Lyrical Asset Management LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Lyrical Asset Management LP reported 38 stock positions worth $6.9 billion. Its top holding was NRG Energy (NRG) at 7.3% of the portfolio, followed by Flex (FLEX, 5.7%) and United Rentals (URI, 5.7%). Compared with Q1 2025, it opened 2 new positions, sold out of 2, added to 4 and reduced 32. The biggest buy was a new position in LKQ (LKQ) and the biggest sale an exit from Berry Global (BERY).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001542302
- Portfolio Value
- $6.9B (Q2 2025)
- SEC Filing
- 0001062993-25-014128 ↗ filed Aug 12, 2025
Holdings Value
Holdings 38 stocks · $6.9B
| NRG NRG Energy Inc. | 7.28% | 3,145,095 | $505.0M | Reduce -11.9% |
| FLEX Flex Ltd. | 5.74% | 7,972,366 | $398.0M | Reduce -7.3% |
| URI United Rentals Inc. | 5.66% | 521,180 | $392.7M | Reduce -8.6% |
| AMP Ameriprise Financial Inc. | 5.55% | 720,660 | $384.6M | Reduce -8.5% |
| JCI Johnson Controls Internation | 5.27% | 3,461,065 | $365.6M | Reduce -8.1% |
| AER Aercap Holdings NV | 4.74% | 2,811,389 | $328.9M | Reduce -7.5% |
| FIS Fidelity National Info Serv | 4.37% | 3,722,727 | $303.1M | Reduce -8.4% |
| FFIV F5 Inc. | 4.19% | 988,464 | $290.9M | Reduce -7.3% |
| EBAY eBay Inc. | 3.94% | 3,671,239 | $273.4M | Reduce -8.0% |
| HCA HCA Healthcare Inc. | 3.91% | 707,466 | $271.0M | Reduce -7.3% |
| EXPE Expedia Group Inc. | 3.88% | 1,596,080 | $269.2M | Reduce -7.8% |
| UBER Uber Technologies Inc. | 3.64% | 2,707,141 | $252.6M | Reduce -11.2% |
| CI The Cigna Group | 3.52% | 738,916 | $244.3M | Reduce -7.7% |
| SU Suncor Energy Inc. | 3.41% | 4,630,892 | $236.2M | Reduce -11.2% |
| GEN Gen Digital Inc. | 3.36% | 7,929,098 | $233.1M | Reduce -7.1% |
| CPAY Corpay Inc. | 3.08% | 643,768 | $213.6M | Reduce -11.0% |
| ARW Arrow Electronics Inc. | 2.45% | 1,333,173 | $169.9M | Reduce -7.0% |
| SNX TD Synnex Corp. | 2.33% | 1,193,133 | $161.9M | Reduce -6.1% |
| LAD Lithia Motors Inc. | 2.29% | 469,716 | $158.7M | Reduce -6.6% |
| PRI Primerica Inc. | 2.05% | 519,340 | $142.1M | Reduce -10.6% |
| GPN Global Payments Inc. | 1.95% | 1,691,973 | $135.4M | Reduce -6.9% |
| AIZ Assurant Inc. | 1.82% | 637,971 | $126.0M | Reduce -10.8% |
| HSIC Henry Schein Inc. | 1.69% | 1,604,305 | $117.2M | Reduce -10.9% |
| WCC Wesco International Inc. | 1.65% | 618,611 | $114.6M | Reduce -10.6% |
| LKQ LKQ Corp. | 1.65% | 3,086,967 | $114.2M | New |
| WEX Wex Inc. | 1.64% | 772,113 | $113.4M | Reduce -6.5% |
| CNC Centene Corp. | 1.57% | 2,011,797 | $109.2M | Reduce -10.0% |
| AMCR Amcor PLC | 1.55% | 11,719,437 | $107.7M | Add +8325.2% |
| AMG Affiliated Managers Group | 1.53% | 539,040 | $106.1M | Reduce -11.1% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 1.44% | 1,713,170 | $100.2M | Reduce -11.0% |
| LEA Lear Corp. | 1.37% | 998,304 | $94.8M | Reduce -5.8% |
| CNXC Concentrix Corp. | 0.89% | 1,173,702 | $62.0M | Reduce -6.5% |
| ADNT Adient PLC | 0.25% | 903,446 | $17.6M | Reduce -11.0% |
| CCK Crown Holdings Inc. | 0.10% | 64,312 | $6.6M | Add +2.3% |
| NXPI NXP Semiconductors NV | 0.08% | 26,765 | $5.8M | Add +1.7% |
| APTV Aptiv PLC | 0.08% | 85,700 | $5.8M | Add +2.8% |
| NTDOY Nintendo Co. Ltd.-Unspons ADR | 0.07% | 194,077 | $4.7M | Reduce -11.6% |
| IWD iShares Russell 1000 Value E | 0.00% | 1,075 | $209K | New |
Portfolio Sells Q1 2025 → Q2 2025
| BERY Berry Global Group Inc. | Sold out | 0.00% | −1.85 |
| SU Suncor Energy Inc. | Reduce -11.2% | 3.41% | −1.01 |
| GPN Global Payments Inc. | Reduce -6.9% | 1.95% | −0.75 |
| CPAY Corpay Inc. | Reduce -11.0% | 3.08% | −0.75 |
| EXPE Expedia Group Inc. | Reduce -7.8% | 3.88% | −0.54 |
| CNC Centene Corp. | Reduce -10.0% | 1.57% | −0.49 |
| CI The Cigna Group | Reduce -7.7% | 3.52% | −0.48 |
| AIZ Assurant Inc. | Reduce -10.8% | 1.82% | −0.46 |
| PRI Primerica Inc. | Reduce -10.6% | 2.05% | −0.46 |
| WEX Wex Inc. | Reduce -6.5% | 1.64% | −0.34 |
| AMP Ameriprise Financial Inc. | Reduce -8.5% | 5.55% | −0.25 |
| FIS Fidelity National Info Serv | Reduce -8.4% | 4.37% | −0.24 |
| HSIC Henry Schein Inc. | Reduce -10.9% | 1.69% | −0.19 |
| CNXC Concentrix Corp. | Reduce -6.5% | 0.89% | −0.17 |
| EBAY eBay Inc. | Reduce -8.0% | 3.94% | −0.16 |
| FFIV F5 Inc. | Reduce -7.3% | 4.19% | −0.12 |
| CNH CNH Industrial NV | Sold out | 0.00% | −0.12 |
| HCA HCA Healthcare Inc. | Reduce -7.3% | 3.91% | −0.10 |
| GEN Gen Digital Inc. | Reduce -7.1% | 3.36% | −0.08 |
| LEA Lear Corp. | Reduce -5.8% | 1.37% | −0.05 |
| AMG Affiliated Managers Group | Reduce -11.1% | 1.53% | −0.02 |
| NTDOY Nintendo Co. Ltd.-Unspons ADR | Reduce -11.6% | 0.07% | +0.01 |
| WCC Wesco International Inc. | Reduce -10.6% | 1.65% | +0.02 |
| AER Aercap Holdings NV | Reduce -7.5% | 4.74% | +0.02 |
| AL Sumisho Air Lease Corp. | Reduce -11.0% | 1.44% | +0.03 |
| LAD Lithia Motors Inc. | Reduce -6.6% | 2.29% | +0.04 |
| ADNT Adient PLC | Reduce -11.0% | 0.25% | +0.06 |
| ARW Arrow Electronics Inc. | Reduce -7.0% | 2.45% | +0.19 |
| URI United Rentals Inc. | Reduce -8.6% | 5.66% | +0.23 |
| UBER Uber Technologies Inc. | Reduce -11.2% | 3.64% | +0.27 |
| SNX TD Synnex Corp. | Reduce -6.1% | 2.33% | +0.33 |
| JCI Johnson Controls Internation | Reduce -8.1% | 5.27% | +0.69 |
| FLEX Flex Ltd. | Reduce -7.3% | 5.74% | +1.41 |
| NRG NRG Energy Inc. | Reduce -11.9% | 7.28% | +2.11 |
Portfolio Buys Q1 2025 → Q2 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 41 | $7.9B | FLEX, JCI, NRG, FFIV, NTAP |
| Q1 2026 | 39 | $6.6B | FLEX, JCI, NRG, AER, EXPE |
| Q4 2025 | 37 | $7.6B | AMCR, NRG, FLEX, EXPE, JCI |
| Q3 2025 | 38 | $7.1B | NRG, FLEX, JCI, AMP, EXPE |
| Q2 2025 | 38 | $6.9B | NRG, FLEX, URI, AMP, JCI |
| Q1 2025 | 38 | $6.6B | AMP, URI, NRG, AER, FIS |
| Q4 2024 | 38 | $6.8B | AMP, URI, FLEX, FIS, EXPE |
| Q3 2024 | 38 | $6.9B | URI, AMP, FIS, NRG, HCA |
| Q2 2024 | 36 | $6.2B | URI, AMP, FIS, AER, NRG |
| Q1 2024 | 36 | $6.7B | URI, AMP, FIS, CI, AER |