River Road Asset Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), River Road Asset Management, LLC reported 180 stock positions worth $7.4 billion. Its top holding was Bj's Wholesale Club (BJ) at 3.8% of the portfolio, followed by White Mountains Insurance GP (WTM, 2.9%) and McGrath Rentcorp (MGRC, 2.9%). Compared with Q4 2024, it opened 20 new positions, sold out of 11, added to 59 and reduced 101. The biggest buy was Caci International Class A (CACI, shares +1255%) and the biggest sale Talen Energy (TLN, shares −56%).
- Most Recent 13F
- Q2 2026
- Location
- LOUISVILLE, KY
- CIK
- 0001341401
- Portfolio Value
- $7.4B (Q1 2025)
- SEC Filing
- 0001341401-25-000027 ↗ filed May 13, 2025
Holdings Value
Holdings 180 stocks · $7.4B
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 3.81% | 2,456,667 | $280.3M | Reduce -11.9% |
| WTM White Mountains Insurance GP | 2.87% | 109,665 | $211.2M | Reduce -2.5% |
| MGRC McGrath Rentcorp | 2.87% | 1,894,709 | $211.1M | Reduce -0.1% |
| MUSA Murphy USA Inc. | 2.53% | 396,382 | $186.2M | Add +14.4% |
| CXW Corecivic Inc. | 2.41% | 8,726,818 | $177.1M | Add +4.3% |
| AXS Axis Capital Holdings Ltd. | 2.30% | 1,684,582 | $168.9M | Reduce -4.9% |
| LKQ LKQ Corp. | 1.98% | 3,417,284 | $145.4M | Reduce -2.5% |
| NWE Northwestern Energy Group Inc. | 1.87% | 2,376,005 | $137.5M | Add +0.2% |
| UNF Unifirst Corp. | 1.87% | 789,426 | $137.4M | Reduce -7.7% |
| GNW Genworth Financial Inc. | 1.65% | 17,084,167 | $121.1M | Reduce -0.8% |
| GXO Gxo Logistics Inc. | 1.50% | 2,814,485 | $110.0M | Add +40.1% |
| CACI Caci International Inc. Class A | 1.44% | 287,802 | $105.6M | Add +1254.6% |
| WEX Wex Inc. | 1.41% | 660,198 | $103.7M | Reduce -9.0% |
| TAP Molson Coors Beverage Co. Class B | 1.37% | 1,658,850 | $101.0M | Reduce -0.9% |
| AGO Assured Guaranty Ltd. | 1.36% | 1,131,771 | $99.7M | Add +1.4% |
| LAD Lithia Motors Inc. | 1.30% | 326,395 | $95.8M | Reduce -0.1% |
| WTW Willis Towers Watson PLC | 1.28% | 277,414 | $93.8M | Reduce -12.0% |
| RTO Rentokil Initial PLC-SP ADR | 1.26% | 4,035,348 | $92.4M | Add +6.6% |
| TLN Talen Energy Corp. | 1.23% | 451,107 | $90.1M | Reduce -55.9% |
| HAE Haemonetics Corp. | 1.21% | 1,395,052 | $88.7M | New |
| CNNE Cannae Holdings Inc. | 1.17% | 4,678,876 | $85.8M | Reduce -16.4% |
| PLUS Eplus Inc. | 1.15% | 1,386,853 | $84.6M | Add +197.6% |
| PRKS United Parks & Resorts Inc. | 1.12% | 1,815,952 | $82.6M | Add +2.5% |
| SNN Smith & Nephew PLC -Spon ADR | 1.12% | 2,909,334 | $82.5M | Add +43.2% |
| VNT Vontier Corp. | 1.12% | 2,502,104 | $82.2M | Reduce 0.0% |
| SWX Southwest Gas Holdings Inc. | 1.11% | 1,133,782 | $81.4M | Reduce -1.9% |
| OPLN Openlane Inc. | 1.08% | 4,131,108 | $79.6M | Reduce -14.7% |
| TXNM TXNM Energy Inc. | 1.07% | 1,467,586 | $78.5M | Reduce -33.8% |
| CNH CNH Industrial NV | 1.06% | 6,363,598 | $78.1M | Reduce -7.8% |
| NOMD Nomad Foods Ltd. | 1.05% | 3,910,211 | $76.8M | Reduce -3.3% |
| PZZA Papa John's Intl Inc. | 1.03% | 1,835,071 | $75.4M | Reduce -14.2% |
| CRH CRH PLC | 0.99% | 828,045 | $72.8M | Reduce -2.4% |
| KR Kroger Co. | 0.98% | 1,066,317 | $72.2M | Reduce -35.0% |
| SNX TD Synnex Corp. | 0.96% | 681,230 | $70.8M | Reduce -21.6% |
| NSP Insperity Inc. | 0.96% | 787,250 | $70.2M | Add +28.4% |
| MAA Mid-America Apartment Comm | 0.95% | 418,175 | $70.1M | Reduce -5.4% |
| PSMT Pricesmart Inc. | 0.94% | 784,972 | $69.0M | Add +279.2% |
| EVTC Evertec Inc. | 0.94% | 1,874,607 | $68.9M | Reduce -1.9% |
| PR Permian Resources Corp. Class A | 0.93% | 4,942,067 | $68.4M | Reduce -0.8% |
| PRSU Pursuit Attractions and Hosp | 0.91% | 1,887,193 | $66.8M | Add +0.6% |
| HII Huntington Ingalls Industrie | 0.90% | 323,541 | $66.0M | Reduce -6.3% |
| LH Labcorp Holdings Inc. | 0.88% | 278,387 | $64.8M | Reduce -4.9% |
| IMKTA Ingles Markets Inc. Class A | 0.86% | 975,819 | $63.6M | Reduce -0.1% |
| LGIH Lgi Homes Inc. | 0.85% | 939,410 | $62.4M | Add +3.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.83% | 114,700 | $61.1M | Reduce -12.5% |
| GMS GMS Inc. | 0.83% | 832,721 | $60.9M | New |
| WCC Wesco International Inc. | 0.82% | 388,501 | $60.3M | Add +212.9% |
| ALIT Alight Inc. Class A | 0.81% | 10,047,680 | $59.6M | Add +0.8% |
| CSX CSX Corp. | 0.80% | 1,991,628 | $58.6M | Add +37.1% |
| DK Delek US Holdings Inc. | 0.79% | 3,853,188 | $58.1M | Add +0.2% |
| BDX Becton Dickinson and Co. | 0.79% | 251,954 | $57.7M | Add +89.7% |
| DOLE Dole PLC | 0.78% | 3,962,604 | $57.3M | Add +4.1% |
| MTN Vail Resorts Inc. | 0.77% | 353,369 | $56.5M | Reduce -20.5% |
| CASY Casey's General Stores Inc. | 0.76% | 128,921 | $56.0M | Add +41.5% |
| RPC Ridgepost Capital Inc. Class A filed as P10 INC | 0.76% | 4,725,477 | $55.5M | Reduce -2.7% |
| RDN Radian Group Inc. | 0.74% | 1,655,765 | $54.8M | Add +0.7% |
| AWI Armstrong World Industries | 0.74% | 388,244 | $54.7M | Reduce -1.0% |
| ELV Elevance Health Inc. | 0.74% | 124,900 | $54.3M | Add +8.1% |
| ENOV Enovis Corp. | 0.72% | 1,391,887 | $53.2M | Add +12.4% |
| SM SM Energy Co. | 0.72% | 1,758,090 | $52.7M | Reduce -0.6% |
| TRIP Tripadvisor Inc. | 0.72% | 3,713,222 | $52.6M | Reduce -0.1% |
| HHH Howard Hughes Holdings Inc. | 0.71% | 705,435 | $52.3M | Add +125.7% |
| CNA Cna Financial Corp. | 0.68% | 980,535 | $49.8M | Reduce -1.7% |
| ATKR Atkore Inc. | 0.64% | 784,321 | $47.1M | Reduce -28.3% |
| GPN Global Payments Inc. | 0.63% | 475,302 | $46.5M | Add +3.2% |
| WSC Willscot Holdings Corp. | 0.62% | 1,636,424 | $45.5M | Add +1.2% |
| GEHC GE Healthcare Technology | 0.61% | 558,914 | $45.1M | Add +473.5% |
| YELP Yelp Inc. | 0.60% | 1,198,829 | $44.4M | Reduce -1.7% |
| HCC Warrior Met Coal Inc. | 0.59% | 906,557 | $43.3M | Add +2.0% |
| AER Aercap Holdings NV | 0.58% | 419,379 | $42.8M | Add +7.1% |
| EMBC Embecta Corp. | 0.56% | 3,227,891 | $41.2M | Reduce -0.6% |
| AGX Argan Inc. | 0.55% | 306,785 | $40.2M | Reduce -1.1% |
| CSL Carlisle Cos Inc. | 0.54% | 116,840 | $39.8M | Add +356.1% |
| JBI Janus International Group Inc. | 0.51% | 5,238,338 | $37.7M | Add +0.8% |
| GEO The Geo Group Inc. | 0.51% | 1,272,469 | $37.2M | Reduce -23.2% |
| KMI Kinder Morgan Inc. | 0.49% | 1,269,087 | $36.2M | Reduce -15.6% |
| SSNC Ss&c Technologies Holdings | 0.48% | 426,188 | $35.6M | Reduce -8.6% |
| UL Unilever PLC | 0.48% | 592,165 | $35.3M | Reduce -1.7% |
| TRS Trimas Corp. | 0.44% | 1,392,394 | $32.6M | Reduce -1.3% |
| KKR KKR & Co. Inc. | 0.44% | 279,789 | $32.3M | Add +22.1% |
| UNH Unitedhealth Group Inc. | 0.42% | 58,770 | $30.8M | Reduce -5.5% |
| QSR Restaurant Brands Intern | 0.41% | 453,236 | $30.2M | New |
| ICUI Icu Medical Inc. | 0.40% | 212,229 | $29.5M | New |
| LEN Lennar Corp. Class A | 0.37% | 238,243 | $27.3M | Reduce -39.1% |
| LULU Lululemon Athletica Inc. | 0.35% | 91,565 | $25.9M | Add +6.3% |
| TGT Target Corp. | 0.35% | 246,919 | $25.8M | Add +5.3% |
| DINO HF Sinclair Corp. | 0.35% | 781,794 | $25.7M | Add +0.8% |
| VYX NCR Voyix Corp. | 0.34% | 2,557,586 | $24.9M | Add +0.2% |
| SU Suncor Energy Inc. | 0.34% | 642,500 | $24.9M | Reduce -3.5% |
| WMB Williams Cos Inc. | 0.33% | 402,544 | $24.1M | Reduce -13.0% |
| BLCO Bausch + Lomb Corp. | 0.31% | 1,592,037 | $23.1M | Add +5.6% |
| ORCL Oracle Corp. | 0.31% | 165,087 | $23.1M | Add +2.9% |
| HUBG Hub Group Inc. Class A | 0.31% | 615,699 | $22.9M | Add +57.1% |
| ABG Asbury Automotive Group | 0.27% | 90,056 | $19.9M | Add +80.2% |
| ITB iShares U.S. Home Constructi | 0.25% | 190,071 | $18.1M | New |
| PGR Progressive Corp. | 0.24% | 61,920 | $17.5M | Reduce -34.4% |
| PNC PNC Financial Services Group | 0.24% | 99,437 | $17.5M | Reduce -8.5% |
| PGNY Progyny Inc. | 0.23% | 765,373 | $17.1M | Reduce -48.3% |
| CB Chubb Ltd. | 0.23% | 56,425 | $17.0M | Add +10.1% |
| AMT American Tower Corp. | 0.23% | 77,327 | $16.8M | Reduce -2.0% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $4.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 92,182 | $4.4M | Add +27.6% |
Total filed on the 13F, all lines: $7.4B.
Portfolio Sells Q4 2024 → Q1 2025
| TLN Talen Energy Corp. | Reduce -55.9% | 1.23% | −1.52 |
| SUM Summit Materials Inc. Class A | Sold out | 0.00% | −1.24 |
| ATSG Air Transport Services Group | Sold out | 0.00% | −0.90 |
| DNB Dun & Bradstreet Holdings Inc. | Reduce -78.0% | 0.13% | −0.66 |
| ATKR Atkore Inc. | Reduce -28.3% | 0.64% | −0.57 |
| PDCO Patterson Cos Inc. | Sold out | 0.00% | −0.54 |
| SNX TD Synnex Corp. | Reduce -21.6% | 0.96% | −0.39 |
| TXNM TXNM Energy Inc. | Reduce -33.8% | 1.07% | −0.38 |
| KR Kroger Co. | Reduce -35.0% | 0.98% | −0.35 |
| MTN Vail Resorts Inc. | Reduce -20.5% | 0.77% | −0.34 |
| LEN Lennar Corp. Class A | Reduce -39.1% | 0.37% | −0.34 |
| EMBC Embecta Corp. | Reduce -0.6% | 0.56% | −0.33 |
| PII Polaris Inc. | Sold out | 0.00% | −0.31 |
| CNNE Cannae Holdings Inc. | Reduce -16.4% | 1.17% | −0.31 |
| WEX Wex Inc. | Reduce -9.0% | 1.41% | −0.28 |
| UPS United Parcel Service Class B | Reduce -60.7% | 0.15% | −0.28 |
| LAD Lithia Motors Inc. | Reduce -0.1% | 1.30% | −0.25 |
| CMCSA Comcast Corp. Class A | Reduce -49.9% | 0.21% | −0.21 |
| SM SM Energy Co. | Reduce -0.6% | 0.72% | −0.20 |
| OPLN Openlane Inc. | Reduce -14.7% | 1.08% | −0.19 |
| GPC Genuine Parts Co. | Reduce -55.2% | 0.17% | −0.19 |
| VAL Valaris Ltd. | Reduce -67.4% | 0.07% | −0.17 |
| PZZA Papa John's Intl Inc. | Reduce -14.2% | 1.03% | −0.14 |
| GEO The Geo Group Inc. | Reduce -23.2% | 0.51% | −0.11 |
| GLW Corning Inc. | Reduce -50.8% | 0.10% | −0.11 |
| PGNY Progyny Inc. | Reduce -48.3% | 0.23% | −0.11 |
| BRC Brady Corporation Class A | Sold out | 0.00% | −0.11 |
| SBUX Starbucks Corp. | Reduce -55.3% | 0.10% | −0.10 |
| VNT Vontier Corp. | Reduce 0.0% | 1.12% | −0.10 |
| SYY Sysco Corp. | Sold out | 0.00% | −0.09 |
| UNF Unifirst Corp. | Reduce -7.7% | 1.87% | −0.08 |
| BAM Brookfield Asset Mgmt-A | Sold out | 0.00% | −0.08 |
| MGM MGM Resorts International | Sold out | 0.00% | −0.07 |
| CCOI Cogent Communications Holdin | Reduce -7.6% | 0.20% | −0.07 |
| GOOG Alphabet Inc. Class C | Reduce -15.9% | 0.16% | −0.06 |
| PGR Progressive Corp. | Reduce -34.4% | 0.24% | −0.06 |
| AAP Advance Auto Parts Inc. | Reduce -21.1% | 0.12% | −0.06 |
| ACIW Aci Worldwide Inc. | Reduce -32.4% | 0.16% | −0.06 |
| RPC Ridgepost Capital Inc. Class A | Reduce -2.7% | 0.76% | −0.06 |
| KMI Kinder Morgan Inc. | Reduce -15.6% | 0.49% | −0.06 |
| CRH CRH PLC | Reduce -2.4% | 0.99% | −0.05 |
| IDA Idacorp Inc. | Reduce -26.3% | 0.17% | −0.04 |
| PNC PNC Financial Services Group | Reduce -8.5% | 0.24% | −0.04 |
| CLVT Clarivate PLC | Sold out | 0.00% | −0.04 |
| VST Vistra Corp. | Sold out | 0.00% | −0.04 |
| WTW Willis Towers Watson PLC | Reduce -12.0% | 1.28% | −0.04 |
| USB US Bancorp | Reduce -8.6% | 0.17% | −0.04 |
| WTM White Mountains Insurance GP | Reduce -2.5% | 2.87% | −0.04 |
| FSK FS KKR Capital Corp. | Reduce -44.3% | 0.04% | −0.03 |
| RHI Robert Half Inc. | Reduce -1.2% | 0.09% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| CACI Caci International Inc. Class A | Add +1254.6% | 1.44% | +1.32 |
| HAE Haemonetics Corp. | New | 1.21% | +1.21 |
| GMS GMS Inc. | New | 0.83% | +0.83 |
| PLUS Eplus Inc. | Add +197.6% | 1.15% | +0.69 |
| PSMT Pricesmart Inc. | Add +279.2% | 0.94% | +0.68 |
| WCC Wesco International Inc. | Add +212.9% | 0.82% | +0.52 |
| GEHC GE Healthcare Technology | Add +473.5% | 0.61% | +0.51 |
| SNN Smith & Nephew PLC -Spon ADR | Add +43.2% | 1.12% | +0.46 |
| CSL Carlisle Cos Inc. | Add +356.1% | 0.54% | +0.42 |
| QSR Restaurant Brands Intern | New | 0.41% | +0.41 |
| ICUI Icu Medical Inc. | New | 0.40% | +0.40 |
| HHH Howard Hughes Holdings Inc. | Add +125.7% | 0.71% | +0.39 |
| BDX Becton Dickinson and Co. | Add +89.7% | 0.79% | +0.38 |
| GXO Gxo Logistics Inc. | Add +40.1% | 1.50% | +0.33 |
| NSP Insperity Inc. | Add +28.4% | 0.96% | +0.32 |
| CASY Casey's General Stores Inc. | Add +41.5% | 0.76% | +0.28 |
| ITB iShares U.S. Home Constructi | New | 0.25% | +0.25 |
| MUSA Murphy USA Inc. | Add +14.4% | 2.53% | +0.22 |
| NWE Northwestern Energy Group Inc. | Add +0.2% | 1.87% | +0.18 |
| CSX CSX Corp. | Add +37.1% | 0.80% | +0.17 |
| ELV Elevance Health Inc. | Add +8.1% | 0.74% | +0.17 |
| OIH Vaneck Oil Services ETF | New | 0.16% | +0.16 |
| TNC Tennant Co. | New | 0.11% | +0.11 |
| BXC Bluelinx Holdings Inc. | Add +182.0% | 0.21% | +0.11 |
| ABG Asbury Automotive Group | Add +80.2% | 0.27% | +0.11 |
| DOLE Dole PLC | Add +4.1% | 0.78% | +0.09 |
| WMG Warner Music Group Corp. Class A | Add +127.5% | 0.16% | +0.09 |
| VOYA Voya Financial Inc. | New | 0.09% | +0.09 |
| AER Aercap Holdings NV | Add +7.1% | 0.58% | +0.08 |
| HUBG Hub Group Inc. Class A | Add +57.1% | 0.31% | +0.08 |
| ACN Accenture PLC Class A | New | 0.08% | +0.08 |
| EL Estee Lauder Companies Class A | New | 0.06% | +0.06 |
| PSX Phillips 66 | New | 0.06% | +0.06 |
| RPRX Royalty Pharma PLC Class A | Add +14.5% | 0.19% | +0.06 |
| CCL Carnival Corp. | New | 0.06% | +0.06 |
| RDN Radian Group Inc. | Add +0.7% | 0.74% | +0.05 |
| STZ Constellation Brands Inc. Class A | New | 0.05% | +0.05 |
| TH Target Hospitality Corp. | New | 0.04% | +0.04 |
| CB Chubb Ltd. | Add +10.1% | 0.23% | +0.04 |
| VMI Valmont Industries | Add +82.3% | 0.08% | +0.03 |
| BATRK Atlanta Braves Holdings in-C | Add +59.9% | 0.06% | +0.03 |
| FERG Ferguson Enterprises Inc. | Add +52.9% | 0.07% | +0.02 |
| AGO Assured Guaranty Ltd. | Add +1.4% | 1.36% | +0.02 |
| PAYC Paycom Software Inc. | Add +3.5% | 0.16% | +0.02 |
| DE Deere & Co. | New | 0.02% | +0.02 |
| CNI Canadian Natl Railway Co. | New | 0.01% | +0.01 |
| APG Api Group Corp. | Add +7.3% | 0.14% | +0.01 |
| PEP Pepsico Inc. | Add +10.1% | 0.11% | +0.01 |
| INMD Inmode Ltd. | Add +0.0% | 0.12% | +0.01 |
| ARE Alexandria Real Estate Equit | Add +13.0% | 0.08% | +0.01 |
Notes & Other Activity Q4 2024 → Q1 2025
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Add +27.6% | 92,182 | $4.4M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 173 | $9.0B | BJ, MGRC, WTM, CXW, BRK.B |
| Q1 2026 | 174 | $8.8B | BJ, WTM, MGRC, BRK.B, MUSA |
| Q4 2025 | 174 | $9.1B | BJ, WTM, LAD, BRK.B, MGRC |
| Q3 2025 | 175 | $8.9B | BJ, MGRC, CACI, BRK.B, MUSA |
| Q2 2025 | 181 | $7.9B | MGRC, BJ, WTM, MUSA, CXW |
| Q1 2025 | 180 | $7.4B | BJ, WTM, MGRC, MUSA, CXW |
| Q4 2024 | 171 | $7.5B | BJ, WTM, MGRC, TLN, CXW |
| Q3 2024 | 172 | $7.6B | TLN, BJ, WTM, MUSA, UNF |
| Q2 2024 | 173 | $7.0B | BJ, WTM, MUSA, LKQ, UNF |
| Q1 2024 | 165 | $7.4B | BJ, LKQ, ATKR, WTM, WEX |