Torray

Q1 2019 13F · by James Bailey, portfolio manager

As of: Mar 31, 2019
Filed: May 7, 2019
US stock: $948M · prev $843M
Positions: 104 · prev 102
Options notional: $0
Documents: 1· no amendments

Picture96.6% US stock

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

US stock listed on a US exchange 96.6%
Foreign stock not listed in the US 3.4%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves102 since the prior filing

+5.0 pp in · −4.8 pp out

New 5 +0.60 pp
Added 42 +4.40 pp
Trimmed 52 −2.96 pp
Exited 3 −1.87 pp

The book

Diversified · behaves like 57 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

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

Low
Moderate
High

Top 5 positions13% of US stock

DHR Danaher Corporation trimmed+0.28 pp trimmed+0.282.8%
AMT American Tower Corporation trimmed+0.20 pp trimmed+0.202.6%
VRSK Verisk Analytics, Inc. trimmed+0.14 pp trimmed+0.142.5%
unresolved Cooper Cos Inc/The trimmed−0.06 pp trimmed−0.062.5%
V VISA Inc. trimmed+0.06 pp trimmed+0.062.5%

Positions104 in this filing · 3 exited


DHRDanaher Corporation	2.83%	203,094	$27M	trimmed−3%	+0.28 pp	24 q
AMTAmerican Tower Corporation	2.61%	125,329	$25M	trimmed−2%	+0.20 pp	24 q
VRSKVerisk Analytics, Inc.	2.51%	178,937	$24M	trimmed−2%	+0.14 pp	19 q
unresolvedCooper Cos Inc/The	2.49%	79,669	$24M	trimmed−6%	−0.06 pp	19 q
VVISA Inc.	2.49%	150,860	$24M	trimmed−3%	+0.06 pp	24 q
MSFTMicrosoft Corp	2.43%	195,038	$23M	trimmed−2%	+0.03 pp	12 q
AAPLApple Inc.	2.41%	120,367	$23M	trimmed−4%	+0.06 pp	24 q
AXPAmerican Express Company	2.38%	206,379	$23M	trimmed−0%	+0.04 pp	24 q
FISVFiserv, Inc.	2.29%	246,102	$22M	trimmed−12%	−0.15 pp	24 q
ROPRoper Technologies, Inc.	2.26%	62,686	$21M	added+35%	+0.79 pp	2 q
SSNCSS&C Technologies Inc	2.23%	332,044	$21M	added+3%	+0.50 pp	2 q
CSCOCisco Systems, Inc. (DE)	2.22%	389,326	$21M	trimmed−26%	−0.49 pp	24 q
BACBank of America Corporation	2.19%	751,372	$21M	trimmed−0%	−0.01 pp	18 q
LZAGYLonza Group AG UNSP/	2.13%	651,045	$20M	trimmed−3%	+0.07 pp	7 q
ADBEAdobe Inc.	2.09%	74,362	$20M	trimmed−3%	+0.04 pp	24 q
BMRNBioMarin Pharmaceuticals Inc	2.06%	220,087	$20M	trimmed−2%	−0.21 pp	21 q
GOOGLAlphabet Inc. Class A	2.05%	16,474	$19M	trimmed−2%	−0.04 pp	15 q
BPBP p.l.c.	1.98%	429,366	$19M	trimmed−2%	+0.04 pp	16 q
SCHWThe Charles Schwab Corporation	1.94%	430,021	$18M	trimmed−2%	−0.22 pp	13 q
ORLYO'Reilly Automotive, Inc.	1.93%	47,002	$18M	trimmed−26%	−0.68 pp	10 q
LLoews Corporation	1.89%	374,544	$18M	trimmed−0%	−0.14 pp	24 q
IBMInternational Business Machines Corporation	1.82%	122,327	$17M	added+2%	+0.20 pp	24 q
AMZNAmazon.Com Inc	1.78%	9,496	$17M	trimmed−0%	+0.09 pp	6 q
ACNAccenture PLC	1.76%	94,683	$17M	trimmed−3%	+0.13 pp	24 q
APHAmphenol Corporation	1.74%	174,439	$16M	trimmed−2%	+0.02 pp	24 q
SHWThe Sherwin-Williams Company	1.72%	37,830	$16M	trimmed−2%	−0.09 pp	9 q
CHKPCheck Point Software Technologies Ltd	1.71%	128,306	$16M	added+15%	+0.35 pp	8 q
JNJJohnson & Johnson	1.66%	112,428	$16M	trimmed−1%	−0.07 pp	24 q
CNCCentene Corporation	1.62%	290,064	$15M	trimmed−1%	−0.37 pp	4 q
MRSHMarsh	1.61%	162,811	$15M	trimmed−0%	+0.06 pp	24 q
GMGeneral Motors Company	1.58%	404,928	$15M	trimmed−12%	−0.25 pp	11 q
RDS.ARoyal Dutch Shell PLC	1.53%	232,148	$15M	trimmed−0%	−0.08 pp	7 q
METAMeta Platforms, Inc. Class A	1.52%	86,242	$14M	trimmed−1%	+0.17 pp	14 q
BRK.BBERKSHIRE HATHAWAY Class B	1.50%	70,795	$14M	trimmed−1%	−0.24 pp	8 q
INTCIntel Corp	1.50%	265,517	$14M	trimmed−1%	+0.01 pp	24 q
ETNEaton Corporation, plc	1.46%	171,895	$14M	trimmed−0%	+0.05 pp	24 q
AIGAmerican International Group, Inc.	1.45%	319,661	$14M	trimmed−0%	−0.05 pp	8 q
NKENike, Inc.	1.44%	162,442	$14M	trimmed−2%	−0.02 pp	24 q
CBChubb Limited	1.42%	96,003	$13M	trimmed−0%	−0.06 pp	13 q
WFCWells Fargo & Co.	1.33%	261,141	$13M	trimmed−0%	−0.10 pp	24 q
GMABGenmab A/S	1.32%	715,259	$12M	added×12.7	+1.21 pp	10 q
ALBAlbemarle Corporation	1.30%	150,236	$12M	added+13%	+0.09 pp	11 q
TGNATEGNA Inc.	1.29%	869,295	$12M	added0%	+0.17 pp	16 q
GDGeneral Dynamics Corporation	1.18%	65,899	$11M	added+36%	+0.28 pp	24 q
HPQHP Inc.	1.17%	572,477	$11M	held	—	12 q
VIABViacom Inc. Class B	1.13%	382,580	$11M	added+83%	+0.49 pp	8 q
BDXBecton, Dickinson and Co.	1.10%	41,597	$10M	added0%	−0.01 pp	24 q
CERNCerner Corp	1.09%	181,214	$10M	trimmed−28%	−0.47 pp	11 q
EOGEOG Resources, Inc.	1.08%	107,922	$10M	trimmed−1%	−0.05 pp	24 q
unresolvedDowdupont Inc	1.02%	182,259	$10M	trimmed−0%	−0.14 pp	7 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.97%	37,000	$9M	trimmed−5%	−0.19 pp	24 q
WUThe Western Union Company	0.96%	490,861	$9M	trimmed−0%	−0.04 pp	24 q
SWKStanley Black & Decker, Inc.	0.95%	66,130	$9M	trimmed−0%	+0.01 pp	22 q
HPEHewlett Packard Enterprise Company	0.88%	541,500	$8M	held	—	14 q
unresolvedGeneral Electric Co	0.80%	762,101	$8M	trimmed−0%	+0.11 pp	24 q
MOAltria Group, Inc.	0.25%	40,625	$2M	added+20%	+0.05 pp	2 q
ABBVAbbvie Inc.	0.23%	26,953	$2M	added+11%	−0.04 pp	12 q
CMICummins Inc.	0.23%	13,675	$2M	added+6%	+0.03 pp	3 q
HXLHexcel Corporation	0.22%	30,257	$2M	added+15%	+0.04 pp	10 q
LVSLas Vegas Sands Corp.	0.22%	34,913	$2M	new	+0.22 pp	new
LYBLyondellBasell Industries N.V. Class A	0.22%	24,676	$2M	added+9%	0.00 pp	12 q
AMGNAmgen Inc	0.21%	10,406	$2M	added+5%	−0.02 pp	7 q
QCOMQualcomm Inc	0.21%	35,673	$2M	added+9%	−0.01 pp	12 q
AZPNAspen Technology Inc	0.20%	18,431	$2M	added+2%	+0.02 pp	10 q
EPDEnterprise Products Partners L.P.	0.19%	60,284	$2M	added+12%	+0.03 pp	2 q
IPGThe Interpublic Group of Companies, Inc.	0.19%	84,432	$2M	new	+0.19 pp	new
BXBlackstone Inc.	0.18%	50,112	$2M	added+14%	+0.02 pp	2 q
CPRTCopart Inc	0.18%	28,389	$2M	added+10%	+0.03 pp	10 q
LMTLockheed Martin Corp.	0.18%	5,715	$2M	trimmed−8%	−0.01 pp	12 q
MRKMerck & Co., Inc.	0.18%	20,747	$2M	trimmed−9%	−0.03 pp	12 q
PSXPhillips 66	0.18%	18,088	$2M	added+7%	+0.01 pp	12 q
QLYSQualys, Inc.	0.18%	20,597	$2M	added0%	0.00 pp	10 q
PRUPrudential Financial, Inc.	0.17%	18,014	$2M	added×3.7	+0.12 pp	11 q
BABoeing Company	0.15%	3,729	$1M	trimmed−17%	−0.02 pp	9 q
OMCLOmnicell Inc	0.13%	15,219	$1M	trimmed−4%	+0.02 pp	10 q
DNKNDunkin' Brands Group, Inc.	0.12%	15,568	$1M	added+2%	0.00 pp	10 q
JKHYHenry (Jack) & Associates	0.12%	7,898	$1M	added+3%	0.00 pp	10 q
ICFIICF International, Inc.	0.12%	14,354	$1M	added+3%	+0.01 pp	10 q
MTDMettler-Toledo International	0.12%	1,510	$1M	added+3%	+0.02 pp	10 q
POOLPool Corporation	0.12%	7,124	$1M	added+2%	0.00 pp	7 q
SBACSBA Communications Corp	0.12%	5,738	$1M	added+3%	+0.01 pp	9 q
WEDWebster Financial Corp	0.12%	22,521	$1M	added+3%	−0.01 pp	5 q
AKXAnsys Inc	0.11%	5,888	$1M	added+2%	+0.01 pp	10 q
CTLTCatalent, Inc.	0.10%	24,010	$975,000	new	+0.10 pp	new
HCSGHealthcare Services Group	0.10%	29,452	$972,000	added+36%	0.00 pp	5 q
MPWRMonolithic Power Systems, Inc.	0.10%	6,703	$908,000	added+3%	+0.01 pp	2 q
CHDChurch & Dwight Co., Inc.	0.09%	11,962	$852,000	trimmed−8%	−0.01 pp	10 q
HALOHalozyme Therapeutics, Inc.	0.09%	51,827	$834,000	held	—	10 q
IPGPIPG Photonics Corporation	0.09%	5,314	$807,000	added+3%	+0.02 pp	10 q
ESGREnstar Group Ltd	0.09%	4,814	$838,000	added+25%	+0.01 pp	9 q
AMNAMN Healthcare Services	0.08%	16,804	$791,000	added+2%	−0.03 pp	6 q
MKSIMKS Inc.	0.08%	7,673	$714,000	added+6%	+0.02 pp	4 q
PRAAPRA Group, Inc.	0.07%	24,994	$670,000	added+6%	0.00 pp	7 q
DYDycom Industries, Inc.	0.06%	12,901	$593,000	added+6%	−0.02 pp	8 q
CYBRCyberark Software LTD/ISRAEL	0.06%	4,970	$592,000	new	+0.06 pp	new
GOOGAlphabet Inc. Class C	0.05%	406	$476,000	trimmed−9%	0.00 pp	6 q
ENBEnbridge, Inc	0.05%	14,190	$515,000	trimmed−54%	−0.06 pp	24 q
IWFiShares Russell 1000 Growth ETF	0.04%	2,400	$363,000	trimmed−87%	−0.24 pp	2 q
ECLEcolab, Inc.	0.03%	1,599	$282,000	added+7%	0.00 pp	6 q
HONHoneywell International, Inc.	0.03%	1,761	$280,000	added+9%	0.00 pp	6 q
IDXXIdexx Laboratories Inc	0.03%	1,275	$285,000	held	—	5 q
99803EURLaboratory Crp Of Amer Hldgs	0.03%	2,020	$309,000	trimmed−11%	0.00 pp	11 q
SBUXStarbucks Corp	0.03%	4,000	$297,000	held	—	3 q
WABWabtec Inc.	0.03%	4,087	$301,000	new	+0.03 pp	new
LKQLKQ Corporation	—	−569,373	—	exited	−1.60 pp	—
MGPMGM Growth Properties LLC Class A representing limited liability company interests	—	−76,587	—	exited	−0.24 pp	—
JPMJPMorgan Chase & Co.	—	−2,923	—	exited	−0.03 pp	—

Source

Form: 13F-HR
Reading: 2 defects · 3 unresolved
Accession: 0000950123-19-003980
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 372303206 not on the Official 13(f) List for 2019-03-31
A security outside the official 13F list — CUSIP 54338V101 not on the Official 13(f) List for 2019-03-31

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