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Torray Funds
Torray Funds
2026Q1 · filed May 1, 202688 positions · $682Mtop-5 21%
2026Q1 brief
Torray's $680M portfolio made two of its most dramatic moves in CEG (Constellation Energy, +383% to 3.8%) and MSFT (+129% to 4.2%), a decisive pivot into AI-adjacent power and software infrastructure that now anchors a portfolio already holding AVGO at 4.5%. The exits of UNH (previously 2.8%) and INTU (2.1%)—both former top-10 holdings—freed capital for this rotation, and the simultaneous departures of CPRT, ADBE, and TYL confirm a broader purge of software and quality-growth names in favor of the energy/AI-infrastructure complex. New positions in CMCSA (Comcast, 2.3%) and GE (Aerospace, 0.4%) add a media-contrarian and defense-industrial layer. The trim in PSX (-31.7% to 3.8%) partially offsets the energy enthusiasm, suggesting selectivity rather than a blanket commodity bet. CEG's surge to nearly 4% weight makes Torray one of the more concentrated nuclear-power bulls among institutional filers this quarter. Watch whether CEG and MSFT continue to be built toward 5%+ weights, which would cement this AI-power infrastructure thesis as the portfolio's defining bet.
AI-generated. Not investment advice.
Holdings (88) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | RPRX | 4.5% | $31M | |||
| 2 | AVGO | 4.5% | $31M | |||
| 3 | MSFT | 4.2% | $29M | |||
| 4 | CVX | 4.1% | $28M | |||
| 5 | CEG | 3.8% | $26M | |||
| 6 | PSX | 3.8% | $26M | |||
| 7 | HPE 7.625 09/01/27 | 3.5% | $24M | |||
| 8 | TXN | 3.5% | $24M | |||
| 9 | PFE | 3.2% | $22M | |||
| 10 | CNA | 3.2% | $22M | |||
| 11 | OKE | 3.2% | $22M | |||
| 12 | PEP | 3.1% | $21M | |||
| 13 | ABBV | 3.0% | $20M | |||
| 14 | KKR 6.25 03/01/28 D | 2.8% | $19M | |||
| 15 | AMGN | 2.8% | $19M | |||
| 16 | BX | 2.8% | $19M | |||
| 17 | NEE | 2.7% | $19M | |||
| 18 | PLD | 2.6% | $18M | |||
| 19 | MRSH | 2.4% | $16M | |||
| 20 | CMCSA | 2.3% | $16M | |||
| 21 | AMZN | 2.2% | $15M | |||
| 22 | GOOGL | 2.0% | $13M | |||
| 23 | AAPL | 1.8% | $13M | |||
| 24 | CASY | 1.8% | $12M | |||
| 25 | JPM | 1.7% | $11M | |||
| 26 | TSM | 1.3% | $9M | |||
| 27 | TW | 1.3% | $9M | |||
| 28 | BE | 1.2% | $8M | |||
| 29 | APH | 1.2% | $8M | |||
| 30 | VRTX | 1.0% | $7M | |||
| 31 | KLAC | 1.0% | $6M | |||
| 32 | AJG | 0.9% | $6M | |||
| 33 | V | 0.9% | $6M | |||
| 34 | LZAGY | 0.9% | $6M | |||
| 35 | ORLY | 0.8% | $6M | |||
| 36 | NOW | 0.8% | $6M | |||
| 37 | MS | 0.7% | $5M | |||
| 38 | RBC | 0.7% | $5M | |||
| 39 | VRSK | 0.7% | $5M | |||
| 40 | BMRN | 0.6% | $4M | |||
| 41 | VEEV | 0.6% | $4M | |||
| 42 | MPWR | 0.6% | $4M | |||
| 43 | SHW | 0.5% | $4M | |||
| 44 | G3323L100 | 0.5% | $4M | |||
| 45 | KRYS | 0.5% | $3M | |||
| 46 | GE | 0.4% | $3M | |||
| 47 | DT | 0.4% | $3M | |||
| 48 | BWXT | 0.4% | $3M | |||
| 49 | AXSM | 0.4% | $2M | |||
| 50 | HALO | 0.4% | $2M | |||
| 51 | SNDX | 0.4% | $2M | |||
| 52 | JKHY | 0.3% | $2M | |||
| 53 | RYAN | 0.3% | $2M | |||
| 54 | FCN | 0.3% | $2M | |||
| 55 | EVLV | 0.3% | $2M | |||
| 56 | MTD | 0.3% | $2M | |||
| 57 | ENTG | 0.3% | $2M | |||
| 58 | HURN | 0.3% | $2M | |||
| 59 | NTRA | 0.3% | $2M | |||
| 60 | COO | 0.3% | $2M | |||
| 61 | GOOG | 0.3% | $2M | |||
| 62 | QLYS | 0.2% | $2M | |||
| 63 | VSTM | 0.2% | $2M | |||
| 64 | BRK/B | 0.2% | $1M | |||
| 65 | HD | 0.2% | $1M | |||
| 66 | JNJ | 0.1% | $1M | |||
| 67 | VUG | 0.1% | $802K | |||
| 68 | COST | 0.1% | $626K | |||
| 69 | NOC | 0.1% | $605K | |||
| 70 | AXP | 0.1% | $594K | |||
| 71 | IWF | 0.1% | $591K | |||
| 72 | 773122106 | 0.1% | $578K | |||
| 73 | NVDA | 0.1% | $533K | |||
| 74 | URI | 0.1% | $481K | |||
| 75 | TSLA | 0.1% | $465K | |||
| 76 | ENB | 0.1% | $450K | |||
| 77 | RYCEY | 0.1% | $386K | |||
| 78 | LLY | 0.1% | $366K | |||
| 79 | DHR | 0.1% | $355K | |||
| 80 | RTX | <0.1% | $326K | |||
| 81 | SLB | <0.1% | $292K | |||
| 82 | MMM | <0.1% | $290K | |||
| 83 | HON | <0.1% | $280K | |||
| 84 | MSI | <0.1% | $246K | |||
| 85 | EW | <0.1% | $240K | |||
| 86 | WFC | <0.1% | $239K | |||
| 87 | VTI | <0.1% | $239K | |||
| 88 | UNP | <0.1% | $206K |
Sort↑
- 1RPRX4.5%$31MRoyalty Pharma Plcthis Q hold·18q
- 2AVGO4.5%$31MBroadcom Incthis Q hold·15q
- 3MSFT4.2%$29MMicrosoft Corpthis Q +129%·40q
- 4CVX4.1%$28MChevron Corpthis Q hold·4q
- 5CEG3.8%$26MConstellation Energythis Q +383%·6q
- 6PSX3.8%$26MPhillips 66this Q -32%·40q
- 7HPE 7.625 09/01/273.5%$24MHP Enterprise COthis Q hold·3q
- 8TXN3.5%$24MTexas Instruments Incthis Q hold·17q
- 9PFE3.2%$22MPfizer Incthis Q hold·5q
- 10CNA3.2%$22MCna Financial Corpthis Q hold·7q
- 11OKE3.2%$22MOneok Incthis Q hold·2q
- 12PEP3.1%$21MPepsico Incthis Q hold·3q
- 13ABBV3.0%$20MAbbvie Incthis Q hold·40q
- 14KKR 6.25 03/01/28 D2.8%$19MKkr & CO Incthis Q hold·2q
- 15AMGN2.8%$19MAmgen Incthis Q hold·35q
- 16BX2.8%$19MBlackstone Incthis Q hold·28q
- 17NEE2.7%$19MNextera Energy Incthis Q hold·3q
- 18PLD2.6%$18MPrologis Incthis Q hold·5q
- 19MRSH2.4%$16MMarsh & Mclennan Costhis Q hold·40q
- 20CMCSA2.3%$16MComcast Corp-class Athis Q New·8q
- 21AMZN2.2%$15MAmazon.com Incthis Q hold·34q
- 22GOOGL2.0%$13MAlphabet Inc-cl Athis Q hold·40q
- 23AAPL1.8%$13MApple Incthis Q hold·40q
- 24CASY1.8%$12MCasey's General Stores Incthis Q hold·8q
- 25JPM1.7%$11MJpmorgan Chase & COthis Q hold·35q
- 26TSM1.3%$9MTaiwan Semiconductor-sp Adrthis Q hold·4q
- 27TW1.3%$9MTradeweb Markets Inc-class Athis Q hold·15q
- 28BE1.2%$8MBloom Energy Corp- Athis Q +95%·5q
- 29APH1.2%$8MAmphenol Corp-cl Athis Q hold·40q
- 30VRTX1.0%$7MVertex Pharmaceuticals Incthis Q hold·10q
- 31KLAC1.0%$6MKla Corpthis Q -33%·21q
- 32AJG0.9%$6MArthur J Gallagher & COthis Q +25%·13q
- 33V0.9%$6MVisa Inc-class A Sharesthis Q hold·40q
- 34LZAGY0.9%$6MLonza Group Ag-unspon Adrthis Q hold·35q
- 35ORLY0.8%$6MO'reilly Automotive Incthis Q hold·38q
- 36NOW0.8%$6MServicenow Incthis Q +35%·16q
- 37MS0.7%$5MMorgan Stanleythis Q hold·9q
- 38RBC0.7%$5MRbc Bearings Incthis Q hold·22q
- 39VRSK0.7%$5MVerisk Analytics Incthis Q +40%·40q
- 40BMRN0.6%$4MBiomarin Pharmaceutical Incthis Q New·34q
- 41VEEV0.6%$4MVeeva Systems Inc-class Athis Q hold·13q
- 42MPWR0.6%$4MMonolithic Power Systems Incthis Q hold·30q
- 43SHW0.5%$4MSherwin-williams Co/thethis Q hold·37q
- 44G3323L1000.5%$4MFabrinetthis Q hold·3q
- 45KRYS0.5%$3MKrystal Biotech Incthis Q hold·4q
- 46GE0.4%$3MGeneral Electricthis Q New·—1q
- 47DT0.4%$3MDynatrace Incthis Q hold·20q
- 48BWXT0.4%$3MBwx Technologies Incthis Q hold·10q
- 49AXSM0.4%$2MAxsome Therapeutics Incthis Q hold·9q
- 50HALO0.4%$2MHalozyme Therapeutics Incthis Q hold·38q
- 51SNDX0.4%$2MSyndax Pharmaceuticals Incthis Q hold·2q
- 52JKHY0.3%$2MJack Henry & Associates Incthis Q hold·38q
- 53RYAN0.3%$2MRyan Specialty Holdings Incthis Q hold·18q
- 54FCN0.3%$2MFti Consulting Incthis Q hold·6q
- 55EVLV0.3%$2MEvolv Technologies Holdingsthis Q +171%·3q
- 56MTD0.3%$2MMettler-toledo Internationalthis Q hold·38q
- 57ENTG0.3%$2MEntegris Incthis Q -21%·17q
- 58HURN0.3%$2MHuron Consulting Group Incthis Q hold·3q
- 59NTRA0.3%$2MNatera Incthis Q -21%·15q
- 60COO0.3%$2MCooper Cos Inc/thethis Q hold·9q
- 61GOOG0.3%$2MAlphabet Inc-cl Cthis Q hold·34q
- 62QLYS0.2%$2MQualys Incthis Q +29%·38q
- 63VSTM0.2%$2MVerastem Incthis Q +38%·2q
- 64BRK/B0.2%$1MBerkshire Hathaway Inc-cl Bthis Q hold·36q
- 65HD0.2%$1MHome Depot Incthis Q -23%·25q
- 66JNJ0.1%$1MJohnson & Johnsonthis Q hold·40q
- 67VUG0.1%$802KVanguard Growth Etfthis Q -71%·3q
- 68COST0.1%$626KCostco Wholesale Corpthis Q hold·15q
- 69NOC0.1%$605KNorthrop Grumman Corpthis Q hold·7q
- 70AXP0.1%$594KAmerican Express COthis Q -92%·40q
- 71IWF0.1%$591KIshares Russell 1000 Growththis Q -30%·30q
- 727731221060.1%$578KRocket Labthis Q hold·5q
- 73NVDA0.1%$533KNvidia Corpthis Q hold·7q
- 74URI0.1%$481KUnited Rentals Incthis Q hold·14q
- 75TSLA0.1%$465KTesla Incthis Q -32%·3q
- 76ENB0.1%$450KEnbridge Incthis Q -25%·40q
- 77RYCEY0.1%$386KRolls-royce Holdings-sp Adrthis Q hold·5q
- 78LLY0.1%$366KEli Lilly & COthis Q hold·7q
- 79DHR0.1%$355KDanaher Corpthis Q hold·40q
- 80RTX<0.1%$326KRtx Corpthis Q hold·6q
- 81SLB<0.1%$292KSlb Ltdthis Q hold·23q
- 82MMM<0.1%$290K3M COthis Q hold·14q
- 83HON<0.1%$280KHoneywell International Incthis Q hold·33q
- 84MSI<0.1%$246KMotorola Solutions Incthis Q hold·13q
- 85EW<0.1%$240KEdwards Lifesciences Corpthis Q hold·7q
- 86WFC<0.1%$239KWells Fargo & COthis Q hold·22q
- 87VTI<0.1%$239KVanguard Total Stock Mkt Etfthis Q hold·4q
- 88UNP<0.1%$206KUnion Pacific Corpthis Q New·13q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| MSFT | Microsoft Corp | ADD | 4.2% | +129% | $29M |
| PSX | Phillips 66 | TRIM | 3.8% | -32% | $26M |
| CEG | Constellation Energy | ADD | 3.8% | +383% | $26M |
| UNH | Unitedhealth Group Inc | EXIT | 2.8% | -100% | $0 |
| CMCSA | Comcast Corp-class A | NEW | 2.3% | +100% | $16M |
| INTU | Intuit Inc | EXIT | 2.1% | -100% | $0 |
| AXP | American Express CO | TRIM | 0.1% | -92% | $594K |
| BE | Bloom Energy Corp- A | ADD | 1.2% | +95% | $8M |
| KLAC | Kla Corp | TRIM | 1.0% | -33% | $6M |
| AJG | Arthur J Gallagher & CO | ADD | 0.9% | +25% | $6M |
| CPRT | Copart Inc | EXIT | 0.9% | -100% | $0 |
| NOW | Servicenow Inc | ADD | 0.8% | +35% | $6M |
| ADBE | Adobe Inc | EXIT | 0.7% | -100% | $0 |
| CNSWF | Constellation Software Inc | EXIT | 0.7% | -100% | $0 |
| VRSK | Verisk Analytics Inc | ADD | 0.7% | +40% | $5M |
| BMRN | Biomarin Pharmaceutical Inc | NEW | 0.6% | +100% | $4M |
| TYL | Tyler Technologies Inc | EXIT | 0.6% | -100% | $0 |
| VUG | Vanguard Growth Etf | TRIM | 0.1% | -71% | $802K |
| GE | General Electric | NEW | 0.4% | +100% | $3M |
| NTRA | Natera Inc | TRIM | 0.3% | -21% | $2M |
| EVLV | Evolv Technologies Holdings | ADD | 0.3% | +171% | $2M |
| ENTG | Entegris Inc | TRIM | 0.3% | -21% | $2M |
| QLYS | Qualys Inc | ADD | 0.2% | +29% | $2M |
| CCC | Ccc Intelligent Solutions HO | EXIT | 0.2% | -100% | $0 |
| VSTM | Verastem Inc | ADD | 0.2% | +38% | $2M |
| HD | Home Depot Inc | TRIM | 0.2% | -23% | $1M |
| IWF | Ishares Russell 1000 Growth | TRIM | 0.1% | -30% | $591K |
| TSLA | Tesla Inc | TRIM | 0.1% | -32% | $465K |
| POOL | Pool Corp | EXIT | 0.1% | -100% | $0 |
| ENB | Enbridge Inc | TRIM | 0.1% | -25% | $450K |
| AMAT | Applied Materials Inc | EXIT | <0.1% | -100% | $0 |
| ABT | Abbott Laboratories | EXIT | <0.1% | -100% | $0 |
| UNP | Union Pacific Corp | NEW | <0.1% | +100% | $206K |
| EXPE | Expedia Group Inc | EXIT | <0.1% | -100% | $0 |
- ADDMSFT4.2%Microsoft CorpΔ +129%·$29M
- TRIMPSX3.8%Phillips 66Δ -32%·$26M
- ADDCEG3.8%Constellation EnergyΔ +383%·$26M
- EXITUNH2.8%Unitedhealth Group IncΔ -100%·$0
- NEWCMCSA2.3%Comcast Corp-class AΔ +100%·$16M
- EXITINTU2.1%Intuit IncΔ -100%·$0
- TRIMAXP0.1%American Express COΔ -92%·$594K
- ADDBE1.2%Bloom Energy Corp- AΔ +95%·$8M
- TRIMKLAC1.0%Kla CorpΔ -33%·$6M
- ADDAJG0.9%Arthur J Gallagher & COΔ +25%·$6M
- EXITCPRT0.9%Copart IncΔ -100%·$0
- ADDNOW0.8%Servicenow IncΔ +35%·$6M
- EXITADBE0.7%Adobe IncΔ -100%·$0
- EXITCNSWF0.7%Constellation Software IncΔ -100%·$0
- ADDVRSK0.7%Verisk Analytics IncΔ +40%·$5M
- NEWBMRN0.6%Biomarin Pharmaceutical IncΔ +100%·$4M
- EXITTYL0.6%Tyler Technologies IncΔ -100%·$0
- TRIMVUG0.1%Vanguard Growth EtfΔ -71%·$802K
- NEWGE0.4%General ElectricΔ +100%·$3M
- TRIMNTRA0.3%Natera IncΔ -21%·$2M
- ADDEVLV0.3%Evolv Technologies HoldingsΔ +171%·$2M
- TRIMENTG0.3%Entegris IncΔ -21%·$2M
- ADDQLYS0.2%Qualys IncΔ +29%·$2M
- EXITCCC0.2%Ccc Intelligent Solutions HOΔ -100%·$0
- ADDVSTM0.2%Verastem IncΔ +38%·$2M
- TRIMHD0.2%Home Depot IncΔ -23%·$1M
- TRIMIWF0.1%Ishares Russell 1000 GrowthΔ -30%·$591K
- TRIMTSLA0.1%Tesla IncΔ -32%·$465K
- EXITPOOL0.1%Pool CorpΔ -100%·$0
- TRIMENB0.1%Enbridge IncΔ -25%·$450K
- EXITAMAT<0.1%Applied Materials IncΔ -100%·$0
- EXITABT<0.1%Abbott LaboratoriesΔ -100%·$0
- NEWUNP<0.1%Union Pacific CorpΔ +100%·$206K
- EXITEXPE<0.1%Expedia Group IncΔ -100%·$0
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0000098758). Not investment advice.