Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$2.3B in Q2 2013 → $2.96B now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| The Goldman Sachs Group, Inc. | 8.3% | Trimmed 10.0% | 244,000 | $247M |
| Morgan Stanley | 7.8% | Trimmed 10% | 1,104,050 | $231M |
| Johnson & Johnson | 7.3% | Trimmed 9.4% | 847,800 | $215M |
| Unitedhealth Group Inc. | 6.2% | Trimmed 9.4% | 443,500 | $184M |
| Elevance Health, Inc. | 6.0% | Trimmed 9.5% | 461,600 | $179M |
| The Cigna Group | 5.8% | Trimmed 10% | 625,900 | $173M |
| Microsoft Corp. | 5.5% | Trimmed 9.5% | 433,700 | $162M |
| The Walt Disney Company | 5.4% | Trimmed 9.6% | 1,664,650 | $160M |
| American Express Co. | 5.2% | Trimmed 9.3% | 455,650 | $154M |
| Fedex Corporation | 4.5% | Trimmed 9.4% | 425,000 | $133M |
| Pepsico, Inc. | 4.4% | Trimmed 9.3% | 972,650 | $132M |
| The Tjx Companies, Inc. | 4.2% | Trimmed 9.6% | 825,300 | $125M |
| Mcdonald's Corporation | 3.4% | Trimmed 9.7% | 367,800 | $99.4M |
| Global Payments Inc. | 3.2% | Trimmed 9.3% | 1,300,800 | $94.4M |
| Lowe's Companies, Inc. | 2.9% | Trimmed 10.0% | 390,950 | $86.2M |
| L3harris Technologies, Inc. | 2.8% | Trimmed 9.6% | 284,150 | $82.6M |
| Oracle Corporation | 2.8% | Trimmed 9.6% | 557,750 | $81.7M |
| Northrop Grumman Corporation | 2.8% | Trimmed 9.6% | 160,300 | $81.6M |
| Lockheed Martin Corp. | 2.5% | Trimmed 9.3% | 147,900 | $75.3M |
| Centene Corporation | 2.4% | Trimmed 9.4% | 1,117,750 | $71.7M |
| M& Marsh & Mclennan Companies, In | 2.3% | New | 404,300 | $67.4M |
| The Home Depot, Inc. | 2.2% | Trimmed 9.2% | 188,500 | $66.5M |
| AP Accenture PLC Class A | 2.1% | New | 492,400 | $61.3M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed July 28, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Rtx Corporation | Exited | −555,450 | −$107M | — |
| M& Marsh & Mclennan Companies, In | New | +404,300 | +$67.4M | 2.3% |
| AP Accenture PLC Class A | New | +492,400 | +$61.3M | 2.1% |
| The Goldman Sachs Group, Inc. | Trimmed | −27,100 | −$27.4M | 8.3% |
| Morgan Stanley | Trimmed | −124,300 | −$26M | 7.8% |
| Johnson & Johnson | Trimmed | −88,100 | −$22.4M | 7.3% |
| The Cigna Group | Trimmed | −72,300 | −$19.9M | 5.8% |
| Unitedhealth Group Inc. | Trimmed | −46,200 | −$19.2M | 6.2% |
| Elevance Health, Inc. | Trimmed | −48,200 | −$18.6M | 6.0% |
| The Walt Disney Company | Trimmed | −177,500 | −$17.1M | 5.4% |
Showing the 10 largest of 24 changes.
quarter ended March 31, 2026 · filed April 16, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Microsoft Corp. | Added | +172,800 | +$64M | 5.8% |
| L3harris Technologies, Inc. | Trimmed | −122,950 | −$42.4M | 3.5% |
| Oracle Corporation | Added | +274,100 | +$40.3M | 3.0% |
| Rtx Corporation | Trimmed | −204,600 | −$39.5M | 3.5% |
| The Walt Disney Company | Added | +319,100 | +$30.8M | 5.8% |
| Northrop Grumman Corporation | Trimmed | −30,300 | −$20.7M | 3.9% |
| American Express Co. | Added | +67,900 | +$20.5M | 4.9% |
| The Goldman Sachs Group, Inc. | Trimmed | −7,200 | −$6.09M | 7.5% |
| Johnson & Johnson | Trimmed | −23,700 | −$5.79M | 7.4% |
| Morgan Stanley | Trimmed | −30,600 | −$5.04M | 6.6% |
Showing the 10 largest of 22 changes.
quarter ended December 31, 2025 · filed January 27, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Fiserv, Inc. | Exited | −1,571,750 | −$203M | — |
| Pepsico, Inc. | Added | +386,100 | +$55.4M | 5.0% |
| The Walt Disney Company | Added | +179,700 | +$20.4M | 5.5% |
| Global Payments Inc. | Added | +257,400 | +$19.9M | 3.6% |
| The Goldman Sachs Group, Inc. | Trimmed | −9,700 | −$8.53M | 7.8% |
| Morgan Stanley | Trimmed | −42,550 | −$7.55M | 7.1% |
| The Cigna Group | Trimmed | −20,950 | −$5.77M | 6.2% |
| Johnson & Johnson | Trimmed | −25,150 | −$5.2M | 6.3% |
| Elevance Health, Inc. | Trimmed | −13,900 | −$4.87M | 5.8% |
| Microsoft Corp. | Trimmed | −9,800 | −$4.74M | 4.7% |
Showing the 10 largest of 23 changes.
quarter ended September 30, 2025 · filed October 28, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Oracle Corporation | Trimmed | −552,750 | −$155M | 3.0% |
| The Cigna Group | Added | +170,200 | +$49.1M | 6.4% |
| Fiserv, Inc. | Added | +288,700 | +$37.2M | 6.2% |
| Pepsico, Inc. | Added | +183,100 | +$25.7M | 3.1% |
| The Walt Disney Company | Added | +177,400 | +$20.3M | 4.7% |
| The Goldman Sachs Group, Inc. | Added | +15,400 | +$12.3M | 7.0% |
| Morgan Stanley | Added | +51,600 | +$8.2M | 6.3% |
| Elevance Health, Inc. | Added | +21,700 | +$7.01M | 5.3% |
| Johnson & Johnson | Added | +37,100 | +$6.88M | 5.6% |
| American Express Co. | Added | +18,400 | +$6.11M | 4.5% |
Showing the 10 largest of 23 changes.
quarter ended June 30, 2025 · filed July 23, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Target Corp. | Exited | −653,700 | −$68.2M | — |
| Oracle Corporation | Trimmed | −143,100 | −$31.3M | 6.5% |
| Unitedhealth Group Inc. | Added | +90,100 | +$28.1M | 5.1% |
| Johnson & Johnson | Trimmed | −183,200 | −$28M | 4.7% |
| Global Payments Inc. | Added | +295,600 | +$23.7M | 3.1% |
| The Goldman Sachs Group, Inc. | Trimmed | −32,700 | −$23.1M | 6.3% |
| Fiserv, Inc. | Added | +86,400 | +$14.9M | 7.2% |
| Centene Corporation | Added | +207,600 | +$11.3M | 2.2% |
| The Cigna Group | Trimmed | −11,900 | −$3.93M | 6.1% |
| Morgan Stanley | Trimmed | −27,100 | −$3.82M | 5.8% |
Showing the 10 largest of 24 changes.
quarter ended March 31, 2025 · filed May 01, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Centene Corporation | Added | +890,900 | +$54.1M | 2.0% |
| The Goldman Sachs Group, Inc. | Trimmed | −26,800 | −$14.6M | 5.4% |
| Fiserv, Inc. | Trimmed | −35,900 | −$7.93M | 8.5% |
| Unitedhealth Group Inc. | Trimmed | −12,700 | −$6.65M | 7.0% |
| Elevance Health, Inc. | Trimmed | −12,600 | −$5.48M | 7.1% |
| The Cigna Group | Trimmed | −15,800 | −$5.2M | 6.0% |
| Johnson & Johnson | Trimmed | −29,400 | −$4.88M | 6.0% |
| Morgan Stanley | Trimmed | −34,800 | −$4.06M | 4.8% |
| Oracle Corporation | Trimmed | −27,000 | −$3.77M | 4.7% |
| Northrop Grumman Corporation | Trimmed | −6,400 | −$3.28M | 3.4% |
Showing the 10 largest of 24 changes.
quarter ended December 31, 2024 · filed February 11, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Global Payments Inc. | New | +892,100 | +$100M | 3.2% |
| The Coca-cola Co. | Exited | −1,006,150 | −$72.3M | — |
| Morgan Stanley | Trimmed | −306,400 | −$38.5M | 5.2% |
| The Cigna Group | Added | +47,550 | +$13.1M | 5.1% |
| Centene Corporation | New | +151,500 | +$9.18M | 0.3% |
| Unitedhealth Group Inc. | Added | +16,950 | +$8.57M | 6.8% |
| Elevance Health, Inc. | Added | +16,200 | +$5.98M | 6.0% |
| Fiserv, Inc. | Trimmed | −13,650 | −$2.8M | 8.0% |
| Oracle Corporation | Trimmed | −9,300 | −$1.55M | 5.7% |
| The Goldman Sachs Group, Inc. | Trimmed | −2,700 | −$1.55M | 6.0% |
Showing the 10 largest of 25 changes.
quarter ended September 30, 2024 · filed November 06, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Microsoft Corp. | Trimmed | −89,300 | −$38.4M | 4.4% |
| Lockheed Martin Corp. | Trimmed | −32,000 | −$18.7M | 3.1% |
| Elevance Health, Inc. | Added | +33,500 | +$17.4M | 7.9% |
| The Walt Disney Company | Added | +129,800 | +$12.5M | 3.6% |
| Unitedhealth Group Inc. | Trimmed | −7,600 | −$4.44M | 7.3% |
| Johnson & Johnson | Trimmed | −21,900 | −$3.55M | 5.8% |
| Oracle Corporation | Trimmed | −20,400 | −$3.48M | 5.6% |
| The Cigna Group | Trimmed | −10,000 | −$3.46M | 5.7% |
| Morgan Stanley | Trimmed | −31,500 | −$3.28M | 5.1% |
| Fiserv, Inc. | Trimmed | −16,300 | −$2.93M | 6.8% |
Showing the 10 largest of 23 changes.
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