Focused Investors LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), Focused Investors LLC reported 23 stock positions worth $3.2 billion. Its top holding was Elevance Health (ELV) at 7.8% of the portfolio, followed by Cigna (CI, 6.4%) and Microsoft (MSFT, 6.4%). Compared with Q4 2023, it added to 1 and reduced 22. The biggest buy was Elevance Health (ELV, shares +5%) and the biggest sale Unitedhealth (UNH, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001426398
- Portfolio Value
- $3.2B (Q1 2024)
- SEC Filing
- 0001426398-24-000004 ↗ filed May 14, 2024
Holdings Value
Holdings 23 stocks · $3.2B
| ELV Elevance Health Inc. | 7.83% | 481,900 | $249.9M | Add +4.6% |
| CI The Cigna Group | 6.44% | 565,900 | $205.5M | Reduce -5.8% |
| MSFT Microsoft Corp. | 6.35% | 482,150 | $202.9M | Reduce -14.4% |
| JNJ Johnson & Johnson | 6.08% | 1,226,350 | $194.0M | Reduce -5.9% |
| UNH Unitedhealth Group Inc. | 5.84% | 376,650 | $186.3M | Reduce -5.9% |
| FISV Fiserv Inc. | 5.69% | 1,136,000 | $181.6M | Reduce -5.8% |
| ORCL Oracle Corp. | 5.15% | 1,309,750 | $164.5M | Reduce -5.9% |
| MS Morgan Stanley | 5.00% | 1,696,200 | $159.7M | Reduce -5.8% |
| FDX FedEx Corp. | 4.74% | 522,600 | $151.4M | Reduce -5.6% |
| GS Goldman Sachs Group Inc. | 4.58% | 350,300 | $146.3M | Reduce -6.0% |
| MCD McDonald's Corp. | 4.01% | 454,300 | $128.1M | Reduce -5.8% |
| TGT Target Corp. | 3.93% | 708,400 | $125.5M | Reduce -5.9% |
| LOW Lowe's Cos Inc. | 3.85% | 482,300 | $122.9M | Reduce -5.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 3.78% | 986,050 | $120.7M | Reduce -6.3% |
| NOC Northrop Grumman Corp. | 3.39% | 226,400 | $108.4M | Reduce -6.1% |
| AXP American Express Co. | 3.36% | 471,600 | $107.4M | Reduce -5.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 3.23% | 1,017,000 | $103.1M | Reduce -5.7% |
| LHX L3HARRIS Technologies Inc. | 3.19% | 478,050 | $101.9M | Reduce -6.0% |
| PEP Pepsico Inc. | 3.17% | 579,000 | $101.3M | Reduce -5.6% |
| LMT Lockheed Martin Corp. | 3.03% | 212,400 | $96.6M | Reduce -5.8% |
| HD Home Depot Inc. | 2.82% | 234,850 | $90.1M | Reduce -6.2% |
| RTX RTX Corp. | 2.52% | 826,350 | $80.6M | Reduce -5.7% |
| KO The Coca-Cola Co. | 2.02% | 1,054,050 | $64.5M | Reduce -5.8% |
Portfolio Sells Q4 2023 → Q1 2024
| UNH Unitedhealth Group Inc. | Reduce -5.9% | 5.84% | −0.99 |
| MCD McDonald's Corp. | Reduce -5.8% | 4.01% | −0.62 |
| JNJ Johnson & Johnson | Reduce -5.9% | 6.08% | −0.53 |
| MSFT Microsoft Corp. | Reduce -14.4% | 6.35% | −0.50 |
| MS Morgan Stanley | Reduce -5.8% | 5.00% | −0.43 |
| LMT Lockheed Martin Corp. | Reduce -5.8% | 3.03% | −0.28 |
| LHX L3HARRIS Technologies Inc. | Reduce -6.0% | 3.19% | −0.28 |
| NOC Northrop Grumman Corp. | Reduce -6.1% | 3.39% | −0.26 |
| PEP Pepsico Inc. | Reduce -5.6% | 3.17% | −0.20 |
| KO The Coca-Cola Co. | Reduce -5.8% | 2.02% | −0.11 |
| GS Goldman Sachs Group Inc. | Reduce -6.0% | 4.58% | −0.07 |
| TJX TJX Companies Inc. | Reduce -5.7% | 3.23% | −0.04 |
| HD Home Depot Inc. | Reduce -6.2% | 2.82% | +0.01 |
| RTX RTX Corp. | Reduce -5.7% | 2.52% | +0.14 |
| LOW Lowe's Cos Inc. | Reduce -5.9% | 3.85% | +0.15 |
| FDX FedEx Corp. | Reduce -5.6% | 4.74% | +0.21 |
| AXP American Express Co. | Reduce -5.5% | 3.36% | +0.34 |
| ORCL Oracle Corp. | Reduce -5.9% | 5.15% | +0.40 |
| TGT Target Corp. | Reduce -5.9% | 3.93% | +0.46 |
| FISV Fiserv Inc. | Reduce -5.8% | 5.69% | +0.50 |
| CI The Cigna Group | Reduce -5.8% | 6.44% | +0.61 |
| DIS The Walt Disney Co. | Reduce -6.3% | 3.78% | +0.70 |
Portfolio Buys Q4 2023 → Q1 2024
| ELV Elevance Health Inc. | Add +4.6% | 7.83% | +0.80 |
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 |