Focused Investors LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 23, 2025), Focused Investors LLC reported 23 stock positions worth $3.1 billion. Its top holding was Fiserv (FISV) at 7.2% of the portfolio, followed by Elevance Health (ELV, 6.6%) and Oracle (ORCL, 6.5%). Compared with Q1 2025, it sold out of 1, added to 5 and reduced 18. The biggest buy was Global Payments (GPN, shares +34%) and the biggest sale an exit from Target (TGT).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001426398
- Portfolio Value
- $3.1B (Q2 2025)
- SEC Filing
- 0001426398-25-000007 ↗ filed Jul 23, 2025
Holdings Value
Holdings 23 stocks · $3.1B
| FISV Fiserv Inc. | 7.24% | 1,283,050 | $221.2M | Add +7.2% |
| ELV Elevance Health Inc. | 6.55% | 514,900 | $200.3M | Add +1.9% |
| ORCL Oracle Corp. | 6.47% | 904,900 | $197.8M | Reduce -13.7% |
| GS Goldman Sachs Group Inc. | 6.31% | 272,600 | $192.9M | Reduce -10.7% |
| CI The Cigna Group | 6.05% | 559,750 | $185.0M | Reduce -2.1% |
| MS Morgan Stanley | 5.76% | 1,249,900 | $176.1M | Reduce -2.1% |
| MSFT Microsoft Corp. | 5.15% | 316,700 | $157.5M | Reduce -2.1% |
| UNH Unitedhealth Group Inc. | 5.14% | 504,000 | $157.2M | Add +21.8% |
| JNJ Johnson & Johnson | 4.74% | 947,650 | $144.8M | Reduce -16.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 4.73% | 1,165,950 | $144.6M | Reduce -2.1% |
| AXP American Express Co. | 4.46% | 427,700 | $136.4M | Reduce -2.0% |
| MCD McDonald's Corp. | 3.93% | 410,750 | $120.0M | Reduce -2.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 3.72% | 920,250 | $113.6M | Reduce -2.1% |
| RTX RTX Corp. | 3.57% | 747,500 | $109.1M | Reduce -2.1% |
| LHX L3HARRIS Technologies Inc. | 3.53% | 430,250 | $107.9M | Reduce -2.1% |
| FDX FedEx Corp. | 3.52% | 473,300 | $107.6M | Reduce -2.1% |
| NOC Northrop Grumman Corp. | 3.33% | 203,500 | $101.7M | Reduce -2.1% |
| LOW Lowe's Cos Inc. | 3.17% | 436,900 | $96.9M | Reduce -2.1% |
| GPN Global Payments Inc. | 3.06% | 1,167,900 | $93.5M | Add +33.9% |
| HD Home Depot Inc. | 2.54% | 211,550 | $77.6M | Reduce -2.1% |
| LMT Lockheed Martin Corp. | 2.50% | 164,900 | $76.4M | Reduce -2.1% |
| PEP Pepsico Inc. | 2.30% | 531,550 | $70.2M | Reduce -0.4% |
| CNC Centene Corp. | 2.22% | 1,250,000 | $67.8M | Add +19.9% |
Portfolio Sells Q1 2025 → Q2 2025
| TGT Target Corp. | Sold out | 0.00% | −2.19 |
| JNJ Johnson & Johnson | Reduce -16.2% | 4.74% | −1.29 |
| MCD McDonald's Corp. | Reduce -2.1% | 3.93% | −0.28 |
| PEP Pepsico Inc. | Reduce -0.4% | 2.30% | −0.27 |
| FDX FedEx Corp. | Reduce -2.1% | 3.52% | −0.26 |
| LOW Lowe's Cos Inc. | Reduce -2.1% | 3.17% | −0.17 |
| NOC Northrop Grumman Corp. | Reduce -2.1% | 3.33% | −0.09 |
| HD Home Depot Inc. | Reduce -2.1% | 2.54% | −0.01 |
| CI The Cigna Group | Reduce -2.1% | 6.05% | +0.01 |
| TJX TJX Companies Inc. | Reduce -2.1% | 3.72% | +0.04 |
| LMT Lockheed Martin Corp. | Reduce -2.1% | 2.50% | +0.08 |
| RTX RTX Corp. | Reduce -2.1% | 3.57% | +0.32 |
| LHX L3HARRIS Technologies Inc. | Reduce -2.1% | 3.53% | +0.58 |
| AXP American Express Co. | Reduce -2.0% | 4.46% | +0.69 |
| DIS The Walt Disney Co. | Reduce -2.1% | 4.73% | +0.96 |
| GS Goldman Sachs Group Inc. | Reduce -10.7% | 6.31% | +0.96 |
| MS Morgan Stanley | Reduce -2.1% | 5.76% | +0.98 |
| MSFT Microsoft Corp. | Reduce -2.1% | 5.15% | +1.25 |
| ORCL Oracle Corp. | Reduce -13.7% | 6.47% | +1.77 |
Portfolio Buys Q1 2025 → Q2 2025
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 |