GMO
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Jeremy Grantham's GMO reported 597 stock positions worth $35.4 billion. Its top holding was Microsoft (MSFT) at 7.2% of the portfolio, followed by Alphabet Class A (GOOGL, 4.8%) and Meta Platforms Class A (META, 4.7%). Compared with Q2 2025, it opened 56 new positions, sold out of 63, added to 234 and reduced 272. The biggest buy was Lam Research (LRCX, shares +2%) and the biggest sale Wells Fargo (WFC, shares −26%).
- Most Recent 13F
- Q2 2026
- Notable People
- Jeremy Grantham
- Location
- Boston, MA
- CIK
- 0001352662
- Portfolio Value
- $35.4B (Q3 2025)
- SEC Filing
- 0001072613-25-000786 ↗ filed Nov 13, 2025
Holdings Value
Holdings 597 stocks · $35.4B
| MSFT Microsoft Corp. | 7.25% | 4,959,599 | $2.6B | Add +2.0% |
| GOOGL Alphabet Inc. Class A | 4.81% | 7,014,129 | $1.7B | Reduce -10.7% |
| META Meta Platforms Inc. Class A | 4.71% | 2,272,907 | $1.7B | Add +2.1% |
| AAPL Apple Inc. | 4.40% | 6,122,841 | $1.6B | Add +2.5% |
| LRCX Lam Research Corp. | 3.72% | 9,834,011 | $1.3B | Add +1.6% |
| JNJ Johnson & Johnson | 3.57% | 6,815,195 | $1.3B | Add +4.0% |
| ORCL Oracle Corp. | 3.32% | 4,185,731 | $1.2B | Reduce -26.7% |
| ABT Abbott Laboratories | 3.09% | 8,176,484 | $1.1B | Add +4.6% |
| TMO Thermo Fisher Scientific Inc. | 2.93% | 2,141,863 | $1.0B | Add +15.7% |
| AVGO Broadcom Inc. | 2.62% | 2,810,749 | $927.3M | Reduce -8.2% |
| UNH Unitedhealth Group Inc. | 2.60% | 2,666,623 | $920.8M | Add +24.5% |
| CRM Salesforce Inc. | 2.55% | 3,810,635 | $903.1M | Add +28.9% |
| USB US Bancorp | 2.42% | 17,758,947 | $858.3M | Add +7.2% |
| TXN Texas Instruments Inc. | 2.41% | 4,654,133 | $855.1M | Add +0.8% |
| V Visa Inc. Class A | 2.35% | 2,439,988 | $833.0M | Add +0.6% |
| ACN Accenture PLC Class A | 2.33% | 3,353,854 | $827.1M | Add +26.6% |
| ELV Elevance Health Inc. | 2.30% | 2,523,450 | $815.4M | Add +23.7% |
| AMZN Amazon.com Inc. | 2.22% | 3,586,913 | $787.6M | Reduce -0.5% |
| MRK Merck & Co. Inc. | 1.57% | 6,625,350 | $556.1M | Add +2.4% |
| LLY Eli Lilly & Co. | 1.51% | 700,608 | $534.6M | Add +47.8% |
| UBER Uber Technologies Inc. | 1.51% | 5,452,913 | $534.2M | Add +0.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.49% | 3,652,215 | $527.9M | Add +0.1% |
| WFC Wells Fargo & Co. | 1.49% | 6,287,235 | $527.0M | Reduce -25.8% |
| HLT Hilton Worldwide Holdings Inc. | 1.48% | 2,016,751 | $523.2M | Add +1.0% |
| ISRG Intuitive Surgical Inc. | 1.44% | 1,139,659 | $509.7M | Add +4.6% |
| STZ Constellation Brands Inc. Class A | 1.41% | 3,710,940 | $499.8M | Add +0.9% |
| KLAC KLA Corp. | 1.33% | 438,601 | $473.1M | Reduce -22.4% |
| CI The Cigna Group | 1.33% | 1,634,348 | $471.1M | Add +5.8% |
| KO The Coca-Cola Co. | 1.31% | 6,986,388 | $463.3M | Reduce -0.6% |
| DGX Quest Diagnostics Inc. | 0.94% | 1,746,400 | $332.8M | Reduce -0.1% |
| TW Tradeweb Markets Inc. Class A | 0.62% | 1,969,036 | $218.5M | Add +32.7% |
| PR Permian Resources Corp. Class A | 0.48% | 13,263,570 | $169.8M | Add +24.7% |
| DB Deutsche Bank AG-Registered | 0.42% | 4,216,162 | $148.4M | Reduce -14.7% |
| VOD Vodafone Group PLC-SP ADR | 0.35% | 10,583,678 | $122.8M | Reduce -11.0% |
| TD Toronto-Dominion Bank | 0.35% | 1,533,571 | $122.6M | Add +96.4% |
| DAR Darling Ingredients Inc. | 0.32% | 3,633,119 | $112.2M | Reduce -1.6% |
| GSK GSK PLC-Spon ADR | 0.31% | 2,572,126 | $111.0M | Reduce -1.1% |
| ARMK Aramark | 0.31% | 2,888,688 | $110.9M | Add +8.5% |
| RUN Sunrun Inc. | 0.30% | 6,226,026 | $107.6M | Reduce -41.4% |
| AMRC Ameresco Inc. Class A | 0.30% | 3,203,393 | $107.6M | Reduce -16.7% |
| SEDG Solaredge Technologies Inc. | 0.28% | 2,696,869 | $99.8M | Reduce -32.7% |
| GE General Electric filed as GE AEROSPACE | 0.26% | 303,774 | $91.4M | Reduce -18.6% |
| BTI British American Tob-SP ADR | 0.25% | 1,683,925 | $89.4M | Reduce -32.2% |
| PG The Procter & Gamble Co. | 0.24% | 548,025 | $84.2M | Add +33.6% |
| SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE | 0.24% | 1,946,264 | $83.7M | Reduce -2.7% |
| NXE Nexgen Energy Ltd. | 0.22% | 8,810,054 | $78.9M | Reduce -4.4% |
| RIO Rio Tinto PLC-Spon ADR | 0.21% | 1,126,445 | $74.4M | Add +21.6% |
| ARRY Array Technologies Inc. | 0.20% | 8,873,072 | $72.3M | Reduce -5.6% |
| MFC Manulife Financial Corp. | 0.20% | 2,266,701 | $70.6M | Reduce -24.5% |
| VZ Verizon Communications Inc. | 0.18% | 1,437,874 | $63.2M | Reduce -8.3% |
| ALLE Allegion PLC | 0.17% | 349,097 | $61.9M | Reduce -0.2% |
| PFE Pfizer Inc. | 0.17% | 2,421,262 | $61.7M | Reduce -5.2% |
| NVDA Nvidia Corp. | 0.17% | 328,468 | $61.3M | Add +72.7% |
| NYT New York Times Co. Class A | 0.17% | 1,059,031 | $60.8M | Reduce -7.0% |
| FSLR First Solar Inc. | 0.17% | 274,898 | $60.6M | Reduce -30.3% |
| COP Conocophillips | 0.17% | 639,555 | $60.5M | Add +60.8% |
| CRC California Resources Corp. | 0.17% | 1,115,379 | $59.3M | Reduce -13.5% |
| ALB Albemarle Corp. | 0.17% | 731,489 | $59.3M | Reduce -12.5% |
| PSMT Pricesmart Inc. | 0.17% | 489,201 | $59.3M | Add +24.9% |
| AAON Aaon Inc. | 0.17% | 629,679 | $58.8M | Add +0.9% |
| QCOM Qualcomm Inc. | 0.16% | 349,680 | $58.2M | Add +44.9% |
| KOS Kosmos Energy Ltd. | 0.16% | 34,780,967 | $57.7M | Reduce -5.5% |
| CVS CVS Health Corp. | 0.16% | 760,952 | $57.4M | Reduce -10.7% |
| WWD Woodward Inc. | 0.15% | 217,107 | $54.9M | Add +0.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.15% | 1,048,500 | $54.1M | Reduce -11.1% |
| C Citigroup Inc. | 0.15% | 529,886 | $53.8M | Reduce -22.7% |
| BCPC Balchem Corp. | 0.15% | 355,823 | $53.4M | Add +0.9% |
| ATR Aptargroup Inc. | 0.15% | 390,962 | $52.3M | Add +0.9% |
| OTEX Open Text Corp. | 0.15% | 1,376,901 | $51.5M | Add +2.5% |
| MDLZ Mondelez International Inc. Class A | 0.14% | 818,644 | $51.1M | Add +18.0% |
| MZTI The Marzetti Company | 0.14% | 291,822 | $50.4M | Add +0.9% |
| DLB Dolby Laboratories Inc. Class A | 0.14% | 674,036 | $48.8M | Add +0.9% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.14% | 752,514 | $48.7M | Reduce -6.1% |
| CMCSA Comcast Corp. Class A | 0.14% | 1,525,252 | $47.9M | Reduce -3.6% |
| OLLI Ollie's Bargain Outlet Holdi | 0.13% | 367,460 | $47.2M | Add +76.0% |
| CRUS Cirrus Logic Inc. | 0.13% | 376,008 | $47.1M | Add +1.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.13% | 167,228 | $46.7M | Reduce -1.3% |
| FCN Fti Consulting Inc. | 0.13% | 288,875 | $46.7M | Add +0.9% |
| XOM Exxon Mobil Corp. | 0.13% | 410,046 | $46.2M | Add +9.0% |
| GM General Motors Co. | 0.13% | 747,260 | $45.6M | Reduce -18.2% |
| FOX Fox Corp. Class B | 0.13% | 785,016 | $45.0M | Add +83.9% |
| EBAY eBay Inc. | 0.12% | 483,379 | $44.0M | Reduce -16.6% |
| CMI Cummins Inc. | 0.12% | 103,898 | $43.9M | Reduce -18.2% |
| BMY Bristol-Myers Squibb Co. | 0.12% | 967,975 | $43.7M | Add +11.2% |
| INTC Intel Corp. | 0.12% | 1,301,073 | $43.7M | Reduce -9.0% |
| STLA Stellantis NV | 0.12% | 4,710,721 | $43.5M | Add +3.1% |
| JPM JPMorgan Chase & Co. | 0.12% | 137,687 | $43.4M | Reduce -30.8% |
| ACLS Axcelis Technologies Inc. | 0.12% | 443,863 | $43.3M | Add +0.4% |
| RBC RBC Bearings Inc. | 0.12% | 109,516 | $42.7M | Add +0.9% |
| NVS Novartis AG-Sponsored ADR | 0.12% | 331,032 | $42.5M | Reduce -6.1% |
| GMED Globus Medical Inc. Class A | 0.12% | 728,438 | $41.7M | Add +0.9% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.12% | 277,632 | $41.3M | Add +47.8% |
| LBRDK Liberty Broadband-C | 0.11% | 633,246 | $40.2M | Add +65.0% |
| COF Capital One Financial Corp. | 0.11% | 188,952 | $40.2M | Reduce -10.5% |
| ENTG Entegris Inc. | 0.11% | 430,942 | $39.8M | Add +151.0% |
| STEP Stepstone Group Inc. Class A | 0.11% | 598,398 | $39.1M | Add +0.9% |
| MGA Magna International Inc. | 0.11% | 824,325 | $39.1M | Add +3.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.11% | 137,185 | $38.7M | Add +9.4% |
| TXNM TXNM Energy Inc. | 0.11% | 676,094 | $38.2M | Add +40.2% |
| GPRE Green Plains Inc. | 0.11% | 4,326,191 | $38.0M | Reduce -2.8% |
Options reported separately and not counted above: SUN puts ($19.8M), OMC puts ($1.2M), RKT puts ($258K).
Portfolio Sells Q2 2025 → Q3 2025
| WFC Wells Fargo & Co. | Reduce -25.8% | 1.49% | −0.57 |
| ORCL Oracle Corp. | Reduce -26.7% | 3.32% | −0.45 |
| KO The Coca-Cola Co. | Reduce -0.6% | 1.31% | −0.20 |
| KLAC KLA Corp. | Reduce -22.4% | 1.33% | −0.20 |
| AMZN Amazon.com Inc. | Reduce -0.5% | 2.22% | −0.17 |
| AZEK The Azek Co. Inc. | Sold out | 0.00% | −0.12 |
| DAR Darling Ingredients Inc. | Reduce -1.6% | 0.32% | −0.11 |
| BTI British American Tob-SP ADR | Reduce -32.2% | 0.25% | −0.10 |
| CW Curtiss-Wright Corp. | Sold out | 0.00% | −0.10 |
| HES Hess Corp. | Sold out | 0.00% | −0.09 |
| MFC Manulife Financial Corp. | Reduce -24.5% | 0.20% | −0.09 |
| WBA Walgreens Boots Alliance Inc. | Sold out | 0.00% | −0.09 |
| POWI Power Integrations Inc. | Sold out | 0.00% | −0.08 |
| STM Stmicroelectronics NV-NY SHS | Reduce -45.9% | 0.07% | −0.08 |
| JJSF J & J Snack Foods Corp. | Sold out | 0.00% | −0.08 |
| COOP Mr Cooper Group Inc. | Reduce -89.9% | 0.01% | −0.07 |
| PPBI Pacific Premier Bancorp Inc. | Sold out | 0.00% | −0.07 |
| ENPH Enphase Energy Inc. | Sold out | 0.00% | −0.06 |
| CSCO Cisco Systems Inc. | Reduce -32.5% | 0.10% | −0.06 |
| MAG Mag Silver Corp. | Sold out | 0.00% | −0.06 |
| VIST Vista Energy Sab DE CV | Reduce -6.8% | 0.10% | −0.06 |
| VICI Vici Properties Inc. | Reduce -64.9% | 0.03% | −0.05 |
| OMC Omnicom Group | Reduce -67.0% | 0.03% | −0.05 |
| JPM JPMorgan Chase & Co. | Reduce -30.8% | 0.12% | −0.05 |
| BABA Alibaba Group Holding-SP ADR | Reduce -64.0% | 0.05% | −0.05 |
| ESGR Enstar Group Ltd. | Sold out | 0.00% | −0.05 |
| YPF YPF S.A.-Sponsored ADR | Reduce -6.4% | 0.09% | −0.05 |
| BEN Franklin Templeton Inc. | Reduce -86.0% | 0.01% | −0.05 |
| FARO Faro Technologies Inc. | Sold out | 0.00% | −0.04 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −0.04 |
| DNB Dun & Bradstreet Holdings Inc. | Sold out | 0.00% | −0.04 |
| BWA Borgwarner Inc. | Reduce -49.4% | 0.07% | −0.04 |
| JD Jd.com Inc.-ADR | Reduce -98.0% | 0.00% | −0.04 |
| VOD Vodafone Group PLC-SP ADR | Reduce -11.0% | 0.35% | −0.04 |
| CMCSA Comcast Corp. Class A | Reduce -3.6% | 0.14% | −0.04 |
| HLI Houlihan Lokey Inc. | Reduce -29.9% | 0.10% | −0.03 |
| GE General Electric | Reduce -18.6% | 0.26% | −0.03 |
| KOF Coca-Cola Femsa Sab-SP ADR | Sold out | 0.00% | −0.03 |
| EXC Exelon Corp. | Reduce -46.6% | 0.03% | −0.03 |
| KOS Kosmos Energy Ltd. | Reduce -5.5% | 0.16% | −0.03 |
| GS Goldman Sachs Group Inc. | Reduce -35.7% | 0.06% | −0.03 |
| VZ Verizon Communications Inc. | Reduce -8.3% | 0.18% | −0.03 |
| FSLR First Solar Inc. | Reduce -30.3% | 0.17% | −0.03 |
| WSC Willscot Holdings Corp. | Reduce -31.1% | 0.03% | −0.03 |
| DG Dollar General Corp. | Reduce -69.9% | 0.01% | −0.03 |
| UL Unilever PLC | Reduce -27.0% | 0.05% | −0.03 |
| CTSH Cognizant Tech Solutions-A | Reduce -1.7% | 0.09% | −0.03 |
| C Citigroup Inc. | Reduce -22.7% | 0.15% | −0.02 |
| FYBR Frontier Communications Pare | Reduce -25.0% | 0.06% | −0.02 |
| DB Deutsche Bank AG-Registered | Reduce -14.7% | 0.42% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| LRCX Lam Research Corp. | Add +1.6% | 3.72% | +0.87 |
| AAPL Apple Inc. | Add +2.5% | 4.40% | +0.69 |
| TMO Thermo Fisher Scientific Inc. | Add +15.7% | 2.93% | +0.66 |
| UNH Unitedhealth Group Inc. | Add +24.5% | 2.60% | +0.58 |
| JNJ Johnson & Johnson | Add +4.0% | 3.57% | +0.54 |
| LLY Eli Lilly & Co. | Add +47.8% | 1.51% | +0.39 |
| TD Toronto-Dominion Bank | Add +96.4% | 0.35% | +0.17 |
| USB US Bancorp | Add +7.2% | 2.42% | +0.15 |
| TJX TJX Companies Inc. | Add +0.1% | 1.49% | +0.13 |
| CRM Salesforce Inc. | Add +28.9% | 2.55% | +0.11 |
| NVDA Nvidia Corp. | Add +72.7% | 0.17% | +0.08 |
| CLH Clean Harbors Inc. | New | 0.08% | +0.08 |
| VRNA Verona Pharma Ltd. | New | 0.08% | +0.08 |
| SAND Sandstorm Gold Ltd. | New | 0.08% | +0.08 |
| CYBR Cyberark Software Ltd./Israel | New | 0.07% | +0.07 |
| ENTG Entegris Inc. | Add +151.0% | 0.11% | +0.07 |
| COP Conocophillips | Add +60.8% | 0.17% | +0.06 |
| GTLS Chart Industries Inc. | Add +254.3% | 0.08% | +0.06 |
| FOX Fox Corp. Class B | Add +83.9% | 0.13% | +0.06 |
| ASML ASML Holding NV-NY Reg SHS | Add +313.9% | 0.07% | +0.05 |
| VIPS Vipshop Holdings Ltd. - ADR | Add +173.4% | 0.07% | +0.05 |
| OLLI Ollie's Bargain Outlet Holdi | Add +76.0% | 0.13% | +0.05 |
| AVDX Avidxchange Holdings Inc. | Add +170.1% | 0.08% | +0.05 |
| QCOM Qualcomm Inc. | Add +44.9% | 0.16% | +0.05 |
| NSC Norfolk Southern Corp. | Add +1104.5% | 0.05% | +0.05 |
| RIO Rio Tinto PLC-Spon ADR | Add +21.6% | 0.21% | +0.05 |
| ACI Albertsons Cos Inc. Class A | Add +1052.5% | 0.05% | +0.04 |
| PSMT Pricesmart Inc. | Add +24.9% | 0.17% | +0.04 |
| VBTX Veritex Holdings Inc. | New | 0.04% | +0.04 |
| PR Permian Resources Corp. Class A | Add +24.7% | 0.48% | +0.04 |
| NWSA News Corp. Class A | New | 0.04% | +0.04 |
| PG The Procter & Gamble Co. | Add +33.6% | 0.24% | +0.04 |
| EA Electronic Arts Inc. | Add +140.1% | 0.06% | +0.04 |
| BBD Banco Bradesco-ADR | New | 0.04% | +0.04 |
| B Barrick Mining Corp. | New | 0.04% | +0.04 |
| PNFP Pinnacle Financial Partners | New | 0.03% | +0.03 |
| CSX CSX Corp. | Add +1138.5% | 0.03% | +0.03 |
| ACLS Axcelis Technologies Inc. | Add +0.4% | 0.12% | +0.03 |
| IPG Interpublic Group of Cos Inc. | New | 0.03% | +0.03 |
| PGR Progressive Corp. | Add +876.1% | 0.03% | +0.03 |
| BF.B Brown-Forman Corp. Class B | Add +44.6% | 0.10% | +0.03 |
| AAON Aaon Inc. | Add +0.9% | 0.17% | +0.03 |
| OTEX Open Text Corp. | Add +2.5% | 0.15% | +0.03 |
| TXNM TXNM Energy Inc. | Add +40.2% | 0.11% | +0.03 |
| AMAT Applied Materials Inc. | Add +46.3% | 0.07% | +0.03 |
| NOC Northrop Grumman Corp. | Add +277.7% | 0.03% | +0.02 |
| CIB Grupo Cibest SA-ADR | Add +231.3% | 0.03% | +0.02 |
| HRB H&R Block Inc. | Add +173.2% | 0.04% | +0.02 |
| WB Weibo Corp.-Spon ADR | Add +99.8% | 0.04% | +0.02 |
| MOH Molina Healthcare Inc. | Add +1863.7% | 0.02% | +0.02 |
Options Activity Q2 2025 → Q3 2025
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Sold out | 347,000 | $131.6Mbefore exit |
| COOP Mr Cooper Group Inc. | put | Sold out | 161,200 | $24.1Mbefore exit |
| OMC Omnicom Group | put | New | 14,500 | $1.2M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
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 |