Eldred Rock Partners, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 16, 2026), Eldred Rock Partners, LLC reported 32 stock positions worth $385.5 million. Its top holding was Alphabet Class A (GOOGL) at 5.6% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 5.1%) and Brookfield (BN, 5.0%). Compared with Q3 2025, it opened 2 new positions, sold out of 1, added to 3 and reduced 25. The biggest buy was a new position in Deere (DE) and the biggest sale an exit from Carmax (KMX).
- Most Recent 13F
- Q2 2026
- Location
- SAN ANTONIO, TX
- CIK
- 0001984180
- Portfolio Value
- $385.5M (Q4 2025)
- SEC Filing
- 0001984180-26-000002 ↗ filed Jan 16, 2026
Holdings Value
Holdings 32 stocks · $385.5M
| GOOGL Alphabet Inc. Class A | 5.57% | 68,638 | $21.5M | Reduce -33.0% |
| TSM Taiwan Semiconductor-SP ADR | 5.06% | 64,203 | $19.5M | Reduce -29.5% |
| BN Brookfield Corp. | 5.04% | 423,659 | $19.4M | Reduce -10.9% |
| ASML ASML Holding NV-NY Reg SHS | 4.69% | 16,913 | $18.1M | Reduce -10.2% |
| CMI Cummins Inc. | 4.58% | 34,571 | $17.6M | Reduce -10.9% |
| VNT Vontier Corp. | 4.08% | 423,435 | $15.7M | Reduce -10.9% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 3.97% | 207,561 | $15.3M | Reduce -10.2% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 3.96% | 78,531 | $15.3M | Reduce -10.8% |
| LRCX Lam Research Corp. | 3.89% | 87,617 | $15.0M | Reduce -51.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.67% | 28,171 | $14.2M | Reduce -10.9% |
| COF Capital One Financial Corp. | 3.65% | 58,116 | $14.1M | Reduce -10.9% |
| ACN Accenture PLC Class A | 3.60% | 51,755 | $13.9M | Add +47.1% |
| DE Deere & Co. | 3.42% | 28,279 | $13.2M | New |
| PEP Pepsico Inc. | 3.33% | 89,501 | $12.8M | Add +18.6% |
| EMR Emerson Electric Co. | 3.30% | 95,701 | $12.7M | Reduce -10.9% |
| SHEL Shell PLC-ADR | 3.15% | 165,047 | $12.1M | Add +40.8% |
| WFC Wells Fargo & Co. | 3.06% | 126,402 | $11.8M | Reduce -11.1% |
| PSX Phillips 66 | 3.01% | 90,041 | $11.6M | Reduce -10.9% |
| MRK Merck & Co. Inc. | 2.93% | 107,416 | $11.3M | Reduce -11.1% |
| NVS Novartis AG-Sponsored ADR | 2.92% | 81,549 | $11.2M | Reduce -10.1% |
| MTN Vail Resorts Inc. | 2.78% | 80,674 | $10.7M | Reduce -11.0% |
| TXN Texas Instruments Inc. | 2.74% | 60,879 | $10.6M | Reduce -10.9% |
| ICLR Icon PLC | 2.51% | 53,071 | $9.7M | Reduce -10.1% |
| UL Unilever PLC-Sponsored ADR | 2.48% | 137,405 | $9.6M | Reduce -5.4% |
| CALM Cal-Maine Foods Inc. | 2.46% | 119,344 | $9.5M | Reduce -11.1% |
| ABEV Ambev SA-ADR | 2.28% | 3,560,200 | $8.8M | Reduce -10.1% |
| IBOC International Bancshares CRP | 2.20% | 127,460 | $8.5M | No change |
| NVO Novo-Nordisk A/S-Spons ADR | 2.18% | 165,290 | $8.4M | Reduce -10.2% |
| DEO Diageo PLC-Sponsored ADR | 1.64% | 73,396 | $6.3M | Reduce -10.1% |
| POOL Pool Corp. | 1.60% | 27,035 | $6.2M | New |
| MICC The Magnum Ice Cream Co. NV | 0.13% | 30,892 | $490K | Reduce -5.5% |
| GOOG Alphabet Inc. Class C | 0.10% | 1,218 | $382K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| KMX Carmax Inc. | Sold out | 0.00% | −2.33 |
| LRCX Lam Research Corp. | Reduce -51.8% | 3.89% | −2.19 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -29.5% | 5.06% | −1.30 |
| VNT Vontier Corp. | Reduce -10.9% | 4.08% | −0.89 |
| CALM Cal-Maine Foods Inc. | Reduce -11.1% | 2.46% | −0.69 |
| GOOGL Alphabet Inc. Class A | Reduce -33.0% | 5.57% | −0.64 |
| MTN Vail Resorts Inc. | Reduce -11.0% | 2.78% | −0.60 |
| PSX Phillips 66 | Reduce -10.9% | 3.01% | −0.41 |
| TXN Texas Instruments Inc. | Reduce -10.9% | 2.74% | −0.39 |
| BN Brookfield Corp. | Reduce -10.9% | 5.04% | −0.38 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -10.2% | 2.18% | −0.37 |
| DEO Diageo PLC-Sponsored ADR | Reduce -10.1% | 1.64% | −0.30 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -10.9% | 3.67% | −0.29 |
| EMR Emerson Electric Co. | Reduce -10.9% | 3.30% | −0.22 |
| ICLR Icon PLC | Reduce -10.1% | 2.51% | −0.07 |
| MICC The Magnum Ice Cream Co. NV | Reduce -5.5% | 0.13% | −0.00 |
| NVS Novartis AG-Sponsored ADR | Reduce -10.1% | 2.92% | +0.01 |
| ABEV Ambev SA-ADR | Reduce -10.1% | 2.28% | +0.06 |
| UL Unilever PLC-Sponsored ADR | Reduce -5.4% | 2.48% | +0.06 |
| WFC Wells Fargo & Co. | Reduce -11.1% | 3.06% | +0.08 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -10.2% | 4.69% | +0.15 |
| COF Capital One Financial Corp. | Reduce -10.9% | 3.65% | +0.20 |
| BNS Bank of Nova Scotia | Reduce -10.2% | 3.97% | +0.24 |
| MRK Merck & Co. Inc. | Reduce -11.1% | 2.93% | +0.38 |
| CMI Cummins Inc. | Reduce -10.9% | 4.58% | +0.49 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Reduce -10.8% | 3.96% | +1.01 |
Portfolio Buys Q3 2025 → Q4 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 29 | $465.1M | LRCX, ASML, GOOGL, TSM, JBHT |
| Q1 2026 | 31 | $392.9M | TSM, GOOGL, ASML, JBHT, PSX |
| Q4 2025 | 32 | $385.5M | GOOGL, TSM, BN, ASML, CMI |
| Q3 2025Amended | 30 | $401.0M | TSM, GOOGL, LRCX, BN, VNT |
| Q2 2025 | 29 | $329.0M | TSM, COF, BN, GOOGL, LRCX |
| Q1 2025 | 29 | $327.5M | BRK.B, BN, GOOGL, DFS, VNT |
| Q4 2024 | 30 | $291.3M | GOOGL, BN, CALM, VNT, TSM |
| Q3 2024 | 32 | $299.3M | GOOGL, BN, VNT, TSM, LRCX |
| Q2 2024 | 30 | $239.3M | LRCX, GOOGL, VNT, MRK, PSX |
| Q1 2024 | 26 | $183.5M | LRCX, PSX, MRK, GOOGL, KMX |