CIK: 0001221362
Total reported value
$3.7B
Reporting period: 2023-03-31 · Number of holdings: 309
Avalon Investment & Advisory disclosed 309 holdings in its latest 13F filing for the period ending 2023-03-31, with total reported value of $3.7B and a quarterly turnover rate of 0.0%.
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Avalon Investment & Advisory's disclosed holdings carry a Herfindahl concentration index of 0.012 — mathematically equivalent to about 84 equally-sized positions, well below its 309 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 1.64), 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.
Sector classification currently covers about 59% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
No holding changes this quarter
Showing top 200 holdings (of 309 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | LRCXEUR | Lam Research CORP | Stock-Tech | 3.26% | — | -2.43% | |
| 2 | AAPL | Apple INC | Stock-Tech | 3.06% | — | +11.56% | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.65% | — | +15.42% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 2.58% | — | +19.21% | |
| 5 | CVX | Chevron CORP | Stock-Energy | 2.25% | — | -1.57% | |
| 6 | UNH | Unitedhealth Group INC | Stock-Healthcare | 2.16% | — | -1.98% | |
| 7 | MRK | Merck & Co. INC. | Stock-Healthcare | 2.15% | — | -2.60% | |
| 8 | TXN | Texas Instruments INC | Stock-Tech | 2.08% | — | -2.17% | |
| 9 | CMI | Cummins INC | Stock-Industrials | 1.92% | — | -24.80% | |
| 10 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.89% | — | +28.29% | |
| 11 | MS | Morgan Stanley | Stock-Financials | 1.83% | — | -2.92% | |
| 12 | PEP | Pepsico INC | Stock-Consumer Staples | 1.75% | — | -0.53% | |
| 13 | VNT | Vontier CORP | Stock-Tech | 1.71% | — | +43.43% | |
| 14 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.69% | — | -0.69% | |
| 15 | CALM | Cal-maine Foods INC | Stock-Consumer Staples | 1.35% | — | -2.59% | |
| 16 | ACN | Accenture plc | Stock-Tech | 1.35% | — | -1.93% | |
| 17 | PSX | Phillips 66 | Stock-Energy | 1.34% | — | -4.21% | |
| 18 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.32% | — | -4.74% | |
| 19 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.30% | — | -3.91% | |
| 20 | KMX | Carmax INC | Stock-Consumer Disc | 1.29% | — | — | |
| 21 | WFC | Wells Fargo & Co | Stock-Financials | 1.28% | — | -2.47% | |
| 22 | BN | Brookfield CORP | Stock-Financials | 1.28% | — | +47.20% | |
| 23 | LMT | Lockheed Martin CORP | Stock-Industrials | 1.24% | — | -19.85% | |
| 24 | HD | Home Depot INC | Stock-Consumer Disc | 1.21% | — | -4.38% | |
| 25 | CHRW | C.h. Robinson Worldwide INC | Stock-Industrials | 1.20% | — | -2.62% | |
| 26 | EMR | Emerson Electric Co | Stock-Industrials | 1.20% | — | -2.75% | |
| 27 | DFSEUR | Discover Financial Services | Stock-Other | 1.17% | — | -3.02% | |
| 28 | UPS | United Parcel Service-cl B | Stock-Industrials | 1.17% | — | -1.89% | |
| 29 | TROW | T Rowe Price Group INC | Stock-Financials | 1.16% | — | -2.07% | |
| 30 | ABBV | Abbvie INC | Stock-Healthcare | 1.09% | — | -2.06% | |
| 31 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.07% | — | +111.53% | |
| 32 | NOVAQ | Sunnova Energy International | Stock-Other | 0.97% | — | — | |
| 33 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.95% | — | +45.61% | |
| 34 | TGT | Target CORP | Stock-Consumer Disc | 0.93% | — | -2.74% | |
| 35 | AVGO | Broadcom INC | Stock-Tech | 0.90% | — | -2.96% | |
| 36 | LIN | Linde plc | Stock-Materials | 0.88% | — | — | |
| 37 | JMBS | Janus Henderson Mortg Backed | ETF-Other | 0.85% | — | +21.99% | |
| 38 | NVDA | Nvidia CORP | Stock-Tech | 0.84% | — | +14.17% | |
| 39 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.81% | — | -2.50% | |
| 40 | XOM | Exxon Mobil CORP | Stock-Energy | 0.69% | — | +188.83% | |
| 41 | BAC | Bank Of America CORP | Stock-Financials | 0.69% | — | -23.90% | |
| 42 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 0.68% | — | — | |
| 43 | AMGN | Amgen INC | Stock-Healthcare | 0.68% | — | +7.12% | |
| 44 | MBB | Ishares Mbs ETF | ETF-Other | 0.67% | — | +24.54% | |
| 45 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.66% | — | +9.36% | |
| 46 | FISV | Fiserv INC | Stock-Other | 0.66% | — | -1.08% | |
| 47 | PFE | Pfizer INC | Stock-Healthcare | 0.65% | — | +41.21% | |
| 48 | VLO | Valero Energy CORP | Stock-Energy | 0.62% | — | -2.14% | |
| 49 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.58% | — | -2.42% | |
| 50 | GILD | Gilead Sciences INC | Stock-Healthcare | 0.57% | — | -35.28% |
Performance for Q3 2026
+4.3%
Performance Last 4 Quarters
+26.7%
Based on 70% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2023-03-31 | 309 | $3.7B | 0 | |
| 2022-12-31 | 314 | $3.5B | 0 | |
| 2022-09-30 | 287 | $3.2B | 0 | |
| 2022-06-30 | 309 | $3.5B | 0 | |
| 2022-03-31 | 320 | $4.1B | 0 | |
| 2021-12-31 | 300 | $4.1B | 0 | |
| 2021-09-30 | 335 | $4.3B | 0 | |
| 2021-06-30 | 350 | $4.5B | 98 | |
| 2021-03-31 | 341 | $4.4B | 42 | |
| 2020-12-31 | 333 | $4.9B | 18 | |
| 2020-09-30 | 322 | $4.5B | 19 | |
| 2020-06-30 | 302 | $4.3B | 26 | |
| 2020-03-31 | 301 | $3.9B | 45 | |
| 2019-12-31 | 326 | $4.9B | 23 | |
| 2019-09-30 | 305 | $4.5B | 15 | |
| 2019-06-30 | 317 | $4.5B | 22 | |
| 2019-03-31 | 330 | $4.4B | 35 | |
| 2018-12-31 | 304 | $3.9B | 54 | |
| 2018-09-30 | 345 | $3.6B | 28 | |
| 2018-06-30 | 562 | $3.4B | 21 | |
| 2018-03-31 | 570 | $3.2B | 20 | |
| 2017-12-31 | 592 | $3.2B | 19 | |
| 2017-09-30 | 358 | $3.1B | 88 | |
| 2017-06-30 | 390 | $3.0B | 19 | |
| 2017-03-31 | 348 | $2.9B | 30 | |
| 2016-12-31 | 330 | $2.8B | 19 | |
| 2016-09-30 | 303 | $2.7B | 27 | |
| 2016-06-30 | 282 | $2.6B | 39 | |
| 2016-03-31 | 257 | $2.3B | 39 | |
| 2015-12-31 | 250 | $2.3B | 30 | |
| 2015-09-30 | 245 | $2.3B | 28 | |
| 2015-06-30 | 254 | $2.3B | 17 | |
| 2015-03-31 | 232 | $2.3B | 25 | |
| 2014-12-31 | 225 | $2.2B | 45 | |
| 2014-09-30 | 191 | $2.0B | 12 | |
| 2014-06-30 | 181 | $2.0B | 30 | |
| 2014-03-31 | 171 | $1.8B | 16 | |
| 2013-12-31 | 178 | $1.8B | 28 | |
| 2013-09-30 | 185 | $1.5B | 19 | |
| 2013-06-30 | 186 | $1.7B | 0 |
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-01 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-10 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-17 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-08 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-29 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-13 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-08 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-04 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-10 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-05 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-24 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-06-26 | Amendment | View on EDGAR |
| 2018-03-31 | 2018-06-22 | Amendment | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-06-22 | Amendment | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-17 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-14 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-18 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-12 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-12 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-26 | Amendment | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-12 | 13F-HR | View on EDGAR |
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