Applied Finance Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Applied Finance Capital Management, LLC reported 280 stock positions worth $1.4 billion. Its top holding was Apple (AAPL) at 4.6% of the portfolio, followed by Microsoft (MSFT, 4.3%) and Alphabet Class A (GOOGL, 4.0%). Compared with Q2 2025, it opened 25 new positions, sold out of 52, added to 29 and reduced 226. The biggest buy was Microsoft (MSFT, shares +89%) and the biggest sale Chevron (CVX, shares −92%).
- Most Recent 13F
- Q2 2026
- Location
- SAN JUAN, PR
- CIK
- 0001966007
- Portfolio Value
- $1.4B (Q3 2025)
- SEC Filing
- 0001398344-25-020421 ↗ filed Nov 6, 2025
Holdings Value
Holdings 280 stocks · $1.4B
| AAPL Apple Inc. | 4.57% | 252,799 | $64.4M | Reduce -6.7% |
| MSFT Microsoft Corp. | 4.31% | 117,025 | $60.6M | Add +88.8% |
| GOOGL Alphabet Inc. Class A | 3.99% | 230,900 | $56.1M | Reduce -11.1% |
| ORCL Oracle Corp. | 3.19% | 159,791 | $44.9M | Reduce -31.5% |
| META Meta Platforms Inc. Class A | 2.87% | 55,048 | $40.4M | Reduce -14.5% |
| KLAC KLA Corp. | 2.75% | 35,921 | $38.7M | Reduce -23.7% |
| AMAT Applied Materials Inc. | 2.57% | 176,607 | $36.2M | Reduce -18.7% |
| HPQ HP Inc. | 2.35% | 1,217,071 | $33.1M | Add +8.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 2.31% | 115,305 | $32.5M | Reduce -12.2% |
| NVDA Nvidia Corp. | 2.30% | 173,375 | $32.3M | Reduce -14.9% |
| CSCO Cisco Systems Inc. | 2.25% | 463,087 | $31.7M | Reduce -8.9% |
| ADBE Adobe Inc. | 2.08% | 82,781 | $29.2M | Reduce -0.5% |
| DHI D.R. Horton Inc. | 1.99% | 164,956 | $28.0M | Reduce -5.0% |
| VZ Verizon Communications Inc. | 1.98% | 633,368 | $27.8M | Add +3.6% |
| ROP Roper Technologies Inc. | 1.87% | 52,769 | $26.3M | Add +0.3% |
| MA Mastercard Inc. Class A | 1.82% | 45,135 | $25.7M | Reduce -9.5% |
| APTV Aptiv PLC | 1.81% | 294,697 | $25.4M | Reduce -16.1% |
| JPM JPMorgan Chase & Co. | 1.75% | 77,891 | $24.6M | Reduce -18.9% |
| LOW Lowe's Cos Inc. | 1.72% | 96,168 | $24.2M | Reduce -0.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.71% | 210,278 | $24.1M | Reduce -13.6% |
| CMI Cummins Inc. | 1.69% | 56,349 | $23.8M | Reduce -7.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.69% | 460,978 | $23.8M | Reduce -15.2% |
| URI United Rentals Inc. | 1.67% | 24,649 | $23.5M | Reduce -19.0% |
| TRV The Travelers Cos Inc. | 1.67% | 84,254 | $23.5M | Reduce -5.9% |
| CBRE CBRE Group Inc. Class A | 1.66% | 148,273 | $23.4M | Reduce -13.6% |
| MET Metlife Inc. | 1.56% | 266,171 | $21.9M | Reduce -7.0% |
| AMP Ameriprise Financial Inc. | 1.54% | 44,087 | $21.7M | Reduce -12.4% |
| PWR Quanta Services Inc. | 1.46% | 49,604 | $20.6M | Reduce -29.5% |
| VLO Valero Energy Corp. | 1.39% | 115,183 | $19.6M | Add +13.8% |
| DRI Darden Restaurants Inc. | 1.38% | 101,830 | $19.4M | Reduce -4.9% |
| UNP Union Pacific Corp. | 1.33% | 78,986 | $18.7M | Reduce -3.3% |
| WAB Wabtec Corp. | 1.27% | 89,443 | $17.9M | Reduce -11.3% |
| COP Conocophillips | 1.20% | 178,358 | $16.9M | Add +46.1% |
| LKQ LKQ Corp. | 1.16% | 536,345 | $16.4M | Add +6.1% |
| FISV Fiserv Inc. | 1.12% | 122,337 | $15.8M | Add +21.9% |
| INCY Incyte Corp. | 1.07% | 177,389 | $15.0M | Reduce -22.5% |
| MRK Merck & Co. Inc. | 1.06% | 178,136 | $14.9M | Reduce -8.5% |
| TGT Target Corp. | 1.02% | 159,887 | $14.3M | Reduce -6.6% |
| TMO Thermo Fisher Scientific Inc. | 1.02% | 29,487 | $14.3M | Reduce -4.7% |
| MCK McKesson Corp. | 1.01% | 18,332 | $14.2M | Reduce -20.5% |
| TSN Tyson Foods Inc. Class A | 1.00% | 258,290 | $14.0M | Reduce -2.5% |
| CVS CVS Health Corp. | 0.99% | 184,244 | $13.9M | Reduce -15.4% |
| REGN Regeneron Pharmaceuticals | 0.89% | 22,219 | $12.5M | Reduce -3.3% |
| SYK Stryker Corp. | 0.87% | 33,079 | $12.2M | Reduce -17.2% |
| STZ Constellation Brands Inc. Class A | 0.87% | 90,422 | $12.2M | Reduce -3.1% |
| KDP Keurig Dr Pepper Inc. | 0.85% | 470,578 | $12.0M | Reduce -6.3% |
| PEG Public Service Enterprise GP | 0.85% | 143,638 | $12.0M | Reduce -5.1% |
| DTE DTE Energy Company | 0.84% | 83,980 | $11.9M | Reduce -4.7% |
| AVGO Broadcom Inc. | 0.82% | 34,845 | $11.5M | Reduce -18.4% |
| DHR Danaher Corp. | 0.79% | 56,419 | $11.2M | Reduce -14.2% |
| STLD Steel Dynamics Inc. | 0.71% | 71,793 | $10.0M | Add +1774.0% |
| SHW The Sherwin-Williams Co. | 0.70% | 28,400 | $9.8M | Reduce -7.8% |
| V Visa Inc. Class A | 0.38% | 15,554 | $5.3M | Reduce -15.3% |
| JNJ Johnson & Johnson | 0.36% | 27,219 | $5.0M | Reduce -9.6% |
| ABBV Abbvie Inc. | 0.34% | 20,655 | $4.8M | Reduce -7.0% |
| XOM Exxon Mobil Corp. | 0.27% | 33,526 | $3.8M | New |
| VSLU Applied Finance Valuat ETF | 0.22% | 71,628 | $3.0M | Add +0.3% |
| UNH Unitedhealth Group Inc. | 0.20% | 8,200 | $2.8M | New |
| APP AppLovin Corp. Class A | 0.20% | 3,833 | $2.8M | Reduce -13.5% |
| ACN Accenture PLC Class A | 0.17% | 9,496 | $2.3M | Reduce -0.8% |
| TMUS T-Mobile US Inc. | 0.17% | 9,733 | $2.3M | Reduce -7.8% |
| NSC Norfolk Southern Corp. | 0.15% | 7,015 | $2.1M | Reduce -11.3% |
| CAT Caterpillar Inc. | 0.15% | 4,298 | $2.1M | Reduce -24.3% |
| LRCX Lam Research Corp. | 0.14% | 15,022 | $2.0M | Reduce -25.5% |
| T AT&T Inc. | 0.13% | 66,766 | $1.9M | Reduce -8.4% |
| PNC PNC Financial Services Group | 0.13% | 9,337 | $1.9M | Reduce -14.5% |
| ORLY O'reilly Automotive Inc. | 0.13% | 17,170 | $1.9M | Reduce -1.0% |
| BKNG Booking Holdings Inc. | 0.13% | 341 | $1.8M | Reduce -21.6% |
| CRM Salesforce Inc. | 0.13% | 7,704 | $1.8M | Reduce -13.5% |
| AMGN Amgen Inc. | 0.12% | 6,177 | $1.7M | Reduce -2.9% |
| GILD Gilead Sciences Inc. | 0.12% | 15,040 | $1.7M | Reduce -6.6% |
| QCOM Qualcomm Inc. | 0.12% | 10,030 | $1.7M | Reduce -16.3% |
| PCAR Paccar Inc. | 0.12% | 16,860 | $1.7M | Add +96.7% |
| PFE Pfizer Inc. | 0.11% | 62,055 | $1.6M | Reduce -12.9% |
| PGR Progressive Corp. | 0.11% | 6,123 | $1.5M | Reduce -0.3% |
| DELL Dell Technologies -C | 0.11% | 10,639 | $1.5M | Reduce -23.7% |
| AZO AutoZone Inc. | 0.11% | 351 | $1.5M | Reduce -5.1% |
| AON Aon PLC Class A | 0.10% | 4,087 | $1.5M | Add +0.6% |
| HCA HCA Healthcare Inc. | 0.10% | 3,400 | $1.4M | Reduce -14.7% |
| CMCSA Comcast Corp. Class A | 0.10% | 45,857 | $1.4M | Reduce -10.2% |
| MAR Marriott International Class A | 0.10% | 5,407 | $1.4M | Reduce -19.7% |
| HLT Hilton Worldwide Holdings Inc. | 0.10% | 5,227 | $1.4M | Reduce -18.6% |
| MDT Medtronic PLC | 0.09% | 13,732 | $1.3M | New |
| COR Cencora Inc. | 0.09% | 4,177 | $1.3M | Reduce -8.6% |
| IWD iShares Russell 1000 Value E | 0.09% | 6,331 | $1.3M | Reduce -74.7% |
| CB Chubb Ltd. | 0.09% | 4,422 | $1.2M | Reduce -5.2% |
| SRE Sempra | 0.08% | 12,575 | $1.1M | Add +6.9% |
| ADP Automatic Data Processing | 0.08% | 3,845 | $1.1M | New |
| SO The Southern Co. | 0.08% | 11,673 | $1.1M | Reduce -8.1% |
| MCO Moody's Corp. | 0.08% | 2,313 | $1.1M | Reduce -16.5% |
| CSX CSX Corp. | 0.08% | 30,809 | $1.1M | Reduce -21.1% |
| RTX RTX Corp. | 0.08% | 6,450 | $1.1M | Add +3.4% |
| GD General Dynamics Corp. | 0.08% | 3,137 | $1.1M | Reduce -13.8% |
| OHI Omega Healthcare Investors | 0.08% | 25,031 | $1.1M | Add +17.6% |
| DUK Duke Energy Corp. | 0.07% | 8,451 | $1.0M | New |
| CRH CRH PLC-Sponsored ADR | 0.07% | 8,505 | $1.0M | New |
| TAP Molson Coors Beverage Co. Class B | 0.07% | 22,504 | $1.0M | Add +27.4% |
| UGI Ugi Corp. | 0.07% | 30,274 | $1.0M | Reduce -0.5% |
| LNG Cheniere Energy Inc. | 0.07% | 4,264 | $1.0M | Reduce -11.6% |
| MPC Marathon Petroleum Corp. | 0.07% | 5,198 | $1.0M | Reduce -16.7% |
Portfolio Sells Q2 2025 → Q3 2025
| CVX Chevron Corp. | Reduce -92.4% | 0.07% | −0.73 |
| CE Celanese Corp. | Sold out | 0.00% | −0.60 |
| META Meta Platforms Inc. Class A | Reduce -14.5% | 2.87% | −0.38 |
| PWR Quanta Services Inc. | Reduce -29.5% | 1.46% | −0.36 |
| DIS The Walt Disney Co. | Reduce -13.6% | 1.71% | −0.35 |
| IBM Intl Business Machines Corp. | Reduce -12.2% | 2.31% | −0.33 |
| AMP Ameriprise Financial Inc. | Reduce -12.4% | 1.54% | −0.30 |
| ORCL Oracle Corp. | Reduce -31.5% | 3.19% | −0.29 |
| KDP Keurig Dr Pepper Inc. | Reduce -6.3% | 0.85% | −0.28 |
| IWD iShares Russell 1000 Value E | Reduce -74.7% | 0.09% | −0.24 |
| DRI Darden Restaurants Inc. | Reduce -4.9% | 1.38% | −0.22 |
| SYK Stryker Corp. | Reduce -17.2% | 0.87% | −0.21 |
| WFC Wells Fargo & Co. | Sold out | 0.00% | −0.19 |
| STZ Constellation Brands Inc. Class A | Reduce -3.1% | 0.87% | −0.17 |
| AXP American Express Co. | Sold out | 0.00% | −0.17 |
| WAB Wabtec Corp. | Reduce -11.3% | 1.27% | −0.17 |
| GS Goldman Sachs Group Inc. | Sold out | 0.00% | −0.17 |
| COF Capital One Financial Corp. | Sold out | 0.00% | −0.16 |
| CSCO Cisco Systems Inc. | Reduce -8.9% | 2.25% | −0.16 |
| JPM JPMorgan Chase & Co. | Reduce -18.9% | 1.75% | −0.16 |
| MCK McKesson Corp. | Reduce -20.5% | 1.01% | −0.15 |
| AMAT Applied Materials Inc. | Reduce -18.7% | 2.57% | −0.15 |
| TGT Target Corp. | Reduce -6.6% | 1.02% | −0.14 |
| KLAC KLA Corp. | Reduce -23.7% | 2.75% | −0.13 |
| ADBE Adobe Inc. | Reduce -0.5% | 2.08% | −0.12 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.11 |
| CEG Constellation Energy | Sold out | 0.00% | −0.10 |
| RCL Royal Caribbean Cruises Ltd. | Sold out | 0.00% | −0.09 |
| TT Trane Technologies PLC | Sold out | 0.00% | −0.09 |
| DHR Danaher Corp. | Reduce -14.2% | 0.79% | −0.09 |
| MA Mastercard Inc. Class A | Reduce -9.5% | 1.82% | −0.09 |
| VRT Vertiv Holdings Co. Class A | Sold out | 0.00% | −0.08 |
| PH Parker Hannifin Corp. | Sold out | 0.00% | −0.08 |
| VST Vistra Corp. | Sold out | 0.00% | −0.08 |
| V Visa Inc. Class A | Reduce -15.3% | 0.38% | −0.07 |
| BAC Bank of America Corp. | Reduce -15.2% | 1.69% | −0.07 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −0.07 |
| CRH CRH PLC | Sold out | 0.00% | −0.07 |
| MNST Monster Beverage Corp. | Sold out | 0.00% | −0.06 |
| EA Electronic Arts Inc. | Sold out | 0.00% | −0.05 |
| BKNG Booking Holdings Inc. | Reduce -21.6% | 0.13% | −0.04 |
| JBL Jabil Inc. | Sold out | 0.00% | −0.04 |
| CVS CVS Health Corp. | Reduce -15.4% | 0.99% | −0.04 |
| CHTR Charter Communications Inc. Class A | Reduce -17.9% | 0.05% | −0.04 |
| DLTR Dollar Tree Inc. | Sold out | 0.00% | −0.04 |
| CRM Salesforce Inc. | Reduce -13.5% | 0.13% | −0.04 |
| GEN Gen Digital Inc. | Sold out | 0.00% | −0.03 |
| ACN Accenture PLC Class A | Reduce -0.8% | 0.17% | −0.03 |
| PYPL PayPal Holdings Inc. | Reduce -25.7% | 0.06% | −0.03 |
| MAR Marriott International Class A | Reduce -19.7% | 0.10% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| MSFT Microsoft Corp. | Add +88.8% | 4.31% | +2.20 |
| STLD Steel Dynamics Inc. | Add +1774.0% | 0.71% | +0.68 |
| VLO Valero Energy Corp. | Add +13.8% | 1.39% | +0.46 |
| COP Conocophillips | Add +46.1% | 1.20% | +0.45 |
| HPQ HP Inc. | Add +8.4% | 2.35% | +0.44 |
| XOM Exxon Mobil Corp. | New | 0.27% | +0.27 |
| UNH Unitedhealth Group Inc. | New | 0.20% | +0.20 |
| VZ Verizon Communications Inc. | Add +3.6% | 1.98% | +0.17 |
| MDT Medtronic PLC | New | 0.09% | +0.09 |
| ADP Automatic Data Processing | New | 0.08% | +0.08 |
| DUK Duke Energy Corp. | New | 0.07% | +0.07 |
| CRH CRH PLC-Sponsored ADR | New | 0.07% | +0.07 |
| PCAR Paccar Inc. | Add +96.7% | 0.12% | +0.06 |
| AFL Aflac Inc. | New | 0.06% | +0.06 |
| FDX FedEx Corp. | New | 0.05% | +0.05 |
| QSR Restaurant Brands Intern | New | 0.04% | +0.04 |
| WSM Williams-Sonoma Inc. | New | 0.03% | +0.03 |
| DOV Dover Corp. | New | 0.03% | +0.03 |
| FLEX Flex Ltd. | New | 0.03% | +0.03 |
| CHD Church & Dwight Co. Inc. | New | 0.03% | +0.03 |
| GPN Global Payments Inc. | New | 0.03% | +0.03 |
| TRMB Trimble Inc. | New | 0.03% | +0.03 |
| PFG Principal Financial Group | New | 0.03% | +0.03 |
| PRU Prudential Financial Inc. | Add +72.8% | 0.06% | +0.03 |
| VSLU Applied Finance Valuat ETF | Add +0.3% | 0.22% | +0.03 |
| DKS Dick's Sporting Goods Inc. | New | 0.03% | +0.03 |
| ZBRA Zebra Technologies Corp. Class A | New | 0.02% | +0.02 |
| OHI Omega Healthcare Investors | Add +17.6% | 0.08% | +0.02 |
| WPC WP Carey Inc. | New | 0.02% | +0.02 |
| SN Sharkninja Inc. | New | 0.02% | +0.02 |
| SRE Sempra | Add +6.9% | 0.08% | +0.02 |
| AFG American Financial Group Inc. | New | 0.02% | +0.02 |
| SCI Service Corp. International | New | 0.02% | +0.02 |
| MLI Mueller Industries Inc. | New | 0.02% | +0.02 |
| ORI Old Republic Intl Corp. | New | 0.02% | +0.02 |
| HD Home Depot Inc. | Add +11.4% | 0.07% | +0.02 |
| ELAN Elanco Animal Health Inc. | New | 0.01% | +0.01 |
| RTX RTX Corp. | Add +3.4% | 0.08% | +0.01 |
| TAP Molson Coors Beverage Co. Class B | Add +27.4% | 0.07% | +0.01 |
| UL Unilever PLC | Add +13.9% | 0.06% | +0.01 |
| ABT Abbott Laboratories | Add +9.4% | 0.07% | +0.01 |
| NVS Novartis AG-Sponsored ADR | Add +0.8% | 0.07% | +0.01 |
| LLY Eli Lilly & Co. | Add +9.5% | 0.06% | +0.01 |
| AON Aon PLC Class A | Add +0.6% | 0.10% | +0.00 |
| GIS General Mills Inc. | Add +7.4% | 0.04% | +0.00 |
| INGR Ingredion Inc. | Add +4.0% | 0.07% | −0.00 |
| CNC Centene Corp. | Add +38.8% | 0.04% | −0.00 |
| GDDY GoDaddy Inc. Class A | Add +10.8% | 0.03% | −0.01 |
| ELV Elevance Health Inc. | Add +7.5% | 0.07% | −0.01 |
| MOH Molina Healthcare Inc. | Add +5.7% | 0.02% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 218 | $1.3B | AAPL, AMAT, KLAC, MSFT, GOOGL |
| Q1 2026 | 218 | $1.3B | AAPL, MSFT, AMAT, GOOGL, KLAC |
| Q4 2025 | 225 | $1.4B | AAPL, MSFT, GOOGL, AMAT, CSCO |
| Q3 2025 | 280 | $1.4B | AAPL, MSFT, GOOGL, ORCL, META |
| Q2 2025 | 307 | $1.5B | AAPL, ORCL, META, GOOGL, KLAC |
| Q1 2025 | 294 | $1.4B | AAPL, ROP, IBM, GOOGL, KLAC |
| Q4 2024 | 297 | $2.3B | AAPL, CSCO, GOOGL, ORCL, IBM |
| Q3 2024Amended | 298 | $2.3B | AAPL, IBM, CSCO, META, HPQ |
| Q2 2024 | 293 | $2.2B | AAPL, ADBE, GOOGL, KLAC, HPQ |
| Q1 2024 | 75 | $1.4B | KLAC, IBM, META, ROP, MCHP |