Eldred Rock Partners, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 8, 2026), Eldred Rock Partners, LLC reported 31 stock positions worth $392.9 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 5.5% of the portfolio, followed by Alphabet Class A (GOOGL, 5.1%) and ASML Holding NV-NY Reg SHS (ASML, 4.7%). Compared with Q4 2025, it opened 1 new position, sold out of 2, added to 18 and reduced 10. The biggest buy was a new position in Thermo Fisher Scientific (TMO) and the biggest sale an exit from Brookfield (BN).
- Most Recent 13F
- Q2 2026
- Location
- SAN ANTONIO, TX
- CIK
- 0001984180
- Portfolio Value
- $392.9M (Q1 2026)
- SEC Filing
- 0001984180-26-000003 ↗ filed Apr 8, 2026
Holdings Value
Holdings 31 stocks · $392.9M
| TSM Taiwan Semiconductor-SP ADR | 5.47% | 63,631 | $21.5M | Reduce -0.9% |
| GOOGL Alphabet Inc. Class A | 5.10% | 69,693 | $20.0M | Add +1.5% |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 4.65% | 13,835 | $18.3M | Reduce -18.2% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 4.30% | 79,743 | $16.9M | Add +1.5% |
| PSX Phillips 66 | 4.26% | 91,834 | $16.7M | Add +2.0% |
| DE Deere & Co. | 4.12% | 28,720 | $16.2M | Add +1.6% |
| VNT Vontier Corp. | 3.89% | 431,274 | $15.3M | Add +1.9% |
| SHEL Shell PLC-ADR | 3.87% | 163,522 | $15.2M | Reduce -0.9% |
| ICLR Icon PLC | 3.79% | 134,469 | $14.9M | Add +153.4% |
| LRCX Lam Research Corp. | 3.64% | 66,962 | $14.3M | Reduce -23.6% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C | 3.63% | 205,596 | $14.2M | Reduce -0.9% |
| PEP Pepsico Inc. | 3.60% | 91,061 | $14.1M | Add +1.7% |
| TMO Thermo Fisher Scientific Inc. | 3.57% | 28,566 | $14.0M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 3.50% | 28,737 | $13.8M | Add +2.0% |
| CMI Cummins Inc. | 3.44% | 25,155 | $13.5M | Reduce -27.2% |
| MRK Merck & Co. Inc. | 3.34% | 109,252 | $13.1M | Add +1.7% |
| EMR Emerson Electric Co. | 3.24% | 97,196 | $12.7M | Add +1.6% |
| NVS Novartis AG-Sponsored ADR | 3.14% | 80,768 | $12.3M | Reduce -1.0% |
| TXN Texas Instruments Inc. | 3.06% | 61,890 | $12.0M | Add +1.7% |
| POOL Pool Corp. | 2.78% | 54,028 | $10.9M | Add +99.8% |
| COF Capital One Financial Corp. | 2.74% | 59,070 | $10.8M | Add +1.6% |
| MTN Vail Resorts Inc. | 2.67% | 81,787 | $10.5M | Add +1.4% |
| UL Unilever PLC-Sponsored ADR | 2.66% | 183,151 | $10.4M | Add +33.3% |
| ACN Accenture PLC Class A | 2.64% | 52,328 | $10.4M | Add +1.1% |
| ABEV Ambev SA-ADR | 2.62% | 3,527,367 | $10.3M | Reduce -0.9% |
| WFC Wells Fargo & Co. | 2.59% | 127,868 | $10.2M | Add +1.2% |
| CALM Cal-Maine Foods Inc. | 2.50% | 123,967 | $9.8M | Add +3.9% |
| IBOC International Bancshares CRP | 2.18% | 127,460 | $8.6M | No change |
| NVO Novo-Nordisk A/S-Spons ADR | 1.53% | 163,850 | $6.0M | Reduce -0.9% |
| DEO Diageo PLC-Sponsored ADR | 1.38% | 72,709 | $5.4M | Reduce -0.9% |
| GOOG Alphabet Inc. Class C | 0.09% | 1,218 | $349K | No change |
Portfolio Sells Q4 2025 → Q1 2026
| BN Brookfield Corp. | Sold out | 0.00% | −5.04 |
| CMI Cummins Inc. | Reduce -27.2% | 3.44% | −1.13 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -0.9% | 1.53% | −0.65 |
| BNS Bank of Nova Scotia | Reduce -0.9% | 3.63% | −0.34 |
| DEO Diageo PLC-Sponsored ADR | Reduce -0.9% | 1.38% | −0.27 |
| LRCX Lam Research Corp. | Reduce -23.6% | 3.64% | −0.25 |
| MICC The Magnum Ice Cream Co. NV | Sold out | 0.00% | −0.13 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -18.2% | 4.65% | −0.04 |
| NVS Novartis AG-Sponsored ADR | Reduce -1.0% | 3.14% | +0.22 |
| ABEV Ambev SA-ADR | Reduce -0.9% | 2.62% | +0.34 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -0.9% | 5.47% | +0.41 |
| SHEL Shell PLC-ADR | Reduce -0.9% | 3.87% | +0.72 |
Portfolio Buys Q4 2025 → Q1 2026
| TMO Thermo Fisher Scientific Inc. | New | 3.57% | +3.57 |
| ICLR Icon PLC | Add +153.4% | 3.79% | +1.28 |
| PSX Phillips 66 | Add +2.0% | 4.26% | +1.24 |
| POOL Pool Corp. | Add +99.8% | 2.78% | +1.18 |
| DE Deere & Co. | Add +1.6% | 4.12% | +0.70 |
| MRK Merck & Co. Inc. | Add +1.7% | 3.34% | +0.41 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Add +1.5% | 4.30% | +0.34 |
| TXN Texas Instruments Inc. | Add +1.7% | 3.06% | +0.32 |
| PEP Pepsico Inc. | Add +1.7% | 3.60% | +0.27 |
| UL Unilever PLC-Sponsored ADR | Add +33.3% | 2.66% | +0.18 |
| CALM Cal-Maine Foods Inc. | Add +3.9% | 2.50% | +0.03 |
| EMR Emerson Electric Co. | Add +1.6% | 3.24% | −0.05 |
| MTN Vail Resorts Inc. | Add +1.4% | 2.67% | −0.11 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +2.0% | 3.50% | −0.17 |
| VNT Vontier Corp. | Add +1.9% | 3.89% | −0.19 |
| WFC Wells Fargo & Co. | Add +1.2% | 2.59% | −0.47 |
| GOOGL Alphabet Inc. Class A | Add +1.5% | 5.10% | −0.47 |
| COF Capital One Financial Corp. | Add +1.6% | 2.74% | −0.91 |
| ACN Accenture PLC Class A | Add +1.1% | 2.64% | −0.96 |
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 |