Quality value
Mark Hillman
Q2 2012 13F: 44 holdings worth about $56.2M; that quarter 0 new, 0 added, 44 trimmed, 1 sold out.
13F lists only long positions in US-listed stocks (and some ETFs and convertibles); short positions, cash, bonds, shares listed outside the US and private companies are not shown, so this is not the giant’s whole portfolio.
Why This Giant Is Included
- Rule numbers (Q2 2026): 54 holdings, top 10 = 36%, stocks $0.1B, options 0%; not met: A4 top 10 = 36%
13F value
$56.2M
previous $117.2M (−52.0%)
Holdings
44
0 new / 1 sold out
Net deploymentest.
−47.8%
est. net buying ÷ last quarter’s portfolio
Top-10 concentration
49%
overlap with the composite 16%
Turnoverest.
0.0%
held 17 quarters on average
I
Trades in Q2 2012
Sorted by position shift: how many percentage points of the portfolio the trade moved.
How to Read This
Share changes are split-adjusted. Est. trade price = (start + end price) ÷ 2; 13F does not show the actual trade date or price.
| Move | Company | Change in shares | Position shift (pts) |
|---|---|---|---|
| Trimmed | AXPAmerican Express Co | −49.0K | −5.08 |
| Trimmed | RTN.ARaytheon Co | −49.7K | −5.00 |
| Trimmed | AAPLApple Inc | −4.6K | −4.83 |
| Trimmed | —General Electric Co | −128.3K | −4.76 |
| Trimmed | IRIngersoll Rand Inc | −60.4K | −4.53 |
| Trimmed | PFEPfizer Inc | −109.4K | −4.48 |
| Trimmed | —Exxon Mobil Corp | −29.3K | −4.46 |
| Trimmed | —Eidp Inc | −48.9K | −4.40 |
| Trimmed | BACBank of America Corp | −300.7K | −4.38 |
| Trimmed | ORCLOracle Corp | −82.7K | −4.37 |
| Trimmed | JNJJohnson & Johnson | −36.2K | −4.35 |
| Trimmed | BABoeing Co | −31.8K | −4.21 |
| Trimmed | MSFTMicrosoft Corp | −76.4K | −4.16 |
| Trimmed | CSCOCisco Systems Inc | −131.9K | −4.03 |
| Trimmed | WUWestern Union CO | −130.4K | −3.91 |
| Trimmed | TXNTexas Instruments Inc | −72.9K | −3.72 |
| Trimmed | JPMJPMorgan Chase & Co | −55.2K | −3.51 |
| Trimmed | RIGTransocean Ltd | −41.7K | −3.32 |
| Trimmed | GSGoldman Sachs Group Inc | −19.0K | −3.24 |
| Trimmed | —HP Inc | −88.0K | −3.15 |
| Sold out | DISWalt Disney Co | −13.5K | −1.17 |
| Trimmed | VVisa Inc | −2.7K | −0.59 |
| Trimmed | ALLAllstate Corp | −9.5K | −0.59 |
| Trimmed | WFCWells Fargo & Co | −9.4K | −0.56 |
| Trimmed | CLXClorox Company | −4.1K | −0.53 |
| Trimmed | IBMInternational Business Machines Corp | −1.5K | −0.52 |
| Trimmed | WMTWalmart Inc | −4.2K | −0.52 |
| Trimmed | AMGNAmgen Inc | −4.0K | −0.51 |
| Trimmed | —Google LLC | −498 | −0.51 |
| Trimmed | CPBThe Campbell’s Company | −8.6K | −0.51 |
| Trimmed | —Altaba Inc | −17.9K | −0.51 |
| Trimmed | HNZKraft Heinz Foods Co | −5.2K | −0.50 |
| Trimmed | BDXBecton Dickinson and Co | −3.7K | −0.49 |
| Trimmed | —Honeywell International Inc | −4.9K | −0.49 |
| Trimmed | MMM3M Co | −3.0K | −0.48 |
| Trimmed | PHParker-Hannifin Corp | −3.5K | −0.48 |
| Trimmed | APOLApollo Education Group Inc | −7.4K | −0.48 |
| Trimmed | —Laboratory CRP of Amer Holdings | −2.9K | −0.48 |
| Trimmed | SYYSysco Corp | −9.0K | −0.48 |
| Trimmed | ADPAutomatic Data Processing | −4.8K | −0.47 |
| Trimmed | —Staples Inc | −19.3K | −0.45 |
| Trimmed | INTCIntel Corp | −9.4K | −0.44 |
| Trimmed | MRKMerck & Co., Inc | −5.9K | −0.44 |
| Trimmed | NUENucor Corp | −6.0K | −0.40 |
| Trimmed | BBYBest Buy Co Inc | −8.4K | −0.31 |
II
All Holdings (44 Companies)
Share classes of one company are combined; click a heading to re-sort.
How to Read This
Est. average cost: shares bought each quarter × (start + end price) ÷ 2, weighted; trims do not change the cost. Positions held before Q1 1999 (or the giant’s earliest electronic filing) start from that quarter’s price and are marked ‘start point’. vs cost = quarter-end price ÷ est. average cost − 1, excluding dividends.
| Company | Weight (prev.) | Value | This quarter | Quarter-end price | vs cost |
|---|---|---|---|---|---|
| —General Electric Co | 5.4%4.7% | $3.0M | Trimmed −47% | $20.84 | −17% |
| RTN.ARaytheon Co | 5.0%4.5% | $2.8M | Trimmed −50% | $56.60 | +24% |
| AXPAmerican Express Co | 4.9%4.8% | $2.8M | Trimmed −51% | $58.21 | +38% |
| AAPLApple Inc | 4.9%4.8% | $2.8M | Trimmed −50% | $584.00 | +118% |
| PFEPfizer Inc | 4.9%4.4% | $2.8M | Trimmed −48% | $23.00 | +43% |
| JNJJohnson & Johnson | 4.9%4.3% | $2.8M | Trimmed −47% | $67.56 | +12% |
| IRIngersoll Rand Inc | 4.8%4.4% | $2.7M | Trimmed −49% | $42.18 | +38% |
| —Eidp Inc | 4.7%4.6% | $2.7M | Trimmed −48% | $50.57 | +26% |
| MSFTMicrosoft Corp | 4.7%4.5% | $2.6M | Trimmed −47% | $30.59 | +15% |
| BABoeing Co | 4.7%4.3% | $2.6M | Trimmed −47% | $74.30 | +3% |
| —Exxon Mobil Corp | 4.7%4.4% | $2.6M | Trimmed −49% | $85.57 | +14% |
| ORCLOracle Corp | 4.5%4.2% | $2.5M | Trimmed −49% | $29.70 | +20% |
| BACBank of America Corp | 4.3%4.9% | $2.4M | Trimmed −50% | $8.18 | −30% |
| CSCOCisco Systems Inc | 4.2%4.9% | $2.4M | Trimmed −49% | $17.17 | −9% |
| WUWestern Union CO | 4.1%4.0% | $2.3M | Trimmed −49% | $16.84 | +6% |
| JPMJPMorgan Chase & Co | 4.0%4.7% | $2.3M | Trimmed −47% | $35.73 | −21% |
| TXNTexas Instruments Inc | 3.9%4.3% | $2.2M | Trimmed −49% | $28.69 | −1% |
| GSGoldman Sachs Group Inc | 3.6%4.2% | $2.0M | Trimmed −47% | $95.86 | −53% |
| RIGTransocean Ltd | 3.5%4.0% | $2.0M | Trimmed −49% | $44.73 | −22% |
| —HP Inc | 3.4%3.7% | $1.9M | Trimmed −48% | $20.11 | −42% |
| MRKMerck & Co., Inc | 0.7%0.5% | $377K | Trimmed −40% | $41.75 | +22% |
| INTCIntel Corp | 0.6%0.5% | $322K | Trimmed −44% | $26.65 | +40% |
| ADPAutomatic Data Processing | 0.5%0.5% | $304K | Trimmed −47% | $55.66 | +2% |
| AMGNAmgen Inc | 0.5%0.5% | $288K | Trimmed −50% | $72.92 | +26% |
| WFCWells Fargo & Co | 0.5%0.5% | $285K | Trimmed −53% | $33.44 | +12% |
| VVisa Inc | 0.5%0.5% | $278K | Trimmed −55% | $123.63 | +71% |
| SYYSysco Corp | 0.5%0.5% | $272K | Trimmed −50% | $29.81 | +4% |
| WMTWalmart Inc | 0.5%0.4% | $272K | Trimmed −52% | $69.72 | +36% |
| HNZKraft Heinz Foods Co | 0.5%0.5% | $266K | Trimmed −51% | $54.38 | +45% |
| MMM3M Co | 0.5%0.5% | $260K | Trimmed −51% | $89.60 | +25% |
| ALLAllstate Corp | 0.5%0.5% | $257K | Trimmed −56% | $35.09 | +12% |
| —Honeywell International Inc | 0.5%0.5% | $255K | Trimmed −52% | $55.84 | +50% |
| —Laboratory CRP of Amer Holdings | 0.4%0.4% | $249K | Trimmed −52% | $92.61 | +20% |
| IBMInternational Business Machines Corp | 0.4%0.5% | $247K | Trimmed −54% | $195.58 | +94% |
| CLXClorox Company | 0.4%0.4% | $244K | Trimmed −55% | $72.46 | +25% |
| —Altaba Inc | 0.4%0.4% | $232K | Trimmed −55% | $15.83 | −14% |
| PHParker-Hannifin Corp | 0.4%0.5% | $229K | Trimmed −54% | $76.88 | +10% |
| BBYBest Buy Co Inc | 0.4%0.4% | $223K | Trimmed −44% | $20.96 | −37% |
| BDXBecton Dickinson and Co | 0.4%0.4% | $218K | Trimmed −56% | $74.75 | +1% |
| APOLApollo Education Group Inc | 0.4%0.4% | $217K | Trimmed −55% | $36.19 | −22% |
| NUENucor Corp | 0.4%0.4% | $215K | Trimmed −51% | $37.90 | −17% |
| CPBThe Campbell’s Company | 0.4%0.4% | $213K | Trimmed −57% | $33.37 | +11% |
| —Staples Inc | 0.4%0.5% | $211K | Trimmed −54% | $13.05 | −13% |
| —Google LLC | 0.4%0.5% | $209K | Trimmed −58% | $580.07 | +20% |
III
Portfolio Map: Size Is Weight, Colour Is Gain or Loss against Cost
How to Read This
Each block is a company (up to 60); area = portfolio weight. The darker the colour, the further the quarter-end price is above (or below) the estimated cost: light 5–25%, medium 25–100%, darkest over 100%; grey is within 5%.
above costbelow costwithin 5%
IV
Over Time
From Q4 2004, 31 quarters (this giant’s electronic 13F filings).
13F Value
Holdings
Top-10 Concentration
Turnover (Est.)
Sector Mix
Information technologyFinancialsCommunication & mediaConsumer discretionaryIndustrialsHealth careEnergyOther (incl. unclassified)
V
Quarter by Quarter, with the Original Filings
* = not counted in that quarter’s totals. Links open the original SEC filing; 13F-HR/A is an amendment.
Show 31 Quarters
| Quarter | Holdings | 13F value | SEC |
|---|---|---|---|
| Q2 2012 | 44 | $56.2M | 13F-HR |
| Q1 2012 | 45 | $117.2M | 13F-HR |
| Q4 2011 | 45 | $147.3M | 13F-HR |
| Q3 2011 | 45 | $367.0M | 13F-HR |
| Q2 2011 | 45 | $407.3M | 13F-HR |
| Q1 2011 | 44 | $414.6M | 13F-HR |
| Q4 2010 | 45 | $448.7M | 13F-HR |
| Q3 2010 | 46 | $430.5M | 13F-HR |
| Q2 2010 | 46 | $416.9M | 13F-HR |
| Q1 2010 | 46 | $537.8M | 13F-HR |
| Q4 2009 | 46 | $503.9M | 13F-HR |
| Q3 2009 | 46 | $428.4M | 13F-HR |
| Q2 2009 | 47 | $369.3M | 13F-HR |
| Q1 2009 | 47 | $259.0M | 13F-HR |
| Q4 2008 | 48 | $308.2M | 13F-HR |
| Q3 2008 | 53 | $569.4M | 13F-HR |
| Q2 2008 | 54 | $887.4M | 13F-HR |
| Q1 2008 | 54 | $1.1B | 13F-HR |
| Q4 2007 | 56 | $1.2B | 13F-HR |
| Q3 2007 | 54 | $864.0M | 13F-HR |
| Q2 2007 | 53 | $830.2M | 13F-HR |
| Q1 2007 | 53 | $731.5M | 13F-HR |
| Q4 2006 | 55 | $658.3M | 13F-HR |
| Q3 2006 | 55 | $551.2M | 13F-HR |
| Q2 2006 * | 56 | $512.2M | 13F-HR |
| Q1 2006 * | 60 | $439.5M | 13F-HR |
| Q4 2005 * | 60 | $340.9M | 13F-HR |
| Q3 2005 * | 59 | $254.0M | 13F-HR |
| Q2 2005 * | 59 | $227.5M | 13F-HR |
| Q1 2005 * | 55 | $115.4M | 13F-HR |
| Q4 2004 * | 55 | $108.4M | 13F-HR |
VI
Large Positions Sold Out
Positions that once made up 2% or more of the portfolio and were later sold out (latest 40): holding period and what became of the company, without profit or loss.
How to Read This
Sold out means the holding no longer appears on the 13F: it may have been sold, or the company was acquired or delisted. Company status is checked only for companies the giants together once held $100M or more of, from the company’s own SEC filings (for example 8-K item 1.03 = bankruptcy filing); a dash means not checked.
| Company | Held | Peak weight | Company since |
|---|---|---|---|
| —General Electric Co | Q4 2004 – Q4 2013 | 5% | Still filing with the SEC |
| BBYBest Buy Co Inc | Q2 2009 – Q2 2013 | 6% | — |
| IRIngersoll Rand Inc | Q3 2009 – Q1 2013 | 6% | — |
| TXNTexas Instruments Inc | Q3 2008 – Q1 2013 | 4% | — |
| PFEPfizer Inc | Q4 2004 – Q3 2012 | 5% | — |
| TAT&T Inc | Q4 2005 – Q1 2012 | 6% | Still filing with the SEC |
| GLWCorning Inc | Q1 2008 – Q1 2012 | 5% | Still filing with the SEC |
| SBUXStarbucks Corp | Q4 2008 – Q4 2011 | 6% | — |
| GRGoodrich Corp | Q2 2008 – Q4 2011 | 5% | Acquired or delisted Aug 6, 2012 |
| VZVerizon Communications Inc | Q4 2004 – Q1 2011 | 6% | — |
| AETAetna Inc | Q4 2004 – Q1 2011 | 6% | Acquired or delisted Dec 10, 2018 |
| SYYSysco Corp | Q4 2008 – Q3 2010 | 5% | — |
| AEPAmerican Electric Power | Q1 2009 – Q3 2010 | 5% | — |
| MKCMcCormick & Co Inc | Q4 2004 – Q2 2010 | 5% | — |
| ADBEAdobe Inc | Q1 2009 – Q3 2009 | 5% | — |
| —Ingersoll Rand Co Ltd | Q3 2008 – Q3 2009 | 5% | Acquired or delisted Jul 1, 2009 |
| HSTHost Hotels & Resorts Inc | Q4 2004 – Q2 2009 | 5% | Still filing with the SEC |
| AKAMAkamai Technologies Inc | Q3 2007 – Q1 2009 | 7% | — |
| HDHome Depot Inc | Q4 2004 – Q1 2009 | 5% | — |
| —Citigroup Inc | Q1 2006 – Q1 2009 | 5% | Still filing with the SEC |
| —Lam Research Corp | Q4 2007 – Q1 2009 | 5% | Still filing with the SEC |
| SPYSPDR S&P 500 ETF Trust | Q4 2008 – Q1 2009 | 2% | — |
| —Transocean Inc Com | Q1 2008 – Q4 2008 | 5% | No SEC record found |
| DHID.R. Horton | Q4 2004 – Q3 2008 | 8% | — |
| WFMWhole Foods Market Inc | Q4 2004 – Q3 2008 | 5% | — |
| FDXFedEx Corp | Q4 2004 – Q3 2008 | 5% | — |
| —Motorola Solutions, Inc | Q4 2004 – Q3 2008 | 5% | Still filing with the SEC |
| —Allied Capital Corp | Q4 2004 – Q2 2008 | 4% | Acquired or delisted Mar 25, 2021 |
| GRGoodrich Corp | Q4 2004 – Q4 2007 | 6% | Acquired or delisted Aug 6, 2012 |
| —Emc Corp/ma | Q4 2004 – Q3 2007 | 7% | Acquired or delisted Sep 20, 2016 |
| —Laboratory CRP of Amer Holdings | Q4 2004 – Q3 2007 | 5% | Still filing with the SEC |
| AEPAmerican Electric Power | Q4 2004 – Q1 2007 | 4% | — |
| —Osi Restaurant Partners LLC | Q2 2006 – Q4 2006 | 4% | — |
| —Avis Budget Group, Inc | Q4 2004 – Q3 2006 | 7% | Still filing with the SEC |