Redmond Asset Management, LLC

Redmond Asset Management LLC publishes a 197-name 13F with no ETFs whatsoever — a deliberately all-single-stock, quality-filtered portfolio where the most distinctive selections sit just below the top mega-cap layer. Alphabet Class A (GOOGL, 3.6%, $14.2M) leads the book, followed by JPMorgan Chase (JPM, 3.2%), Microsoft (MSFT, 2.7%), and then two names that most institutional investors would recognize but few 13Fs hold meaningfully: Watsco (WSO, 2.6%, $10.2M), which effectively operates as a regional monopoly in U.S. HVAC distribution, and Markel Group (MKL, 2.5%), the specialty reinsurance compounder with a centuries-old underwriting culture. Both names epitomize the manager's filter: businesses with pricing power, network effects, or structural scale advantages held at 2–3% of assets rather than being diluted into a passive framework. The portfolio carries Charles Schwab (SCHW, 2.3%), Visa (V, 2.1%), Berkshire (BRK/B, 2.0%), Norfolk Southern (NSC, 1.9%), XPO (1.9%), Johnson & Johnson (JNJ, 1.6%), Omnicell (OMCL, 1.6%), Amazon (AMZN, 1.5%), and Insulet (PODD, 1.5%) below them. The Q1 rotation tells a coherent story within this quality filter: the manager cleared out seven positions — Unilever switched its holding from the ADR (904767704) to the primary UK listing (UL), Automatic Data Processing (ADP), Motorola Solutions (MSI), Procter & Gamble (PG), Oracle (ORCL), Autodesk (ADSK), and Digital Realty (DLR) — and replaced them with seven new initiations tilted toward transportation, logistics, and infrastructure: Knight-Swift Transportation (KNX, trucking), UPS, Hexcel (HXL, aerospace composites), Brookfield Infrastructure (BIPC), and Blackline (BL, financial close software). The common thread in the new names is cyclical recovery or infrastructure spending — a bet that the post-2024 rate-cut cycle will benefit capital-intensive and logistics businesses. With Financial Services leading the sector breakdown at $64M (16.4%) despite no concentrated bank bet, Technology at $58M (14.8%), and Communication Services at $25M, the portfolio reads as a genuinely diversified quality strategy with no sector above 17% of assets.