Primecap Management Co.

Q2 2026Q1 2026Q4 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Primecap Management Co. reported 327 stock positions worth $130.6 billion. Its top holding was Eli Lilly (LLY) at 6.3% of the portfolio, followed by Micron Technology (MU, 3.8%) and Microsoft (MSFT, 3.3%). Compared with Q2 2025, it opened 6 new positions, sold out of 12, added to 60 and reduced 232. The biggest buy was a new position in Chevron (CVX) and the biggest sale Eli Lilly (LLY, shares −11%).

Most Recent 13F: Q2 2026
Location: PASADENA, CA
CIK: 0000763212
Portfolio Value: $130.6B (Q3 2025)
SEC Filing: 0000763212-25-000005 ↗ filed Nov 12, 2025

Holdings Value

Holdings 327 stocks · $130.6B


LLY Eli Lilly & Co.	6.31%	10,795,338	$8.2B	Reduce -11.2%
MU Micron Technology Inc.	3.80%	29,655,435	$5.0B	Reduce -5.8%
MSFT Microsoft Corp.	3.33%	8,389,305	$4.3B	Reduce -8.0%
GOOGL Alphabet Inc. Class A	2.94%	15,777,214	$3.8B	Reduce -5.8%
KLAC KLA Corp.	2.92%	3,535,182	$3.8B	Reduce -21.1%
BABA Alibaba Group Holding-SP ADR	2.74%	19,988,166	$3.6B	Reduce -3.7%
NVDA Nvidia Corp.	2.68%	18,765,600	$3.5B	Reduce -7.7%
BSX Boston Scientific Corp.	2.48%	33,102,094	$3.2B	Reduce -4.5%
AZN Astrazeneca PLC-Spons ADR	2.34%	39,857,971	$3.1B	Reduce -3.3%
TSLA Tesla Inc.	2.26%	6,622,130	$2.9B	Reduce -4.3%
AMGN Amgen Inc.	2.10%	9,707,609	$2.7B	Reduce -8.7%
INTC Intel Corp.	2.04%	79,405,510	$2.7B	Reduce -1.1%
AMZN Amazon.com Inc.	1.80%	10,713,238	$2.4B	Add +42.1%
FDX FedEx Corp.	1.71%	9,442,250	$2.2B	Reduce -6.4%
ORCL Oracle Corp.	1.62%	7,536,326	$2.1B	Reduce -32.6%
BIIB Biogen Inc.	1.60%	14,954,697	$2.1B	Reduce -5.4%
TXN Texas Instruments Inc.	1.58%	11,231,376	$2.1B	Reduce -8.9%
SCHW Schwab (charles) Corp.	1.55%	21,209,187	$2.0B	Add +11.4%
SONY Sony Group Corp. - SP ADR	1.42%	64,442,090	$1.9B	Reduce -8.9%
UAL United Airlines Holdings Inc.	1.33%	18,002,960	$1.7B	Reduce -4.4%
ONC Beone Medicines Ltd.-ADR	1.33%	5,080,461	$1.7B	Reduce -0.1%
FLEX Flex Ltd.	1.31%	29,610,278	$1.7B	Reduce -11.9%
RJF Raymond James Financial Inc.	1.28%	9,646,282	$1.7B	Reduce -3.7%
BIDU Baidu Inc. - Spon ADR	1.22%	12,112,300	$1.6B	Reduce -0.0%
LUV Southwest Airlines Co.	1.17%	47,996,113	$1.5B	Reduce -1.7%
TJX TJX Companies Inc. filed as TJX COS INC NEW	1.17%	10,524,552	$1.5B	Reduce -8.8%
ROST Ross Stores Inc.	1.16%	9,954,910	$1.5B	Reduce -3.1%
GOOG Alphabet Inc. Class C	1.14%	6,126,946	$1.5B	Reduce -27.7%
V Visa Inc. Class A	1.06%	4,064,781	$1.4B	Reduce -4.3%
ADBE Adobe Inc.	1.04%	3,857,505	$1.4B	Reduce -7.2%
WFC Wells Fargo & Co.	0.96%	14,926,855	$1.3B	Reduce -17.9%
JPM JPMorgan Chase & Co.	0.93%	3,838,067	$1.2B	Reduce -23.9%
NVS Novartis AG-Sponsored ADR	0.92%	9,341,854	$1.2B	Reduce -10.2%
ACM Aecom	0.89%	8,878,363	$1.2B	Reduce -7.2%
NTAP Netapp Inc.	0.87%	9,630,055	$1.1B	Reduce -13.8%
TMO Thermo Fisher Scientific Inc.	0.86%	2,303,322	$1.1B	Reduce -4.3%
GSK GSK PLC-Spon ADR	0.85%	25,766,950	$1.1B	Reduce -7.1%
DAL Delta Air Lines Inc.	0.80%	18,293,987	$1.0B	Reduce -9.4%
NTRS Northern Trust Corp.	0.78%	7,541,367	$1.0B	Reduce -3.2%
ELAN Elanco Animal Health Inc.	0.77%	49,958,156	$1.0B	Reduce -3.5%
BMY Bristol-Myers Squibb Co.	0.76%	22,094,320	$996.5M	Reduce -3.7%
CVX Chevron Corp.	0.76%	6,362,826	$988.1M	New
COP Conocophillips	0.75%	10,351,010	$979.1M	Add +31.3%
RCL Royal Caribbean Cruises Ltd.	0.68%	2,756,921	$892.1M	Reduce -13.2%
BMRN Biomarin Pharmaceutical Inc.	0.63%	15,229,287	$824.8M	Reduce -3.4%
ADI Analog Devices Inc.	0.62%	3,280,120	$805.9M	Reduce -4.8%
TDG Transdigm Group Inc.	0.59%	585,373	$771.5M	Add +4.9%
INTU Intuit Inc.	0.59%	1,121,452	$765.9M	Reduce -14.2%
META Meta Platforms Inc. Class A	0.57%	1,010,840	$742.3M	Reduce -0.7%
JBL Jabil Inc.	0.55%	3,331,070	$723.4M	Reduce -2.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.55%	6,247,506	$715.3M	Reduce -1.5%
J Jacobs Solutions Inc.	0.53%	4,590,999	$688.0M	Reduce -3.3%
CAT Caterpillar Inc.	0.46%	1,270,428	$606.2M	Reduce -7.3%
AAL American Airlines Group Inc.	0.43%	49,641,939	$558.0M	Reduce -7.2%
NXT Nextpower Inc. filed as NEXTRACKER INC	0.42%	7,460,451	$552.0M	Reduce -2.8%
MAT Mattel Inc.	0.40%	31,354,147	$527.7M	Reduce -5.6%
CME Cme Group Inc.	0.40%	1,940,588	$524.3M	Reduce -2.4%
HPE Hewlett Packard Enterprise	0.39%	20,889,987	$513.1M	Reduce -12.2%
HPQ HP Inc.	0.38%	18,132,345	$493.7M	Reduce -2.7%
AAPL Apple Inc.	0.34%	1,760,880	$448.4M	Reduce -15.7%
PYPL PayPal Holdings Inc.	0.34%	6,680,930	$448.0M	Add +2.1%
FLUT Flutter Entertainment PLC-Di	0.33%	1,699,488	$431.7M	Reduce -1.0%
RYTM Rhythm Pharmaceuticals Inc.	0.33%	4,262,859	$430.5M	Reduce -12.6%
ZBH Zimmer Biomet Holdings Inc.	0.32%	4,250,630	$418.7M	Reduce -9.8%
QCOM Qualcomm Inc.	0.31%	2,461,722	$409.5M	Reduce -27.2%
DLTR Dollar Tree Inc.	0.30%	4,194,049	$395.8M	Add +6.8%
MKTX Marketaxess Holdings Inc.	0.30%	2,230,595	$388.7M	Add +66.5%
BNTX Biontech SE-ADR	0.29%	3,870,766	$381.7M	Reduce -3.3%
GLW Corning Inc.	0.29%	4,600,372	$377.4M	Reduce -7.7%
ASML ASML Holding NV-NY Reg SHS	0.29%	387,476	$375.1M	Reduce -8.3%
MRSH Marsh & McLennan Cos	0.28%	1,821,016	$367.0M	Reduce -7.2%
CSCO Cisco Systems Inc.	0.28%	5,248,560	$359.1M	Reduce -4.6%
TER Teradyne Inc.	0.27%	2,551,268	$351.2M	Reduce -16.3%
NSC Norfolk Southern Corp.	0.26%	1,132,583	$340.2M	Add +7.9%
WHR Whirlpool Corp.	0.26%	4,309,878	$338.8M	Reduce -6.2%
CW Curtiss-Wright Corp.	0.26%	619,650	$336.4M	Reduce -9.4%
XMTR Xometry Inc. Class A	0.26%	6,168,167	$336.0M	Reduce -1.4%
TRMB Trimble Inc.	0.26%	4,089,601	$333.9M	Reduce -3.4%
XPEV Xpeng Inc. - ADR	0.25%	13,886,057	$325.2M	Reduce -3.7%
OLED Universal Display Corp.	0.25%	2,258,378	$324.4M	Add +1.9%
AMAT Applied Materials Inc.	0.25%	1,584,226	$324.4M	Reduce -9.5%
PGR Progressive Corp.	0.24%	1,265,690	$312.6M	Reduce -5.5%
MDB Mongodb Inc.	0.24%	989,279	$307.1M	Reduce -5.4%
SYY Sysco Corp.	0.23%	3,705,599	$305.1M	Reduce -1.9%
MA Mastercard Inc. Class A	0.23%	527,341	$300.0M	No change
ENTG Entegris Inc.	0.22%	3,161,635	$292.3M	Add +3.1%
USFD US Foods Holding Corp.	0.22%	3,793,209	$290.6M	Add +5.9%
DHR Danaher Corp.	0.22%	1,449,920	$287.5M	Add +17.0%
AMTM Amentum Holdings Inc.	0.22%	11,918,586	$285.5M	Reduce -0.9%
IEX Idex Corp.	0.22%	1,730,580	$281.7M	Add +250.7%
EW Edwards Lifesciences Corp.	0.21%	3,523,291	$274.0M	Add +2.2%
FICO Fair Isaac Corp.	0.21%	180,650	$270.3M	Add +871.2%
PFGC Performance Food Group Co.	0.20%	2,567,817	$267.2M	Reduce -0.1%
EOG EOG Resources Inc.	0.20%	2,370,062	$265.7M	Reduce -6.0%
ALB Albemarle Corp.	0.20%	3,255,909	$264.0M	Reduce -1.5%
C Citigroup Inc.	0.20%	2,590,055	$262.9M	Reduce -7.1%
MRVL Marvell Technology Inc.	0.20%	3,093,805	$260.1M	Reduce -2.2%
AVGO Broadcom Inc.	0.20%	783,708	$258.6M	Reduce -4.9%
TXT Textron Inc.	0.20%	3,043,220	$257.1M	Reduce -23.7%
LIN Linde PLC	0.20%	538,920	$256.0M	Add +2.9%

Show all 327 holdings

Portfolio Sells Q2 2025 → Q3 2025


LLY Eli Lilly & Co.	Reduce -11.2%	6.31%	−1.20
HES Hess Corp.	Sold out	0.00%	−0.84
BSX Boston Scientific Corp.	Reduce -4.5%	2.48%	−0.48
TXN Texas Instruments Inc.	Reduce -8.9%	1.58%	−0.45
ORCL Oracle Corp.	Reduce -32.6%	1.62%	−0.31
XOM Exxon Mobil Corp.	Reduce -82.8%	0.06%	−0.31
MSFT Microsoft Corp.	Reduce -8.0%	3.33%	−0.27
KLAC KLA Corp.	Reduce -21.1%	2.92%	−0.26
AMGN Amgen Inc.	Reduce -8.7%	2.10%	−0.25
ADBE Adobe Inc.	Reduce -7.2%	1.04%	−0.23
JPM JPMorgan Chase & Co.	Reduce -23.9%	0.93%	−0.23
INTU Intuit Inc.	Reduce -14.2%	0.59%	−0.23
WFC Wells Fargo & Co.	Reduce -17.9%	0.96%	−0.20
V Visa Inc. Class A	Reduce -4.3%	1.06%	−0.13
TW Tradeweb Markets Inc. Class A	Reduce -63.6%	0.05%	−0.13
MAT Mattel Inc.	Reduce -5.6%	0.40%	−0.12
QCOM Qualcomm Inc.	Reduce -27.2%	0.31%	−0.11
FDX FedEx Corp.	Reduce -6.4%	1.71%	−0.11
WHR Whirlpool Corp.	Reduce -6.2%	0.26%	−0.11
RCL Royal Caribbean Cruises Ltd.	Reduce -13.2%	0.68%	−0.10
KMX Carmax Inc.	Reduce -3.8%	0.16%	−0.10
LUV Southwest Airlines Co.	Reduce -1.7%	1.17%	−0.08
NVS Novartis AG-Sponsored ADR	Reduce -10.2%	0.92%	−0.08
BMY Bristol-Myers Squibb Co.	Reduce -3.7%	0.76%	−0.08
DIS The Walt Disney Co.	Reduce -1.5%	0.55%	−0.08
NTAP Netapp Inc.	Reduce -13.8%	0.87%	−0.07
MRSH Marsh & McLennan Cos	Reduce -7.2%	0.28%	−0.06
FLUT Flutter Entertainment PLC-Di	Reduce -1.0%	0.33%	−0.06
TXT Textron Inc.	Reduce -23.7%	0.20%	−0.06
BMRN Biomarin Pharmaceutical Inc.	Reduce -3.4%	0.63%	−0.06
GOOG Alphabet Inc. Class C	Reduce -27.7%	1.14%	−0.05
AAL American Airlines Group Inc.	Reduce -7.2%	0.43%	−0.05
CHTR Charter Communications Inc. Class A	Sold out	0.00%	−0.05
BNTX Biontech SE-ADR	Reduce -3.3%	0.29%	−0.05
PGR Progressive Corp.	Reduce -5.5%	0.24%	−0.04
UPS United Parcel Service Class B	Reduce -1.5%	0.14%	−0.04
SPOT Spotify Technology SA	Reduce -14.4%	0.12%	−0.04
SONY Sony Group Corp. - SP ADR	Reduce -8.9%	1.42%	−0.04
EOG EOG Resources Inc.	Reduce -6.0%	0.20%	−0.04
JBL Jabil Inc.	Reduce -2.3%	0.55%	−0.04
NKE Nike Inc. Class B	Reduce -31.3%	0.07%	−0.03
DSGX The Descartes Systems Grp	Reduce -20.6%	0.09%	−0.03
CRM Salesforce Inc.	Reduce -11.6%	0.10%	−0.03
ADI Analog Devices Inc.	Reduce -4.8%	0.62%	−0.03
CME Cme Group Inc.	Reduce -2.4%	0.40%	−0.03
MDT Medtronic PLC	Reduce -99.2%	0.00%	−0.03
UNH Unitedhealth Group Inc.	Reduce -40.6%	0.05%	−0.03
NFLX Netflix Inc.	Reduce -0.5%	0.18%	−0.03
NFE New Fortress Energy Inc.	Reduce -74.1%	0.01%	−0.03
CSCO Cisco Systems Inc.	Reduce -4.6%	0.28%	−0.03

Portfolio Buys Q2 2025 → Q3 2025


CVX Chevron Corp.	New	0.76%	+0.76
AMZN Amazon.com Inc.	Add +42.1%	1.80%	+0.49
COP Conocophillips	Add +31.3%	0.75%	+0.19
FICO Fair Isaac Corp.	Add +871.2%	0.21%	+0.18
SCHW Schwab (charles) Corp.	Add +11.4%	1.55%	+0.17
IEX Idex Corp.	Add +250.7%	0.22%	+0.15
HON Honeywell International Inc.	New	0.07%	+0.07
MKTX Marketaxess Holdings Inc.	Add +66.5%	0.30%	+0.06
NSC Norfolk Southern Corp.	Add +7.9%	0.26%	+0.05
BAH Booz Allen Hamilton Holdings	Add +56.6%	0.15%	+0.05
AMD Advanced Micro Devices	Add +103.0%	0.06%	+0.03
XNCR Xencor Inc.	Add +1.4%	0.10%	+0.03
CIEN Ciena Corp.	Add +5.9%	0.07%	+0.03
ENTG Entegris Inc.	Add +3.1%	0.22%	+0.03
DHR Danaher Corp.	Add +17.0%	0.22%	+0.03
IE Ivanhoe Electric Inc. / US	Add +79.6%	0.03%	+0.02
CMA Comerica Inc.	Add +1.2%	0.14%	+0.02
MOG.A Moog Inc. Class A	Add +2.0%	0.07%	+0.01
PSN Parsons Corp.	Add +25.8%	0.03%	+0.01
IT Gartner Inc.	Add +140.7%	0.02%	+0.01
BURL Burlington Stores Inc.	Add +0.2%	0.12%	+0.01
TTD Trade Desk Inc./the Class A	Add +120.2%	0.02%	+0.01
AME Ametek Inc.	Add +5.2%	0.12%	+0.01
SNPS Synopsys Inc.	Add +32.4%	0.03%	+0.01
WELL Welltower Inc.	Add +1.0%	0.05%	+0.01
RGEN Repligen Corp.	Add +35.1%	0.02%	+0.01
WMT Walmart Inc.	Add +43.4%	0.01%	+0.00
USFD US Foods Holding Corp.	Add +5.9%	0.22%	+0.00
KNX Knight-Swift Transportation	Add +32.3%	0.03%	+0.00
GFF Griffon Corp.	Add +16.6%	0.02%	+0.00
XPO Xpo Inc.	Add +6.3%	0.06%	+0.00
TOST Toast Inc. Class A	New	0.00%	+0.00
BA The Boeing Co.	Add +4.1%	0.06%	+0.00
CAVA Cava Group Inc.	Add +224.1%	0.00%	+0.00
TMHC Taylor Morrison Home Corp.	New	0.00%	+0.00
FLYW Flywire Corp.-Voting	Add +0.5%	0.02%	+0.00
SAIA Saia Inc.	Add +9.9%	0.01%	+0.00
ALLO Allogene Therapeutics Inc.	Add +23.8%	0.01%	+0.00
FORM Formfactor Inc.	Add +0.1%	0.06%	+0.00
DKS Dick's Sporting Goods Inc.	Add +34.7%	0.00%	+0.00
SVV Savers Value Village Inc.	Add +6.6%	0.01%	+0.00
LIN Linde PLC	Add +2.9%	0.20%	+0.00
CSGP Costar Group Inc.	Add +11.4%	0.01%	+0.00
TTWO Take-Two Interactive Softwre	Add +0.6%	0.02%	+0.00
WOLF Wolfspeed Inc.	New	0.00%	+0.00
SNCY Sun Country Airlines Holding	Add +74.5%	0.00%	+0.00
FIVE Five Below	New	0.00%	+0.00
MQ Marqeta Inc.	Add +13.0%	0.00%	0.00
AUR Aurora Innovation Inc.	Add +0.3%	0.04%	−0.00
IBTA Ibotta Inc. Class A	Add +25.2%	0.00%	−0.00

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	324	$169.1B	MU, LLY, INTC, KLAC, GOOGL
Q1 2026	320	$127.0B	LLY, MU, GOOGL, AZN, KLAC
Q4 2025	319	$132.1B	LLY, MU, GOOGL, MSFT, KLAC
Q3 2025	327	$130.6B	LLY, MU, MSFT, GOOGL, KLAC
Q2 2025	333	$126.2B	LLY, MSFT, KLAC, MU, BSX
Q1 2025	335	$121.0B	LLY, AMGN, BSX, MSFT, KLAC
Q4 2024	329	$129.1B	LLY, MSFT, FDX, AMGN, BSX
Q3 2024	336	$136.0B	LLY, AMGN, MSFT, KLAC, MU
Q2 2024	332	$138.1B	LLY, MU, KLAC, AMGN, MSFT
Q1 2024	335	$134.1B	LLY, MU, MSFT, AMGN, KLAC