Focused Investors LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 28, 2026), Focused Investors LLC reported 23 stock positions worth $3.0 billion. Its top holding was Goldman Sachs (GS) at 8.3% of the portfolio, followed by Morgan Stanley (MS, 7.8%) and Johnson & Johnson (JNJ, 7.3%). Compared with Q1 2026, it opened 2 new positions, sold out of 1 and reduced 21. The biggest buy was a new position in Marsh & McLennan Cos (MRSH) and the biggest sale an exit from RTX (RTX).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001426398
- Portfolio Value
- $3.0B (Q2 2026)
- SEC Filing
- 0001426398-26-000007 ↗ filed Jul 28, 2026
Holdings Value
Holdings 23 stocks · $3.0B
| GS Goldman Sachs Group Inc. | 8.33% | 244,000 | $246.8M | Reduce -10.0% |
| MS Morgan Stanley | 7.79% | 1,104,050 | $230.8M | Reduce -10.1% |
| JNJ Johnson & Johnson | 7.27% | 847,800 | $215.3M | Reduce -9.4% |
| UNH Unitedhealth Group Inc. | 6.22% | 443,500 | $184.3M | Reduce -9.4% |
| ELV Elevance Health Inc. | 6.03% | 461,600 | $178.5M | Reduce -9.4% |
| CI The Cigna Group | 5.82% | 625,900 | $172.5M | Reduce -10.4% |
| MSFT Microsoft Corp. | 5.46% | 433,700 | $161.8M | Reduce -9.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 5.41% | 1,664,650 | $160.2M | Reduce -9.6% |
| AXP American Express Co. | 5.20% | 455,650 | $154.1M | Reduce -9.3% |
| FDX FedEx Corp. | 4.49% | 425,000 | $133.1M | Reduce -9.4% |
| PEP Pepsico Inc. | 4.45% | 972,650 | $131.7M | Reduce -9.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 4.22% | 825,300 | $125.0M | Reduce -9.6% |
| MCD McDonald's Corp. | 3.36% | 367,800 | $99.4M | Reduce -9.7% |
| GPN Global Payments Inc. | 3.19% | 1,300,800 | $94.4M | Reduce -9.3% |
| LOW Lowe's Cos Inc. | 2.91% | 390,950 | $86.2M | Reduce -10.0% |
| LHX L3HARRIS Technologies Inc. | 2.79% | 284,150 | $82.6M | Reduce -9.6% |
| ORCL Oracle Corp. | 2.76% | 557,750 | $81.7M | Reduce -9.6% |
| NOC Northrop Grumman Corp. | 2.76% | 160,300 | $81.6M | Reduce -9.6% |
| LMT Lockheed Martin Corp. | 2.54% | 147,900 | $75.3M | Reduce -9.3% |
| CNC Centene Corp. | 2.42% | 1,117,750 | $71.7M | Reduce -9.4% |
| MRSH Marsh & McLennan Cos | 2.27% | 404,300 | $67.4M | New |
| HD Home Depot Inc. | 2.24% | 188,500 | $66.5M | Reduce -9.2% |
| ACN Accenture PLC Class A | 2.07% | 492,400 | $61.3M | New |
Portfolio Sells Q1 2026 → Q2 2026
| RTX RTX Corp. | Sold out | 0.00% | −3.48 |
| NOC Northrop Grumman Corp. | Reduce -9.6% | 2.76% | −1.18 |
| PEP Pepsico Inc. | Reduce -9.3% | 4.45% | −0.97 |
| FDX FedEx Corp. | Reduce -9.4% | 4.49% | −0.94 |
| MCD McDonald's Corp. | Reduce -9.7% | 3.36% | −0.76 |
| LHX L3HARRIS Technologies Inc. | Reduce -9.6% | 2.79% | −0.74 |
| LMT Lockheed Martin Corp. | Reduce -9.3% | 2.54% | −0.66 |
| TJX TJX Companies Inc. | Reduce -9.6% | 4.22% | −0.52 |
| LOW Lowe's Cos Inc. | Reduce -10.0% | 2.91% | −0.43 |
| DIS The Walt Disney Co. | Reduce -9.6% | 5.41% | −0.37 |
| MSFT Microsoft Corp. | Reduce -9.5% | 5.46% | −0.31 |
| CI The Cigna Group | Reduce -10.4% | 5.82% | −0.23 |
| ORCL Oracle Corp. | Reduce -9.6% | 2.76% | −0.19 |
| JNJ Johnson & Johnson | Reduce -9.4% | 7.27% | −0.17 |
| HD Home Depot Inc. | Reduce -9.2% | 2.24% | +0.02 |
| GPN Global Payments Inc. | Reduce -9.3% | 3.19% | +0.05 |
| AXP American Express Co. | Reduce -9.3% | 5.20% | +0.26 |
| GS Goldman Sachs Group Inc. | Reduce -10.0% | 8.33% | +0.87 |
| CNC Centene Corp. | Reduce -9.4% | 2.42% | +1.11 |
| ELV Elevance Health Inc. | Reduce -9.4% | 6.03% | +1.17 |
| MS Morgan Stanley | Reduce -10.1% | 7.79% | +1.22 |
| UNH Unitedhealth Group Inc. | Reduce -9.4% | 6.22% | +1.91 |
Portfolio Buys Q1 2026 → Q2 2026
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 23 | $3.0B | GS, MS, JNJ, UNH, ELV |
| Q1 2026 | 22 | $3.1B | GS, JNJ, MS, CI, DIS |
| Q4 2025 | 22 | $3.1B | GS, MS, JNJ, CI, ELV |
| Q3 2025 | 23 | $3.3B | GS, CI, MS, FISV, JNJ |
| Q2 2025 | 23 | $3.1B | FISV, ELV, ORCL, GS, CI |
| Q1 2025 | 24 | $3.1B | FISV, ELV, UNH, CI, JNJ |
| Q4 2024 | 24 | $3.2B | FISV, UNH, ELV, GS, ORCL |
| Q3 2024 | 23 | $3.3B | ELV, UNH, FISV, JNJ, CI |
| Q2 2024 | 23 | $3.1B | ELV, UNH, MSFT, FISV, CI |
| Q1 2024 | 23 | $3.2B | ELV, CI, MSFT, JNJ, UNH |