Focused Investors LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 27, 2026), Focused Investors LLC reported 22 stock positions worth $3.1 billion. Its top holding was Goldman Sachs (GS) at 7.8% of the portfolio, followed by Morgan Stanley (MS, 7.1%) and Johnson & Johnson (JNJ, 6.3%). Compared with Q3 2025, it sold out of 1, added to 3 and reduced 19. The biggest buy was Pepsico (PEP, shares +54%) and the biggest sale an exit from Fiserv (FISV).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001426398
- Portfolio Value
- $3.1B (Q4 2025)
- SEC Filing
- 0001426398-26-000003 ↗ filed Jan 27, 2026
Holdings Value
Holdings 22 stocks · $3.1B
| GS Goldman Sachs Group Inc. | 7.79% | 278,300 | $244.6M | Reduce -3.4% |
| MS Morgan Stanley | 7.12% | 1,258,950 | $223.5M | Reduce -3.3% |
| JNJ Johnson & Johnson | 6.32% | 959,600 | $198.6M | Reduce -2.5% |
| CI The Cigna Group | 6.21% | 709,000 | $195.1M | Reduce -2.9% |
| ELV Elevance Health Inc. | 5.83% | 522,700 | $183.2M | Reduce -2.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 5.52% | 1,523,050 | $173.3M | Add +13.4% |
| UNH Unitedhealth Group Inc. | 5.28% | 502,100 | $165.7M | Reduce -2.7% |
| AXP American Express Co. | 5.12% | 434,550 | $160.8M | Reduce -2.6% |
| PEP Pepsico Inc. | 5.03% | 1,100,750 | $158.0M | Add +54.0% |
| MSFT Microsoft Corp. | 4.72% | 306,600 | $148.3M | Reduce -3.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 4.58% | 936,300 | $143.8M | Reduce -2.6% |
| RTX RTX Corp. | 4.44% | 760,050 | $139.4M | Reduce -2.7% |
| FDX FedEx Corp. | 4.42% | 480,800 | $138.9M | Reduce -2.9% |
| LHX L3HARRIS Technologies Inc. | 4.09% | 437,200 | $128.3M | Reduce -2.5% |
| MCD McDonald's Corp. | 4.06% | 417,300 | $127.5M | Reduce -2.7% |
| NOC Northrop Grumman Corp. | 3.77% | 207,700 | $118.4M | Reduce -1.9% |
| GPN Global Payments Inc. | 3.60% | 1,462,200 | $113.2M | Add +21.4% |
| LOW Lowe's Cos Inc. | 3.42% | 445,450 | $107.4M | Reduce -2.5% |
| LMT Lockheed Martin Corp. | 2.57% | 167,100 | $80.8M | Reduce -2.7% |
| HD Home Depot Inc. | 2.33% | 212,700 | $73.2M | Reduce -3.4% |
| ORCL Oracle Corp. | 2.13% | 343,050 | $66.9M | Reduce -2.6% |
| CNC Centene Corp. | 1.66% | 1,264,350 | $52.0M | Reduce -2.7% |
Portfolio Sells Q3 2025 → Q4 2025
| FISV Fiserv Inc. | Sold out | 0.00% | −6.20 |
| ORCL Oracle Corp. | Reduce -2.6% | 2.13% | −0.90 |
| HD Home Depot Inc. | Reduce -3.4% | 2.33% | −0.40 |
| MSFT Microsoft Corp. | Reduce -3.1% | 4.72% | −0.29 |
| CI The Cigna Group | Reduce -2.9% | 6.21% | −0.23 |
| NOC Northrop Grumman Corp. | Reduce -1.9% | 3.77% | −0.18 |
| UNH Unitedhealth Group Inc. | Reduce -2.7% | 5.28% | −0.18 |
| LHX L3HARRIS Technologies Inc. | Reduce -2.5% | 4.09% | −0.11 |
| LOW Lowe's Cos Inc. | Reduce -2.5% | 3.42% | −0.09 |
| LMT Lockheed Martin Corp. | Reduce -2.7% | 2.57% | −0.05 |
| MCD McDonald's Corp. | Reduce -2.7% | 4.06% | +0.07 |
| CNC Centene Corp. | Reduce -2.7% | 1.66% | +0.24 |
| TJX TJX Companies Inc. | Reduce -2.6% | 4.58% | +0.33 |
| RTX RTX Corp. | Reduce -2.7% | 4.44% | +0.44 |
| ELV Elevance Health Inc. | Reduce -2.6% | 5.83% | +0.53 |
| AXP American Express Co. | Reduce -2.6% | 5.12% | +0.58 |
| JNJ Johnson & Johnson | Reduce -2.5% | 6.32% | +0.73 |
| GS Goldman Sachs Group Inc. | Reduce -3.4% | 7.79% | +0.77 |
| MS Morgan Stanley | Reduce -3.3% | 7.12% | +0.78 |
| FDX FedEx Corp. | Reduce -2.9% | 4.42% | +0.85 |
Portfolio Buys Q3 2025 → Q4 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 |