M.D. Sass, LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), M.D. Sass, LLC reported 32 stock positions worth $845.0 million. Its top holding was Vanguard S&P 500 ETF (VOO) at 10.7% of the portfolio, followed by Liberty Media Class C (FWONK, 6.3%) and Api (APG, 6.2%). Compared with Q4 2023, it opened 5 new positions, sold out of 3, added to 7 and reduced 17. The biggest buy was a new position in Crown (CCK) and the biggest sale an exit from Tko (TKO).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0000922940
Portfolio Value
$845.0M (Q1 2024)
SEC Filing
0001172661-24-002456 ↗ filed May 15, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $845.0M $845.0M Q1 2024 Q2 2024: $1.2B Q2 2024 Q3 2024: $1.3B Q3 2024 Q4 2024: $1.3B Q4 2024 Q1 2025: $1.1B Q1 2025 Q2 2025: $1.2B Q2 2025 Q3 2025: $1.2B Q3 2025 Q4 2025: $1.3B Q4 2025 Q1 2026: $1.3B Q1 2026 Q2 2026: $1.5B Q2 2026

Holdings 32 stocks · $845.0M
VOO Vanguard S&P 500 ETF 10.70% 188,088 $90.4M Add +14.3%
FWONK Liberty Media Corp. Class C 6.31% 813,046 $53.3M Add +7.1%
APG Api Group Corp. 6.22% 1,338,413 $52.6M Reduce -3.1%
CACI Caci International Inc. Class A 5.38% 120,097 $45.5M Reduce -14.5%
CLH Clean Harbors Inc. 5.36% 225,168 $45.3M Reduce -0.6%
LW Lamb Weston Holdings Inc. 5.11% 404,967 $43.1M Add +79.5%
SBAC SBA Communications Corp. 5.09% 198,524 $43.0M Add +267.3%
CCK Crown Holdings Inc. 4.89% 521,286 $41.3M New
CRL Charles River Laboratories 4.79% 149,453 $40.5M Reduce -17.5%
JBL Jabil Inc. 4.48% 282,917 $37.9M Add +25.3%
CBRE CBRE Group Inc. Class A 3.94% 342,150 $33.3M Add +2.3%
CHE Chemed Corp. 3.88% 51,108 $32.8M Reduce -10.4%
DHR Danaher Corp. 3.65% 123,453 $30.8M Reduce -7.4%
ON On Semiconductor 2.96% 340,049 $25.0M Reduce -5.5%
DG Dollar General Corp. 2.86% 154,804 $24.2M New
OWL Blue Owl Capital Inc. 2.79% 1,252,083 $23.6M Reduce -52.4%
WMG Warner Music Group Corp. Class A 2.79% 714,161 $23.6M Reduce -26.7%
WAB Wabtec Corp. 2.70% 156,738 $22.8M Reduce -51.0%
COR Cencora Inc. 2.54% 88,246 $21.4M Reduce -32.0%
TGT Target Corp. 2.23% 106,434 $18.9M New
APD Air Products & Chemicals Inc. 2.13% 74,149 $18.0M New
RTX RTX Corp. 2.09% 180,850 $17.6M Reduce -1.5%
WD Walker & Dunlop Inc. 1.72% 143,535 $14.5M Reduce -23.9%
PANW Palo Alto Networks Inc. 1.64% 48,808 $13.9M Reduce -6.8%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 1.26% 137,300 $10.7M Reduce -48.6%
AMZN Amazon.com Inc. 0.86% 40,165 $7.2M Add +2.8%
SPY SS SPDR S&P 500 ETF Trust-US 0.59% 9,520 $5.0M No change
MSFT Microsoft Corp. 0.33% 6,608 $2.8M Reduce -21.0%
ACWX iShares MSCI Acwi Ex US ETF 0.27% 43,100 $2.3M No change
OPCH Option Care Health Inc. 0.15% 36,913 $1.2M No change
PROSHARES TR 0.14% 115,000 $1.2M New
NVDA Nvidia Corp. 0.14% 1,330 $1.2M Reduce -19.4%

Options reported separately and not counted above: SPY puts ($26.2M), HYG puts ($15.5M).

Portfolio Sells Q4 2023 → Q1 2024
TKO Tko Group Holdings Inc. Sold out 0.00% −6.19
WAB Wabtec Corp. Reduce -51.0% 2.70% −2.54
OWL Blue Owl Capital Inc. Reduce -52.4% 2.79% −2.27
WMG Warner Music Group Corp. Class A Reduce -26.7% 2.79% −1.72
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -48.6% 1.26% −1.41
WD Walker & Dunlop Inc. Reduce -23.9% 1.72% −0.99
ON On Semiconductor Reduce -5.5% 2.96% −0.93
COR Cencora Inc. Reduce -32.0% 2.54% −0.91
CRL Charles River Laboratories Reduce -17.5% 4.79% −0.75
BIL SS SPDR BB 1-3M T-Bill ETF Sold out 0.00% −0.69
CACI Caci International Inc. Class A Reduce -14.5% 5.38% −0.49
CHE Chemed Corp. Reduce -10.4% 3.88% −0.43
PANW Palo Alto Networks Inc. Reduce -6.8% 1.64% −0.35
DHR Danaher Corp. Reduce -7.4% 3.65% −0.34
ZBRA Zebra Technologies Corp. Class A Sold out 0.00% −0.11
MSFT Microsoft Corp. Reduce -21.0% 0.33% −0.08
NVDA Nvidia Corp. Reduce -19.4% 0.14% +0.04
APG Api Group Corp. Reduce -3.1% 6.22% +0.04
RTX RTX Corp. Reduce -1.5% 2.09% +0.09
CLH Clean Harbors Inc. Reduce -0.6% 5.36% +0.26

Portfolio Buys Q4 2023 → Q1 2024
CCK Crown Holdings Inc. New 4.89% +4.89
SBAC SBA Communications Corp. Add +267.3% 5.09% +3.32
DG Dollar General Corp. New 2.86% +2.86
TGT Target Corp. New 2.23% +2.23
APD Air Products & Chemicals Inc. New 2.13% +2.13
LW Lamb Weston Holdings Inc. Add +79.5% 5.11% +1.95
VOO Vanguard S&P 500 ETF Add +14.3% 10.70% +1.41
JBL Jabil Inc. Add +25.3% 4.48% +0.77
PROSHARES TR New 0.14% +0.14
FWONK Liberty Media Corp. Class C Add +7.1% 6.31% +0.11
AMZN Amazon.com Inc. Add +2.8% 0.86% +0.09
CBRE CBRE Group Inc. Class A Add +2.3% 3.94% −0.09

Options Activity Q4 2023 → Q1 2024
SPY SS SPDR S&P 500 ETF Trust-US put New 50,000 $26.2M
HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Reduce -73.3% 200,000 $15.5M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 38$1.5BHSIC, AMZN, WMB, CLH, AME
Q1 2026 36$1.3BHSIC, WMB, AME, CLH, SASS
Q4 2025 35$1.3BHSIC, WMB, CLH, AME, APG
Q3 2025 34$1.2BHSIC, WMB, DHR, AME, APG
Q2 2025 35$1.2BPRMB, HSIC, CLH, AME, DHR
Q1 2025 32$1.1BAPH, CLH, APG, WELL, DHR
Q4 2024 33$1.3BAPG, CRL, VOO, MRVL, AME
Q3 2024 34$1.3BFWONK, CCK, CACI, CLH, VOO
Q2 2024 32$1.2BFWONK, CACI, APG, CLH, VOO
Q1 2024 32$845.0MVOO, FWONK, APG, CACI, CLH