Torray

Q1 2023 13F · by James Bailey, portfolio manager

As of: Mar 31, 2023
Filed: May 2, 2023
US stock: $557M · prev $555M
Positions: 100 · prev 104
Options notional: $0
Documents: 1· no amendments

Picture98.3% US stock

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

US stock listed on a US exchange 98.3%
Foreign stock not listed in the US 1.7%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves92 since the prior filing

+3.7 pp in · −3.3 pp out

New 2 +1.35 pp
Added 52 +2.35 pp
Trimmed 32 +0.73 pp
Exited 6 −4.04 pp

The book

Diversified · behaves like 57 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 11% a year, about 8.9 years per position

Low
Moderate
High

Top 5 positions15% of US stock

Positions100 in this filing · 6 exited


BRK.BBERKSHIRE HATHAWAY Class B	3.55%	64,106	$20M	held	—	24 q
GOOGLAlphabet Inc. Class A	3.49%	187,580	$19M	trimmed−0%	+0.51 pp	31 q
FISVFiserv, Inc.	3.14%	154,868	$18M	trimmed−0%	+0.32 pp	40 q
MRSHMarsh	2.60%	87,022	$14M	added0%	+0.01 pp	40 q
MOAltria Group, Inc.	2.48%	310,031	$14M	trimmed−9%	−0.33 pp	18 q
JPMJPMorgan Chase & Co.	2.45%	104,691	$14M	trimmed−1%	−0.09 pp	16 q
GDGeneral Dynamics Corporation	2.29%	56,052	$13M	held	—	40 q
PSXPhillips 66	2.26%	124,092	$13M	added0%	−0.07 pp	28 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	2.26%	26,677	$13M	added0%	−0.29 pp	40 q
MSFTMicrosoft Corp	2.23%	43,168	$12M	added+6%	+0.48 pp	28 q
HDHome Depot, Inc.	2.22%	41,904	$12M	added+1%	−0.15 pp	13 q
TXNTexas Instruments Incorporated	2.21%	66,344	$12M	added0%	+0.24 pp	5 q
AXPAmerican Express Company	2.18%	73,801	$12M	added0%	+0.22 pp	40 q
DISThe Walt Disney Company	2.15%	119,815	$12M	added0%	+0.28 pp	12 q
ETNEaton Corporation, plc	2.15%	69,976	$12M	trimmed−14%	−0.15 pp	40 q
JNJJohnson & Johnson	2.13%	76,740	$12M	held	—	40 q
TROWT Rowe Price Group Inc	2.11%	104,117	$12M	added0%	+0.07 pp	6 q
QCOMQualcomm Inc	2.11%	92,056	$12M	added+1%	+0.30 pp	28 q
AAPLApple Inc.	2.10%	71,111	$12M	trimmed−1%	+0.42 pp	40 q
BMYBristol-Myers Squibb Co.	2.00%	161,134	$11M	held	—	13 q
HONHoneywell International, Inc.	2.00%	58,193	$11M	added0%	−0.24 pp	12 q
EOGEOG Resources, Inc.	1.99%	96,556	$11M	added+28%	+0.23 pp	7 q
KHCThe Kraft Heinz Company	1.87%	269,215	$10M	held	—	14 q
CBChubb Limited	1.86%	53,357	$10M	added0%	−0.26 pp	29 q
LEN.BLennar Corporation Class B	1.76%	109,629	$10M	held	—	2 q
SLBSLB Limited	1.75%	198,961	$10M	held	—	9 q
BACBank of America Corporation	1.73%	337,691	$10M	held	—	34 q
GMGeneral Motors Company	1.73%	262,180	$10M	held	—	6 q
AMATApplied Materials Inc	1.67%	76,014	$9M	held	—	2 q
AAPAdvance Auto Parts Inc	1.63%	74,695	$9M	added+30%	+0.11 pp	2 q
AMZNAmazon.Com Inc	1.57%	84,680	$9M	trimmed−0%	+0.29 pp	22 q
CPRTCopart Inc	1.17%	87,013	$7M	trimmed−1%	+0.20 pp	26 q
ORLYO'Reilly Automotive, Inc.	1.17%	7,691	$7M	trimmed−2%	−0.03 pp	26 q
VVISA Inc.	1.10%	27,101	$6M	trimmed−21%	−0.19 pp	40 q
unresolvedCooper Cos Inc/The	1.03%	15,345	$6M	trimmed−1%	+0.11 pp	35 q
NOWServicenow, Inc.	1.01%	12,146	$6M	added+2%	+0.18 pp	4 q
ADBEAdobe Inc.	0.99%	14,320	$6M	trimmed−0%	+0.12 pp	40 q
APHAmphenol Corporation	0.97%	66,005	$5M	trimmed−3%	+0.04 pp	40 q
CNSWFConstellation Sftwre Inc	0.95%	2,815	$5M	trimmed−1%	+0.15 pp	9 q
AMTAmerican Tower Corporation	0.93%	25,287	$5M	trimmed−1%	−0.04 pp	40 q
IDXXIdexx Laboratories Inc	0.91%	10,131	$5M	trimmed−2%	+0.15 pp	21 q
VRSKVerisk Analytics, Inc.	0.91%	26,537	$5M	trimmed−2%	+0.05 pp	35 q
DHRDanaher Corporation	0.89%	19,669	$5M	trimmed−2%	−0.07 pp	40 q
RPRXRoyalty Pharma plc Class A	0.89%	137,172	$5M	trimmed−0%	−0.09 pp	6 q
KLACKLA Corporation	0.80%	11,115	$4M	trimmed−22%	−0.17 pp	9 q
GMABGenmab A/S	0.75%	110,807	$4M	trimmed−14%	−0.23 pp	26 q
ACNAccenture PLC	0.75%	14,682	$4M	trimmed−1%	+0.04 pp	40 q
AJGArthur J. Gallagher & Co.	0.71%	20,719	$4M	new	+0.71 pp	new
LZAGYLonza Group AG UNSP/	0.71%	66,305	$4M	added0%	+0.13 pp	23 q
POOLPool Corporation	0.71%	11,578	$4M	added+1%	+0.09 pp	23 q
SHWThe Sherwin-Williams Company	0.70%	17,401	$4M	added0%	−0.04 pp	25 q
TYLTyler Technologies, Inc.	0.65%	10,243	$4M	added0%	+0.06 pp	9 q
VEEVVeeva Systems Inc.	0.64%	19,304	$4M	new	+0.64 pp	new
AVGOBroadcom Inc.	0.57%	4,944	$3M	trimmed−3%	+0.06 pp	3 q
ABBVAbbvie Inc.	0.54%	18,717	$3M	added+1%	0.00 pp	28 q
LYBLyondellBasell Industries N.V. Class A	0.53%	31,738	$3M	added+1%	+0.06 pp	28 q
GILDGilead Sciences Inc	0.48%	32,328	$3M	added+1%	−0.01 pp	13 q
LMTLockheed Martin Corp.	0.47%	5,566	$3M	trimmed−3%	−0.04 pp	28 q
ENBEnbridge, Inc	0.46%	67,884	$3M	added0%	−0.02 pp	40 q
AMGNAmgen Inc	0.45%	10,489	$3M	added+8%	−0.01 pp	23 q
BXBlackstone Inc.	0.45%	28,664	$3M	added+3%	+0.08 pp	18 q
CCICrown Castle Inc.	0.45%	18,546	$2M	added+24%	+0.08 pp	12 q
DLRDigital Realty Trust, Inc.	0.42%	23,999	$2M	added+3%	0.00 pp	3 q
MTNVail Resorts, Inc.	0.41%	9,698	$2M	added+4%	+0.01 pp	2 q
CSCOCisco Systems, Inc. (DE)	0.39%	41,605	$2M	added+2%	+0.04 pp	40 q
PRUPrudential Financial, Inc.	0.39%	26,228	$2M	trimmed−1%	−0.09 pp	27 q
UNPUnion Pacific Corp.	0.39%	10,770	$2M	added+2%	−0.01 pp	2 q
PAYXPaychex Inc	0.37%	18,187	$2M	added+3%	0.00 pp	9 q
LNTHLantheus Holdings, Inc	0.34%	23,118	$2M	added+33%	+0.18 pp	2 q
AKXAnsys Inc	0.33%	5,462	$2M	added0%	+0.09 pp	26 q
TWTradeweb Markets Inc. Class A	0.32%	22,710	$2M	added0%	+0.06 pp	3 q
RBCRBC Bearings Incorporated	0.30%	7,137	$2M	added0%	+0.03 pp	10 q
MPWRMonolithic Power Systems, Inc.	0.29%	3,216	$2M	added0%	+0.09 pp	18 q
RYANRyan Specialty Holdings, Inc.	0.28%	38,719	$2M	added0%	−0.01 pp	6 q
VRRMVerra Mobility Corporation Class A	0.27%	87,752	$1M	added+1%	+0.05 pp	15 q
DTDynatrace, Inc.	0.26%	33,642	$1M	added+14%	+0.06 pp	8 q
MTDMettler-Toledo International	0.26%	947	$1M	added0%	+0.01 pp	26 q
AZPNAspen Technology Inc	0.25%	6,114	$1M	added+1%	+0.03 pp	4 q
SBACSBA Communications Corp	0.25%	5,383	$1M	added+1%	−0.02 pp	25 q
ICFIICF International, Inc.	0.24%	12,406	$1M	added+1%	+0.02 pp	26 q
BNDVanguard Total Bond Market	0.22%	16,740	$1M	trimmed−5%	−0.01 pp	6 q
JKHYHenry (Jack) & Associates	0.21%	7,836	$1M	added+1%	−0.04 pp	26 q
NTRANatera, Inc.	0.20%	19,865	$1M	added+1%	+0.06 pp	3 q
QLYSQualys, Inc.	0.20%	8,396	$1M	added+1%	+0.03 pp	26 q
BMRNBioMarin Pharmaceuticals Inc	0.19%	10,877	$1M	added0%	−0.01 pp	37 q
BPMCBlueprint Medicines Corporation	0.19%	23,603	$1M	added+1%	+0.01 pp	9 q
ENTGEntegris Inc	0.19%	13,138	$1M	added+1%	+0.04 pp	2 q
ZBRAZebra Technologies Corporation	0.18%	3,150	$1M	trimmed−20%	0.00 pp	13 q
HALOHalozyme Therapeutics, Inc.	0.17%	24,714	$943,828	trimmed−22%	−0.15 pp	26 q
RCKTRocket Pharmaceuticals, Inc.	0.17%	54,232	$928,994	trimmed−0%	−0.02 pp	14 q
CHDChurch & Dwight Co., Inc.	0.16%	10,255	$906,645	added+2%	+0.01 pp	26 q
SPNNSapiens International Corp	0.16%	41,314	$897,340	added+58%	+0.07 pp	10 q
GOOGAlphabet Inc. Class C	0.11%	6,157	$640,328	trimmed−2%	+0.01 pp	22 q
VICRVicor Corp	0.10%	11,355	$533,004	added+41%	+0.02 pp	6 q
SBUXStarbucks Corp	0.09%	4,710	$490,452	held	—	19 q
MUBiShares National Muni Bond ETF	0.07%	3,750	$404,025	held	—	6 q
COSTCostco Wholesale Corp	0.06%	662	$328,928	trimmed−1%	0.00 pp	3 q
IWFiShares Russell 1000 Growth ETF	0.06%	1,436	$350,858	trimmed−47%	−0.04 pp	18 q
URIUnited Rentals, Inc.	0.05%	660	$261,202	held	—	2 q
ABTAbbott Laboratories	0.04%	2,030	$205,558	held	—	2 q
DDDuPont de Nemours, Inc.	—	−114,605	—	exited	−1.42 pp	—
SCHWThe Charles Schwab Corporation	—	−72,221	—	exited	−1.08 pp	—
NKENike, Inc.	—	−29,911	—	exited	−0.63 pp	—
HIIHuntington Ingalls Industries, Inc.	—	−10,015	—	exited	−0.42 pp	—
MCDMcDonald's Corporation	—	−8,813	—	exited	−0.42 pp	—
VOTVanguard Morningstar Mid-Cap Growth ETF	—	−2,262	—	exited	−0.07 pp	—

Source

Form: 13F-HR
Reading: 2 defects · 1 unresolved
Accession: 0000950123-23-003582
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 2023-03-31
A security outside the official 13F list — CUSIP 54338V101 not on the Official 13(f) List for 2023-03-31

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