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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
GIGACLOUD TECHNOLOGY INCG38644103 · GCT CLASS A ORD $1.7m 43,286
GILEAD SCIENCES INC375558103 · GILD COM $105.7m 861,496
GLOBAL PMTS INC37940X102 · GPN COM $146.2m 1,888,747
GLOBAL PMTS INC37940XAU6 NOTE 1.500% 3/0 $23.8m 26,505,000
GLOBE LIFE INC37959E102 · GL COM $13.7m 98,154
GOLD COM INC00181T107 · GOLD COM $1.9m 56,400
GOLDMAN SACHS GROUP INC38141G104 · GS COM $226.4m 257,578
GOODYEAR TIRE & RUBR CO382550101 · GT COM $10.1m 1,158,638
GRAHAM HLDGS CO384637104 · GHC COM CL B $9.7m 8,820
GREAT LAKES DREDGE & DOCK CO390607109 COM $3.6m 271,720
GREAT SOUTHN BANCORP INC390905107 · GSBC COM $1.5m 24,384
GREEN BRICK PARTNERS INC392709101 · GRBK COM $11.0m 175,449
GREEN PLAINS INC393222104 · GPRE COM $1.6m 159,390
GREIF INC397624107 · GEF CL A $4.4m 64,712
GROUP 1 AUTOMOTIVE INC398905109 · GPI COM $16.0m 40,676
GSK PLC37733W204 · GSK SPONSORED ADR $54.7m 1,116,087
H2O AMERICA784305104 · HTO COM $4.0m 81,927
HALLIBURTON CO406216101 · HAL COM $16.6m 586,599
HALOZYME THERAPEUTICS INC40637H109 · HALO COM $5.5m 81,836
HAMILTON INSURANCE GROUP LTDG42706104 · HG CL B $4.5m 160,708
HANCOCK WHITNEY CORPORATION410120109 · HWC COM $5.1m 80,537
HANMI FINL CORP410495204 · HAFC COM NEW $491,676 18,190
HARLEY DAVIDSON INC412822108 · HOG COM $5.5m 270,744
HARMONY BIOSCIENCES HLDGS IN413197104 · HRMY COM $3.2m 85,722
HARTFORD INSURANCE GROUP INC416515104 · HIG COM $48.4m 351,366
HASBRO INC418056107 · HAS COM $6.3m 76,383
HCA HEALTHCARE INC40412C101 · HCA COM $89.4m 191,451
HEALTHPEAK PROPERTIES INC42250P103 · DOC COM $55.4m 3,446,910
HENRY SCHEIN INC806407102 · HSIC COM $6.3m 83,425
HERITAGE COMM CORP426927109 COM $441,127 36,730
HERITAGE INSURANCE HLDGS INC42727J102 · HRTG COM $1.5m 51,500
HF SINCLAIR CORP403949100 · DINO COM $6.1m 131,452
HILLTOP HOLDINGS INC432748101 · HTH COM $5.0m 148,775
HOMETRUST BANCSHARES INC437872104 · HTB COM $1.6m 36,338
HONEYWELL INTL INC438516106 COM $88.3m 452,541
HOPE BANCORP INC43940T109 · HOPE COM $866,103 79,024
HORACE MANN EDUCATORS CORP N440327104 · HMN COM $3.3m 71,180
HORIZON BANCORP INC440407104 · HBNC COM $434,346 25,610
HORMEL FOODS CORP440452100 · HRL COM $1.4m 61,176
HOST HOTELS & RESORTS INC44107P104 · HST COM $56.1m 3,163,450
HOWARD HUGHES HOLDINGS INC44267T102 · HHH COM $41.9m 524,951
HP INC40434L105 · HPQ COM $6.9m 311,249
HUDSON TECHNOLOGIES INC444144109 · HDSN COM $154,810 22,600
HUMANA INC444859102 · HUM COM $80.4m 313,859
HUNTINGTON INGALLS INDS INC446413106 · HII COM $8.5m 24,982
HYATT HOTELS CORP448579102 · H COM CL A $7.3m 45,243
IAC INC44891N208 · PPLI COM NEW $11.8m 302,056
ICON PLCG4705A100 · ICLR SHS $71.7m 399,813
ILLINOIS TOOL WKS INC452308109 · ITW COM $31.0m 125,737
INDEPENDENT BK CORP MASS453836108 · INDB COM $2.2m 29,709
INDEPENDENT BK CORP MICH453838609 · IBCP COM NEW $765,691 23,538
INGEVITY CORP45688C107 · NGVT COM $4.2m 71,792
INGLES MKTS INC457030104 · IMKTA CL A $4.1m 59,234
INGREDION INC457187102 · INGR COM $12.3m 111,575
INNOVIVA INC45781M101 · INVA COM $2.2m 111,711
INTERNATIONAL BANCSHARES COR459044103 COM $8.6m 129,565
INTERNATIONAL BUSINESS MACHS459200101 · IBM COM $107.9m 364,334
INTERNATIONAL SEAWAYS INCY41053102 · INSW COM $5.9m 120,975
INTREPID POTASH INC46121Y201 · IPI COM $1.5m 53,690
INVESCO LTDG491BT108 · IVZ SHS $3.3m 123,780
ISHARES TR464287408 S&P 500 VAL ETF $10,816 51
ISHARES TR464287473 RUS MDCP VAL ETF $34,839 247
ISHARES TR464287598 RUS 1000 VAL ETF $51.0m 242,573
ISHARES TR464287630 RUS 2000 VAL ETF $27,363 151
ITAU UNIBANCO HLDG S A465562106 SPON ADR REP PFD $3.5m 494,995
JABIL INC466313103 · JBL COM $37.2m 162,984
JAMES RIV GROUP HOLDINGS INC46990A102 · JRVR COM SHS $166,441 26,170
JAZZ PHARMACEUTICALS PLCG50871105 · JAZZ SHS USD $6.2m 36,197
JOHNSON & JOHNSON478160104 · JNJ COM $403.8m 1,951,088
JOHNSON OUTDOORS INC479167108 · JOUT CL A $949,819 22,375
JONES LANG LASALLE INC48020Q107 · JLL COM $10.2m 30,358
JPMORGAN CHASE & CO.46625H100 · JPM COM $443.0m 1,374,890
KB HOME48666K109 · KBH COM $8.4m 148,390
KEARNY FINL CORP MD48716P108 · KRNY COM $233,786 31,550
KEURIG DR PEPPER INC49271V100 · KDP COM $26.2m 935,907
KIMBALL ELECTRONICS INC49428J109 · KE COM $2.7m 97,590
KIMBERLY-CLARK CORP494368103 · KMB COM $93.0m 922,106
KINDER MORGAN INC DEL49456B101 · KMI COM $42.7m 1,553,215
KOHLS CORP500255104 · KSS COM $5.2m 256,874
KOPPERS HOLDINGS INC50060P106 · KOP COM $1.2m 44,880
KRAFT HEINZ CO500754106 · KHC COM $17.0m 701,240
KROGER CO501044101 · KR COM $209.8m 3,357,243
LABCORP HOLDINGS INC504922105 · LH COM SHS $14.5m 57,620
LAS VEGAS SANDS CORP517834107 · LVS COM $26.5m 407,676
LAUDER ESTEE COS INC518439104 · EL CL A $46.0m 439,378
LEAR CORP521865204 · LEA COM NEW $11.6m 101,635
LEGGETT & PLATT INC524660107 COM $718,806 65,346
LEIDOS HOLDINGS INC525327102 · LDOS COM $31.8m 176,036
LENDINGCLUB CORP52603A208 · HAPN COM NEW $4.3m 224,426
LENNAR CORP526057104 · LEN CL A $8.9m 87,008
LITHIA MTRS INC536797103 · LAD COM $5.7m 17,260
LOCKHEED MARTIN CORP539830109 · LMT COM $108.9m 225,122
LOEWS CORP540424108 · L COM $13.2m 125,317
LOWES COS INC548661107 · LOW COM $100.7m 417,673
LSB INDS INC502160104 · LXU COM $2.4m 287,280
M & T BK CORP55261F104 · MTB COM $117.7m 584,386
M/I HOMES INC55305B101 · MHO COM $8.3m 64,719
MACYS INC55616P104 · M COM $11.3m 511,406
MAGNA INTL INC559222401 · MGA COM $52.4m 982,886
MAGNOLIA OIL & GAS CORP559663109 · MGY CL A $16.0m 731,423

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.