Academy Capital Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 2, 2026), Academy Capital Management reported 41 stock positions worth $752.5 million. Its top holding was Apple (AAPL) at 10.4% of the portfolio, followed by Alphabet Class C (GOOG, 8.7%) and Microsoft (MSFT, 8.4%). Compared with Q3 2025, it opened 1 new position, sold out of 1, added to 6 and reduced 18. The biggest buy was Zoetis (ZTS, shares +166%) and the biggest sale Meta Platforms Class A (META, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- WACO, TX
- CIK
- 0001031972
- Portfolio Value
- $752.5M (Q4 2025)
- SEC Filing
- 0001031972-26-000002 ↗ filed Feb 2, 2026
Holdings Value
Holdings 41 stocks · $752.5M
| AAPL Apple Inc. | 10.35% | 286,620 | $77.9M | Reduce -0.8% |
| GOOG Alphabet Inc. Class C | 8.67% | 207,830 | $65.2M | Reduce -1.0% |
| MSFT Microsoft Corp. | 8.44% | 131,339 | $63.5M | Reduce -0.6% |
| AMZN Amazon.com Inc. | 8.14% | 265,379 | $61.3M | Reduce -0.7% |
| META Meta Platforms Inc. Class A | 7.94% | 90,553 | $59.8M | Reduce -0.3% |
| MA Mastercard Inc. Class A | 7.72% | 101,759 | $58.1M | Reduce -0.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 7.22% | 108,119 | $54.3M | Reduce -0.7% |
| GOOGL Alphabet Inc. Class A | 6.99% | 168,051 | $52.6M | Reduce -0.9% |
| TSM Taiwan Semiconductor-SP ADR | 6.23% | 154,344 | $46.9M | Reduce -0.6% |
| PRI Primerica Inc. | 4.54% | 132,306 | $34.2M | Reduce -0.5% |
| ZTS Zoetis Inc. | 3.92% | 234,527 | $29.5M | Add +165.9% |
| UNH Unitedhealth Group Inc. | 3.77% | 86,017 | $28.4M | Reduce -0.5% |
| IDXX Idexx Laboratories Inc. | 3.17% | 35,240 | $23.8M | Reduce -0.6% |
| NVO Novo-Nordisk A/S-Spons ADR | 2.47% | 365,783 | $18.6M | Reduce -0.5% |
| LVMUY LVMH Moet Hennessy-Unsp ADR | 2.30% | 114,977 | $17.3M | Reduce -0.5% |
| POOL Pool Corp. | 2.03% | 66,808 | $15.3M | Add +288.7% |
| SPGI S&P Global Inc. | 1.36% | 19,533 | $10.2M | Reduce -0.6% |
| C Citigroup Inc. | 0.96% | 62,091 | $7.2M | No change |
| XOM Exxon Mobil Corp. | 0.73% | 45,507 | $5.5M | Add +1.6% |
| BABA Alibaba Group Holding-SP ADR | 0.55% | 28,235 | $4.1M | Reduce -0.9% |
| NSRGY Nestle SA-Spons ADR | 0.45% | 34,035 | $3.4M | Reduce -2.3% |
| CME Cme Group Inc. | 0.43% | 11,955 | $3.3M | No change |
| TRV The Travelers Cos Inc. | 0.41% | 10,617 | $3.1M | Add +93.0% |
| PEP Pepsico Inc. | 0.26% | 13,469 | $1.9M | Reduce -4.1% |
| STEL Stellar Bancorp Inc. | 0.14% | 34,720 | $1.1M | No change |
| CADE Cadence Bank | 0.12% | 20,950 | $897K | No change |
| V Visa Inc. Class A | 0.10% | 2,095 | $735K | Add +2.0% |
| NEE Nextera Energy Inc. | 0.07% | 7,016 | $563K | No change |
| NFLX Netflix Inc. | 0.07% | 5,800 | $544K | No change |
| GLW Corning Inc. | 0.06% | 5,215 | $457K | No change |
| CVX Chevron Corp. | 0.06% | 2,975 | $453K | No change |
| JNJ Johnson & Johnson | 0.05% | 1,823 | $377K | No change |
| RTX RTX Corp. | 0.05% | 1,956 | $359K | No change |
| BHC Bausch Health Cos Inc. | 0.04% | 42,288 | $294K | No change |
| TSLA Tesla Inc. | 0.04% | 631 | $284K | Add +6.2% |
| LUV Southwest Airlines Co. | 0.04% | 6,521 | $270K | No change |
| MRK Merck & Co. Inc. | 0.04% | 2,524 | $266K | No change |
| EMR Emerson Electric Co. | 0.03% | 1,636 | $217K | No change |
| APD Air Products & Chemicals Inc. | 0.03% | 845 | $209K | No change |
| PFE Pfizer Inc. | 0.01% | 2,050 | $51K | New |
| PVCT Provectus Biopharmaceutica-A | 0.00% | 20,000 | $1K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| META Meta Platforms Inc. Class A | Reduce -0.3% | 7.94% | −1.57 |
| MSFT Microsoft Corp. | Reduce -0.6% | 8.44% | −1.32 |
| PRI Primerica Inc. | Reduce -0.5% | 4.54% | −0.72 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.7% | 7.22% | −0.58 |
| MA Mastercard Inc. Class A | Reduce -0.6% | 7.72% | −0.58 |
| UNH Unitedhealth Group Inc. | Reduce -0.5% | 3.77% | −0.48 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -0.5% | 2.47% | −0.43 |
| AMZN Amazon.com Inc. | Reduce -0.7% | 8.14% | −0.23 |
| BABA Alibaba Group Holding-SP ADR | Reduce -0.9% | 0.55% | −0.18 |
| AAPL Apple Inc. | Reduce -0.8% | 10.35% | −0.13 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −0.07 |
| IDXX Idexx Laboratories Inc. | Reduce -0.6% | 3.17% | −0.06 |
| PEP Pepsico Inc. | Reduce -4.1% | 0.26% | −0.02 |
| NSRGY Nestle SA-Spons ADR | Reduce -2.3% | 0.45% | −0.01 |
| SPGI S&P Global Inc. | Reduce -0.6% | 1.36% | −0.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -0.6% | 6.23% | +0.05 |
| LVMUY LVMH Moet Hennessy-Unsp ADR | Reduce -0.5% | 2.30% | +0.29 |
| GOOGL Alphabet Inc. Class A | Reduce -0.9% | 6.99% | +1.11 |
| GOOG Alphabet Inc. Class C | Reduce -1.0% | 8.67% | +1.38 |
Portfolio Buys Q3 2025 → Q4 2025
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 |