River Road Asset Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), River Road Asset Management, LLC reported 181 stock positions worth $7.9 billion. Its top holding was McGrath Rentcorp (MGRC) at 3.1% of the portfolio, followed by Bj's Wholesale Club (BJ, 2.8%) and White Mountains Insurance GP (WTM, 2.5%). Compared with Q1 2025, it opened 24 new positions, sold out of 23, added to 91 and reduced 64. The biggest buy was Wesco International (WCC, shares +56%) and the biggest sale LKQ (LKQ, shares −46%).
- Most Recent 13F
- Q2 2026
- Location
- LOUISVILLE, KY
- CIK
- 0001341401
- Portfolio Value
- $7.9B (Q2 2025)
- SEC Filing
- 0001341401-25-000034 ↗ filed Aug 13, 2025
Holdings Value
Holdings 181 stocks · $7.9B
| MGRC McGrath Rentcorp | 3.12% | 1,970,974 | $246.0M | Add +4.0% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 2.78% | 2,066,917 | $218.9M | Reduce -15.9% |
| WTM White Mountains Insurance GP | 2.50% | 109,892 | $196.5M | Add +0.2% |
| MUSA Murphy USA Inc. | 2.26% | 491,641 | $178.2M | Add +24.0% |
| CXW Corecivic Inc. | 2.22% | 8,715,050 | $174.6M | Reduce -0.1% |
| CACI Caci International Inc. Class A | 2.14% | 365,479 | $168.3M | Add +27.0% |
| AGO Assured Guaranty Ltd. | 1.93% | 1,791,780 | $151.5M | Add +58.3% |
| AXS Axis Capital Holdings Ltd. | 1.92% | 1,608,472 | $150.9M | Reduce -4.5% |
| GXO Gxo Logistics Inc. | 1.87% | 2,967,046 | $147.5M | Add +5.4% |
| UNF Unifirst Corp. | 1.72% | 793,765 | $135.8M | Add +0.6% |
| WEX Wex Inc. | 1.72% | 797,871 | $135.4M | Add +20.9% |
| GNW Genworth Financial Inc. | 1.67% | 16,692,447 | $131.2M | Reduce -2.3% |
| VNT Vontier Corp. | 1.64% | 3,115,850 | $129.2M | Add +24.5% |
| WCC Wesco International Inc. | 1.59% | 605,918 | $125.4M | Add +56.0% |
| NWE Northwestern Energy Group Inc. | 1.57% | 2,299,153 | $123.5M | Reduce -3.2% |
| HAE Haemonetics Corp. | 1.56% | 1,655,676 | $122.6M | Add +18.7% |
| LAD Lithia Motors Inc. | 1.51% | 412,516 | $118.8M | Add +26.4% |
| PLUS Eplus Inc. | 1.34% | 1,624,923 | $105.3M | Add +17.2% |
| WTW Willis Towers Watson PLC | 1.33% | 331,475 | $104.7M | Add +19.5% |
| CNNE Cannae Holdings Inc. | 1.28% | 4,719,243 | $100.9M | Add +0.9% |
| SNN Smith & Nephew PLC -Spon ADR | 1.23% | 3,179,814 | $97.2M | Add +9.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.19% | 197,889 | $93.4M | Add +72.5% |
| CRH CRH PLC | 1.15% | 950,353 | $90.7M | Add +14.8% |
| RTO Rentokil Initial PLC-SP ADR | 1.14% | 3,628,543 | $89.9M | Reduce -10.1% |
| GEHC GE Healthcare Technology | 1.13% | 1,248,302 | $89.0M | Add +123.3% |
| PRKS United Parks & Resorts Inc. | 1.12% | 1,870,138 | $88.5M | Add +3.0% |
| SWX Southwest Gas Holdings Inc. | 1.11% | 1,116,784 | $87.3M | Reduce -1.5% |
| PSMT Pricesmart Inc. | 1.07% | 786,509 | $84.5M | Add +0.2% |
| WSC Willscot Holdings Corp. | 1.07% | 2,873,521 | $84.3M | Add +75.6% |
| ICUI Icu Medical Inc. | 1.06% | 651,492 | $83.7M | Add +207.0% |
| CNH CNH Industrial NV | 0.99% | 6,018,758 | $78.0M | Reduce -5.4% |
| SNX TD Synnex Corp. | 0.98% | 531,833 | $76.8M | Reduce -21.9% |
| DK Delek US Holdings Inc. | 0.97% | 3,425,981 | $76.6M | Reduce -11.1% |
| TLN Talen Energy Corp. | 0.97% | 202,931 | $76.6M | Reduce -55.0% |
| MAA Mid-America Apartment Comm | 0.95% | 522,379 | $74.4M | Add +24.9% |
| TXNM TXNM Energy Inc. | 0.93% | 1,285,860 | $73.0M | Reduce -12.4% |
| AWI Armstrong World Industries | 0.87% | 362,519 | $68.2M | Reduce -6.6% |
| PR Permian Resources Corp. Class A | 0.87% | 4,814,001 | $68.2M | Reduce -2.6% |
| EVTC Evertec Inc. | 0.85% | 1,849,213 | $66.8M | Reduce -1.4% |
| NOMD Nomad Foods Ltd. | 0.83% | 3,879,628 | $65.3M | Reduce -0.8% |
| OPLN Openlane Inc. | 0.82% | 2,611,464 | $64.3M | Reduce -36.8% |
| RPC Ridgepost Capital Inc. Class A filed as P10 INC | 0.80% | 5,095,267 | $62.7M | Add +7.8% |
| IMKTA Ingles Markets Inc. Class A | 0.79% | 984,705 | $62.0M | Add +0.9% |
| ATKR Atkore Inc. | 0.78% | 792,427 | $61.0M | Add +1.0% |
| TRIP Tripadvisor Inc. | 0.76% | 3,417,831 | $59.8M | Reduce -8.0% |
| PRSU Pursuit Attractions and Hosp | 0.75% | 1,958,110 | $59.2M | Add +3.8% |
| QSR Restaurant Brands Intern | 0.74% | 863,170 | $58.6M | Add +90.5% |
| HII Huntington Ingalls Industrie | 0.74% | 208,902 | $58.3M | Reduce -35.4% |
| DOLE Dole PLC | 0.74% | 4,073,685 | $58.0M | Add +2.8% |
| LH Labcorp Holdings Inc. | 0.72% | 217,725 | $56.6M | Reduce -21.8% |
| SBUX Starbucks Corp. | 0.71% | 623,064 | $55.6M | Add +724.8% |
| CSX CSX Corp. | 0.70% | 1,560,575 | $55.5M | Reduce -21.6% |
| TAP Molson Coors Beverage Co. Class B | 0.70% | 1,137,229 | $55.4M | Reduce -31.4% |
| MTN Vail Resorts Inc. | 0.70% | 367,200 | $55.2M | Add +3.9% |
| ALIT Alight Inc. Class A | 0.70% | 10,211,903 | $54.7M | Add +1.6% |
| LKQ LKQ Corp. | 0.69% | 1,842,103 | $54.3M | Reduce -46.1% |
| GMS GMS Inc. | 0.68% | 484,952 | $53.2M | Reduce -41.8% |
| SSNC Ss&c Technologies Holdings | 0.67% | 613,474 | $52.4M | Add +43.9% |
| TTAM Titan America SA | 0.66% | 3,646,434 | $52.3M | New |
| CSL Carlisle Cos Inc. | 0.65% | 143,478 | $50.9M | Add +22.8% |
| HCC Warrior Met Coal Inc. | 0.64% | 978,066 | $50.3M | Add +7.9% |
| LEN Lennar Corp. Class A | 0.63% | 443,477 | $49.7M | Add +86.1% |
| LGIH Lgi Homes Inc. | 0.61% | 904,337 | $48.2M | Reduce -3.7% |
| SM SM Energy Co. | 0.61% | 1,738,150 | $48.0M | Reduce -1.1% |
| NSP Insperity Inc. | 0.59% | 780,463 | $46.5M | Reduce -0.9% |
| JBI Janus International Group Inc. | 0.57% | 5,216,425 | $44.7M | Reduce -0.4% |
| ABG Asbury Automotive Group | 0.56% | 199,952 | $44.4M | Add +122.0% |
| AMRZ Amrize Ltd. | 0.54% | 826,587 | $42.3M | New |
| HHH Howard Hughes Holdings Inc. | 0.53% | 607,714 | $41.8M | Reduce -13.8% |
| COO The Cooper Cos Inc. | 0.51% | 571,809 | $40.4M | New |
| YELP Yelp Inc. | 0.51% | 1,165,019 | $40.1M | Reduce -2.8% |
| LULU Lululemon Athletica Inc. | 0.51% | 198,578 | $39.8M | Add +116.9% |
| FIS Fidelity National Info Serv | 0.50% | 492,456 | $39.1M | New |
| CNA Cna Financial Corp. | 0.50% | 881,726 | $39.1M | Reduce -10.1% |
| HUBG Hub Group Inc. Class A | 0.49% | 1,103,402 | $38.6M | Add +79.2% |
| ENOV Enovis Corp. | 0.49% | 1,439,923 | $38.6M | Add +3.5% |
| KKR KKR & Co. Inc. | 0.49% | 261,781 | $38.4M | Reduce -6.4% |
| PGR Progressive Corp. | 0.47% | 152,069 | $36.8M | Add +145.6% |
| ICLR Icon PLC | 0.45% | 209,094 | $35.4M | New |
| VYX NCR Voyix Corp. | 0.44% | 2,544,881 | $34.7M | Reduce -0.5% |
| DINO HF Sinclair Corp. | 0.44% | 781,387 | $34.3M | Reduce -0.1% |
| AER Aercap Holdings NV | 0.43% | 313,018 | $33.6M | Reduce -25.4% |
| EMBC Embecta Corp. | 0.42% | 3,240,243 | $32.9M | Add +0.4% |
| UL Unilever PLC | 0.41% | 557,765 | $32.6M | Reduce -5.8% |
| BN Brookfield Corp. | 0.39% | 453,922 | $30.4M | New |
| DE Deere & Co. | 0.36% | 53,670 | $28.1M | Add +2041.7% |
| KR Kroger Co. | 0.35% | 389,911 | $27.3M | Reduce -63.4% |
| ORCL Oracle Corp. | 0.34% | 106,440 | $27.0M | Reduce -35.5% |
| MDU Mdu Resources Group Inc. | 0.33% | 1,513,343 | $26.1M | New |
| IWD iShares Russell 1000 Value E | 0.32% | 130,509 | $25.5M | New |
| DEO Diageo PLC-Sponsored ADR | 0.32% | 253,460 | $24.8M | New |
| WMB Williams Cos Inc. | 0.31% | 405,002 | $24.3M | Add +0.6% |
| BDX Becton Dickinson and Co. | 0.30% | 134,257 | $23.9M | Reduce -46.7% |
| KMI Kinder Morgan Inc. | 0.30% | 842,179 | $23.6M | Reduce -33.6% |
| PZZA Papa John's Intl Inc. | 0.30% | 556,570 | $23.6M | Reduce -69.7% |
| RDN Radian Group Inc. | 0.27% | 656,321 | $21.4M | Reduce -60.4% |
| CASY Casey's General Stores Inc. | 0.27% | 40,879 | $21.3M | Reduce -68.3% |
| RPRX Royalty Pharma PLC Class A | 0.25% | 544,214 | $20.0M | Add +19.0% |
| TNC Tennant Co. | 0.25% | 240,167 | $19.8M | Add +131.1% |
| SAIC Science Applications Inte | 0.25% | 177,318 | $19.8M | New |
Other holdings (1): bonds, preferreds, convertibles and warrants · $5.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 95,327 | $5.7M | Add +3.4% |
Total filed on the 13F, all lines: $7.9B.
Portfolio Sells Q1 2025 → Q2 2025
| LKQ LKQ Corp. | Reduce -46.1% | 0.69% | −1.29 |
| BJ Bj's Wholesale Club Holdings | Reduce -15.9% | 2.78% | −1.03 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −0.74 |
| PZZA Papa John's Intl Inc. | Reduce -69.7% | 0.30% | −0.73 |
| TAP Molson Coors Beverage Co. Class B | Reduce -31.4% | 0.70% | −0.67 |
| KR Kroger Co. | Reduce -63.4% | 0.35% | −0.63 |
| GPN Global Payments Inc. | Sold out | 0.00% | −0.63 |
| AGX Argan Inc. | Sold out | 0.00% | −0.55 |
| CASY Casey's General Stores Inc. | Reduce -68.3% | 0.27% | −0.49 |
| BDX Becton Dickinson and Co. | Reduce -46.7% | 0.30% | −0.48 |
| RDN Radian Group Inc. | Reduce -60.4% | 0.27% | −0.47 |
| TRS Trimas Corp. | Sold out | 0.00% | −0.44 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.42 |
| AXS Axis Capital Holdings Ltd. | Reduce -4.5% | 1.92% | −0.38 |
| NSP Insperity Inc. | Reduce -0.9% | 0.59% | −0.36 |
| SU Suncor Energy Inc. | Sold out | 0.00% | −0.34 |
| GEO The Geo Group Inc. | Reduce -54.1% | 0.19% | −0.31 |
| NWE Northwestern Energy Group Inc. | Reduce -3.2% | 1.57% | −0.30 |
| TGT Target Corp. | Reduce -82.9% | 0.05% | −0.30 |
| OPLN Openlane Inc. | Reduce -36.8% | 0.82% | −0.27 |
| TLN Talen Energy Corp. | Reduce -55.0% | 0.97% | −0.25 |
| ITB iShares U.S. Home Constructi | Sold out | 0.00% | −0.25 |
| LGIH Lgi Homes Inc. | Reduce -3.7% | 0.61% | −0.24 |
| NOMD Nomad Foods Ltd. | Reduce -0.8% | 0.83% | −0.22 |
| KMI Kinder Morgan Inc. | Reduce -33.6% | 0.30% | −0.19 |
| CXW Corecivic Inc. | Reduce -0.1% | 2.22% | −0.19 |
| CNA Cna Financial Corp. | Reduce -10.1% | 0.50% | −0.18 |
| HHH Howard Hughes Holdings Inc. | Reduce -13.8% | 0.53% | −0.18 |
| OIH Vaneck Oil Services ETF | Sold out | 0.00% | −0.16 |
| LH Labcorp Holdings Inc. | Reduce -21.8% | 0.72% | −0.16 |
| HII Huntington Ingalls Industrie | Reduce -35.4% | 0.74% | −0.16 |
| AER Aercap Holdings NV | Reduce -25.4% | 0.43% | −0.16 |
| GOOG Alphabet Inc. Class C | Sold out | 0.00% | −0.16 |
| GMS GMS Inc. | Reduce -41.8% | 0.68% | −0.15 |
| TXNM TXNM Energy Inc. | Reduce -12.4% | 0.93% | −0.14 |
| MSM MSC Industrial Direct Co. Class A | Sold out | 0.00% | −0.13 |
| DNB Dun & Bradstreet Holdings Inc. | Sold out | 0.00% | −0.13 |
| AAP Advance Auto Parts Inc. | Sold out | 0.00% | −0.12 |
| RTO Rentokil Initial PLC-SP ADR | Reduce -10.1% | 1.14% | −0.12 |
| DNOW Dnow Inc. | Sold out | 0.00% | −0.11 |
| SM SM Energy Co. | Reduce -1.1% | 0.61% | −0.11 |
| BLCO Bausch + Lomb Corp. | Reduce -22.7% | 0.21% | −0.10 |
| GPC Genuine Parts Co. | Reduce -57.4% | 0.07% | −0.10 |
| USB US Bancorp | Reduce -56.1% | 0.07% | −0.10 |
| YELP Yelp Inc. | Reduce -2.8% | 0.51% | −0.09 |
| CSX CSX Corp. | Reduce -21.6% | 0.70% | −0.09 |
| EVTC Evertec Inc. | Reduce -1.4% | 0.85% | −0.09 |
| RHI Robert Half Inc. | Sold out | 0.00% | −0.09 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.09 |
| BMY Bristol-Myers Squibb Co. | Reduce -40.3% | 0.06% | −0.08 |
Portfolio Buys Q1 2025 → Q2 2025
| WCC Wesco International Inc. | Add +56.0% | 1.59% | +0.77 |
| CACI Caci International Inc. Class A | Add +27.0% | 2.14% | +0.70 |
| TTAM Titan America SA | New | 0.66% | +0.66 |
| ICUI Icu Medical Inc. | Add +207.0% | 1.06% | +0.66 |
| SBUX Starbucks Corp. | Add +724.8% | 0.71% | +0.60 |
| AGO Assured Guaranty Ltd. | Add +58.3% | 1.93% | +0.57 |
| AMRZ Amrize Ltd. | New | 0.54% | +0.54 |
| VNT Vontier Corp. | Add +24.5% | 1.64% | +0.52 |
| GEHC GE Healthcare Technology | Add +123.3% | 1.13% | +0.52 |
| COO The Cooper Cos Inc. | New | 0.51% | +0.51 |
| FIS Fidelity National Info Serv | New | 0.50% | +0.50 |
| WSC Willscot Holdings Corp. | Add +75.6% | 1.07% | +0.45 |
| ICLR Icon PLC | New | 0.45% | +0.45 |
| BN Brookfield Corp. | New | 0.39% | +0.39 |
| GXO Gxo Logistics Inc. | Add +5.4% | 1.87% | +0.38 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +72.5% | 1.19% | +0.36 |
| HAE Haemonetics Corp. | Add +18.7% | 1.56% | +0.35 |
| DE Deere & Co. | Add +2041.7% | 0.36% | +0.34 |
| QSR Restaurant Brands Intern | Add +90.5% | 0.74% | +0.33 |
| MDU Mdu Resources Group Inc. | New | 0.33% | +0.33 |
| IWD iShares Russell 1000 Value E | New | 0.32% | +0.32 |
| DEO Diageo PLC-Sponsored ADR | New | 0.32% | +0.32 |
| WEX Wex Inc. | Add +20.9% | 1.72% | +0.31 |
| ABG Asbury Automotive Group | Add +122.0% | 0.56% | +0.29 |
| LEN Lennar Corp. Class A | Add +86.1% | 0.63% | +0.26 |
| MGRC McGrath Rentcorp | Add +4.0% | 3.12% | +0.25 |
| SAIC Science Applications Inte | New | 0.25% | +0.25 |
| FISV Fiserv Inc. | New | 0.24% | +0.24 |
| MMS Maximus Inc. | New | 0.23% | +0.23 |
| PGR Progressive Corp. | Add +145.6% | 0.47% | +0.23 |
| LAD Lithia Motors Inc. | Add +26.4% | 1.51% | +0.21 |
| PLUS Eplus Inc. | Add +17.2% | 1.34% | +0.19 |
| SSNC Ss&c Technologies Holdings | Add +43.9% | 0.67% | +0.18 |
| HUBG Hub Group Inc. Class A | Add +79.2% | 0.49% | +0.18 |
| TPG TPG Inc. | New | 0.18% | +0.18 |
| CPAY Corpay Inc. | Add +3768.8% | 0.17% | +0.16 |
| CRH CRH PLC | Add +14.8% | 1.15% | +0.16 |
| LULU Lululemon Athletica Inc. | Add +116.9% | 0.51% | +0.15 |
| VMI Valmont Industries | Add +151.9% | 0.23% | +0.15 |
| DAL Delta Air Lines Inc. | Add +223.5% | 0.20% | +0.15 |
| FCNCA First Citizens Bcshs Class A | New | 0.14% | +0.14 |
| TNC Tennant Co. | Add +131.1% | 0.25% | +0.14 |
| FAF First American Financial | New | 0.14% | +0.14 |
| PSMT Pricesmart Inc. | Add +0.2% | 1.07% | +0.14 |
| ATKR Atkore Inc. | Add +1.0% | 0.78% | +0.14 |
| ALG Alamo Group Inc. | New | 0.13% | +0.13 |
| OSK Oshkosh Corp. | New | 0.13% | +0.13 |
| UFPI Ufp Industries Inc. | New | 0.12% | +0.12 |
| SN Sharkninja Inc. | New | 0.12% | +0.12 |
| CNNE Cannae Holdings Inc. | Add +0.9% | 1.28% | +0.12 |
Notes & Other Activity Q1 2025 → Q2 2025
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Add +3.4% | 95,327 | $5.7M |
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 |