Academy Capital Management
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 1, 2025), Academy Capital Management reported 40 stock positions worth $700.1 million. Its top holding was Microsoft (MSFT) at 10.3% of the portfolio, followed by Meta Platforms Class A (META, 10.1%) and Apple (AAPL, 9.1%). Compared with Q1 2025, it opened 3 new positions, sold out of 2, added to 7 and reduced 16. The biggest buy was Unitedhealth (UNH, shares +42444%) and the biggest sale Apple (AAPL, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- WACO, TX
- CIK
- 0001031972
- Portfolio Value
- $700.1M (Q2 2025)
- SEC Filing
- 0001031972-25-000004 ↗ filed Aug 1, 2025
Holdings Value
Holdings 40 stocks · $700.1M
| MSFT Microsoft Corp. | 10.32% | 145,216 | $72.2M | Add +0.9% |
| META Meta Platforms Inc. Class A | 10.14% | 96,216 | $71.0M | Add +1.8% |
| AAPL Apple Inc. | 9.07% | 309,615 | $63.5M | Reduce -1.0% |
| AMZN Amazon.com Inc. | 8.66% | 276,271 | $60.6M | Reduce -1.1% |
| MA Mastercard Inc. Class A | 8.63% | 107,509 | $60.4M | Reduce -1.6% |
| UNH Unitedhealth Group Inc. | 8.36% | 187,620 | $58.5M | Add +42444.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 7.63% | 109,993 | $53.4M | Reduce -1.0% |
| GOOG Alphabet Inc. Class C | 5.68% | 224,231 | $39.8M | Reduce -0.6% |
| PRI Primerica Inc. | 5.30% | 135,698 | $37.1M | Reduce -0.1% |
| TSM Taiwan Semiconductor-SP ADR | 5.06% | 156,409 | $35.4M | Reduce -0.2% |
| GOOGL Alphabet Inc. Class A | 4.41% | 175,179 | $30.9M | Reduce -0.7% |
| NVO Novo-Nordisk A/S-Spons ADR | 3.61% | 366,249 | $25.3M | Reduce -0.4% |
| IDXX Idexx Laboratories Inc. | 2.74% | 35,762 | $19.2M | Reduce -0.1% |
| LVMUY LVMH Moet Hennessy-Unsp ADR | 2.52% | 167,829 | $17.6M | Add +222.2% |
| SPGI S&P Global Inc. | 1.49% | 19,804 | $10.4M | Add +8.6% |
| NSRGY Nestle SA-Spons ADR | 1.36% | 95,559 | $9.5M | Reduce -11.4% |
| PEP Pepsico Inc. | 1.12% | 59,243 | $7.8M | Reduce -1.0% |
| C Citigroup Inc. | 0.80% | 65,788 | $5.6M | No change |
| POOL Pool Corp. | 0.72% | 17,347 | $5.1M | Reduce -0.2% |
| CME Cme Group Inc. | 0.47% | 11,955 | $3.3M | No change |
| BABA Alibaba Group Holding-SP ADR | 0.46% | 28,686 | $3.3M | Reduce -6.2% |
| TRV The Travelers Cos Inc. | 0.25% | 6,417 | $1.7M | No change |
| XOM Exxon Mobil Corp. | 0.19% | 12,352 | $1.3M | No change |
| STEL Stellar Bancorp Inc. | 0.15% | 36,941 | $1.0M | No change |
| NFLX Netflix Inc. | 0.11% | 580 | $777K | No change |
| V Visa Inc. Class A | 0.10% | 2,062 | $732K | Add +139.8% |
| CADE Cadence Bank | 0.10% | 20,950 | $670K | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.07% | 837 | $517K | New |
| NEE Nextera Energy Inc. | 0.07% | 7,016 | $487K | Reduce -23.8% |
| CVX Chevron Corp. | 0.06% | 3,027 | $433K | Reduce -1.1% |
| TSLA Tesla Inc. | 0.06% | 1,251 | $397K | Add +0.2% |
| JNJ Johnson & Johnson | 0.04% | 1,875 | $286K | No change |
| RTX RTX Corp. | 0.04% | 1,956 | $286K | No change |
| BHC Bausch Health Cos Inc. | 0.04% | 42,288 | $282K | No change |
| GLW Corning Inc. | 0.04% | 5,215 | $274K | No change |
| APD Air Products & Chemicals Inc. | 0.03% | 845 | $238K | No change |
| EMR Emerson Electric Co. | 0.03% | 1,636 | $218K | New |
| LUV Southwest Airlines Co. | 0.03% | 6,521 | $212K | No change |
| MRK Merck & Co. Inc. | 0.03% | 2,540 | $201K | No change |
| PVCT Provectus Biopharmaceutica-A | 0.00% | 20,000 | $1K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -1.0% | 9.07% | −2.91 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.0% | 7.63% | −2.58 |
| MA Mastercard Inc. Class A | Reduce -1.6% | 8.63% | −1.70 |
| PRI Primerica Inc. | Reduce -0.1% | 5.30% | −1.36 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -0.4% | 3.61% | −0.79 |
| NSRGY Nestle SA-Spons ADR | Reduce -11.4% | 1.36% | −0.53 |
| AMZN Amazon.com Inc. | Reduce -1.1% | 8.66% | −0.51 |
| PEP Pepsico Inc. | Reduce -1.0% | 1.12% | −0.43 |
| GOOG Alphabet Inc. Class C | Reduce -0.6% | 5.68% | −0.40 |
| GOOGL Alphabet Inc. Class A | Reduce -0.7% | 4.41% | −0.30 |
| BABA Alibaba Group Holding-SP ADR | Reduce -6.2% | 0.46% | −0.23 |
| POOL Pool Corp. | Reduce -0.2% | 0.72% | −0.23 |
| NEE Nextera Energy Inc. | Reduce -23.8% | 0.07% | −0.04 |
| CVX Chevron Corp. | Reduce -1.1% | 0.06% | −0.03 |
| NHHS Northstar Healthcare Income | Sold out | 0.00% | −0.01 |
| FSSL FS Specialty Lending Fund | Sold out | 0.00% | −0.01 |
| IDXX Idexx Laboratories Inc. | Reduce -0.1% | 2.74% | +0.15 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -0.2% | 5.06% | +0.57 |
Portfolio Buys Q1 2025 → Q2 2025
| UNH Unitedhealth Group Inc. | Add +42444.2% | 8.36% | +8.32 |
| LVMUY LVMH Moet Hennessy-Unsp ADR | Add +222.2% | 2.52% | +1.41 |
| MSFT Microsoft Corp. | Add +0.9% | 10.32% | +0.99 |
| META Meta Platforms Inc. Class A | Add +1.8% | 10.14% | +0.75 |
| CADE Cadence Bank | New | 0.10% | +0.10 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.07% | +0.07 |
| V Visa Inc. Class A | Add +139.8% | 0.10% | +0.05 |
| EMR Emerson Electric Co. | New | 0.03% | +0.03 |
| TSLA Tesla Inc. | Add +0.2% | 0.06% | +0.00 |
| SPGI S&P Global Inc. | Add +8.6% | 1.49% | −0.11 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 36 | $756.3M | AAPL, TSM, GOOG, AMZN, GOOGL |
| Q1 2026 | 37 | $699.4M | AAPL, GOOG, AMZN, TSM, BRK.B |
| Q4 2025 | 41 | $752.5M | AAPL, GOOG, MSFT, AMZN, META |
| Q3 2025 | 41 | $701.4M | AAPL, MSFT, META, AMZN, MA |
| Q2 2025 | 40 | $700.1M | MSFT, META, AAPL, AMZN, MA |
| Q1 2025 | 39 | $579.5M | AAPL, MA, BRK.B, META, MSFT |
| Q4 2024 | 41 | $611.9M | AAPL, MSFT, AMZN, MA, META |
| Q3 2024 | 32 | $577.4M | AAPL, MSFT, MA, META, AMZN |
| Q2 2024 | 34 | $554.2M | AAPL, MSFT, AMZN, MA, META |
| Q1 2024 | 32 | $528.5M | MSFT, AAPL, MA, AMZN, META |