# Stevens First Principles Investment Advisors

> Institutional holdings reported to the SEC as of Q2 2019 on Form 13F. CIK 1388076. Source: https://holderbook.com/funds/1388076-stevens-first-principles-investment-advisors/

- Reported value: $172.2M
- Positions: 165
- Weight of the ten largest: 43.9%
- Filed: 2019-07-22

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $11.1M | 142,895 | 6.4% | 3 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $10.8M | 94,241 | 6.3% | 3 |
| WESTERN AST INFL LKD OPP & I | [WIW](https://holderbook.com/stocks/WIW/) | $9.5M | 852,703 | 5.5% | 3 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $7.6M | 38,107 | 4.4% | 3 |
| CHURCH & DWIGHT CO INC | [CHD](https://holderbook.com/stocks/CHD/) | $7.2M | 98,380 | 4.2% | 3 |
| WEYERHAEUSER CO | [WY](https://holderbook.com/stocks/WY/) | $6.3M | 240,808 | 3.7% | 3 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $6.2M | 30,405 | 3.6% | 3 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $5.6M | 79,858 | 3.3% | 3 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $5.6M | 42,059 | 3.3% | 3 |
| NUVEEN MUN VALUE FD INC | [NUV](https://holderbook.com/stocks/NUV/) | $5.6M | 550,086 | 3.3% | 3 |
| POTLATCHDELTIC CORPORATION | [PCH](https://holderbook.com/stocks/PCH/) | $5.1M | 131,771 | 3.0% | 3 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $4.9M | 147,628 | 2.9% | 3 |
| ARCHER DANIELS MIDLAND CO | [ADM](https://holderbook.com/stocks/ADM/) | $4.9M | 119,887 | 2.8% | 3 |
| BERKLEY W R CORP | [WRB](https://holderbook.com/stocks/WRB/) | $4.5M | 67,657 | 2.6% | 3 |
| DOW HLDGS INC | [DOW](https://holderbook.com/stocks/DOW/) | $4.3M | 87,284 | 2.5% | 1 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $4.1M | 16,348 | 2.4% | 3 |
| TOTALENERGIES SE | [TTE](https://holderbook.com/stocks/TTE/) | $4.0M | 71,312 | 2.3% | 3 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $3.8M | 49,126 | 2.2% | 3 |
| ELBIT SYS LTD | [ESLT](https://holderbook.com/stocks/ESLT/) | $3.8M | 25,096 | 2.2% | 3 |
| ALLSTATE CORP | [ALL](https://holderbook.com/stocks/ALL/) | $3.5M | 34,554 | 2.0% | 3 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $3.4M | 62,251 | 2.0% | 3 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $3.0M | 44,174 | 1.7% | 3 |
| DOMINION ENERGY INC | [D](https://holderbook.com/stocks/D/) | $2.9M | 37,167 | 1.7% | 3 |
| LUCKIN COFFEE INC | [LKNCY](https://holderbook.com/stocks/LKNCY/) | $2.6M | 135,835 | 1.5% | 1 |
| VIACOM INC NEW | [VIAB](https://holderbook.com/stocks/VIAB/) | $2.6M | 85,947 | 1.5% | 3 |
| MUELLER WTR PRODS INC | [MWA](https://holderbook.com/stocks/MWA/) | $2.5M | 253,926 | 1.4% | 3 |
| HD SUPPLY HLDGS INC | [HDS](https://holderbook.com/stocks/HDS/) | $2.4M | 58,811 | 1.4% | 3 |
| RAYONIER INC | [RYN](https://holderbook.com/stocks/RYN/) | $2.3M | 76,611 | 1.3% | 3 |
| MOOG INC | [MOGA](https://holderbook.com/stocks/MOGA/) | $2.3M | 24,479 | 1.3% | 3 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $1.9M | 23,205 | 1.1% | 3 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $1.7M | 31,249 | 1.0% | 3 |
| AGCO CORP | [AGCO](https://holderbook.com/stocks/AGCO/) | $1.6M | 21,108 | 1.0% | 3 |
| GLAXOSMITHKLINE PLC | [GSKXXXX](https://holderbook.com/stocks/GSKXXXX/) | $1.6M | 39,575 | 0.9% | 3 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $1.5M | 34,897 | 0.9% | 3 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $1.4M | 7,562 | 0.8% | 3 |
| XYLEM INC | [XYL](https://holderbook.com/stocks/XYL/) | $1.4M | 16,255 | 0.8% | 3 |
| DUPONT DE NEMOURS INC | [DD](https://holderbook.com/stocks/DD/) | $1.3M | 17,724 | 0.8% | 1 |
| TEXTRON INC | [TXT](https://holderbook.com/stocks/TXT/) | $1.3M | 23,955 | 0.7% | 3 |
| CYBERARK SOFTWARE LTD | [CYBR](https://holderbook.com/stocks/CYBR/) | $1.2M | 9,525 | 0.7% | 3 |
| KAMAN CORP | [KAMN](https://holderbook.com/stocks/KAMN/) | $1.1M | 17,187 | 0.6% | 3 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.1M | 5,500 | 0.6% | 3 |
| ROYAL DUTCH SHELL PLC | [RDSB](https://holderbook.com/stocks/RDSB/) | $757.0K | 11,516 | 0.4% | 3 |
| HEXCEL CORP NEW | [HXL](https://holderbook.com/stocks/HXL/) | $668.0K | 8,265 | 0.4% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $584.0K | 3,025 | 0.3% | 3 |
| REPUBLIC SVCS INC | [RSG](https://holderbook.com/stocks/RSG/) | $577.0K | 6,655 | 0.3% | 3 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $528.0K | 2,860 | 0.3% | 3 |
| CORTEVA INC | [CTVA](https://holderbook.com/stocks/CTVA/) | $524.0K | 17,724 | 0.3% | 1 |
| ROYAL GOLD INC | [RGLD](https://holderbook.com/stocks/RGLD/) | $512.0K | 5,000 | 0.3% | 3 |
| SENSIENT TECHNOLOGIES CORP | [SXT](https://holderbook.com/stocks/SXT/) | $478.0K | 6,500 | 0.3% | 3 |
| SEABOARD CORP DEL | [SEB](https://holderbook.com/stocks/SEB/) | $426.0K | 103 | 0.2% | 3 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $420.0K | 3,200 | 0.2% | 3 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $339.0K | 7,885 | 0.2% | 3 |
| VANGUARD SCOTTSDALE FDS | [VCIT](https://holderbook.com/stocks/VCIT/) | $320.0K | 3,561 | 0.2% | 3 |
| EAGLE MATLS INC | [EXP](https://holderbook.com/stocks/EXP/) | $313.0K | 3,375 | 0.2% | 3 |
| TOOTSIE ROLL INDS INC | [TR](https://holderbook.com/stocks/TR/) | $302.0K | 8,173 | 0.2% | 3 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $296.0K | 2,213 | 0.2% | 3 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $286.0K | 3,441 | 0.2% | 2 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $254.0K | 3,024 | 0.1% | 3 |
| AON PLC | [AONXXXX](https://holderbook.com/stocks/AONXXXX/) | $243.0K | 1,257 | 0.1% | 3 |
| VEEVA SYS INC | [VEEV](https://holderbook.com/stocks/VEEV/) | $221.0K | 1,365 | 0.1% | 3 |
| KIMBERLY-CLARK CORP | [KMB](https://holderbook.com/stocks/KMB/) | $213.0K | 2,900 | 0.1% | 3 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $205.0K | 1,467 | 0.1% | 3 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $197.0K | 1,129 | 0.1% | 3 |
| PPL CORP | [PPL](https://holderbook.com/stocks/PPL/) | $191.0K | 6,147 | 0.1% | 3 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $186.0K | 1,102 | 0.1% | 3 |
| BROWN FORMAN CORP | [BFB](https://holderbook.com/stocks/BFB/) | $181.0K | 3,269 | 0.1% | 3 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $178.0K | 3,931 | 0.1% | 3 |
| MAUI LD & PINEAPPLE INC | [MLP](https://holderbook.com/stocks/MLP/) | $175.0K | 17,000 | 0.1% | 3 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $154.0K | 420 | 0.1% | 3 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $148.0K | 1,886 | 0.1% | 3 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $143.0K | 1,700 | 0.1% | 3 |
| CITIZENS HLDG CO MISS | [CIZN](https://holderbook.com/stocks/CIZN/) | $136.0K | 6,580 | 0.1% | 3 |
| ISHARES TR | [HDV](https://holderbook.com/stocks/HDV/) | $108.0K | 1,139 | 0.1% | 3 |
| US FOODS HLDG CORP | [USFD](https://holderbook.com/stocks/USFD/) | $105.0K | 2,925 | 0.1% | 3 |
| CKX LDS INC | [CKX](https://holderbook.com/stocks/CKX/) | $103.0K | 10,565 | 0.1% | 2 |
| SCOTTS MIRACLE-GRO CO | [SMG](https://holderbook.com/stocks/SMG/) | $101.0K | 1,030 | 0.1% | 3 |
| WAFD INC | [WAFD](https://holderbook.com/stocks/WAFD/) | $100.0K | 2,855 | 0.1% | 3 |
| POLARIS INC | [PII](https://holderbook.com/stocks/PII/) | $97.0K | 1,060 | 0.1% | 3 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $95.0K | 50 | 0.1% | 3 |
| AUBURN NATL BANCORP | [AUBN](https://holderbook.com/stocks/AUBN/) | $84.0K | 2,520 | 0.0% | 3 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $84.0K | 1,477 | 0.0% | 3 |
| LIMONEIRA CO | [LMNR](https://holderbook.com/stocks/LMNR/) | $83.0K | 4,170 | 0.0% | 3 |
| ADAMS DIVERSIFIED EQUITY FD | [ADX](https://holderbook.com/stocks/ADX/) | $78.0K | 5,060 | 0.0% | 3 |
| OIL DRI CORP AMER | [ODC](https://holderbook.com/stocks/ODC/) | $71.0K | 2,095 | 0.0% | 3 |
| LIBERTY BROADBAND CORP | [LBRDA](https://holderbook.com/stocks/LBRDA/) | $68.0K | 666 | 0.0% | 3 |
| OUTFRONT MEDIA INC | [OUTXXXX](https://holderbook.com/stocks/OUTXXXX/) | $68.0K | 2,635 | 0.0% | 1 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $66.0K | 357 | 0.0% | 3 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $64.0K | 220 | 0.0% | 3 |
| KANSAS CITY SOUTHERN | [KSU](https://holderbook.com/stocks/KSU/) | $63.0K | 520 | 0.0% | 3 |
| ALASKA AIR GROUP INC | [ALK](https://holderbook.com/stocks/ALK/) | $59.0K | 925 | 0.0% | 3 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $56.0K | 510 | 0.0% | 3 |
| ISHARES TR | [TIP](https://holderbook.com/stocks/TIP/) | $55.0K | 479 | 0.0% | 3 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $54.0K | 1,124 | 0.0% | 3 |
| TRINITY INDS INC | [TRN](https://holderbook.com/stocks/TRN/) | $46.0K | 2,200 | 0.0% | 3 |
| VENTAS INC | [VTR](https://holderbook.com/stocks/VTR/) | $45.0K | 655 | 0.0% | 3 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $42.0K | 286 | 0.0% | 3 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $41.0K | 199 | 0.0% | 3 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $38.0K | 180 | 0.0% | 3 |
| SUN LIFE FINANCIAL INC. | [SLF](https://holderbook.com/stocks/SLF/) | $38.0K | 920 | 0.0% | 3 |
| SOUTHERN MO BANCORP INC | [SMBC](https://holderbook.com/stocks/SMBC/) | $35.0K | 1,000 | 0.0% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2019 | +3.1% | +3.7% | -0.6% | 100% |
| Q1 2019 | +13.2% | +13.0% | +0.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2019 | $172.2M | 165 |
| Q1 2019 | $167.9M | 156 |
| Q4 2018 | $147.7M | 155 |