Avalon Investment & Advisory
Filing Date
Global Rank
#726
/ 7,012
▼ 4
· as of Mar 2023
Top Industry
Drug Manufacturers - General
8.4%
Period ended 3 years ago
Filed May 15, 2023 · 3y
13 quarters · since Mar 2020
Regulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
Holder type
Unknown
Portfolio style
Measured from the filed 13F common-share book for Mar 31, 2023, never from the firm's own description.
Style
Diversified active
Top 10 weight 26.0%, 75.4 effective positions, active share 56.4% against the S&P 500 as of 2023-03-31; it meets none of the index-like, systematic-like or concentrated tests
Turnover
Medium turnover
34.5% over the last four quarters (30% to under 100%)
Horizon
Horizon unknown
The value-weighted holding period is at least 11.2 quarters, but 78.0% of the book was already held when coverage starts
Closest benchmark: the S&P 500 as of 2023-03-31, active share 56.4%; sector active share 11.4% against the combined 13F book's sector weights.
Over time 13 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
302 tracked positions · as of Mar 31, 2023 · Δ vs Dec 31, 2022Top Position
3.3%
+0.4 pts
Top 5
14.6%
+0.8 pts
Top 10
26.0%
+0.8 pts
HHI
133
Diversified−1
Portfolio Trend
13 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2023| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 20.3% | $723,009,827 |
| Financial Services | 14.8% | $526,006,630 |
| Healthcare | 13.4% | $478,748,329 |
| Industrials | 9.5% | $337,591,411 |
| Consumer Defensive | 9.3% | $329,996,721 |
| Unclassified | 8.1% | $288,345,333 |
| Energy | 7.1% | $254,107,950 |
| Consumer Cyclical | 6.4% | $227,245,062 |
| Communication Services | 4.4% | $155,569,232 |
| Real Estate | 2.9% | $103,711,886 |
| Basic Materials | 2.3% | $81,287,073 |
| Utilities | 1.6% | $55,885,435 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| VNT | Vontier Corp | +690,283 | 2,279,687 | $62,326,642 | |
| BN | BROOKFIELD Corp | +460,659 | 1,436,704 | $46,822,255 | |
| MRVL | Marvell Technology, Inc. | +227,385 | 237,874 | $10,299,944 | |
| AMZN | Amazon Com Inc | +200,033 | 379,379 | $39,186,056 | |
| KO | Coca Cola Co | +175,832 | 561,377 | $34,822,215 | |
| PFE | Pfizer Inc | +170,505 | 584,222 | $23,836,257 | |
| XOM | ExxonMobil Holdings Corp | +150,470 | 230,155 | $25,238,797 | |
| MDT | Medtronic plc | +133,039 | 160,295 | $12,922,982 | |
| GOOGL | Alphabet Inc. | +124,575 | 932,361 | $96,713,806 | |
| JMBS | Janus Henderson Mortgage-Backed Securities ETF | +120,565 | 668,860 | $31,229,073 | |
| IHS | IHS Holding Ltd | +113,724 | 646,213 | $5,660,825 | |
| DIS | Walt Disney Co | +108,112 | 116,536 | $11,668,749 | |
| PLD | Prologis, Inc. | +78,452 | 82,609 | $10,307,124 | |
| WMT | Walmart Inc. | +78,374 | 80,444 | $11,861,467 | |
| BUR | Burford Capital Ltd | +75,773 | 504,620 | $5,581,097 | |
| META | Meta Platforms, Inc. | +71,465 | 83,380 | $17,671,557 | |
| AAPL | Apple Inc. | +70,202 | 677,724 | $111,756,687 | |
| CRM | Salesforce, Inc. | +66,733 | 75,611 | $15,105,565 | |
| TSLA | Tesla, Inc. | +56,606 | 65,291 | $13,545,270 | |
| MSFT | Microsoft Corp | +52,655 | 326,786 | $94,212,403 | |
| MBB | iShares MBS ETF | +50,584 | 256,687 | $24,315,959 | |
| CAT | Caterpillar Inc | +50,338 | 53,060 | $12,142,250 | |
| BRK-B | Berkshire Hathaway Inc | +49,179 | 223,023 | $68,862,811 | |
| V | Visa Inc. | +48,944 | 76,171 | $17,173,513 | |
| IMXI | International Money Express, Inc. | +47,512 | 193,947 | $4,999,953 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| F | Ford Motor Co | −1,796,797 | 116,248 | $1,464,724 | |
| SLB | Slb Limited | −303,156 | 28,303 | $1,389,677 | |
| BAC | Bank Of America Corp | −276,163 | 879,474 | $25,152,956 | |
| IBM | International Business Machines Corp | −215,897 | 10,925 | $1,432,158 | |
| ORCL | Oracle Corp | −145,315 | 146,785 | $13,639,262 | |
| GILD | Gilead Sciences, Inc. | −137,937 | 253,084 | $20,998,379 | |
| QCOM | Qualcomm Inc | −118,680 | 5,007 | $638,793 | |
| TMUS | T-Mobile US, Inc. | −116,885 | 87,149 | $12,622,661 | |
| CMI | Cummins Inc | −96,994 | 294,169 | $70,271,090 | |
| MGNI | Magnite, Inc. | −65,040 | 183,854 | $1,702,488 | |
| GPC | Genuine Parts Co | −57,202 | 70,049 | $11,719,898 | |
| HON | Honeywell International Inc | −56,135 | 109,499 | $20,927,452 | |
| CI | Cigna Group | −51,922 | 5,425 | $1,386,250 | |
| WFC | Wells Fargo & Company | −31,677 | 1,253,050 | $46,839,009 | |
| VTI | VANGUARD TOTAL STOCK MARKET INDEX FUND | −29,794 | 16,488 | $3,365,200 | |
| KHC | Kraft Heinz Co | −26,726 | 364,296 | $14,087,326 | |
| — | −24,446 | 40,216 | $1,211,708 | ||
| LMT | Lockheed Martin Corp | −23,816 | 96,162 | $45,458,662 | |
| MS | Morgan Stanley | −22,927 | 761,727 | $66,879,630 | |
| VZ | Verizon Communications Inc | −21,635 | 273,863 | $10,650,532 | |
| CALM | Cal-Maine Foods Inc | −21,564 | 810,594 | $49,357,068 | |
| PSX | Phillips 66 | −21,202 | 482,214 | $48,886,855 | |
| MRK | Merck & Co., Inc. | −19,639 | 736,753 | $78,383,151 | |
| RYN | Rayonier Inc | −18,671 | 468,391 | $15,578,684 | |
| JPM | Jpmorgan Chase & Co | −18,405 | 370,219 | $48,243,237 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| KMX | Carmax Inc | 731,690 | $47,033,033 | |
| LIN | Linde PLC | 90,416 | $32,137,463 | |
| DE | Deere & Co | 28,157 | $11,625,462 | |
| REGN | Regeneron Pharmaceuticals, Inc. | 13,831 | $11,364,517 | |
| TJX | Tjx Companies Inc | 140,845 | $11,036,614 | |
| TFC | Truist Financial Corp | 285,325 | $9,729,582 | |
| PNC | Pnc Financial Services Group, Inc. | 71,199 | $9,049,392 | |
| DRI | Darden Restaurants Inc | 35,411 | $5,494,370 | |
| DECK | Deckers Outdoor Corp | 12,208 | $5,488,106 | |
| VVV | Valvoline Inc | 152,449 | $5,326,568 | |
| APG | APi Group Corp | 201,134 | $4,521,502 | |
| VCSH | VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 50,200 | $3,826,746 | |
| SPGI | S&P Global Inc. | 2,370 | $817,104 | |
| ILMN | Illumina, Inc. | 2,398 | $557,655 | |
| — | 3,752 | $496,540 | ||
| LNG | Cheniere Energy, Inc. | 3,149 | $496,282 | |
| ZTS | Zoetis Inc. | 2,837 | $472,190 | |
| EXPE | Expedia Group, Inc. | 3,383 | $328,252 | |
| PGR | Progressive Corp | 2,212 | $316,448 | |
| SHY | iShares 1-3 Year Treasury Bond ETF | 3,692 | $303,334 | |
| GDX | VanEck Gold Miners ETF | 8,006 | $258,994 | |
| VBR | VANGUARD SMALL-CAP VALUE INDEX FUND | 1,546 | $245,442 | |
| BND | VANGUARD TOTAL BOND MARKET INDEX FUND | 2,968 | $219,127 | |
| IWV | iShares Russell 3000 ETF | 900 | $211,869 | |
| — | 11,007 | $0 | ||
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| SCHW | Schwab Charles Corp | 356,462 | $29,679,026 | |
| LPLA | LPL Financial Holdings Inc. | 89,954 | $19,445,356 | |
| STZ | Constellation Brands, Inc. | 66,604 | $15,435,477 | |
| WM | Waste Management Inc | 98,232 | $15,410,636 | |
| DOV | DOVER Corp | 99,788 | $13,512,293 | |
| ACI | Albertsons Companies, Inc. | 617,616 | $12,809,355 | |
| ALB | Albemarle Corp | 48,894 | $10,603,152 | |
| ZD | Ziff Davis, Inc. | 65,453 | $5,177,332 | |
| XPEL | XPEL, Inc. | 47,317 | $2,841,859 | |
| PFBC | Preferred Bank | 34,895 | $2,603,864 | |
| VB | Vanguard Index Funds | 6,683 | $1,226,597 | |
| IGSB | iShares 1-5 Year Investment Grade Corporate Bond ETF | 16,836 | $838,769 | |
| MGK | VANGUARD MEGA CAP GROWTH INDEX FUND | 3,709 | $638,207 | |
| CABO | Cable One, Inc. | 889 | $632,843 | |
| USB | US Bancorp De | 11,946 | $520,965 | |
| BMO | Bank Of Montreal | 4,877 | $441,856 | |
| XLRE | State Street(R) Real Estate Select Sector SPDR(R) ETF | 7,376 | $272,395 | |
| HALO | Halozyme Therapeutics, Inc. | 4,725 | $268,852 | |
| RY | Royal Bank Of Canada | 2,703 | $254,136 | |
| HP | Helmerich & Payne, Inc. | 4,935 | $244,627 | |
| VC | Visteon Corp | 1,810 | $236,802 | |
| GMED | Globus Medical Inc | 3,159 | $234,618 | |
| GS | Goldman Sachs Group Inc | 634 | $217,702 | |
| UTHR | UNITED THERAPEUTICS Corp | 775 | $215,519 | |
| IYH | iShares U.S. Healthcare ETF | 711 | $201,717 | |
| No positions match the current search. | ||||
302 tracked positions ·
$3,561,504,889 total
· filing declares
309 positions · $3,653,145,225
· as of Mar 31, 2023
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 302 positions by value
· page 1 of 7
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| LRCX |
Lam Research Corp
Technology
|
Reduced | 224,749 | $119,143,939 | 3.35% | |
| AAPL |
Apple Inc.
Technology
|
Added | 677,724 | $111,756,687 | 3.14% | |
| GOOGL |
Alphabet Inc.
Communication Services
|
Added | 932,361 | $96,713,806 | 2.72% | |
| MSFT |
Microsoft Corp
Technology
|
Added | 326,786 | $94,212,403 | 2.65% | |
| CVX |
Chevron Corp
Energy
|
Reduced | 503,278 | $82,114,838 | 2.31% | |
| UNH |
Unitedhealth Group Inc
Healthcare
|
Reduced | 166,793 | $78,824,703 | 2.21% | |
| MRK |
Merck & Co., Inc.
Healthcare
|
Reduced | 736,753 | $78,383,151 | 2.20% | |
| TXN |
Texas Instruments Inc
Technology
|
Reduced | 408,096 | $75,909,936 | 2.13% | |
| CMI |
Cummins Inc
Industrials
|
Reduced | 294,169 | $70,271,090 | 1.97% | |
| BRK-B |
Berkshire Hathaway Inc
Financial Services
|
Added | 223,023 | $68,862,811 | 1.93% | |
| MS |
Morgan Stanley
Financial Services
|
Reduced | 761,727 | $66,879,630 | 1.88% | |
| PEP |
Pepsico Inc
Consumer Defensive
|
Reduced | 351,477 | $64,074,257 | 1.80% | |
| VNT |
Vontier Corp
Technology
|
Added | 2,279,687 | $62,326,642 | 1.75% | |
| SPY |
Spdr S&P 500 ETF Trust
|
Reduced | 150,627 | $61,665,187 | 1.73% | |
| CALM |
Cal-Maine Foods Inc
Consumer Defensive
|
Reduced | 810,594 | $49,357,068 | 1.39% | |
| ACN |
Accenture plc
Technology
|
Reduced | 171,947 | $49,144,172 | 1.38% | |
| PSX |
Phillips 66
Energy
|
Reduced | 482,214 | $48,886,855 | 1.37% | |
| JPM |
Jpmorgan Chase & Co
Financial Services
|
Reduced | 370,219 | $48,243,237 | 1.35% | |
| PG |
PROCTER & GAMBLE Co
Consumer Defensive
|
Reduced | 319,187 | $47,459,915 | 1.33% | |
| KMX |
Carmax Inc
Consumer Cyclical
|
NEW | 731,690 | $47,033,033 | 1.32% | |
| WFC |
Wells Fargo & Company
Financial Services
|
Reduced | 1,253,050 | $46,839,009 | 1.32% | |
| BN |
BROOKFIELD Corp
Financial Services
|
Added | 1,436,704 | $46,822,255 | 1.31% | |
| LMT |
Lockheed Martin Corp
Industrials
|
Reduced | 96,162 | $45,458,662 | 1.28% | |
| HD |
Home Depot, Inc.
Consumer Cyclical
|
Reduced | 150,066 | $44,287,477 | 1.24% | |
| CHRW |
C. H. Robinson Worldwide, Inc.
Industrials
|
Reduced | 440,740 | $43,796,333 | 1.23% | |
| EMR |
Emerson Electric Co
Industrials
|
Reduced | 501,695 | $43,717,702 | 1.23% | |
| UPS |
United Parcel Service Inc
Industrials
|
Reduced | 220,686 | $42,810,877 | 1.20% | |
| TROW |
Price T Rowe Group Inc
Financial Services
|
Reduced | 374,421 | $42,272,130 | 1.19% | |
| ABBV |
AbbVie Inc.
Healthcare
|
Reduced | 248,957 | $39,676,277 | 1.11% | |
| AMZN |
Amazon Com Inc
Consumer Cyclical
|
Added | 379,379 | $39,186,056 | 1.10% | |
| KO |
Coca Cola Co
Consumer Defensive
|
Added | 561,377 | $34,822,215 | 0.98% | |
| TGT |
Target Corp
Consumer Defensive
|
Reduced | 204,931 | $33,942,721 | 0.95% | |
| AVGO |
Broadcom Inc.
Technology
|
Reduced | 51,266 | $32,889,189 | 0.92% | |
| LIN |
Linde PLC
Basic Materials
|
NEW | 90,416 | $32,137,463 | 0.90% | |
| JMBS |
Janus Henderson Mortgage-Backed Securities ETF
|
Added | 668,860 | $31,229,073 | 0.88% | |
| NVDA |
Nvidia Corp
Technology
|
Added | 110,676 | $30,742,472 | 0.86% | |
| BMY |
Bristol Myers Squibb Co
Healthcare
|
Reduced | 424,938 | $29,452,452 | 0.83% | |
| XOM |
ExxonMobil Holdings Corp
Energy
|
Added | 230,155 | $25,238,797 | 0.71% | |
| BAC |
Bank Of America Corp
Financial Services
|
Reduced | 879,474 | $25,152,956 | 0.71% | |
| BRK-A |
Berkshire Hathaway Inc
Financial Services
|
Held | 53 | $24,676,800 | 0.69% | |
| AMGN |
Amgen Inc
Healthcare
|
Added | 102,009 | $24,660,675 | 0.69% | |
| MBB |
iShares MBS ETF
|
Added | 256,687 | $24,315,959 | 0.68% | |
| IVV |
iShares Core S&P 500 ETF
|
Added | 58,942 | $24,229,877 | 0.68% | |
| FISV |
Fiserv Inc
|
Reduced | 213,326 | $24,112,237 | 0.68% | |
| PFE |
Pfizer Inc
Healthcare
|
Added | 584,222 | $23,836,257 | 0.67% | |
| VLO |
Valero Energy Corp
Energy
|
Reduced | 161,979 | $22,612,268 | 0.63% | |
| LLY |
ELI LILLY & Co
Healthcare
|
Reduced | 62,151 | $21,343,896 | 0.60% | |
| GILD |
Gilead Sciences, Inc.
Healthcare
|
Reduced | 253,084 | $20,998,379 | 0.59% | |
| HON |
Honeywell International Inc
Industrials
|
Reduced | 109,499 | $20,927,452 | 0.59% | |
| DUK |
Duke Energy CORP
Utilities
|
Reduced | 209,927 | $20,251,657 | 0.57% |
Showing the top 50 of 302 positions. Create a free account to see every position, past quarters, search, filters and CSV export.
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.