CIK: 0001324943
Total reported value
$4.9B
Reporting period: 2014-09-30 · Number of holdings: 1005
Legg Mason Investment Counsel, LLC disclosed 1005 holdings in its latest 13F filing for the period ending 2014-09-30, with total reported value of $4.9B and a quarterly turnover rate of 13.7%.
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Legg Mason Investment Counsel, LLC's disclosed holdings carry a Herfindahl concentration index of 0.008 — mathematically equivalent to about 118 equally-sized positions, well below its 1005 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 2.74), 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 36% 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.
Trim ACGL
-47.9% -$27.1M
Add TROW
+159.8% $23.3M
Add ALXN
+157.0% $20.4M
Trim G2554F113
-49.2% -$19.8M
Add REGN
+8115.8% $19.4M
Trim ACN
-40.3% -$18.0M
Showing top 200 holdings (of 1005 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | XOM | Exxon Mobil CORP | Stock-Energy | 3.75% | -0.11% | +3.04% | |
| 2 | AAPL | Apple INC | Stock-Tech | 2.40% | +0.25% | +2.29% | |
| 3 | GILD | Gilead Sciences INC | Stock-Healthcare | 1.79% | +0.35% | -4.04% | |
| 4 | VFC | Vf CORP | Stock-Consumer Disc | 1.76% | — | -2.28% | |
| 5 | SLB | Slb LTD | Stock-Energy | 1.52% | -0.21% | +0.72% | |
| 6 | USB | US Bancorp | Stock-Financials | 1.41% | — | -0.75% | |
| 7 | WFC | Wells Fargo & Co | Stock-Financials | 1.41% | — | -0.26% | |
| 8 | CVS | Cvs Health CORP | Stock-Healthcare | 1.38% | +0.08% | -0.57% | |
| 9 | AXP | American Express Co | Stock-Financials | 1.35% | -0.14% | -2.39% | |
| 10 | CELG | Celgene CORP | Stock-Other | 1.35% | +0.08% | -4.41% | |
| 11 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.26% | +0.14% | +6.59% | |
| 12 | AWK | American Water Works Co INC | Stock-Utilities | 1.22% | — | -0.63% | |
| 13 | UNH | Unitedhealth Group INC | Stock-Healthcare | 1.21% | — | -3.26% | |
| 14 | PEP | Pepsico INC | Stock-Consumer Staples | 1.21% | — | -0.41% | |
| 15 | CVX | Chevron CORP | Stock-Energy | 1.21% | -0.14% | -2.66% | |
| 16 | CERNCHF | Cerner CORP | Stock-Other | 1.18% | +0.35% | +22.73% | |
| 17 | UTXZ | United Tech CORP | Stock-Other | 1.18% | -0.07% | +2.48% | |
| 18 | DHR | Danaher CORP | Stock-Healthcare | 1.16% | — | -1.41% | |
| 19 | AXP | American Express Company | Stock-Financials | 1.16% | -0.28% | -21.76% | |
| 20 | UNP | Union Pacific CORP | Stock-Industrials | 1.16% | +0.09% | -1.05% | |
| 21 | GIS | General Mills INC | Stock-Consumer Staples | 1.14% | — | +0.85% | |
| 22 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.04% | +0.07% | -0.19% | |
| 23 | NOVEUR | National Oilwell Varco INC | Stock-Other | 1.03% | -0.19% | -8.85% | |
| 24 | PWR | Quanta Services INC | Stock-Industrials | 1.02% | +0.11% | +5.87% | |
| 25 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.99% | +0.08% | -3.20% | |
| 26 | VMWEUR | Vmware Inc-class A | Stock-Other | 0.99% | — | +4.45% | |
| 27 | YUM | Yum! Brands INC | Stock-Consumer Disc | 0.97% | -0.22% | -8.79% | |
| 28 | EL | Estee Lauder Companies-cl A | Stock-Consumer Staples | 0.95% | — | +0.09% | |
| 29 | BWA | Borgwarner INC | Stock-Consumer Disc | 0.93% | -0.16% | +4.95% | |
| 30 | QCOM | Qualcomm INC | Stock-Tech | 0.92% | -0.20% | -13.23% | |
| 31 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.91% | — | +2.43% | |
| 32 | PH | Parker Hannifin CORP | Stock-Industrials | 0.87% | +0.09% | +21.96% | |
| 33 | HD | Home Depot INC | Stock-Consumer Disc | 0.85% | +0.13% | +3.95% | |
| 34 | CCI | Crown Castle Inc. | Stock-Real Estate | 0.85% | — | -3.24% | |
| 35 | DUK | Du Pont E I De Nemour&Co | Stock-Utilities | 0.82% | +0.11% | +4.52% | |
| 36 | TROW | T Rowe Price Group INC | Stock-Financials | 0.82% | +0.48% | +159.81% | |
| 37 | GOOG | Alphabet A | Stock-Comm Services | 0.79% | — | +0.87% | |
| 38 | APD | Air Products & Chemicals INC | Stock-Materials | 0.79% | — | -2.38% | |
| 39 | EPD | Enterprise Products Partners | Stock-Energy | 0.78% | — | +100.81% | |
| 40 | ✓ | Google INC Class C | Stock-Other | 0.77% | — | -0.08% | |
| 41 | CSCO | Cisco Systems INC | Stock-Tech | 0.76% | — | -0.75% | |
| 42 | NTAP | Netapp INC | Stock-Tech | 0.74% | +0.08% | -4.89% | |
| 43 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.74% | — | +1.68% | |
| 44 | ✓ | Allergan INC | Stock-Other | 0.70% | -0.14% | -21.21% | |
| 45 | STWD | Starwood Property Trust, Inc. | Stock-Real Estate | 0.68% | — | +0.18% | |
| 46 | AEP | American Electric Power Company, Inc. | Stock-Utilities | 0.67% | — | +4.49% | |
| 47 | V | Visa Inc-class A Shares | Stock-Financials | 0.67% | — | -2.17% | |
| 48 | ALXN | Alexion Pharmaceuticals INC | Stock-Other | 0.66% | +0.42% | +157.02% | |
| 49 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 0.58% | — | +10.64% | |
| 50 | EBAY | Ebay INC | Stock-Consumer Disc | 0.57% | — | -3.88% |
Not enough priced holdings yet to compute performance
Legg Mason Investment Counsel, LLC's most significant position changes for 2014-09-30: Sold out: Informatica CORP; Trim: Arch Capital Group Ltd. (ACGL) — shares -47.88%; Add: T Rowe Price Group INC (TROW) — shares +159.81%; Add: Alexion Pharmaceuticals INC (ALXN) — shares +157.02%; Trim: — shares -49.18%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TROW | T Rowe Price Group INC | +0.5% | +159.81% | Add |
| 2 | ALXN | Alexion Pharmaceuticals INC | +0.4% | +157.02% | Add |
| 3 | REGN | Regeneron Pharmaceuticals | +0.4% | +8115.76% | Add |
| 4 | CERNCHF | Cerner CORP | +0.4% | +22.73% | Add |
| 5 | GILD | Gilead Sciences INC | +0.4% | -4.04% | Trim |
| 6 | WHR | Whirlpool CORP | +0.3% | +324.97% | Add |
| 7 | ✓ | Linkedin CORP | +0.3% | +25172.92% | Add |
| 8 | AAPL | Apple INC | +0.3% | +2.29% | Add |
| 9 | DAL | Delta Air Lines INC | +0.2% | +78.92% | Add |
| 10 | KMI | Kinder Morgan INC | +0.1% | +205.31% | Add |
| 11 | JPM | Jpmorgan Chase & Co | +0.1% | +6.59% | Add |
| 12 | IVZ | Invesco Ltd. | +0.1% | +164.96% | Add |
| 13 | CB | Chubb Limited | +0.1% | +844.66% | Add |
| 14 | HD | Home Depot INC | +0.1% | +3.95% | Add |
| 15 | DUK | Du Pont E I De Nemour&Co | +0.1% | +4.52% | Add |
| 16 | PWR | Quanta Services INC | +0.1% | +5.87% | Add |
| 17 | PH | Parker Hannifin CORP | +0.1% | +21.96% | Add |
| 18 | IBM | Intl Business Machines CORP | +0.1% | +12.35% | Add |
| 19 | UNP | Union Pacific CORP | +0.1% | -1.05% | Trim |
| 20 | NTAP | Netapp INC | +0.1% | -4.89% | Trim |
| 21 | TJX | Tjx Companies INC | +0.1% | -3.20% | Trim |
| 22 | CELG | Celgene CORP | +0.1% | -4.41% | Trim |
| 23 | CVS | Cvs Health CORP | +0.1% | -0.57% | Trim |
| 24 | PG | Procter & Gamble Co/the | +0.1% | -0.19% | Trim |
| 25 | POT1EUR | Potash CORP Of Saskatchewan | -0.1% | -2.94% | Trim |
| 26 | UTXZ | United Tech CORP | -0.1% | +2.48% | Add |
| 27 | DNOW | Dnow INC | -0.1% | -87.82% | Trim |
| 28 | ETN | Eaton Corporation plc | -0.1% | +2.45% | Add |
| 29 | FMC | Fmc CORP | -0.1% | -99.84% | Trim |
| 30 | XOM | Exxon Mobil CORP | -0.1% | +3.04% | Add |
| 31 | TTEK | Tetra Tech INC | -0.1% | -18.89% | Trim |
| 32 | MITTEUR | AG Mortgage Investment Trust | -0.1% | -22.57% | Trim |
| 33 | ITW | Illinois Tool Works | -0.1% | -19.91% | Trim |
| 34 | MCD | Mcdonald's CORP | -0.1% | -16.35% | Trim |
| 35 | CVX | Chevron CORP | -0.1% | -2.66% | Trim |
| 36 | AXP | American Express Co | -0.1% | -2.39% | Trim |
| 37 | STT | State Street CORP | -0.1% | -30.80% | Trim |
| 38 | ✓ | Allergan INC | -0.1% | -21.21% | Trim |
| 39 | BWA | Borgwarner INC | -0.2% | +4.95% | Add |
| 40 | SAP | Sap Se-sponsored Adr | -0.2% | -39.71% | Trim |
| 41 | NOVEUR | National Oilwell Varco INC | -0.2% | -8.85% | Trim |
| 42 | QCOM | Qualcomm INC | -0.2% | -13.23% | Trim |
| 43 | SLB | Slb LTD | -0.2% | +0.72% | Add |
| 44 | TTS1EUR | Tile Shop Hldgs INC | -0.2% | — | Unchanged |
| 45 | YUM | Yum! Brands INC | -0.2% | -8.79% | Trim |
| 46 | AXP | American Express Company | -0.3% | -21.76% | Trim |
| 47 | ACN | Accenture plc | -0.4% | -40.34% | Trim |
| 48 | ✓ | -0.4% | -49.18% | Trim | |
| 49 | ACGL | Arch Capital Group Ltd. | -0.6% | -47.88% | Trim |
| 50 | ✓ | Informatica CORP | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2014-09-30 | 2014-11-14 | 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 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
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