Torray

Q3 2024 13F · by James Bailey, portfolio manager

As of: Sep 30, 2024
Filed: Nov 4, 2024
US stock: $715M · prev $669M
Positions: 102 · prev 93
Options notional: $0
Documents: 1· no amendments

Picture97.9% US stock

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

US stock listed on a US exchange 97.9%
Foreign stock not listed in the US 2.1%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves100 since the prior filing

+4.7 pp in · −5.2 pp out

New 14 +2.41 pp
Added 47 +2.33 pp
Trimmed 34 −2.73 pp
Exited 5 −2.44 pp

The book

Diversified · behaves like 52 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 20% a year, about 5.0 years per position

Low
Moderate
High

Top 5 positions18% of US stock

GOOGL Alphabet Inc. Class A trimmed−0.72 pp trimmed−0.724.1%
FISV Fiserv, Inc. added+0.44 pp added+0.443.8%
BRK.B BERKSHIRE HATHAWAY Class B trimmed−0.17 pp trimmed−0.173.7%
RPRX Royalty Pharma plc Class A added+0.67 pp added+0.673.4%
HD Home Depot, Inc. added+0.30 pp added+0.302.8%

Positions102 in this filing · 5 exited


GOOGLAlphabet Inc. Class A	4.13%	178,004	$30M	trimmed−0%	−0.72 pp	37 q
FISVFiserv, Inc.	3.81%	151,450	$27M	added0%	+0.44 pp	46 q
BRK.BBERKSHIRE HATHAWAY Class B	3.74%	58,027	$27M	trimmed−10%	−0.17 pp	30 q
RPRXRoyalty Pharma plc Class A	3.40%	857,919	$24M	added+24%	+0.67 pp	12 q
HDHome Depot, Inc.	2.80%	49,348	$20M	added+2%	+0.30 pp	19 q
JPMJPMorgan Chase & Co.	2.57%	87,219	$18M	added+3%	+0.01 pp	22 q
JNJJohnson & Johnson	2.52%	111,264	$18M	added+27%	+0.61 pp	46 q
AXPAmerican Express Company	2.51%	66,250	$18M	added+2%	+0.26 pp	46 q
EOGEOG Resources, Inc.	2.45%	142,234	$17M	trimmed−3%	−0.29 pp	13 q
MRSHMarsh	2.43%	77,877	$17M	held	—	46 q
GDGeneral Dynamics Corporation	2.37%	56,037	$17M	trimmed−0%	−0.06 pp	46 q
LEN.BLennar Corporation Class B	2.34%	96,859	$17M	held	—	8 q
MSFTMicrosoft Corp	2.32%	38,516	$17M	added+1%	−0.22 pp	34 q
PSXPhillips 66	2.31%	125,686	$17M	added+7%	−0.17 pp	34 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	2.24%	27,325	$16M	added+2%	+0.19 pp	46 q
CBChubb Limited	2.16%	53,497	$15M	trimmed−0%	+0.12 pp	35 q
AMZNAmazon.Com Inc	2.15%	82,486	$15M	added+1%	−0.21 pp	28 q
AAPLApple Inc.	2.01%	61,568	$14M	added0%	+0.07 pp	46 q
QCOMQualcomm Inc	2.00%	84,201	$14M	added+17%	−0.15 pp	34 q
AVGOBroadcom Inc.	1.94%	80,472	$14M	added+5%	+0.10 pp	9 q
WRBW.R. Berkley Corporation	1.93%	243,713	$14M	trimmed0%	+0.02 pp	6 q
TXNTexas Instruments Incorporated	1.93%	66,718	$14M	held	—	11 q
ETNEaton Corporation, plc	1.91%	41,092	$14M	held	—	46 q
HONHoneywell International, Inc.	1.70%	58,837	$12M	added0%	−0.17 pp	18 q
KEYSKeysight Technologies, Inc.	1.60%	71,925	$11M	held	—	3 q
SLBSLB Limited	1.49%	253,549	$11M	added+2%	−0.26 pp	15 q
AMATApplied Materials Inc	1.48%	52,284	$11M	added+2%	−0.32 pp	8 q
ULTAUlta Beauty, Inc.	1.47%	26,952	$10M	added+22%	+0.20 pp	2 q
AMTAmerican Tower Corporation	1.37%	42,171	$10M	trimmed−11%	0.00 pp	46 q
CNSWFConstellation Sftwre Inc	1.18%	2,596	$8M	trimmed−2%	+0.04 pp	15 q
NOWServicenow, Inc.	1.16%	9,286	$8M	trimmed−16%	−0.14 pp	10 q
CPRTCopart Inc	1.04%	142,044	$7M	added0%	−0.11 pp	32 q
VRTXVertex Pharmaceuticals Inc	1.03%	15,751	$7M	added+13%	+0.05 pp	4 q
CASYCasey's General Stores Inc	1.01%	19,273	$7M	added+85%	+0.41 pp	2 q
ADBEAdobe Inc.	0.97%	13,402	$7M	added0%	−0.14 pp	46 q
LZAGYLonza Group AG UNSP/	0.96%	108,399	$7M	trimmed−1%	+0.07 pp	29 q
VEEVVeeva Systems Inc.	0.96%	32,571	$7M	trimmed−0%	+0.07 pp	7 q
APHAmphenol Corporation	0.95%	104,027	$7M	trimmed0%	−0.10 pp	46 q
TYLTyler Technologies, Inc.	0.89%	10,877	$6M	trimmed−1%	+0.06 pp	15 q
SHWThe Sherwin-Williams Company	0.88%	16,395	$6M	trimmed−1%	+0.14 pp	31 q
VRSKVerisk Analytics, Inc.	0.88%	23,570	$6M	trimmed−0%	−0.07 pp	41 q
VVISA Inc.	0.87%	22,586	$6M	added+3%	+0.01 pp	46 q
KLACKLA Corporation	0.84%	7,768	$6M	trimmed−1%	−0.12 pp	15 q
SNPSSynopsys Inc	0.83%	11,759	$6M	new	+0.83 pp	new
AJGArthur J. Gallagher & Co.	0.82%	20,849	$6M	trimmed−1%	+0.01 pp	7 q
ORLYO'Reilly Automotive, Inc.	0.81%	5,048	$6M	trimmed−27%	−0.28 pp	32 q
DHRDanaher Corporation	0.78%	19,921	$6M	trimmed−0%	+0.03 pp	46 q
POOLPool Corporation	0.76%	14,432	$5M	added+2%	+0.11 pp	29 q
MSMorgan Stanley	0.71%	48,487	$5M	added+8%	+0.06 pp	3 q
ENBEnbridge, Inc	0.70%	123,991	$5M	added+14%	+0.12 pp	46 q
UPSUnited Parcel Service, Inc. Class B	0.65%	34,176	$5M	added+13%	+0.03 pp	3 q
ABBVAbbvie Inc.	0.60%	21,564	$4M	added0%	+0.05 pp	34 q
MTNVail Resorts, Inc.	0.58%	23,958	$4M	added+25%	+0.07 pp	8 q
DLRDigital Realty Trust, Inc.	0.57%	25,165	$4M	added+3%	+0.01 pp	9 q
AMGNAmgen Inc	0.55%	12,158	$4M	trimmed−20%	−0.16 pp	29 q
HPEHewlett Packard Enterprise Company	0.53%	184,556	$4M	new	+0.53 pp	new
UNPUnion Pacific Corp.	0.53%	15,293	$4M	added+7%	+0.05 pp	8 q
BXBlackstone Inc.	0.50%	23,323	$4M	trimmed−33%	−0.15 pp	24 q
LMTLockheed Martin Corp.	0.50%	6,168	$4M	trimmed−7%	+0.04 pp	34 q
MOAltria Group, Inc.	0.49%	69,232	$4M	added+2%	+0.03 pp	24 q
CNACNA Financial Corporation	0.49%	72,162	$4M	new	+0.49 pp	new
HALOHalozyme Therapeutics, Inc.	0.44%	55,258	$3M	added+9%	+0.04 pp	32 q
MPWRMonolithic Power Systems, Inc.	0.44%	3,391	$3M	added+2%	+0.03 pp	24 q
RYANRyan Specialty Holdings, Inc.	0.36%	39,285	$3M	trimmed−1%	+0.02 pp	12 q
AKXAnsys Inc	0.35%	7,779	$2M	trimmed−70%	−0.91 pp	32 q
DTDynatrace, Inc.	0.35%	46,738	$2M	added+15%	+0.08 pp	14 q
RBCRBC Bearings Incorporated	0.35%	8,440	$3M	added0%	+0.01 pp	16 q
SBACSBA Communications Corp	0.33%	9,721	$2M	added+14%	+0.08 pp	31 q
TWTradeweb Markets Inc. Class A	0.32%	18,614	$2M	trimmed−0%	+0.03 pp	9 q
ICFIICF International, Inc.	0.30%	12,948	$2M	trimmed−10%	−0.02 pp	32 q
NTRANatera, Inc.	0.29%	16,075	$2M	added+1%	+0.03 pp	9 q
AZPNAspen Technology Inc	0.28%	8,314	$2M	added+1%	+0.03 pp	10 q
MTDMettler-Toledo International	0.28%	1,343	$2M	trimmed−1%	0.00 pp	32 q
BWXTBWX Technologies, Inc.	0.26%	17,189	$2M	added0%	+0.02 pp	4 q
JKHYHenry (Jack) & Associates	0.26%	10,370	$2M	added+1%	0.00 pp	32 q
SPNNSapiens International Corp	0.26%	49,463	$2M	added0%	+0.01 pp	16 q
COOThe Cooper Companies, Inc.	0.25%	16,058	$2M	added+1%	+0.04 pp	3 q
LNTHLantheus Holdings, Inc	0.25%	16,378	$2M	trimmed−37%	−0.06 pp	8 q
ENTGEntegris Inc	0.24%	15,137	$2M	added+2%	−0.06 pp	8 q
BPMCBlueprint Medicines Corporation	0.21%	16,313	$2M	added0%	−0.05 pp	15 q
CHDChurch & Dwight Co., Inc.	0.21%	14,111	$1M	added+1%	−0.01 pp	32 q
QLYSQualys, Inc.	0.20%	11,225	$1M	trimmed−1%	−0.04 pp	32 q
RCKTRocket Pharmaceuticals, Inc.	0.19%	73,424	$1M	added+9%	−0.03 pp	20 q
SPSCSPS Commerce, Inc.	0.18%	6,715	$1M	new	+0.18 pp	new
GOOGAlphabet Inc. Class C	0.17%	7,389	$1M	trimmed−5%	−0.04 pp	28 q
CCCCCC Intelligent Solutions Holdings Inc.	0.17%	110,062	$1M	trimmed−1%	−0.01 pp	2 q
BNDVanguard Total Bond Market	0.17%	16,325	$1M	held	—	12 q
AXSMAxsome Therapeutics, Inc	0.15%	11,823	$1M	added+1%	+0.01 pp	3 q
COSTCostco Wholesale Corp	0.08%	643	$570,032	trimmed−2%	0.00 pp	9 q
NOCNorthrop Grumman Corp.	0.07%	887	$468,398	new	+0.07 pp	new
URIUnited Rentals, Inc.	0.07%	660	$534,422	held	—	8 q
IWFiShares Russell 1000 Growth ETF	0.06%	1,138	$427,182	trimmed−12%	−0.01 pp	24 q
LLYEli Lilly & Co.	0.05%	398	$352,604	new	+0.05 pp	new
MSIMotorola Solutions, Inc. New	0.04%	566	$254,491	new	+0.04 pp	new
MMM3M Company	0.04%	2,000	$273,400	new	+0.04 pp	new
ABTAbbott Laboratories	0.03%	1,800	$205,218	new	+0.03 pp	new
EWEdwards Lifesciences Corp	0.03%	3,324	$219,351	new	+0.03 pp	new
NVDANvidia Corp	0.03%	2,000	$242,880	trimmed−33%	−0.03 pp	2 q
PTCPtc, Inc	0.03%	1,136	$205,230	new	+0.03 pp	new
RTXRTX Corporation	0.03%	1,689	$204,639	new	+0.03 pp	new
TMOThermo Fisher Scientific, Inc.	0.03%	403	$249,284	new	+0.03 pp	new
UHSUniversal Health Services, Inc. Class B	0.03%	1,000	$229,010	new	+0.03 pp	new
TROWT Rowe Price Group Inc	—	−96,267	—	exited	−1.66 pp	—
CSCOCisco Systems, Inc. (DE)	—	−70,134	—	exited	−0.50 pp	—
BMRNBioMarin Pharmaceuticals Inc	—	−16,855	—	exited	−0.21 pp	—
RYCEYRolls Royce Hldgs S/	—	−50,000	—	exited	−0.04 pp	—
MRKMerck & Co., Inc.	—	−1,705	—	exited	−0.03 pp	—