Foundation Resource Management Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 14, 2025), Foundation Resource Management Inc. reported 52 stock positions worth $598.7 million. Its top holding was Exxon Mobil (XOM) at 7.8% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 7.6%) and Teck Resources Ltd.-CLS B (TECK, 6.7%). Compared with Q3 2024, it opened 2 new positions, sold out of 2, added to 11 and reduced 32. The biggest buy was a new position in Nutrien (NTR) and the biggest sale Newmont (NEM, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- LITTLE ROCK, AR
- CIK
- 0001179232
- Portfolio Value
- $598.7M (Q4 2024)
- SEC Filing
- 0001179232-25-000001 ↗ filed Jan 14, 2025
Holdings Value
Holdings 52 stocks · $598.7M
| XOM Exxon Mobil Corp. | 7.77% | 432,349 | $46.5M | Reduce -0.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 7.61% | 100,459 | $45.5M | Add +0.5% |
| TECK Teck Resources Ltd.-CLS B | 6.71% | 991,193 | $40.2M | Reduce -1.9% |
| CVX Chevron Corp. | 5.80% | 239,953 | $34.8M | Reduce -0.1% |
| CCJ Cameco Corp. | 4.92% | 572,785 | $29.4M | Reduce -1.1% |
| COP Conocophillips | 4.83% | 291,691 | $28.9M | Reduce -1.1% |
| NEM Newmont Corp. | 4.36% | 702,042 | $26.1M | Reduce -0.5% |
| VZ Verizon Communications Inc. | 4.22% | 632,111 | $25.3M | Reduce -0.4% |
| AEM Agnico Eagle Mines Ltd. | 4.13% | 316,516 | $24.8M | Reduce -0.3% |
| GILD Gilead Sciences Inc. | 3.20% | 207,719 | $19.2M | Reduce -0.0% |
| FHI Federated Hermes Inc. | 2.85% | 415,577 | $17.1M | Reduce -0.6% |
| MOS The Mosaic Co. | 2.60% | 632,263 | $15.5M | Reduce -0.3% |
| PFE Pfizer Inc. | 2.52% | 569,007 | $15.1M | Reduce -0.9% |
| SNY Sanofi-ADR | 2.19% | 272,267 | $13.1M | Reduce -0.4% |
| MRK Merck & Co. Inc. | 2.11% | 126,828 | $12.6M | Reduce -0.5% |
| ABEV Ambev SA-ADR | 2.10% | 6,802,015 | $12.6M | Reduce -0.3% |
| HPQ HP Inc. | 2.06% | 377,423 | $12.3M | Reduce -0.7% |
| BEN Franklin Templeton Inc. | 1.94% | 572,379 | $11.6M | Reduce -2.3% |
| L Loews Corp. | 1.89% | 133,585 | $11.3M | Add +17.6% |
| INTC Intel Corp. | 1.83% | 547,312 | $11.0M | Reduce -1.0% |
| PARAA Paramount Global Class B | 1.81% | 1,037,987 | $10.9M | Reduce -4.6% |
| B Barrick Gold Corp. | 1.76% | 681,447 | $10.6M | Reduce -1.5% |
| KHC The Kraft Heinz Co. | 1.63% | 318,334 | $9.8M | Reduce -0.9% |
| BMY Bristol-Myers Squibb Co. | 1.48% | 156,519 | $8.9M | Reduce -0.5% |
| FCX Freeport-McMoran Inc. | 1.46% | 229,409 | $8.7M | Add +0.2% |
| CSCO Cisco Systems Inc. | 1.43% | 144,741 | $8.6M | Reduce -0.6% |
| NTR Nutrien Ltd. | 1.29% | 173,060 | $7.7M | New |
| TRC Tejon Ranch Co. | 1.29% | 484,596 | $7.7M | Reduce -0.7% |
| DG Dollar General Corp. | 1.26% | 99,148 | $7.5M | Add +1.7% |
| PSX Phillips 66 | 1.24% | 64,915 | $7.4M | Reduce -0.9% |
| PBT Permian Basin Royalty Trust | 1.23% | 662,541 | $7.3M | Reduce -1.0% |
| CNH CNH Industrial NV | 1.21% | 639,821 | $7.2M | Add +0.3% |
| PKE Park Aerospace Corp. | 1.15% | 469,278 | $6.9M | Add +0.8% |
| CVE Cenovus Energy Inc. | 1.10% | 435,264 | $6.6M | Add +1.5% |
| TEN Tsakos Energy Navigation Ltd. | 1.04% | 360,547 | $6.3M | Reduce -0.9% |
| APA Apa Corp. | 0.61% | 159,319 | $3.7M | Add +5.2% |
| OVV Ovintiv Inc. | 0.60% | 89,292 | $3.6M | Add +0.9% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.57% | 5 | $3.4M | No change |
| EAF Graftech International Ltd. | 0.52% | 1,791,255 | $3.1M | Reduce -4.4% |
| DVN Devon Energy Corp. | 0.48% | 87,739 | $2.9M | Add +2.3% |
| WMT Walmart Inc. | 0.29% | 19,376 | $1.8M | Reduce -0.8% |
| AGI Alamos Gold Inc. Class A | 0.16% | 50,995 | $940K | Add +23.1% |
| RIG Transocean Ltd. | 0.12% | 188,948 | $709K | Reduce -1.5% |
| MPC Marathon Petroleum Corp. | 0.11% | 4,929 | $688K | No change |
| TRV The Travelers Cos Inc. | 0.11% | 2,640 | $636K | Reduce -0.9% |
| CB Chubb Ltd. | 0.10% | 2,129 | $588K | No change |
| MAGN Magnera Corp. | 0.09% | 30,085 | $547K | New |
| IMO Imperial Oil Ltd. | 0.07% | 6,945 | $428K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.05% | 1,399 | $308K | No change |
| EMN Eastman Chemical Co. | 0.04% | 2,400 | $219K | No change |
| RTX RTX Corp. | 0.03% | 1,749 | $202K | No change |
| SJT San Juan Basin Royalty TR | 0.01% | 14,565 | $56K | Reduce -3.3% |
Portfolio Sells Q3 2024 → Q4 2024
| NEM Newmont Corp. | Reduce -0.5% | 4.36% | −1.47 |
| TECK Teck Resources Ltd.-CLS B | Reduce -1.9% | 6.71% | −1.45 |
| ABEV Ambev SA-ADR | Reduce -0.3% | 2.10% | −0.47 |
| TEN Tsakos Energy Navigation Ltd. | Reduce -0.9% | 1.04% | −0.37 |
| B Barrick Gold Corp. | Reduce -1.5% | 1.76% | −0.36 |
| SNY Sanofi-ADR | Reduce -0.4% | 2.19% | −0.24 |
| VZ Verizon Communications Inc. | Reduce -0.4% | 4.22% | −0.18 |
| INTC Intel Corp. | Reduce -1.0% | 1.83% | −0.17 |
| MRK Merck & Co. Inc. | Reduce -0.5% | 2.11% | −0.13 |
| GLATFELTER CORP | Sold out | 0.00% | −0.12 |
| KHC The Kraft Heinz Co. | Reduce -0.9% | 1.63% | −0.11 |
| XOM Exxon Mobil Corp. | Reduce -0.4% | 7.77% | −0.10 |
| PSX Phillips 66 | Reduce -0.9% | 1.24% | −0.10 |
| HPQ HP Inc. | Reduce -0.7% | 2.06% | −0.05 |
| PFE Pfizer Inc. | Reduce -0.9% | 2.52% | −0.05 |
| TRC Tejon Ranch Co. | Reduce -0.7% | 1.29% | −0.04 |
| MUR Murphy Oil Corp. | Sold out | 0.00% | −0.03 |
| MOS The Mosaic Co. | Reduce -0.3% | 2.60% | −0.03 |
| RIG Transocean Ltd. | Reduce -1.5% | 0.12% | −0.01 |
| PBT Permian Basin Royalty Trust | Reduce -1.0% | 1.23% | −0.00 |
| SJT San Juan Basin Royalty TR | Reduce -3.3% | 0.01% | +0.00 |
| TRV The Travelers Cos Inc. | Reduce -0.9% | 0.11% | +0.01 |
| PARAA Paramount Global Class B | Reduce -4.6% | 1.81% | +0.03 |
| COP Conocophillips | Reduce -1.1% | 4.83% | +0.03 |
| WMT Walmart Inc. | Reduce -0.8% | 0.29% | +0.05 |
| BEN Franklin Templeton Inc. | Reduce -2.3% | 1.94% | +0.12 |
| EAF Graftech International Ltd. | Reduce -4.4% | 0.52% | +0.14 |
| AEM Agnico Eagle Mines Ltd. | Reduce -0.3% | 4.13% | +0.18 |
| BMY Bristol-Myers Squibb Co. | Reduce -0.5% | 1.48% | +0.22 |
| CSCO Cisco Systems Inc. | Reduce -0.6% | 1.43% | +0.23 |
| CVX Chevron Corp. | Reduce -0.1% | 5.80% | +0.33 |
| FHI Federated Hermes Inc. | Reduce -0.6% | 2.85% | +0.48 |
| GILD Gilead Sciences Inc. | Reduce -0.0% | 3.20% | +0.51 |
| CCJ Cameco Corp. | Reduce -1.1% | 4.92% | +0.64 |
Portfolio Buys Q3 2024 → Q4 2024
| NTR Nutrien Ltd. | New | 1.29% | +1.29 |
| L Loews Corp. | Add +17.6% | 1.89% | +0.50 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.5% | 7.61% | +0.50 |
| PKE Park Aerospace Corp. | Add +0.8% | 1.15% | +0.21 |
| CNH CNH Industrial NV | Add +0.3% | 1.21% | +0.12 |
| MAGN Magnera Corp. | New | 0.09% | +0.09 |
| OVV Ovintiv Inc. | Add +0.9% | 0.60% | +0.08 |
| APA Apa Corp. | Add +5.2% | 0.61% | +0.04 |
| AGI Alamos Gold Inc. Class A | Add +23.1% | 0.16% | +0.03 |
| CVE Cenovus Energy Inc. | Add +1.5% | 1.10% | −0.01 |
| DG Dollar General Corp. | Add +1.7% | 1.26% | −0.02 |
| DVN Devon Energy Corp. | Add +2.3% | 0.48% | −0.04 |
| FCX Freeport-McMoran Inc. | Add +0.2% | 1.46% | −0.31 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 56 | $859.7M | XOM, TECK, BRK.B, NEM, CVX |
| Q1 2026 | 55 | $888.5M | XOM, NEM, CVX, TECK, BRK.B |
| Q4 2025 | 52 | $747.5M | NEM, XOM, BRK.B, TECK, DG |
| Q3 2025 | 51 | $696.0M | BRK.B, NEM, XOM, TECK, CVX |
| Q2 2025 | 50 | $646.7M | BRK.B, XOM, NEM, TECK, AEM |
| Q1 2025 | 50 | $634.4M | BRK.B, XOM, CVX, TECK, AEM |
| Q4 2024 | 52 | $598.7M | XOM, BRK.B, TECK, CVX, CCJ |
| Q3 2024 | 52 | $646.9M | TECK, XOM, BRK.B, NEM, CVX |
| Q2 2024 | 52 | $625.9M | XOM, TECK, BRK.B, CVX, COP |
| Q1 2024 | 52 | $636.6M | XOM, TECK, BRK.B, COP, CVX |