Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (50 quarters reported)
$1B in Q2 2013 → $779M now. Hover for any quarter.
As reported for the quarter ended September 30, 2025. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Ross Stores Inc | 5.6% | Trimmed 43% | 287,946 | $43.9M |
| Cencora Inc | 4.9% | Trimmed 43% | 121,408 | $37.9M |
| U.s. Bancorp. | 4.6% | Trimmed 27% | 742,173 | $35.9M |
| Sysco Corporation | 4.6% | Trimmed 43% | 433,809 | $35.7M |
| LC Lowes Companies, Inc. | 4.4% | Trimmed 43% | 136,002 | $34.2M |
| Thermo Fisher Scientific Inc | 4.3% | Trimmed 43% | 69,551 | $33.7M |
| Autozone, Inc. | 4.3% | Trimmed 43% | 7,760 | $33.3M |
| Walt Disney Company | 4.2% | Trimmed 43% | 283,521 | $32.5M |
| Johnson & Johnson | 4.2% | Trimmed 43% | 174,469 | $32.3M |
| Unitedhealth Group Inc. | 3.9% | Trimmed 43% | 87,285 | $30.1M |
| W.r. Berkley Corporation | 3.8% | Trimmed 43% | 387,851 | $29.7M |
| Medtronic PLC | 3.6% | Trimmed 43% | 296,319 | $28.2M |
| Service Corporation International | 3.6% | Trimmed 43% | 338,402 | $28.2M |
| Microchip Technology Incorporated | 3.5% | Trimmed 43% | 425,125 | $27.3M |
| Icon PLC | 3.4% | Trimmed 34% | 152,503 | $26.7M |
| Steris PLC | 3.4% | Trimmed 13% | 106,865 | $26.4M |
| Keurig Dr Pepper Inc | 3.3% | Trimmed 44% | 1,009,929 | $25.8M |
| Mondelez International, Inc. | 3.3% | Trimmed 43% | 412,208 | $25.8M |
| Philip Morris International Inc. | 3.1% | Trimmed 44% | 146,540 | $23.8M |
| Marsh & Mclennan Companies, Inc. | 3.0% | Trimmed 42% | 114,928 | $23.2M |
| GW Grainger W W Inc | 2.9% | Trimmed 43% | 24,026 | $22.9M |
| State Street Corp. | 2.9% | Trimmed 43% | 196,952 | $22.8M |
| Chevron Corp. | 2.7% | Trimmed 43% | 137,718 | $21.4M |
| CC Coca-cola Co (the) | 2.3% | Trimmed 43% | 274,439 | $18.2M |
| AP Air Products & Chemicals, Inc. | 2.2% | Trimmed 43% | 62,775 | $17.1M |
| Quest Diagnostics Incorporated | 2.2% | Trimmed 42% | 89,103 | $17M |
| Global Payments Inc | 2.0% | Trimmed 43% | 191,311 | $15.9M |
| United Parcel Service, Inc. | 1.5% | Trimmed 43% | 140,383 | $11.7M |
| Constellation Brands, Inc. | 1.4% | Trimmed 44% | 81,168 | $10.9M |
| Colgate-palmolive Co. | 0.3% | Trimmed 35% | 31,641 | $2.53M |
| Bristol-myers Squibb Company | 0.3% | Trimmed 44% | 48,227 | $2.18M |
| Kenvue Inc. | 0.2% | Trimmed 37% | 117,133 | $1.9M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2025 · filed October 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Abbott Laboratories | Exited | −339,302 | −$46.1M | — |
| Ross Stores Inc | Trimmed | −219,336 | −$33.4M | 5.6% |
| Cencora Inc | Trimmed | −92,180 | −$28.8M | 4.9% |
| Sysco Corporation | Trimmed | −330,067 | −$27.2M | 4.6% |
| Thermo Fisher Scientific Inc | Trimmed | −53,070 | −$25.7M | 4.3% |
| Autozone, Inc. | Trimmed | −5,926 | −$25.4M | 4.3% |
| LC Lowes Companies, Inc. | Trimmed | −101,045 | −$25.4M | 4.4% |
| Johnson & Johnson | Trimmed | −133,505 | −$24.8M | 4.2% |
| Walt Disney Company | Trimmed | −213,239 | −$24.4M | 4.2% |
| Unitedhealth Group Inc. | Trimmed | −65,677 | −$22.7M | 3.9% |
Showing the 10 largest of 34 changes.
quarter ended June 30, 2025 · filed July 29, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Ishares Trust Rus 1000 Val ETF | Exited | −306,766 | −$57.7M | — |
| Amgen Inc. | Exited | −183,148 | −$57.1M | — |
| Icon PLC | New | +231,343 | +$33.6M | 2.5% |
| Cencora Inc | Trimmed | −98,565 | −$29.6M | 4.8% |
| Steris PLC | New | +122,985 | +$29.5M | 2.2% |
| Philip Morris International Inc. | Trimmed | −133,002 | −$24.2M | 3.5% |
| Marsh & Mclennan Companies, Inc. | Trimmed | −74,033 | −$16.2M | 3.3% |
| Walt Disney Company | Trimmed | −90,469 | −$11.2M | 4.6% |
| Sysco Corporation | Trimmed | −138,954 | −$10.5M | 4.3% |
| LC Lowes Companies, Inc. | Trimmed | −42,290 | −$9.38M | 3.9% |
Showing the 10 largest of 37 changes.
quarter ended March 31, 2025 · filed April 22, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Unitedhealth Group Inc. | Trimmed | −66,538 | −$34.8M | 5.0% |
| Cencora Inc | Trimmed | −122,392 | −$34M | 5.2% |
| Baxter International, Inc. | Exited | −1,148,034 | −$33.5M | — |
| Quest Diagnostics Incorporated | New | +182,263 | +$30.8M | 1.9% |
| Ross Stores Inc | Trimmed | −213,865 | −$27.3M | 4.0% |
| Marsh & Mclennan Companies, Inc. | Trimmed | −111,829 | −$27.3M | 4.0% |
| Autozone, Inc. | Trimmed | −6,953 | −$26.5M | 3.7% |
| LC Lowes Companies, Inc. | Trimmed | −112,655 | −$26.3M | 3.9% |
| Sysco Corporation | Trimmed | −348,113 | −$26.1M | 4.1% |
| Service Corporation International | Trimmed | −300,010 | −$24.1M | 3.4% |
Showing the 10 largest of 38 changes.
quarter ended December 31, 2024 · filed January 30, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Autozone, Inc. | New | +23,081 | +$73.9M | 3.4% |
| W.r. Berkley Corporation | New | +1,128,378 | +$66M | 3.0% |
| Nike, Inc. | Trimmed | −840,230 | −$63.6M | 0.1% |
| State Street Corporation | Trimmed | −523,209 | −$51.4M | 2.7% |
| LC Lowes Companies, Inc. | Trimmed | −175,296 | −$43.3M | 4.4% |
| GW Grainger W W Inc | Trimmed | −38,782 | −$40.9M | 3.4% |
| IT Ishares Trust Rus 1000 Val ETF | Added | +210,719 | +$39M | 1.8% |
| Cencora Inc | Trimmed | −138,116 | −$31M | 4.5% |
| Amgen Inc. | Trimmed | −91,817 | −$23.9M | 3.1% |
| Ross Stores Inc | Trimmed | −146,453 | −$22.2M | 5.1% |
Showing the 10 largest of 38 changes.
quarter ended September 30, 2024 · filed October 22, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Dollar General Corporation | Exited | −824,634 | −$109M | — |
| Baxter International, Inc. | New | +1,507,215 | +$57.2M | 2.1% |
| The Coca-cola Company | Trimmed | −377,161 | −$27.1M | 3.0% |
| Keurig Dr Pepper Inc | Added | +671,796 | +$25.2M | 3.3% |
| LC Lowes Companies, Inc. | Trimmed | −83,531 | −$22.6M | 5.6% |
| Constellation Brands, Inc. | Added | +80,970 | +$20.9M | 2.7% |
| Unitedhealth Group Inc. | Trimmed | −29,898 | −$17.5M | 5.1% |
| Ross Stores Inc | Trimmed | −112,639 | −$17M | 4.8% |
| Thermo Fisher Scientific Inc | Trimmed | −24,437 | −$15.1M | 4.3% |
| Sysco Corporation | Trimmed | −192,084 | −$15M | 4.4% |
Showing the 10 largest of 41 changes.
quarter ended June 30, 2024 · filed July 31, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Cvs Health Corp | Trimmed | −1,807,992 | −$107M | 0.1% |
| Conagra Brands Inc | Trimmed | −3,029,518 | −$86.1M | — |
| Keurig Dr Pepper Inc | New | +1,776,628 | +$59.3M | 2.1% |
| Constellation Brands, Inc. | New | +202,109 | +$52M | 1.8% |
| Microchip Technology Incorporated | Trimmed | −535,883 | −$49M | 5.2% |
| Cencora Inc | Trimmed | −210,100 | −$47.3M | 5.0% |
| LC Lowes Companies, Inc. | Trimmed | −209,607 | −$46.2M | 5.0% |
| Ross Stores Inc | Trimmed | −305,991 | −$44.5M | 5.0% |
| Sysco Corporation | Trimmed | −523,358 | −$37.4M | 4.3% |
| GW Grainger W W Inc | Trimmed | −40,631 | −$36.7M | 3.9% |
Showing the 10 largest of 81 changes.
quarter ended March 31, 2024 · filed May 09, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AP Air Products & Chemicals, Inc. | Added | +318,179 | +$77.1M | 1.9% |
| Perrigo Company PLC | Trimmed | −2,351,264 | −$75.7M | — |
| Ross Stores Inc | Trimmed | −431,616 | −$63.3M | 4.7% |
| GW Grainger W W Inc | Trimmed | −61,263 | −$62.3M | 4.1% |
| IR Ishares Russell 1000 Value ETF | Exited | −163,639 | −$27M | — |
| LC Lowes Companies, Inc. | Trimmed | −97,750 | −$24.9M | 5.4% |
| Cencora Inc | Trimmed | −94,682 | −$23M | 5.1% |
| Microchip Technology Incorporated | Trimmed | −246,102 | −$22.1M | 4.8% |
| Sysco Corporation | Trimmed | −241,457 | −$19.6M | 4.5% |
| Thermo Fisher Scientific Inc | Trimmed | −30,516 | −$17.7M | 4.0% |
Showing the 10 largest of 69 changes.
quarter ended December 31, 2023 · filed January 09, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| The J.m. Smucker Co. | Trimmed | −927,141 | −$117M | — |
| Cencora Inc. | Trimmed | −370,291 | −$76.1M | 4.5% |
| Abbott Laboratories | Added | +646,972 | +$71.2M | 2.3% |
| Baxter International Inc. | Trimmed | −1,666,642 | −$64.4M | — |
| M& Marsh & Mclennan Co. | Trimmed | −331,889 | −$62.9M | 3.4% |
| Ross Stores Inc. | Trimmed | −357,739 | −$49.5M | 5.6% |
| Lowe's Companies Inc. | Trimmed | −193,985 | −$43.2M | 5.0% |
| Unitedhealth Group Inc. | Trimmed | −74,028 | −$39M | 4.4% |
| WW W. W. Grainger, Inc. | Trimmed | −46,970 | −$38.9M | 4.3% |
| Sysco Corp | Trimmed | −526,048 | −$38.5M | 4.2% |
Showing the 10 largest of 65 changes.
Loading...
