undamentalytics Newsletter
Sign in

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
OLD REP INTL CORP680223104 · ORI COM $25.4m 557,475
OLD SECOND BANCORP INC ILL680277100 · OSBC COM $1.8m 90,620
ON SEMICONDUCTOR CORP682189105 · ON COM $100.0m 1,847,377
ONEMAIN HLDGS INC68268W103 · OMF COM $432,860 6,408
ONITY GROUP INC675746606 · ONIT COM NEW $209,260 4,570
OPPENHEIMER HLDGS INC683797104 · OPY CL A NON VTG $1.8m 25,558
ORIGIN BANCORP INC68621T102 COM $1.0m 26,901
ORRSTOWN FINL SVCS INC687380105 · ORRF COM $414,768 11,710
OSHKOSH CORP688239201 · OSK COM $5.7m 45,014
OTTER TAIL CORP689648103 · OTTR COM $6.7m 82,701
OVINTIV INC69047Q102 · OVV COM $7.0m 179,583
PACCAR INC693718108 · PCAR COM $40.0m 364,961
PACKAGING CORP AMER695156109 · PKG COM $12.8m 62,177
PATHWARD FINANCIAL INC59100U108 · CASH COM $3.7m 52,239
PAYPAL HLDGS INC70450Y103 · PYPL COM $65.3m 1,118,334
PBF ENERGY INC69318G106 · PBF CL A $7.2m 265,493
PEABODY ENERGY CORP704551100 · BTU COM $8.3m 278,781
PEDIATRIX MEDICAL GROUP INC58502B106 · MD COM $7.4m 344,023
PENSKE AUTOMOTIVE GRP INC70959W103 · PAG COM $7.4m 46,596
PEOPLES BANCORP INC709789101 · PEBO COM $2.2m 73,799
PEPSICO INC713448108 · PEP COM $199.8m 1,391,861
PERDOCEO ED CORP71363P106 · PRDO COM $6.3m 215,371
PFIZER INC717081103 · PFE COM $71.2m 2,857,645
PHILLIPS 66718546104 · PSX COM $36.2m 280,896
PHINIA INC71880K101 · PHIN COMMON STOCK $8.4m 133,554
PILGRIMS PRIDE CORP72147K108 · PPC COM $7.2m 183,641
PITNEY BOWES INC724479100 · PBI COM $5.3m 502,064
PNC FINL SVCS GROUP INC693475105 · PNC COM $39.9m 191,289
PONCE FINANCIAL GROUP INC732344106 · PDLB COMMON STOCK $185,736 11,360
POPULAR INC733174700 · BPOP COM NEW $2.9m 23,061
PORTLAND GEN ELEC CO736508847 · POR COM NEW $14.8m 308,395
PPG INDS INC693506107 · PPG COM $34.9m 341,007
PPL CORP69351T106 · PPL COM $18.1m 515,979
PREFERRED BK LOS ANGELES CA740367404 COM NEW $2.9m 31,073
PRICE T ROWE GROUP INC74144T108 · TROW COM $20.9m 203,944
PRIMERICA INC74164M108 · PRI COM $5.0m 19,179
PRINCIPAL FINANCIAL GROUP IN74251V102 · PFG COM $11.6m 131,942
PROCTER AND GAMBLE CO742718109 · PG COM $69.0m 481,295
PROG HOLDINGS INC74319R101 · PRG COM NPV $1.7m 58,910
PROGRESSIVE CORP743315103 · PGR COM $57.1m 250,851
PROVIDENT FINL SVCS INC74386T105 · PFS COM $2.8m 140,703
PRUDENTIAL FINL INC744320102 · PRU COM $20.2m 178,605
PUBLIC SVC ENTERPRISE GRP IN744573106 · PEG COM $27.8m 346,108
PULTE GROUP INC745867101 · PHM COM $18.0m 153,316
PUMA BIOTECHNOLOGY INC74587V107 · PBYI COM $129,710 21,800
PVH CORPORATION693656100 · PVH COM $7.4m 110,288
QCR HOLDINGS INC74727A104 · QCRH COM $2.9m 34,961
QUAD / GRAPHICS INC747301109 · QUAD COM CL A $217,569 34,700
QUALCOMM INC747525103 · QCOM COM $129.4m 756,299
QUEST DIAGNOSTICS INC74834L100 · DGX COM $13.6m 78,605
RADIAN GROUP INC750236101 · RDN COM $12.0m 332,790
RANGE RES CORP75281A109 · RRC COM $5.8m 164,175
RANGER ENERGY SVCS INC75282U104 · RNGR COM CL A $299,032 21,390
RAYMOND JAMES FINL INC754730109 · RJF COM $19.1m 118,806
RAYONIER ADVANCED MATLS INC75508B104 · RYAM COM $137,414 23,330
REGAL REXNORD CORPORATION758750103 · RRX COM $54.4m 387,424
REGENERON PHARMACEUTICALS75886F107 · REGN COM $17.8m 23,076
REGIONAL MGMT CORP75902K106 · RM COM $527,000 13,600
REGIONS FINANCIAL CORP NEW7591EP100 · RF COM $11.9m 439,772
REINSURANCE GRP OF AMERICA I759351604 · RGA COM NEW $6.4m 31,352
RELIANCE INC759509102 · RS COM $10.6m 36,655
RENAISSANCERE HLDGS LTDG7496G103 · RNR COM $17.0m 60,640
RENASANT CORP75970E107 · RNST COM $2.8m 79,942
RIGEL PHARMACEUTICALS INC766559702 · RIGL COM $3.1m 71,570
ROYALTY PHARMA PLCG7709Q104 · RPRX SHS CLASS A $61.0m 1,579,252
RPC INC749660106 · RES COM $1.8m 329,724
RPM INTL INC749685103 · RPM COM $4.4m 41,911
RYDER SYS INC783549108 · R COM $4.1m 21,497
RYERSON HLDG CORP783754104 · RYZ COM $3.3m 129,480
S & T BANCORP INC783859101 · STBA COM $3.0m 76,441
SALESFORCE INC79466L302 · CRM COM $110.0m 415,202
SALLY BEAUTY HLDGS INC79546E104 · SBH COM $3.5m 242,472
SANOFI SA80105N105 SPONSORED ADR $58.2m 1,200,571
SCANSOURCE INC806037107 · SCSC COM $2.7m 69,687
SCHOLASTIC CORP807066105 · SCHL COM $1.8m 59,300
SEACOAST BKG CORP FLA811707801 · SBCF COM NEW $1.7m 52,642
SEADRILL LTDG7997W102 · SDRL COM $4.7m 142,989
SEI INVTS CO784117103 · SEIC COM $14.7m 179,610
SEMPRA816851109 · SRE COM $76.8m 869,717
SENECA FOODS CORP NEW817070501 · SENEA CL A $1.9m 16,779
SERVICE CORP INTL817565104 · SCI COM $8.7m 111,954
SHELL PLC780259305 · SHEL SPON ADS $57.4m 781,017
SHENANDOAH TELECOMMUNICATION82312B106 · SHEN COM $1.5m 134,050
SHORE BANCSHARES INC825107105 · SHBI COM $353,954 20,020
SIERRA BANCORP82620P102 · BSRR COM $267,715 8,192
SIGA TECHNOLOGIES INC826917106 · SIGA COM $1.1m 175,030
SIGNET JEWELERS LIMITEDG81276100 · SIG SHS $7.8m 93,783
SIMMONS 1ST NATL CORP828730200 · SFNC CL A $1 PAR $3.2m 167,219
SIRIUSPOINT LTDG8192H106 · SPNT COM $7.5m 342,968
SKYWEST INC830879102 · SKYW COM $13.2m 131,738
SKYWORKS SOLUTIONS INC83088M102 · SWKS COM $1.4m 21,477
SLB LIMITED806857108 · SLB COM STK $37.4m 973,671
SLM CORP78442P106 · SLM COM $5.6m 207,900
SMARTFINANCIAL INC83190L208 · SMBK COM NEW $908,437 24,559
SMITH & WESSON BRANDS INC831754106 · SWBI COM $829,968 84,090
SMITH A O CORP831865209 · AOS COM $12.3m 184,566
SMUCKER J M CO832696405 · SJM COM NEW $1.4m 14,708
SMURFIT WESTROCK PLCG8267P108 · SW SHS $53.7m 1,404,000
SNAP INC83304A106 · SNAP CL A $9,781 1,212
SNAP INC83304AAK2 NOTE 0.500% 5/0 $17.1m 19,500,000

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.