Laurel Grove Capital, LLC — AI-Powered 13F Analysis

CIK: 0001387978

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$197.5M

Reporting period: 2018-09-30 · Number of holdings: 93

Laurel Grove Capital, LLC disclosed 93 holdings in its latest 13F filing for the period ending 2018-09-30, with total reported value of $197.5M and a quarterly turnover rate of 21.0%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "L"

Personality snowflake

Concentration: 9.26
Portfolio Stability: 20.95
Momentum/Contrarian: 100
Sector conviction: 46.18
Diversification: 100
Sizing Uniformity: 89.2

Laurel Grove Capital, LLC's disclosed holdings carry a Herfindahl concentration index of 0.023 — mathematically equivalent to about 43 equally-sized positions, well below its 93 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.08), 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.

Recent moves

Trim DD
-82.7%　-$3.7M
Add BLKCHF
+381.7%　$3.9M
Add NOC
+204.3%　$1.7M
Trim 90333l201
-55.4%　-$1.3M
Trim META
-1.1%　-$1.0M
Add AAPL
-2.5%　$1.6M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	5.22%	+0.30%	-3.17%
2	AAPL	Apple INC	Stock-Tech	5.04%	+0.60%	-2.52%
3	LMT	Lockheed Martin CORP	Stock-Industrials	4.36%	+0.33%	-3.02%
4	AMZN	Amazon.com INC	Stock-Consumer Disc	4.14%	+0.32%	-3.43%
5	GOOG	Alphabet Inc-cl C	Stock-Comm Services	3.78%	-0.06%	-3.44%
6	✓	Booking Holdings Inc.	Stock-Other	2.92%	-0.30%	-2.81%
7	✓	FedEx Corporation	Stock-Other	2.89%	+0.29%	+10.07%
8	DIS	Walt Disney Co/the	Stock-Comm Services	2.83%	+0.11%	-2.25%
9	WAB	Wabtec CORP	Stock-Industrials	2.75%	—	-4.51%
10	UNP	Union Pacific CORP	Stock-Industrials	2.75%	+0.10%	-5.11%
11	NKE	Nike INC -cl B	Stock-Consumer Disc	2.73%	—	-4.21%
12	META	Meta Platforms Inc-class A	Stock-Comm Services	2.69%	-0.68%	-1.05%
13	BLKCHF	Blackrock INC	Stock-Other	2.51%	+1.93%	+381.75%
14	MA	Mastercard INC - A	Stock-Financials	2.49%	+0.05%	-5.56%
15	JPM	Jpmorgan Chase & Co	Stock-Financials	2.34%	—	-6.61%
16	HON	Honeywell International INC	Stock-Industrials	2.27%	+0.22%	+0.56%
17	SHW	Sherwin-williams Co/the	Stock-Materials	2.14%	+0.10%	-1.59%
18	CMI	Cummins INC	Stock-Industrials	2.13%	+0.05%	-1.89%
19	INTC	Intel CORP	Stock-Tech	2.07%	+0.49%	+44.02%
20	PSX	Phillips 66	Stock-Energy	1.93%	—	-1.17%
21	PEP	Pepsico INC	Stock-Consumer Staples	1.89%	—	-4.70%
22	JNJ	Johnson & Johnson	Stock-Healthcare	1.49%	+0.05%	-4.69%
23	C	Citigroup INC	Stock-Financials	1.43%	—	-8.99%
24	BA	Boeing Co/the	Stock-Industrials	1.34%	+0.06%	-0.70%
25	AABAUSD	Altaba INC	Stock-Other	1.29%	+0.44%	+71.23%
26	NOC	Northrop Grumman CORP	Stock-Industrials	1.25%	+0.83%	+204.31%
27	AMT	American Tower CORP	Stock-Real Estate	1.23%	—	-1.76%
28	AVGO	Broadcom INC	Stock-Tech	1.21%	-0.49%	-26.29%
29	BRK-A	Berkshire Hathaway Inc-cl A	Stock-Other	1.13%	+0.08%	—
30	CVX	Chevron CORP	Stock-Energy	1.11%	—	+6.88%
31	SBUX	Starbucks CORP	Stock-Consumer Disc	1.00%	+0.01%	-8.41%
32	FSC1EUR	Oaktree Specialty Lending Co	Stock-Other	0.93%	—	+3.10%
33	✓	Accenture plc	Stock-Other	0.93%	—	-6.50%
34	LII	Lennox International INC	Stock-Industrials	0.91%	+0.91%	NEW
35	GD	General Dynamics CORP	Stock-Industrials	0.90%	+0.04%	-0.58%
36	BAC	Bank of America Corporation	Stock-Financials	0.87%	—	-10.07%
37	LUV	Southwest Airlines Co	Stock-Industrials	0.84%	+0.48%	+101.14%
38	THO	Thor Industries INC	Stock-Consumer Disc	0.77%	-0.20%	-3.45%
39	MSFT	Microsoft CORP	Stock-Tech	0.75%	+0.10%	+4.69%
40	TIFEUR	Tiffany & Co	Stock-Other	0.74%	-0.12%	-8.13%
41	TJX	Tjx Companies INC	Stock-Consumer Disc	0.69%	+0.07%	—
42	HD	Home Depot INC	Stock-Consumer Disc	0.69%	—	—
43	PNC	Pnc Financial Services Group	Stock-Financials	0.66%	-0.29%	-28.30%
44	WDAY	Workday Inc-class A	Stock-Tech	0.59%	+0.59%	NEW
45	CMCSA	Comcast Corp-class A	Stock-Comm Services	0.58%	—	-13.56%
46	SYK	Stryker CORP	Stock-Healthcare	0.54%	+0.05%	+9.09%
47	WFC	Wells Fargo & Co	Stock-Financials	0.54%	—	+17.39%
48	MCD	Mcdonald's CORP	Stock-Consumer Disc	0.54%	—	+1.60%
49	ICE	Intercontinental Exchange In	Stock-Financials	0.54%	—	—
50	STWD	Starwood Property Trust INC	Stock-Real Estate	0.53%	—	-2.00%

1–50 of 93

Portfolio Performance

Not enough priced holdings yet to compute performance

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2018-09-30	93	$197.5M	21	1BRK-B 2AAPL 3LMT Top holdings2018-09-30 1.BRK-B 2.AAPL 3.LMT 4.AMZN 5.GOOG 6.09857l 7.31428x 8.DIS 9.WAB 10.UNP
2018-06-30	92	$188.4M	19	1BRK-B 2AAPL 3LMT Top holdings2018-06-30 1.BRK-B 2.AAPL 3.LMT 4.GOOG 5.AMZN 6.META 7.09857l 8.WAB 9.NKE 10.DIS
2018-03-31	94	$186.1M	26	1BRK-B 2LMT 3AAPL Top holdings2018-03-31 1.BRK-B 2.LMT 3.AAPL 4.GOOG 5.09857l 6.AMZN 7.META 8.UNP 9.DIS 10.JPM
2017-12-31	97	$193.2M	18	1BRK-B 2AAPL 3LMT Top holdings2017-12-31 1.BRK-B 2.AAPL 3.LMT 4.GOOG 5.META 6.AMZN 7.BKNG 8.DIS 9.UNP 10.JPM
2017-09-30	101	$192.2M	21	1BRK-B 2AAPL 3LMT Top holdings2017-09-30 1.BRK-B 2.AAPL 3.LMT 4.GOOG 5.META 6.BKNG 7.DIS 8.AMZN 9.WAB 10.JPM
2017-06-30	97	$188.9M	15	1BRK-B 2AAPL 3LMT Top holdings2017-06-30 1.BRK-B 2.AAPL 3.LMT 4.GOOG 5.BKNG 6.META 7.WAB 8.DIS 9.AMZN 10.NKE
2017-03-31	94	$189.8M	12	1BRK-B 2AAPL 3LMT Top holdings2017-03-31 1.BRK-B 2.AAPL 3.LMT 4.BKNG 5.DIS 6.GOOG 7.META 8.AMZN 9.WAB 10.PEP
2016-12-31	99	$183.6M	15	1BRK-B 2AAPL 3LMT Top holdings2016-12-31 1.BRK-B 2.AAPL 3.LMT 4.GOOG 5.DIS 6.BKNG 7.WAB 8.META 9.74460d 10.AMZN
2016-09-30	96	$175.0M	12	1BRK-B 2AAPL 3LMT Top holdings2016-09-30 1.BRK-B 2.AAPL 3.LMT 4.GOOG 5.BKNG 6.DIS 7.META 8.WAB 9.PEP 10.AMZN
2016-06-30	97	$166.4M	20	1BRK-B 2LMT 3AAPL Top holdings2016-06-30 1.BRK-B 2.LMT 3.AAPL 4.DIS 5.GOOG 6.BKNG 7.META 8.VZ 9.WAB 10.PEP
2016-03-31	98	$176.0M	23	1BRK-B 2AAPL 3LMT Top holdings2016-03-31 1.BRK-B 2.AAPL 3.LMT 4.DIS 5.GOOG 6.WAB 7.BKNG 8.META 9.VZ 10.PEP
2015-12-31	96	$177.9M	24	1BRK-B 2AAPL 3LMT Top holdings2015-12-31 1.BRK-B 2.AAPL 3.LMT 4.38259P 5.DIS 6.META 7.WAB 8.PEP 9.G0177J 10.BKNG
2015-09-30	103	$174.7M	30	1BRK-B 2AAPL 3LMT Top holdings2015-09-30 1.BRK-B 2.AAPL 3.LMT 4.WAB 5.DIS 6.38259P 7.PEP 8.BKNG 9.MIDD 10.META
2015-06-30	104	$187.8M	20	1AAPL 2BRK-B 3WAB Top holdings2015-06-30 1.AAPL 2.BRK-B 3.WAB 4.VALE 5.MIDD 6.LMT 7.DUK 8.CVX 9.PEP 10.AIG
2015-03-31	105	$187.0M	29	1AAPL 2BRK-B 3WAB Top holdings2015-03-31 1.AAPL 2.BRK-B 3.WAB 4.87162H 5.DUK 6.LMT 7.VALE 8.CVX 9.MIDD 10.PEP
2014-12-31	95	$175.2M	15	1BRK-B 2AAPL 3DUK Top holdings2014-12-31 1.BRK-B 2.AAPL 3.DUK 4.WAB 5.LMT 6.87162H 7.CVX 8.018490 9.MIDD 10.PEP
2014-09-30	92	$183.6M	19	1BRK-B 2AAPL 3DUK Top holdings2014-09-30 1.BRK-B 2.AAPL 3.DUK 4.WAB 5.CVX 6.LMT 7.87162H 8.PEP 9.740189 10.MIDD
2014-06-30	94	$180.5M	15	1BRK-B 2AAPL 3CVX Top holdings2014-06-30 1.BRK-B 2.AAPL 3.CVX 4.WAB 5.DUK 6.YUM 7.PEP 8.87162H 9.MCD 10.966387
2014-03-31	92	$166.3M	25	1BRK-B 2AAPL 3DUK Top holdings2014-03-31 1.BRK-B 2.AAPL 3.DUK 4.WAB 5.CVX 6.YUM 7.MCD 8.PEP 9.CNI 10.MIDD
2013-12-31	94	$169.1M	21	1BRK-B 2AAPL 3CVX Top holdings2013-12-31 1.BRK-B 2.AAPL 3.CVX 4.DUK 5.WAB 6.YUM 7.92857w 8.MCD 9.CNI 10.STWD
2013-09-30	95	$150.9M	26	1BRK-B 2AAPL 3CVX Top holdings2013-09-30 1.BRK-B 2.AAPL 3.CVX 4.DUK 5.MCD 6.WAB 7.IBM 8.92857w 9.YUM 10.PEP
2013-06-30	96	$140.6M	0	1BRK-B 2CVX 3AAPL Top holdings2013-06-30 1.BRK-B 2.CVX 3.AAPL 4.MCD 5.IBM 6.DUK 7.PEP 8.30231g 9.YUM 10.92857w

Holding changes this quarter

Laurel Grove Capital, LLC's most significant position changes for 2018-09-30: Sold out: Abbvie INC (ABBV); New buy: Lennox International INC (LII); Sold out: AT & T, Inc. New; New buy: Workday Inc-class A (WDAY); Sold out: Jd.com Inc-adr (JD).

Position changes disclosed by Laurel Grove Capital, LLC for the quarter ending 2018-09-30, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	BLKCHF	Blackrock INC	+1.9%	+381.75%	Add
2	NOC	Northrop Grumman CORP	+0.8%	+204.31%	Add
3	AAPL	Apple INC	+0.6%	-2.52%	Trim
4	INTC	Intel CORP	+0.5%	+44.02%	Add
5	LUV	Southwest Airlines Co	+0.5%	+101.14%	Add
6	AABAUSD	Altaba INC	+0.4%	+71.23%	Add
7	LMT	Lockheed Martin CORP	+0.3%	-3.02%	Trim
8	AMZN	Amazon.com INC	+0.3%	-3.43%	Trim
9	BRK-B	Berkshire Hathaway Inc-cl B	+0.3%	-3.17%	Trim
10	✓	FedEx Corporation	+0.3%	+10.07%	Add
11	HON	Honeywell International INC	+0.2%	+0.56%	Add
12	DIS	Walt Disney Co/the	+0.1%	-2.25%	Trim
13	RLGT	Radiant Logistics INC	+0.1%	-6.45%	Trim
14	UNP	Union Pacific CORP	+0.1%	-5.11%	Trim
15	SHW	Sherwin-williams Co/the	+0.1%	-1.59%	Trim
16	MSFT	Microsoft CORP	+0.1%	+4.69%	Add
17	ROG	Rogers CORP	+0.1%	—	Unchanged
18	BRK-A	Berkshire Hathaway Inc-cl A	+0.1%	—	Unchanged
19	TJX	Tjx Companies INC	+0.1%	—	Unchanged
20	BA	Boeing Co/the	+0.1%	-0.70%	Trim
21	MA	Mastercard INC - A	+0.1%	-5.56%	Trim
22	CMI	Cummins INC	+0.1%	-1.89%	Trim
23	JNJ	Johnson & Johnson	+0.1%	-4.69%	Trim
24	CSCO	Cisco Systems INC	+0.1%	+4.77%	Add
25	SYK	Stryker CORP	+0.1%	+9.09%	Add
26	GD	General Dynamics CORP	0%	-0.58%	Trim
27	SBUX	Starbucks CORP	0%	-8.41%	Trim
28	GOOG	Alphabet Inc-cl C	-0.1%	-3.44%	Trim
29	PXDEUR	Pioneer Natural Resources Co	-0.1%	-11.94%	Trim
30	✓	Exxon Mobil Corporation	-0.1%	-23.16%	Trim
31	ENB	Enbridge INC	-0.1%	-30.40%	Trim
32	MIDD	Middleby CORP	-0.1%	-45.97%	Trim
33	TIFEUR	Tiffany & Co	-0.1%	-8.13%	Trim
34	BAC	Bank Of America CORP	-0.2%	-58.60%	Trim
35	THO	Thor Industries INC	-0.2%	-3.45%	Trim
36	PNC	Pnc Financial Services Group	-0.3%	-28.30%	Trim
37	✓	Booking Holdings Inc.	-0.3%	-2.81%	Trim
38	AVGO	Broadcom INC	-0.5%	-26.29%	Trim
39	META	Meta Platforms Inc-class A	-0.7%	-1.05%	Trim
40	✓	U.S. Concrete Inc.	-0.7%	-55.45%	Trim
41	DD	DuPont de Nemours, Inc.	-2%	-82.71%	Trim
42	ABBV	Abbvie INC	—	EXIT	Sold out
43	LII	Lennox International INC	—	NEW	New buy
44	✓	AT & T, Inc. New	—	EXIT	Sold out
45	WDAY	Workday Inc-class A	—	NEW	New buy
46	JD	Jd.com Inc-adr	—	EXIT	Sold out
47	WTBA	West Bancorporation	—	NEW	New buy
48	✓		—	NEW	New buy
49	✓	Air Lease CORP	—	EXIT	Sold out
50	PG	Procter & Gamble Co/the	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2018-09-30	2018-10-12	13F-HR	View on EDGAR
2018-06-30	2018-07-13	13F-HR	View on EDGAR
2018-03-31	2018-04-11	13F-HR	View on EDGAR
2017-12-31	2018-01-23	13F-HR	View on EDGAR
2017-09-30	2017-10-12	13F-HR	View on EDGAR
2017-06-30	2017-07-11	13F-HR	View on EDGAR
2017-03-31	2017-04-11	13F-HR	View on EDGAR
2016-12-31	2017-01-11	13F-HR	View on EDGAR
2016-09-30	2016-10-17	13F-HR	View on EDGAR
2016-06-30	2016-07-20	13F-HR	View on EDGAR
2016-03-31	2016-04-18	13F-HR	View on EDGAR
2015-12-31	2016-01-15	13F-HR	View on EDGAR
2015-09-30	2015-10-14	13F-HR	View on EDGAR
2015-06-30	2015-07-14	13F-HR	View on EDGAR
2015-03-31	2015-04-14	13F-HR	View on EDGAR
2014-12-31	2015-01-12	13F-HR	View on EDGAR
2014-09-30	2014-10-08	13F-HR	View on EDGAR
2014-06-30	2014-07-15	13F-HR	View on EDGAR
2014-03-31	2014-04-23	13F-HR	View on EDGAR
2013-12-31	2014-01-29	13F-HR	View on EDGAR
2013-09-30	2013-10-11	13F-HR	View on EDGAR
2013-06-30	2013-07-16	13F-HR	View on EDGAR

FAQ

What is Laurel Grove Capital, LLC and what type of investor is it?

Laurel Grove Capital, LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2018-09-30), the firm manages a tracked equity portfolio valued at approximately $197.5M, spread across 93 disclosed positions.

What are Laurel Grove Capital, LLC's largest equity positions?

Based on the latest 13F filing, Laurel Grove Capital, LLC's top holdings by market value are: 1. Berkshire Hathaway Inc-cl B (BRK-B) — $10.3M (5.2%) 2. Apple INC (AAPL) — $10.0M (5.0%) 3. Lockheed Martin CORP (LMT) — $8.6M (4.4%) 4. Amazon.com INC (AMZN) — $8.2M (4.1%) 5. Alphabet Inc-cl C (GOOG) — $7.5M (3.8%)

What changes did Laurel Grove Capital, LLC make in its most recent portfolio filing?

In the latest reported quarter, Laurel Grove Capital, LLC made 47 notable position adjustments: 5 new positions were initiated, 10 existing holdings were added to, 28 positions were partially reduced, and 4 were completely exited. The largest of these moves: Sold out: Abbvie INC (ABBV); New buy: Lennox International INC (LII); Sold out: AT & T, Inc. New; New buy: Workday Inc-class A (WDAY); Sold out: Jd.com Inc-adr (JD)

What sectors does Laurel Grove Capital, LLC focus on?

Laurel Grove Capital, LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Industrials: 20.5% • Financials: 18.6% • Consumer Discretionary: 17.1% • Information Technology: 14.7% • Communication Services: 14.5% • Energy: 4.7%

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Laurel Grove Capital, LLC — AI-Powered 13F Analysis

CIK: 0001387978

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$197.5M

Reporting period: 2018-09-30 · Number of holdings: 93

Laurel Grove Capital, LLC disclosed 93 holdings in its latest 13F filing for the period ending 2018-09-30, with total reported value of $197.5M and a quarterly turnover rate of 21.0%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "L"

Personality snowflake

Concentration: 9.26
Portfolio Stability: 20.95
Momentum/Contrarian: 100
Sector conviction: 46.18
Diversification: 100
Sizing Uniformity: 89.2

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.08), 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.

Recent moves

Trim DD
-82.7%　-$3.7M
Add BLKCHF
+381.7%　$3.9M
Add NOC
+204.3%　$1.7M
Trim 90333l201
-55.4%　-$1.3M
Trim META
-1.1%　-$1.0M
Add AAPL
-2.5%　$1.6M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	5.22%	+0.30%	-3.17%
2	AAPL	Apple INC	Stock-Tech	5.04%	+0.60%	-2.52%
3	LMT	Lockheed Martin CORP	Stock-Industrials	4.36%	+0.33%	-3.02%
4	AMZN	Amazon.com INC	Stock-Consumer Disc	4.14%	+0.32%	-3.43%
5	GOOG	Alphabet Inc-cl C	Stock-Comm Services	3.78%	-0.06%	-3.44%
6	✓	Booking Holdings Inc.	Stock-Other	2.92%	-0.30%	-2.81%
7	✓	FedEx Corporation	Stock-Other	2.89%	+0.29%	+10.07%
8	DIS	Walt Disney Co/the	Stock-Comm Services	2.83%	+0.11%	-2.25%
9	WAB	Wabtec CORP	Stock-Industrials	2.75%	—	-4.51%
10	UNP	Union Pacific CORP	Stock-Industrials	2.75%	+0.10%	-5.11%
11	NKE	Nike INC -cl B	Stock-Consumer Disc	2.73%	—	-4.21%
12	META	Meta Platforms Inc-class A	Stock-Comm Services	2.69%	-0.68%	-1.05%
13	BLKCHF	Blackrock INC	Stock-Other	2.51%	+1.93%	+381.75%
14	MA	Mastercard INC - A	Stock-Financials	2.49%	+0.05%	-5.56%
15	JPM	Jpmorgan Chase & Co	Stock-Financials	2.34%	—	-6.61%
16	HON	Honeywell International INC	Stock-Industrials	2.27%	+0.22%	+0.56%
17	SHW	Sherwin-williams Co/the	Stock-Materials	2.14%	+0.10%	-1.59%
18	CMI	Cummins INC	Stock-Industrials	2.13%	+0.05%	-1.89%
19	INTC	Intel CORP	Stock-Tech	2.07%	+0.49%	+44.02%
20	PSX	Phillips 66	Stock-Energy	1.93%	—	-1.17%
21	PEP	Pepsico INC	Stock-Consumer Staples	1.89%	—	-4.70%
22	JNJ	Johnson & Johnson	Stock-Healthcare	1.49%	+0.05%	-4.69%
23	C	Citigroup INC	Stock-Financials	1.43%	—	-8.99%
24	BA	Boeing Co/the	Stock-Industrials	1.34%	+0.06%	-0.70%
25	AABAUSD	Altaba INC	Stock-Other	1.29%	+0.44%	+71.23%
26	NOC	Northrop Grumman CORP	Stock-Industrials	1.25%	+0.83%	+204.31%
27	AMT	American Tower CORP	Stock-Real Estate	1.23%	—	-1.76%
28	AVGO	Broadcom INC	Stock-Tech	1.21%	-0.49%	-26.29%
29	BRK-A	Berkshire Hathaway Inc-cl A	Stock-Other	1.13%	+0.08%	—
30	CVX	Chevron CORP	Stock-Energy	1.11%	—	+6.88%
31	SBUX	Starbucks CORP	Stock-Consumer Disc	1.00%	+0.01%	-8.41%
32	FSC1EUR	Oaktree Specialty Lending Co	Stock-Other	0.93%	—	+3.10%
33	✓	Accenture plc	Stock-Other	0.93%	—	-6.50%
34	LII	Lennox International INC	Stock-Industrials	0.91%	+0.91%	NEW
35	GD	General Dynamics CORP	Stock-Industrials	0.90%	+0.04%	-0.58%
36	BAC	Bank of America Corporation	Stock-Financials	0.87%	—	-10.07%
37	LUV	Southwest Airlines Co	Stock-Industrials	0.84%	+0.48%	+101.14%
38	THO	Thor Industries INC	Stock-Consumer Disc	0.77%	-0.20%	-3.45%
39	MSFT	Microsoft CORP	Stock-Tech	0.75%	+0.10%	+4.69%
40	TIFEUR	Tiffany & Co	Stock-Other	0.74%	-0.12%	-8.13%
41	TJX	Tjx Companies INC	Stock-Consumer Disc	0.69%	+0.07%	—
42	HD	Home Depot INC	Stock-Consumer Disc	0.69%	—	—
43	PNC	Pnc Financial Services Group	Stock-Financials	0.66%	-0.29%	-28.30%
44	WDAY	Workday Inc-class A	Stock-Tech	0.59%	+0.59%	NEW
45	CMCSA	Comcast Corp-class A	Stock-Comm Services	0.58%	—	-13.56%
46	SYK	Stryker CORP	Stock-Healthcare	0.54%	+0.05%	+9.09%
47	WFC	Wells Fargo & Co	Stock-Financials	0.54%	—	+17.39%
48	MCD	Mcdonald's CORP	Stock-Consumer Disc	0.54%	—	+1.60%
49	ICE	Intercontinental Exchange In	Stock-Financials	0.54%	—	—
50	STWD	Starwood Property Trust INC	Stock-Real Estate	0.53%	—	-2.00%

1–50 of 93

Portfolio Performance

Not enough priced holdings yet to compute performance

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2018-09-30	93	$197.5M	21	1BRK-B 2AAPL 3LMT Top holdings2018-09-30 1.BRK-B 2.AAPL 3.LMT 4.AMZN 5.GOOG 6.09857l 7.31428x 8.DIS 9.WAB 10.UNP
2018-06-30	92	$188.4M	19	1BRK-B 2AAPL 3LMT Top holdings2018-06-30 1.BRK-B 2.AAPL 3.LMT 4.GOOG 5.AMZN 6.META 7.09857l 8.WAB 9.NKE 10.DIS
2018-03-31	94	$186.1M	26	1BRK-B 2LMT 3AAPL Top holdings2018-03-31 1.BRK-B 2.LMT 3.AAPL 4.GOOG 5.09857l 6.AMZN 7.META 8.UNP 9.DIS 10.JPM
2017-12-31	97	$193.2M	18	1BRK-B 2AAPL 3LMT Top holdings2017-12-31 1.BRK-B 2.AAPL 3.LMT 4.GOOG 5.META 6.AMZN 7.BKNG 8.DIS 9.UNP 10.JPM
2017-09-30	101	$192.2M	21	1BRK-B 2AAPL 3LMT Top holdings2017-09-30 1.BRK-B 2.AAPL 3.LMT 4.GOOG 5.META 6.BKNG 7.DIS 8.AMZN 9.WAB 10.JPM
2017-06-30	97	$188.9M	15	1BRK-B 2AAPL 3LMT Top holdings2017-06-30 1.BRK-B 2.AAPL 3.LMT 4.GOOG 5.BKNG 6.META 7.WAB 8.DIS 9.AMZN 10.NKE
2017-03-31	94	$189.8M	12	1BRK-B 2AAPL 3LMT Top holdings2017-03-31 1.BRK-B 2.AAPL 3.LMT 4.BKNG 5.DIS 6.GOOG 7.META 8.AMZN 9.WAB 10.PEP
2016-12-31	99	$183.6M	15	1BRK-B 2AAPL 3LMT Top holdings2016-12-31 1.BRK-B 2.AAPL 3.LMT 4.GOOG 5.DIS 6.BKNG 7.WAB 8.META 9.74460d 10.AMZN
2016-09-30	96	$175.0M	12	1BRK-B 2AAPL 3LMT Top holdings2016-09-30 1.BRK-B 2.AAPL 3.LMT 4.GOOG 5.BKNG 6.DIS 7.META 8.WAB 9.PEP 10.AMZN
2016-06-30	97	$166.4M	20	1BRK-B 2LMT 3AAPL Top holdings2016-06-30 1.BRK-B 2.LMT 3.AAPL 4.DIS 5.GOOG 6.BKNG 7.META 8.VZ 9.WAB 10.PEP
2016-03-31	98	$176.0M	23	1BRK-B 2AAPL 3LMT Top holdings2016-03-31 1.BRK-B 2.AAPL 3.LMT 4.DIS 5.GOOG 6.WAB 7.BKNG 8.META 9.VZ 10.PEP
2015-12-31	96	$177.9M	24	1BRK-B 2AAPL 3LMT Top holdings2015-12-31 1.BRK-B 2.AAPL 3.LMT 4.38259P 5.DIS 6.META 7.WAB 8.PEP 9.G0177J 10.BKNG
2015-09-30	103	$174.7M	30	1BRK-B 2AAPL 3LMT Top holdings2015-09-30 1.BRK-B 2.AAPL 3.LMT 4.WAB 5.DIS 6.38259P 7.PEP 8.BKNG 9.MIDD 10.META
2015-06-30	104	$187.8M	20	1AAPL 2BRK-B 3WAB Top holdings2015-06-30 1.AAPL 2.BRK-B 3.WAB 4.VALE 5.MIDD 6.LMT 7.DUK 8.CVX 9.PEP 10.AIG
2015-03-31	105	$187.0M	29	1AAPL 2BRK-B 3WAB Top holdings2015-03-31 1.AAPL 2.BRK-B 3.WAB 4.87162H 5.DUK 6.LMT 7.VALE 8.CVX 9.MIDD 10.PEP
2014-12-31	95	$175.2M	15	1BRK-B 2AAPL 3DUK Top holdings2014-12-31 1.BRK-B 2.AAPL 3.DUK 4.WAB 5.LMT 6.87162H 7.CVX 8.018490 9.MIDD 10.PEP
2014-09-30	92	$183.6M	19	1BRK-B 2AAPL 3DUK Top holdings2014-09-30 1.BRK-B 2.AAPL 3.DUK 4.WAB 5.CVX 6.LMT 7.87162H 8.PEP 9.740189 10.MIDD
2014-06-30	94	$180.5M	15	1BRK-B 2AAPL 3CVX Top holdings2014-06-30 1.BRK-B 2.AAPL 3.CVX 4.WAB 5.DUK 6.YUM 7.PEP 8.87162H 9.MCD 10.966387
2014-03-31	92	$166.3M	25	1BRK-B 2AAPL 3DUK Top holdings2014-03-31 1.BRK-B 2.AAPL 3.DUK 4.WAB 5.CVX 6.YUM 7.MCD 8.PEP 9.CNI 10.MIDD
2013-12-31	94	$169.1M	21	1BRK-B 2AAPL 3CVX Top holdings2013-12-31 1.BRK-B 2.AAPL 3.CVX 4.DUK 5.WAB 6.YUM 7.92857w 8.MCD 9.CNI 10.STWD
2013-09-30	95	$150.9M	26	1BRK-B 2AAPL 3CVX Top holdings2013-09-30 1.BRK-B 2.AAPL 3.CVX 4.DUK 5.MCD 6.WAB 7.IBM 8.92857w 9.YUM 10.PEP
2013-06-30	96	$140.6M	0	1BRK-B 2CVX 3AAPL Top holdings2013-06-30 1.BRK-B 2.CVX 3.AAPL 4.MCD 5.IBM 6.DUK 7.PEP 8.30231g 9.YUM 10.92857w

Holding changes this quarter

Position changes disclosed by Laurel Grove Capital, LLC for the quarter ending 2018-09-30, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	BLKCHF	Blackrock INC	+1.9%	+381.75%	Add
2	NOC	Northrop Grumman CORP	+0.8%	+204.31%	Add
3	AAPL	Apple INC	+0.6%	-2.52%	Trim
4	INTC	Intel CORP	+0.5%	+44.02%	Add
5	LUV	Southwest Airlines Co	+0.5%	+101.14%	Add
6	AABAUSD	Altaba INC	+0.4%	+71.23%	Add
7	LMT	Lockheed Martin CORP	+0.3%	-3.02%	Trim
8	AMZN	Amazon.com INC	+0.3%	-3.43%	Trim
9	BRK-B	Berkshire Hathaway Inc-cl B	+0.3%	-3.17%	Trim
10	✓	FedEx Corporation	+0.3%	+10.07%	Add
11	HON	Honeywell International INC	+0.2%	+0.56%	Add
12	DIS	Walt Disney Co/the	+0.1%	-2.25%	Trim
13	RLGT	Radiant Logistics INC	+0.1%	-6.45%	Trim
14	UNP	Union Pacific CORP	+0.1%	-5.11%	Trim
15	SHW	Sherwin-williams Co/the	+0.1%	-1.59%	Trim
16	MSFT	Microsoft CORP	+0.1%	+4.69%	Add
17	ROG	Rogers CORP	+0.1%	—	Unchanged
18	BRK-A	Berkshire Hathaway Inc-cl A	+0.1%	—	Unchanged
19	TJX	Tjx Companies INC	+0.1%	—	Unchanged
20	BA	Boeing Co/the	+0.1%	-0.70%	Trim
21	MA	Mastercard INC - A	+0.1%	-5.56%	Trim
22	CMI	Cummins INC	+0.1%	-1.89%	Trim
23	JNJ	Johnson & Johnson	+0.1%	-4.69%	Trim
24	CSCO	Cisco Systems INC	+0.1%	+4.77%	Add
25	SYK	Stryker CORP	+0.1%	+9.09%	Add
26	GD	General Dynamics CORP	0%	-0.58%	Trim
27	SBUX	Starbucks CORP	0%	-8.41%	Trim
28	GOOG	Alphabet Inc-cl C	-0.1%	-3.44%	Trim
29	PXDEUR	Pioneer Natural Resources Co	-0.1%	-11.94%	Trim
30	✓	Exxon Mobil Corporation	-0.1%	-23.16%	Trim
31	ENB	Enbridge INC	-0.1%	-30.40%	Trim
32	MIDD	Middleby CORP	-0.1%	-45.97%	Trim
33	TIFEUR	Tiffany & Co	-0.1%	-8.13%	Trim
34	BAC	Bank Of America CORP	-0.2%	-58.60%	Trim
35	THO	Thor Industries INC	-0.2%	-3.45%	Trim
36	PNC	Pnc Financial Services Group	-0.3%	-28.30%	Trim
37	✓	Booking Holdings Inc.	-0.3%	-2.81%	Trim
38	AVGO	Broadcom INC	-0.5%	-26.29%	Trim
39	META	Meta Platforms Inc-class A	-0.7%	-1.05%	Trim
40	✓	U.S. Concrete Inc.	-0.7%	-55.45%	Trim
41	DD	DuPont de Nemours, Inc.	-2%	-82.71%	Trim
42	ABBV	Abbvie INC	—	EXIT	Sold out
43	LII	Lennox International INC	—	NEW	New buy
44	✓	AT & T, Inc. New	—	EXIT	Sold out
45	WDAY	Workday Inc-class A	—	NEW	New buy
46	JD	Jd.com Inc-adr	—	EXIT	Sold out
47	WTBA	West Bancorporation	—	NEW	New buy
48	✓		—	NEW	New buy
49	✓	Air Lease CORP	—	EXIT	Sold out
50	PG	Procter & Gamble Co/the	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2018-09-30	2018-10-12	13F-HR	View on EDGAR
2018-06-30	2018-07-13	13F-HR	View on EDGAR
2018-03-31	2018-04-11	13F-HR	View on EDGAR
2017-12-31	2018-01-23	13F-HR	View on EDGAR
2017-09-30	2017-10-12	13F-HR	View on EDGAR
2017-06-30	2017-07-11	13F-HR	View on EDGAR
2017-03-31	2017-04-11	13F-HR	View on EDGAR
2016-12-31	2017-01-11	13F-HR	View on EDGAR
2016-09-30	2016-10-17	13F-HR	View on EDGAR
2016-06-30	2016-07-20	13F-HR	View on EDGAR
2016-03-31	2016-04-18	13F-HR	View on EDGAR
2015-12-31	2016-01-15	13F-HR	View on EDGAR
2015-09-30	2015-10-14	13F-HR	View on EDGAR
2015-06-30	2015-07-14	13F-HR	View on EDGAR
2015-03-31	2015-04-14	13F-HR	View on EDGAR
2014-12-31	2015-01-12	13F-HR	View on EDGAR
2014-09-30	2014-10-08	13F-HR	View on EDGAR
2014-06-30	2014-07-15	13F-HR	View on EDGAR
2014-03-31	2014-04-23	13F-HR	View on EDGAR
2013-12-31	2014-01-29	13F-HR	View on EDGAR
2013-09-30	2013-10-11	13F-HR	View on EDGAR
2013-06-30	2013-07-16	13F-HR	View on EDGAR