GMO

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Jeremy Grantham's GMO reported 615 stock positions worth $31.7 billion. Its top holding was Microsoft (MSFT) at 5.7% of the portfolio, followed by Apple (AAPL, 4.7%) and Alphabet Class A (GOOGL, 3.8%). Compared with Q4 2024, it opened 112 new positions, sold out of 68, added to 294 and reduced 198. The biggest buy was a new position in Uber Technologies (UBER) and the biggest sale Meta Platforms Class A (META, shares −7%).

Most Recent 13F: Q2 2026
Notable People: Jeremy Grantham
Location: Boston, MA
CIK: 0001352662
Portfolio Value: $31.7B (Q1 2025)
SEC Filing: 0001072613-25-000369 ↗ filed May 14, 2025

Holdings Value

Holdings 615 stocks · $31.7B


MSFT Microsoft Corp.	5.66%	4,783,085	$1.8B	Add +22.1%
AAPL Apple Inc.	4.68%	6,685,574	$1.5B	Add +5.9%
GOOGL Alphabet Inc. Class A	3.82%	7,833,961	$1.2B	Add +6.1%
META Meta Platforms Inc. Class A	3.75%	2,065,452	$1.2B	Reduce -7.1%
UNH Unitedhealth Group Inc.	3.67%	2,224,346	$1.2B	Add +7.4%
JNJ Johnson & Johnson	3.56%	6,812,787	$1.1B	Add +7.1%
ABT Abbott Laboratories	3.39%	8,107,583	$1.1B	Add +2.7%
V Visa Inc. Class A	3.29%	2,974,829	$1.0B	Add +0.6%
ELV Elevance Health Inc.	2.96%	2,158,991	$939.1M	Add +7.9%
ORCL Oracle Corp.	2.67%	6,064,857	$847.9M	Add +3.1%
TXN Texas Instruments Inc.	2.58%	4,550,245	$817.7M	Add +6.1%
ACN Accenture PLC Class A	2.40%	2,439,748	$761.3M	Add +9.3%
TMO Thermo Fisher Scientific Inc.	2.28%	1,456,080	$724.5M	Add +33.1%
CRM Salesforce Inc.	2.26%	2,666,810	$715.7M	Add +20.0%
USB US Bancorp	2.13%	15,983,454	$674.8M	Add +23.6%
AMZN Amazon.com Inc.	2.06%	3,435,972	$653.7M	Add +6.8%
LRCX Lam Research Corp.	1.97%	8,593,334	$624.7M	Add +6.1%
WFC Wells Fargo & Co.	1.90%	8,381,408	$601.7M	Reduce -4.0%
MRK Merck & Co. Inc.	1.89%	6,686,596	$600.2M	Add +8.5%
OTIS Otis Worldwide Corp.	1.78%	5,460,836	$563.6M	Add +5.8%
KO The Coca-Cola Co.	1.73%	7,656,489	$548.4M	Reduce -19.1%
ISRG Intuitive Surgical Inc.	1.68%	1,073,740	$531.8M	Add +1.0%
CI The Cigna Group	1.65%	1,588,863	$522.7M	Add +7.5%
STZ Constellation Brands Inc. Class A	1.52%	2,632,951	$483.2M	Add +7.3%
TJX TJX Companies Inc. filed as TJX COS INC NEW	1.45%	3,778,404	$460.2M	Add +0.1%
HLT Hilton Worldwide Holdings Inc.	1.41%	1,961,432	$446.3M	Reduce -1.1%
LLY Eli Lilly & Co.	1.26%	483,800	$399.6M	Add +11.2%
KLAC KLA Corp.	1.19%	553,642	$376.4M	Add +1.1%
DGX Quest Diagnostics Inc.	1.07%	2,006,545	$339.5M	Reduce -11.6%
UBER Uber Technologies Inc.	1.03%	4,504,427	$328.2M	New
AVGO Broadcom Inc.	0.92%	1,739,562	$291.3M	Add +666.1%
PR Permian Resources Corp. Class A	0.46%	10,634,826	$147.3M	Add +0.0%
DB Deutsche Bank AG-Registered	0.42%	5,712,019	$134.6M	Add +5.8%
VOD Vodafone Group PLC-SP ADR	0.41%	13,905,755	$130.3M	Reduce -4.7%
MFC Manulife Financial Corp.	0.36%	3,712,522	$115.7M	Reduce -3.6%
DAR Darling Ingredients Inc.	0.36%	3,657,826	$114.3M	Reduce -14.4%
BTI British American Tob-SP ADR	0.32%	2,446,034	$101.2M	Add +78.6%
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE	0.30%	2,428,090	$96.5M	Reduce -26.5%
KOS Kosmos Energy Ltd.	0.29%	39,887,828	$90.9M	Add +22.3%
ARMK Aramark	0.26%	2,412,799	$83.3M	Add +71.6%
GSK GSK PLC-Spon ADR	0.26%	2,140,671	$82.9M	Reduce -48.5%
VZ Verizon Communications Inc.	0.26%	1,805,971	$81.9M	Add +5.7%
GE General Electric filed as GE AEROSPACE	0.25%	397,408	$79.5M	Reduce -13.1%
SEDG Solaredge Technologies Inc.	0.23%	4,576,842	$74.1M	Reduce -7.6%
PFE Pfizer Inc.	0.23%	2,880,126	$73.0M	Add +7.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.22%	1,635,702	$68.3M	Add +6.8%
RUN Sunrun Inc.	0.21%	11,530,856	$67.6M	Add +8.6%
CMCSA Comcast Corp. Class A	0.21%	1,795,820	$66.3M	Add +16.2%
CVS CVS Health Corp.	0.20%	941,367	$63.8M	Add +21.3%
C Citigroup Inc.	0.20%	875,887	$62.2M	Reduce -3.5%
PG The Procter & Gamble Co.	0.19%	361,181	$61.6M	Add +12.2%
CSCO Cisco Systems Inc.	0.19%	988,222	$61.0M	Add +10.9%
JPM JPMorgan Chase & Co.	0.19%	239,659	$58.8M	Add +14.0%
YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA	0.18%	1,641,878	$57.5M	Reduce -10.9%
EBAY eBay Inc.	0.18%	840,673	$56.9M	Add +0.8%
ALB Albemarle Corp.	0.18%	788,606	$56.8M	Add +28.6%
XOM Exxon Mobil Corp.	0.17%	465,370	$55.3M	Add +7.7%
VIST Vista Energy Sab DE CV	0.17%	1,179,408	$54.9M	Reduce -4.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.17%	219,658	$54.6M	Reduce -33.6%
OLLI Ollie's Bargain Outlet Holdi	0.17%	466,114	$54.2M	Add +59.4%
STLA Stellantis NV	0.17%	4,886,543	$54.2M	Add +7.9%
CRC California Resources Corp.	0.17%	1,215,594	$53.4M	Add +37.7%
REGN Regeneron Pharmaceuticals	0.17%	83,330	$52.9M	Add +32.3%
NYT New York Times Co. Class A	0.16%	1,026,386	$50.9M	Add +13.0%
ATR Aptargroup Inc.	0.16%	342,817	$50.9M	Add +25.3%
GM General Motors Co.	0.16%	1,051,444	$49.4M	Add +3.9%
ARRY Array Technologies Inc.	0.16%	10,125,327	$49.3M	Reduce -9.3%
BCPC Balchem Corp.	0.16%	296,303	$49.2M	Add +45.1%
HES Hess Corp.	0.15%	305,026	$48.7M	Reduce -25.2%
MZTI The Marzetti Company filed as LANCASTER COLONY CORP	0.15%	274,995	$48.1M	Add +18.6%
CTSH Cognizant Tech Solutions-A	0.15%	624,203	$47.8M	Reduce -1.6%
CNC Centene Corp.	0.15%	783,671	$47.6M	Add +16.8%
WBA Walgreens Boots Alliance Inc.	0.15%	4,219,316	$47.1M	Add +41.9%
STM Stmicroelectronics NV-NY SHS	0.15%	2,141,826	$47.0M	Add +19.9%
WWD Woodward Inc.	0.15%	257,196	$46.9M	Add +50.8%
AMRC Ameresco Inc. Class A	0.15%	3,846,931	$46.5M	Reduce -4.6%
RIO Rio Tinto PLC-Spon ADR	0.15%	772,076	$46.4M	Add +99.3%
PYPL PayPal Holdings Inc.	0.15%	708,072	$46.2M	Add +22.3%
CVX Chevron Corp.	0.15%	275,920	$46.2M	Reduce -19.8%
CW Curtiss-Wright Corp.	0.14%	144,735	$45.9M	Add +445.2%
FCX Freeport-McMoran Inc.	0.14%	1,199,168	$45.4M	Reduce -19.3%
RBC RBC Bearings Inc.	0.14%	140,875	$45.3M	Add +9.6%
FSLR First Solar Inc.	0.14%	358,507	$45.3M	Add +34.0%
INTC Intel Corp.	0.14%	1,990,387	$45.2M	Reduce -15.5%
COF Capital One Financial Corp.	0.14%	251,271	$45.1M	Reduce -11.1%
MDLZ Mondelez International Inc. Class A	0.14%	662,381	$44.9M	Add +50.5%
QCOM Qualcomm Inc.	0.14%	292,348	$44.9M	Add +63.7%
TD Toronto-Dominion Bank	0.14%	739,032	$44.3M	Add +24.9%
OTEX Open Text Corp.	0.14%	1,740,076	$43.9M	Add +34.1%
NVS Novartis AG-Sponsored ADR	0.14%	392,151	$43.7M	Reduce -32.1%
NXT Nextpower Inc. filed as NEXTRACKER INC	0.14%	1,036,814	$43.7M	Reduce -2.8%
CMI Cummins Inc.	0.14%	138,411	$43.4M	Add +41.4%
SYF Synchrony Financial	0.14%	818,293	$43.3M	Add +16.2%
GMED Globus Medical Inc. Class A	0.14%	589,277	$43.1M	Add +17.7%
F Ford Motor Co. filed as FORD MTR CO	0.14%	4,288,467	$43.0M	Reduce -2.5%
HPQ HP Inc.	0.14%	1,549,840	$42.9M	Add +13.7%
STEP Stepstone Group Inc. Class A	0.13%	806,596	$42.1M	Add +14.8%
HMC Honda Motor Co. Ltd.-Spons ADR	0.13%	1,535,954	$41.7M	Reduce -0.8%
CRUS Cirrus Logic Inc.	0.13%	414,649	$41.3M	Add +0.8%
ZM Zoom Communications Inc.	0.13%	559,775	$41.3M	Add +0.2%

Show all 615 holdings

Portfolio Sells Q4 2024 → Q1 2025


META Meta Platforms Inc. Class A	Reduce -7.1%	3.75%	−0.48
IVV iShares Core S&P 500 ETF	Sold out	0.00%	−0.42
GSK GSK PLC-Spon ADR	Reduce -48.5%	0.26%	−0.20
HLT Hilton Worldwide Holdings Inc.	Reduce -1.1%	1.41%	−0.19
KO The Coca-Cola Co.	Reduce -19.1%	1.73%	−0.19
AMRC Ameresco Inc. Class A	Reduce -4.6%	0.15%	−0.16
ACI Albertsons Cos Inc. Class A	Sold out	0.00%	−0.14
EFOR Everforth Inc.	Sold out	0.00%	−0.12
GNTX Gentex Corp.	Reduce -98.2%	0.00%	−0.11
DAR Darling Ingredients Inc.	Reduce -14.4%	0.36%	−0.11
CIEN Ciena Corp.	Reduce -53.5%	0.05%	−0.10
CLS Celestica Inc.	Reduce -90.0%	0.01%	−0.10
ESNT Essent Group Ltd.	Sold out	0.00%	−0.10
WFC Wells Fargo & Co.	Reduce -4.0%	1.90%	−0.10
ANSS Ansys Inc.	Sold out	0.00%	−0.09
MMM 3M Co.	Reduce -91.0%	0.01%	−0.09
LSTR Landstar System Inc.	Reduce -59.2%	0.05%	−0.09
SQM Quimica Y Minera Chil-SP ADR	Reduce -26.5%	0.30%	−0.09
GPRE Green Plains Inc.	Reduce -5.0%	0.08%	−0.09
BRK.B Berkshire Hathaway Inc. Class B	Reduce -95.7%	0.00%	−0.09
ARCH Arch Resources Inc.	Sold out	0.00%	−0.08
ACLS Axcelis Technologies Inc.	Reduce -24.2%	0.09%	−0.08
ARCB Arcbest Corp.	Sold out	0.00%	−0.08
HCP Hashicorp Inc. Class A	Sold out	0.00%	−0.07
YPF YPF S.A.-Sponsored ADR	Reduce -10.9%	0.18%	−0.07
SILV Silvercrest Metals Inc.	Sold out	0.00%	−0.07
EAF Graftech International Ltd.	Reduce -37.2%	0.03%	−0.07
CLNE Clean Energy Fuels Corp.	Reduce -19.3%	0.06%	−0.07
JNPR Juniper Networks Inc.	Sold out	0.00%	−0.07
IBM Intl Business Machines Corp.	Reduce -33.6%	0.17%	−0.06
ARRY Array Technologies Inc.	Reduce -9.3%	0.16%	−0.06
CTVA Corteva Inc.	Reduce -41.6%	0.10%	−0.06
K Kellanova	Reduce -58.4%	0.04%	−0.06
BKNG Booking Holdings Inc.	Reduce -88.5%	0.01%	−0.06
PARAA Paramount Global Class B	Sold out	0.00%	−0.06
TECK Teck Resources Ltd.-CLS B	Sold out	0.00%	−0.06
ICE Intercontinental Exchange Inc.	Reduce -85.2%	0.01%	−0.05
BBWI Bath & Body Works Inc.	Sold out	0.00%	−0.05
BN Brookfield Corp.	Reduce -62.8%	0.03%	−0.05
NEOG Neogen Corp.	Reduce -34.8%	0.04%	−0.05
X United States Steel Corp.	Reduce -59.4%	0.05%	−0.05
BIO Bio-Rad Laboratories-A	Sold out	0.00%	−0.05
NVS Novartis AG-Sponsored ADR	Reduce -32.1%	0.14%	−0.05
PCH Potlatchdeltic Corp.	Sold out	0.00%	−0.04
VIST Vista Energy Sab DE CV	Reduce -4.4%	0.17%	−0.04
APTV Aptiv PLC	Reduce -68.4%	0.02%	−0.04
DGX Quest Diagnostics Inc.	Reduce -11.6%	1.07%	−0.04
MKL Markel Group Inc.	Reduce -86.7%	0.01%	−0.04
RYAAY Ryanair Holdings PLC-SP ADR	Reduce -90.1%	0.00%	−0.04
FCX Freeport-McMoran Inc.	Reduce -19.3%	0.14%	−0.04

Portfolio Buys Q4 2024 → Q1 2025


UBER Uber Technologies Inc.	New	1.03%	+1.03
AVGO Broadcom Inc.	Add +666.1%	0.92%	+0.75
JNJ Johnson & Johnson	Add +7.1%	3.56%	+0.57
ELV Elevance Health Inc.	Add +7.9%	2.96%	+0.56
ABT Abbott Laboratories	Add +2.7%	3.39%	+0.49
TMO Thermo Fisher Scientific Inc.	Add +33.1%	2.28%	+0.43
CI The Cigna Group	Add +7.5%	1.65%	+0.32
MSFT Microsoft Corp.	Add +22.1%	5.66%	+0.29
UNH Unitedhealth Group Inc.	Add +7.4%	3.67%	+0.27
V Visa Inc. Class A	Add +0.6%	3.29%	+0.25
OTIS Otis Worldwide Corp.	Add +5.8%	1.78%	+0.22
LLY Eli Lilly & Co.	Add +11.2%	1.26%	+0.17
BTI British American Tob-SP ADR	Add +78.6%	0.32%	+0.16
SAIA Saia Inc.	New	0.13%	+0.13
DB Deutsche Bank AG-Registered	Add +5.8%	0.42%	+0.12
USB US Bancorp	Add +23.6%	2.13%	+0.11
CW Curtiss-Wright Corp.	Add +445.2%	0.14%	+0.11
ONTO Onto Innovation Inc.	New	0.11%	+0.11
TREX Trex Company Inc.	New	0.10%	+0.10
ARMK Aramark	Add +71.6%	0.26%	+0.09
CVS CVS Health Corp.	Add +21.3%	0.20%	+0.09
CHX Championx Corp.	New	0.08%	+0.08
VRN Veren Inc.	New	0.08%	+0.08
DLB Dolby Laboratories Inc. Class A	Add +179.5%	0.12%	+0.08
RIO Rio Tinto PLC-Spon ADR	Add +99.3%	0.15%	+0.07
ITCI Intra-Cellular Therapies Inc.	New	0.07%	+0.07
PDCO Patterson Cos Inc.	New	0.07%	+0.07
LRCX Lam Research Corp.	Add +6.1%	1.97%	+0.07
OLLI Ollie's Bargain Outlet Holdi	Add +59.4%	0.17%	+0.07
DG Dollar General Corp.	Add +132.3%	0.11%	+0.07
PYCR Paycor HCM Inc.	New	0.06%	+0.06
KLAC KLA Corp.	Add +1.1%	1.19%	+0.06
CIVI Civitas Resources Inc.	New	0.06%	+0.06
WBA Walgreens Boots Alliance Inc.	Add +41.9%	0.15%	+0.06
UPS United Parcel Service Class B	Add +117.0%	0.12%	+0.06
MDLZ Mondelez International Inc. Class A	Add +50.5%	0.14%	+0.06
WWD Woodward Inc.	Add +50.8%	0.15%	+0.06
QCOM Qualcomm Inc.	Add +63.7%	0.14%	+0.05
BRKR Bruker Corp.	New	0.05%	+0.05
BABA Alibaba Group Holding-SP ADR	Add +8.0%	0.13%	+0.05
FN Fabrinet	Add +199.5%	0.08%	+0.05
AMED Amedisys Inc.	New	0.05%	+0.05
BCPC Balchem Corp.	Add +45.1%	0.16%	+0.05
OMC Omnicom Group	Add +114.3%	0.09%	+0.04
OLED Universal Display Corp.	Add +62.1%	0.12%	+0.04
JWN Nordstrom Inc.	New	0.04%	+0.04
LYB Lyondellbasell Indu Class A	Add +88.1%	0.09%	+0.04
BNS Bank of Nova Scotia	Add +71.0%	0.12%	+0.04
STT State Street Corp.	Add +97.6%	0.09%	+0.04
TD Toronto-Dominion Bank	Add +24.9%	0.14%	+0.04

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	661	$44.4B	MSFT, LRCX, GOOGL, AAPL, META
Q1 2026	628	$39.1B	MSFT, GOOGL, JNJ, AAPL, META
Q4 2025	653	$39.1B	MSFT, GOOGL, META, AAPL, LRCX
Q3 2025	597	$35.4B	MSFT, GOOGL, META, AAPL, LRCX
Q2 2025	604	$33.1B	MSFT, META, GOOGL, ORCL, AAPL
Q1 2025	615	$31.7B	MSFT, AAPL, GOOGL, META, UNH
Q4 2024	570	$30.7B	MSFT, AAPL, GOOGL, META, UNH
Q3 2024	559	$31.9B	MSFT, AAPL, META, GOOGL, ORCL
Q2 2024	525	$29.6B	MSFT, AAPL, GOOGL, META, UNH
Q1 2024	513	$27.5B	MSFT, GOOGL, META, UNH, AAPL