LFL Advisers, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 13, 2026), LFL Advisers, LLC reported 9 stock positions worth $332.4 million. Its top holding was Bank of New York Mellon (BNY) at 16.4% of the portfolio, followed by Te Connectivity (TEL, 14.7%) and Sunbelt Rentals (SUNB, 12.8%). Compared with Q4 2025, it opened 1 new position, added to 6 and reduced 2. The biggest buy was a new position in Sunbelt Rentals (SUNB) and the biggest sale Alphabet Class C (GOOG, shares −22%).

Most Recent 13F
Q2 2026
Location
EVANSTON, IL
CIK
0001694127
Portfolio Value
$332.4M (Q1 2026)
SEC Filing
0001694127-26-000002 ↗ filed May 13, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $277.0M Q1 2024 Q2 2024: $254.1M Q2 2024 Q3 2024: $279.0M Q3 2024 Q4 2024: $256.7M Q4 2024 Q1 2025: $228.6M Q1 2025 Q2 2025: $250.2M Q2 2025 Q3 2025: $288.9M Q3 2025 Q4 2025: $304.8M Q4 2025 Q1 2026: $332.4M $332.4M Q1 2026 Q2 2026: $374.0M Q2 2026

Holdings 9 stocks · $332.4M
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 16.40% 459,541 $54.5M Reduce -0.7%
TEL Te Connectivity PLC 14.72% 234,044 $48.9M Add +0.1%
SUNB Sunbelt Rentals Holdings Inc. 12.83% 659,883 $42.7M New
AON Aon PLC Class A 12.30% 126,666 $40.9M Add +36.7%
LAMR Lamar Advertising Co. Class A 12.05% 316,340 $40.1M Add +2.6%
ALV Autoliv Inc. 9.96% 314,925 $33.1M Add +0.1%
GOOG Alphabet Inc. Class C 8.76% 101,453 $29.1M Reduce -22.3%
PGR Progressive Corp. 8.40% 140,779 $27.9M Add +0.4%
BRK.B Berkshire Hathaway Inc. Class B 4.58% 31,803 $15.2M Add +0.3%

Portfolio Sells Q4 2025 → Q1 2026
GOOG Alphabet Inc. Class C Reduce -22.3% 8.76% −4.69
BNY Bank of New York Mellon Corp. Reduce -0.7% 16.40% −1.22

Portfolio Buys Q4 2025 → Q1 2026
SUNB Sunbelt Rentals Holdings Inc. New 12.83% +12.83
AON Aon PLC Class A Add +36.7% 12.30% +1.57
BRK.B Berkshire Hathaway Inc. Class B Add +0.3% 4.58% −0.64
LAMR Lamar Advertising Co. Class A Add +2.6% 12.05% −0.75
PGR Progressive Corp. Add +0.4% 8.40% −2.08
ALV Autoliv Inc. Add +0.1% 9.96% −2.28
TEL Te Connectivity PLC Add +0.1% 14.72% −2.74

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 9$374.0MBNY, LAMR, TEL, AON, SUNB
Q1 2026 9$332.4MBNY, TEL, SUNB, AON, LAMR
Q4 2025 8$304.8MBNY, TEL, GOOG, LAMR, ALV
Q3 2025 8$288.9MTEL, BNY, ALV, LAMR, AON
Q2 2025 8$250.2MTEL, BNY, LAMR, ALV, PGR
Q1 2025 8$228.6MBNY, TEL, AON, LAMR, PGR
Q4 2024 9$256.7MLAMR, TEL, BNY, AON, PGR
Q3 2024 10$279.0MCDW, LAMR, TEL, BNY, AON
Q2 2024 11$254.1MCDW, TEL, LAMR, ALV, BNY
Q1 2024 11$277.0MCDW, TEL, ALV, LAMR, AON