HC
Horan Capital Management Historical SEC 13F Holdings & Archive (Q4 2020)
Horan Capital ManagementCIK: 0001269134
Momentum followerQuality / disciplined sizingDiversified strategy
Total reported value
$794.3M
Reporting period: 2020-12-31 · Number of holdings: 35
HORAN CAPITAL MANAGEMENT disclosed 35 holdings in its latest 13F filing for the period ending 2020-12-31, with total reported value of $794.3M and a quarterly turnover rate of 19.2%.
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Personality snowflake
- Concentration
- 19.38
- Portfolio Stability
- 19.21
- Momentum
- 100
- Sector conviction
- 75.98
- Diversification
- 70
- Sizing Uniformity
- 91.54
Horan Capital Management's disclosed holdings carry a Herfindahl concentration index of 0.048 — mathematically equivalent to about 21 equally-sized positions, close to its 35 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.85), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
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.govAdd SPGI
+193.4% $15.4M
Trim AMZN
-0.7% $1.8M
Trim META
-0.7% $1.7M
Trim BRK-B
-7.8% $144.0K
Trim MSFT
+0.0% $2.9M
Add BKNG
+0.6% $11.1M
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 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 8.48% | -1.17% | -0.72% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 6.95% | -0.23% | -1.19% | |
| 3 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 6.78% | +0.11% | -0.30% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 6.65% | -0.70% | +0.01% | |
| 5 | V | Visa Inc-class A Shares | Stock-Financials | 6.27% | -0.28% | +2.29% | |
| 6 | META | Meta Platforms Inc-class A | Stock-Comm Services | 6.12% | -0.78% | -0.70% | |
| 7 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 5.92% | +0.64% | +0.58% | |
| 8 | SBUX | Starbucks CORP | Stock-Consumer Disc | 5.39% | +0.23% | -1.99% | |
| 9 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 4.65% | -0.77% | -7.81% | |
| 10 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 4.39% | +0.19% | -0.24% | |
| 11 | ADSK | Autodesk Inc | Stock-Tech | 4.06% | +0.44% | -0.75% | |
| 12 | MTN | Vail Resorts Inc | Stock-Consumer Disc | 3.70% | +0.27% | -3.17% | |
| 13 | SPGI | S&p Global Inc | Stock-Financials | 3.10% | +1.74% | +193.38% | |
| 14 | ATVIEUR | Activision Blizzard Inc | Stock-Comm Services | 2.83% | -0.03% | +0.69% | |
| 15 | MA | Mastercard Inc - A | Stock-Financials | 2.66% | +2.66% | NEW | |
| 16 | ROP | Roper Technologies Inc | Stock-Tech | 2.65% | -0.12% | +2.43% | |
| 17 | ISTB | Ishares Core 1-5 Year Usd Bo | ETF-Other | 2.37% | -0.33% | +2.62% | |
| 18 | SCHZ | Schwab US Aggregate Bond ETF | ETF-Other | 2.26% | -0.42% | -1.36% | |
| 19 | DPZ | Domino's Pizza Inc | Stock-Consumer Disc | 2.06% | -0.48% | +5.04% | |
| 20 | BR | Broadridge Financial Solutio | Stock-Tech | 1.96% | -0.03% | -0.70% | |
| 21 | FICO | Fair Isaac CORP | Stock-Tech | 1.37% | +0.18% | +11.92% | |
| 22 | ACN | Accenture plc | Stock-Tech | 1.35% | -0.02% | +0.20% | |
| 23 | SCHP | Schwab U.s. Tips ETF | ETF-Other | 1.31% | -0.25% | -2.73% | |
| 24 | TTWO | Take-two Interactive Softwre | Stock-Comm Services | 1.25% | +1.25% | NEW | |
| 25 | DISCKUSD | Discovery Inc-c | Stock-Other | 1.22% | -0.58% | -40.64% | |
| 26 | HLT | Hilton Worldwide Holdings In | Stock-Consumer Disc | 1.18% | +0.09% | -3.07% | |
| 27 | VRSN | Verisign Inc | Stock-Tech | 1.05% | -0.08% | +2.54% | |
| 28 | NKE | Nike Inc -cl B | Stock-Consumer Disc | 0.61% | -0.02% | -0.17% | |
| 29 | SPAB | Ss Spdr P Agg Bond ETF | ETF-Other | 0.42% | -0.07% | -1.19% | |
| 30 | VRSK | Verisk Analytics Inc | Stock-Industrials | 0.40% | — | +4.16% | |
| 31 | UNP | Union Pacific CORP | Stock-Industrials | 0.15% | -0.01% | +3.68% | |
| 32 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.15% | -0.02% | — | |
| 33 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.13% | — | +3.94% | |
| 34 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.12% | -0.12% | -51.28% | |
| 35 | YUM | Yum! Brands Inc | Stock-Consumer Disc | 0.05% | +0.01% | +6.45% |
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2020 Q4 | 35 | $794.3M | 19 | ||
| 2020 Q3 | 35 | $679.4M | 14 | ||
| 2020 Q2 | 39 | $644.9M | 26 | ||
| 2020 Q1 | 44 | $532.9M | 29 | ||
| 2019 Q4 | 49 | $609.4M | 21 | ||
| 2019 Q3 | 56 | $559.8M | 22 | ||
| 2019 Q2 | 60 | $558.5M | 52 | ||
| 2019 Q1 | 64 | $541.8M | 55 | ||
| 2018 Q4 | 59 | $479.4M | 19 | ||
| 2018 Q3 | 64 | $543.2M | 29 | ||
| 2018 Q2 | 67 | $510.9M | 59 | ||
| 2018 Q1 | 57 | $460.9M | 27 | ||
| 2017 Q4 | 71 | $503.4M | 22 | ||
| 2017 Q3 | 65 | $481.2M | 50 | ||
| 2017 Q2 | 68 | $457.2M | 16 | ||
| 2017 Q1 | 81 | $438.9M | 22 | ||
| 2016 Q4 | 61 | $386.6M | 71 | ||
| 2016 Q3 | 55 | $376.8M | 43 | ||
| 2016 Q2 | 58 | $361.0M | 49 | ||
| 2016 Q1 | 59 | $360.7M | 21 | ||
| 2015 Q4 | 65 | $360.6M | 46 | ||
| 2015 Q3 | 69 | $341.1M | 52 | ||
| 2015 Q2 | 65 | $354.9M | 57 | ||
| 2015 Q1 | 56 | $354.4M | 27 | ||
| 2014 Q4 | 38 | $289.9M | 19 | ||
| 2014 Q3 | 38 | $295.9M | 9 | ||
| 2014 Q2 | 37 | $295.5M | 21 | ||
| 2014 Q1 | 35 | $289.8M | 13 | ||
| 2013 Q4 | 35 | $291.9M | 16 | ||
| 2013 Q3 | 33 | $263.1M | 7 | ||
| 2013 Q2 | 31 | $254.3M | 0 |
Holding changes this quarter
Horan Capital Management's most significant position changes for 2020-12-31: New buy: Mastercard Inc - A (MA); New buy: Take-two Interactive Softwre (TTWO); Sold out: Schwab (charles) CORP (SCHW); Sold out: Home Depot Inc (HD); Add: S&p Global Inc (SPGI) — shares +193.38%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPGI | S&p Global Inc | +1.7% | +193.38% | Add |
| 2 | BKNG | Booking Holdings Inc | +0.6% | +0.58% | Add |
| 3 | ADSK | Autodesk Inc | +0.4% | -0.75% | Trim |
| 4 | MTN | Vail Resorts Inc | +0.3% | -3.17% | Trim |
| 5 | SBUX | Starbucks CORP | +0.2% | -1.99% | Trim |
| 6 | TJX | Tjx Companies Inc | +0.2% | -0.24% | Trim |
| 7 | FICO | Fair Isaac CORP | +0.2% | +11.92% | Add |
| 8 | GOOG | Alphabet Inc-cl C | +0.1% | -0.30% | Trim |
| 9 | HLT | Hilton Worldwide Holdings In | +0.1% | -3.07% | Trim |
| 10 | YUM | Yum! Brands Inc | 0% | +6.45% | Add |
| 11 | VRSK | Verisk Analytics Inc | — | +4.16% | Add |
| 12 | IVV | Ishares Core S&p 500 ETF | — | +3.94% | Add |
| 13 | UNP | Union Pacific CORP | 0% | +3.68% | Add |
| 14 | ACN | Accenture plc | 0% | +0.20% | Add |
| 15 | NKE | Nike Inc -cl B | 0% | -0.17% | Trim |
| 16 | COST | Costco Wholesale CORP | 0% | — | Unchanged |
| 17 | ATVIEUR | Activision Blizzard Inc | 0% | +0.69% | Add |
| 18 | BR | Broadridge Financial Solutio | 0% | -0.70% | Trim |
| 19 | SPAB | Ss Spdr P Agg Bond ETF | -0.1% | -1.19% | Trim |
| 20 | VRSN | Verisign Inc | -0.1% | +2.54% | Add |
| 21 | ROP | Roper Technologies Inc | -0.1% | +2.43% | Add |
| 22 | GOOGL | Alphabet Inc-cl A | -0.1% | -51.28% | Trim |
| 23 | AAPL | Apple Inc | -0.2% | -1.19% | Trim |
| 24 | SCHP | Schwab U.s. Tips ETF | -0.3% | -2.73% | Trim |
| 25 | V | Visa Inc-class A Shares | -0.3% | +2.29% | Add |
| 26 | ISTB | Ishares Core 1-5 Year Usd Bo | -0.3% | +2.62% | Add |
| 27 | SCHZ | Schwab US Aggregate Bond ETF | -0.4% | -1.36% | Trim |
| 28 | DPZ | Domino's Pizza Inc | -0.5% | +5.04% | Add |
| 29 | DISCKUSD | Discovery Inc-c | -0.6% | -40.64% | Trim |
| 30 | MSFT | Microsoft CORP | -0.7% | +0.01% | Add |
| 31 | BRK-B | Berkshire Hathaway Inc-cl B | -0.8% | -7.81% | Trim |
| 32 | META | Meta Platforms Inc-class A | -0.8% | -0.70% | Trim |
| 33 | AMZN | Amazon.com Inc | -1.2% | -0.72% | Trim |
| 34 | MA | Mastercard Inc - A | — | NEW | New buy |
| 35 | TTWO | Take-two Interactive Softwre | — | NEW | New buy |
| 36 | SCHW | Schwab (charles) CORP | — | EXIT | Sold out |
| 37 | HD | Home Depot Inc | — | EXIT | Sold out |
Filing History
FAQ
What is Horan Capital Management and what type of investor is it?
Horan Capital Management 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 (2020-12-31), the firm manages a tracked equity portfolio valued at approximately $794.3M, spread across 35 disclosed positions.
What are Horan Capital Management's largest equity positions?
Based on the latest 13F filing, Horan Capital Management's top holdings by market value are:
1. Amazon.com Inc (AMZN) — $67.4M (8.5%)
2. Apple Inc (AAPL) — $55.2M (7.0%)
3. Alphabet Inc-cl C (GOOG) — $53.8M (6.8%)
4. Microsoft CORP (MSFT) — $52.8M (6.7%)
5. Visa Inc-class A Shares (V) — $49.8M (6.3%)
What changes did Horan Capital Management make in its most recent portfolio filing?
In the latest reported quarter, Horan Capital Management made 36 notable position adjustments: 2 new positions were initiated, 15 existing holdings were added to, 17 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Mastercard Inc - A (MA); New buy: Take-two Interactive Softwre (TTWO); Sold out: Schwab (charles) CORP (SCHW); Sold out: Home Depot Inc (HD); Add: S&p Global Inc (SPGI) — shares +193.38%
What sectors does Horan Capital Management focus on?
Horan Capital Management is concentrated in the following sectors based on its current disclosed equity portfolio:
• Consumer Discretionary: 30.9%
• Information Technology: 24.5%
• Communication Services: 22.4%
• Financials: 21.8%
• Industrials: 0.2%
• Consumer Staples: 0.2%
Investment Profile
Horan Capital Management's portfolio is broadly diversified and long-term-holding, with 30.9% of the portfolio concentrated in Consumer Discretionary.
It has added to its BKNG position over the past two quarters (+$14.0M, now $47.0M), while trimming DISCKUSD over the same stretch (-$4.3M, still holding $9.7M).
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