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Asset manager

Lyrical Asset Management LP

13F for the quarter to June 30, 2026, filed August 12, 2026 · SEC CIK 1542302

Reported value
$7.9bn
100% in companies we cover
Positions we cover
38
Largest FLEX 9.5%
Copy, a year
+14.7%
S&P 500 +14.1%
Copy Sharpe ratio
0.63
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $61.4k$57.0k
CopyS&P 500 $10,000 copying Lyrical Asset Management LP's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). 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 −50.9% (S&P 500 −31.8%); beta 1.28; alpha −1.5% a year (t = −0.51); last 12 months +25.3% against +12.1%.

Reported value by quarter

Lyrical Asset Management LP: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $2T $4T $6T Reported value, 2013-06-30: $615.2M Reported value, 2013-09-30: $850.9M Reported value, 2013-12-31: $1.6B Reported value, 2014-03-31: $1.8B Reported value, 2014-06-30: $2.3B Reported value, 2014-09-30: $2.6B Reported value, 2014-12-31: $3.3B Reported value, 2015-03-31: $3.3B Reported value, 2015-06-30: $3.8B Reported value, 2015-09-30: $4.2B Reported value, 2015-12-31: $4.1B Reported value, 2016-03-31: $4.6B Reported value, 2016-06-30: $4.8B Reported value, 2016-09-30: $5.1B Reported value, 2016-12-31: $5.6B Reported value, 2017-03-31: $6.2B Reported value, 2017-06-30: $7.1B Reported value, 2017-09-30: $7.7B Reported value, 2017-12-31: $8.2B Reported value, 2018-03-31: $8.2B Reported value, 2018-06-30: $8B Reported value, 2018-09-30: $8.3B Reported value, 2018-12-31: $6.6B Reported value, 2019-03-31: $7.5B Reported value, 2019-06-30: $7.2B Reported value, 2019-09-30: $6.6B Reported value, 2019-12-31: $7.4B Reported value, 2020-03-31: $4.1B Reported value, 2020-06-30: $5.1B Reported value, 2020-09-30: $5.5B Reported value, 2020-12-31: $7.2B Reported value, 2021-03-31: $8.5B Reported value, 2021-06-30: $8.3B Reported value, 2021-09-30: $7.8B Reported value, 2021-12-31: $7.5B Reported value, 2022-03-31: $7.2B Reported value, 2022-06-30: $5.8B Reported value, 2022-09-30: $4.8B Reported value, 2022-12-31: $4.7T Reported value, 2023-03-31: $5.1B Reported value, 2023-06-30: $5.3B Reported value, 2023-09-30: $5.3B Reported value, 2023-12-31: $6.1B Reported value, 2024-03-31: $6.7B Reported value, 2024-06-30: $6.2B Reported value, 2024-09-30: $6.9B Reported value, 2024-12-31: $6.8B Reported value, 2025-03-31: $6.6B Reported value, 2025-06-30: $6.9B Reported value, 2025-09-30: $7.1B Reported value, 2025-12-31: $7.6B Reported value, 2026-03-31: $6.6B Reported value, 2026-06-30: $7.9B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $7.9B
View chart data
Period Reported value
2013-06-30 $615.2M
2013-09-30 $850.9M
2013-12-31 $1.6B
2014-03-31 $1.8B
2014-06-30 $2.3B
2014-09-30 $2.6B
2014-12-31 $3.3B
2015-03-31 $3.3B
2015-06-30 $3.8B
2015-09-30 $4.2B
2015-12-31 $4.1B
2016-03-31 $4.6B
2016-06-30 $4.8B
2016-09-30 $5.1B
2016-12-31 $5.6B
2017-03-31 $6.2B
2017-06-30 $7.1B
2017-09-30 $7.7B
2017-12-31 $8.2B
2018-03-31 $8.2B
2018-06-30 $8B
2018-09-30 $8.3B
2018-12-31 $6.6B
2019-03-31 $7.5B
2019-06-30 $7.2B
2019-09-30 $6.6B
2019-12-31 $7.4B
2020-03-31 $4.1B
2020-06-30 $5.1B
2020-09-30 $5.5B
2020-12-31 $7.2B
2021-03-31 $8.5B
2021-06-30 $8.3B
2021-09-30 $7.8B
2021-12-31 $7.5B
2022-03-31 $7.2B
2022-06-30 $5.8B
2022-09-30 $4.8B
2022-12-31 $4.7T
2023-03-31 $5.1B
2023-06-30 $5.3B
2023-09-30 $5.3B
2023-12-31 $6.1B
2024-03-31 $6.7B
2024-06-30 $6.2B
2024-09-30 $6.9B
2024-12-31 $6.8B
2025-03-31 $6.6B
2025-06-30 $6.9B
2025-09-30 $7.1B
2025-12-31 $7.6B
2026-03-31 $6.6B
2026-06-30 $7.9B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
FLEXFlex Ltd.9.53%$751.2m4.64M−33.4% Reduced
JCIJohnson Controls5.55%$437.8m3.00M−4.8% Reduced
NRGNRG Energy4.98%$392.8m2.69M−3.4% Reduced
FFIVF5, Inc.4.86%$383.5m921.8K−2.7% Reduced
NTAPNetApp4.84%$381.6m2.47M−2.4% Reduced
EBAYeBay Inc.4.82%$380.1m3.40M−2.6% Reduced
EXPEExpedia Group4.66%$367.1m1.43M−3.7% Reduced
AERAercap Holdings N.V.4.59%$362.1m2.48M−4.5% Reduced
SNXTD Synnex Corp3.92%$309.4m1.16M−1.6% Reduced
AMPAmeriprise Financial3.79%$298.6m650.8K−2.6% Reduced
ARWArrow Electronics, Inc.3.35%$264.2m1.24M−2.5% Reduced
HCAHCA Healthcare3.23%$255.0m654.1K−2.2% Reduced
NXPINXP Semiconductors3.16%$249.4m887.6K−5.0% Reduced
IQVIQVIA3.09%$243.4m1.26MNew
UBERUber2.98%$235.2m3.26M−1.7% Reduced
CICigna2.60%$205.0m743.6K−0.9% Reduced
WCCWesco International Inc2.52%$199.0m576.0K−5.2% Reduced
GENGen Digital Inc.2.52%$198.7m7.98M+0.2%
CPAYCorpay2.50%$197.4m592.4K−4.2% Reduced
AMGAffiliated Managers Group, Inc.2.03%$160.0m472.9K−5.8% Reduced
CNCCentene Corporation2.00%$157.3m2.45M−3.3% Reduced
AIZAssurant1.99%$156.5m582.8K−4.8% Reduced
ICLRIcon PLC1.94%$153.1m881.2K−6.1% Reduced
LADLithia Motors Inc1.83%$144.7m498.1K+8.1% Added
FISFidelity National Information Services1.81%$142.5m3.66M0.0%
PRIPrimerica, Inc.1.75%$137.8m484.8K−4.2% Reduced
SSNCSS&C Technologies Holdings Inc1.75%$137.8m2.22M−4.2% Reduced
GPNGlobal Payments1.69%$133.1m1.83M+0.5%
HSICHenry Schein1.55%$122.6m1.47M−5.0% Reduced
WEXWEX Inc.1.38%$108.7m770.5K+1.3% Added
LKQLKQ Corp0.97%$76.2m2.89M−5.1% Reduced
ANAutonation, Inc.0.85%$67.0m360.4K−4.1% Reduced
CNXCConcentrix Corp0.39%$31.1m1.39M+16.0% Added
CCKCrown Holdings, Inc.0.17%$13.3m119.4K+23.3% Added
SUNBSunbelt Rentals Holdings, Inc.0.17%$13.1m174.8K−8.5% Reduced
APTVAptiv0.13%$10.1m164.1K+15.3% Added
VGNTVersigent PLC0.04%$3.0m71.4KNew
GRABGrab Holdings Ltd0.02%$1.6m431.3K−59.4% Reduced
CompanyBought (value)Shares
IQVIQVIA$243.4m1.26M
LADLithia Motors Inc$10.9m37.4K
CNXCConcentrix Corp$4.3m191.7K
VGNTVersigent PLC$3.0m71.4K
CCKCrown Holdings, Inc.$2.5m22.5K
WEXWEX Inc.$1.4m9.6K
APTVAptiv$1.3m21.7K
GPNGlobal Payments$608,4888.4K
GENGen Digital Inc.$402,74516.2K

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

CompanySold (value)Shares
FLEXFlex Ltd.−$377.0m−2.33M
JCIJohnson Controls−$21.9m−150.1K
AERAercap Holdings N.V.−$17.2m−118.1K
EXPEExpedia Group−$14.2m−55.4K
NRGNRG Energy−$13.8m−94.6K
NXPINXP Semiconductors−$13.1m−46.6K
WCCWesco International Inc−$10.9m−31.4K
FFIVF5, Inc.−$10.6m−25.5K
EBAYeBay Inc.−$10.2m−91.6K
ICLRIcon PLC−$9.9m−57.0K
AMGAffiliated Managers Group, Inc.−$9.9m−29.2K
NTAPNetApp−$9.5m−61.5K
CPAYCorpay−$8.8m−26.3K
AMPAmeriprise Financial−$8.0m−17.5K
AIZAssurant−$7.9m−29.3K

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

No positions in covered companies were sold out this quarter.

  • Technology34.0%
  • Financials16.9%
  • Industrials16.2%
  • Health Care14.4%
  • Consumer Discretionary13.3%
  • Utilities5.0%
  • Materials0.2%

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

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+14.7%+14.1%0.630.78−50.9%1.28
2018 onwardsJanuary 5, 2018 to November 2, 2026+13.5%+13.9%0.510.66−50.9%1.27
Last three yearsNovember 3, 2023 to November 2, 2026+25.5%+21.8%1.171.16−18.2%0.97
Last yearNovember 7, 2025 to November 2, 2026+23.1%+14.2%1.210.84−7.6%0.90

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.