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Torray

Q2 2023 13F · by James Bailey, portfolio manager

As of
Jun 30, 2023
Filed
Jul 20, 2023
US stock
$578M · prev $557M
Positions
96 · prev 100
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%

Moves81 since the prior filing

The book

Diversified · behaves like 53 equal-sized positions

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

Low turnover · 24% a year, about 4.2 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions16% of US stock

  1. GOOGL Alphabet Inc. Class A trimmed+0.33 pp trimmed+0.333.8%
  2. BRK.B BERKSHIRE HATHAWAY Class B held held3.8%
  3. FISV Fiserv, Inc. trimmed+0.22 pp trimmed+0.223.4%
  4. MRSH Marsh held held2.8%
  5. JPM JPMorgan Chase & Co. added+0.20 pp added+0.202.6%

Positions96 in this filing · 6 exited

GOOGLAlphabet Inc. Class A3.82%184,375$22Mtrimmed−2%+0.33 pp32 q
BRK.BBERKSHIRE HATHAWAY Class B3.78%64,106$22Mheld—25 q
FISVFiserv, Inc.3.36%154,008$19Mtrimmed−1%+0.22 pp41 q
MRSHMarsh2.83%87,022$16Mheld—41 q
JPMJPMorgan Chase & Co.2.65%105,268$15Madded+1%+0.20 pp17 q
HDHome Depot, Inc.2.60%48,416$15Madded+16%+0.38 pp14 q
MSFTMicrosoft Corp2.50%42,523$14Mtrimmed−1%+0.27 pp29 q
TROWT Rowe Price Group Inc2.44%125,957$14Madded+21%+0.33 pp7 q
MOAltria Group, Inc.2.43%310,487$14Madded0%−0.05 pp19 q
ETNEaton Corporation, plc2.43%69,976$14Mheld—41 q
EOGEOG Resources, Inc.2.32%117,201$13Madded+21%+0.33 pp8 q
PSXPhillips 662.31%139,834$13Madded+13%+0.05 pp29 q
QCOMQualcomm Inc2.25%109,242$13Madded+19%+0.14 pp29 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)2.23%26,873$13Madded+1%−0.03 pp41 q
AXPAmerican Express Company2.22%73,801$13Mheld—41 q
JNJJohnson & Johnson2.20%76,740$13Mheld—41 q
RPRXRoyalty Pharma plc Class A2.20%413,815$13Madded×3.0+1.31 pp7 q
AAPLApple Inc.2.17%64,569$13Mtrimmed−9%+0.07 pp41 q
LEN.BLennar Corporation Class B2.14%109,629$12Mheld—3 q
GDGeneral Dynamics Corporation2.09%56,052$12Mheld—41 q
HONHoneywell International, Inc.2.09%58,193$12Mheld—13 q
TXNTexas Instruments Incorporated2.07%66,344$12Mheld—6 q
AMATApplied Materials Inc1.90%76,014$11Mheld—3 q
AMZNAmazon.Com Inc1.86%82,287$11Mtrimmed−3%+0.29 pp23 q
CBChubb Limited1.78%53,357$10Mheld—30 q
GMGeneral Motors Company1.75%262,180$10Mheld—7 q
SLBSLB Limited1.69%198,961$10Mheld—10 q
WRBW.R. Berkley Corporation1.67%162,245$10Mnew+1.67 ppnew
KHCThe Kraft Heinz Company1.65%269,215$10Mheld—15 q
ORLYO'Reilly Automotive, Inc.1.27%7,673$7Mtrimmed−0%+0.10 pp27 q
CPRTCopart Inc1.26%79,716$7Mtrimmed−8%+0.09 pp27 q
ADBEAdobe Inc.1.20%14,139$7Mtrimmed−1%+0.21 pp41 q
NOWServicenow, Inc.1.17%11,992$7Mtrimmed−1%+0.16 pp5 q
VVISA Inc.1.09%26,568$6Mtrimmed−2%−0.01 pp41 q
AVGOBroadcom Inc.1.08%7,166$6Madded+45%+0.51 pp4 q
unresolvedCooper Cos Inc/The1.02%15,344$6Mtrimmed−0%−0.01 pp36 q
VRSKVerisk Analytics, Inc.0.98%25,103$6Mtrimmed−5%+0.07 pp36 q
CNSWFConstellation Sftwre Inc0.97%2,698$6Mtrimmed−4%+0.02 pp10 q
APHAmphenol Corporation0.95%64,698$5Mtrimmed−2%−0.02 pp41 q
KLACKLA Corporation0.91%10,841$5Mtrimmed−2%+0.11 pp10 q
AMTAmerican Tower Corporation0.85%25,478$5Madded+1%−0.08 pp41 q
IDXXIdexx Laboratories Inc0.85%9,784$5Mtrimmed−3%−0.06 pp22 q
POOLPool Corporation0.84%12,908$5Madded+11%+0.13 pp24 q
DHRDanaher Corporation0.83%19,922$5Madded+1%−0.06 pp41 q
AJGArthur J. Gallagher & Co.0.81%21,227$5Madded+2%+0.10 pp2 q
SHWThe Sherwin-Williams Company0.80%17,339$5Mtrimmed−0%+0.10 pp26 q
ACNAccenture PLC0.79%14,748$5Madded0%+0.04 pp41 q
TYLTyler Technologies, Inc.0.73%10,106$4Mtrimmed−1%+0.08 pp10 q
GMABGenmab A/S0.72%108,792$4Mtrimmed−2%−0.03 pp27 q
LZAGYLonza Group AG UNSP/0.69%66,750$4Madded+1%−0.02 pp24 q
VEEVVeeva Systems Inc.0.68%19,901$4Madded+3%+0.04 pp2 q
AMGNAmgen Inc0.53%13,849$3Madded+32%+0.08 pp24 q
CCICrown Castle Inc.0.50%25,612$3Madded+38%+0.05 pp13 q
LYBLyondellBasell Industries N.V. Class A0.50%31,738$3Mheld—29 q
DLRDigital Realty Trust, Inc.0.48%24,274$3Madded+1%+0.06 pp4 q
BXBlackstone Inc.0.46%28,734$3Madded0%+0.01 pp19 q
ABBVAbbvie Inc.0.44%18,744$3Madded0%−0.10 pp29 q
ENBEnbridge, Inc0.44%68,311$3Madded+1%−0.02 pp41 q
LMTLockheed Martin Corp.0.44%5,572$3Madded0%−0.03 pp29 q
GILDGilead Sciences Inc0.43%32,609$3Madded+1%−0.05 pp14 q
MTNVail Resorts, Inc.0.43%9,857$2Madded+2%+0.02 pp3 q
CSCOCisco Systems, Inc. (DE)0.42%47,191$2Madded+13%+0.03 pp41 q
UNPUnion Pacific Corp.0.38%10,876$2Madded+1%−0.01 pp3 q
PAYXPaychex Inc0.36%18,460$2Madded+2%−0.01 pp10 q
LNTHLantheus Holdings, Inc0.34%23,222$2Madded0%0.00 pp3 q
AKXAnsys Inc0.31%5,495$2Madded+1%−0.02 pp27 q
DTDynatrace, Inc.0.30%33,842$2Madded+1%+0.04 pp9 q
MPWRMonolithic Power Systems, Inc.0.30%3,236$2Madded+1%+0.01 pp19 q
RYANRyan Specialty Holdings, Inc.0.30%39,009$2Madded+1%+0.02 pp7 q
VRRMVerra Mobility Corporation Class A0.30%88,322$2Madded+1%+0.03 pp16 q
ICFIICF International, Inc.0.27%12,482$2Madded+1%+0.03 pp27 q
RBCRBC Bearings Incorporated0.27%7,189$2Madded+1%−0.03 pp11 q
TWTradeweb Markets Inc. Class A0.27%22,866$2Madded+1%−0.05 pp4 q
BPMCBlueprint Medicines Corporation0.26%23,740$2Madded+1%+0.07 pp10 q
ENTGEntegris Inc0.25%13,217$1Madded+1%+0.06 pp3 q
JKHYHenry (Jack) & Associates0.23%7,897$1Madded+1%+0.02 pp27 q
MTDMettler-Toledo International0.22%954$1Madded+1%−0.04 pp27 q
SBACSBA Communications Corp0.22%5,441$1Madded+1%−0.03 pp26 q
BNDVanguard Total Bond Market0.21%16,740$1Mheld—7 q
CHDChurch & Dwight Co., Inc.0.20%11,284$1Madded+10%+0.04 pp27 q
QLYSQualys, Inc.0.19%8,463$1Madded+1%−0.01 pp27 q
RCKTRocket Pharmaceuticals, Inc.0.19%54,569$1Madded+1%+0.02 pp15 q
SPNNSapiens International Corp0.19%41,617$1Madded+1%+0.03 pp11 q
AZPNAspen Technology Inc0.18%6,163$1Madded+1%−0.07 pp5 q
NTRANatera, Inc.0.17%20,026$974,465added+1%−0.03 pp4 q
BMRNBioMarin Pharmaceuticals Inc0.16%10,981$951,833added+1%−0.03 pp38 q
HALOHalozyme Therapeutics, Inc.0.16%24,959$900,271added+1%−0.01 pp27 q
ZBRAZebra Technologies Corporation0.16%3,183$941,627added+1%−0.02 pp14 q
GOOGAlphabet Inc. Class C0.15%7,127$862,153added+16%+0.04 pp23 q
VICRVicor Corp0.15%16,518$891,972added+45%+0.05 pp7 q
SBUXStarbucks Corp0.08%4,710$466,573held—20 q
IWFiShares Russell 1000 Growth ETF0.07%1,436$395,158held—19 q
COSTCostco Wholesale Corp0.06%662$356,408held—4 q
URIUnited Rentals, Inc.0.05%660$293,944held—3 q
ABTAbbott Laboratories0.04%2,030$221,311held—3 q
MAMastercard Incorporated0.04%613$241,093new+0.04 ppnew
DISThe Walt Disney Company—−119,815—exited−2.15 pp—
BMYBristol-Myers Squibb Co.—−161,134—exited−2.00 pp—
BACBank of America Corporation—−337,691—exited−1.73 pp—
AAPAdvance Auto Parts Inc—−74,695—exited−1.63 pp—
PRUPrudential Financial, Inc.—−26,228—exited−0.39 pp—
MUBiShares National Muni Bond ETF—−3,750—exited−0.07 pp—

Source

Form
13F-HR
Reading
2 defects · 1 unresolved
Accession
0000950123-23-006177
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 54338V101 not on the Official 13(f) List for 2023-06-30
  • A security outside the official 13F list — CUSIP 21037X100 not on the Official 13(f) List for 2023-06-30