M.D. Sass, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), M.D. Sass, LLC reported 35 stock positions worth $1.2 billion. Its top holding was Primo Brands (PRMB) at 6.4% of the portfolio, followed by Henry Schein (HSIC, 6.4%) and Clean Harbors (CLH, 6.1%). Compared with Q1 2025, it opened 8 new positions, sold out of 5, added to 13 and reduced 13. The biggest buy was a new position in Primo Brands (PRMB) and the biggest sale an exit from Jabil (JBL).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0000922940
- Portfolio Value
- $1.2B (Q2 2025)
- SEC Filing
- 0001172661-25-003127 ↗ filed Aug 13, 2025
Holdings Value
Holdings 35 stocks · $1.2B
| PRMB Primo Brands Corp. | 6.38% | 2,673,905 | $79.2M | New |
| HSIC Henry Schein Inc. | 6.38% | 1,084,196 | $79.2M | New |
| CLH Clean Harbors Inc. | 6.12% | 328,869 | $76.0M | Reduce -5.3% |
| AME Ametek Inc. | 5.84% | 400,881 | $72.5M | Add +9.2% |
| DHR Danaher Corp. | 5.67% | 356,654 | $70.5M | Add +13.8% |
| MLM Martin Marietta Materials | 5.44% | 123,032 | $67.5M | Reduce -1.1% |
| WELL Welltower Inc. | 5.25% | 424,588 | $65.3M | Add +0.6% |
| WMB Williams Cos Inc. | 5.18% | 1,024,833 | $64.4M | Add +4.5% |
| ICE Intercontinental Exchange Inc. | 5.07% | 343,433 | $63.0M | Reduce -4.6% |
| CP Canadian Pacific Kansas City | 4.98% | 781,235 | $61.9M | Reduce -8.8% |
| PWR Quanta Services Inc. | 4.95% | 162,776 | $61.5M | Reduce -21.5% |
| APH Amphenol Corp. Class A | 4.81% | 604,798 | $59.7M | Reduce -42.1% |
| FWONK Liberty Media Corp. Class C | 4.49% | 534,126 | $55.8M | Add +6.2% |
| CBRE CBRE Group Inc. Class A | 4.47% | 396,569 | $55.6M | Add +5.1% |
| COF Capital One Financial Corp. | 4.05% | 236,269 | $50.3M | Reduce -3.0% |
| APG Api Group Corp. | 3.94% | 1,437,717 | $48.9M | Reduce -20.6% |
| AON Aon PLC Class A | 3.19% | 111,005 | $39.6M | Reduce -21.0% |
| SLM SLM Corp. | 3.03% | 1,149,210 | $37.7M | Reduce -9.6% |
| SGI Somnigroup International Inc. | 2.36% | 430,296 | $29.3M | New |
| CCK Crown Holdings Inc. | 2.35% | 283,658 | $29.2M | Reduce -0.8% |
| IWD iShares Russell 1000 Value E | 0.94% | 60,000 | $11.7M | Add +3.0% |
| AMZN Amazon.com Inc. | 0.74% | 42,019 | $9.2M | Add +14.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.64% | 12,790 | $7.9M | Add +16.5% |
| MRVL Marvell Technology Inc. | 0.52% | 83,433 | $6.5M | New |
| EQH Equitable Holdings Inc. | 0.51% | 112,423 | $6.3M | Reduce -83.9% |
| PANW Palo Alto Networks Inc. | 0.46% | 27,712 | $5.7M | No change |
| CACI Caci International Inc. Class A | 0.37% | 9,552 | $4.6M | Add +53.1% |
| OWL Blue Owl Capital Inc. | 0.36% | 234,945 | $4.5M | Add +30.1% |
| MSFT Microsoft Corp. | 0.34% | 8,544 | $4.2M | Add +0.3% |
| CDNS Cadence Design SYS Inc. | 0.32% | 12,880 | $4.0M | New |
| ACWX iShares MSCI Acwi Ex US ETF | 0.31% | 62,260 | $3.8M | Add +0.8% |
| GWRE Guidewire Software Inc. | 0.23% | 12,353 | $2.9M | New |
| IBIT iShares Bitcoin Trust ETF | 0.17% | 34,631 | $2.1M | New |
| GOOGL Alphabet Inc. Class A | 0.10% | 6,789 | $1.2M | Reduce -36.5% |
| FICO Fair Isaac Corp. | 0.05% | 362 | $662K | New |
Portfolio Sells Q1 2025 → Q2 2025
| JBL Jabil Inc. | Sold out | 0.00% | −3.13 |
| EQH Equitable Holdings Inc. | Reduce -83.9% | 0.51% | −2.70 |
| JPM JPMorgan Chase & Co. | Sold out | 0.00% | −2.34 |
| WD Walker & Dunlop Inc. | Sold out | 0.00% | −1.90 |
| VOO Vanguard S&P 500 ETF | Sold out | 0.00% | −1.85 |
| APG Api Group Corp. | Reduce -20.6% | 3.94% | −1.76 |
| AON Aon PLC Class A | Reduce -21.0% | 3.19% | −1.75 |
| APH Amphenol Corp. Class A | Reduce -42.1% | 4.81% | −1.23 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −0.70 |
| ICE Intercontinental Exchange Inc. | Reduce -4.6% | 5.07% | −0.39 |
| CP Canadian Pacific Kansas City | Reduce -8.8% | 4.98% | −0.31 |
| SLM SLM Corp. | Reduce -9.6% | 3.03% | −0.25 |
| GOOGL Alphabet Inc. Class A | Reduce -36.5% | 0.10% | −0.05 |
| CLH Clean Harbors Inc. | Reduce -5.3% | 6.12% | +0.09 |
| CCK Crown Holdings Inc. | Reduce -0.8% | 2.35% | +0.11 |
| COF Capital One Financial Corp. | Reduce -3.0% | 4.05% | +0.20 |
| MLM Martin Marietta Materials | Reduce -1.1% | 5.44% | +0.20 |
| PWR Quanta Services Inc. | Reduce -21.5% | 4.95% | +0.31 |
Portfolio Buys Q1 2025 → Q2 2025
| PRMB Primo Brands Corp. | New | 6.38% | +6.38 |
| HSIC Henry Schein Inc. | New | 6.38% | +6.38 |
| SGI Somnigroup International Inc. | New | 2.36% | +2.36 |
| MRVL Marvell Technology Inc. | New | 0.52% | +0.52 |
| FWONK Liberty Media Corp. Class C | Add +6.2% | 4.49% | +0.51 |
| CDNS Cadence Design SYS Inc. | New | 0.32% | +0.32 |
| AME Ametek Inc. | Add +9.2% | 5.84% | +0.28 |
| GWRE Guidewire Software Inc. | New | 0.23% | +0.23 |
| IBIT iShares Bitcoin Trust ETF | New | 0.17% | +0.17 |
| CACI Caci International Inc. Class A | Add +53.1% | 0.37% | +0.17 |
| CBRE CBRE Group Inc. Class A | Add +5.1% | 4.47% | +0.13 |
| AMZN Amazon.com Inc. | Add +14.3% | 0.74% | +0.13 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +16.5% | 0.64% | +0.10 |
| MSFT Microsoft Corp. | Add +0.3% | 0.34% | +0.06 |
| FICO Fair Isaac Corp. | New | 0.05% | +0.05 |
| OWL Blue Owl Capital Inc. | Add +30.1% | 0.36% | +0.04 |
| WMB Williams Cos Inc. | Add +4.5% | 5.18% | +0.02 |
| DHR Danaher Corp. | Add +13.8% | 5.67% | +0.02 |
| ACWX iShares MSCI Acwi Ex US ETF | Add +0.8% | 0.31% | +0.00 |
| IWD iShares Russell 1000 Value E | Add +3.0% | 0.94% | −0.03 |
| WELL Welltower Inc. | Add +0.6% | 5.25% | −0.44 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 38 | $1.5B | HSIC, AMZN, WMB, CLH, AME |
| Q1 2026 | 36 | $1.3B | HSIC, WMB, AME, CLH, SASS |
| Q4 2025 | 35 | $1.3B | HSIC, WMB, CLH, AME, APG |
| Q3 2025 | 34 | $1.2B | HSIC, WMB, DHR, AME, APG |
| Q2 2025 | 35 | $1.2B | PRMB, HSIC, CLH, AME, DHR |
| Q1 2025 | 32 | $1.1B | APH, CLH, APG, WELL, DHR |
| Q4 2024 | 33 | $1.3B | APG, CRL, VOO, MRVL, AME |
| Q3 2024 | 34 | $1.3B | FWONK, CCK, CACI, CLH, VOO |
| Q2 2024 | 32 | $1.2B | FWONK, CACI, APG, CLH, VOO |
| Q1 2024 | 32 | $845.0M | VOO, FWONK, APG, CACI, CLH |