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Institution

Brandywine Global Investment Management, LLC

13F for December 31, 2025, filed February 11, 2026 · SEC CIK 829108 · Holdings history from December 31, 2007

The latest available holdings for this manager are dated December 31, 2025.

Reported value
$14.9bn
94% in companies we cover
Positions we cover
561
Largest JPM 3.0%
Copy, a year
+14.2%
S&P 500 +15.4%
Copy Sharpe ratio
0.75
S&P 500 0.88

Copy-performance statistics: November 18, 2011 to May 29, 2026. Holdings history can start earlier than the price data used for performance.

Historical holdings

Holdings across the available history, including securities outside our stock coverage. Select a date to view the holdings for that period.

Related reporting managers

SEC notices identify these reporting relationships. Each manager retains its own holdings history; changes in reporting scope can involve several managers.

601 reported entries for December 31, 2025.

IssuerClass / typeReported valueQuantity
CORECIVIC INC21871N101 · CXW COM $4.6m 239,527
CORMEDIX INC21900C308 · CRMD COM $2.1m 179,980
CORTEVA INC22052L104 · CTVA COM $31.8m 474,136
COVENANT LOGISTICS GROUP INC22284P105 · CVLG CL A $1.1m 50,838
CROWN HLDGS INC228368106 · CCK COM $11.2m 108,512
CRYOPORT INC229050307 · CYRX COM PAR $0.001 $1.1m 114,390
CSX CORP126408103 · CSX COM $43.6m 1,202,015
CULLEN FROST BANKERS INC229899109 · CFR COM $3.1m 24,755
CUMMINS INC231021106 · CMI COM $40.7m 79,643
CUSTOMERS BANCORP INC23204G100 · CUBI COM $4.8m 65,372
CVS HEALTH CORP126650100 · CVS COM $216.1m 2,723,074
D R HORTON INC23331A109 · DHI COM $56.4m 391,512
DARDEN RESTAURANTS INC237194105 · DRI COM $29.7m 161,426
DELL TECHNOLOGIES INC24703L202 · DELL CL C $29.6m 235,270
DELTA AIR LINES INC DEL247361702 · DAL COM NEW $127.6m 1,838,051
DELUXE CORP248019101 · DLX COM $3.1m 138,540
DEVON ENERGY CORP NEW25179M103 · DVN COM $40.7m 1,111,510
DIAGEO PLC25243Q205 SPON ADR NEW $46.8m 540,879
DIAMONDBACK ENERGY INC25278X109 · FANG COM $30.2m 200,936
DILLARDS INC254067101 · DDS CL A $9.5m 15,627
DIME CMNTY BANCSHARES INC25432X102 · DCOM COM $628,580 20,890
DINE BRANDS GLOBAL INC254423106 · DIN COM $769,753 23,950
DIODES INC254543101 · DIOD COM $3.4m 69,378
DISNEY WALT CO254687106 · DIS COM $195.3m 1,717,034
DOLLAR GEN CORP NEW256677105 · DG COM $166.5m 1,254,014
DOLLAR TREE INC256746108 · DLTR COM $27.2m 221,323
DONEGAL GROUP INC257701201 · DGICA CL A $1.1m 55,900
DOVER CORP260003108 · DOV COM $11.7m 59,770
DROPBOX INC26210C104 · DBX CL A $3.9m 140,685
DTE ENERGY CO233331107 · DTE COM $17.1m 132,758
DUKE ENERGY CORP NEW26441C204 · DUK COM NEW $50.0m 426,984
EAST WEST BANCORP INC27579R104 · EWBC COM $7.4m 65,681
EASTERN BANKSHARES INC27627N105 · EBC COM $3.4m 186,802
EBAY INC.278642103 · EBAY COM $75.5m 866,383
ECHOSTAR CORP278768106 · ECHO CL A $2,283 21
ECHOSTAR CORP278768AB2 NOTE 3.875%11/3 $80.9m 24,218,011
EDISON INTL281020107 · EIX COM $62.7m 1,043,859
EMBECTA CORP29082K105 · EMBC COMMON STOCK $1.7m 142,890
EMERGENT BIOSOLUTIONS INC29089Q105 · EBS COM $1.6m 130,310
EMPLOYERS HLDGS INC292218104 · EIG COM $2.4m 54,584
ENACT HLDGS INC29249E109 · ACT COM $3.7m 94,247
ENCOMPASS HEALTH CORP29261A100 · EHC COM $2.4m 22,375
ENCORE CAP GROUP INC292554102 · ECPG COM $2.8m 51,009
ENERSYS29275Y102 · ENS COM $13.5m 91,687
ENOVA INTL INC29357K103 · ENVA COM $10.1m 64,292
ENTERPRISE FINL SVCS CORP293712105 · EFSC COM $3.6m 66,111
EOG RES INC26875P101 · EOG COM $93.7m 892,095
EQUITABLE HLDGS INC29452E101 · EQH COM $9.4m 197,088
EQUITY BANCSHARES INC29460X109 · EQBK COM CL A $517,940 11,600
ESSENT GROUP LTDG3198U102 · ESNT COM $2.8m 43,150
ETHAN ALLEN INTERIORS INC297602104 · ETD COM $1.5m 64,554
EVEREST GROUP LTDG3223R108 · EG COM $8.5m 25,073
EVERGY INC30034W106 · EVRG COM $11.7m 161,668
EVERSOURCE ENERGY30040W108 · ES COM $55.8m 829,120
EXELIXIS INC30161Q104 · EXEL COM $16.5m 376,229
EXPEDIA GROUP INC30212P303 · EXPE COM NEW $23.7m 83,600
EXPRO GROUP HOLDINGS NVN3144W105 COM $3.5m 260,062
EXXON MOBIL CORP30231G102 COM $241.8m 2,009,194
EZCORP INC302301106 · EZPW CL A NON VTG $2.8m 141,978
F N B CORP302520101 · FNB COM $12.3m 718,908
F&G ANNUITIES & LIFE INC30190A104 · FG COMMON STOCK $241,679 7,834
F5 INC315616102 · FFIV COM $3.3m 13,002
FARMERS NATIONAL BANC CORP309627107 · FMNB COM $1.0m 75,755
FB FINL CORP30257X104 · FBK COM $5.2m 93,687
FEDERATED HERMES INC314211103 · FHI CL B $9.2m 177,533
FEDEX CORP31428X106 · FDX COM $159.8m 553,129
FIDELITY NATIONAL FINANCIAL31620R303 · FNF COM SHS $7.2m 131,234
FIFTH THIRD BANCORP316773100 · FITB COM $12.9m 275,823
FINANCIAL INSTNS INC317585404 · FISI COM $381,209 12,230
FIRST BANCORP N C318910106 · FBNC COM $1.3m 26,156
FIRST BANCORP P R318672706 · FBP COM NEW $3.6m 174,172
FIRST BUSEY CORP319383204 · BUSE COM NEW $4.2m 178,040
FIRST COMWLTH FINL CORP PA319829107 · FCF COM $3.6m 213,249
FIRST CTZNS BANCSHARES INC D31946M103 · FCNCA CL A $14.0m 6,525
FIRST FINANCIAL CORPORATION320218100 · THFF COM $430,795 7,130
FIRST FINL BANCORP OH320209109 · FFBC COM $4.8m 190,432
FIRST HAWAIIAN INC32051X108 · FHB COM $2.6m 104,195
FIRST HORIZON CORPORATION320517105 · FHN COM $13.4m 562,604
FIRST MERCHANTS CORP320817109 · FRME COM $1.4m 37,695
FIRST SOLAR INC336433107 · FSLR COM $19.3m 73,855
FIRSTENERGY CORP337932107 · FE COM $59.5m 1,329,624
FLEX LTDY2573F102 · FLEX ORD $23.6m 390,663
FMC CORP302491303 · FMC COM NEW $589,142 42,476
FORD MTR CO345370860 · F COM $36.0m 2,743,392
FOX CORP35137L105 · FOXA CL A COM $14.0m 191,066
FRESH DEL MONTE PRODUCE INCG36738105 · DMC ORD $6.9m 194,806
FULGENT GENETICS INC359664109 · FLGT COM $3.3m 125,210
FULTON FINL CORP PA360271100 · FULT COM $6.4m 328,957
G III APPAREL GROUP LTD36237H101 · GIII COM $2.8m 96,739
GAP INC364760108 · GAP COM $9.5m 370,999
GARRETT MOTION INC366505105 · GTX COM $8.6m 494,143
GE HEALTHCARE TECHNOLOGIES I36266G107 · GEHC COMMON STOCK $14.2m 173,634
GEN DIGITAL INC668771108 · GEN COM $11.7m 430,180
GENCO SHIPPING & TRADING LTDY2685T131 · GNK SHS $1.9m 104,870
GENERAL DYNAMICS CORP369550108 · GD COM $53.6m 159,113
GENERAL MTRS CO37045V100 · GM COM $114.9m 1,412,993
GENMAB A/S372303206 SPONSORED ADS $31.8m 1,031,464
GENPACT LIMITEDG3922B107 · G SHS $7.4m 158,214
GENUINE PARTS CO372460105 · GPC COM $12.0m 97,600
GENWORTH FINL INC37247D106 · GNW COM SHS $9.1m 1,006,060

Values use the units disclosed in the source. Where a dollar scale cannot be established, the original amount is shown as filed. Rows may include separate allocations, options and principal amounts; these are kept separate from the covered-stock portfolio used for performance.

How copying its 13F would have done

$10.0k$20.0k$40.0k$80.0k 20112013201520172019202120232025 $80.1k$68.7k
CopyS&P 500 $10,000 copying Brandywine Global Investment Management, LLC's usable filed holdings in companies we cover from November 18, 2011, rebalancing at the first weekly close after each usable filing and holding until the next, against the S&P 500 (total return). Missing prices carry their last observed value. Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −39.2% (S&P 500 −31.8%); beta 1.01; alpha −0.9% a year (t = −0.46); last 12 months +26.3% against +32.1%.

Reported value by quarter

Brandywine Global Investment Management, LLC: 13F reported value Total reported value where the source's dollar units can be established. Earlier filings in thousands of dollars are converted; dates with unresolved value units are omitted.
$0 $500B $1T Reported value, 2008-09-30: $902B Reported value, 2009-06-30: $899B Reported value, 2011-05-12: $901.5B Reported value, 2011-08-11: $901.4B Reported value, 2011-09-30: $7.7B Reported value, 2012-06-30: $9B Reported value, 2012-09-30: $9.2B Reported value, 2012-12-31: $8.7B Reported value, 2013-03-31: $901.7B Reported value, 2013-06-30: $9.7B Reported value, 2013-09-30: $10.1B Reported value, 2013-12-31: $10.9B Reported value, 2014-03-31: $11.5B Reported value, 2014-06-30: $12.8B Reported value, 2014-09-30: $13.6B Reported value, 2014-12-31: $14.9B Reported value, 2015-03-31: $15.5B Reported value, 2015-06-30: $16B Reported value, 2015-09-30: $15.3B Reported value, 2015-12-31: $15.7B Reported value, 2016-03-31: $15.3B Reported value, 2016-06-30: $14.8B Reported value, 2016-09-30: $15.2B Reported value, 2016-12-31: $15.7B Reported value, 2017-03-31: $15.8B Reported value, 2017-06-30: $15.7B Reported value, 2017-09-30: $15.8B Reported value, 2017-12-31: $16.7B Reported value, 2018-03-31: $15.9B Reported value, 2018-06-30: $15.7B Reported value, 2018-09-30: $16B Reported value, 2018-12-31: $13.5B Reported value, 2019-03-31: $14.5B Reported value, 2019-06-30: $14.5B Reported value, 2019-09-30: $13.6B Reported value, 2019-12-31: $14.2B Reported value, 2020-03-31: $8.4B Reported value, 2020-06-30: $9.8B Reported value, 2020-09-30: $10.2B Reported value, 2020-12-31: $12B Reported value, 2021-03-31: $13.3B Reported value, 2021-06-30: $13.5B Reported value, 2021-09-30: $13.2B Reported value, 2021-12-31: $14B Reported value, 2022-03-31: $13.7B Reported value, 2022-06-30: $11.5B Reported value, 2022-09-30: $10.7B Reported value, 2022-12-31: $12.8B Reported value, 2023-03-31: $24.8B Reported value, 2023-06-30: $12B Reported value, 2023-09-30: $11.4B Reported value, 2023-12-31: $12.4B Reported value, 2024-03-31: $13.8B Reported value, 2024-06-30: $13.4B Reported value, 2024-09-30: $15B Reported value, 2024-12-31: $13.8B Reported value, 2025-03-31: $13.9B Reported value, 2025-06-30: $14.2B Reported value, 2025-09-30: $14.6B Reported value, 2025-12-31: $14.9B 2008-09-30 2014-03-31 2017-03-31 2020-03-31 2023-03-31 2025-12-31 $14.9B
View chart data
Period Reported value
2008-09-30 $902B
2009-06-30 $899B
2011-05-12 $901.5B
2011-08-11 $901.4B
2011-09-30 $7.7B
2012-06-30 $9B
2012-09-30 $9.2B
2012-12-31 $8.7B
2013-03-31 $901.7B
2013-06-30 $9.7B
2013-09-30 $10.1B
2013-12-31 $10.9B
2014-03-31 $11.5B
2014-06-30 $12.8B
2014-09-30 $13.6B
2014-12-31 $14.9B
2015-03-31 $15.5B
2015-06-30 $16B
2015-09-30 $15.3B
2015-12-31 $15.7B
2016-03-31 $15.3B
2016-06-30 $14.8B
2016-09-30 $15.2B
2016-12-31 $15.7B
2017-03-31 $15.8B
2017-06-30 $15.7B
2017-09-30 $15.8B
2017-12-31 $16.7B
2018-03-31 $15.9B
2018-06-30 $15.7B
2018-09-30 $16B
2018-12-31 $13.5B
2019-03-31 $14.5B
2019-06-30 $14.5B
2019-09-30 $13.6B
2019-12-31 $14.2B
2020-03-31 $8.4B
2020-06-30 $9.8B
2020-09-30 $10.2B
2020-12-31 $12B
2021-03-31 $13.3B
2021-06-30 $13.5B
2021-09-30 $13.2B
2021-12-31 $14B
2022-03-31 $13.7B
2022-06-30 $11.5B
2022-09-30 $10.7B
2022-12-31 $12.8B
2023-03-31 $24.8B
2023-06-30 $12B
2023-09-30 $11.4B
2023-12-31 $12.4B
2024-03-31 $13.8B
2024-06-30 $13.4B
2024-09-30 $15B
2024-12-31 $13.8B
2025-03-31 $13.9B
2025-06-30 $14.2B
2025-09-30 $14.6B
2025-12-31 $14.9B

Latest covered holdings and moves

Covered holdings as of December 31, 2025.

CompanyShare of portfolioValueSharesChange in shares
JPMJPMorgan Chase2.97%$443.0m1.37M−4.8% Reduced
JNJJohnson & Johnson2.71%$403.8m1.95M−0.2%
BACBank of America2.20%$328.5m5.97M−2.0% Reduced
WFCWells Fargo2.14%$319.0m3.42M−1.0% Reduced
CCitigroup2.11%$314.7m2.70M−3.0% Reduced
TAT&T2.04%$303.8m12.23M+3.6% Added
GSGoldman Sachs1.52%$226.4m257.6K+49.0% Added
GOOGLAlphabet Inc. (Class A)1.48%$220.5m704.6K−2.3% Reduced
CVSCVS Health1.45%$216.1m2.72M−13.2% Reduced
KRKroger1.41%$209.8m3.36M+10.1% Added
CMCSAComcast1.40%$208.5m6.98M−17.0% Reduced
PEPPepsiCo1.34%$199.8m1.39M+42.4% Added
DISThe Walt Disney Company1.31%$195.3m1.72M+2.5% Added
VZVerizon1.18%$175.5m4.31M+4.1% Added
DGDollar General1.12%$166.5m1.25M−12.8% Reduced
FDXFedEx1.07%$159.8m553.1K+69.0% Added
MSMorgan Stanley1.04%$155.7m877.2K−1.9% Reduced
MDTMedtronic1.02%$152.2m1.58M+4.2% Added
GPNGlobal Payments0.98%$146.2m1.89M+14.4% Added
AMGNAmgen0.94%$140.0m427.7K+15.6% Added
QCOMQualcomm0.87%$129.4m756.3K−1.9% Reduced
DALDelta Air Lines0.85%$127.6m1.84M−5.8% Reduced
AERAercap Holdings N.V.0.84%$125.5m873.3K−24.9% Reduced
MTBM&T Bank0.79%$117.7m584.4K+24.0% Added
GMGeneral Motors0.77%$114.9m1.41M−51.2% Reduced
CRMSalesforce0.74%$110.0m415.2K+13.7% Added
LMTLockheed Martin0.73%$108.9m225.1K−0.9% Reduced
IBMIBM0.72%$107.9m364.3K−5.5% Reduced
WTWWillis Towers Watson0.72%$107.9m328.3K+13.3% Added
GILDGilead Sciences0.71%$105.7m861.5K+22.5% Added
LOWLowe's0.68%$100.7m417.7K−1.9% Reduced
ONON Semiconductor Corp0.67%$100.0m1.85M+17.5% Added
MRKMerck & Co.0.64%$95.3m905.8K+943.3% Added
EOGEOG Resources0.63%$93.7m892.1K+3.5% Added
KMBKimberly-Clark0.62%$93.0m922.1K+122.3% Added
ADBEAdobe Inc.0.62%$92.0m262.8K+21.5% Added
TMUST-Mobile US0.60%$89.4m440.3K+1.9% Added
HCAHCA Healthcare0.60%$89.4m191.5K−2.1% Reduced
UNPUnion Pacific Corporation0.60%$88.9m384.3K+39.3% Added
CICigna0.56%$83.0m301.7K+60.6% Added
METMetLife0.55%$82.6m1.05M+3.0% Added
HUMHumana0.54%$80.4m313.9K+31.7% Added
ANFAbercrombie & Fitch Co0.54%$80.3m637.8K−15.7% Reduced
CNQCanadian Natural Resources Ltd0.52%$77.4m2.29M−0.8% Reduced
SRESempra0.52%$76.8m869.7K−0.2%
EBAYeBay Inc.0.51%$75.5m866.4K−1.2% Reduced
CBChubb Limited0.48%$72.3m231.7K−1.9% Reduced
ICLRIcon PLC0.48%$71.7m399.8K+5.9% Added
NEMNewmont0.48%$71.2m713.0K−1.8% Reduced
PFEPfizer0.48%$71.2m2.86M+77.8% Added
PGProcter & Gamble0.46%$69.0m481.3K+98.9% Added
VTRSViatris0.45%$67.5m5.42M+22.1% Added
MOAltria0.45%$67.2m1.17M−1.4% Reduced
ADMArcher Daniels Midland0.45%$66.8m1.16M−0.9% Reduced
XELXcel Energy0.45%$66.7m902.4K−1.0% Reduced
PYPLPayPal0.44%$65.3m1.12M+0.6% Added
COPConocoPhillips0.43%$64.9m693.5K−0.4%
ALLAllstate0.43%$63.8m306.5K+20.7% Added
EIXEdison International0.42%$62.7m1.04M−0.9% Reduced
CSCOCisco0.42%$62.4m810.7K−63.2% Reduced
NLYAnnaly Capital Management Inc0.42%$62.0m2.77M−14.0% Reduced
RPRXRoyalty Pharma plc0.41%$61.0m1.58M+4.2% Added
SYYSysco0.40%$59.9m813.3K+1.6% Added
FEFirstEnergy0.40%$59.5m1.33M+1.9% Added
MMM3M0.40%$58.8m367.5K−1.8% Reduced
TRVThe Travelers Companies0.39%$58.3m200.9K−2.0% Reduced
SHELShell plc0.39%$57.4m781.0K−2.9% Reduced
PGRProgressive Corporation0.38%$57.1m250.9K−2.0% Reduced
DHID. R. Horton0.38%$56.4m391.5K+28.3% Added
BMRNBiomarin Pharmaceutical Inc0.38%$56.2m945.8K+4.4% Added
HSTHost Hotels & Resorts0.38%$56.1m3.16M−0.9% Reduced
ESEversource Energy0.37%$55.8m829.1K+4.6% Added
VNTVontier Corp0.37%$55.6m1.50M+8.1% Added
DOCHealthpeak Properties0.37%$55.4m3.45M+1.8% Added
GSKGSK plc0.37%$54.7m1.12M−2.4% Reduced
RRXRegal Rexnord Corp0.36%$54.4m387.4K−1.0% Reduced
SWSmurfit Westrock0.36%$53.7m1.40MNew
GDGeneral Dynamics0.36%$53.6m159.1K−1.8% Reduced
MGAMagna International Inc0.35%$52.4m982.9K−0.7% Reduced
AIGAmerican International Group0.35%$52.3m611.2K+36.3% Added
MIDDMiddleby Corp0.34%$50.2m337.9K+804.5% Added
BIDUBaidu, Inc.0.34%$50.2m384.3K+1.3% Added
DUKDuke Energy0.34%$50.0m427.0K−1.9% Reduced
HIGThe Hartford0.33%$48.4m351.4K+25.8% Added
CAGConagra Brands Inc.0.32%$47.3m2.73M+0.1%
CECelanese Corp0.32%$47.3m1.12M−0.3%
ELThe Estée Lauder Companies0.31%$46.0m439.4K−0.9% Reduced
CNHCNH Industrial N.V.0.31%$45.7m4.96M+186.1% Added
BNYBNY Mellon0.31%$45.6m392.7K−1.9% Reduced
CORCencora0.30%$45.2m133.8K−1.9% Reduced
TSNTyson Foods0.30%$44.4m757.6K−0.8% Reduced
SYFSynchrony Financial0.29%$43.7m523.7K+15.0% Added
CSXCSX Corporation0.29%$43.6m1.20M−26.8% Reduced
NRGNRG Energy0.29%$42.7m268.3K−27.3% Reduced
KMIKinder Morgan0.29%$42.7m1.55M−0.9% Reduced
HHHHoward Hughes Holdings Inc.0.28%$41.9m525.0K−1.5% Reduced
MDLZMondelez International0.28%$41.4m768.2K−1.9% Reduced
DVNDevon Energy0.27%$40.7m1.11M+63.6% Added
CMICummins0.27%$40.7m79.6K−1.9% Reduced
PCARPaccar0.27%$40.0m365.0K−1.1% Reduced
PNCPNC Financial Services0.27%$39.9m191.3K−2.0% Reduced
SLBSchlumberger0.25%$37.4m973.7K−20.9% Reduced
JBLJabil0.25%$37.2m163.0K−0.8% Reduced
PSXPhillips 660.24%$36.2m280.9K−2.0% Reduced
NVRNVR, Inc.0.24%$36.1m4.9K+2.3% Added
FFord Motor Company0.24%$36.0m2.74M−0.9% Reduced
VLOValero Energy0.24%$36.0m221.0K−2.2% Reduced
URIUnited Rentals0.24%$35.7m44.2K+3.9% Added
WMBWilliams Companies0.24%$35.7m594.4K−0.8% Reduced
PPGPPG Industries0.23%$34.9m341.0K+7.9% Added
AFLAflac0.23%$34.9m316.7K−1.9% Reduced
NTRSNorthern Trust0.23%$33.6m246.0K+23.3% Added
CTVACorteva, Inc.0.21%$31.8m474.1K−1.8% Reduced
LDOSLeidos0.21%$31.8m176.0K−1.4% Reduced
ITWIllinois Tool Works0.21%$31.0m125.7KNew
FANGDiamondback Energy0.20%$30.2m200.9KNew
DRIDarden Restaurants0.20%$29.7m161.4K+68.0% Added
DELLDell Technologies0.20%$29.6m235.3K−1.3% Reduced
USBU.S. Bancorp0.20%$29.5m552.9K−1.9% Reduced
LNGCheniere Energy, Inc.0.20%$29.1m149.6KNew
BKRBaker Hughes0.19%$28.9m635.3K−1.9% Reduced
BMYBristol Myers Squibb0.19%$28.5m529.0K+11.1% Added
CTSHCognizant0.19%$28.2m339.5K−2.0% Reduced
PEGPublic Service Enterprise Group0.19%$27.8m346.1K+13.0% Added
CSLCarlisle Companies Inc0.18%$27.6m86.3K+49.3% Added
WHRWhirlpool Corp0.18%$27.5m380.7K−20.0% Reduced
AMPAmeriprise Financial0.18%$27.2m55.5K−1.7% Reduced
DLTRDollar Tree0.18%$27.2m221.3K+75.3% Added
CFCF Industries0.18%$27.1m350.1K−1.1% Reduced
LVSLas Vegas Sands0.18%$26.5m407.7K−0.8% Reduced
KDPKeurig Dr Pepper0.18%$26.2m935.9K−1.9% Reduced
NUENucor0.17%$26.0m159.7K−1.7% Reduced
ORIOLD Republic International Corp0.17%$25.4m557.5K−1.1% Reduced
UALUnited Airlines Holdings0.17%$25.4m227.0K−1.0% Reduced
THCTenet Healthcare Corp0.17%$25.1m126.2K+20.5% Added
OIO-i Glass, Inc.0.17%$25.1m1.70MNew
SOSouthern Company0.16%$23.9m273.9K−2.0% Reduced
EXPEExpedia Group0.16%$23.7m83.6K−1.9% Reduced
FLEXFlex Ltd.0.16%$23.6m390.7K−0.9% Reduced
TFCTruist Financial0.15%$22.4m455.9K−1.5% Reduced
STTState Street Corporation0.15%$21.8m168.8K−1.9% Reduced
NXSTNexstar Media Group, Inc.0.15%$21.7m107.1K−0.6% Reduced
WMTWalmart0.14%$21.5m192.6K−50.3% Reduced
TROWT. Rowe Price0.14%$20.9m203.9K−1.4% Reduced
STLDSteel Dynamics0.14%$20.4m120.3K−27.7% Reduced
PRUPrudential Financial0.14%$20.2m178.6K−1.9% Reduced
FSLRFirst Solar, Inc.0.13%$19.3m73.9K−2.0% Reduced
RJFRaymond James Financial0.13%$19.1m118.8K−1.9% Reduced
ULTAUlta Beauty0.13%$18.9m31.2K+6.5% Added
AMZNAmazon0.13%$18.7m81.2K−0.9% Reduced
CompanyBought (value)Shares
MRKMerck & Co.$86.2m819.0K
GSGoldman Sachs$74.5m84.7K
FDXFedEx$65.2m225.9K
PEPPepsiCo$59.5m414.4K
SWSmurfit Westrock$53.7m1.40M
KMBKimberly-Clark$51.2m507.3K
MIDDMiddleby Corp$44.7m300.6K
PGProcter & Gamble$34.3m239.3K
CICigna$31.3m113.8K
PFEPfizer$31.1m1.25M
ITWIllinois Tool Works$31.0m125.7K
FANGDiamondback Energy$30.2m200.9K
CNHCNH Industrial N.V.$29.8m3.23M
LNGCheniere Energy, Inc.$29.1m149.6K
OIO-i Glass, Inc.$25.1m1.70M

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
GMGeneral Motors−$120.5m−1.48M
ABBVAbbVie−$115.0m−496.7K
CSCOCisco−$107.1m−1.39M
DEDeere & Company−$99.1m−216.7K
MUMicron Technology−$90.9m−318.4K
CRHCRH plc−$53.3m−441.8K
CVXChevron Corporation−$43.4m−284.8K
CMCSAComcast−$42.6m−1.43M
AERAercap Holdings N.V.−$41.5m−288.8K
NSCNorfolk Southern−$41.0m−136.4K
ABEVAmbev S.a.−$40.9m−16.56M
APOApollo Global Management−$36.9m−276.9K
AZNAstrazeneca PLC−$36.8m−400.4K
CCKCrown Holdings, Inc.−$35.6m−345.6K
CVSCVS Health−$32.9m−414.4K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
ABBVAbbVie$115.0m496.7K
DEDeere & Company$99.1m216.7K
CRHCRH plc$53.3m441.8K
NSCNorfolk Southern$41.0m136.4K
APOApollo Global Management$36.9m276.9K
OGNOrganon & Co.$23.6m2.21M
MGMMGM Resorts$23.4m675.4K
AMATApplied Materials$22.6m110.4K
CAHCardinal Health$22.4m142.5K
TRGPTarga Resources$15.4m92.1K
CLFCleveland-cliffs Inc.$15.3m1.26M
KVUEKenvue$14.6m900.2K
PFSIPennymac Financial Services, Inc.$13.4m108.4K
CGCarlyle Group Inc.$13.3m212.6K
HBANHuntington Bancshares$12.3m711.6K
EXPDExpeditors International$11.8m96.1K
HCCWarrior MET Coal, Inc.$10.1m159.4K
CPAYCorpay$9.8m33.9K
VACMarriott Vacations Worldwide Corp$9.6m143.5K
TAPMolson Coors Beverage Co$8.2m180.6K
BHFBrighthouse Financial, Inc.$7.8m147.4K
APTVAptiv$7.6m88.0K
ENREnergizer Holdings, Inc.$7.6m304.0K
CNXCConcentrix Corp$7.4m160.2K
KMPRKemper Corp$7.0m136.0K
DVADaVita$7.0m52.8K
EMNEastman Chemical Co$6.8m108.0K
ROIVRoivant Sciences Ltd.$6.7m443.5K
DCIDonaldson Co Inc$6.7m81.5K
CLVTClarivate PLC$6.5m1.71M
  • Financials27.4%
  • Health Care14.5%
  • Industrials9.7%
  • Communication Services9.5%
  • Consumer Staples9.2%
  • Consumer Discretionary8.3%
  • Technology6.7%
  • Energy5.7%
  • Utilities4.4%
  • Materials3.4%
  • Real Estate1.2%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestNovember 18, 2011 to May 29, 2026+14.2%+15.4%0.750.88−39.2%1.01
2018 onwardsJanuary 5, 2018 to May 29, 2026+10.7%+14.6%0.480.69−39.2%0.97
Last three yearsJune 2, 2023 to May 29, 2026+18.4%+22.6%0.961.15−14.6%0.74
Last yearMay 30, 2025 to May 29, 2026+24.6%+29.9%1.691.94−6.8%0.65

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.