# Cubic Asset Management, LLC

> Institutional holdings reported to the SEC as of Q1 2024 on Form 13F. CIK 1424322. Source: https://holderbook.com/funds/1424322-cubic-asset-management-llc/

- Reported value: $422.4M
- Positions: 202
- Weight of the ten largest: 28.8%
- Filed: 2024-04-24

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 |
|---|---|---|---|---|---|
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $25.4M | 60,298 | 6.0% | 22 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $17.3M | 35,600 | 4.1% | 9 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $13.9M | 91,546 | 3.3% | 22 |
| PNC FINL SVCS GROUP INC | [PNC](https://holderbook.com/stocks/PNC/) | $12.8M | 79,057 | 3.0% | 22 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $10.9M | 25,888 | 2.6% | 22 |
| ALLSTATE CORP | [ALL](https://holderbook.com/stocks/ALL/) | $10.2M | 58,874 | 2.4% | 22 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $8.1M | 35,433 | 1.9% | 22 |
| AFLAC INC | [AFL](https://holderbook.com/stocks/AFL/) | $7.9M | 92,389 | 1.9% | 22 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $7.8M | 26,967 | 1.8% | 22 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $7.6M | 29,722 | 1.8% | 13 |
| LKQ CORP | [LKQ](https://holderbook.com/stocks/LKQ/) | $7.6M | 141,488 | 1.8% | 22 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $7.2M | 39,689 | 1.7% | 22 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $7.1M | 17,079 | 1.7% | 22 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $7.1M | 39,333 | 1.7% | 13 |
| OMNICOM GROUP INC | [OMC](https://holderbook.com/stocks/OMC/) | $7.0M | 72,489 | 1.7% | 22 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $6.7M | 13,933 | 1.6% | 3 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $6.6M | 105,008 | 1.6% | 22 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $6.2M | 78,038 | 1.5% | 22 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $5.9M | 11,883 | 1.4% | 22 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $5.7M | 36,055 | 1.4% | 22 |
| DELTA AIR LINES INC | [DAL](https://holderbook.com/stocks/DAL/) | $5.7M | 118,264 | 1.3% | 22 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $5.6M | 27,042 | 1.3% | 22 |
| GENUINE PARTS CO | [GPC](https://holderbook.com/stocks/GPC/) | $5.5M | 35,810 | 1.3% | 22 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $5.3M | 43,274 | 1.3% | 8 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $5.3M | 119,042 | 1.2% | 22 |
| GROUP 1 AUTOMOTIVE INC | [GPI](https://holderbook.com/stocks/GPI/) | $5.0M | 16,956 | 1.2% | 22 |
| THE CIGNA GROUP | [CI](https://holderbook.com/stocks/CI/) | $4.7M | 12,871 | 1.1% | 19 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $4.4M | 158,412 | 1.0% | 22 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $4.2M | 21,316 | 1.0% | 22 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $3.9M | 77,427 | 0.9% | 22 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $3.8M | 4,220 | 0.9% | 13 |
| KIMBERLY-CLARK CORP | [KMB](https://holderbook.com/stocks/KMB/) | $3.7M | 28,606 | 0.9% | 22 |
| GENERAC HLDGS INC | [GNRC](https://holderbook.com/stocks/GNRC/) | $3.6M | 28,451 | 0.8% | 3 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $3.6M | 12,803 | 0.8% | 18 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $3.6M | 6,807 | 0.8% | 22 |
| THE TRADE DESK INC | [TTD](https://holderbook.com/stocks/TTD/) | $3.5M | 40,000 | 0.8% | 3 |
| LINCOLN NATL CORP IND | [LNC](https://holderbook.com/stocks/LNC/) | $3.3M | 103,735 | 0.8% | 1 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $3.3M | 25,094 | 0.8% | 22 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $3.2M | 32,921 | 0.8% | 16 |
| TE CONNECTIVITY LTD | [TELXXXX](https://holderbook.com/stocks/TELXXXX/) | $3.2M | 22,035 | 0.8% | 22 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $3.1M | 71,753 | 0.7% | 22 |
| ARES CAPITAL CORP | [ARCC](https://holderbook.com/stocks/ARCC/) | $3.1M | 149,118 | 0.7% | 22 |
| DOW HLDGS INC | [DOW](https://holderbook.com/stocks/DOW/) | $3.0M | 51,965 | 0.7% | 19 |
| M/I HOMES INC | [MHO](https://holderbook.com/stocks/MHO/) | $3.0M | 22,005 | 0.7% | 14 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $2.7M | 71,803 | 0.6% | 22 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $2.6M | 41,196 | 0.6% | 3 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $2.6M | 62,578 | 0.6% | 22 |
| BANK OF NY MELLON CORP | [BNY](https://holderbook.com/stocks/BNY/) | $2.5M | 44,170 | 0.6% | 22 |
| SNAP ON INC | [SNA](https://holderbook.com/stocks/SNA/) | $2.5M | 8,454 | 0.6% | 14 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $2.5M | 45,710 | 0.6% | 22 |
| INTERNATIONAL PAPER CO | [IP](https://holderbook.com/stocks/IP/) | $2.4M | 62,051 | 0.6% | 22 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $2.4M | 21,245 | 0.6% | 22 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $2.4M | 47,865 | 0.6% | 22 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $2.3M | 23,493 | 0.5% | 22 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $2.2M | 13,057 | 0.5% | 14 |
| IRON MTN INC DEL | [IRM](https://holderbook.com/stocks/IRM/) | $2.2M | 27,525 | 0.5% | 14 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $2.2M | 48,466 | 0.5% | 10 |
| COHERENT CORP | [COHR](https://holderbook.com/stocks/COHR/) | $2.1M | 35,012 | 0.5% | 7 |
| ITT INC | [ITT](https://holderbook.com/stocks/ITT/) | $2.1M | 15,540 | 0.5% | 22 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $2.0M | 23,010 | 0.5% | 22 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $1.9M | 24,372 | 0.5% | 22 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.9M | 16,356 | 0.5% | 22 |
| AVNET INC | [AVT](https://holderbook.com/stocks/AVT/) | $1.9M | 37,910 | 0.4% | 10 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $1.8M | 18,208 | 0.4% | 10 |
| AMETEK INC | [AME](https://holderbook.com/stocks/AME/) | $1.8M | 9,900 | 0.4% | 3 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $1.8M | 100,369 | 0.4% | 22 |
| DYCOM INDS INC | [DY](https://holderbook.com/stocks/DY/) | $1.7M | 11,862 | 0.4% | 3 |
| D R HORTON INC | [DHI](https://holderbook.com/stocks/DHI/) | $1.6M | 10,000 | 0.4% | 22 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $1.6M | 7,809 | 0.4% | 22 |
| LCI INDS | [LCII](https://holderbook.com/stocks/LCII/) | $1.6M | 12,884 | 0.4% | 22 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $1.5M | 20,867 | 0.4% | 22 |
| CRANE COMPANY | [CR](https://holderbook.com/stocks/CR/) | $1.5M | 10,789 | 0.3% | 3 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $1.4M | 8,898 | 0.3% | 22 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $1.4M | 6,244 | 0.3% | 22 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $1.4M | 1,830 | 0.3% | 18 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $1.4M | 3,988 | 0.3% | 22 |
| LEGGETT & PLATT INC | [LEG](https://holderbook.com/stocks/LEG/) | $1.4M | 73,126 | 0.3% | 11 |
| UFP INDUSTRIES INC | [UFPI](https://holderbook.com/stocks/UFPI/) | $1.4M | 11,315 | 0.3% | 14 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $1.4M | 11,025 | 0.3% | 22 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $1.3M | 3,200 | 0.3% | 22 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.3M | 6,570 | 0.3% | 16 |
| METLIFE INC | [MET](https://holderbook.com/stocks/MET/) | $1.3M | 17,110 | 0.3% | 17 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $1.2M | 9,611 | 0.3% | 22 |
| CARDINAL HEALTH INC | [CAH](https://holderbook.com/stocks/CAH/) | $1.2M | 10,865 | 0.3% | 16 |
| LANDSTAR SYS INC | [LSTR](https://holderbook.com/stocks/LSTR/) | $1.2M | 6,290 | 0.3% | 22 |
| SPECTRUM BRANDS HOLDINGS INC | [SPB](https://holderbook.com/stocks/SPB/) | $1.2M | 13,459 | 0.3% | 22 |
| AON PLC | [AONXXXX](https://holderbook.com/stocks/AONXXXX/) | $1.2M | 3,492 | 0.3% | 22 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $1.1M | 29,132 | 0.3% | 22 |
| TAYLOR MORRISON HOME CORP | [TMHC](https://holderbook.com/stocks/TMHC/) | $1.1M | 17,336 | 0.3% | 17 |
| GENTEX CORP | [GNTX](https://holderbook.com/stocks/GNTX/) | $1.1M | 29,540 | 0.3% | 16 |
| MODINE MFG CO | [MOD](https://holderbook.com/stocks/MOD/) | $1.1M | 11,100 | 0.3% | 22 |
| LENNAR CORP | [LEN](https://holderbook.com/stocks/LEN/) | $1.0M | 6,100 | 0.2% | 22 |
| WHIRLPOOL CORP | [WHR](https://holderbook.com/stocks/WHR/) | $1.0M | 8,700 | 0.2% | 6 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $992.5K | 3,520 | 0.2% | 3 |
| GENERAL MILLS INC | [GIS](https://holderbook.com/stocks/GIS/) | $990.1K | 14,150 | 0.2% | 14 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $961.4K | 17,541 | 0.2% | 16 |
| ASSURANT INC | [AIZ](https://holderbook.com/stocks/AIZ/) | $960.0K | 5,100 | 0.2% | 22 |
| JOHNSON CONTROLS INTERNATION | [JCI](https://holderbook.com/stocks/JCI/) | $952.3K | 14,579 | 0.2% | 22 |
| BAXTER INTL INC | [BAX](https://holderbook.com/stocks/BAX/) | $940.2K | 21,999 | 0.2% | 22 |
| PIONEER NAT RES CO | [PXD](https://holderbook.com/stocks/PXD/) | $925.0K | 3,524 | 0.2% | 22 |

## 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 |
|---|---|---|---|---|
| Q1 2024 | +10.2% | +10.0% | +0.2% | 100% |
| Q4 2023 | +10.6% | +11.2% | -0.6% | 100% |
| Q3 2023 | -3.8% | -3.6% | -0.3% | 99% |
| Q2 2023 | +4.9% | +8.3% | -3.4% | 99% |
| Q1 2023 | +2.1% | +7.0% | -4.9% | 99% |
| Q4 2022 | +11.9% | +7.1% | +4.8% | 99% |
| Q3 2022 | -7.9% | -5.3% | -2.6% | 100% |
| Q2 2022 | -12.3% | -16.5% | +4.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2024 | $422.4M | 202 |
| Q4 2023 | $389.2M | 204 |
| Q3 2023 | $363.5M | 201 |
| Q2 2023 | $371.7M | 201 |
| Q1 2023 | $357.6M | 196 |
| Q4 2022 | $349.8M | 196 |
| Q3 2022 | $336.0M | 194 |
| Q2 2022 | $370.5M | 195 |
| Q1 2022 | $429.4M | 197 |
| Q4 2021 | $441.6M | 205 |
| Q3 2021 | $404.0M | 187 |
| Q2 2021 | $405.2M | 185 |