Lyrical Asset Management LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Lyrical Asset Management LP reported 38 stock positions worth $7.1 billion. Its top holding was NRG Energy (NRG) at 7.3% of the portfolio, followed by Flex (FLEX, 6.7%) and Johnson Controls Internation (JCI, 5.5%). Compared with Q2 2025, it opened 1 new position, sold out of 1, added to 35 and reduced 2. The biggest buy was a new position in Netapp (NTAP) and the biggest sale United Rentals (URI, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001542302
- Portfolio Value
- $7.1B (Q3 2025)
- SEC Filing
- 0001062993-25-016651 ↗ filed Nov 12, 2025
Holdings Value
Holdings 38 stocks · $7.1B
| NRG NRG Energy Inc. | 7.28% | 3,190,123 | $516.6M | Add +1.4% |
| FLEX Flex Ltd. | 6.66% | 8,150,488 | $472.5M | Add +2.2% |
| JCI Johnson Controls Internation | 5.48% | 3,533,860 | $388.5M | Add +2.1% |
| AMP Ameriprise Financial Inc. | 5.26% | 759,486 | $373.1M | Add +5.4% |
| EXPE Expedia Group Inc. | 5.09% | 1,688,003 | $360.8M | Add +5.8% |
| AER Aercap Holdings NV | 5.07% | 2,975,634 | $360.1M | Add +5.8% |
| EBAY eBay Inc. | 4.95% | 3,863,652 | $351.4M | Add +5.2% |
| FFIV F5 Inc. | 4.74% | 1,040,174 | $336.2M | Add +5.2% |
| NTAP Netapp Inc. | 4.62% | 2,765,127 | $327.6M | New |
| HCA HCA Healthcare Inc. | 4.52% | 752,469 | $320.7M | Add +6.4% |
| UBER Uber Technologies Inc. | 3.89% | 2,816,035 | $275.9M | Add +4.0% |
| FIS Fidelity National Info Serv | 3.73% | 4,013,390 | $264.6M | Add +7.8% |
| GEN Gen Digital Inc. | 3.42% | 8,544,760 | $242.6M | Add +7.8% |
| CI The Cigna Group | 3.26% | 801,816 | $231.1M | Add +8.5% |
| SNX TD Synnex Corp. | 2.98% | 1,290,281 | $211.3M | Add +8.1% |
| CPAY Corpay Inc. | 2.87% | 705,893 | $203.3M | Add +9.7% |
| ARW Arrow Electronics Inc. | 2.41% | 1,411,682 | $170.8M | Add +5.9% |
| GPN Global Payments Inc. | 2.27% | 1,934,751 | $160.7M | Add +14.3% |
| LAD Lithia Motors Inc. | 2.25% | 504,416 | $159.4M | Add +7.4% |
| PRI Primerica Inc. | 2.21% | 565,165 | $156.9M | Add +8.8% |
| AIZ Assurant Inc. | 2.13% | 698,401 | $151.3M | Add +9.5% |
| WCC Wesco International Inc. | 2.02% | 678,512 | $143.5M | Add +9.7% |
| AMG Affiliated Managers Group | 1.95% | 579,835 | $138.3M | Add +7.6% |
| WEX Wex Inc. | 1.84% | 830,349 | $130.8M | Add +7.5% |
| HSIC Henry Schein Inc. | 1.65% | 1,760,232 | $116.8M | Add +9.7% |
| AMCR Amcor PLC | 1.61% | 13,985,309 | $114.4M | Add +19.3% |
| LEA Lear Corp. | 1.53% | 1,080,574 | $108.7M | Add +8.2% |
| LKQ LKQ Corp. | 1.48% | 3,445,218 | $105.2M | Add +11.6% |
| CNC Centene Corp. | 1.29% | 2,560,074 | $91.3M | Add +27.3% |
| CNXC Concentrix Corp. | 0.83% | 1,278,129 | $59.0M | Add +8.9% |
| ADNT Adient PLC | 0.34% | 1,009,685 | $24.3M | Add +11.8% |
| APTV Aptiv PLC | 0.11% | 89,511 | $7.7M | Add +4.5% |
| CCK Crown Holdings Inc. | 0.09% | 66,764 | $6.4M | Add +3.8% |
| NXPI NXP Semiconductors NV | 0.09% | 27,363 | $6.2M | Add +2.2% |
| NTDOY Nintendo Co. Ltd.-Unspons ADR | 0.07% | 218,261 | $4.7M | Add +12.5% |
| URI United Rentals Inc. | 0.02% | 1,605 | $1.5M | Reduce -99.7% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 0.01% | 6,128 | $390K | Reduce -99.6% |
| IWD iShares Russell 1000 Value E | 0.00% | 1,258 | $256K | Add +17.0% |
Portfolio Sells Q2 2025 → Q3 2025
Portfolio Buys Q2 2025 → Q3 2025
| NTAP Netapp Inc. | New | 4.62% | +4.62 |
| EXPE Expedia Group Inc. | Add +5.8% | 5.09% | +1.20 |
| EBAY eBay Inc. | Add +5.2% | 4.95% | +1.01 |
| FLEX Flex Ltd. | Add +2.2% | 6.66% | +0.92 |
| SNX TD Synnex Corp. | Add +8.1% | 2.98% | +0.64 |
| HCA HCA Healthcare Inc. | Add +6.4% | 4.52% | +0.61 |
| FFIV F5 Inc. | Add +5.2% | 4.74% | +0.54 |
| AMG Affiliated Managers Group | Add +7.6% | 1.95% | +0.42 |
| WCC Wesco International Inc. | Add +9.7% | 2.02% | +0.37 |
| AER Aercap Holdings NV | Add +5.8% | 5.07% | +0.33 |
| AIZ Assurant Inc. | Add +9.5% | 2.13% | +0.32 |
| GPN Global Payments Inc. | Add +14.3% | 2.27% | +0.31 |
| UBER Uber Technologies Inc. | Add +4.0% | 3.89% | +0.25 |
| WEX Wex Inc. | Add +7.5% | 1.84% | +0.21 |
| JCI Johnson Controls Internation | Add +2.1% | 5.48% | +0.21 |
| LEA Lear Corp. | Add +8.2% | 1.53% | +0.17 |
| PRI Primerica Inc. | Add +8.8% | 2.21% | +0.16 |
| ADNT Adient PLC | Add +11.8% | 0.34% | +0.09 |
| AMCR Amcor PLC | Add +19.3% | 1.61% | +0.06 |
| GEN Gen Digital Inc. | Add +7.8% | 3.42% | +0.06 |
| APTV Aptiv PLC | Add +4.5% | 0.11% | +0.02 |
| NXPI NXP Semiconductors NV | Add +2.2% | 0.09% | +0.00 |
| NRG NRG Energy Inc. | Add +1.4% | 7.28% | +0.00 |
| IWD iShares Russell 1000 Value E | Add +17.0% | 0.00% | +0.00 |
| NTDOY Nintendo Co. Ltd.-Unspons ADR | Add +12.5% | 0.07% | −0.00 |
| CCK Crown Holdings Inc. | Add +3.8% | 0.09% | −0.00 |
| LAD Lithia Motors Inc. | Add +7.4% | 2.25% | −0.04 |
| ARW Arrow Electronics Inc. | Add +5.9% | 2.41% | −0.04 |
| HSIC Henry Schein Inc. | Add +9.7% | 1.65% | −0.04 |
| CNXC Concentrix Corp. | Add +8.9% | 0.83% | −0.06 |
| LKQ LKQ Corp. | Add +11.6% | 1.48% | −0.16 |
| CPAY Corpay Inc. | Add +9.7% | 2.87% | −0.21 |
| CI The Cigna Group | Add +8.5% | 3.26% | −0.26 |
| AMP Ameriprise Financial Inc. | Add +5.4% | 5.26% | −0.29 |
| CNC Centene Corp. | Add +27.3% | 1.29% | −0.29 |
| FIS Fidelity National Info Serv | Add +7.8% | 3.73% | −0.64 |
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 |