19Madded×2.4+0.67 pp5 q
WFCWells Fargo & Co.1.84%345,200$18Mtrimmed−10%−1.38 pp5 q
AKAMAkamai Technologies Inc1.78%287,715$18Madded×2.7+0.73 pp3 q
BMRNBioMarin Pharmaceuticals Inc1.73%275,185$17Madded×4.2+0.98 pp2 q
GILDGilead Sciences Inc1.67%198,464$16Madded×2.7+0.80 pp5 q
CLBCore Laboratories Inc.1.64%97,113$16Madded×3.1+0.59 pp5 q
unresolvedMicros Sys Inc1.59%231,029$16Madded×2.8+0.84 pp5 q
ORCLOracle Corp1.58%384,119$16Madded×2.4+0.48 pp5 q
unresolvedHewlett Packard Co1.53%448,100$15Mheld—5 q
SYYSysco Corporation1.47%387,100$14Mheld—5 q
unresolvedBoardwalk Pipeline Partners1.46%779,800$14Mheld—2 q
ADBEAdobe Inc.1.41%192,641$14Madded×2.7+0.62 pp5 q
unresolvedGeneral Electric Co1.41%531,167$14Mheld—5 q
INTCIntel Corp1.41%451,200$14Mtrimmed−11%−0.81 pp5 q
LLoews Corporation1.41%315,500$14Mheld—5 q
WUThe Western Union Company1.37%780,650$14Madded+25%−0.36 pp5 q
unresolvedE M C Corp Mass1.36%509,900$13Madded+27%−0.51 pp5 q
unresolvedGannett Inc1.35%425,700$13Mheld—5 q
RSGRepublic Services Inc.1.35%352,200$13Mheld—5 q
unresolvedChubb1.33%142,300$13Mheld—5 q
ETNEaton Corporation, plc1.31%167,050$13Mheld—5 q
TAT&T Inc.1.27%353,900$13Mheld—5 q
MRSHMarsh1.25%237,518$12Mheld—5 q
unresolvedDow Chemical Co1.23%235,600$12Mtrimmed−12%−0.98 pp5 q
unresolvedDu Pont E I De Nemours & Co1.19%179,700$12Mtrimmed−16%−1.23 pp5 q
CSCOCisco Systems, Inc. (DE)1.18%467,000$12Mheld—5 q
GDGeneral Dynamics Corporation1.18%99,600$12Mtrimmed−15%−0.98 pp5 q
JNJJohnson & Johnson1.18%111,724$12Mtrimmed−13%−0.95 pp5 q
AXPAmerican Express Company1.15%119,284$11Madded0%−0.67 pp5 q
BDXBecton, Dickinson and Co.1.11%92,500$11Mheld—5 q
SWKStanley Black & Decker, Inc.1.10%123,900$11Madded+23%−0.29 pp3 q
unresolvedWellpoint Inc1.10%100,500$11Mheld—5 q
CHKChesapeake Energy Corp1.09%346,700$11Mheld—5 q
IBMInternational Business Machines Corporation1.08%58,950$11Mheld—5 q
unresolvedDirectv1.03%120,200$10Mnew+1.03 ppnew
TUPTupperware Brands Corporation1.02%120,195$10Madded0%−0.68 pp5 q
TGTTarget Corporation1.01%171,500$10Mheld—2 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)0.99%119,600$10Mheld—5 q
LMTLockheed Martin Corp.0.10%5,875$944,000held—5 q
COPConocoPhillips0.09%9,900$849,000held—5 q
EPDEnterprise Products Partners L.P.0.08%10,000$783,000held—5 q
DUKDuke Energy Corporation0.07%8,800$653,000held—5 q
SLBSLB Limited0.07%5,922$698,000trimmed−5%−0.03 pp5 q
PAAPlains All American Pipeline, L.P. Common Units representing Limited Partner Interests0.06%10,000$601,000held—5 q
MRKMerck & Co., Inc.0.05%8,575$496,000held—5 q
ERIEErie Indemnity Co0.04%4,850$365,000held—2 q
unresolvedGlaxosmithkline PLC0.04%7,750$414,000new+0.04 ppnew
unresolvedKinder Morgan Energy Partners0.04%5,000$411,000held—5 q
KMIKinder Morgan, Inc.0.04%10,250$372,000held—3 q
unresolvedSeadrill0.04%9,500$380,000held—5 q
unresolvedXl Group PLC0.04%11,850$388,000trimmed−3%−0.02 pp5 q
AMGAffiliated Managers Group0.03%1,385$284,000new+0.03 ppnew
BPBP p.l.c.0.03%6,000$317,000held—3 q
unresolvedCanadian Energy Service0.03%8,745$272,000trimmed−18%−0.02 pp2 q
CHDChurch & Dwight Co., Inc.0.03%3,940$276,000added+24%−0.01 pp2 q
CMDXFComputer Modelling Grp0.03%10,125$281,000added+11%−0.01 pp2 q
unresolvedItc Hldgs Corp0.03%7,590$277,000added+6%−0.02 pp2 q
unresolvedO'Reilly Automotive0.03%1,830$276,000added+11%−0.01 pp2 q
PWRQuanta Services, Inc.0.03%7,590$262,000added+12%−0.01 pp2 q
unresolvedSBA Comms Corp0.03%2,760$282,000added+11%−0.01 pp2 q
unresolvedCatamaran Corp0.02%5,310$234,000new+0.02 ppnew
CVXChevron Corporation0.02%1,800$235,000held—5 q
CPRTCopart Inc0.02%6,620$238,000added+11%−0.02 pp2 q
unresolvedFEI Company0.02%2,665$242,000added+12%−0.02 pp2 q
FLSFlowserve Corporation0.02%3,080$229,000added+11%−0.02 pp2 q
JKHYHenry (Jack) & Associates0.02%4,035$240,000added+11%−0.01 pp2 q
HXLHexcel Corporation0.02%5,785$237,000added+21%−0.02 pp2 q
unresolvedMedivation Inc0.02%2,810$217,000new+0.02 ppnew
MIDDMiddleby Corp0.02%2,765$229,000added+16%−0.02 pp2 q
QLYSQualys, Inc.0.02%8,630$222,000new+0.02 ppnew
WKCWorld Kinect Corporation0.02%4,440$219,000new+0.02 ppnew
VRTXVertex Pharmaceuticals Inc—−76,397—exited−0.92 pp—
JPMJPMorgan Chase & Co.—−8,700—exited−0.09 pp—
EDConsolidated Edison, Inc.—−7,750—exited−0.07 pp—

Source

Form
13F-HR
Reading
3 defects · 24 unresolved
Accession
0000950123-14-008816
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet
  • A security outside the official 13F list — CUSIP 13566W108 not on the Official 13(f) List for 2014-06-30
  • A security outside the official 13F list — CUSIP 205249105 not on the Official 13(f) List for 2014-06-30
  • A security outside the official 13F list — CUSIP 686091109 not on the Official 13(f) List for 2014-06-30