Torray

Q4 2022 13F · by James Bailey, portfolio manager

As of: Dec 31, 2022
Filed: Feb 7, 2023
US stock: $555M · prev $502M
Positions: 104 · prev 100
Options notional: $0
Documents: 1· no amendments

Picture98.6% US stock

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

US stock listed on a US exchange 98.6%
Foreign stock not listed in the US 1.4%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves97 since the prior filing

+9.5 pp in · −9.8 pp out

New 10 +5.59 pp
Added 31 +3.87 pp
Trimmed 50 −6.13 pp
Exited 6 −3.68 pp

The book

Diversified · behaves like 58 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 42% a year, about 2.4 years per position

Low
Moderate
High

Top 5 positions15% of US stock

BRK.B BERKSHIRE HATHAWAY Class B held held3.6%
GOOGL Alphabet Inc. Class A trimmed−1.45 pp trimmed−1.453.0%
FISV Fiserv, Inc. added+1.78 pp added+1.782.8%
MO Altria Group, Inc. added+0.08 pp added+0.082.8%
MRSH Marsh trimmed−0.29 pp trimmed−0.292.6%

Positions104 in this filing · 6 exited


BRK.BBERKSHIRE HATHAWAY Class B	3.57%	64,106	$20M	held	—	23 q
GOOGLAlphabet Inc. Class A	2.98%	187,737	$17M	trimmed−19%	−1.45 pp	30 q
FISVFiserv, Inc.	2.82%	155,083	$16M	added×2.8	+1.78 pp	39 q
MOAltria Group, Inc.	2.81%	341,090	$16M	added0%	+0.08 pp	17 q
MRSHMarsh	2.59%	86,932	$14M	trimmed−10%	−0.29 pp	39 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	2.55%	26,675	$14M	held	—	39 q
JPMJPMorgan Chase & Co.	2.54%	105,261	$14M	trimmed−0%	+0.35 pp	15 q
GDGeneral Dynamics Corporation	2.50%	56,052	$14M	trimmed−19%	−0.42 pp	39 q
JNJJohnson & Johnson	2.44%	76,740	$14M	held	—	39 q
HDHome Depot, Inc.	2.37%	41,697	$13M	added×4.2	+1.82 pp	12 q
PSXPhillips 66	2.33%	124,074	$13M	trimmed−3%	+0.28 pp	27 q
ETNEaton Corporation, plc	2.30%	81,521	$13M	trimmed−11%	−0.12 pp	39 q
HONHoneywell International, Inc.	2.24%	58,132	$12M	held	—	11 q
CBChubb Limited	2.12%	53,351	$12M	held	—	28 q
BMYBristol-Myers Squibb Co.	2.09%	161,134	$12M	held	—	12 q
TROWT Rowe Price Group Inc	2.04%	104,058	$11M	trimmed−36%	−1.37 pp	5 q
BACBank of America Corporation	2.01%	337,691	$11M	added0%	−0.02 pp	33 q
KHCThe Kraft Heinz Company	1.97%	269,215	$11M	held	—	13 q
TXNTexas Instruments Incorporated	1.97%	66,253	$11M	held	—	4 q
AXPAmerican Express Company	1.96%	73,712	$11M	added0%	−0.02 pp	39 q
SLBSLB Limited	1.92%	198,961	$11M	trimmed−25%	+0.01 pp	8 q
DISThe Walt Disney Company	1.87%	119,671	$10M	added+17%	−0.05 pp	11 q
QCOMQualcomm Inc	1.81%	91,358	$10M	added0%	−0.24 pp	27 q
EOGEOG Resources, Inc.	1.76%	75,663	$10M	trimmed−13%	−0.17 pp	6 q
MSFTMicrosoft Corp	1.75%	40,574	$10M	trimmed−2%	−0.16 pp	27 q
AAPLApple Inc.	1.68%	71,722	$9M	trimmed−2%	−0.34 pp	39 q
GMGeneral Motors Company	1.59%	262,180	$9M	trimmed−35%	−0.98 pp	5 q
AAPAdvance Auto Parts Inc	1.52%	57,424	$8M	new	+1.52 pp	new
LEN.BLennar Corporation Class B	1.48%	109,629	$8M	new	+1.48 pp	new
DDDuPont de Nemours, Inc.	1.42%	114,605	$8M	trimmed−30%	−0.21 pp	15 q
AMATApplied Materials Inc	1.33%	76,014	$7M	new	+1.33 pp	new
VVISA Inc.	1.29%	34,379	$7M	trimmed−2%	+0.05 pp	39 q
AMZNAmazon.Com Inc	1.28%	84,928	$7M	added+3%	−0.58 pp	21 q
ORLYO'Reilly Automotive, Inc.	1.20%	7,871	$7M	trimmed−17%	−0.12 pp	25 q
SCHWThe Charles Schwab Corporation	1.08%	72,221	$6M	trimmed−1%	+0.03 pp	8 q
GMABGenmab A/S	0.98%	128,564	$5M	trimmed−2%	+0.14 pp	25 q
RPRXRoyalty Pharma plc Class A	0.98%	137,371	$5M	trimmed−1%	−0.13 pp	5 q
AMTAmerican Tower Corporation	0.97%	25,464	$5M	trimmed−4%	−0.16 pp	39 q
CPRTCopart Inc	0.97%	88,319	$5M	trimmed−3%	+0.01 pp	25 q
KLACKLA Corporation	0.97%	14,243	$5M	trimmed−34%	−0.32 pp	8 q
DHRDanaher Corporation	0.96%	20,011	$5M	trimmed−2%	−0.09 pp	39 q
APHAmphenol Corporation	0.93%	67,950	$5M	trimmed−2%	0.00 pp	39 q
unresolvedCooper Cos Inc/The	0.92%	15,425	$5M	added+2%	+0.12 pp	34 q
ADBEAdobe Inc.	0.87%	14,322	$5M	added+2%	+0.10 pp	39 q
VRSKVerisk Analytics, Inc.	0.86%	27,069	$5M	trimmed−2%	−0.08 pp	34 q
NOWServicenow, Inc.	0.83%	11,899	$5M	added+36%	+0.17 pp	3 q
CNSWFConstellation Sftwre Inc	0.80%	2,840	$4M	trimmed−0%	+0.01 pp	8 q
IDXXIdexx Laboratories Inc	0.76%	10,314	$4M	trimmed−1%	+0.08 pp	20 q
SHWThe Sherwin-Williams Company	0.74%	17,360	$4M	trimmed−2%	+0.01 pp	24 q
ACNAccenture PLC	0.71%	14,761	$4M	added+3%	−0.02 pp	39 q
NKENike, Inc.	0.63%	29,911	$3M	trimmed−18%	+0.02 pp	39 q
POOLPool Corporation	0.62%	11,446	$3M	added×3.0	+0.38 pp	22 q
TYLTyler Technologies, Inc.	0.59%	10,212	$3M	trimmed−6%	−0.16 pp	8 q
LZAGYLonza Group AG UNSP/	0.58%	66,136	$3M	added+4%	−0.04 pp	22 q
ABBVAbbvie Inc.	0.54%	18,488	$3M	added+1%	+0.05 pp	27 q
AVGOBroadcom Inc.	0.51%	5,103	$3M	added×2.2	+0.30 pp	2 q
LMTLockheed Martin Corp.	0.51%	5,766	$3M	trimmed−1%	+0.06 pp	27 q
GILDGilead Sciences Inc	0.49%	31,920	$3M	trimmed−29%	−0.07 pp	12 q
ENBEnbridge, Inc	0.48%	67,861	$3M	trimmed−1%	−0.03 pp	39 q
PRUPrudential Financial, Inc.	0.48%	26,607	$3M	added+2%	+0.03 pp	26 q
LYBLyondellBasell Industries N.V. Class A	0.47%	31,434	$3M	added+2%	+0.01 pp	27 q
AMGNAmgen Inc	0.46%	9,728	$3M	trimmed−8%	−0.02 pp	22 q
DLRDigital Realty Trust, Inc.	0.42%	23,392	$2M	added+17%	+0.03 pp	2 q
HIIHuntington Ingalls Industries, Inc.	0.42%	10,015	$2M	trimmed−3%	−0.03 pp	5 q
MCDMcDonald's Corporation	0.42%	8,813	$2M	added+1%	+0.02 pp	12 q
UNPUnion Pacific Corp.	0.40%	10,602	$2M	new	+0.40 pp	new
MTNVail Resorts, Inc.	0.40%	9,304	$2M	new	+0.40 pp	new
BXBlackstone Inc.	0.37%	27,712	$2M	added+4%	−0.07 pp	17 q
CCICrown Castle Inc.	0.37%	14,962	$2M	added+6%	−0.04 pp	11 q
PAYXPaychex Inc	0.37%	17,598	$2M	added+1%	−0.02 pp	8 q
CSCOCisco Systems, Inc. (DE)	0.35%	40,965	$2M	added+3%	+0.03 pp	39 q
HALOHalozyme Therapeutics, Inc.	0.32%	31,495	$2M	trimmed−4%	+0.06 pp	25 q
RYANRyan Specialty Holdings, Inc.	0.29%	38,531	$2M	trimmed−4%	−0.03 pp	5 q
RBCRBC Bearings Incorporated	0.27%	7,133	$1M	trimmed−4%	−0.04 pp	9 q
SBACSBA Communications Corp	0.27%	5,334	$1M	added+6%	−0.02 pp	24 q
TWTradeweb Markets Inc. Class A	0.26%	22,653	$1M	added+29%	+0.06 pp	2 q
JKHYHenry (Jack) & Associates	0.25%	7,783	$1M	trimmed−4%	−0.04 pp	25 q
MTDMettler-Toledo International	0.25%	946	$1M	trimmed−4%	+0.04 pp	25 q
AKXAnsys Inc	0.24%	5,445	$1M	added+22%	+0.04 pp	25 q
BNDVanguard Total Bond Market	0.23%	17,640	$1M	held	—	5 q
AZPNAspen Technology Inc	0.22%	6,061	$1M	trimmed−3%	−0.08 pp	3 q
ICFIICF International, Inc.	0.22%	12,317	$1M	trimmed−4%	−0.06 pp	25 q
VRRMVerra Mobility Corporation Class A	0.22%	86,940	$1M	trimmed−3%	−0.06 pp	14 q
BMRNBioMarin Pharmaceuticals Inc	0.20%	10,834	$1M	trimmed−4%	+0.01 pp	36 q
DTDynatrace, Inc.	0.20%	29,620	$1M	added+11%	+0.01 pp	7 q
MPWRMonolithic Power Systems, Inc.	0.20%	3,209	$1M	trimmed−3%	−0.04 pp	17 q
RCKTRocket Pharmaceuticals, Inc.	0.19%	54,324	$1M	trimmed−5%	+0.01 pp	13 q
BPMCBlueprint Medicines Corporation	0.18%	23,436	$1M	added+34%	−0.05 pp	8 q
ZBRAZebra Technologies Corporation	0.18%	3,958	$1M	trimmed−9%	−0.05 pp	12 q
QLYSQualys, Inc.	0.17%	8,297	$931,172	trimmed−4%	−0.07 pp	25 q
LNTHLantheus Holdings, Inc	0.16%	17,358	$884,564	new	+0.16 pp	new
CHDChurch & Dwight Co., Inc.	0.15%	10,073	$811,985	trimmed−4%	0.00 pp	25 q
ENTGEntegris Inc	0.15%	13,072	$857,392	new	+0.15 pp	new
NTRANatera, Inc.	0.14%	19,643	$789,059	added+17%	−0.01 pp	2 q
GOOGAlphabet Inc. Class C	0.10%	6,280	$557,224	held	—	21 q
IWFiShares Russell 1000 Growth ETF	0.10%	2,701	$578,662	added+34%	+0.02 pp	17 q
SPNNSapiens International Corp	0.09%	26,152	$483,289	trimmed−39%	−0.08 pp	9 q
SBUXStarbucks Corp	0.08%	4,710	$467,232	held	—	18 q
VICRVicor Corp	0.08%	8,054	$432,903	trimmed−16%	−0.03 pp	5 q
MUBiShares National Muni Bond ETF	0.07%	3,750	$395,700	held	—	5 q
VOTVanguard Morningstar Mid-Cap Growth ETF	0.07%	2,262	$406,617	new	+0.07 pp	new
COSTCostco Wholesale Corp	0.06%	670	$305,855	held	—	2 q
ABTAbbott Laboratories	0.04%	2,030	$222,874	new	+0.04 pp	new
URIUnited Rentals, Inc.	0.04%	660	$234,577	new	+0.04 pp	new
GPCGenuine Parts Company	—	−87,589	—	exited	−2.61 pp	—
MYOVMyovant Sciences Ltd	—	−79,171	—	exited	−0.28 pp	—
Broadcom Incconvertible	—	−928	—	exited	−0.26 pp	—
CTLTCatalent, Inc.	—	−17,317	—	exited	−0.25 pp	—
OMCLOmnicell Inc	—	−8,695	—	exited	−0.15 pp	—
MKSIMKS Inc.	—	−8,194	—	exited	−0.13 pp	—

Source

Form: 13F-HR
Reading: 2 defects · 1 unresolved
Accession: 0000950123-23-001003
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 21037X100 not on the Official 13(f) List for 2022-12-31
A security outside the official 13F list — CUSIP 54338V101 not on the Official 13(f) List for 2022-12-31

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