Martingale Asset Management L P
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Martingale Asset Management L P reported 770 stock positions worth $3.9 billion. Its top holding was Apple (AAPL) at 1.5% of the portfolio, followed by Alphabet Class A (GOOGL, 1.4%) and Microsoft (MSFT, 1.3%). Compared with Q3 2025, it opened 97 new positions, sold out of 83, added to 289 and reduced 355. The biggest buy was TJX Companies (TJX, shares +765%) and the biggest sale Curtiss-Wright (CW, shares −94%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0000936944
- Portfolio Value
- $3.9B (Q4 2025)
- SEC Filing
- 0000936944-26-000002 ↗ filed Feb 13, 2026
Holdings Value
Holdings 770 stocks · $3.9B
| AAPL Apple Inc. | 1.50% | 217,071 | $59.0M | Add +1.6% |
| GOOGL Alphabet Inc. Class A | 1.35% | 170,185 | $53.3M | Reduce -29.1% |
| MSFT Microsoft Corp. | 1.33% | 108,149 | $52.3M | Reduce -2.0% |
| AMZN Amazon.com Inc. | 1.33% | 225,902 | $52.1M | Reduce -2.6% |
| JNJ Johnson & Johnson | 1.20% | 227,410 | $47.1M | Reduce -3.9% |
| JPM JPMorgan Chase & Co. | 1.12% | 137,172 | $44.2M | Reduce -4.3% |
| LLY Eli Lilly & Co. | 1.11% | 40,469 | $43.5M | Add +10.0% |
| CSCO Cisco Systems Inc. | 1.07% | 548,459 | $42.2M | Reduce -4.2% |
| META Meta Platforms Inc. Class A | 1.07% | 63,796 | $42.1M | Add +3.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.06% | 82,605 | $41.5M | Reduce -2.6% |
| V Visa Inc. Class A | 1.00% | 111,681 | $39.2M | Reduce -2.9% |
| XOM Exxon Mobil Corp. | 0.96% | 315,403 | $38.0M | Reduce -9.6% |
| WMT Walmart Inc. | 0.96% | 340,650 | $38.0M | Reduce -5.2% |
| NVDA Nvidia Corp. | 0.94% | 197,594 | $36.9M | Add +28.3% |
| MA Mastercard Inc. Class A | 0.93% | 63,808 | $36.4M | Reduce -2.3% |
| T AT&T Inc. | 0.92% | 1,463,717 | $36.4M | Reduce -1.2% |
| ABBV Abbvie Inc. | 0.92% | 158,554 | $36.2M | Add +3.4% |
| CRM Salesforce Inc. | 0.90% | 133,351 | $35.3M | Reduce -1.0% |
| AXP American Express Co. | 0.88% | 93,175 | $34.5M | Reduce -8.2% |
| MRK Merck & Co. Inc. | 0.87% | 323,799 | $34.1M | Reduce -10.0% |
| COST Costco Wholesale Corp. | 0.83% | 37,992 | $32.8M | Reduce -3.1% |
| NEM Newmont Corp. | 0.82% | 323,748 | $32.3M | Reduce -17.6% |
| PG The Procter & Gamble Co. | 0.81% | 222,081 | $31.8M | Add +8.9% |
| PM Philip Morris International | 0.80% | 197,193 | $31.6M | Reduce -9.5% |
| ADBE Adobe Inc. | 0.78% | 87,861 | $30.8M | Add +1.3% |
| INTU Intuit Inc. | 0.77% | 45,932 | $30.4M | Reduce -2.5% |
| HD Home Depot Inc. | 0.76% | 87,378 | $30.1M | Reduce -1.8% |
| GE General Electric filed as GE AEROSPACE | 0.75% | 96,124 | $29.6M | Add +4.9% |
| BMY Bristol-Myers Squibb Co. | 0.75% | 546,873 | $29.5M | Add +13.4% |
| RTX RTX Corp. | 0.72% | 155,172 | $28.5M | Reduce -2.7% |
| VZ Verizon Communications Inc. | 0.72% | 695,382 | $28.3M | Reduce -17.0% |
| TRV The Travelers Cos Inc. | 0.72% | 97,439 | $28.3M | Add +5.4% |
| MO Altria Group Inc. | 0.72% | 489,922 | $28.2M | Reduce -1.4% |
| AU Anglogold Ashanti PLC | 0.70% | 324,483 | $27.7M | Reduce -5.4% |
| GD General Dynamics Corp. | 0.70% | 81,907 | $27.6M | Add +1.7% |
| HIG Hartford Insurance Group Inc. | 0.70% | 198,736 | $27.4M | Add +2.8% |
| SCHW Schwab (charles) Corp. | 0.69% | 271,181 | $27.1M | Reduce -6.1% |
| CVX Chevron Corp. | 0.67% | 173,959 | $26.5M | Add +2.0% |
| ALL Allstate Corp. | 0.67% | 126,989 | $26.4M | Reduce -0.6% |
| PEP Pepsico Inc. | 0.66% | 180,125 | $25.9M | Add +1.0% |
| KR Kroger Co. | 0.64% | 405,958 | $25.4M | Add +0.2% |
| QCOM Qualcomm Inc. | 0.64% | 147,960 | $25.3M | Add +3.7% |
| NOC Northrop Grumman Corp. | 0.64% | 44,244 | $25.2M | Reduce -1.4% |
| LMT Lockheed Martin Corp. | 0.64% | 52,085 | $25.2M | Reduce -1.0% |
| MCK McKesson Corp. | 0.63% | 30,205 | $24.8M | Reduce -5.6% |
| ABT Abbott Laboratories | 0.62% | 195,844 | $24.5M | Reduce -6.8% |
| MCD McDonald's Corp. | 0.61% | 78,653 | $24.0M | Add +6.3% |
| GILD Gilead Sciences Inc. | 0.61% | 193,921 | $23.8M | Add +12.2% |
| TMUS T-Mobile US Inc. | 0.60% | 115,741 | $23.5M | Reduce -9.8% |
| COF Capital One Financial Corp. | 0.59% | 96,531 | $23.4M | Add +21.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.59% | 203,970 | $23.2M | Add +60.5% |
| AVGO Broadcom Inc. | 0.58% | 66,466 | $23.0M | Add +25.0% |
| ED Consolidated Edison Inc. | 0.58% | 230,097 | $22.9M | Reduce -0.1% |
| EXC Exelon Corp. | 0.58% | 523,740 | $22.8M | Reduce -1.2% |
| DTE DTE Energy Company | 0.57% | 174,218 | $22.5M | Add +1.2% |
| VLO Valero Energy Corp. | 0.57% | 137,975 | $22.5M | Add +75.4% |
| AMP Ameriprise Financial Inc. | 0.57% | 45,484 | $22.3M | Add +70.2% |
| CB Chubb Ltd. | 0.57% | 71,395 | $22.3M | Reduce -1.6% |
| ZM Zoom Communications Inc. | 0.57% | 257,748 | $22.2M | Reduce -0.7% |
| PGR Progressive Corp. | 0.56% | 97,513 | $22.2M | Add +2.6% |
| CAH Cardinal Health Inc. | 0.56% | 106,415 | $21.9M | Reduce -10.1% |
| LNG Cheniere Energy Inc. | 0.55% | 110,668 | $21.5M | Add +21.0% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.54% | 139,474 | $21.4M | Add +765.1% |
| WM Waste Management Inc. | 0.52% | 93,300 | $20.5M | Reduce -17.7% |
| MPC Marathon Petroleum Corp. | 0.51% | 124,244 | $20.2M | Add +22.5% |
| AMGN Amgen Inc. | 0.51% | 61,046 | $20.0M | Add +0.7% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.51% | 171,304 | $19.9M | Reduce -29.3% |
| ADSK Autodesk Inc. | 0.50% | 66,582 | $19.7M | Add +12.2% |
| VRTX Vertex Pharmaceuticals Inc. | 0.50% | 43,221 | $19.6M | Add +18.3% |
| EG Everest Group Ltd. | 0.49% | 57,188 | $19.4M | Reduce -1.8% |
| MSI Motorola Solutions Inc. | 0.49% | 50,344 | $19.3M | Add +3.0% |
| AEP American Electric Power | 0.48% | 164,802 | $19.0M | Reduce -2.8% |
| INGR Ingredion Inc. | 0.48% | 170,531 | $18.8M | Add +2.8% |
| CASY Casey's General Stores Inc. | 0.48% | 33,807 | $18.7M | Reduce -0.9% |
| ROP Roper Technologies Inc. | 0.46% | 40,725 | $18.1M | Reduce -2.6% |
| ETR Entergy Corp. | 0.46% | 194,111 | $17.9M | Reduce -1.0% |
| L Loews Corp. | 0.45% | 167,089 | $17.6M | Reduce -1.2% |
| KMB Kimberly-Clark Corp. | 0.45% | 174,060 | $17.6M | Reduce -6.7% |
| MLI Mueller Industries Inc. | 0.44% | 151,552 | $17.4M | Add +67.1% |
| KO The Coca-Cola Co. | 0.44% | 248,720 | $17.4M | Add +46.3% |
| PH Parker Hannifin Corp. | 0.44% | 19,497 | $17.1M | Reduce -3.5% |
| MKL Markel Group Inc. | 0.43% | 7,948 | $17.1M | Reduce -22.1% |
| RSG Republic Services Inc. | 0.43% | 79,850 | $16.9M | Reduce -23.2% |
| PEG Public Service Enterprise GP | 0.43% | 210,154 | $16.9M | Add +85.0% |
| CL Colgate-Palmolive Co. | 0.43% | 211,793 | $16.7M | Reduce -0.6% |
| DUK Duke Energy Corp. | 0.42% | 141,548 | $16.6M | Add +42.8% |
| LHX L3HARRIS Technologies Inc. | 0.42% | 55,886 | $16.4M | Add +3.8% |
| TXT Textron Inc. | 0.41% | 187,214 | $16.3M | Add +3.6% |
| DLB Dolby Laboratories Inc. Class A | 0.41% | 250,676 | $16.1M | Add +2.7% |
| TSN Tyson Foods Inc. Class A | 0.41% | 272,406 | $16.0M | Reduce -0.3% |
| BPOP Popular Inc. | 0.40% | 125,143 | $15.6M | Reduce -19.4% |
| HII Huntington Ingalls Industrie | 0.40% | 45,782 | $15.6M | Add +29.5% |
| INCY Incyte Corp. | 0.40% | 157,614 | $15.6M | Add +161.0% |
| NRG NRG Energy Inc. | 0.39% | 96,984 | $15.4M | Add +50.9% |
| EOG EOG Resources Inc. | 0.39% | 145,483 | $15.3M | Reduce -6.2% |
| AEE Ameren Corporation | 0.38% | 150,339 | $15.0M | Add +1.3% |
| OGE Oge Energy Corp. | 0.38% | 348,991 | $14.9M | Reduce -1.0% |
| THG Hanover Insurance Group Inc./ | 0.37% | 78,747 | $14.4M | Add +1.2% |
| EME Emcor Group Inc. | 0.37% | 23,525 | $14.4M | Reduce -15.6% |
| NOW ServiceNow Inc. | 0.36% | 92,180 | $14.1M | Add +22.0% |
Portfolio Sells Q3 2025 → Q4 2025
| CW Curtiss-Wright Corp. | Reduce -93.6% | 0.04% | −0.61 |
| EA Electronic Arts Inc. | Sold out | 0.00% | −0.59 |
| TXRH Texas Roadhouse Inc. | Reduce -89.8% | 0.05% | −0.40 |
| DOX Amdocs Ltd. | Reduce -67.3% | 0.14% | −0.30 |
| SEIC Sei Investments Company | Reduce -60.5% | 0.18% | −0.28 |
| ORCL Oracle Corp. | Reduce -78.4% | 0.05% | −0.26 |
| ADP Automatic Data Processing | Reduce -31.6% | 0.34% | −0.22 |
| XEL Xcel Energy Inc. | Reduce -93.8% | 0.01% | −0.22 |
| NFLX Netflix Inc. | Reduce -24.4% | 0.31% | −0.21 |
| VZ Verizon Communications Inc. | Reduce -17.0% | 0.72% | −0.21 |
| MRSH Marsh & McLennan Cos | Sold out | 0.00% | −0.20 |
| CBOE Cboe Global Markets Inc. | Reduce -46.2% | 0.23% | −0.18 |
| TMUS T-Mobile US Inc. | Reduce -9.8% | 0.60% | −0.18 |
| RSG Republic Services Inc. | Reduce -23.2% | 0.43% | −0.17 |
| BNY Bank of New York Mellon Corp. | Reduce -29.3% | 0.51% | −0.16 |
| CPNG Coupang Inc. | Reduce -73.5% | 0.04% | −0.16 |
| NEU Newmarket Corp. | Reduce -54.9% | 0.09% | −0.15 |
| EHC Encompass Health Corp. | Reduce -88.1% | 0.02% | −0.15 |
| RGLD Royal Gold Inc. | Reduce -54.1% | 0.15% | −0.15 |
| HD Home Depot Inc. | Reduce -1.8% | 0.76% | −0.14 |
| KMB Kimberly-Clark Corp. | Reduce -6.7% | 0.45% | −0.14 |
| T AT&T Inc. | Reduce -1.2% | 0.92% | −0.13 |
| FFIV F5 Inc. | Reduce -8.4% | 0.33% | −0.12 |
| IBKR Interactive Brokers Gro Class A | Reduce -49.7% | 0.11% | −0.12 |
| GOOGL Alphabet Inc. Class A | Reduce -29.1% | 1.35% | −0.11 |
| WM Waste Management Inc. | Reduce -17.7% | 0.52% | −0.11 |
| MSFT Microsoft Corp. | Reduce -2.0% | 1.33% | −0.11 |
| MO Altria Group Inc. | Reduce -1.4% | 0.72% | −0.11 |
| PPL PPL Corp. | Reduce -36.6% | 0.16% | −0.10 |
| LOPE Grand Canyon Education Inc. | Reduce -82.4% | 0.02% | −0.10 |
| BPOP Popular Inc. | Reduce -19.4% | 0.40% | −0.10 |
| CVLT Commvault Systems Inc. | Sold out | 0.00% | −0.10 |
| CMCSA Comcast Corp. Class A | Reduce -19.8% | 0.32% | −0.09 |
| CTAS Cintas Corp. | Sold out | 0.00% | −0.09 |
| EME Emcor Group Inc. | Reduce -15.6% | 0.37% | −0.09 |
| BWXT BWX Technologies Inc. | Reduce -33.8% | 0.14% | −0.09 |
| PM Philip Morris International | Reduce -9.5% | 0.80% | −0.09 |
| ABT Abbott Laboratories | Reduce -6.8% | 0.62% | −0.08 |
| ACN Accenture PLC Class A | Reduce -28.2% | 0.31% | −0.08 |
| COST Costco Wholesale Corp. | Reduce -3.1% | 0.83% | −0.08 |
| SYY Sysco Corp. | Reduce -43.7% | 0.08% | −0.08 |
| ARW Arrow Electronics Inc. | Sold out | 0.00% | −0.08 |
| ZTS Zoetis Inc. | Reduce -14.5% | 0.22% | −0.07 |
| HSII Heidrick & Struggles Intl | Sold out | 0.00% | −0.07 |
| NWBI Northwest Bancshares Inc. | Sold out | 0.00% | −0.07 |
| TDY Teledyne Technologies Inc. | Reduce -8.9% | 0.28% | −0.07 |
| PCH Potlatchdeltic Corp. | Sold out | 0.00% | −0.07 |
| ROP Roper Technologies Inc. | Reduce -2.6% | 0.46% | −0.06 |
| PEGA Pegasystems Inc. | Reduce -46.3% | 0.08% | −0.06 |
| CNA Cna Financial Corp. | Reduce -78.1% | 0.02% | −0.06 |
Portfolio Buys Q3 2025 → Q4 2025
| TJX TJX Companies Inc. | Add +765.1% | 0.54% | +0.49 |
| LLY Eli Lilly & Co. | Add +10.0% | 1.11% | +0.40 |
| INCY Incyte Corp. | Add +161.0% | 0.40% | +0.27 |
| AMP Ameriprise Financial Inc. | Add +70.2% | 0.57% | +0.24 |
| VLO Valero Energy Corp. | Add +75.4% | 0.57% | +0.23 |
| DIS The Walt Disney Co. | Add +60.5% | 0.59% | +0.22 |
| NVDA Nvidia Corp. | Add +28.3% | 0.94% | +0.21 |
| MLI Mueller Industries Inc. | Add +67.1% | 0.44% | +0.21 |
| BMY Bristol-Myers Squibb Co. | Add +13.4% | 0.75% | +0.20 |
| SFD Smithfield Foods Inc. | New | 0.20% | +0.20 |
| REGN Regeneron Pharmaceuticals | New | 0.19% | +0.19 |
| PEG Public Service Enterprise GP | Add +85.0% | 0.43% | +0.19 |
| APH Amphenol Corp. Class A | Add +150.4% | 0.30% | +0.19 |
| LRCX Lam Research Corp. | Add +391.4% | 0.21% | +0.18 |
| COF Capital One Financial Corp. | Add +21.6% | 0.59% | +0.17 |
| KO The Coca-Cola Co. | Add +46.3% | 0.44% | +0.16 |
| HWM Howmet Aerospace Inc. | Add +304.3% | 0.19% | +0.15 |
| AVGO Broadcom Inc. | Add +25.0% | 0.58% | +0.14 |
| HII Huntington Ingalls Industrie | Add +29.5% | 0.40% | +0.14 |
| VRTX Vertex Pharmaceuticals Inc. | Add +18.3% | 0.50% | +0.14 |
| FDX FedEx Corp. | New | 0.14% | +0.14 |
| AAPL Apple Inc. | Add +1.6% | 1.50% | +0.13 |
| NRG NRG Energy Inc. | Add +50.9% | 0.39% | +0.13 |
| GILD Gilead Sciences Inc. | Add +12.2% | 0.61% | +0.12 |
| ANET Arista Networks Inc. | Add +917.9% | 0.13% | +0.12 |
| MNST Monster Beverage Corp. | Add +200.1% | 0.16% | +0.12 |
| DUK Duke Energy Corp. | Add +42.8% | 0.42% | +0.11 |
| GM General Motors Co. | Add +807.5% | 0.11% | +0.10 |
| AIT Applied Industrial Tech Inc. | Add +228.3% | 0.15% | +0.10 |
| HST Host Hotels & Resorts Inc. | Add +1272.8% | 0.11% | +0.10 |
| RNR Renaissancere Holdings Ltd. | Add +28.4% | 0.33% | +0.10 |
| JXN Jackson Financial Inc. Class A | Add +175.8% | 0.15% | +0.10 |
| ISRG Intuitive Surgical Inc. | New | 0.09% | +0.09 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 0.09% | +0.09 |
| AMGN Amgen Inc. | Add +0.7% | 0.51% | +0.08 |
| AYI Acuity Inc. | Add +82.5% | 0.16% | +0.08 |
| SWX Southwest Gas Holdings Inc. | New | 0.07% | +0.07 |
| TRV The Travelers Cos Inc. | Add +5.4% | 0.72% | +0.07 |
| FE Firstenergy Corp. | Add +628.6% | 0.08% | +0.07 |
| HLIT Harmonic Inc. | New | 0.07% | +0.07 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Add +12.6% | 0.16% | +0.06 |
| GE General Electric | Add +4.9% | 0.75% | +0.06 |
| TRGP Targa Resources Corp. | Add +98.4% | 0.11% | +0.06 |
| INDV Indivior Ltd. | Add +32.5% | 0.12% | +0.06 |
| FLEX Flex Ltd. | New | 0.06% | +0.06 |
| TSLA Tesla Inc. | Add +481.5% | 0.07% | +0.06 |
| POR Portland General Electric Co. | Add +46.2% | 0.14% | +0.05 |
| LOW Lowe's Cos Inc. | Add +26.9% | 0.29% | +0.05 |
| HIG Hartford Insurance Group Inc. | Add +2.8% | 0.70% | +0.05 |
| STNG Scorpio Tankers Inc. | New | 0.05% | +0.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 828 | $4.2B | AAPL, GOOGL, AMZN, LLY, NVDA |
| Q1 2026 | 794 | $4.0B | AAPL, JNJ, XOM, GOOGL, MSFT |
| Q4 2025 | 770 | $3.9B | AAPL, GOOGL, MSFT, AMZN, JNJ |
| Q3 2025 | 756 | $4.0B | GOOGL, MSFT, AAPL, AMZN, META |
| Q2 2025 | 779 | $4.1B | MSFT, AMZN, GOOGL, META, BRK.B |
| Q1 2025 | 766 | $3.9B | BRK.B, MSFT, T, AMZN, AAPL |
| Q4 2024 | 756 | $4.1B | GOOGL, AMZN, AAPL, MSFT, BRK.B |
| Q3 2024 | 784 | $4.4B | AAPL, MSFT, GOOGL, BRK.B, LLY |
| Q2 2024 | 781 | $4.6B | GOOGL, MSFT, AAPL, LLY, AMZN |
| Q1 2024 | 800 | $5.0B | MSFT, GOOGL, LLY, BRK.B, MRK |