Foundation Resource Management Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 14, 2025), Foundation Resource Management Inc. reported 50 stock positions worth $634.4 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 8.2% of the portfolio, followed by Exxon Mobil (XOM, 7.8%) and Chevron (CVX, 6.1%). Compared with Q4 2024, it sold out of 2, added to 12 and reduced 33. The biggest buy was Dollar General (DG, shares +185%) and the biggest sale an exit from Paramount Global Class B (PARAA).
- Most Recent 13F
- Q2 2026
- Location
- LITTLE ROCK, AR
- CIK
- 0001179232
- Portfolio Value
- $634.4M (Q1 2025)
- SEC Filing
- 0001179232-25-000002 ↗ filed Apr 14, 2025
Holdings Value
Holdings 50 stocks · $634.4M
| BRK.B Berkshire Hathaway Inc. Class B | 8.21% | 97,773 | $52.1M | Reduce -2.7% |
| XOM Exxon Mobil Corp. | 7.83% | 417,905 | $49.7M | Reduce -3.3% |
| CVX Chevron Corp. | 6.10% | 231,471 | $38.7M | Reduce -3.5% |
| TECK Teck Resources Ltd.-CLS B | 5.45% | 948,721 | $34.6M | Reduce -4.3% |
| AEM Agnico Eagle Mines Ltd. | 5.25% | 307,001 | $33.3M | Reduce -3.0% |
| NEM Newmont Corp. | 5.20% | 683,046 | $33.0M | Reduce -2.7% |
| COP Conocophillips | 4.68% | 282,814 | $29.7M | Reduce -3.0% |
| VZ Verizon Communications Inc. | 4.42% | 618,468 | $28.1M | Reduce -2.2% |
| DG Dollar General Corp. | 3.92% | 282,874 | $24.9M | Add +185.3% |
| CCJ Cameco Corp. | 3.58% | 552,209 | $22.7M | Reduce -3.6% |
| PFE Pfizer Inc. | 3.56% | 892,125 | $22.6M | Add +56.8% |
| MOS The Mosaic Co. | 2.70% | 633,348 | $17.1M | Add +0.2% |
| MRK Merck & Co. Inc. | 2.63% | 186,197 | $16.7M | Add +46.8% |
| FHI Federated Hermes Inc. | 2.58% | 401,678 | $16.4M | Reduce -3.3% |
| ABEV Ambev SA-ADR | 2.50% | 6,814,863 | $15.9M | Add +0.2% |
| SNY Sanofi-ADR | 2.28% | 260,662 | $14.5M | Reduce -4.3% |
| GILD Gilead Sciences Inc. | 1.94% | 109,916 | $12.3M | Reduce -47.1% |
| INTC Intel Corp. | 1.90% | 530,626 | $12.1M | Reduce -3.0% |
| L Loews Corp. | 1.87% | 129,385 | $11.9M | Reduce -3.1% |
| B Barrick Gold Corp. | 1.84% | 601,642 | $11.7M | Reduce -11.7% |
| BEN Franklin Templeton Inc. | 1.75% | 575,466 | $11.1M | Add +0.5% |
| HPQ HP Inc. | 1.61% | 369,476 | $10.2M | Reduce -2.1% |
| KHC The Kraft Heinz Co. | 1.50% | 312,475 | $9.5M | Reduce -1.8% |
| BMY Bristol-Myers Squibb Co. | 1.47% | 152,935 | $9.3M | Reduce -2.3% |
| CSCO Cisco Systems Inc. | 1.36% | 139,823 | $8.6M | Reduce -3.4% |
| NTR Nutrien Ltd. | 1.34% | 170,872 | $8.5M | Reduce -1.3% |
| FCX Freeport-McMoran Inc. | 1.34% | 224,057 | $8.5M | Reduce -2.3% |
| PSX Phillips 66 | 1.23% | 63,346 | $7.8M | Reduce -2.4% |
| CNH CNH Industrial NV | 1.21% | 627,407 | $7.7M | Reduce -1.9% |
| TRC Tejon Ranch Co. | 1.20% | 481,002 | $7.6M | Reduce -0.7% |
| PBT Permian Basin Royalty Trust | 1.01% | 647,872 | $6.4M | Reduce -2.2% |
| PKE Park Aerospace Corp. | 1.00% | 472,810 | $6.4M | Add +0.8% |
| CVE Cenovus Energy Inc. | 0.99% | 451,615 | $6.3M | Add +3.8% |
| TEN Tsakos Energy Navigation Ltd. | 0.95% | 352,432 | $6.0M | Reduce -2.3% |
| OVV Ovintiv Inc. | 0.60% | 89,521 | $3.8M | Add +0.3% |
| APA Apa Corp. | 0.59% | 176,596 | $3.7M | Add +10.8% |
| DVN Devon Energy Corp. | 0.58% | 98,286 | $3.7M | Add +12.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.50% | 4 | $3.2M | Reduce -20.0% |
| EAF Graftech International Ltd. | 0.24% | 1,706,172 | $1.5M | Reduce -4.8% |
| WMT Walmart Inc. | 0.23% | 16,567 | $1.5M | Reduce -14.5% |
| AGI Alamos Gold Inc. Class A | 0.22% | 52,817 | $1.4M | Add +3.6% |
| MPC Marathon Petroleum Corp. | 0.11% | 4,929 | $718K | No change |
| CB Chubb Ltd. | 0.10% | 2,025 | $612K | Reduce -4.9% |
| TRV The Travelers Cos Inc. | 0.10% | 2,286 | $605K | Reduce -13.4% |
| RIG Transocean Ltd. | 0.09% | 185,189 | $587K | Reduce -2.0% |
| IMO Imperial Oil Ltd. | 0.08% | 6,945 | $502K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.05% | 1,399 | $348K | No change |
| RTX RTX Corp. | 0.04% | 1,749 | $232K | No change |
| EMN Eastman Chemical Co. | 0.03% | 2,300 | $203K | Reduce -4.2% |
| SJT San Juan Basin Royalty TR | 0.01% | 14,565 | $81K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| PARAA Paramount Global Class B | Sold out | 0.00% | −1.81 |
| CCJ Cameco Corp. | Reduce -3.6% | 3.58% | −1.33 |
| GILD Gilead Sciences Inc. | Reduce -47.1% | 1.94% | −1.26 |
| TECK Teck Resources Ltd.-CLS B | Reduce -4.3% | 5.45% | −1.26 |
| HPQ HP Inc. | Reduce -2.1% | 1.61% | −0.44 |
| EAF Graftech International Ltd. | Reduce -4.8% | 0.24% | −0.28 |
| FHI Federated Hermes Inc. | Reduce -3.3% | 2.58% | −0.27 |
| PBT Permian Basin Royalty Trust | Reduce -2.2% | 1.01% | −0.21 |
| COP Conocophillips | Reduce -3.0% | 4.68% | −0.15 |
| KHC The Kraft Heinz Co. | Reduce -1.8% | 1.50% | −0.13 |
| FCX Freeport-McMoran Inc. | Reduce -2.3% | 1.34% | −0.12 |
| TEN Tsakos Energy Navigation Ltd. | Reduce -2.3% | 0.95% | −0.10 |
| MAGN Magnera Corp. | Sold out | 0.00% | −0.09 |
| TRC Tejon Ranch Co. | Reduce -0.7% | 1.20% | −0.09 |
| CSCO Cisco Systems Inc. | Reduce -3.4% | 1.36% | −0.07 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -20.0% | 0.50% | −0.07 |
| WMT Walmart Inc. | Reduce -14.5% | 0.23% | −0.06 |
| RIG Transocean Ltd. | Reduce -2.0% | 0.09% | −0.03 |
| L Loews Corp. | Reduce -3.1% | 1.87% | −0.02 |
| TRV The Travelers Cos Inc. | Reduce -13.4% | 0.10% | −0.01 |
| BMY Bristol-Myers Squibb Co. | Reduce -2.3% | 1.47% | −0.01 |
| EMN Eastman Chemical Co. | Reduce -4.2% | 0.03% | −0.00 |
| PSX Phillips 66 | Reduce -2.4% | 1.23% | −0.00 |
| CB Chubb Ltd. | Reduce -4.9% | 0.10% | −0.00 |
| CNH CNH Industrial NV | Reduce -1.9% | 1.21% | +0.00 |
| NTR Nutrien Ltd. | Reduce -1.3% | 1.34% | +0.04 |
| XOM Exxon Mobil Corp. | Reduce -3.3% | 7.83% | +0.07 |
| INTC Intel Corp. | Reduce -3.0% | 1.90% | +0.07 |
| B Barrick Gold Corp. | Reduce -11.7% | 1.84% | +0.08 |
| SNY Sanofi-ADR | Reduce -4.3% | 2.28% | +0.09 |
| VZ Verizon Communications Inc. | Reduce -2.2% | 4.42% | +0.20 |
| CVX Chevron Corp. | Reduce -3.5% | 6.10% | +0.30 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.7% | 8.21% | +0.60 |
| NEM Newmont Corp. | Reduce -2.7% | 5.20% | +0.83 |
| AEM Agnico Eagle Mines Ltd. | Reduce -3.0% | 5.25% | +1.11 |
Portfolio Buys Q4 2024 → Q1 2025
| DG Dollar General Corp. | Add +185.3% | 3.92% | +2.67 |
| PFE Pfizer Inc. | Add +56.8% | 3.56% | +1.04 |
| MRK Merck & Co. Inc. | Add +46.8% | 2.63% | +0.53 |
| ABEV Ambev SA-ADR | Add +0.2% | 2.50% | +0.40 |
| MOS The Mosaic Co. | Add +0.2% | 2.70% | +0.10 |
| DVN Devon Energy Corp. | Add +12.0% | 0.58% | +0.10 |
| AGI Alamos Gold Inc. Class A | Add +3.6% | 0.22% | +0.07 |
| OVV Ovintiv Inc. | Add +0.3% | 0.60% | 0.00 |
| APA Apa Corp. | Add +10.8% | 0.59% | −0.03 |
| CVE Cenovus Energy Inc. | Add +3.8% | 0.99% | −0.11 |
| PKE Park Aerospace Corp. | Add +0.8% | 1.00% | −0.15 |
| BEN Franklin Templeton Inc. | Add +0.5% | 1.75% | −0.19 |
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 |