Focused Investors LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 28, 2025), Focused Investors LLC reported 23 stock positions worth $3.3 billion. Its top holding was Goldman Sachs (GS) at 7.0% of the portfolio, followed by Cigna (CI, 6.4%) and Morgan Stanley (MS, 6.3%). Compared with Q2 2025, it added to 21 and reduced 2. The biggest buy was Johnson & Johnson (JNJ, shares +4%) and the biggest sale Oracle (ORCL, shares −61%).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001426398
- Portfolio Value
- $3.3B (Q3 2025)
- SEC Filing
- 0001426398-25-000009 ↗ filed Oct 28, 2025
Holdings Value
Holdings 23 stocks · $3.3B
| GS Goldman Sachs Group Inc. | 7.02% | 288,000 | $229.3M | Add +5.7% |
| CI The Cigna Group | 6.44% | 729,950 | $210.4M | Add +30.4% |
| MS Morgan Stanley | 6.33% | 1,301,500 | $206.9M | Add +4.1% |
| FISV Fiserv Inc. | 6.20% | 1,571,750 | $202.6M | Add +22.5% |
| JNJ Johnson & Johnson | 5.59% | 984,750 | $182.6M | Add +3.9% |
| UNH Unitedhealth Group Inc. | 5.45% | 516,000 | $178.2M | Add +2.4% |
| ELV Elevance Health Inc. | 5.31% | 536,600 | $173.4M | Add +4.2% |
| MSFT Microsoft Corp. | 5.02% | 316,400 | $163.9M | Reduce -0.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 4.71% | 1,343,350 | $153.8M | Add +15.2% |
| AXP American Express Co. | 4.53% | 446,100 | $148.2M | Add +4.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 4.25% | 961,650 | $139.0M | Add +4.5% |
| LHX L3HARRIS Technologies Inc. | 4.19% | 448,450 | $137.0M | Add +4.2% |
| RTX RTX Corp. | 4.00% | 780,800 | $130.7M | Add +4.5% |
| MCD McDonald's Corp. | 3.99% | 428,850 | $130.3M | Add +4.4% |
| NOC Northrop Grumman Corp. | 3.95% | 211,800 | $129.1M | Add +4.1% |
| FDX FedEx Corp. | 3.57% | 495,000 | $116.7M | Add +4.6% |
| LOW Lowe's Cos Inc. | 3.51% | 456,700 | $114.8M | Add +4.5% |
| PEP Pepsico Inc. | 3.07% | 714,650 | $100.4M | Add +34.5% |
| GPN Global Payments Inc. | 3.06% | 1,204,800 | $100.1M | Add +3.2% |
| ORCL Oracle Corp. | 3.03% | 352,150 | $99.0M | Reduce -61.1% |
| HD Home Depot Inc. | 2.73% | 220,250 | $89.2M | Add +4.1% |
| LMT Lockheed Martin Corp. | 2.62% | 171,700 | $85.7M | Add +4.1% |
| CNC Centene Corp. | 1.42% | 1,299,200 | $46.4M | Add +3.9% |
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
| JNJ Johnson & Johnson | Add +3.9% | 5.59% | +0.85 |
| PEP Pepsico Inc. | Add +34.5% | 3.07% | +0.78 |
| GS Goldman Sachs Group Inc. | Add +5.7% | 7.02% | +0.71 |
| LHX L3HARRIS Technologies Inc. | Add +4.2% | 4.19% | +0.66 |
| NOC Northrop Grumman Corp. | Add +4.1% | 3.95% | +0.62 |
| MS Morgan Stanley | Add +4.1% | 6.33% | +0.57 |
| TJX TJX Companies Inc. | Add +4.5% | 4.25% | +0.54 |
| RTX RTX Corp. | Add +4.5% | 4.00% | +0.43 |
| CI The Cigna Group | Add +30.4% | 6.44% | +0.38 |
| LOW Lowe's Cos Inc. | Add +4.5% | 3.51% | +0.34 |
| UNH Unitedhealth Group Inc. | Add +2.4% | 5.45% | +0.31 |
| HD Home Depot Inc. | Add +4.1% | 2.73% | +0.19 |
| LMT Lockheed Martin Corp. | Add +4.1% | 2.62% | +0.12 |
| AXP American Express Co. | Add +4.3% | 4.53% | +0.07 |
| MCD McDonald's Corp. | Add +4.4% | 3.99% | +0.06 |
| FDX FedEx Corp. | Add +4.6% | 3.57% | +0.05 |
| GPN Global Payments Inc. | Add +3.2% | 3.06% | +0.00 |
| DIS The Walt Disney Co. | Add +15.2% | 4.71% | −0.02 |
| CNC Centene Corp. | Add +3.9% | 1.42% | −0.80 |
| FISV Fiserv Inc. | Add +22.5% | 6.20% | −1.04 |
| ELV Elevance Health Inc. | Add +4.2% | 5.31% | −1.25 |
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 |