Torray

Q4 2023 13F · by James Bailey, portfolio manager

As of: Dec 31, 2023
Filed: Feb 7, 2024
US stock: $618M · prev $567M
Positions: 94 · prev 94
Options notional: $0
Documents: 1· no amendments

Picture98.2% US stock

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

US stock listed on a US exchange 98.2%
Foreign stock not listed in the US 1.9%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves84 since the prior filing

+4.4 pp in · −4.3 pp out

New 3 +1.09 pp
Added 53 +3.31 pp
Trimmed 25 −1.97 pp
Exited 3 −2.34 pp

The book

Diversified · behaves like 51 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 15% a year, about 6.9 years per position

Low
Moderate
High

Top 5 positions17% of US stock

GOOGL Alphabet Inc. Class A added−0.08 pp added−0.084.1%
BRK.B BERKSHIRE HATHAWAY Class B held held3.7%
FISV Fiserv, Inc. added+0.24 pp added+0.243.3%
PSX Phillips 66 trimmed+0.03 pp trimmed+0.033.0%
JPM JPMorgan Chase & Co. trimmed+0.19 pp trimmed+0.192.8%

Positions94 in this filing · 3 exited


GOOGLAlphabet Inc. Class A	4.09%	180,997	$25M	added0%	−0.08 pp	34 q
BRK.BBERKSHIRE HATHAWAY Class B	3.70%	64,106	$23M	held	—	27 q
FISVFiserv, Inc.	3.27%	152,378	$20M	added0%	+0.24 pp	43 q
PSXPhillips 66	3.01%	139,741	$19M	trimmed−1%	+0.03 pp	31 q
JPMJPMorgan Chase & Co.	2.80%	101,820	$17M	trimmed−0%	+0.19 pp	19 q
HDHome Depot, Inc.	2.76%	49,151	$17M	trimmed−0%	+0.13 pp	16 q
ETNEaton Corporation, plc	2.73%	69,976	$17M	held	—	43 q
MRSHMarsh	2.67%	87,022	$16M	held	—	43 q
QCOMQualcomm Inc	2.59%	110,700	$16M	trimmed−1%	+0.41 pp	31 q
MSFTMicrosoft Corp	2.55%	41,885	$16M	added+1%	+0.24 pp	31 q
LEN.BLennar Corporation Class B	2.38%	109,629	$15M	held	—	5 q
GDGeneral Dynamics Corporation	2.36%	56,115	$15M	added0%	+0.18 pp	43 q
RPRXRoyalty Pharma plc Class A	2.30%	505,740	$14M	added+23%	+0.32 pp	9 q
EOGEOG Resources, Inc.	2.29%	117,074	$14M	trimmed−1%	−0.35 pp	10 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	2.29%	26,852	$14M	added0%	−0.10 pp	43 q
AXPAmerican Express Company	2.25%	74,201	$14M	held	—	43 q
JNJJohnson & Johnson	2.22%	87,362	$14M	added+14%	+0.11 pp	43 q
AAPLApple Inc.	2.10%	67,337	$13M	added+3%	+0.12 pp	43 q
AMZNAmazon.Com Inc	2.07%	84,322	$13M	added+1%	+0.19 pp	25 q
AMATApplied Materials Inc	2.00%	76,100	$12M	added0%	+0.14 pp	5 q
HONHoneywell International, Inc.	1.99%	58,708	$12M	added0%	+0.08 pp	15 q
CBChubb Limited	1.95%	53,427	$12M	added0%	−0.01 pp	32 q
WRBW.R. Berkley Corporation	1.86%	162,245	$11M	held	—	3 q
TXNTexas Instruments Incorporated	1.83%	66,344	$11M	held	—	8 q
MOAltria Group, Inc.	1.79%	273,523	$11M	trimmed−13%	−0.54 pp	21 q
TROWT Rowe Price Group Inc	1.68%	96,267	$10M	trimmed−24%	−0.67 pp	9 q
SLBSLB Limited	1.68%	198,961	$10M	held	—	12 q
AMTAmerican Tower Corporation	1.56%	44,808	$10M	added+73%	+0.81 pp	43 q
AVGOBroadcom Inc.	1.55%	8,598	$10M	trimmed−1%	+0.28 pp	6 q
KHCThe Kraft Heinz Company	1.35%	225,579	$8M	trimmed−16%	−0.25 pp	17 q
NOWServicenow, Inc.	1.31%	11,472	$8M	trimmed−0%	+0.18 pp	7 q
ADBEAdobe Inc.	1.20%	12,399	$7M	trimmed−9%	−0.02 pp	43 q
CPRTCopart Inc	1.12%	141,717	$7M	trimmed−7%	−0.04 pp	29 q
CNSWFConstellation Sftwre Inc	1.10%	2,737	$7M	added+3%	+0.13 pp	12 q
ORLYO'Reilly Automotive, Inc.	1.08%	7,040	$7M	added0%	−0.05 pp	29 q
VVISA Inc.	1.08%	25,631	$7M	added+1%	+0.05 pp	43 q
APHAmphenol Corporation	0.99%	61,722	$6M	added+1%	+0.08 pp	43 q
KLACKLA Corporation	0.97%	10,339	$6M	trimmed−0%	+0.13 pp	12 q
VRSKVerisk Analytics, Inc.	0.93%	24,000	$6M	added+1%	−0.06 pp	38 q
VRTXVertex Pharmaceuticals Inc	0.93%	14,068	$6M	new	+0.93 pp	new
POOLPool Corporation	0.86%	13,278	$5M	trimmed−1%	+0.02 pp	26 q
SHWThe Sherwin-Williams Company	0.84%	16,660	$5M	added+1%	+0.10 pp	28 q
ACNAccenture PLC	0.81%	14,344	$5M	added+1%	+0.04 pp	43 q
AJGArthur J. Gallagher & Co.	0.76%	20,964	$5M	added+1%	−0.07 pp	4 q
DHRDanaher Corporation	0.75%	19,958	$5M	added+3%	−0.10 pp	43 q
LZAGYLonza Group AG UNSP/	0.75%	110,045	$5M	added+67%	+0.21 pp	26 q
BXBlackstone Inc.	0.73%	34,495	$5M	added+17%	+0.17 pp	21 q
TYLTyler Technologies, Inc.	0.66%	9,721	$4M	added0%	0.00 pp	12 q
AMGNAmgen Inc	0.64%	13,831	$4M	trimmed−4%	−0.04 pp	26 q
VEEVVeeva Systems Inc.	0.60%	19,187	$4M	added0%	−0.09 pp	4 q
ENBEnbridge, Inc	0.59%	100,715	$4M	added+35%	+0.15 pp	43 q
GMABGenmab A/S	0.55%	107,201	$3M	added+3%	−0.10 pp	29 q
ABBVAbbvie Inc.	0.52%	20,601	$3M	trimmed−3%	−0.04 pp	31 q
DLRDigital Realty Trust, Inc.	0.52%	24,048	$3M	trimmed−4%	−0.01 pp	6 q
MTNVail Resorts, Inc.	0.50%	14,389	$3M	added+34%	+0.08 pp	5 q
UNPUnion Pacific Corp.	0.49%	12,369	$3M	added+4%	+0.06 pp	5 q
LYBLyondellBasell Industries N.V. Class A	0.49%	32,141	$3M	trimmed−3%	−0.06 pp	31 q
CSCOCisco Systems, Inc. (DE)	0.46%	55,865	$3M	added+12%	−0.01 pp	43 q
GILDGilead Sciences Inc	0.45%	34,552	$3M	trimmed−3%	−0.02 pp	16 q
LMTLockheed Martin Corp.	0.43%	5,818	$3M	trimmed−1%	+0.01 pp	31 q
PAYXPaychex Inc	0.38%	19,755	$2M	trimmed−3%	−0.04 pp	12 q
TWTradeweb Markets Inc. Class A	0.35%	23,682	$2M	added+1%	+0.02 pp	6 q
AKXAnsys Inc	0.34%	5,766	$2M	added+2%	+0.04 pp	29 q
MPWRMonolithic Power Systems, Inc.	0.34%	3,378	$2M	added+2%	+0.07 pp	21 q
RBCRBC Bearings Incorporated	0.34%	7,446	$2M	added+1%	+0.04 pp	13 q
DTDynatrace, Inc.	0.31%	35,105	$2M	added+1%	+0.02 pp	11 q
RCKTRocket Pharmaceuticals, Inc.	0.30%	60,856	$2M	added+1%	+0.08 pp	17 q
BPMCBlueprint Medicines Corporation	0.29%	19,235	$2M	trimmed−22%	+0.07 pp	12 q
RYANRyan Specialty Holdings, Inc.	0.29%	40,996	$2M	added+2%	−0.05 pp	9 q
ICFIICF International, Inc.	0.28%	12,999	$2M	added+1%	+0.01 pp	29 q
QLYSQualys, Inc.	0.28%	8,738	$2M	added+1%	+0.05 pp	29 q
SBACSBA Communications Corp	0.28%	6,792	$2M	added+5%	+0.05 pp	28 q
ENTGEntegris Inc	0.27%	13,849	$2M	added+4%	+0.05 pp	5 q
HALOHalozyme Therapeutics, Inc.	0.24%	39,886	$1M	added+53%	+0.06 pp	29 q
JKHYHenry (Jack) & Associates	0.24%	8,956	$1M	added+3%	+0.01 pp	29 q
LNTHLantheus Holdings, Inc	0.24%	24,316	$2M	added+2%	−0.05 pp	5 q
BMRNBioMarin Pharmaceuticals Inc	0.23%	14,668	$1M	added+3%	+0.01 pp	40 q
AZPNAspen Technology Inc	0.23%	6,546	$1M	added+3%	0.00 pp	7 q
MTDMettler-Toledo International	0.23%	1,195	$1M	added+3%	0.00 pp	29 q
NTRANatera, Inc.	0.22%	21,762	$1M	added+5%	+0.06 pp	6 q
unresolvedCooper Cos Inc/The	0.21%	3,392	$1M	trimmed−77%	−0.63 pp	38 q
SPNNSapiens International Corp	0.20%	43,754	$1M	added+1%	−0.02 pp	13 q
CHDChurch & Dwight Co., Inc.	0.19%	12,193	$1M	added+3%	0.00 pp	29 q
GOOGAlphabet Inc. Class C	0.18%	7,693	$1M	added+6%	+0.01 pp	25 q
BNDVanguard Total Bond Market	0.17%	14,165	$1M	trimmed−6%	−0.02 pp	9 q
ZBRAZebra Technologies Corporation	0.16%	3,529	$964,582	added+6%	+0.02 pp	16 q
BWXTBWX Technologies, Inc.	0.12%	9,283	$712,285	new	+0.12 pp	new
COSTCostco Wholesale Corp	0.09%	862	$568,989	held	—	6 q
IWFiShares Russell 1000 Growth ETF	0.06%	1,298	$393,515	held	—	21 q
URIUnited Rentals, Inc.	0.06%	660	$378,457	held	—	5 q
ABTAbbott Laboratories	0.04%	2,250	$247,658	held	—	5 q
MRKMerck & Co., Inc.	0.04%	2,041	$222,510	held	—	2 q
ROPRoper Technologies, Inc.	0.04%	410	$223,520	new	+0.04 pp	new
IDXXIdexx Laboratories Inc	0.03%	384	$213,139	trimmed−96%	−0.69 pp	24 q
GMGeneral Motors Company	—	−262,180	—	exited	−1.52 pp	—
CCICrown Castle Inc.	—	−37,144	—	exited	−0.60 pp	—
VICRVicor Corp	—	−20,764	—	exited	−0.22 pp	—

Source

Form: 13F-HR
Reading: 2 defects · 1 unresolved
Accession: 0000950123-24-001107
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 2023-12-31
A security outside the official 13F list — CUSIP 54338V101 not on the Official 13(f) List for 2023-12-31

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