AS
Armstrong Shaw Associates Inc/ct Historical SEC 13F Holdings & Archive (Q3 2023)
Armstrong Shaw Associates Inc/ctCIK: 0001034550
Diversified strategyLong-term holderQuality / disciplined sizing
Total reported value
$95.2M
Reporting period: 2023-09-30 · Number of holdings: 44
ARMSTRONG SHAW ASSOCIATES INC/CT disclosed 44 holdings in its latest 13F filing for the period ending 2023-09-30, with total reported value of $95.2M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 23.21
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 47.45
- Diversification
- 88
- Sizing Uniformity
- 87.39
Armstrong Shaw Associates Inc/ct's disclosed holdings carry a Herfindahl concentration index of 0.058 — mathematically equivalent to about 17 equally-sized positions, well below its 44 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.26), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNo holding changes this quarter
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 12.26% | — | — | |
| 2 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 11.17% | — | — | |
| 3 | AAPL | Apple Inc | Stock-Tech | 8.52% | — | — | |
| 4 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 6.84% | — | — | |
| 5 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 6.51% | — | — | |
| 6 | APD | Air Products & Chemicals Inc | Stock-Materials | 4.41% | — | — | |
| 7 | ELV | Elevance Health Inc | Stock-Healthcare | 4.05% | — | — | |
| 8 | ✓ | Stock-Other | 3.80% | — | — | ||
| 9 | STZ | Constellation Brands Inc-a | Stock-Consumer Staples | 3.31% | — | — | |
| 10 | ✓ | Stock-Other | 3.27% | — | — | ||
| 11 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.27% | — | — | |
| 12 | CVX | Chevron CORP | Stock-Energy | 3.26% | — | — | |
| 13 | HON | Honeywell International Inc | Stock-Industrials | 3.21% | — | — | |
| 14 | CVS | Cvs Health CORP | Stock-Healthcare | 3.05% | — | — | |
| 15 | WMB | Williams Cos Inc | Stock-Energy | 2.41% | — | — | |
| 16 | ✓ | Stock-Other | 2.12% | — | — | ||
| 17 | ✓ | Stock-Other | 2.12% | — | — | ||
| 18 | COF | Capital One Financial CORP | Stock-Financials | 1.85% | — | -5.23% | |
| 19 | CZR | Caesars Entertainment Inc | Stock-Consumer Disc | 1.72% | — | — | |
| 20 | NXPI | NXP Semiconductors N.V. | Stock-Tech | 1.68% | — | — | |
| 21 | C | Citigroup Inc | Stock-Financials | 1.08% | — | -24.64% | |
| 22 | WH | Wyndham Hotels & Resorts Inc | Stock-Consumer Disc | 1.02% | — | — | |
| 23 | ✓ | Stock-Other | 0.77% | — | — | ||
| 24 | AEE | Ameren Corporation | Stock-Utilities | 0.75% | — | — | |
| 25 | ✓ | Stock-Other | 0.70% | — | — | ||
| 26 | BN | Brookfield CORP | Stock-Financials | 0.67% | — | — | |
| 27 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.62% | — | — | |
| 28 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 0.62% | — | — | |
| 29 | ✓ | Stock-Other | 0.48% | — | -3.75% | ||
| 30 | PYPL | Paypal Holdings Inc | Stock-Financials | 0.42% | — | — | |
| 31 | DVN | Devon Energy CORP | Stock-Energy | 0.39% | — | — | |
| 32 | TNL | Travel + Leisure Co | Stock-Consumer Disc | 0.38% | — | — | |
| 33 | DOW | Dow Inc | Stock-Materials | 0.35% | — | -3.56% | |
| 34 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.33% | — | — | |
| 35 | ✓ | Stock-Other | 0.32% | — | — | ||
| 36 | CTVA | Corteva Inc | Stock-Materials | 0.32% | — | -3.87% | |
| 37 | MAR | Marriott International -cl A | Stock-Consumer Disc | 0.31% | — | — | |
| 38 | GS | Goldman Sachs Group Inc | Stock-Financials | 0.27% | — | — | |
| 39 | BA | Boeing Co/the | Stock-Industrials | 0.26% | — | — | |
| 40 | AXP | American Express Co | Stock-Financials | 0.24% | — | — | |
| 41 | GILD | Gilead Sciences Inc | Stock-Healthcare | 0.23% | — | — | |
| 42 | ZBH | Zimmer Biomet Holdings Inc | Stock-Healthcare | 0.22% | — | — | |
| 43 | DIS | Walt Disney Co/the | Stock-Comm Services | 0.22% | — | — | |
| 44 | GE | General Electric | Stock-Industrials | 0.22% | — | — |
Portfolio Performance
Performance for Q3 2026
+3.2%
Performance Last 4 Quarters
+22.5%
Based on 88% of reported portfolio value with available pricing
- Stdev
- +12.2%
- Beta
- +0.85
- Alpha
- -0.5%
- Max Drawdown
- -8.9%
- Annualized Perf
- +17.1%
- Batting Avg vs S&P
- +36.1%
- Sortino
- +2.98
- Stutzer
- +0.41
- Treynor
- +0.19
- Sterling
- +1.07
- Calmar
- +1.91
- Information Ratio
- -0.61
- Tracking Error
- +5.6%
- Stdev Down
- +5.5%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +29.7%
- Worst 12 Months
- +4.7%
- Efficiency Ratio
- +0.55
- Sharpe
- +1.36
- Stdev Sectors
- +7.6%
- Skewness
- +0.56
- Kurtosis
- +0.85
- Upside Potential
- +4.76
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2023 Q3 | 44 | $95.2M | 0 | ||
| 2023 Q2 | 47 | $98.3M | 0 | ||
| 2023 Q1 | 45 | $101.9M | 0 | ||
| 2022 Q4 | 42 | $100.6M | 0 | ||
| 2022 Q3 | 41 | $93.2M | 0 | ||
| 2022 Q2 | 42 | $99.3M | 0 | ||
| 2022 Q1 | 43 | $119.6M | 0 | ||
| 2021 Q4 | 43 | $122.9M | 0 | ||
| 2021 Q3 | 42 | $114.3M | 0 | ||
| 2021 Q2 | 44 | $115.1M | 97 | ||
| 2021 Q1 | 43 | $109.4M | 11 | ||
| 2020 Q4 | 39 | $102.0M | 20 | ||
| 2020 Q3 | 37 | $84.6M | 24 | ||
| 2020 Q2 | 43 | $81.8M | 12 | ||
| 2020 Q1 | 44 | $78.9M | 37 | ||
| 2019 Q4 | 47 | $113.7M | 10 | ||
| 2019 Q3 | 44 | $110.5M | 8 | ||
| 2019 Q2 | 44 | $109.5M | 15 | ||
| 2019 Q1 | 39 | $104.3M | 20 | ||
| 2018 Q4 | 39 | $95.7M | 22 | ||
| 2018 Q3 | 42 | $116.4M | 12 | ||
| 2018 Q2 | 43 | $110.3M | 13 | ||
| 2018 Q1 | 41 | $110.8M | 7 | ||
| 2017 Q4 | 41 | $118.5M | 9 | ||
| 2017 Q3 | 41 | $110.7M | 88 | ||
| 2017 Q2 | 42 | $265.4M | 44 | ||
| 2017 Q1 | 42 | $400.0M | 20 | ||
| 2016 Q4 | 44 | $420.6M | 19 | ||
| 2016 Q3 | 50 | $402.5M | 22 | ||
| 2016 Q2 | 38 | $392.5M | 16 | ||
| 2016 Q1 | 39 | $387.1M | 27 | ||
| 2015 Q4 | 42 | $423.7M | 26 | ||
| 2015 Q3 | 41 | $412.5M | 16 | ||
| 2015 Q2 | 42 | $462.1M | 13 | ||
| 2015 Q1 | 40 | $466.2M | 20 | ||
| 2014 Q4 | 41 | $552.5M | 37 | ||
| 2014 Q3 | 43 | $549.7M | 15 | ||
| 2014 Q2 | 42 | $553.3M | 45 | ||
| 2014 Q1 | 43 | $813.8M | 100 | ||
| 2013 Q4 | 45 | $2.7B | 21 | ||
| 2013 Q3 | 44 | $2.5B | 22 | ||
| 2013 Q2 | 46 | $2.4B | 0 |
Holding changes this quarter
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|
Filing History
FAQ
What is Armstrong Shaw Associates Inc/ct and what type of investor is it?
Armstrong Shaw Associates Inc/ct is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2023-09-30), the firm manages a tracked equity portfolio valued at approximately $95.2M, spread across 44 disclosed positions.
What are Armstrong Shaw Associates Inc/ct's largest equity positions?
Based on the latest 13F filing, Armstrong Shaw Associates Inc/ct's top holdings by market value are:
1. Microsoft CORP (MSFT) — $11.7M (12.3%)
2. Berkshire Hathaway Inc-cl A (BRK-A) — $10.6M (11.2%)
3. Apple Inc (AAPL) — $8.1M (8.5%)
4. Alphabet Inc-cl C (GOOG) — $6.5M (6.8%)
5. Unitedhealth Group Inc (UNH) — $6.2M (6.5%)
What changes did Armstrong Shaw Associates Inc/ct make in its most recent portfolio filing?
No notable portfolio changes were recorded for Armstrong Shaw Associates Inc/ct in the most recent quarter. Holdings appear to have remained relatively stable.
What sectors does Armstrong Shaw Associates Inc/ct focus on?
Armstrong Shaw Associates Inc/ct is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 26.7%
• Health Care: 20.5%
• Financials: 12.2%
• Communication Services: 11.3%
• Consumer Discretionary: 7.7%
• Energy: 7.0%
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Investment Profile
Armstrong Shaw Associates Inc/ct returned an annualized 17.1% over the trailing 36 months — underperforming the S&P 500 by 0.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.85 (less volatile than the market) and a 36% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
It has added to its BRK-A position over the past two quarters (+$1.3M, now $10.6M), while trimming CZR over the same stretch (-$1.1M, still holding $1.6M).
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