Avalon Investment & Advisory

CIK

1221362

Location

HOUSTON, TX

Portfolio Value

Micro $81,287,073

Diversification

Diversified

Filing Date

Global Rank

#663 / 6,871 ▼ 14

Top Industry

Drug Manufacturers - General 9.0%

3Y Alpha vs SPY

-4.1%

Period ended 3 years ago

Filed May 15, 2023 · 3y

13 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+58.9%

SPY

+76.3%

Annualised alpha

-4.1%

Max drawdown

−16.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

229 positions · as of Mar 31, 2023 · Δ vs Dec 31, 2022

Top Position

3.6%

+0.4 pts

Top 5

15.1%

+0.2 pts

Top 10

26.8%

+0.6 pts

HHI

142

Diversified+0

Portfolio Trend

13 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2023

Sector	% Portfolio	Value	Positions
Technology	17.1%	$526,872,245	30
Financial Services	15.7%	$484,647,918	32
Healthcare	15.2%	$467,394,186	33
Industrials	10.9%	$334,454,034	22
Consumer Defensive	10.2%	$313,454,854	19
Energy	8.2%	$253,769,260	31
Consumer Cyclical	7.2%	$221,984,645	23
Communication Services	5.0%	$152,577,690	9
Unclassified	3.5%	$106,741,247	7
Real Estate	3.4%	$103,711,886	13
Basic Materials	2.6%	$81,287,073	6
Utilities	1.0%	$31,738,333	4

Last Quarter's Activity

Export CSV

Mar 31, 2023 vs Dec 31, 2022

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
VNT	Vontier Corp	+690,283	2,279,687	$62,326,642
BN	BROOKFIELD Corp /ON/	+460,659	1,436,704	$31,214,836
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	Exxon Mobil 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
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	$3,953,822
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
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
MCD	Mcdonalds Corp	+41,319	47,560	$13,298,251
RMNI	Rimini Street, Inc.	+34,144	1,214,166	$5,002,363
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
F	Ford Motor Co	−1,796,797	116,248	$1,464,724
SLB	Slb Limited/Nv	−303,156	28,303	$1,389,677
BAC	Bank Of America Corp /De/	−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/De	−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	$19,724,273
CI	Cigna Group	−51,922	5,425	$1,386,250
WFC	Wells Fargo & Company/Mn	−31,677	1,253,050	$46,839,009
KHC	Kraft Heinz Co	−26,726	364,296	$14,087,326
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
CHRD	Chord Energy Corp	−17,884	51,622	$6,948,321
TCBX	Third Coast Bancshares, Inc.	−17,719	17,719	$278,365
No positions match the current search.

New Positions

Positions the filer opened this quarter

17 positions

Ticker	Company	Shares	Value
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 /De/	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
VVV	Valvoline Inc	152,449	$5,326,568
APG	APi Group Corp	201,134	$3,014,334
DECK	Deckers Outdoor Corp	12,208	$914,684
SPGI	S&P Global Inc.	2,370	$817,104
ILMN	Illumina, Inc.	2,398	$542,465
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/Oh/	2,212	$316,448
No positions match the current search.

Sold Out

Positions the filer fully exited

22 positions

Ticker	Company	Shares	Value
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
CABO	Cable One, Inc.	889	$632,843
USB	US Bancorp De	11,946	$520,965
BMO	Bank Of Montreal /Can/	4,877	$441,856
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
BCS	Barclays PLC	10,884	$84,895
ERIC	Ericsson Lm Telephone Co	10,019	$58,510
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

6 positions · $81,287,073 total · Basic Materials only · as of Mar 31, 2023

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
LIN	Linde PLC Basic Materials	NEW	90,416	NEW	$32,137,463	NEW	39.54%
BHP	BHP Group Ltd Basic Materials	Reduced	261,992	-5,208	$16,612,912	+0.2%	20.44%
APD	Air Products & Chemicals, Inc. Basic Materials	Added	54,817	+6,602	$15,743,990	+5.9%	19.37%
MLM	Martin Marietta Materials Inc Basic Materials	Reduced	43,877	-245	$15,578,967	+4.5%	19.17%
FNV	FRANCO NEVADA Corp Basic Materials	Held	6,917	0	$1,008,498	+6.8%	1.24%
SQM	Chemical & Mining Co Of Chile Inc Basic Materials	Reduced	2,532	-113	$205,243	−2.8%	0.25%