Horan Capital Management

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/Contrarian: 100
Sector conviction: 75.98
Diversification: 70
Sizing Uniformity: 91.54

Recent moves

Add 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
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%

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2020-12-31	35	$794.3M	19	1AMZN 2AAPL 3GOOG Top holdings2020-12-31 1.AMZN 2.AAPL 3.GOOG 4.MSFT 5.V 6.META 7.BKNG 8.SBUX 9.BRK-B 10.TJX
2020-09-30	35	$679.4M	14	1AMZN 2MSFT 3AAPL Top holdings2020-09-30 1.AMZN 2.MSFT 3.AAPL 4.META 5.GOOG 6.V 7.BRK-B 8.BKNG 9.SBUX 10.TJX
2020-06-30	39	$644.9M	26	1AMZN 2MSFT 3AAPL Top holdings2020-06-30 1.AMZN 2.MSFT 3.AAPL 4.GOOG 5.V 6.META 7.BKNG 8.BRK-B 9.SBUX 10.TJX
2020-03-31	44	$532.9M	29	1AMZN 2MSFT 3GOOG Top holdings2020-03-31 1.AMZN 2.MSFT 3.GOOG 4.V 5.AAPL 6.BRK-B 7.META 8.BKNG 9.SBUX 10.TJX
2019-12-31	49	$609.4M	21	1AMZN 2AAPL 3MSFT Top holdings2019-12-31 1.AMZN 2.AAPL 3.MSFT 4.GOOG 5.BRK-B 6.V 7.META 8.TJX 9.SBUX 10.BKNG
2019-09-30	56	$559.8M	22	1AMZN 2MSFT 3GOOG Top holdings2019-09-30 1.AMZN 2.MSFT 3.GOOG 4.BRK-B 5.V 6.AAPL 7.SBUX 8.META 9.TJX 10.BKNG
2019-06-30	60	$558.5M	52	1AMZN 2V 3MSFT Top holdings2019-06-30 1.AMZN 2.V 3.MSFT 4.BRK-B 5.META 6.GOOG 7.AAPL 8.SBUX 9.TJX 10.BKNG
2019-03-31	64	$541.8M	55	12313512V 3GOOG Top holdings2019-03-31 1.231351 2.V 3.GOOG 4.846707 5.MSFT 6.378331 7.META 8.TJX 9.SBUX 10.TCEHY
2018-12-31	59	$479.4M	19	1AMZN 2BRK-B 3GOOG Top holdings2018-12-31 1.AMZN 2.BRK-B 3.GOOG 4.V 5.MSFT 6.TJX 7.SBUX 8.META 9.AAPL 10.TCEHY
2018-09-30	64	$543.2M	29	1AMZN 2BRK-B 3V Top holdings2018-09-30 1.AMZN 2.BRK-B 3.V 4.GOOG 5.MSFT 6.TJX 7.AAPL 8.META 9.SBUX 10.C
2018-06-30	67	$510.9M	59	1AMZN 2BRK-B 3GOOG Top holdings2018-06-30 1.AMZN 2.BRK-B 3.GOOG 4.V 5.META 6.MSFT 7.TJX 8.AAPL 9.GILD 10.WFC
2018-03-31	57	$460.9M	27	123135128467073GOOG Top holdings2018-03-31 1.231351 2.846707 3.GOOG 4.V 5.MSFT 6.TJX 7.378331 8.GILD 9.META 10.C
2017-12-31	71	$503.4M	22	184670722313513GOOG Top holdings2017-12-31 1.846707 2.231351 3.GOOG 4.V 5.MSFT 6.378331 7.C 8.WMT 9.WFC 10.GILD
2017-09-30	65	$481.2M	50	18467072GOOG 3V Top holdings2017-09-30 1.846707 2.GOOG 3.V 4.231351 5.GILD 6.MSFT 7.C 8.378331 9.WFC 10.WMT
2017-06-30	68	$457.2M	16	1BRK-B 2GOOG 3AMZN Top holdings2017-06-30 1.BRK-B 2.GOOG 3.AMZN 4.V 5.MSFT 6.GILD 7.AAPL 8.C 9.WMT 10.WFC
2017-03-31	81	$438.9M	22	1BRK-B 2AMZN 3GOOG Top holdings2017-03-31 1.BRK-B 2.AMZN 3.GOOG 4.V 5.MSFT 6.AAPL 7.PG 8.GILD 9.WMT 10.WFC
2016-12-31	61	$386.6M	71	1BRK-B 2GOOG 3MSFT Top holdings2016-12-31 1.BRK-B 2.GOOG 3.MSFT 4.AMZN 5.AEP 6.V 7.WFC 8.PG 9.BAC 10.C
2016-09-30	55	$376.8M	43	184670222079K13AMZN Top holdings2016-09-30 1.846702 2.2079K1 3.AMZN 4.PG 5.V 6.MSFT 7.AEP 8.WMT 9.WFC 10.EMR
2016-06-30	58	$361.0M	49	1BRK-B 2GOOG 3AEP Top holdings2016-06-30 1.BRK-B 2.GOOG 3.AEP 4.PG 5.V 6.AMZN 7.WMT 8.MSFT 9.WFC 10.EMR
2016-03-31	59	$360.7M	21	1BRK-B 2GOOG 3AEP Top holdings2016-03-31 1.BRK-B 2.GOOG 3.AEP 4.V 5.PG 6.MSFT 7.WMT 8.AMZN 9.WFC 10.EMR
2015-12-31	65	$360.6M	46	1AEP 2MSFT 3GOOG Top holdings2015-12-31 1.AEP 2.MSFT 3.GOOG 4.BRK-B 5.V 6.PG 7.AMZN 8.WFC 9.WMT 10.BAC
2015-09-30	69	$341.1M	52	1BRK-B 2AEP 3MSFT Top holdings2015-09-30 1.BRK-B 2.AEP 3.MSFT 4.V 5.GOOG 6.PG 7.WMT 8.WFC 9.BAC 10.C
2015-06-30	65	$354.9M	57	1BRK-B 2AEP 3MSFT Top holdings2015-06-30 1.BRK-B 2.AEP 3.MSFT 4.V 5.WFC 6.AMZN 7.C 8.38259P 9.BAC 10.QCOM
2015-03-31	56	$354.4M	27	18467022AEP 3V Top holdings2015-03-31 1.846702 2.AEP 3.V 4.MSFT 5.WFC 6.AMZN 7.38259P 8.WMT 9.QCOM 10.C
2014-12-31	38	$289.9M	19	18467022MSFT 3V Top holdings2014-12-31 1.846702 2.MSFT 3.V 4.WFC 5.AEP 6.BAC 7.WMT 8.CSCO 9.C 10.SYY
2014-09-30	38	$295.9M	9	18467022MSFT 3CNQ Top holdings2014-09-30 1.846702 2.MSFT 3.CNQ 4.WFC 5.V 6.AEP 7.BAC 8.38259P 9.AMZN 10.SYY
2014-06-30	37	$295.5M	21	18467022CNQ 3MSFT Top holdings2014-06-30 1.846702 2.CNQ 3.MSFT 4.WFC 5.NOVEUR 6.AEP 7.V 8.38259P 9.SYY 10.CSCO
2014-03-31	35	$289.8M	13	18467022CNQ 3MSFT Top holdings2014-03-31 1.846702 2.CNQ 3.MSFT 4.WFC 5.USB 6.V 7.NOVEUR 8.JNJ 9.BAC 10.AEP
2013-12-31	35	$291.9M	16	18467022CNQ 3MSFT Top holdings2013-12-31 1.846702 2.CNQ 3.MSFT 4.AMAT 5.WFC 6.V 7.AEP 8.NOVEUR 9.USB 10.PEP
2013-09-30	33	$263.1M	7	18467022CNQ 3AMAT Top holdings2013-09-30 1.846702 2.CNQ 3.AMAT 4.MSFT 5.WFC 6.CSCO 7.PEP 8.NOVEUR 9.V 10.USB
2013-06-30	31	$254.3M	0	18467022CNQ 3WFC Top holdings2013-06-30 1.846702 2.CNQ 3.WFC 4.AMAT 5.CSCO 6.PEP 7.MSFT 8.JNJ 9.FRFHF 10.USB

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%.

Position changes disclosed by Horan Capital Management for the quarter ending 2020-12-31, including ticker, issuer, weight change, shares change, and action
#	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

FAQ

What is Horan Capital Management and what type of investor is it?

Horan Capital Management 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 (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%