Kornitzer Capital Management Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 2, 2026), Kornitzer Capital Management Inc. reported 495 stock positions worth $4.8 billion. Its top holding was Microsoft (MSFT) at 5.4% of the portfolio, followed by Chevron (CVX, 3.1%) and Eli Lilly (LLY, 2.5%). Compared with Q3 2025, it opened 31 new positions, sold out of 24, added to 120 and reduced 223. The biggest buy was Merck (MRK, shares +1%) and the biggest sale Microsoft (MSFT, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- SHAWNEE MISSION, KS
- CIK
- 0000898358
- Portfolio Value
- $4.8B (Q4 2025)
- SEC Filing
- 0000898358-26-000003 ↗ filed Feb 2, 2026
Holdings Value
Holdings 495 stocks · $4.8B
| MSFT Microsoft Corp. | 5.44% | 537,779 | $260.1M | Reduce -2.6% |
| CVX Chevron Corp. | 3.12% | 979,063 | $149.2M | Reduce -2.4% |
| LLY Eli Lilly & Co. | 2.50% | 111,140 | $119.4M | Reduce -10.0% |
| AAPL Apple Inc. | 2.40% | 421,039 | $114.5M | Reduce -2.9% |
| GOOGL Alphabet Inc. Class A | 2.14% | 327,355 | $102.5M | Reduce -5.8% |
| COST Costco Wholesale Corp. | 1.77% | 97,946 | $84.5M | Reduce -2.0% |
| XOM Exxon Mobil Corp. | 1.69% | 671,397 | $80.8M | Reduce -1.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.56% | 251,641 | $74.5M | Reduce -2.5% |
| KMI Kinder Morgan Inc. | 1.48% | 2,580,021 | $70.9M | Reduce -1.9% |
| JNJ Johnson & Johnson | 1.48% | 341,174 | $70.6M | Reduce -1.9% |
| CSCO Cisco Systems Inc. | 1.43% | 884,545 | $68.1M | Reduce -0.1% |
| WM Waste Management Inc. | 1.41% | 307,389 | $67.5M | Reduce -3.3% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.33% | 245,313 | $63.5M | Reduce -0.7% |
| AMZN Amazon.com Inc. | 1.24% | 257,037 | $59.3M | Reduce -0.7% |
| PEP Pepsico Inc. | 1.23% | 410,197 | $58.9M | Reduce -0.6% |
| QCOM Qualcomm Inc. | 1.23% | 342,318 | $58.6M | Reduce -0.6% |
| MRK Merck & Co. Inc. | 1.22% | 552,959 | $58.2M | Add +1.4% |
| META Meta Platforms Inc. Class A | 1.20% | 86,812 | $57.3M | Reduce -0.8% |
| WMT Walmart Inc. | 1.18% | 507,733 | $56.6M | Reduce -2.2% |
| NVDA Nvidia Corp. | 1.16% | 296,833 | $55.4M | Add +0.8% |
| SLB SLB Ltd. filed as SLB LIMITED | 1.11% | 1,387,815 | $53.3M | Reduce -2.8% |
| PG The Procter & Gamble Co. | 1.07% | 356,538 | $51.1M | Reduce -1.8% |
| COP Conocophillips | 1.02% | 518,986 | $48.6M | Reduce -1.8% |
| ABT Abbott Laboratories | 0.99% | 377,278 | $47.3M | Reduce -1.5% |
| ALL Allstate Corp. | 0.97% | 222,536 | $46.3M | Reduce -1.6% |
| APA Apa Corp. | 0.95% | 1,863,388 | $45.6M | Reduce -0.5% |
| KO The Coca-Cola Co. | 0.85% | 582,250 | $40.7M | Reduce -8.7% |
| GILD Gilead Sciences Inc. | 0.84% | 328,854 | $40.4M | Reduce -1.7% |
| VZ Verizon Communications Inc. | 0.80% | 934,040 | $38.0M | Add +1.5% |
| GD General Dynamics Corp. | 0.73% | 104,169 | $35.1M | Reduce -4.9% |
| TFC Truist Financial Corp. | 0.73% | 711,099 | $35.0M | Reduce -1.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.72% | 113,389 | $34.5M | Add +2.1% |
| JPM JPMorgan Chase & Co. | 0.69% | 102,190 | $32.9M | Add +1.2% |
| PFE Pfizer Inc. | 0.65% | 1,241,556 | $30.9M | Reduce -0.4% |
| SHEL Shell PLC-ADR | 0.64% | 416,277 | $30.6M | Add +5.6% |
| ABBNY Abb Ltd.-Spon ADR | 0.60% | 384,375 | $28.7M | Reduce -3.9% |
| KMB Kimberly-Clark Corp. | 0.59% | 278,919 | $28.1M | Reduce -3.3% |
| NEM Newmont Corp. | 0.57% | 273,825 | $27.3M | Reduce -2.0% |
| AZN Astrazeneca PLC-Spons ADR | 0.57% | 293,777 | $27.0M | Reduce -1.3% |
| CINF Cincinnati Financial Corp. | 0.56% | 162,953 | $26.6M | Reduce -3.0% |
| MELI MercadoLibre Inc. | 0.51% | 12,201 | $24.6M | Reduce -0.2% |
| V Visa Inc. Class A | 0.51% | 70,026 | $24.6M | Reduce -0.4% |
| BKNG Booking Holdings Inc. | 0.51% | 4,545 | $24.3M | Reduce -0.1% |
| RIO Rio Tinto PLC-Spon ADR | 0.48% | 287,838 | $23.0M | Reduce -3.3% |
| T AT&T Inc. | 0.48% | 927,015 | $23.0M | Add +0.7% |
| MSCI MSCI Inc. | 0.47% | 38,947 | $22.3M | Reduce -23.1% |
| MLM Martin Marietta Materials | 0.47% | 35,848 | $22.3M | Reduce -25.4% |
| CFG Citizens Financial Group | 0.47% | 381,985 | $22.3M | Reduce -0.5% |
| DINO HF Sinclair Corp. | 0.46% | 481,964 | $22.2M | Reduce -3.0% |
| ASML ASML Holding NV-NY Reg SHS | 0.46% | 20,755 | $22.2M | Add +0.6% |
| UL Unilever PLC-Sponsored ADR | 0.46% | 333,215 | $21.8M | Add +2.8% |
| RTX RTX Corp. | 0.44% | 115,515 | $21.2M | Reduce -6.9% |
| CRH CRH PLC | 0.44% | 168,345 | $21.0M | Add +0.5% |
| VST Vistra Corp. | 0.43% | 126,993 | $20.5M | Reduce -18.0% |
| VRSK Verisk Analytics Inc. | 0.43% | 91,145 | $20.4M | Add +17.0% |
| CLX Clorox Company | 0.41% | 195,813 | $19.7M | Reduce -5.0% |
| LIN Linde PLC | 0.41% | 45,916 | $19.6M | Add +11.1% |
| HLT Hilton Worldwide Holdings Inc. | 0.39% | 64,425 | $18.5M | Add +14.2% |
| SAP Sap SE-Sponsored ADR | 0.38% | 75,000 | $18.2M | No change |
| EMR Emerson Electric Co. | 0.38% | 136,090 | $18.1M | Reduce -3.3% |
| GOOG Alphabet Inc. Class C | 0.37% | 56,265 | $17.7M | Reduce -12.3% |
| GIS General Mills Inc. | 0.37% | 377,028 | $17.5M | Reduce -1.7% |
| BMY Bristol-Myers Squibb Co. | 0.36% | 315,124 | $17.0M | Add +3.0% |
| GSK GSK PLC-Spon ADR | 0.34% | 331,875 | $16.3M | Reduce -3.2% |
| VEEV Veeva Systems Inc. Class A | 0.34% | 72,181 | $16.1M | Reduce -22.5% |
| BP BP PLC-Spons ADR | 0.34% | 463,064 | $16.1M | Reduce -1.1% |
| AON Aon PLC Class A | 0.33% | 44,866 | $15.8M | No change |
| AVGO Broadcom Inc. | 0.32% | 44,216 | $15.3M | Add +4.7% |
| PYPL PayPal Holdings Inc. | 0.32% | 260,383 | $15.2M | Reduce -5.4% |
| CSGP Costar Group Inc. | 0.32% | 224,416 | $15.1M | Reduce -3.1% |
| GFL GFL Environmental Inc.-Sub VT | 0.31% | 350,000 | $15.0M | No change |
| RSG Republic Services Inc. | 0.31% | 70,579 | $15.0M | Reduce -4.4% |
| KNSL Kinsale Capital Group Inc. | 0.31% | 37,990 | $14.9M | No change |
| DLR Digital Realty Trust Inc. | 0.29% | 90,000 | $13.9M | No change |
| RGEN Repligen Corp. | 0.29% | 83,780 | $13.7M | Add +7.0% |
| VRT Vertiv Holdings Co. Class A | 0.28% | 83,994 | $13.6M | Reduce -31.4% |
| MA Mastercard Inc. Class A | 0.28% | 23,704 | $13.5M | Add +1.7% |
| OPCH Option Care Health Inc. | 0.28% | 424,620 | $13.5M | Add +0.0% |
| EMN Eastman Chemical Co. | 0.28% | 210,552 | $13.4M | Add +29.5% |
| CPRT Copart Inc. | 0.28% | 341,539 | $13.4M | Add +8.0% |
| ADM Archer-Daniels-Midland Co. | 0.28% | 231,475 | $13.3M | Reduce -2.4% |
| TRU Transunion | 0.27% | 151,546 | $13.0M | Reduce -33.1% |
| AME Ametek Inc. | 0.27% | 63,275 | $13.0M | Reduce -15.9% |
| RCL Royal Caribbean Cruises Ltd. | 0.27% | 45,626 | $12.7M | Add +166.4% |
| FOUR SHIFT4 Payments Inc. Class A | 0.26% | 198,686 | $12.5M | Reduce -20.4% |
| SKY Champion Homes Inc. | 0.26% | 146,731 | $12.4M | Add +0.1% |
| PCOR Procore Technologies Inc. | 0.26% | 169,800 | $12.4M | Reduce -13.7% |
| OLED Universal Display Corp. | 0.26% | 105,487 | $12.3M | No change |
| LYV Live Nation Entertainment Inc. | 0.26% | 86,000 | $12.3M | No change |
| CME Cme Group Inc. | 0.25% | 44,572 | $12.2M | Reduce -3.5% |
| MDT Medtronic PLC | 0.25% | 124,460 | $12.0M | Add +1.4% |
| WT Wisdomtree Inc. | 0.25% | 971,380 | $11.8M | Add +0.1% |
| IT Gartner Inc. | 0.25% | 46,871 | $11.8M | Add +0.0% |
| EGY Vaalco Energy Inc. | 0.25% | 3,228,660 | $11.8M | Add +0.9% |
| NTRA Natera Inc. | 0.24% | 49,929 | $11.4M | Reduce -43.4% |
| SYY Sysco Corp. | 0.24% | 154,909 | $11.4M | Reduce -5.0% |
| LGND Ligand Pharmaceuticals | 0.24% | 60,342 | $11.4M | Reduce -33.8% |
| JBTM JBT Marel Corp. | 0.24% | 75,275 | $11.3M | No change |
| IDXX Idexx Laboratories Inc. | 0.24% | 16,744 | $11.3M | No change |
| CAG Conagra Brands Inc. | 0.23% | 644,968 | $11.2M | Reduce -13.2% |
Other holdings (13): bonds, preferreds, convertibles and warrants · $35.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 110,000 | $7.6M | No change |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 150,000 | $6.1M | No change |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 4,000,000 | $4.1M | Add +100.0% |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 1,100,000 | $2.8M | No change |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 750,000 | $2.8M | No change |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | 30,000 | $2.4M | No change |
| STRIDE INC (LRN 1.125 09/01/27) | NOTE 1.125% 9/0 · principal | 1,600,000 | $2.2M | No change |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 1,250,000 | $2.1M | No change |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 2,000,000 | $1.8M | No change |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | 30,000 | $1.7M | No change |
| PTC THERAPEUTICS INC (PTCT 1.5 09/15/26) | NOTE 1.500% 9/1 · principal | 600,000 | $889K | No change |
| BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) | NOTE 1.250% 5/1 · principal | 500,000 | $479K | No change |
| APELLIS PHARMACEUTICALS (APLS 3.5 09/15/26) | NOTE 3.500% 9/1 · principal | 300,000 | $308K | No change |
Total filed on the 13F, all lines: $4.8B.
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -2.6% | 5.44% | −0.34 |
| K Kellanova | Sold out | 0.00% | −0.31 |
| VRNS Varonis Systems Inc. | Reduce -41.2% | 0.12% | −0.23 |
| VEEV Veeva Systems Inc. Class A | Reduce -22.5% | 0.34% | −0.22 |
| AJG Arthur J Gallagher & Co. | Reduce -0.7% | 1.33% | −0.22 |
| VST Vistra Corp. | Reduce -18.0% | 0.43% | −0.18 |
| SNOW Snowflake Inc. | Reduce -59.3% | 0.11% | −0.16 |
| MLM Martin Marietta Materials | Reduce -25.4% | 0.47% | −0.15 |
| KMB Kimberly-Clark Corp. | Reduce -3.3% | 0.59% | −0.14 |
| NTNX Nutanix Inc. Class A | Reduce -90.8% | 0.01% | −0.14 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -20.4% | 0.26% | −0.13 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -53.1% | 0.09% | −0.13 |
| BIRK Birkenstock Holding PLC | Reduce -44.2% | 0.14% | −0.13 |
| EFX Equifax Inc. | Reduce -47.1% | 0.11% | −0.12 |
| CCL Carnival Corp. | Reduce -78.1% | 0.04% | −0.12 |
| CIEN Ciena Corp. | Reduce -73.7% | 0.09% | −0.11 |
| MSCI MSCI Inc. | Reduce -23.1% | 0.47% | −0.11 |
| DKNG Draftkings Inc. Class A | Sold out | 0.00% | −0.11 |
| TRU Transunion | Reduce -33.1% | 0.27% | −0.11 |
| DDOG Datadog Inc. Class A | Reduce -70.5% | 0.05% | −0.11 |
| STRL Sterling Infrastructure Inc. | Reduce -52.5% | 0.08% | −0.11 |
| COST Costco Wholesale Corp. | Reduce -2.0% | 1.77% | −0.10 |
| DV Doubleverify Holdings Inc. | Sold out | 0.00% | −0.10 |
| CLX Clorox Company | Reduce -5.0% | 0.41% | −0.10 |
| META Meta Platforms Inc. Class A | Reduce -0.8% | 1.20% | −0.10 |
| AVAV Aerovironment Inc. | Reduce -22.2% | 0.16% | −0.10 |
| ICLR Icon PLC | Reduce -53.8% | 0.10% | −0.10 |
| VRT Vertiv Holdings Co. Class A | Reduce -31.4% | 0.28% | −0.09 |
| LGND Ligand Pharmaceuticals | Reduce -33.8% | 0.24% | −0.09 |
| IONQ Ionq Inc. | Sold out | 0.00% | −0.09 |
| CSGP Costar Group Inc. | Reduce -3.1% | 0.32% | −0.08 |
| ALC Alcon Inc. | Reduce -33.1% | 0.21% | −0.08 |
| GPC Genuine Parts Co. | Reduce -50.2% | 0.06% | −0.07 |
| COR Cencora Inc. | Reduce -31.3% | 0.22% | −0.07 |
| MELI MercadoLibre Inc. | Reduce -0.2% | 0.51% | −0.06 |
| CCC CCC Intelligent Solutions Ho | Reduce -50.8% | 0.05% | −0.06 |
| DINO HF Sinclair Corp. | Reduce -3.0% | 0.46% | −0.06 |
| PG The Procter & Gamble Co. | Reduce -1.8% | 1.07% | −0.06 |
| PYPL PayPal Holdings Inc. | Reduce -5.4% | 0.32% | −0.06 |
| ROST Ross Stores Inc. | Reduce -51.4% | 0.08% | −0.05 |
| GWRE Guidewire Software Inc. | Reduce -13.5% | 0.19% | −0.05 |
| DAVA Endava PLC- Spon ADR | Sold out | 0.00% | −0.05 |
| APH Amphenol Corp. Class A | Reduce -35.5% | 0.14% | −0.05 |
| IQV Iqvia Holdings Inc. | Reduce -59.7% | 0.05% | −0.05 |
| ABT Abbott Laboratories | Reduce -1.5% | 0.99% | −0.05 |
| NTRA Natera Inc. | Reduce -43.4% | 0.24% | −0.05 |
| UBER Uber Technologies Inc. | Reduce -4.4% | 0.22% | −0.05 |
| MORN Morningstar Inc. | Reduce -40.6% | 0.06% | −0.05 |
| CRDO Credo Technology Group Holdi | Reduce -33.8% | 0.10% | −0.05 |
| ECG Everus Construction Group | Reduce -33.3% | 0.10% | −0.05 |
Portfolio Buys Q3 2025 → Q4 2025
| MRK Merck & Co. Inc. | Add +1.4% | 1.22% | +0.29 |
| RCL Royal Caribbean Cruises Ltd. | Add +166.4% | 0.27% | +0.15 |
| VMC Vulcan Materials Co. | New | 0.12% | +0.12 |
| FLUT Flutter Entertainment PLC-Di | New | 0.11% | +0.11 |
| USB US Bancorp | Add +141.2% | 0.16% | +0.10 |
| LPLA LPL Financial Holdings Inc. | New | 0.10% | +0.10 |
| NRG NRG Energy Inc. | New | 0.10% | +0.10 |
| ROK Rockwell Automation Inc. | Add +216.5% | 0.13% | +0.09 |
| TSM Taiwan Semiconductor-SP ADR | Add +2.1% | 0.72% | +0.09 |
| HLT Hilton Worldwide Holdings Inc. | Add +14.2% | 0.39% | +0.09 |
| CELH Celsius Holdings Inc. | Add +103.2% | 0.22% | +0.09 |
| CWST Casella Waste Systems Inc. Class A | New | 0.09% | +0.09 |
| JLL Jones Lang Lasalle Inc. | New | 0.09% | +0.09 |
| BMY Bristol-Myers Squibb Co. | Add +3.0% | 0.36% | +0.08 |
| RGEN Repligen Corp. | Add +7.0% | 0.29% | +0.08 |
| EMN Eastman Chemical Co. | Add +29.5% | 0.28% | +0.07 |
| SHEL Shell PLC-ADR | Add +5.6% | 0.64% | +0.07 |
| ARQT Arcutis Biotherapeutics Inc. | New | 0.07% | +0.07 |
| ASML ASML Holding NV-NY Reg SHS | Add +0.6% | 0.46% | +0.06 |
| ICE Intercontinental Exchange Inc. | Add +32.5% | 0.22% | +0.05 |
| ARWR Arrowhead Pharmaceuticals Inc. | New | 0.05% | +0.05 |
| CAH Cardinal Health Inc. | Add +100.8% | 0.08% | +0.05 |
| ZYME Zymeworks Inc. | New | 0.05% | +0.05 |
| IONS Ionis Pharmaceuticals Inc. | New | 0.05% | +0.05 |
| NVDA Nvidia Corp. | Add +0.8% | 1.16% | +0.05 |
| FERG Ferguson Enterprises Inc. | Add +150.9% | 0.07% | +0.04 |
| JPM JPMorgan Chase & Co. | Add +1.2% | 0.69% | +0.04 |
| OPCH Option Care Health Inc. | Add +0.0% | 0.28% | +0.04 |
| SEI Solaris Energy Infrastructur | Add +61.8% | 0.09% | +0.04 |
| PGNY Progyny Inc. | Add +0.0% | 0.23% | +0.04 |
| BE Bloom Energy Corp. Class A | New | 0.04% | +0.04 |
| AVGO Broadcom Inc. | Add +4.7% | 0.32% | +0.04 |
| AMGN Amgen Inc. | Add +19.6% | 0.13% | +0.04 |
| HWM Howmet Aerospace Inc. | Add +18.3% | 0.16% | +0.03 |
| CRH CRH PLC | Add +0.5% | 0.44% | +0.03 |
| C Citigroup Inc. | Add +6.7% | 0.16% | +0.03 |
| SKY Champion Homes Inc. | Add +0.1% | 0.26% | +0.03 |
| SITM Sitime Corp. | Add +7.4% | 0.14% | +0.03 |
| WING Wingstop Inc. | Add +113.8% | 0.06% | +0.03 |
| REGN Regeneron Pharmaceuticals | New | 0.03% | +0.03 |
| VRSK Verisk Analytics Inc. | Add +17.0% | 0.43% | +0.03 |
| WHD Cactus Inc. Class A | Add +0.1% | 0.17% | +0.03 |
| ABBV Abbvie Inc. | Add +22.7% | 0.13% | +0.03 |
| TCEHY Tencent Holdings Ltd.-Uns ADR | Add +30.8% | 0.14% | +0.02 |
| PJT PJT Partners Inc. Class A | Add +28.8% | 0.12% | +0.02 |
| DHR Danaher Corp. | Add +36.7% | 0.06% | +0.02 |
| AMAT Applied Materials Inc. | Add +39.8% | 0.05% | +0.02 |
| TMUS T-Mobile US Inc. | Add +298.8% | 0.03% | +0.02 |
| FEIM Frequency Electronics Inc. | New | 0.02% | +0.02 |
| MAMA Mama's Creations Inc. | New | 0.02% | +0.02 |
Notes & Other Activity Q3 2025 → Q4 2025
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | Add +100.0% | 4,000,000 | $4.1M |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | Sold out | 750,000 | $693Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 541 | $4.8B | MSFT, CVX, LLY, AAPL, GOOGL |
| Q1 2026 | 497 | $4.6B | MSFT, CVX, XOM, AAPL, LLY |
| Q4 2025 | 495 | $4.8B | MSFT, CVX, LLY, AAPL, GOOGL |
| Q3 2025 | 487 | $4.9B | MSFT, CVX, AAPL, LLY, COST |
| Q2 2025 | 480 | $4.9B | MSFT, COST, LLY, AAPL, AJG |
| Q1 2025 | 453 | $4.8B | MSFT, AAPL, LLY, COST, HES |
| Q4 2024 | 457 | $5.1B | MSFT, AAPL, COST, LLY, HES |
| Q3 2024 | 460 | $5.4B | MSFT, AAPL, LLY, COST, HES |
| Q2 2024 | 459 | $5.3B | MSFT, LLY, AAPL, COST, HES |
| Q1 2024 | 458 | $5.4B | MSFT, LLY, HES, AAPL, COST |