Lingohr Asset Management GmbH
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 4, 2025), Lingohr Asset Management GmbH reported 94 stock positions worth $57.3 million. Its top holding was Microsoft (MSFT) at 4.2% of the portfolio, followed by Anglogold Ashanti (AU, 3.4%) and Alphabet Class A (GOOGL, 3.2%). Compared with Q2 2025, it opened 24 new positions, sold out of 15, added to 14 and reduced 31. The biggest buy was a new position in Icici Bank Ltd.-Spon ADR (IBN) and the biggest sale an exit from Qfin Holdings Inc.-ADR (QFIN).
- Most Recent 13F
- Q3 2025
- Location
- DUESSELDORF, 2M
- CIK
- 0001527570
- Portfolio Value
- $57.3M (Q3 2025)
- SEC Filing
- 0001527570-25-000014 ↗ filed Nov 4, 2025
Holdings Value
Holdings 94 stocks · $57.3M
| MSFT Microsoft Corp. | 4.24% | 4,687 | $2.4M | Add +0.1% |
| AU Anglogold Ashanti PLC | 3.44% | 27,989 | $2.0M | Reduce -21.4% |
| GOOGL Alphabet Inc. Class A | 3.21% | 7,564 | $1.8M | Reduce -3.5% |
| TME Tencent Music Entertainm-ADR | 3.05% | 74,834 | $1.7M | No change |
| IFS Intercorp Financial Services | 2.83% | 40,535 | $1.6M | No change |
| IBN Icici Bank Ltd.-Spon ADR | 2.53% | 48,000 | $1.5M | New |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 2.34% | 83,514 | $1.3M | Reduce -16.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.27% | 2,590 | $1.3M | Reduce -1.9% |
| FTI Technipfmc PLC | 2.23% | 32,295 | $1.3M | Reduce -14.6% |
| DELL Dell Technologies -C | 2.20% | 8,898 | $1.3M | Add +26.0% |
| KT KT Corp.-SP ADR | 2.06% | 60,521 | $1.2M | Reduce -42.4% |
| META Meta Platforms Inc. Class A | 2.03% | 1,580 | $1.2M | Reduce -2.3% |
| MELI MercadoLibre Inc. | 2.02% | 494 | $1.2M | New |
| CCJ Cameco Corp. | 1.88% | 12,846 | $1.1M | Reduce -4.3% |
| MDT Medtronic PLC | 1.68% | 10,075 | $960K | No change |
| EXEL Exelixis Inc. | 1.62% | 22,522 | $930K | Add +7.8% |
| UBS UBS Group AG-Reg | 1.54% | 21,509 | $880K | Add +8.2% |
| AXS Axis Capital Holdings Ltd. | 1.53% | 9,132 | $875K | Reduce -11.8% |
| XOM Exxon Mobil Corp. | 1.50% | 7,613 | $858K | Reduce -6.7% |
| LRCX Lam Research Corp. | 1.49% | 6,355 | $851K | Reduce -26.3% |
| AMD Advanced Micro Devices | 1.47% | 5,214 | $844K | Reduce -7.9% |
| SMIN iShares MSCI India Small-Cap | 1.47% | 11,700 | $839K | Add +11.4% |
| NFLX Netflix Inc. | 1.41% | 672 | $806K | No change |
| NVT Nvent Electric PLC | 1.40% | 8,127 | $800K | Reduce -18.6% |
| FINV Finvolution Group-ADR | 1.36% | 105,690 | $779K | No change |
| GEN Gen Digital Inc. | 1.33% | 26,770 | $760K | No change |
| GILD Gilead Sciences Inc. | 1.31% | 6,737 | $748K | No change |
| ENIC Enel Chile SA-ADR | 1.23% | 180,657 | $703K | Reduce -27.8% |
| NRG NRG Energy Inc. | 1.22% | 4,340 | $701K | No change |
| WFC Wells Fargo & Co. | 1.20% | 8,185 | $686K | Reduce -19.6% |
| BNTX Biontech SE-ADR | 1.18% | 6,822 | $673K | No change |
| TSM Taiwan Semiconductor-SP ADR | 1.17% | 2,396 | $669K | Add +140.6% |
| MO Altria Group Inc. | 1.16% | 10,044 | $664K | Reduce -26.2% |
| TMO Thermo Fisher Scientific Inc. | 1.16% | 1,364 | $662K | Add +51.6% |
| UNH Unitedhealth Group Inc. | 1.15% | 1,900 | $656K | New |
| ADT Adt Inc. | 1.12% | 73,940 | $644K | New |
| ABBV Abbvie Inc. | 1.12% | 2,800 | $644K | Add +19.1% |
| CVLT Commvault Systems Inc. | 1.09% | 3,301 | $623K | Add +7.8% |
| VLO Valero Energy Corp. | 1.02% | 3,434 | $585K | No change |
| KHC The Kraft Heinz Co. | 0.99% | 21,652 | $564K | New |
| SPOT Spotify Technology SA | 0.97% | 800 | $558K | No change |
| FLEX Flex Ltd. | 0.94% | 9,283 | $538K | Reduce -31.0% |
| T AT&T Inc. | 0.93% | 19,038 | $532K | Reduce -12.5% |
| ORCL Oracle Corp. | 0.91% | 1,855 | $521K | Reduce -39.2% |
| EQT Eqt Corp. | 0.91% | 9,541 | $519K | No change |
| EME Emcor Group Inc. | 0.88% | 779 | $506K | Add +23.1% |
| MLI Mueller Industries Inc. | 0.88% | 4,954 | $501K | Add +16.4% |
| NTAP Netapp Inc. | 0.86% | 4,175 | $492K | Reduce -37.4% |
| FLR Fluor Corp. | 0.78% | 10,669 | $449K | Add +11.1% |
| GEV GE Vernova Inc. | 0.78% | 730 | $449K | Add +89.6% |
| ENS Enersys | 0.77% | 3,920 | $443K | Add +21.7% |
| SU Suncor Energy Inc. | 0.74% | 10,170 | $425K | Reduce -28.9% |
| CTSH Cognizant Tech Solutions-A | 0.74% | 6,329 | $424K | Reduce -12.0% |
| STLD Steel Dynamics Inc. | 0.71% | 2,919 | $407K | No change |
| DOX Amdocs Ltd. | 0.69% | 4,813 | $395K | Reduce -34.1% |
| MTG Mgic Investment Corp. | 0.67% | 13,534 | $384K | No change |
| SYF Synchrony Financial | 0.64% | 5,140 | $365K | Reduce -35.1% |
| ACT Enact Holdings Inc. | 0.62% | 9,299 | $357K | No change |
| RS Reliance Inc. | 0.61% | 1,244 | $349K | No change |
| QRVO Qorvo Inc. | 0.57% | 3,600 | $328K | New |
| MAT Mattel Inc. | 0.55% | 18,600 | $313K | No change |
| CEG Constellation Energy | 0.52% | 900 | $296K | New |
| DOCU Docusign Inc. | 0.50% | 3,955 | $285K | No change |
| INTU Intuit Inc. | 0.48% | 400 | $273K | New |
| ETN Eaton Corp. PLC | 0.47% | 720 | $269K | No change |
| TGT Target Corp. | 0.46% | 2,952 | $265K | New |
| CVX Chevron Corp. | 0.46% | 1,700 | $264K | No change |
| CARR Carrier Global Corp. | 0.46% | 4,400 | $262K | New |
| YUMC Yum China Holdings Inc. | 0.45% | 6,000 | $258K | New |
| LIN Linde PLC | 0.44% | 530 | $252K | No change |
| CW Curtiss-Wright Corp. | 0.43% | 457 | $248K | No change |
| FTNT Fortinet Inc. | 0.43% | 2,900 | $244K | New |
| FCX Freeport-McMoran Inc. | 0.42% | 6,230 | $243K | No change |
| ERII Energy Recovery Inc. | 0.42% | 15,603 | $241K | New |
| GRBK Green Brick Partners Inc. | 0.41% | 3,213 | $237K | New |
| CARG Cargurus Inc. | 0.41% | 6,352 | $236K | New |
| VEON Veon Ltd. | 0.41% | 4,312 | $235K | Reduce -35.4% |
| CINT Ci&t Inc./United States-A | 0.41% | 45,727 | $235K | New |
| IMO Imperial Oil Ltd. | 0.41% | 2,568 | $233K | No change |
| PRM Perimeter Solutions Inc. | 0.40% | 10,306 | $231K | Reduce -35.0% |
| SNX TD Synnex Corp. | 0.40% | 1,400 | $229K | New |
| OPFI Oppfi Inc. | 0.40% | 20,152 | $228K | New |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.39% | 800 | $226K | No change |
| PENG Penguin Solutions Inc. | 0.39% | 8,492 | $223K | Reduce -22.8% |
| JPM JPMorgan Chase & Co. | 0.38% | 700 | $220K | Reduce -60.6% |
| BYD Boyd Gaming Corp. | 0.38% | 2,485 | $215K | New |
| CLS Celestica Inc. | 0.37% | 864 | $213K | Reduce -54.7% |
| HALO Halozyme Therapeutics Inc. | 0.37% | 2,883 | $211K | New |
| TPC Tutor Perini Corp. | 0.36% | 3,192 | $209K | Reduce -27.5% |
| AES AES Corp. | 0.36% | 16,027 | $208K | New |
| COLL Collegium Pharmaceutical Inc. | 0.36% | 5,871 | $205K | New |
| BDC Belden Inc. | 0.35% | 1,679 | $202K | New |
| TEVA Teva Pharmaceutical-SP ADR | 0.35% | 10,000 | $202K | Reduce -44.4% |
| AMG Affiliated Managers Group | 0.35% | 843 | $201K | New |
Portfolio Sells Q2 2025 → Q3 2025
| QFIN Qfin Holdings Inc.-ADR | Sold out | 0.00% | −3.10 |
| KT KT Corp.-SP ADR | Reduce -42.4% | 2.06% | −1.90 |
| SE Sea Ltd.-ADR | Sold out | 0.00% | −1.15 |
| UNM Unum Group | Sold out | 0.00% | −1.00 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.98 |
| TGNA Tegna Inc. | Sold out | 0.00% | −0.95 |
| CNO Cno Financial Group Inc. | Sold out | 0.00% | −0.85 |
| TEAM Atlassian Corp. Class A | Sold out | 0.00% | −0.74 |
| JPM JPMorgan Chase & Co. | Reduce -60.6% | 0.38% | −0.54 |
| DOX Amdocs Ltd. | Reduce -34.1% | 0.69% | −0.52 |
| CRM Salesforce Inc. | Sold out | 0.00% | −0.51 |
| WCN Waste Connections Inc. | Sold out | 0.00% | −0.51 |
| AWK American Water Works Co. Inc. | Sold out | 0.00% | −0.50 |
| TYL Tyler Technologies Inc. | Sold out | 0.00% | −0.48 |
| JAZZ Jazz Pharmaceuticals PLC | Sold out | 0.00% | −0.46 |
| AMTM Amentum Holdings Inc. | Sold out | 0.00% | −0.43 |
| NTAP Netapp Inc. | Reduce -37.4% | 0.86% | −0.42 |
| AXS Axis Capital Holdings Ltd. | Reduce -11.8% | 1.53% | −0.42 |
| ENIC Enel Chile SA-ADR | Reduce -27.8% | 1.23% | −0.42 |
| PINS Pinterest Inc. Class A | Sold out | 0.00% | −0.41 |
| STRL Sterling Infrastructure Inc. | Sold out | 0.00% | −0.39 |
| SYF Synchrony Financial | Reduce -35.1% | 0.64% | −0.32 |
| ORCL Oracle Corp. | Reduce -39.2% | 0.91% | −0.30 |
| MO Altria Group Inc. | Reduce -26.2% | 1.16% | −0.29 |
| WFC Wells Fargo & Co. | Reduce -19.6% | 1.20% | −0.28 |
| FLEX Flex Ltd. | Reduce -31.0% | 0.94% | −0.28 |
| CTSH Cognizant Tech Solutions-A | Reduce -12.0% | 0.74% | −0.28 |
| FTI Technipfmc PLC | Reduce -14.6% | 2.23% | −0.23 |
| SU Suncor Energy Inc. | Reduce -28.9% | 0.74% | −0.23 |
| T AT&T Inc. | Reduce -12.5% | 0.93% | −0.21 |
| TEVA Teva Pharmaceutical-SP ADR | Reduce -44.4% | 0.35% | −0.19 |
| CLS Celestica Inc. | Reduce -54.7% | 0.37% | −0.17 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -16.8% | 2.34% | −0.16 |
| VEON Veon Ltd. | Reduce -35.4% | 0.41% | −0.15 |
| META Meta Platforms Inc. Class A | Reduce -2.3% | 2.03% | −0.14 |
| XOM Exxon Mobil Corp. | Reduce -6.7% | 1.50% | −0.10 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.9% | 2.27% | −0.05 |
| LRCX Lam Research Corp. | Reduce -26.3% | 1.49% | −0.03 |
| TPC Tutor Perini Corp. | Reduce -27.5% | 0.36% | −0.01 |
| PENG Penguin Solutions Inc. | Reduce -22.8% | 0.39% | −0.01 |
| PRM Perimeter Solutions Inc. | Reduce -35.0% | 0.40% | +0.00 |
| AMD Advanced Micro Devices | Reduce -7.9% | 1.47% | +0.02 |
| NVT Nvent Electric PLC | Reduce -18.6% | 1.40% | +0.07 |
| CCJ Cameco Corp. | Reduce -4.3% | 1.88% | +0.08 |
| AU Anglogold Ashanti PLC | Reduce -21.4% | 3.44% | +0.49 |
| GOOGL Alphabet Inc. Class A | Reduce -3.5% | 3.21% | +0.71 |
Portfolio Buys Q2 2025 → Q3 2025
| IBN Icici Bank Ltd.-Spon ADR | New | 2.53% | +2.53 |
| MELI MercadoLibre Inc. | New | 2.02% | +2.02 |
| UNH Unitedhealth Group Inc. | New | 1.15% | +1.15 |
| ADT Adt Inc. | New | 1.12% | +1.12 |
| KHC The Kraft Heinz Co. | New | 0.99% | +0.99 |
| TSM Taiwan Semiconductor-SP ADR | Add +140.6% | 1.17% | +0.76 |
| DELL Dell Technologies -C | Add +26.0% | 2.20% | +0.63 |
| QRVO Qorvo Inc. | New | 0.57% | +0.57 |
| CEG Constellation Energy | New | 0.52% | +0.52 |
| TMO Thermo Fisher Scientific Inc. | Add +51.6% | 1.16% | +0.49 |
| INTU Intuit Inc. | New | 0.48% | +0.48 |
| TGT Target Corp. | New | 0.46% | +0.46 |
| CARR Carrier Global Corp. | New | 0.46% | +0.46 |
| YUMC Yum China Holdings Inc. | New | 0.45% | +0.45 |
| FTNT Fortinet Inc. | New | 0.43% | +0.43 |
| ERII Energy Recovery Inc. | New | 0.42% | +0.42 |
| GEV GE Vernova Inc. | Add +89.6% | 0.78% | +0.41 |
| GRBK Green Brick Partners Inc. | New | 0.41% | +0.41 |
| CARG Cargurus Inc. | New | 0.41% | +0.41 |
| CINT Ci&t Inc./United States-A | New | 0.41% | +0.41 |
| SNX TD Synnex Corp. | New | 0.40% | +0.40 |
| OPFI Oppfi Inc. | New | 0.40% | +0.40 |
| BYD Boyd Gaming Corp. | New | 0.38% | +0.38 |
| HALO Halozyme Therapeutics Inc. | New | 0.37% | +0.37 |
| AES AES Corp. | New | 0.36% | +0.36 |
| COLL Collegium Pharmaceutical Inc. | New | 0.36% | +0.36 |
| BDC Belden Inc. | New | 0.35% | +0.35 |
| AMG Affiliated Managers Group | New | 0.35% | +0.35 |
| ABBV Abbvie Inc. | Add +19.1% | 1.12% | +0.33 |
| UBS UBS Group AG-Reg | Add +8.2% | 1.54% | +0.32 |
| ENS Enersys | Add +21.7% | 0.77% | +0.27 |
| EME Emcor Group Inc. | Add +23.1% | 0.88% | +0.27 |
| MLI Mueller Industries Inc. | Add +16.4% | 0.88% | +0.26 |
| CVLT Commvault Systems Inc. | Add +7.8% | 1.09% | +0.12 |
| MSFT Microsoft Corp. | Add +0.1% | 4.24% | +0.02 |
| SMIN iShares MSCI India Small-Cap | Add +11.4% | 1.47% | −0.00 |
| EXEL Exelixis Inc. | Add +7.8% | 1.62% | −0.05 |
| FLR Fluor Corp. | Add +11.1% | 0.78% | −0.11 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2025Amended | 94 | $57.3M | MSFT, AU, GOOGL, TME, IFS |
| Q2 2025 | 85 | $55.2M | MSFT, KT, QFIN, AU, IFS |
| Q1 2025 | 92 | $399.1M | BRK.B, MSFT, GOOGL, T, ORCL |
| Q4 2024 | 83 | $48.2M | BRK.B, VIPS, KT, MSFT, JXN |
| Q3 2024 | 51 | $41.3M | APP, AYI, ACIW, GEV, META |
| Q2 2024 | 55 | $40.0M | GOOGL, STLA, META, APP, ACIW |
| Q1 2024 | 54 | $40.0M | GTES, JXN, GOOGL, STLA, STLD |