Foundation Resource Management Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 22, 2026), Foundation Resource Management Inc. reported 52 stock positions worth $747.5 million. Its top holding was Newmont (NEM) at 7.6% of the portfolio, followed by Exxon Mobil (XOM, 6.8%) and Berkshire Hathaway Class B (BRK.B, 6.5%). Compared with Q3 2025, it opened 1 new position, added to 23 and reduced 17. The biggest buy was Comcast Class A (CMCSA, shares +197%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- LITTLE ROCK, AR
- CIK
- 0001179232
- Portfolio Value
- $747.5M (Q4 2025)
- SEC Filing
- 0001179232-26-000002 ↗ filed Jan 22, 2026
Holdings Value
Holdings 52 stocks · $747.5M
| NEM Newmont Corp. | 7.64% | 571,762 | $57.1M | Reduce -0.2% |
| XOM Exxon Mobil Corp. | 6.80% | 422,399 | $50.8M | Add +0.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 6.49% | 96,478 | $48.5M | Reduce -0.1% |
| TECK Teck Resources Ltd.-CLS B | 5.90% | 920,951 | $44.1M | Reduce -3.3% |
| DG Dollar General Corp. | 5.06% | 284,930 | $37.8M | Add +0.5% |
| AEM Agnico Eagle Mines Ltd. | 4.80% | 211,587 | $35.9M | Reduce -0.2% |
| CVX Chevron Corp. | 4.76% | 233,456 | $35.6M | Add +0.2% |
| COP Conocophillips | 3.58% | 285,636 | $26.7M | Add +0.4% |
| B Barrick Mining Corp. | 3.48% | 596,907 | $26.0M | Reduce -0.2% |
| VZ Verizon Communications Inc. | 3.41% | 625,529 | $25.5M | Add +0.5% |
| PFE Pfizer Inc. | 3.00% | 900,546 | $22.4M | Reduce -0.3% |
| FHI Federated Hermes Inc. | 2.76% | 395,893 | $20.6M | Reduce -0.2% |
| MRK Merck & Co. Inc. | 2.72% | 193,095 | $20.3M | Add +1.2% |
| CMCSA Comcast Corp. Class A | 2.50% | 625,932 | $18.7M | Add +197.0% |
| INTC Intel Corp. | 2.48% | 502,602 | $18.5M | Reduce -5.6% |
| LKQ LKQ Corp. | 2.35% | 582,709 | $17.6M | Add +0.4% |
| ABEV Ambev SA-ADR | 2.29% | 6,939,320 | $17.1M | Add +0.8% |
| MOS The Mosaic Co. | 2.10% | 651,468 | $15.7M | Add +1.3% |
| BEN Franklin Templeton Inc. | 1.89% | 589,781 | $14.1M | Add +0.8% |
| L Loews Corp. | 1.78% | 126,636 | $13.3M | Add +0.2% |
| GILD Gilead Sciences Inc. | 1.78% | 108,505 | $13.3M | Reduce -0.5% |
| SNY Sanofi-ADR | 1.69% | 260,634 | $12.6M | Add +1.0% |
| FCX Freeport-McMoran Inc. | 1.50% | 221,213 | $11.2M | Reduce -0.3% |
| PBT Permian Basin Royalty Trust | 1.46% | 642,507 | $10.9M | No change |
| PKE Park Aerospace Corp. | 1.44% | 503,497 | $10.7M | Add +0.6% |
| NTR Nutrien Ltd. | 1.43% | 172,752 | $10.7M | Add +1.2% |
| DEO Diageo PLC-Sponsored ADR | 1.22% | 105,827 | $9.1M | New |
| NVO Novo-Nordisk A/S-Spons ADR | 1.15% | 168,814 | $8.6M | Add +0.6% |
| BMY Bristol-Myers Squibb Co. | 1.12% | 155,840 | $8.4M | Add +1.2% |
| HPQ HP Inc. | 1.12% | 374,804 | $8.4M | Reduce -0.1% |
| CVE Cenovus Energy Inc. | 1.09% | 481,381 | $8.1M | Add +1.6% |
| PSX Phillips 66 | 1.08% | 62,800 | $8.1M | Reduce -0.1% |
| TEN Tsakos Energy Navigation Ltd. | 1.05% | 348,732 | $7.8M | Reduce -0.9% |
| TRC Tejon Ranch Co. | 1.04% | 494,801 | $7.8M | Add +2.0% |
| KHC The Kraft Heinz Co. | 1.01% | 311,909 | $7.6M | Reduce -0.2% |
| APA Apa Corp. | 0.80% | 244,242 | $6.0M | Add +6.4% |
| CNH CNH Industrial NV | 0.80% | 645,440 | $6.0M | Add +1.3% |
| CCJ Cameco Corp. | 0.70% | 57,001 | $5.2M | Reduce -0.1% |
| DVN Devon Energy Corp. | 0.63% | 127,827 | $4.7M | Add +5.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.50% | 5 | $3.8M | No change |
| OVV Ovintiv Inc. | 0.49% | 94,221 | $3.7M | Add +3.0% |
| WMT Walmart Inc. | 0.26% | 17,502 | $1.9M | No change |
| EAF Graftech International Ltd. | 0.24% | 115,058 | $1.8M | Reduce -33.4% |
| MPC Marathon Petroleum Corp. | 0.11% | 4,929 | $802K | No change |
| RIG Transocean Ltd. | 0.10% | 184,867 | $764K | Reduce -2.6% |
| TRV The Travelers Cos Inc. | 0.09% | 2,315 | $671K | No change |
| CB Chubb Ltd. | 0.09% | 2,129 | $665K | No change |
| IMO Imperial Oil Ltd. | 0.08% | 6,945 | $599K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.06% | 1,399 | $414K | No change |
| RTX RTX Corp. | 0.04% | 1,749 | $321K | No change |
| JNJ Johnson & Johnson | 0.03% | 1,106 | $229K | No change |
| SJT San Juan Basin Royalty TR | 0.01% | 14,565 | $82K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.1% | 6.49% | −0.49 |
| HPQ HP Inc. | Reduce -0.1% | 1.12% | −0.35 |
| AEM Agnico Eagle Mines Ltd. | Reduce -0.2% | 4.80% | −0.34 |
| PFE Pfizer Inc. | Reduce -0.3% | 3.00% | −0.31 |
| FHI Federated Hermes Inc. | Reduce -0.2% | 2.76% | −0.20 |
| KHC The Kraft Heinz Co. | Reduce -0.2% | 1.01% | −0.16 |
| PSX Phillips 66 | Reduce -0.1% | 1.08% | −0.14 |
| TECK Teck Resources Ltd.-CLS B | Reduce -3.3% | 5.90% | −0.10 |
| INTC Intel Corp. | Reduce -5.6% | 2.48% | −0.09 |
| EAF Graftech International Ltd. | Reduce -33.4% | 0.24% | −0.08 |
| TEN Tsakos Energy Navigation Ltd. | Reduce -0.9% | 1.05% | −0.08 |
| CCJ Cameco Corp. | Reduce -0.1% | 0.70% | +0.01 |
| RIG Transocean Ltd. | Reduce -2.6% | 0.10% | +0.02 |
| GILD Gilead Sciences Inc. | Reduce -0.5% | 1.78% | +0.04 |
| FCX Freeport-McMoran Inc. | Reduce -0.3% | 1.50% | +0.25 |
| B Barrick Mining Corp. | Reduce -0.2% | 3.48% | +0.66 |
| NEM Newmont Corp. | Reduce -0.2% | 7.64% | +0.70 |
Portfolio Buys Q3 2025 → Q4 2025
| CMCSA Comcast Corp. Class A | Add +197.0% | 2.50% | +1.55 |
| DEO Diageo PLC-Sponsored ADR | New | 1.22% | +1.22 |
| DG Dollar General Corp. | Add +0.5% | 5.06% | +0.85 |
| MRK Merck & Co. Inc. | Add +1.2% | 2.72% | +0.42 |
| BMY Bristol-Myers Squibb Co. | Add +1.2% | 1.12% | +0.13 |
| ABEV Ambev SA-ADR | Add +0.8% | 2.29% | +0.09 |
| DVN Devon Energy Corp. | Add +5.1% | 0.63% | +0.01 |
| APA Apa Corp. | Add +6.4% | 0.80% | −0.00 |
| XOM Exxon Mobil Corp. | Add +0.4% | 6.80% | −0.01 |
| NTR Nutrien Ltd. | Add +1.2% | 1.43% | −0.01 |
| PKE Park Aerospace Corp. | Add +0.6% | 1.44% | −0.03 |
| OVV Ovintiv Inc. | Add +3.0% | 0.49% | −0.04 |
| L Loews Corp. | Add +0.2% | 1.78% | −0.04 |
| BEN Franklin Templeton Inc. | Add +0.8% | 1.89% | −0.06 |
| SNY Sanofi-ADR | Add +1.0% | 1.69% | −0.06 |
| CVE Cenovus Energy Inc. | Add +1.6% | 1.09% | −0.07 |
| TRC Tejon Ranch Co. | Add +2.0% | 1.04% | −0.07 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +0.6% | 1.15% | −0.19 |
| LKQ LKQ Corp. | Add +0.4% | 2.35% | −0.19 |
| CNH CNH Industrial NV | Add +1.3% | 0.80% | −0.20 |
| COP Conocophillips | Add +0.4% | 3.58% | −0.29 |
| CVX Chevron Corp. | Add +0.2% | 4.76% | −0.44 |
| VZ Verizon Communications Inc. | Add +0.5% | 3.41% | −0.52 |
| MOS The Mosaic Co. | Add +1.3% | 2.10% | −1.10 |
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 |