Torray Funds

Torray Fund

TORYX

Strategy​

We view common stock ownership as an investment in a business. As a long-term investor, we employ a value-oriented approach to security selection. We seek to invest in companies when we believe that valuations are modest relative to earnings, cash-flow or asset values. Our focus is on fundamental business analysis, with no attempt to forecast market trends or mirror market indices. We strive to limit risk through investment in large cap companies that generally have demonstrated records of profitability, conservative financial structures and shareholder-oriented management. Although the Fund is subject to concentration risk, the portfolio is diversified at both the sector and company levels to help mitigate risk. 

Torray Fund

09/26/2018 The Torray Fund paid an ordinary income dividend of $0.160017 per share.

Business Characteristics
We Favor

  • Free cash flow generation
  • Sustainable competitive advantage
  • High returns on capital
  • Capital allocation discipline

Our Portfolios

Our portfolios are prudently diversified, usually holding 25-40 stocks. Limits on the weight of individual investment positions and economic sector exposure are used to avoid excessive concentration.

Sell Discipline

Positions may be reduced or sold if:
  • A superior investment opportunity is identified
  • The original investment thesis changes
  • The investment has become significantly overvalued
1The S&P 500 Index is a widely recognized unmanaged index of equity prices and is representative of a broader market and range of securities than is found in the Fund’s portfolio. The Index returns do not reflect the deduction of expenses, which have been deducted from the Fund’s returns. The Index return assumes reinvestment of all distributions and does not reflect the deduction of taxes and fees.

Fund Facts

TickerTORYX
Cusip891402109
Inception12/31/1990
Fund Assets$425 Million (as of 9/30/18)
Sales ChargeNone
Min. Initial Inv.$2,000

Reports & Prospectuses