Torray

Q1 2017 13F · by James Bailey, portfolio manager

As of: Mar 31, 2017
Filed: May 12, 2017
US stock: $955M · prev $939M
Positions: 106 · prev 110
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%

Moves114 since the prior filing

+6.0 pp in · −6.3 pp out

New 9 +2.67 pp
Added 41 +3.36 pp
Trimmed 51 −2.60 pp
Exited 13 −3.68 pp

The book

Diversified · behaves like 56 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 17% a year, about 6.0 years per position

Low
Moderate
High

Top 5 positions14% of US stock

Positions106 in this filing · 13 exited


GOOGLAlphabet Inc. Class A	3.00%	33,811	$29M	trimmed−1%	+0.11 pp	7 q
AAPLApple Inc.	2.93%	194,529	$28M	trimmed−4%	+0.42 pp	16 q
METAMeta Platforms, Inc. Class A	2.67%	179,476	$25M	trimmed−2%	+0.42 pp	6 q
SCHWThe Charles Schwab Corporation	2.53%	591,353	$24M	trimmed−2%	0.00 pp	5 q
ACNAccenture PLC	2.46%	195,715	$23M	added+18%	+0.39 pp	16 q
VVISA Inc.	2.45%	263,457	$23M	trimmed−3%	+0.19 pp	16 q
FISVFiserv, Inc.	2.38%	196,835	$23M	trimmed−6%	+0.02 pp	16 q
AMTAmerican Tower Corporation	2.34%	183,935	$22M	added+1%	+0.28 pp	16 q
CERNCerner Corp	2.33%	377,572	$22M	added+14%	+0.66 pp	3 q
DHRDanaher Corporation	2.29%	255,350	$22M	added+1%	+0.19 pp	16 q
BMRNBioMarin Pharmaceuticals Inc	2.27%	246,485	$22M	trimmed−2%	+0.06 pp	13 q
unresolvedCooper Cos Inc/The	2.19%	104,472	$21M	trimmed−1%	+0.22 pp	11 q
LKQLKQ Corporation	2.11%	688,239	$20M	trimmed−3%	−0.20 pp	9 q
ADBEAdobe Inc.	2.09%	153,515	$20M	trimmed−4%	+0.34 pp	16 q
CLColgate-Palmolive Company	2.09%	272,163	$20M	trimmed−3%	+0.14 pp	16 q
BACBank of America Corporation	2.06%	835,108	$20M	added0%	+0.10 pp	10 q
UTXZRTX Corporation	2.00%	170,226	$19M	trimmed−1%	0.00 pp	16 q
ALBAlbemarle Corporation	1.97%	177,627	$19M	added0%	+0.35 pp	3 q
BLQADBlackrock Inc	1.94%	48,399	$19M	trimmed−1%	−0.04 pp	11 q
ENBEnbridge, Inc	1.86%	425,524	$18M	added+6%	+0.06 pp	16 q
APHAmphenol Corporation	1.83%	245,602	$17M	trimmed−5%	−0.02 pp	16 q
EOGEOG Resources, Inc.	1.79%	175,221	$17M	added0%	−0.09 pp	16 q
VRSKVerisk Analytics, Inc.	1.79%	210,662	$17M	added+1%	−0.02 pp	11 q
AXPAmerican Express Company	1.73%	208,442	$16M	added0%	+0.09 pp	16 q
unresolvedBoardwalk Pipeline Partners	1.72%	898,649	$16M	added0%	+0.06 pp	13 q
CSCOCisco Systems, Inc. (DE)	1.71%	482,114	$16M	added0%	+0.16 pp	16 q
unresolvedGeneral Electric Co	1.71%	548,802	$16M	added0%	−0.14 pp	16 q
INCYIncyte Genomics Inc	1.67%	119,311	$16M	trimmed−34%	−0.26 pp	5 q
IBMInternational Business Machines Corporation	1.67%	91,382	$16M	added0%	+0.06 pp	16 q
LLoews Corporation	1.59%	325,101	$15M	added0%	−0.03 pp	16 q
BPBP p.l.c.	1.57%	434,051	$15M	added+16%	+0.11 pp	8 q
WFCWells Fargo & Co.	1.55%	265,608	$15M	added0%	0.00 pp	16 q
NKENike, Inc.	1.53%	262,994	$15M	added+1%	+0.11 pp	16 q
SHWThe Sherwin-Williams Company	1.51%	46,448	$14M	new	+1.51 pp	new
JNJJohnson & Johnson	1.49%	114,132	$14M	added+1%	+0.10 pp	16 q
MRSHMarsh	1.48%	191,615	$14M	trimmed0%	+0.10 pp	16 q
SWKStanley Black & Decker, Inc.	1.43%	102,836	$14M	added0%	+0.17 pp	14 q
CBChubb Limited	1.39%	97,196	$13M	trimmed−0%	+0.02 pp	5 q
AKAMAkamai Technologies Inc	1.38%	220,666	$13M	trimmed−2%	−0.23 pp	14 q
ETNEaton Corporation, plc	1.35%	173,935	$13M	added0%	+0.11 pp	16 q
HPEHewlett Packard Enterprise Company	1.34%	541,100	$13M	trimmed−3%	−0.03 pp	6 q
TGNATEGNA Inc.	1.30%	482,700	$12M	added+40%	+0.51 pp	8 q
TAT&T Inc.	1.27%	292,384	$12M	trimmed−36%	−0.81 pp	16 q
TUPTupperware Brands Corporation	1.26%	192,130	$12M	held	—	16 q
unresolvedDow Chemical Co	1.23%	184,425	$12M	added0%	+0.11 pp	16 q
HN9Hanesbrands Inc	1.21%	558,012	$12M	trimmed−18%	−0.35 pp	4 q
GILDGilead Sciences Inc	1.19%	167,050	$11M	added+1%	−0.08 pp	16 q
HPQHP Inc.	1.07%	572,000	$10M	held	—	4 q
WUThe Western Union Company	1.06%	498,476	$10M	added0%	−0.09 pp	16 q
INTCIntel Corp	1.01%	268,664	$10M	trimmed−30%	−0.46 pp	16 q
BDXBecton, Dickinson and Co.	0.99%	51,741	$9M	added0%	+0.08 pp	16 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.97%	56,684	$9M	added0%	+0.01 pp	16 q
unresolvedChicago Bridge & Iron Co N V	0.96%	297,900	$9M	held	—	9 q
GDGeneral Dynamics Corporation	0.96%	49,066	$9M	trimmed−43%	−0.61 pp	16 q
GCIGannett Co Inc	0.92%	1,045,000	$9M	held	—	8 q
KBRKBR, Inc.	0.79%	502,000	$8M	new	+0.79 pp	new
ELVElevance Health, Inc.	0.72%	41,300	$7M	held	—	10 q
VMWVMware, Inc	0.71%	74,060	$7M	trimmed−37%	−0.28 pp	6 q
LMTLockheed Martin Corp.	0.17%	6,060	$2M	added+1%	+0.01 pp	4 q
PMPhilip Morris International Inc.	0.14%	11,608	$1M	trimmed−9%	+0.02 pp	4 q
ERIEErie Indemnity Co	0.12%	9,665	$1M	added+5%	+0.01 pp	4 q
MRKMerck & Co., Inc.	0.12%	18,384	$1M	trimmed−15%	−0.02 pp	4 q
MSFTMicrosoft Corp	0.12%	17,658	$1M	added+30%	+0.03 pp	4 q
LYBLyondellBasell Industries N.V. Class A	0.10%	10,030	$915,000	added0%	+0.01 pp	4 q
ABBVAbbvie Inc.	0.08%	11,425	$744,000	added+17%	+0.01 pp	4 q
BABoeing Company	0.08%	4,180	$739,000	new	+0.08 pp	new
CHDChurch & Dwight Co., Inc.	0.08%	14,955	$746,000	trimmed−45%	−0.05 pp	2 q
CPRTCopart Inc	0.08%	11,996	$743,000	trimmed−51%	−0.07 pp	2 q
GMGeneral Motors Company	0.08%	20,810	$736,000	added+6%	+0.01 pp	3 q
HXLHexcel Corporation	0.08%	14,372	$784,000	trimmed−53%	−0.09 pp	2 q
OMCLOmnicell Inc	0.08%	18,622	$757,000	trimmed−53%	−0.06 pp	2 q
PRUPrudential Financial, Inc.	0.08%	7,435	$793,000	added+2%	0.00 pp	3 q
QCOMQualcomm Inc	0.08%	12,650	$725,000	added+13%	0.00 pp	4 q
SBACSBA Communications Corp	0.08%	6,070	$731,000	new	+0.08 pp	new
AMGAffiliated Managers Group	0.07%	4,243	$696,000	trimmed−50%	−0.06 pp	2 q
JKHYHenry (Jack) & Associates	0.07%	7,311	$681,000	trimmed−59%	−0.10 pp	2 q
MGPMGM Growth Properties LLC Class A representing limited liability company interests	0.07%	25,375	$686,000	added+15%	+0.01 pp	3 q
MTDMettler-Toledo International	0.07%	1,445	$692,000	trimmed−57%	−0.08 pp	2 q
QLYSQualys, Inc.	0.07%	16,513	$626,000	trimmed−49%	−0.04 pp	2 q
AKXAnsys Inc	0.06%	5,339	$571,000	trimmed−51%	−0.05 pp	2 q
HDSHD Supply Holdings, Inc.	0.06%	13,223	$544,000	trimmed−55%	−0.07 pp	2 q
IPGPIPG Photonics Corporation	0.06%	4,853	$586,000	trimmed−54%	−0.05 pp	2 q
MANHManhattan Associates Inc	0.06%	11,426	$595,000	trimmed−49%	−0.07 pp	2 q
MIDDMiddleby Corp	0.06%	4,382	$598,000	trimmed−53%	−0.07 pp	2 q
ORLYO'Reilly Automotive, Inc.	0.06%	1,966	$531,000	trimmed−53%	−0.06 pp	2 q
PSXPhillips 66	0.06%	7,370	$584,000	added+8%	0.00 pp	4 q
unresolvedOneBeacon Insurance	0.06%	36,250	$580,000	new	+0.06 pp	new
unresolvedAdvisory Brd Co	0.05%	9,925	$464,000	trimmed−59%	−0.04 pp	2 q
DNKNDunkin' Brands Group, Inc.	0.05%	8,991	$492,000	trimmed−50%	−0.05 pp	2 q
GMABGenmab A/S	0.05%	4,731	$458,000	trimmed−53%	−0.04 pp	2 q
RICEEqt Re Merger Sub Inc	0.05%	20,192	$479,000	trimmed−47%	−0.04 pp	2 q
TSCOTractor Supply Co	0.05%	6,412	$442,000	trimmed−45%	−0.04 pp	2 q
CLBCore Laboratories Inc.	0.05%	3,866	$447,000	trimmed−50%	−0.05 pp	2 q
AZPNAspen Technology Inc	0.04%	6,352	$374,000	trimmed−52%	−0.04 pp	2 q
CMDXFComputer Modelling Grp	0.04%	52,141	$405,000	trimmed−52%	−0.04 pp	2 q
CRTOCriteo S.A.	0.04%	8,279	$414,000	new	+0.04 pp	new
HALOHalozyme Therapeutics, Inc.	0.04%	30,786	$399,000	trimmed−49%	−0.02 pp	2 q
99803EURLaboratory Crp Of Amer Hldgs	0.04%	2,835	$407,000	added+7%	0.00 pp	3 q
NVRNVR, Inc.	0.04%	197	$415,000	new	+0.04 pp	new
SLBSLB Limited	0.04%	4,860	$380,000	trimmed−3%	0.00 pp	4 q
ESGREnstar Group Ltd	0.04%	1,829	$350,000	new	+0.04 pp	new
EGEverest Group, Ltd.	0.04%	1,816	$425,000	added+27%	+0.01 pp	2 q
NLSNNielsen Holdings PLC	0.04%	9,506	$393,000	added+1%	0.00 pp	4 q
ICFIICF International, Inc.	0.03%	7,778	$321,000	trimmed−52%	−0.07 pp	2 q
KRThe Kroger Co.	0.03%	9,856	$291,000	new	+0.03 pp	new
PAGPPlains GP Holdings, L.P. Class A Units representing Limited Partner Interests	0.03%	9,615	$300,000	added+4%	0.00 pp	2 q
PXGBXPraxair Inc	—	−126,589	—	exited	−1.58 pp	—
AYIAcuity Inc.	—	−56,245	—	exited	−1.38 pp	—
unresolvedSBA Comms Corp	—	−12,944	—	exited	−0.14 pp	—
DUKDuke Energy Corporation	—	−13,116	—	exited	−0.11 pp	—
PIIPolaris Inc.	—	−9,758	—	exited	−0.09 pp	—
SNCRSynchronoss Technologies Inc	—	−21,091	—	exited	−0.09 pp	—
unresolvedSpectra Energy Corp.	—	−16,514	—	exited	−0.07 pp	—
CMICummins Inc.	—	−4,175	—	exited	−0.06 pp	—
SOThe Southern Company	—	−7,500	—	exited	−0.04 pp	—
DISThe Walt Disney Company	—	−2,374	—	exited	−0.03 pp	—
EPDEnterprise Products Partners L.P.	—	−12,000	—	exited	−0.03 pp	—
unresolvedGlaxosmithkline PLC	—	−6,500	—	exited	−0.03 pp	—
RSGRepublic Services Inc.	—	−4,851	—	exited	−0.03 pp	—

Source

Form: 13F-HR
Reading: 2 defects · 7 unresolved
Accession: 0000950123-17-004798
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 205249105 not on the Official 13(f) List for 2017-03-31
A security outside the official 13F list — CUSIP 372303206 not on the Official 13(f) List for 2017-03-31

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