Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (54 quarters reported)
$3.75B in Q2 2013 → $7.96B now. Hover for any quarter.
As reported for the quarter ended September 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| LC Lennar Corporation - A (len) | 13.4% | Added 15% | 13,055,103 | $1.07B |
| BD Becton Dickinson & Co (bdx) | 13.3% | Added 3.9% | 5,904,730 | $1.06B |
| GM General Motors Co (gm) | 12.5% | Added 0.3% | 12,906,773 | $994M |
| TB Toll Brothers, Inc. (tol) | 9.5% | Trimmed 0.3% | 5,614,009 | $756M |
| P( Pultegroup Inc. (phm) | 7.9% | Trimmed 1.1% | 5,394,549 | $626M |
| IP Icon PLC (iclr) | 6.6% | Trimmed 1.0% | 3,069,015 | $522M |
| DR D R Horton, Inc. (dhi) | 6.4% | Added 7.1% | 3,753,844 | $513M |
| A( Avantor Inc (avtr) | 4.6% | Trimmed 1.1% | 24,359,610 | $367M |
| AE Arrow Electronics Inc (arw) | 4.2% | Trimmed 16% | 1,486,774 | $337M |
| O( Oshkosh Corp (osk) | 4.1% | Trimmed 1.2% | 2,527,880 | $326M |
| A( Avnet Inc (avt) | 4.0% | Trimmed 15% | 3,205,515 | $320M |
| BI Baxter International Inc (bax) | 3.7% | Trimmed 13% | 12,396,504 | $298M |
| S( Slb Ltd (slb) | 2.3% | Trimmed 1.4% | 3,750,244 | $183M |
| IH Iqvia Hldgs Inc (iqv) | 1.8% | Trimmed 29% | 544,925 | $147M |
| N( Nov Inc (nov) | 1.2% | Trimmed 6.0% | 5,281,619 | $98.9M |
| LC Lear Corporation (lea) | 1.2% | Trimmed 43% | 834,527 | $98.5M |
| MH Meritage Homes Corp (mth) | 1.1% | Added 5.4% | 1,367,579 | $86M |
| D( Dnow Inc (dnow) | 0.9% | Added 0.8% | 4,377,190 | $67.8M |
| V0 Vanguard 0-3m T-bill ETF (vbil) | 0.8% | Added 30% | 858,916 | $65M |
| LC Lennar Corporation - B Shs (len/b) | 0.4% | Added 0.5% | 365,959 | $29.3M |
| AT Agilent Technologies, Inc. (a) | 0.0% | Unchanged | 10,700 | $1.84M |
| CP Crh PLC (crh) | 0.0% | Unchanged | 17,500 | $1.45M |
| CS Charles Schwab Corporation (schw) | 0.0% | Trimmed 16% | 10,500 | $1.03M |
| UP Union Pacific Corp (unp) | 0.0% | Unchanged | 2,032 | $553K |
| JP J P Morgan Chase (jpm) | 0.0% | Trimmed 60% | 1,000 | $331K |
| G( Genpact Ltd (g) | 0.0% | Unchanged | 10,000 | $325K |
| B& Bath & Body Works Inc (bbwi) | 0.0% | New | 10,000 | $159K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2026 · filed October 26, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| AP Accenture PLC (acn) | Exited | −3,384,681 | −$421M | — |
| LC Lennar Corporation - A (len) | Added | +1,738,824 | +$142M | 13.4% |
| LC Lear Corporation (lea) | Trimmed | −621,406 | −$73.3M | 1.2% |
| AE Arrow Electronics Inc (arw) | Trimmed | −277,379 | −$63M | 4.2% |
| IH Iqvia Hldgs Inc (iqv) | Trimmed | −223,120 | −$60M | 1.8% |
| A( Avnet Inc (avt) | Trimmed | −567,346 | −$56.7M | 4.0% |
| ES Epam Sys Inc (epam) | Exited | −587,300 | −$46.6M | — |
| BI Baxter International Inc (bax) | Trimmed | −1,888,724 | −$45.3M | 3.7% |
| BD Becton Dickinson & Co (bdx) | Added | +223,022 | +$39.9M | 13.3% |
| DR D R Horton, Inc. (dhi) | Added | +248,044 | +$33.9M | 6.4% |
Showing the 10 largest of 25 changes.
quarter ended June 30, 2026 · filed July 28, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| BD Becton Dickinson & Co (bdx) | New | +5,681,708 | +$860M | 9.9% |
| AP Accenture PLC (acn) | New | +3,384,681 | +$421M | 4.9% |
| IP Icon PLC (iclr) | Added | +1,098,204 | +$191M | 6.2% |
| IH Iqvia Hldgs Inc (iqv) | New | +768,045 | +$148M | 1.7% |
| LC Lennar Corporation - A (len) | Added | +684,148 | +$61.9M | 11.8% |
| ES Epam Sys Inc (epam) | New | +587,300 | +$46.6M | 0.5% |
| D( Dnow Inc (dnow) | Added | +3,519,130 | +$45.6M | 0.7% |
| V0 Vanguard 0-3m T-bill ETF (vbil) | Trimmed | −534,425 | −$40.4M | 0.6% |
| S( Slb Ltd (slb) | Trimmed | −862,233 | −$40.1M | 2.0% |
| LC Lear Corporation (lea) | Trimmed | −241,436 | −$32.4M | 2.3% |
Showing the 10 largest of 25 changes.
quarter ended March 31, 2026 · filed April 06, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IP Icon PLC (iclr) | Added | +1,985,017 | +$220M | 3.6% |
| GM General Motors Co (gm) | Trimmed | −2,652,822 | −$198M | 15.4% |
| MP Millrose Properties (mrp) | Exited | −4,596,584 | −$137M | — |
| BI Baxter International Inc (bax) | Added | +3,614,465 | +$60.7M | 4.0% |
| LC Lennar Corporation - A (len) | Added | +537,984 | +$46.7M | 15.2% |
| V0 Vanguard 0-3m T-bill ETF (vbil) | Added | +423,700 | +$32.1M | 1.5% |
| A( Avantor Inc (avtr) | Added | +2,093,185 | +$16.4M | 2.9% |
| T( Teleflex Inc (tfx) | Exited | −122,079 | −$14.9M | — |
| TM Taylor Morrison Home Corp (tmhc) | Added | +223,108 | +$13M | 0.3% |
| D( Dnow Inc (dnow) | New | +824,487 | +$9.82M | 0.2% |
Showing the 10 largest of 25 changes.
quarter ended December 31, 2025 · filed January 07, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| GM General Motors Co (gm) | Trimmed | −7,885,401 | −$641M | 20.0% |
| S( Slb Ltd (slb) | New | +4,660,827 | +$179M | 2.9% |
| BI Baxter International Inc (bax) | Added | +4,404,874 | +$84.2M | 3.3% |
| T( Terex Corp (tex) | Trimmed | −1,458,311 | −$77.8M | — |
| LC Lennar Corporation - A (len) | Added | +440,753 | +$45.3M | 16.8% |
| A( Avantor Inc (avtr) | Added | +2,189,083 | +$25.1M | 3.8% |
| DR D R Horton, Inc. (dhi) | Trimmed | −153,617 | −$22.1M | 8.1% |
| V0 Vanguard 0-3m T-bill ETF (vbil) | Added | +272,725 | +$20.6M | 0.9% |
| T( Teleflex Inc (tfx) | New | +122,079 | +$14.9M | 0.2% |
| C( Citigroup Inc (c) | Trimmed | −50,013 | −$5.84M | 0.1% |
Showing the 10 largest of 25 changes.
quarter ended September 30, 2025 · filed November 04, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| C( Citigroup Inc (c) | Trimmed | −16,092,290 | −$1.63B | 0.1% |
| A( Avantor Inc (avtr) | New | +18,311,570 | +$229M | 3.5% |
| BI Baxter International Inc (bax) | New | +6,288,349 | +$143M | 2.2% |
| MP Millrose Properties (mrp) | Trimmed | −3,286,243 | −$110M | 2.4% |
| V0 Vanguard 0-3m T-bill ETF (vbil) | New | +500,000 | +$37.8M | 0.6% |
| GM General Motors Co (gm) | Trimmed | −590,000 | −$36M | 21.4% |
| LC Lennar Corporation - A (len) | Added | +159,809 | +$20.1M | 18.5% |
| N( Nov Inc (nov) | Added | +765,166 | +$10.1M | 1.2% |
| DR D R Horton, Inc. (dhi) | Trimmed | −43,300 | −$7.34M | 9.4% |
| LC Lear Corporation (lea) | Trimmed | −45,823 | −$4.61M | 2.7% |
Showing the 10 largest of 24 changes.
quarter ended June 30, 2025 · filed July 08, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| C( Citigroup Inc (c) | Trimmed | −490,280 | −$41.7M | 20.5% |
| N( Nov Inc (nov) | Added | +868,359 | +$10.8M | 0.9% |
| GM General Motors Co (gm) | Trimmed | −125,702 | −$6.19M | 17.3% |
| G( Genpact Ltd (g) | Trimmed | −135,660 | −$5.97M | — |
| LC Lennar Corporation - A (len) | Added | +53,630 | +$5.93M | 15.6% |
| TB Toll Brothers, Inc. (tol) | Added | +39,334 | +$4.49M | 9.5% |
| MH Meritage Homes Corp (mth) | Added | +57,587 | +$3.86M | 1.5% |
| IP Icon PLC (iclr) | New | +17,633 | +$2.56M | — |
| DR D R Horton, Inc. (dhi) | Added | +6,300 | +$812K | 7.1% |
| P( Pultegroup Inc. (phm) | Trimmed | −6,900 | −$728K | 8.8% |
Showing the 10 largest of 19 changes.
quarter ended March 31, 2025 · filed April 02, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| MP Millrose Properties (mrp) | New | +7,888,017 | +$209M | 3.3% |
| G( Genpact Ltd (g) | Trimmed | −1,083,660 | −$54.6M | 0.1% |
| CP Crh PLC (crh) | Trimmed | −604,856 | −$53.2M | — |
| MH Meritage Homes Corp (mth) | Added | +695,355 | +$49.3M | 1.6% |
| LC Lennar Corporation - A (len) | Added | +275,220 | +$31.6M | 17.2% |
| C( Citigroup Inc (c) | Trimmed | −204,922 | −$14.5M | 18.8% |
| N( Nov Inc (nov) | Added | +823,115 | +$12.5M | 1.0% |
| TB Toll Brothers, Inc. (tol) | Added | +26,079 | +$2.75M | 9.3% |
| GM General Motors Co (gm) | Added | +56,616 | +$2.66M | 17.8% |
| IP International Paper Co (ip) | Exited | −35,288 | −$1.9M | — |
Showing the 10 largest of 18 changes.
quarter ended December 31, 2024 · filed January 17, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CP Crh PLC (crh) | Trimmed | −10,523,480 | −$974M | 0.9% |
| N( Nov Inc (nov) | Added | +1,255,666 | +$18.3M | 0.7% |
| LC Lennar Corporation - A (len) | Added | +77,549 | +$10.6M | 18.5% |
| GM General Motors Co (gm) | Trimmed | −107,412 | −$5.72M | 18.7% |
| GS Goldman Sachs (gs) | Trimmed | −6,540 | −$3.74M | — |
| AE Arrow Electronics Inc (arw) | Added | +20,484 | +$2.32M | 3.2% |
| LC Lear Corporation (lea) | Added | +22,601 | +$2.14M | 2.6% |
| A( Avnet Inc (avt) | Added | +38,185 | +$2M | 3.1% |
| O( Oshkosh Corp (osk) | Added | +15,622 | +$1.49M | 3.6% |
| P( Pultegroup Inc. (phm) | Trimmed | −8,951 | −$975K | 9.0% |
Showing the 10 largest of 17 changes.
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