Foundation Resource Management Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 14, 2025), Foundation Resource Management Inc. reported 50 stock positions worth $646.7 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 7.3% of the portfolio, followed by Exxon Mobil (XOM, 7.0%) and Newmont (NEM, 6.1%). Compared with Q1 2025, it opened 1 new position, sold out of 1, added to 19 and reduced 22. The biggest buy was a new position in Comcast Class A (CMCSA) and the biggest sale Chevron (CVX, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- LITTLE ROCK, AR
- CIK
- 0001179232
- Portfolio Value
- $646.7M (Q2 2025)
- SEC Filing
- 0001179232-25-000003 ↗ filed Jul 14, 2025
Holdings Value
Holdings 50 stocks · $646.7M
| BRK.B Berkshire Hathaway Inc. Class B | 7.25% | 96,577 | $46.9M | Reduce -1.2% |
| XOM Exxon Mobil Corp. | 6.97% | 418,272 | $45.1M | Add +0.1% |
| NEM Newmont Corp. | 6.11% | 678,565 | $39.5M | Reduce -0.7% |
| TECK Teck Resources Ltd.-CLS B | 5.93% | 949,523 | $38.3M | Add +0.1% |
| AEM Agnico Eagle Mines Ltd. | 5.57% | 302,923 | $36.0M | Reduce -1.3% |
| CVX Chevron Corp. | 5.12% | 231,303 | $33.1M | Reduce -0.1% |
| DG Dollar General Corp. | 4.99% | 281,960 | $32.3M | Reduce -0.3% |
| VZ Verizon Communications Inc. | 4.12% | 616,370 | $26.7M | Reduce -0.3% |
| COP Conocophillips | 3.92% | 282,836 | $25.4M | Add +0.0% |
| MOS The Mosaic Co. | 3.61% | 640,328 | $23.4M | Add +1.1% |
| PFE Pfizer Inc. | 3.35% | 892,774 | $21.6M | Add +0.1% |
| CCJ Cameco Corp. | 3.00% | 261,264 | $19.4M | Reduce -52.7% |
| FHI Federated Hermes Inc. | 2.73% | 398,513 | $17.7M | Reduce -0.8% |
| ABEV Ambev SA-ADR | 2.54% | 6,826,347 | $16.5M | Add +0.2% |
| MRK Merck & Co. Inc. | 2.31% | 188,552 | $14.9M | Add +1.3% |
| BEN Franklin Templeton Inc. | 2.14% | 581,327 | $13.9M | Add +1.0% |
| SNY Sanofi-ADR | 1.93% | 257,870 | $12.5M | Reduce -1.1% |
| B Barrick Mining Corp. | 1.92% | 595,734 | $12.4M | Reduce -1.0% |
| GILD Gilead Sciences Inc. | 1.87% | 109,106 | $12.1M | Reduce -0.7% |
| INTC Intel Corp. | 1.82% | 525,219 | $11.8M | Reduce -1.0% |
| L Loews Corp. | 1.81% | 127,396 | $11.7M | Reduce -1.5% |
| NTR Nutrien Ltd. | 1.54% | 170,452 | $9.9M | Reduce -0.3% |
| CSCO Cisco Systems Inc. | 1.49% | 138,431 | $9.6M | Reduce -1.0% |
| FCX Freeport-McMoran Inc. | 1.48% | 220,762 | $9.6M | Reduce -1.5% |
| HPQ HP Inc. | 1.41% | 373,415 | $9.1M | Add +1.1% |
| CNH CNH Industrial NV | 1.27% | 633,405 | $8.2M | Add +1.0% |
| TRC Tejon Ranch Co. | 1.27% | 483,215 | $8.2M | Add +0.5% |
| KHC The Kraft Heinz Co. | 1.25% | 313,349 | $8.1M | Add +0.3% |
| PBT Permian Basin Royalty Trust | 1.24% | 643,257 | $8.0M | Reduce -0.7% |
| PSX Phillips 66 | 1.16% | 62,933 | $7.5M | Reduce -0.7% |
| CMCSA Comcast Corp. Class A | 1.15% | 208,053 | $7.4M | New |
| PKE Park Aerospace Corp. | 1.12% | 491,897 | $7.3M | Add +4.0% |
| BMY Bristol-Myers Squibb Co. | 1.10% | 153,014 | $7.1M | Add +0.1% |
| TEN Tsakos Energy Navigation Ltd. | 1.04% | 349,581 | $6.7M | Reduce -0.8% |
| CVE Cenovus Energy Inc. | 0.98% | 467,702 | $6.4M | Add +3.6% |
| APA Apa Corp. | 0.62% | 220,040 | $4.0M | Add +24.6% |
| DVN Devon Energy Corp. | 0.58% | 117,649 | $3.7M | Add +19.7% |
| OVV Ovintiv Inc. | 0.53% | 90,399 | $3.4M | Add +1.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.45% | 4 | $2.9M | No change |
| EAF Graftech International Ltd. | 0.25% | 1,672,332 | $1.6M | Reduce -2.0% |
| WMT Walmart Inc. | 0.25% | 16,547 | $1.6M | Reduce -0.1% |
| AGI Alamos Gold Inc. Class A | 0.21% | 51,477 | $1.4M | Reduce -2.5% |
| MPC Marathon Petroleum Corp. | 0.13% | 4,929 | $819K | No change |
| TRV The Travelers Cos Inc. | 0.09% | 2,286 | $612K | No change |
| CB Chubb Ltd. | 0.09% | 2,025 | $587K | No change |
| IMO Imperial Oil Ltd. | 0.09% | 6,945 | $552K | No change |
| RIG Transocean Ltd. | 0.08% | 187,614 | $486K | Add +1.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.06% | 1,399 | $412K | No change |
| RTX RTX Corp. | 0.04% | 1,749 | $255K | No change |
| SJT San Juan Basin Royalty TR | 0.01% | 14,565 | $87K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| CVX Chevron Corp. | Reduce -0.1% | 5.12% | −0.98 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.2% | 7.25% | −0.95 |
| CCJ Cameco Corp. | Reduce -52.7% | 3.00% | −0.58 |
| SNY Sanofi-ADR | Reduce -1.1% | 1.93% | −0.35 |
| VZ Verizon Communications Inc. | Reduce -0.3% | 4.12% | −0.30 |
| INTC Intel Corp. | Reduce -1.0% | 1.82% | −0.08 |
| PSX Phillips 66 | Reduce -0.7% | 1.16% | −0.07 |
| GILD Gilead Sciences Inc. | Reduce -0.7% | 1.87% | −0.07 |
| L Loews Corp. | Reduce -1.5% | 1.81% | −0.07 |
| EMN Eastman Chemical Co. | Sold out | 0.00% | −0.03 |
| AGI Alamos Gold Inc. Class A | Reduce -2.5% | 0.21% | −0.01 |
| EAF Graftech International Ltd. | Reduce -2.0% | 0.25% | +0.02 |
| WMT Walmart Inc. | Reduce -0.1% | 0.25% | +0.02 |
| B Barrick Mining Corp. | Reduce -1.0% | 1.92% | +0.07 |
| TEN Tsakos Energy Navigation Ltd. | Reduce -0.8% | 1.04% | +0.09 |
| CSCO Cisco Systems Inc. | Reduce -1.0% | 1.49% | +0.13 |
| FCX Freeport-McMoran Inc. | Reduce -1.5% | 1.48% | +0.14 |
| FHI Federated Hermes Inc. | Reduce -0.8% | 2.73% | +0.15 |
| NTR Nutrien Ltd. | Reduce -0.3% | 1.54% | +0.20 |
| PBT Permian Basin Royalty Trust | Reduce -0.7% | 1.24% | +0.23 |
| AEM Agnico Eagle Mines Ltd. | Reduce -1.3% | 5.57% | +0.32 |
| NEM Newmont Corp. | Reduce -0.7% | 6.11% | +0.92 |
| DG Dollar General Corp. | Reduce -0.3% | 4.99% | +1.07 |
Portfolio Buys Q1 2025 → Q2 2025
| CMCSA Comcast Corp. Class A | New | 1.15% | +1.15 |
| MOS The Mosaic Co. | Add +1.1% | 3.61% | +0.92 |
| TECK Teck Resources Ltd.-CLS B | Add +0.1% | 5.93% | +0.48 |
| BEN Franklin Templeton Inc. | Add +1.0% | 2.14% | +0.40 |
| PKE Park Aerospace Corp. | Add +4.0% | 1.12% | +0.12 |
| TRC Tejon Ranch Co. | Add +0.5% | 1.27% | +0.07 |
| CNH CNH Industrial NV | Add +1.0% | 1.27% | +0.05 |
| ABEV Ambev SA-ADR | Add +0.2% | 2.54% | +0.04 |
| APA Apa Corp. | Add +24.6% | 0.62% | +0.04 |
| DVN Devon Energy Corp. | Add +19.7% | 0.58% | −0.00 |
| CVE Cenovus Energy Inc. | Add +3.6% | 0.98% | −0.01 |
| RIG Transocean Ltd. | Add +1.3% | 0.08% | −0.02 |
| OVV Ovintiv Inc. | Add +1.0% | 0.53% | −0.07 |
| HPQ HP Inc. | Add +1.1% | 1.41% | −0.20 |
| PFE Pfizer Inc. | Add +0.1% | 3.35% | −0.22 |
| KHC The Kraft Heinz Co. | Add +0.3% | 1.25% | −0.25 |
| MRK Merck & Co. Inc. | Add +1.3% | 2.31% | −0.33 |
| BMY Bristol-Myers Squibb Co. | Add +0.1% | 1.10% | −0.38 |
| COP Conocophillips | Add +0.0% | 3.92% | −0.76 |
| XOM Exxon Mobil Corp. | Add +0.1% | 6.97% | −0.86 |
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 |